Blackstone mortgage trust, inc. (BXMT)
CashFlow / 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'11
Cash flows from operating activities
Net (loss) income

-53,283

79,582

75,393

75,551

76,867

73,896

78,293

72,508

61,116

58,139

57,811

50,613

51,405

53,400

66,391

69,450

57,199

65,597

67,776

32,419

46,093

25,337

23,602

38,439

13,116

9,728

10,526

6,767

-1,597

122,931

12,900

3,351

140,622

-16,080

8,259

6,223

253,917

Adjustments to reconcile net (loss) income to net cash provided by operating activities
Gain on extinguishment of debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

20,055

936

250,040

Non-cash compensation expense

8,678

7,380

7,754

7,754

7,768

7,666

6,734

6,778

6,976

6,222

5,943

5,959

5,907

5,382

6,202

5,463

4,852

6,247

3,286

5,080

6,104

2,892

2,055

2,799

1,970

4,066

552

1,586

0

2,020

1,284

375

129

3,354

94

94

223

Distributions of income from unconsolidated subsidiaries

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-223

-1,649

-61

-

-

-

-

Incentive awards plan expense

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

963

-

-

-

-282

-

415

401

2,579

Deferred directors' compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

38

-

-

-

56

-

56

47

47

Distributions from CT Legacy Asset

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

360

2,587

4,804

1,830

-

0

0

0

Amortization of deferred fees on loans and debt securities

14,399

17,816

11,599

15,155

13,356

11,138

11,794

12,932

11,229

9,486

12,091

7,988

8,808

8,751

11,234

11,406

8,954

10,564

13,291

6,481

5,717

7,022

5,061

4,232

3,470

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of premiums/discounts on loans and securities and deferred interest on loans

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

276

222

171

2,841

-57

-1,531

619

Amortization of deferred gains and losses on settlement of swaps

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

112

0

-56

184

-28

-23

-24

Amortization of deferred financing costs and premiums/ discount on debt obligations

9,704

9,314

7,470

7,967

7,265

7,104

7,362

7,300

6,331

5,632

6,868

4,953

4,535

4,210

5,377

5,699

4,053

6,024

6,729

4,436

3,519

3,058

2,739

2,478

1,625

3,554

980

227

174

1,386

901

1,033

8,813

2,680

2,656

4,288

2,360

Increase in current expected credit loss reserve

122,702

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain on investments at fair value

-

-

-

-

-

-

-

-

-

-

-

-

-

7

2,824

10,523

66

-141

-82

4,714

17,476

5,654

1,780

7,163

-1,339

-

-

-

-

-

-

-

-

-

-

-

-

Income from equity investment in unconsolidated subsidiary

-

-

-

-

-

-

-

-

-

-

-

-

-

995

2,059

-5

138

6,121

18

1,709

3,950

-

-

-

-

-

-

-

0

469

411

205

696

1,544

308

842

955

Principal collections of loans receivable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,135

-

-

245

83,000

-

198,316

1,456,100

224,625

Return of capital distributions from unconsolidated subsidiaries

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

204

Proceeds from disposition of loans

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

5,750

Contributions to unconsolidated subsidiaries

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

3,706

324

0

1,422

1,760

231

Distributions of income from unconsolidated subsidiary

-

-

-

-

-

-

-

-

-

-

-

-

-

1,810

1,330

0

6,837

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

395

Fair value adjustment on investment in CT Legacy Asset

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

3,954

-

0

0

0

Loss on deconsolidation of subsidiary

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

53,903

0

0

146,380

-

0

0

0

Net impairments recognized in earnings

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

0

0

160

9,348

31,569

0

8,204

Recovery of provision for loan losses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

33,328

2,811

16

-8

53,727

-17,152

-8,088

-9,161

Valuation allowance on loans held-for-sale

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

59

-600

1,600

200

-

-

-

0

-

-

-

-

Loss on interest rate swaps not designated as cash flow hedges

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

0

0

-2,772

-12,591

2,285

3,970

0

Changes in assets and liabilities, net
Other assets

7,432

3,837

2,233

-3,495

4,780

13,643

-6,873

16,228

354

4,413

-1,036

2,954

-1,699

2,246

-4,067

6

-4,254

-6,294

-28,024

58,724

-2,021

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other liabilities

2,647

823

-5,378

0

3,808

3,382

256

5,006

9,739

-5,172

6,159

2,856

2,636

-3,715

-2,981

-1,168

-2,256

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accounts payable, accrued expenses, and other liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,819

-

4,844

3

2,510

-4,854

1,722

1,559

-266

-5,246

3,887

-893

-182

872

-1,648

2,501

-3,784

Accrued interest receivable, prepaid expenses, and other assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-3,185

