Starwood Property Trust, Inc. STWD Cash Flow

Starwood property trust, inc. (STWD)

CashFlow / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11
Cash Flows from Operating Activities:
Net (loss) income
-66,269	177,980	150,001	132,446	76,508	99,932	89,381	117,090	104,794	93,881	92,799	123,233	102,854	122,721	105,813	112,071	27,046	96,648	117,116	117,640	120,779	91,885	167,390	120,382	120,881	96,149	89,246	61,511	63,424	58,433	50,342	44,619	50,288	41,068	14,503	33,312	31,725
Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities:
Amortization of deferred financing costs, premiums and discounts on secured borrowings
9,634	10,146	8,503	8,256	9,183	9,676	6,658	6,331	5,167	5,167	4,807	4,638	4,686	4,129	3,849	4,238	3,974	3,562	3,896	3,649	3,510	2,353	2,958	2,648	2,895	2,683	2,058	1,793	3,193	1,773	1,445	1,319	1,132	1,390	957	1,039	394
Amortization of discounts and deferred financing costs on unsecured senior notes
1,962	1,930	1,981	1,916	1,933	2,111	2,839	2,966	3,869	4,017	5,737	5,684	6,093	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-9,627	-5,702	-7,702	-21,622	-8,505	-6,791	-6,973	-4,697
Amortization of discounts and deferred financing costs on senior notes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	5,351	5,277	-	5,128	5,140	5,363	5,289	3,167	3,221	2,988	2,845	3,041	1,811	841	-375	-222	-226	-221	-222	-225	-224	-216
Accretion of net discount on investment securities
2,783	1,453	2,481	5,102	2,755	3,240	2,430	2,742	6,841	3,539	3,662	3,750	4,257	4,560	4,618	3,976	3,373	4,244	3,998	5,711	10,603	7,849	5,494	4,282	7,398	6,751	6,916	7,388	9,180	8,900	10,568	8,880	5,616	5,619	5,111	4,100	3,241
Accretion of net deferred loan fees and discounts
12,080	11,194	8,081	8,586	7,526	9,145	7,993	8,909	12,052	12,070	10,820	8,675	7,519	9,575	15,447	14,666	8,696	63,477	-8,476	-7,960	-10,179	38,042	-6,609	-8,341	-1,806	-17,726	-12,674	-6,387	-7,856	-	-	-	-	-	-	-	-
Amortization of net discount from secured borrowings on transferred loans
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	4	-	-38	-37	-787	-444	-480	-357	-374	-	-	-	-	-	-	-	-
Share-based compensation
8,800	9,791	12,976	7,025	6,363	6,304	5,849	5,837	4,768	4,861	5,211	4,920	3,159	9,836	8,137	7,593	7,067	5,691	8,573	10,391	7,491	7,121	6,770	7,524	7,207	3,474	4,041	4,173	4,656	3,867	4,236	4,295	3,765	3,311	2,991	3,557	3,884
Share-based component of incentive fees
9,080	938	0	0	10,977	2,150	2,844	4,815	10,983	5,189	2,166	2,697	9,547	3,178	1,434	2,300	10,923	2,551	2,089	3,294	9,445	2,133	2,028	3,654	3,308	2,385	2	-1	366	-	-	-	-	-	-	-	-
Change in fair value of investment securities
2,504	-162	266	667	62	2,491	301	7,702	-149	250	-397	-2,493	-1,171	-687	-2,786	1,319	753	-480	2,617	1,446	-499	-103	1,860	4,959	8,361	-	-	-	-	-	-	-	-	-	-	-	-
Change in fair value of consolidated VIEs
-80,683	34,814	21,027	12,090	-133	5,235	-6,711	7,643	11,241	10,323	16,567	21,916	20,677	13,637	3,528	8,139	-54,038	-28,208	-13,775	-9,320	5,657	-18,546	45,495	3,733	21,877	-	-	-	-	-	-	-	-	-	-	-	-
Change in fair value of servicing rights
-393	-1,332	-625	-916	-767	-1,211	-974	-2,203	-5,814	-3,022	-4,867	-8,001	-8,433	-	-	-	6,739	-21,016	4,217	2,652	1,542	-1,884	7,897	5,523	5,251	-	-	-	-	-	-	-	-	-	-	-	-
Change in fair value of loans
