Ladder Capital Corp LADR Income Statement

Ladder capital corp (LADR)

Income statement / Yearly

Dec'19	Dec'18	Dec'17	Dec'16	Dec'15	Dec'14	Dec'13	Dec'12
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Tax
-	-	-	-	-	-	0	-
Net interest income
Interest income
330,235	344,816	263,667	236,372	241,539	187,325	121,578	136,198
Interest expense
204,353	194,291	146,118	120,827	113,303	77,574	48,745	36,440
Net interest income (expense)
125,882	150,525	117,549	115,545	128,236	109,751	72,833	99,757
Provision for loan losses
2,600	13,900	0	300	600	600	600	448
Net interest income after provision for loan losses
123,282	136,625	117,549	115,245	127,636	109,151	72,233	99,308
Other income (loss)
Operating lease income
106,366	106,177	96,671	77,277	80,465	56,649	37,395	8,331
Tenant recoveries
-	-	-	5,958	9,907	9,183	3,271	0
Sale of loans, net
54,758	16,511	54,046	26,009	71,066	145,275	146,708	151,661
Realized gain (loss) on securities
14,911	-5,808	17,209	7,724	24,007	26,977	4,231	19,013
Unrealized gain (loss) on equity securities
1,737	-1,605	0	0	-	-	-	-
Unrealized gain (loss) on Agency interest-only securities
84	555	1,405	-56	-1,249	2,144	-2,665	-5,680
Realized gain (loss) on sale of real estate, net
1,392	95,881	11,423	20,636	40,386	29,760	13,565	1,275
Impairment of real estate
1,350	0	0	-	-	-	-	-
Fee and other income
24,403	26,285	18,341	21,365	15,205	11,704	7,922	8,787
Net result from derivative transactions
-30,011	15,926	-12,641	-1,409	-38,937	-94,798	28,075	-35,650
Earnings (loss) from investment in unconsolidated joint ventures
3,432	790	89	426	371	1,990	3,203	1,256
Gain on assignment of mortgage loan financing
-	-	-	-	-	432	0	0
Gain (loss) on extinguishment/defeasance of debt
-1,070	-4,392	-73	5,382	0	-150	0	0
Total other income (loss)
174,652	250,320	186,470	163,312	201,221	189,166	241,705	148,993
Costs and expenses
Salaries and employee benefits
67,768	60,117	70,463	64,270	61,612	82,144	61,038	51,090
Operating expenses
22,595	21,696	21,421	20,552	25,103	25,398	14,937	9,571
Real estate operating expenses
23,323	29,799	33,216	30,545	37,869	32,670	17,404	0
Real estate acquisition costs
-	-	-	-	-	2,404	3,626	5,797
Fee expense
6,090	5,055	4,996	3,703	4,521	3,023	2,955	6,164
Depreciation and amortization
38,511	41,959	40,332	39,447	39,061	28,447	21,515	3,640
Total costs and expenses
158,287	158,626	170,428	158,517	168,166	174,086	121,475	76,264
Income (loss) before taxes
139,647	228,319	133,591	120,040	160,691	124,231	192,463	172,038
Income tax expense (benefit)
2,646	6,643	7,712	6,320	14,557	26,605	3,730	2,583
Net income (loss)
137,001	221,676	125,879	113,720	146,134	97,626	188,733	169,454
Net (income) loss attributable to noncontrolling interest in consolidated joint ventures
-694	15,864	226	-138	1,568	-370	-1,098	-49
Pre-IPO net loss attributable to predecessor unitholders
-	-	-	-	-	12,628	189,831	169,503
Net (income) loss attributable to noncontrolling interest in operating partnership
15,050	25,797	30,377	47,131	70,745	66,437	-189,831	-
Net income (loss) attributable to Class A common shareholders
-	-	-	-	-	44,187	-	-
Earnings per share:
Basic (in dollars per share)
1.16	1.85	1.16	1.08	1.43	0.90	-	-
Diluted (in dollars per share)
1.15	1.84	1.13	1.06	1.42	0.86	-	-
Weighted average shares outstanding:
Basic (in shares)
105,455	97,226	81,902	61,998	51,702	49,296	-	-
Diluted (in shares)
106,399	97,652	109,704	107,638	51,870	97,583	-	-
Dividends per share of Class A common stock (in dollars per share)
-	-	-	1.28	-	-	-	-
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Tax
-	-	-	-	-	-	0	-
Class A Common Stock
Net income (loss) attributable to Class A common shareholders
122,645	180,015	95,276	66,727	-	-	-	-
Basic (in dollars per share)
1.16	1.85	1.16	1.08	-	-	-	-
Diluted (in dollars per share)
1.15	1.84	1.13	1.06	-	-	-	-
Basic (in shares)
105,455	97,226	81,902	61,998	-	-	-	-
Diluted (in shares)
106,399	97,652	109,704	107,638	-	-	-	-
Dividends per share of Class A common stock (in dollars per share)
1.36	1.53	1.21	1.28	-	-	-	-