| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | |
|---|---|---|---|---|---|---|
Cash Flows from Operating Activities | ||||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | ||||||
-148,915 | -495,175 | -64,613 | 290,726 | 256,036 | 19,100 | |
Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | ||||||
Amortization of discount and net origination fees on loans receivable and debt securities | ||||||
19,602 | 23,194 | 55,059 | 27,038 | 21,109 | - | |
Paid-in-kind interest added to loan principal, net of interest received | ||||||
62,464 | 38,408 | 25,152 | 29,844 | 30,211 | - | |
Accretion in excess of cash receipts on purchased credit-impaired loan | ||||||
- | - | - | 8,515 | 39,886 | - | |
Straight-line rents | ||||||
20,741 | 29,330 | 32,664 | 12,617 | 11,929 | -153 | |
Amortization of above- and below-market lease values, net | ||||||
-19,813 | -6,862 | -15,319 | 2,045 | 3,240 | - | |
Amortization of deferred financing costs and debt discount and premium | ||||||
103,537 | 89,639 | 83,719 | 28,936 | 21,222 | 0 | |
Equity method earnings | ||||||
-87,444 | 10,560 | 285,151 | 99,375 | - | - | |
Earnings from investments in unconsolidated ventures | ||||||
- | - | - | - | 47,605 | -1,039 | |
Unrealized (gain) loss on investments and other | ||||||
- | - | - | - | - | -410 | |
Realized (gain) loss on investments and other | ||||||
- | - | - | - | - | 0 | |
Deferred income tax, net | ||||||
- | - | - | - | - | 3,095 | |
Other income | ||||||
- | - | - | - | - | 0 | |
Distributions of income from equity method investments | ||||||
143,417 | 79,995 | 72,197 | 79,361 | 66,418 | 0 | |
Provision for loan loss | ||||||
35,880 | 43,034 | 19,741 | 35,005 | 39,859 | - | |
Impairment on convertible debt | ||||||
- | - | - | - | - | 0 | |
Allowance for doubtful accounts | ||||||
6,793 | 26,860 | 14,602 | 3,314 | - | 0 | |
Impairment of real estate and related intangibles and right-of-use assets | ||||||
358,443 | 588,223 | 104,360 | 11,717 | 11,192 | - | |
Goodwill impairment | ||||||
788,000 | 0 | 316,000 | 0 | 0 | - | |
Depreciation and amortization | ||||||
596,262 | 572,406 | 617,779 | 171,682 | 140,977 | 894 | |
Equity-based compensation | ||||||
39,573 | 41,876 | 154,429 | 13,638 | 13,714 | 51,519 | |
Net gain on remeasurement of net assets of consolidated investment entities | ||||||
- | - | - | - | 41,486 | - | |
Change in fair value of contingent consideration—Internalization (Note 12) | ||||||
0 | -1,730 | -20,600 | -11,740 | -16,510 | - | |
Gain on sales of real estate, net | ||||||
1,520,808 | 167,231 | 135,262 | 73,616 | 8,962 | - | |
Cash and restricted cash contributed to CLNC (Note 6) | ||||||
0 | 141,153 | 0 | 0 | - | - | |
Settlement of derivative | ||||||
-365,111 | 0 | 0 | - | - | - | |
Deferred income tax benefit | ||||||
-9,602 | -69,430 | -138,459 | -7,618 | -11,613 | - | |
Foreign currency loss recognized on repayment of loans receivable | ||||||
- | - | - | - | -31,268 | - | |
Other loss, net | ||||||
-190,638 | 49,976 | -45,360 | 0 | 0 | - | |
Receivables, net | ||||||
- | - | - | - | - | 54,439 | |
Increase in other assets and due from affiliates | ||||||
23,937 | 40,123 | 66,287 | -2,053 | -1,072 | 17,602 | |
Decrease in accrued and other liabilities and due to affiliates | ||||||
19,985 | -470 | -11,169 | 45,365 | 23,306 | 35,546 | |
Other adjustments, net | ||||||
-8,111 | -2,579 | 4,094 | -8,307 | -5,867 | - | |
Other liabilities | ||||||
- | - | - | - | - | 0 | |
Commission payable | ||||||
- | - | - | - | - | 10,196 | |
Net cash provided by (used in) operating activities | ||||||
170,868 | 506,965 | 582,546 | 405,172 | 373,126 | 46,721 | |
Cash Flows from Investing Activities | ||||||
Contributions to and acquisition of equity investments | ||||||
247,357 | 548,163 | 522,935 | - | - | - | |