-16,134	5,923	32,521	21,891	11,266	13,949	3,940	14,833	7,800	21,503	19,485	15,406	10,593	4,129	49,996	13,235	6,891	13,276	19,082	10,831	21,131	22,402	15,517	11,608	20,893	-	-	-	-	0	0	0	-5,760	7,485	-10,679	5,767	3,187
Gain on sale of available-for-sale securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,435	9,138	2,913	46	181	0	4,309	6,163
Gain on sale of loans
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	977	6	-116	7,287	-23	4,961	3,462	1,914
Gain on foreign currency remeasurement
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-337	0	9,146	-	-	-	-
Change in fair value of derivatives
7,617	-27,484	20,539	-1,100	-3,396	6,489	10,907	31,501	-18,069	-5,846	-23,240	-36,323	-2,900	78,482	-1,028	21,225	-23,557	15,784	3,983	-17,942	26,724	10,051	31,089	-9,384	-7,110	-10,032	-21,564	7,442	16,318	-	-	-	-	-	-	-	-
Foreign currency loss (gain), net
-34,486	34,716	-15,664	-7,017	5,547	-5,424	-4,103	-13,171	13,540	5,228	10,621	12,761	4,829	-13,293	-3,198	-16,767	-402	-9,738	-17,713	20,757	-30,416	-13,599	-21,231	3,972	1,492	6,894	9,348	1,523	-7,390	3,842	7,062	-3,330	-1,025	-2,273	-9,403	1,174	3,984
Unrealized gains on interest rate hedges
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	253	-77	289	9,779	-188	-6,869	-5,918	1,688
Unrealized (gains) losses on currency hedges
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-4,144	-8,172	3,426	-8,573	3,081	8,703	-2,113	-3,916
Unrealized gains on credit hedges
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-2,280	2,628	-187
Gain on sale of investments and other assets
296	159,871	21,157	2,515	4,485	33,485	1,462	13,437	10,660	3,495	11,877	5,183	-56	1,777	10	-90	245	1,909	3,348	209	17,198	-78	1,332	10,077	2,498	16,587	8,062	662	15,004	-	-	-	-	0	0	0	27
Impairment charges on properties and related intangibles
-	102	0	1,272	120	5	1,452	387	25	47	232	109	758	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other-than-temporary impairment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	797	213	-	-	-	42	1,674	676	1,396	656	3,380	892	1,295	434
Credit loss provision, net
48,669	3,884	-39	2,518	763	7,095	929	25,259	1,538	-2,288	-171	-2,694	-305	364	2,127	2,029	-761	-313	-2,667	2,661	317	114	1,575	-139	497	8	1,160	725	30	-	-	-	-	-	-	-	-
Depreciation and amortization
23,864	27,222	28,756	28,527	28,889	29,078	33,903	36,445	31,412	25,959	22,236	21,404	21,297	12,490	14,417	17,905	16,759	11,359	6,794	5,387	3,692	3,444	2,628	4,764	5,786	6,903	4,656	2,653	713	-	-	-	-	-	-	-	-
(Earnings) loss from unconsolidated entities
97	-69,718	2,747	8,817	-43,200	3,907	2,625	5,470	-1,462	2,742	-4,689	29,465	2,987	8,874	4,305	4,479	4,065	47,421	-5,706	-8,951	-6,090	-6,500	-3,805	-9,563	-64	-	-	-	-	-	-	-	-	-	-	-	-
Distributions of earnings from unconsolidated entities
27	1,901	1,674	4,395	3,661	916	432	1,894	2,675	62,826	432	1,641	2,643	4,832	5,334	4,088	5,729	4,417	3,913	7,722	7,030	5,891	3,338	5,060	956	-	-	-	-	-	-	-	-	-	-	-	-
Loss on extinguishment of debt
-170	-8,532	-4,624	-2,816	-3,298	-	-	-	-	1	0	0	-5,916	-	-	-	-	0	0	-629	-5,292	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Origination and purchase of loans held-for-sale, net of principal collections