-2,051

-

-1,023

3,017

-812

1,013

-142

364

-2,986

-1,286

176

1,248

-800

Accrued interest receivable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-432

-

980

786

2,999

-

789

1,932

685

Deferred income taxes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

368

35

1,423

1,704

-154

-939

0

Net cash provided by operating activities

68,617

75,446

71,407

79,612

77,572

67,267

87,724

62,432

72,579

50,922

65,726

53,439

57,374

49,088

64,269

57,514

65,781

66,784

98,259

-26,062

32,413

23,177

23,451

18,970

15,039

14,224

10,062

3,627

756

-4,830

5,090

5,230

1,278

9,548

6,897

8,174

4,265

Cash flows from investing activities
Origination and fundings of loans receivable

971,322

3,570,686

1,397,344

1,122,893

799,326

2,667,248

1,022,768

2,221,822

1,978,213

1,283,445

849,727

762,641

702,353

851,246

898,765

815,805

586,066

397,140

377,104

5,527,091

903,152

769,718

556,568

1,000,741

740,236

-

-

-

-

-

-

-

-

-

-

-

-

Principal collections and sales proceeds from loans receivable and debt securities

620,994

2,350,572

782,501

1,343,638

463,483

581,293

537,329

964,443

1,001,682

804,160

879,249

529,701

567,321

459,608

1,731,051

903,257

420,513

763,777

898,152

337,884

348,153

217,224

131,305

195,322

76,562

-

-

-

-

-

-

-

-

-

-

-

-

Principal collections and proceeds from securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

12,222

6,626

21,496

23,478

39,494

23,063

8,372

Origination and exit fees received on loans receivable

8,610

34,031

14,806

12,220

5,501

30,297

11,911

43,319

18,881

17,007

13,206

12,799

12,429

9,309

13,775

11,189

10,424

6,702

10,426

10,295

6,078

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Origination and exit fees received on loans receivable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

6,264

14,630

7,121

-

-

-

-

-

-

-

-

-

-

-

-

Receipts under derivative financial instruments

85,432

13,917

25,863

6,937

2,956

12,552

14,191

20,762

22

338

0

4,212

1,903

9,905

20,190

0

11,478

1,423

11,512

8,282

-4,141

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments under derivative financial instruments

23,780

1,874

1,709

1,971

970

4,444

6,579

55

7,397

2,755

8,717

5,646

3,752

464

1,026

9,980

3,260

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Collateral deposited under derivative agreements

102,140

48,320

2,310

0

9,090

6,880

14,360

4,540

13,210

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Return of collateral deposited under derivative agreements

132,940

19,830

0

5,090

4,000

14,240

7,000

11,130

10,740

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in investing activities

-249,266

-1,202,530

-578,193

243,021

-333,446

-2,040,190

-57,211

-1,186,763

-967,495

-461,065

26,340

-221,575

-124,452

-355,486

846,061

89,519

-146,007

370,811

529,436

-5,159,047

-564,220

-545,796

-418,462

-791,504

-657,134

-586,797

-532,444

-665,912

2,662

63,552

20,483

244

105,322

146,629

234,853

1,477,416

234,507

Cash flows from financing activities
Distributions from unconsolidated subsidiaries

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

677

-

-

-

-

Change in restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-9,122

-

2,038

-19,865

15,299

736

-537

715

581

-66,301

54,424

9,253

-1,527

-1,899

712

2,921

-473

-730

3,490

6,012

4,213

Borrowings under secured debt agreements

986,342

3,619,004

1,486,418

742,467

721,571

3,434,174

1,146,843

2,653,700

1,949,135

1,530,243

1,031,292

954,901

789,865

960,038

717,724

878,274

629,897

324,967

318,451

5,553,833

688,142

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayments under secured debt agreements

1,555,997

2,478,029

876,403

1,688,809

483,748

1,265,177

1,323,535

1,559,258

1,265,100

2,296,944

807,364

1,001,725

672,161

546,586

1,660,086

861,595

466,536

750,254

759,047

1,133,235

387,555

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

22,932

Proceeds from issuance of collateralized loan obligations

1,243,125

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayment of collateralized loan obligations

179,759

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sale of loan participations

0

0

0

8,544

12,802

13,357

13,955

34,901

37,483

-

-

-

-

-

-

-

-

0

0

0

256,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayment of loan participations

-

-

-

-

-

-

-

-

-

-

-

-

-

44,000

0

82,400

9,600

0

114,000

96,000

28,164

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayments of secured term loan

1,872

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayment of junior subordinated notes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

4,640

Borrowings under legacy credit facilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

83,000

Repayments under repurchase obligations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

58,464

-

-

-

-

Repayments of legacy credit facilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