Contributions to investments in unconsolidated ventures | ||||||
- | - | - | 226,665 | 356,051 | 43,582 | |
Investment in convertible debt | ||||||
- | - | - | - | - | 0 | |
Return of capital from equity method investments | ||||||
224,169 | 433,144 | 225,477 | 113,491 | 357,307 | 0 | |
Acquisition of loans receivable and debt securities | ||||||
771 | 104,247 | 590,536 | - | - | - | |
Acquisition of loans receivable and securities | ||||||
- | - | - | 199,638 | 135,194 | - | |
Cash and restricted cash assumed in Merger, net of payments for merger-related liabilities | ||||||
0 | 0 | -132,377 | 0 | 0 | - | |
Net disbursements on originated loans | ||||||
168,960 | 317,952 | 392,790 | 385,702 | 984,840 | - | |
Repayments of loans receivable | ||||||
229,970 | 143,360 | 831,074 | 732,393 | 335,446 | - | |
Proceeds from sales of loans receivable and debt securities | ||||||
66,249 | 225,607 | 117,540 | 220,900 | 0 | - | |
Acquisition of and additions to real estate, related intangibles and leasing commissions | ||||||
1,918,317 | 1,349,467 | 1,325,122 | 501,221 | 1,377,344 | - | |
Cash receipts in excess of accretion on purchased credit-impaired loans | ||||||
31,128 | 159,229 | 357,423 | 140,057 | 399,783 | - | |
Proceeds from Sale of Real Estate Held-for-investment | ||||||
6,108,153 | 864,347 | 1,607,806 | 390,943 | 323,430 | - | |
Acquisition of securities | ||||||
- | - | - | - | - | 0 | |
Proceeds from paydown and maturity of debt securities | ||||||
11,205 | 43,625 | 112,939 | 0 | 0 | - | |
Proceeds from sale of equity investments | ||||||
- | - | - | 0 | 0 | - | |
Proceeds from sale of equity investments | ||||||
165,657 | 231,040 | 553,327 | 0 | - | - | |
Proceeds from sale of equity interests in securitization trusts, net of cash and restricted cash deconsolidated (Note 13) | ||||||
0 | 142,270 | 0 | - | - | - | |
Proceeds from syndication of investment, net of cash and restricted cash deconsolidated | ||||||
0 | 0 | 156,897 | 0 | 0 | - | |
Proceeds from sale of Townsend, net of cash assumed by buyer (Note 18) | ||||||
0 | 0 | 454,579 | 0 | 0 | - | |
Investment deposits | ||||||
14,928 | 34,314 | 480 | 67,693 | 1,380 | - | |
Acquisition of THL Hotel Portfolio, net of cash and restricted cash acquired (Note 3) | ||||||
- | - | - | 0 | 0 | - | |
Return of borrower escrow deposits | ||||||
0 | 0 | -20,237 | -34,260 | - | - | |
Increase in restricted cash related to investing activities | ||||||
- | - | - | - | 0 | 3,190 | |
Net receipts on settlement of derivatives | ||||||
-46,466 | 15,954 | 11,800 | -34,471 | -45,024 | - | |
Internalization of manager, net of cash acquired | ||||||
- | - | - | - | 56,335 | - | |
Acquisition of business | ||||||
- | - | - | 0 | 0 | 0 | |
Other investing activities, net | ||||||
-22,806 | -415 | -12,935 | 1,619 | 8,660 | - | |
Payment related to the sale of the Island Interest | ||||||
- | - | - | - | - | 0 | |
Net cash provided by (used in) investing activities | ||||||
4,198,938 | -268,213 | 1,666,387 | 215,457 | -1,458,814 | -43,582 | |
Cash Flows from Financing Activities | ||||||
Proceeds from issuance of preferred stock, net | ||||||
0 | 0 | 638,100 | 0 | 277,945 | - | |
Dividends paid to preferred stockholders | ||||||
108,548 | 120,702 | 130,182 | 48,372 | 38,244 | - | |
Excess tax benefit from equity-based compensation | ||||||
- | - | - | - | - | 1,599 | |
Dividends paid to common stockholders | ||||||
214,149 | 310,519 | 482,156 | 181,172 | 165,559 | 19,063 | |
Repurchase of common stock | ||||||
10,734 | 343,143 | 300,177 | 0 | 0 | 0 | |
Contribution from NorthStar Realty | ||||||
- | - | - | - | - | 116,397 | |
Borrowings from corporate credit facility | ||||||
810,200 | 685,000 | 1,041,000 | 694,000 | 1,345,900 | 0 | |
Repayment of borrowings from corporate credit facility | ||||||
810,200 | 735,000 | 1,413,600 | 586,400 | 1,194,900 | 0 | |