621,832	993,806	949,597	880,511	719,589	718,623	572,455	569,127	245,027	711,577	496,470	545,653	445,690	483,463	697,632	288,015	200,433	423,304	535,424	476,386	413,027	625,992	577,025	320,300	261,733	-	-	-	-	-	-	-	-	0	0	159,635	110,431
Other liabilities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	13,447	-2,764	-576	9,995	-6,630	-12,404	17,713	-4,577
Proceeds from sale of loans held-for-sale
751,140	1,402,846	846,047	367,045	561,702	1,003,880	761,344	215,133	266,632	594,222	517,350	291,182	179,296	760,840	648,179	218,369	256,964	656,345	410,227	551,635	482,009	504,939	498,790	364,332	302,461	-	-	-	-	0	0	-116	132,128	-23	154,365	83,472	56,312
Changes in operating assets and liabilities:
Related-party payable, net
-1,659	16,439	3,342	-2,801	-20,098	18,757	-38	-6,457	-10,588	12,380	7,211	-3,219	-11,821	14,029	3,583	-3,784	-16,965	18,151	-1,755	-3,114	-13,078	15,885	391	-4,983	11,665	-9,478	3,382	12,786	9,307	-10,742	828	-1,633	5,002	594	-65	610	2,159
Accrued and capitalized interest receivable, less purchased interest
31,465	42,250	17,645	31,725	22,536	24,947	1,096	26,806	9,412	31,045	23,889	19,532	19,611	17,796	17,124	17,801	23,350	17,662	16,125	14,844	17,341	22,744	10,930	21,903	-3,063	23,784	3,618	6,787	-1,802	6,113	-644	4,054	1,870	2,948	4,237	1,617	2,180
Other assets
40,944	-82,936	94,453	-8,490	26,760	-40,555	17,310	8,850	6,188	23,102	9,807	536	1,855	-6,215	547	2,064	-8,779	-1,091	18,124	12,519	-1,067	-7,783	-4,343	-9,939	20,474	-25,560	1,905	10,808	-5,839	6,213	-5,075	10,644	-11,388	9,087	-4,181	7,556	2,846
Accounts payable, accrued expenses and other liabilities
-6,764	-2,724	9,419	10,834	-22,987	2,158	22,912	31,697	-31,612	-14,665	34,604	17,449	-14,686	-3,204	25,518	1,538	-30,593	-8,976	-7,401	5,472	-23,282	6,046	-17,210	-7,213	-22,574	-689	5,694	-5,591	35,984	21	3,216	600	2	-131	-2,121	1,855	-79
Purchase of mortgage-backed securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	50,597	95,819	178,099	301,772	21,249	94,544	96	92,493
Net cash provided by (used in) operating activities
190,732	556,592	-86,941	-390,132	-92,718	410,823	322,314	-240,063	92,396	-24,411	122,609	-149,016	-196,021	355,460	52,620	17,421	131,129	345,990	-35,265	180,806	114,146	-15,835	6,102	126,118	104,324	152,322	-21,338	110,475	84,855	34,131	40,721	16,603	174,127	8,476	163,161	-46,014	-46,219
Cash Flows from Investing Activities:
Proceeds from sale of mortgage-backed securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	61,781	199,464	0	46	3,578	0	191,109	92,669
Proceeds from mortgage-backed securities maturities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	15,361	0	5,605	6,160
Mortgage-backed securities principal paydowns
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	21,682	24,417	22,936	20,099	19,088	17,474	43,320	34,033
Origination and purchase of loans held-for-investment
1,252,745	2,485,714	936,039	764,645	1,287,001	933,811	1,090,947	1,503,196	900,937	1,039,729	966,306	607,817	621,135	1,231,705	586,207	525,184	472,237	690,101	413,340	606,898	649,886	910,749	846,311	549,042	728,594	1,005,027	1,006,343	522,080	129,817	810,671	498,600	225,220	218,872	540,210	96,550	629,245	292,685
Proceeds from principal collections on loans
