Apollo commercial real estate finance, inc. (ARI)
Income statement / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Sep'10Jun'10Dec'09
Net interest income:
Interest income from securities, held to maturity

-

-

-

-

-

-

-

-

-

-

-

-

-

2,872

2,875

2,826

2,896

2,704

2,956

3,349

3,045

3,165

1,448

0

0

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

Interest income from commercial mortgage loans

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,267

2,276

2,297

2,313

2,123

1,801

-

Interest income from commercial mortgage loans

81,855

85,595

81,136

77,458

78,286

75,275

71,179

65,141

52,114

45,942

41,203

37,089

34,398

30,200

27,460

24,140

21,127

18,846

15,184

11,968

10,094

9,328

8,025

6,438

4,011

3,812

4,954

3,676

3,592

2,930

2,825

2,791

2,234

4,817

3,784

3,167

1,909

1,952

1,795

231

Interest income from subordinate loans and other lending assets

34,018

39,630

43,421

41,043

40,839

34,944

37,308

34,075

33,853

43,993

47,268

39,640

34,390

32,746

32,207

28,067

29,375

25,623

25,445

21,152

18,610

17,021

19,754

18,238

14,730

14,026

12,184

11,498

11,454

7,350

6,144

5,859

5,313

-

-

-

-

-

-

-

Interest income from securities

-

-

-

-

-

-

-

-

-

1,219

2,625

4,700

6,054

3,901

8,029

7,607

8,049

8,343

8,293

8,265

8,287

8,275

6,129

4,366

2,419

3,633

2,533

3,014

3,087

3,120

3,674

3,230

5,323

5,904

6,316

6,448

6,656

4,356

4,114

364

Interest income from repurchase agreements

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

2

366

2,361

2,000

1,559

1,576

1,576

1,552

60

-

-

-

Interest expense

41,205

43,779

39,341

33,511

36,295

32,413

31,007

28,437

22,740

21,967

19,855

19,205

17,030

16,139

17,256

15,722

14,642

12,275

13,187

11,917

11,482

10,740

8,786

5,258

1,757

1,450

885

955

1,068

1,463

1,768

1,929

3,242

3,618

3,716

3,781

3,339

2,930

2,654

104

Net interest income

74,668

81,446

85,216

84,990

82,830

77,806

77,480

70,779

63,227

69,187

71,241

62,224

57,812

53,580

53,315

46,918

46,805

43,241

38,691

32,817

28,554

27,049

26,570

23,784

19,403

20,021

18,786

17,233

17,067

12,303

13,236

11,951

11,187

10,946

10,236

9,683

7,599

5,501

5,056

491

Operating expenses:
General and administrative expenses (includes equity-based compensation of $4,263 and $3,901 in 2020 and 2019, respectively)

6,531

5,533

5,839

6,574

6,151

3,977

5,843

5,652

4,998

5,138

4,629

5,200

5,758

3,527

8,352

4,922

8,185

2,979

2,099

2,059

2,355

1,796

1,434

1,479

1,442

2,438

1,793

1,437

1,895

1,315

2,430

2,762

2,036

1,563

1,297

1,412

1,380

1,360

1,390

1,965

Management fees to related party

10,268

10,428

10,434

10,259

9,613

9,804

9,515

9,013

8,092

8,169

8,309

7,742

7,432

7,015

5,903

5,242

5,229

5,294

4,097

3,887

3,341

3,236

3,193

2,966

2,565

2,627

2,625

2,600

2,160

2,040

1,518

1,292

1,289

1,297

1,241

1,101

1,088

-761

-733

763

Total operating expenses

16,799

15,961

16,273

16,833

15,764

13,781

15,358

14,665

13,090

13,307

12,938

12,942

13,190

10,542

14,255

10,164

13,414

8,273

6,196

5,946

5,696

5,032

4,627

4,445

4,007

5,065

4,418

4,037

4,055

3,355

3,948

4,054

3,325

2,860

2,538

2,513

2,468

2,121

2,123

2,728

Loss from unconsolidated joint venture

-

-

-

-

-

-

-

-

-

0

0

-3,305

458

-303

80

59

68

2,972

108

384

0

-69

-88

0

0

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

Other income

760

682

429

484

518

465

427

343

203

229

359

244

108

760

309

22

2

983

239

6

11

9

21

4

0

1

3

16

0

6

0

0

1

-

-

-

-

-

-

-

Provision for loan losses

183,465

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Provision for loan losses(1)

-

0

35,000

-15,000

-

15,000

0

5,000

0

0

0

5,000

0

0

0

15,000

0

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Realized loss on investments