0

0

63,000

27,572

0

20,000

0

Payment of deferred financing costs

20,487

13,660

2,387

12,123

11,200

6,011

3,180

5,598

10,217

13,874

3,791

5,905

3,895

2,786

3,248

4,056

5,260

1,298

2,220

14,659

3,053

3,380

2,270

8,293

2,217

-

-

-

-

-

-

-

-

0

0

8

11,118

Contributions from non-controlling interests

8,108

24,697

8,093

17,158

1,470

4,815

2,025

2,100

375

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Distributions to non-controlling interests

-6,681

-21,073

-19,828

-664

-64

-1,807

-114

-2,411

-1,575

-

-

-

-

-912

-13,171

-108

-6,879

-226

-217

-36,533

-452

-452

-12,175

-1,723

575

-54,136

-1,045

-16,575

-1,097

-8

0

-8

0

-

-

-

-

Net proceeds from issuance of convertible notes

-

-

-

-

-

0

0

312

214,463

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net proceeds from issuance of class A common stock

0

8

0

306,952

65,377

-

-

-

-

391,527

15

8

8

7

7

7

6

5

-22

1,029,554

3

2,731

252,562

254,752

256,093

-

-

-

-

-

-

-

-

-

-

-

-

Dividends paid on class A common stock

83,702

83,259

83,259

77,913

76,530

74,195

69,097

67,080

66,888

58,794

58,793

58,787

58,615

58,226

58,226

58,226

58,097

57,800

48,483

30,395

30,300

28,839

23,270

18,853

13,276

-

-

-

-

-

-

-

-

-

-

-

-

Vesting of restricted class A common stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

331

0

21

4

0

0

85

0

Redemption of noncontrolling interests

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

144

-

-

-

0

-

-

-

-

Borrowings under revolving repurchase facilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

760,462

-

364,317

216,464

0

0

0

0

123,977

-

-

-

-

Borrowings under repurchase obligations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Repayments under revolving repurchase facilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-315,862

-

-

-

-

-

-

-

-

-

-

-

-67,929

Repayments under asset-specific repurchase agreements

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

23,250

-

-

-

-

-

-

-

-

-

-

-

-

Repayment of other liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

20,007

787

34,022

269

62,435

2,239

105,867

21,310

8,039

106,729

141,528

189,255

1,278,892

211,823

Net cash provided by financing activities

389,077

1,193,002

511,384

-321,512

229,678

1,992,749

-51,687

1,158,970

857,676

417,642

-67,067

168,965

55,202

290,133

-997,836

-83,643

91,749

-479,441

-594,689

5,269,486

498,762

511,686

339,507

822,155

660,588

614,609

472,918

706,671

-3,480

-82,166

-21,310

-8,068

-104,220

-149,578

-241,961

-1,484,939

-235,442

Net decrease in cash, cash equivalents, and restricted cash

208,428

65,918

4,598

1,121

-26,196

19,826

-21,174

34,639

-37,240

7,499

24,999

829

-11,876

-16,265

-87,506

63,390

11,523

-41,846

33,006

84,377

-33,045

-10,933

-55,504

49,621

18,493

42,036

-49,464

44,386

-62

-23,444

4,263

-2,594

2,380

6,599

-211

651

3,330

Effects of currency translation on cash and cash equivalents

-3,500

-117

-893

26

-29

-1,151

1,104

-2,060

9,200

934

1,287

2,695

584

-3,107

173

-1,296

2,649

-2,339

1,342

1,401

-291

-

-

-

-1

-

-

-

-

-

-

-

-

-

-

-

-

Supplemental disclosure of cash flows information
Payments of interest

91,341

101,788

104,440

111,602

107,971

94,599

85,869

82,869

55,582

65,842

52,605

49,232

39,287

41,341

39,156

46,287

38,121

41,935

41,936

24,562

18,996

19,197

14,455

13,893

7,629

-

-

-

-

-

-

-

-

-

-

-

-

Payments of income taxes

122

-314

106

25

74

8

283

128

135

76

79

91

50

155

-73

53

151

0

-1

-3

129

75

239

-1

1,160

-

-

-

-

-

-

-

-

-

-

-

-

Supplemental disclosure of non-cash investing and financing activities
Dividends declared, not paid

83,920

443

0

5,346

77,913

2,335

5,101

2,014

67,080

8,095

0

6

58,787

227

6

156

58,226

295

9,320

18,082

30,398

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Participations sold, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-27,959

-9,600

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loan principal payments held by servicer, net

656

-7,259

23,868

-4,310

37,285

1,278

2,247

-3,354

4,684

15,250

-4,569

-37,633

42,715

-8,845

-26,432

-39,431

75,378

-114,744

137,674

95,036

108

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-