812,187	819,376	970,294	786,640	556,058	831,855	384,678	970,497	870,400	892,356	800,862	643,258	226,039	480,085	994,201	1,000,830	192,813	494,722	358,799	413,160	285,741	226,473	379,332	270,590	316,428	375,034	254,138	46,827	93,651	-	-	-	-	-	-	-	-
Proceeds from loans sold
39,019	196,345	101,722	343,073	500,271	93,353	547,776	49,447	145,273	15,530	0	0	37,079	146,448	115,157	23,394	97,882	37,620	220,928	293,455	85,121	160,516	138,958	56,114	146,400	66,197	272,131	52,859	44,631	-	-	-	-	-	-	-	-
Purchase and funding of investment securities
5,729	-	-	-	-	-	-	-	-	-	-	-	-	831	8,868	266,305	84,337	19,000	15,595	80,176	67,247	122,192	13,777	43,563	9,890	397,089	23,278	22,301	37,175	-	-	-	-	-	-	-	-
Proceeds from sales of investment securities
7,940	3,348	0	750	3,228	-	-	-	-	445	0	700	10,434	-	-	-	-	109	1,203	385	4,713	0	49,947	22,336	27,883	20,551	206,973	216,424	19,480	-	-	-	-	-	-	-	-
Proceeds from principal collections on investment securities
13,559	86,768	45,857	65,281	7,754	27,167	34,070	102,457	219,230	22,890	123,644	10,209	76,050	38,474	22,772	25,200	22,344	80,479	100,316	236,037	11,737	13,296	21,885	10,887	8,227	13,624	16,669	18,398	21,726	-	-	-	-	-	-	-	-
Deposit on property acquisition
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	18,178	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Real estate business combinations, net of cash and restricted cash acquired
-	-	-	-	-	-	-	-	-	-	-	-	-	758,764	0	17,547	73,639	-	-	-	-	-	-	-	-	0	0	545,718	40,665	-	-	-	-	-	-	-	-
Proceeds from sales of real estate
-	291,560	50,495	378	1,463	206,326	9,401	45,054	51,093	-	-	-	-	-	-	-	-	2,520	0	0	33,056	0	0	0	1,784	6,921	2,601	735	3,360	-	-	-	-	-	-	-	-
Purchases and additions to properties and other assets
7,056	7,888	12,552	1,899	8,526	10,031	7,972	29,713	7,056	9,175	539,252	23,068	2,435	5,754	4,688	2,675	2,846	-	-	-	435	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Investment in unconsolidated entities
3,100	9,690	7,580	275	510	-	-	-	-	-	-	-	-	7,278	16	3,843	11	373	-2	4,024	28,041	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Distribution of capital from unconsolidated entities
153	5,672	2,414	9,155	886	13	161	32	21,255	10,394	623	108	3,127	869	13,782	330	914	1,852	6,876	10,831	11,296	23,067	8,402	12,710	17,834	3,305	1,641	1,419	150	0	298	291	303	-	-	-	-
Proceeds from sale of treasury securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	112,741
Cash deposited as collateral under treasury securities loan agreement
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-112,741
Payments for purchase or termination of derivatives
67,323	6,475	16,148	16,316	3,896	11,371	837	1,769	15,604	-690	1,453	7,055	32,700	2,866	9,810	2,533	12,611	8,783	4,377	7,777	6,117	3,847	1,828	2,979	11,274	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from termination of derivatives
8,912	25,777	4,080	8,207	692	5,002	1,714	2,034	11,773	7,770	705	5,650	17,331	47,962	10,205	19,537	7,910	6,353	5,412	17,794	6,988	385	3,519	1,293	799	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from sale of other investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	1	2,843
Return of investment basis in purchased derivative asset
-	-	-	-	-	-	-	-	-	0	30	59	62	66	69	68	69	77	83	87	90	291	424	391	407	415	505	510	518	-	-	-	968	-	-	-	-
