| Dec'10 | Dec'09 | ||||
|---|---|---|---|---|---|
Net income (loss) available to common shares | |||||
255,474 | 1,460,280 | ||||
Net loss attributable to non-parent interests in CLOs | |||||
-61,174 | - | ||||
Distributions on preferred securities of subsidiary | |||||
3,162 | 3,417 | ||||
Net income (loss) | |||||
197,462 | 1,463,697 | ||||
Net unrealized gains on CLO loans and securities | |||||
69,139 | - | ||||
Net unrealized losses on CLO notes | |||||
-218,104 | - | ||||
Net realized gains by the CLOs | |||||
56,977 | - | ||||
Depreciation and amortization | |||||
1,114 | 1,250 | ||||
Share-based compensation | |||||
11,169 | 4,728 | ||||
Net unrealized (gains) losses on credit swaps | |||||
296,540 | 1,483,763 | ||||
Net amortization of premium and discount on securities | |||||
-7,945 | -687 | ||||
Gain on retirement of long-term debt | |||||
9,866 | 43,151 | ||||
Impairment loss on investments | |||||
- | 761 | ||||
Other | |||||
3,763 | -1,047 | ||||
CLO cash and cash equivalents | |||||
45,394 | - | ||||
CLO other assets | |||||
-21,499 | - | ||||
CLO other liabilities | |||||
-398 | - | ||||
CLO proceeds from sale of CLO loans and securities | |||||
848,643 | - | ||||
CLO purchases of CLO loans and securities | |||||
817,513 | - | ||||
Restricted cash | |||||
4,050 | 90,610 | ||||
Accrued interest and premiums | |||||
-303 | -305 | ||||
Other assets | |||||
4,646 | 3,123 | ||||
Purchases of trading account assets | |||||
131,101 | - | ||||
Sales of trading account assets | |||||
131,124 | 3,940 | ||||
Accounts payable and accrued expenses | |||||
-2,420 | 2,923 | ||||
Payable for credit events | |||||
-25,149 | 25,410 | ||||
Restructuring liabilities | |||||
3,729 | - | ||||
Other liabilities | |||||
-1,410 | 2,577 | ||||
Net cash provided by (used in) operating activities | |||||
-27,274 | -113,322 | ||||
Business acquisition, net of cash received | |||||
3,427 | 2,214 | ||||
Fixed asset purchases | |||||
47 | 121 | ||||
Payments received from CLO investments | |||||
-1,224 | -94 | ||||
Purchases of available-for-sale investments, including restricted investments | |||||
206,911 | 321,596 | ||||
Maturities and sales of available-for-sale investments | |||||
187,266 | 493,399 | ||||
Net cash provided by (used in) investing activities | |||||
-21,895 | 169,562 | ||||
Repayment of CLO notes by the CLOs | |||||
-37,651 | - | ||||
Retirement of long-term debt | |||||
18,676 | 23,192 | ||||
Purchase and retirement of common shares | |||||
13,150 | 10,352 | ||||
Purchase of preferred securities of subsidiary | |||||
- | 908 | ||||
Net preferred distributions of subsidiary | |||||
3,162 | 3,417 | ||||
Net cash used in financing activities | |||||
-72,639 | -37,869 | ||||
Net effect of exchange rate changes on cash | |||||
30 | 231 | ||||
Net increase (decrease) in cash | |||||
-121,778 | 18,602 | ||||
Cash paid for interest | |||||
5,709 | 10,159 | ||||
Cash paid for taxes | |||||
103 | 137 | ||||
Adoption of ASC Topic 810, Consolidation | |||||
265,639 | - | ||||
Deconsolidation of CLOs | |||||
-204,465 | - | ||||