Colony credit real estate, inc. (CLNC)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17
Cash flows from operating activities:
Net income (loss)

-80,141

35,180

-401,995

-110,790

14,957

-132,160

-58,666

15,874

-2,401

32,051

31,482

32,324

32,023

Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Income (Loss) from Equity Method Investments

17,167

18,980

-15,905

12,557

21,310

-15,999

8,324

15,661

15,788

9,410

3,042

6,219

6,038

Depreciation, Depletion and Amortization, Nonproduction

17,976

20,367

25,934

29,257

27,662

18,297

30,538

23,359

18,792

1,570

2,537

2,745

2,285

Straight-line rental income

1,426

1,778

1,497

1,820

1,732

2,861

1,311

975

1,373

0

0

-60

60

Amortization of above/below market lease values, net

-404

-503

-664

-1,125

-612

-530

264

118

104

0

0

-67

67

Amortization of premium/accretion of discount and fees on investments and borrowings, net

-3,992

-3,870

-3,538

-3,119

-2,582

-2,279

-1,940

-1,916

-1,772

-2,339

-2,402

-2,324

-1,486

Amortization of deferred financing costs

3,582

2,854

2,551

2,223

2,029

1,743

1,487

1,180

384

797

974

1,038

828

Amortization of right-of-use lease assets and operating lease liabilities

24

28

25

23

25

-

-

-

-

-

-

-

-

Paid-in-kind interest added to loan principal, net of interest received

3,171

2,150

1,896

480

3,258

2,595

2,008

704

530

-

-

-

-

Interest accretion on investments

-

-

-

-

-

-

-

-

-

-

-

-

1,878

Distributions of cumulative earnings from unconsolidated ventures

9,326

11,627

22,630

12,387

18,492

8,799

7,282

13,713

13,687

3,450

625

1,659

1,829

Fair Value, Option, Changes in Fair Value, Gain (Loss)

-19,452

-502

-1,976

5,549

1,029

1,749

-939

3,693

500

0

0

0

0

Realized Investment Gains (Losses)

0

0

2,724

0

48

-695

-549

-2,203

0

-

-

-

-

Provision for Loan and Lease Losses

69,932

28

110,314

110,258

0

-

-

-

-

-

-

-

-

Impairment of Real Estate

4,126

-97

272,722

10,124

0

-

-

-

-

-

-

-

-

Amortization of equity-based compensation

342

3,344

2,910

2,713

1,843

3,208

1,822

1,798

285

0

0

0

0

Mortgage notes above/below market value amortization

255

-124

-112

-77

-87

-149

418

134

173

0

0

0

0

Deferred income tax (benefit) expense

-788

-1,354

291

-896

-2,693

32,401

-2,567

-1,392

-88

1,744

0

0

0

Other loss

20,452

-

-

-

0

-

-

-

-

-

-

-

-

Changes in assets and liabilities:
Restricted cash

-

-

-

-

-

-

-

-

-

-

-1,477

1,417

-469

Receivables, net

-6,511

8,039

-7,016

3,913

4,200

1,091

2,454

1,965

-16,572

0

0

0

0

Deferred costs and other assets

-16,680

15,589

5,172

-1,112

-4,778

-11,220

5,947

19,321

13,883

4,299

6,541

-174

-2,923

Due to related party

-250

-3,211

1,880

-1,503

-1,169

438

68

1,864

3,340

0

0

0

0

Other liabilities

-3,605

-4,172

3,280

-955

6,438

4,726

11,727

-3,070

1,499

5,038

3,841

-9,779

208

Net cash provided by operating activities

57,204

23,971

50,060

25,467

37,678

36,328

35,478

10,758

18,158

32,795

27,017

16,000

31,170

Cash flows from investing activities:
Acquisition, origination and funding of loans and preferred equity held for investment, net

37,452

100,102

363,621

644,704

241,693

395,231

131,952

387,219

5,059

44,661

49,472

53,081

52,989

Repayment on loans and preferred equity held for investment

-160,069

-39,209

-139,001

-114,751

-172,686

-212,526

-141,460

-388,360

115,724

-833,385

142,379

79,103

74,371

Repayment on loans held for sale

450

-

-

-

0

-

-

-

-

-

-

-

-

Cash and restricted cash received in the Combination

-

-

-

-

-

26,112

0

0

302,342

-

-

-

-

Proceeds from sale of real estate

160,830

-

-

-

0

-

-

-

-

0

-66

22

8,916

Cash received in the Combination

-

-

-

-

-

-

-

-

-

-

2

-5,596

6,509

Acquisition of and additions to real estate, related intangibles and leasing commissions