(Increase) decrease in restricted cash, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	6,686	-10,764	-5,326	6,622	-14,831	6,175	-234	-37,585	13,063	3,757	38,040	-	-	-	-	-	-	-	-
Spin-off of Starwood Waypoint Residential Trust
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	111,960	-	-	-	-	-	-	-	-	-	-	-	-
Loan maturities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	154,438	41,922	271,160	147,707	-	-	-	-
Proceeds from sale of loans and participations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	315,691	-46	0	28,786	-	-	-	-
Loan investment repayments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	21,705	18,237	9,070	6,211	13,841	3,706	3,633	5,753
Purchased interest on investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	387	47	154	437	1,196	185	443	287
Investments in other investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-15,672	2,730	27,667	99	0	2,849	25,513	8,726
Acquisition and improvement of single family homes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	61,901	183,366	196,418	147,390	114,925	-	-	-	-	-	-	-	-
Purchase of non-performing loans
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	33,122	20,184	28,815	104,142	-	-	-	-	-	-	-	-
Proceeds from sale of non-performing loans
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	1,153	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in investing activities
-454,183	-1,174,014	197,378	430,349	-229,581	-108,272	-2,420,089	-387,875	395,427	-127,559	-655,720	32,867	-286,148	-1,278,457	549,127	252,541	-323,749	-409,829	109,270	206,360	-325,836	-799,600	-247,847	-264,913	-402,470	-1,135,138	-487,438	-923,778	-281,248	-433,704	-311,172	-126,729	-317,060	-434,720	-3,166	-311,439	-252,733
Cash Flows from Financing Activities:
Proceeds from borrowings
2,756,915	4,083,130	2,812,424	960,883	2,310,902	2,567,577	3,843,403	1,486,494	1,515,241	2,183,437	1,955,918	928,554	1,205,691	2,865,112	1,099,321	1,068,407	991,192	-	-	-	-	-	-	-	-	-	-	-	347,521	407,174	572,254	415,015	383,037	587,541	237,663	455,898	322,927
Proceeds from issuance of convertible senior notes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	450,226	0	587,700	-	-	-	-	-	-	-	-
Borrowings under financing agreements
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	959,310	1,143,286	1,320,732	1,825,004	1,110,052	809,462	997,767	-	-	-	-	-	-	-	-	-	-	-	-
Principal repayments on and repurchases of borrowings
1,923,754	3,121,329	2,870,700	900,237	1,778,819	2,480,160	1,469,876	781,125	1,629,449	1,862,330	1,133,758	632,892	957,529	2,127,581	1,427,417	1,084,655	626,462	1,045,717	844,021	1,598,628	847,288	960,120	949,785	853,479	656,573	761,401	1,472,597	1,025,461	625,513	410,812	328,192	658,487	177,694	88,359	360,016	533,768	98,028
Payment of deferred financing costs
3,577	27,035	27,015	13,682	4,706	3,999	43,214	9,499	10,506	5,665	8,827	2,244	5,967	19,505	11,362	468	5,969	7,825	6,822	5,791	1,263	4,978	3,655	463	7,418	13,028	4,752	8,505	24	591	4,577	1,202	2,250	2,695	1,652	363	177
Proceeds from common stock issuances
153	135	253	212	167	149	145	155	159	161	172	186	183	448,931	122	95	82	67	65	326,241	55	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payment of equity offering costs
14	0	19	3	5	-	-	-	-	0	0	0	647	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payment of dividends