-

0

0

12,513

-

0

0

0

0

37,575

4,076

0

1,042

4,059

-225

0

0

0

0

0

-443

0

0

0

0

-

-

-

-

0

0

0

262

-

-

-

-

-

-

-

Unrealized gain on securities

-

-

-

-

-

-

-

-

-

25,335

13,488

-4,510

2,852

10,502

-9,798

-11,728

-15,074

-11,618

-6,926

-2,273

3,409

-639

-2,147

4,749

2,184

908

-1,472

-1,421

-1,080

16

3,010

2,078

1,385

600

-1,511

1,366

26

-286

-

-

Interest income from cash balances

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1

2

3

5

1

2

65

Foreign currency gain (loss)

-37,949

39,830

-19,129

-7,777

6,894

-6,761

-4,050

-29,649

10,125

658

7,763

6,913

3,172

-7,359

-4,369

-13,082

-4,474

-3,121

-3,998

6,169

-3,944

-1,413

-3,596

959

0

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

Gain (loss) on foreign currency forward contracts (includes unrealized gains (losses) of $62,436 and ($14,985) in 2020 and 2019, respectively)

70,491

-

-

-

-6,720

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Bargain purchase gain

-

-

-

-

-

-

-

-

-

-

-

-

-

0

40,021

0

0

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss on early extinguishment of debt

-

0

0

0

-

0

2,573

0

0

-1,947

0

0

0

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain (Loss) on Derivative Instruments, Net, Pretax

-

-43,044

24,153

11,186

-

10,261

6,291

33,538

-11,032

-1,265

-7,481

-7,389

-3,045

8,329

4,815

13,313

4,703

3,054

3,929

-6,499

3,622

2,137

3,026

-1,093

0

-1

1

-2

0

-2

-87

-65

-417

-18

-677

-2,019

18

-739

-

-

Unrealized loss on interest rate swap

-35,548

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net income (loss)

-127,842

71,903

29,089

61,424

67,758

52,990

62,217

55,346

49,433

41,315

68,356

36,235

47,125

59,026

69,893

10,338

18,616

27,238

25,847

24,658

25,513

22,042

19,159

23,958

17,580

15,864

12,900

11,789

11,932

8,968

12,211

9,910

9,093

8,669

5,512

6,520

5,180

2,356

2,935

-2,172

Preferred dividends

3,385

3,386

3,385

4,919

6,835

6,835

6,836

6,834

6,835

6,993

11,148

9,310

9,310

9,310

9,310

5,860

5,815

5,860

2,304

1,860

1,860

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net income (loss) available to common stockholders

-131,227

68,517

25,704

56,505

60,923

46,155

55,381

48,512

42,598

34,322

57,208

26,925

37,815

49,716

60,583

4,478

12,801

21,378

23,543

22,798

23,653

20,182

17,299

22,098

15,720

14,004

11,040

9,929

10,072

7,108

10,992

9,910

9,093

8,669

5,512

6,520

5,180

-

-

-

Earnings Per Share [Abstract]
Net income per share of common stock (in dollars per share)

-

-

-

-

-

-

-

-

-

-

-

-

-

0.60

0.83

0.06

0.18

0.32

0.39

0.39

0.47

0.43

0.37

0.51

0.42

0.37

0.30

0.27

0.33

0.26

0.52

0.47

0.43

0.41

0.28

0.37

0.29

0.21

-

-0.21

Basic (in dollars per share)

-0.86

0.44

0.16

0.38

0.45

0.34

0.42

0.39

0.38

0.32

0.54

0.28

0.41

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.28

-

Diluted (in dollars per share)

-0.86

0.42

0.16

0.37

0.43

0.34

0.40

0.39

0.38

0.32

0.54

0.28

0.41

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.27

-

Basic weighted-average shares of common stock outstanding (in shares)

153,948

153,537

153,531

145,567

134,607

133,852

129,188

123,019

110,211

106,721

105,446

95,428

91,612

82,670

71,919

67,402

67,385

67,146

59,355

58,429

49,563

46,852

46,848

42,888

37,122

36,886

36,883

36,880

30,105

27,297

20,571

20,570

20,561

-

-

-

-

-

10,668

-

Diluted weighted-average shares of common stock outstanding (in shares)

153,948

182,070

153,531

174,101

164,683

163,900

153,918

124,629

111,871

108,095

106,812

96,796

92,998

83,548

72,861

68,374

68,327

67,754

59,934

59,022

50,171

47,085

47,068

43,099

37,341

37,390

37,379

37,373

30,480

27,608

20,992

20,991

20,966

-

-

-

-

-

10,770

-

Basic and diluted weighted average shares of common stock outstanding

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

20,989

19,966

17,684

17,670

11,448

-

10,500

Dividend declared per share of common stock (in dollars per share)

0.40

-

0.46

0.46

0.46

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.40

0.35

-