11,325

7,445

7,492

3,039

6,242

6,571

402,885

2,926

2,735

0

0

312

0

Investments in unconsolidated ventures

16,748

19,594

20,543

2,619

5,182

166,784

67,393

3,756

1,730

419

6,939

4,846

4,129

Proceeds from sale of investments in unconsolidated ventures

1,795

0

38,437

42,386

34,475

0

0

0

0

-

-

-

-

Distributions in excess of cumulative earnings from unconsolidated ventures

16,528

9,879

83,260

53,636

65,836

16,371

32,692

27,699

21,739

22,947

16,421

9,988

5,751

Acquisition of real estate securities, available for sale

-

-

-

-

-

6,098

19,286

21,519

11,762

0

0

0

0

Repayment of principal in mortgage loans held in securitization trusts

-6,577

-

-

-

0

-

-

-

-

-

-

-

-

Cash received in excess of accretion on purchased credit impaired loans

-

-

-

-

-

0

0

0

0

-

-

-

-

Net receipts on settlement of derivative instruments

19,637

-

-

-

1,638

-

-

-

-

-

-

-

-

Deposit on investments

0

0

0

20

352

756

12,967

15,700

0

-

-

-

-

Change in escrow deposits

24,998

12,853

-23,665

526

2,322

9,917

-4,382

-3,773

3,856

21,541

0

-142

142

Net cash provided by investing activities

275,363

43,214

-37,948

-440,135

18,844

-188,583

-451,049

-242,736

414,663

210,569

127,168

63,245

38,287

Cash flows from financing activities:
Distributions paid on common stock

38,558

50,269

55,916

55,907

55,629

56,070

55,632

54,740

18,849

0

0

0

0

Distributions paid on common stock to noncontrolling interests

922

2,379

1,110

252

1,340

1,232

1,297

1,931

0

-191,872

99,361

58,902

33,609

Distributions paid on common stock to noncontrolling interests

-

-

-

-

-

-

1,337

2,230

0

-

-

-

-

Shares canceled for tax withholding on vested stock awards

1,688

-

-

-

0

-

-

-

-

-

-

-

-

Borrowings from mortgage notes

2,280

7,922

179

63,307

22,174

1,326

201,257

1,959

41,823

17,428

19,413

17,305

18,043

Repayment of mortgage notes

76,585

3,901

1,500

1,439

1,509

98,653

1,077

41,326

762

115,718

79,422

83,710

64,048

Borrowings from credit facilities

249,991

-387,294

409,843

705,954

714,615

795,533

594,009

301,671

25,149

0

0

0

0

Repayment of credit facilities

88,804

421,029

311,076

282,437

695,260

451,933

372,236

103,403

71,740

0

602

115

0

Repayment of securitization bonds

0

0

23,377

30,286

27,709

0

44,892

45,880

17,474

0

0

0

0

Repayment of mortgage obligations issued by securitization trusts

6,577

-

-

-

0

-

-

-

-

-

-

-

-

Payment of deferred financing costs

1,600

8,622

441

5,379

1,593

4,359

2,792

3,784

4,675

0

0

0

0

Distributions to CLNY owners

-

-

-

-

-

-

-

-

1,003

-

-

-

-

Contributions from noncontrolling interests

0

104

17

11

24

182

21

87

0

-53,258

29,834

37,971

35,956

Distributions to noncontrolling interests

11,013

-

-

-

394

-

-

-

-

-

-

-

-

Net cash provided by (used in) financing activities

26,524

-71,585

13,705

391,284

-46,621

167,598

316,024

51,426

-47,531

-290,411

-130,138

-87,451

-43,658

Effect of exchange rates on cash, cash equivalents and restricted cash

-1,409

203

99

-8

-7

-132

-44

0

0

-

-

-

-

Net increase (decrease) in cash, cash equivalents and restricted cash

357,682

-4,197

25,916

-23,392

9,894

15,211

-99,591

-180,552

385,290

-47,047

24,047

-8,206

25,799

Supplemental Cash Flow Information [Abstract]
Noncontrolling interests assumed in the Combination

-

-

-

-

-

222

0

0

82,320

0

0

0

0

Common stock issued for acquisition of NorthStar I and NorthStar II (Note 3)

-

-

-

-

-

0

0

0

2,021,373

0

0

0

0

Deconsolidation of certain CLNY Contributed Portfolio investments (Note 2)

-

-

-

-

-

-26,112

0

14,704

298,429

0

0

0

0

Secured Financing

-

-

-

-

-

0

0

0

50,314

0

0

0

0

Other Payables to Manager adjustment (refer to Note 11)

-

-

-

-

-

-

0

0

2,934

-

0

0

0

Noncontrolling interests in the Operating Partnership

-

-

-

-

-

0

0

0

73,626

0

0

0

0

Consolidation of securitization trust (VIE asset/liability additions)

0

-59,126

6,780

27,953

24,393

8,303

28,397

40,680

134,398

0

0

0

0

Escrow deposits payable related to loans and preferred equity held for investment

-

-

-

-

-

-

-

-

-

-

-41,693

63,168

0

Accrual of distribution payable

-17

-5,923

-1

5

19,083

-6

-1

-1

18,994

-

-

-

-

Non-cash distributions related to unconsolidated ventures

-

-

-

-

-

-

-

-

-

-

-

-1

933

Foreclosure of loans held for investment, net of provision for loan losses

0

0

0

21,919

105,437

0

117,878

0

0

11,415

0

0

8,789

Right-of-use lease assets and operating lease liabilities

-730

715

433

9,389

16,959

-

-

-

-

-

-

-

-

Due to Manager for share repurchases

-

-

-

-

-

-

-

-

0

-

-

-

-

Loans held for investment payoff received from servicer

-

-

-

-

-

-

-

-

21,189

-

-

-

37,335

PE Investments sale proceeds receivable

0

-

-

-

14,453

-

-

-

0

-

-

-

-

Conversion of Class B-3 common stock to Class A common stock

0

0

0

0

444

0

0

0

0

-

-

-

-

NorthStar I and NorthStar II
Assets acquired in the Combination

-

-

-

-

-

-264,432

0

91,877

6,824,169

-

-

-

-

Liabilities assumed in the Combination

-

-

-

-

-

8,780

0

0

4,812,353

-

-

-

-