Borrowings from secured debt | ||||||
4,664,450 | 1,791,021 | 4,573,099 | 1,072,556 | 1,936,043 | 0 | |
Repayments of secured debt | ||||||
5,745,509 | 1,985,990 | 4,733,640 | 1,601,423 | 871,788 | 0 | |
Change in escrow deposits related to financing arrangements | ||||||
- | - | - | - | 0 | - | |
Payment of deferred financing costs | ||||||
82,202 | 28,630 | 96,069 | 22,464 | 27,670 | - | |
Contributions from noncontrolling interests | ||||||
578,706 | 1,019,888 | 1,173,432 | 819,033 | 486,152 | 0 | |
Distributions to and redemptions of noncontrolling interests | ||||||
2,847,830 | 518,864 | 970,615 | 627,629 | 671,659 | 0 | |
Redemption of preferred stock | ||||||
0 | 200,000 | 635,785 | 19,998 | 0 | - | |
Reissuance of preferred stock to an equity method investee | ||||||
- | - | - | 19,998 | 0 | - | |
Payment of financing costs | ||||||
- | - | - | - | - | 0 | |
Call Spread Premium, net | ||||||
- | - | - | - | - | 0 | |
Shares canceled for tax withholdings on vested stock awards | ||||||
3,627 | 34,203 | 5,837 | 2,860 | - | 0 | |
Redemption of OP Units for cash | ||||||
0 | 4,830 | 5,085 | 2,557 | 0 | - | |
Acquisition of noncontrolling interests | ||||||
- | - | - | 3,963 | 0 | - | |
Repurchase of exchangeable senior notes | ||||||
0 | 0 | 15,455 | 0 | 0 | - | |
Other financing activities, net | ||||||
-10,143 | -2,432 | -1,411 | 0 | -15,546 | - | |
Net cash provided by financing activities | ||||||
-3,779,586 | -788,404 | -1,364,381 | -491,251 | 1,060,674 | 98,933 | |
Effect of exchange rates on cash, cash equivalents and restricted cash | ||||||
1,748 | -11,538 | 11,482 | -4,554 | -6,480 | -410 | |
Net increase (decrease) in cash, cash equivalents and restricted cash | ||||||
591,968 | -561,190 | 896,034 | 124,824 | 43,918 | 101,662 | |
Cash held by investment entities consolidated | ||||||
- | - | - | - | 75,412 | - | |
Supplemental disclosure of non-cash investing and financing activities: | ||||||
Contributions from redeemable non-controlling interests | ||||||
- | - | - | - | - | 0 | |
Assumption of deferred tax liability | ||||||
- | - | - | - | - | 0 | |
Reclassification related to measurement adjustments/other | ||||||
- | - | - | - | - | 0 | |
Reallocation of non-controlling interests in the NSAM OP | ||||||
- | - | - | - | - | 0 | |
Tax effect related to the vesting of equity-based awards | ||||||
- | - | - | - | - | 11,294 | |
Issuance of common stock related to settlement of award (refer to Note 9) | ||||||
- | - | - | - | - | 0 | |
Allocation of redeemable non-controlling interests in Townsend | ||||||
- | - | - | - | - | 0 | |
Dividend payable related to RSUs | ||||||
- | - | - | - | - | 0 | |
Conversion of LTIP Units to common stock | ||||||
- | - | - | - | - | 0 | |
Issuance of common stock related to transactions (refer to Note 4) | ||||||
- | - | - | - | - | 10,310 | |
Conversion of Deferred LTIP Units to LTIP Units | ||||||
- | - | - | - | - | 0 | |
Deemed capital contribution from NorthStar Realty | ||||||
- | - | - | - | - | 4,811 | |
Accrued transaction costs relating to investments in unconsolidated ventures | ||||||
- | - | - | - | - | 1,538 | |
Distribution from unconsolidated ventures | ||||||
- | - | - | - | - | 0 | |
Equity incentive plan | ||||||
- | - | - | - | - | 88 | |
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: | ||||||
Cash paid for interest | ||||||
- | - | - | - | - | 0 | |
Cash paid for income taxes | ||||||
- | - | - | - | - | 6,700 | |
CPI | ||||||
Acquisition of business | ||||||
0 | 0 | 23,111 | - | - | - | |
THL Hotel Portfolio | ||||||
Acquisition of business | ||||||
0 | 0 | 8,976 | - | - | - | |
DBH | ||||||
Acquisition of business | ||||||
184,167 | 0 | 0 | - | - | - | |
DataBank | ||||||
Acquisition of business | ||||||
172,365 | 0 | 0 | - | - | - | |