135,889	135,905	135,218	134,786	132,515	131,870	126,425	125,941	125,730	125,602	126,136	125,419	124,506	114,681	114,519	114,527	114,624	114,824	115,400	108,434	108,189	108,054	108,013	95,423	90,171	90,130	76,899	60,148	73,796	51,629	51,603	41,439	41,431	41,556	41,678	30,539	29,081
Contributions from non-controlling interests
9,406	178,226	658	4,541	95	4,341	155	8,601	310	-	-	-	-	970	0	3,833	6,584	-	-	-	-	-	-	-	-	200	392	1,001	6	-	-	-	-	-	-	-	-
Distributions to non-controlling interests
66,476	8,427	10,677	23,902	6,952	9,257	9,596	8,154	229,397	88,491	3,920	1,873	1,726	1,534	3,050	1,768	582	862	467	433	359	298	173	1,621	31,788	190	380	3,436	44,098	23,979	203	164	191	74	14	8,402	851
Purchase of treasury stock
28,800	-	-	-	-	0	0	0	12,100	-	-	-	-	0	0	0	19,723	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Issuance of debt of consolidated VIEs
24,376	34,591	49,725	66,546	33,678	75,625	18,901	0	7,948	13,948	1,469	5,429	4,759	35,132	0	0	596	0	1,619	750	6,763	942	16,656	25,995	45,761	-	-	-	-	-	-	-	-	-	-	-	-
Repayment of debt of consolidated VIEs
36,953	214,840	66,507	38,952	52,856	244,066	68,063	41,035	57,289	44,825	13,284	21,654	57,445	80,120	55,369	91,794	55,729	217,692	125,701	68,991	51,538	6,391	29,961	46,378	53,385	-	-	-	-	-	-	-	-	-	-	-	-
Distributions of cash from consolidated VIEs
24,723	7,035	17,196	9,728	11,683	15,989	17,386	45,178	13,730	29,614	23,957	7,884	30,956	16,562	17,745	15,441	7,545	8,034	12,106	10,794	3,790	-5,070	19,188	10,673	2,740	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by financing activities
620,080	795,581	-229,880	-69,652	380,672	-205,671	2,162,811	574,657	-527,073	100,248	695,696	157,971	93,769	1,022,568	-494,529	-205,436	182,910	35,289	-146,888	-304,366	322,703	746,029	54,368	430,183	206,933	763,435	677,863	1,007,068	191,796	433,045	221,809	170,402	161,471	455,436	-171,890	331,491	194,790
Net increase in cash, cash equivalents and restricted cash
356,629	178,159	-119,443	-29,435	58,373	96,880	65,036	-53,281	-39,250	-51,722	162,585	41,822	-388,400	99,571	107,218	64,526	-9,710	-28,550	-72,883	82,800	111,013	-69,406	-187,377	291,388	-91,213	-219,381	169,087	193,765	-4,597	33,472	-48,642	60,276	18,538	29,192	-11,895	-25,962	-104,162
Effect of exchange rate changes on cash
733	1,214	-2,097	-351	-254	964	-228	-927	398	1,559	658	837	179	-2,108	123	-2,169	1,420	-1,038	-827	2,958	-5,480	-2,729	-3,928	768	57	-	-	-	-	-	-	-	-	-	-	-	-
Supplemental disclosure of cash flow information:
Cash paid for interest
109,341	114,192	114,899	123,043	129,349	96,432	93,945	71,532	75,696	73,086	64,040	62,541	51,023	39,042	54,050	41,707	50,254	33,718	45,460	32,760	48,448	21,709	44,979	20,591	44,638	24,642	31,968	12,044	10,536	7,632	11,105	10,392	13,143	5,718	4,555	7,307	7,613
Income taxes paid
569	2,436	1,578	6,786	484	2,677	2,091	5,252	880	13,045	4,360	3,094	268	6,704	861	1,255	922	1,915	9,593	14,760	2,903	15,571	4,248	12,067	2,725	18,286	22,580	1,887	327	-	-	-	-	0	216	684	174
Supplemental disclosure of non-cash investing and financing activities:
Consolidation of VIEs (VIE asset/liability additions)
2,477,422	4,264,902	1,999,780	824,070	3,280,065	6,446,267	1,623,863	725,189	1,089,881	1,832,854	964,564	0	1,127,952	2,171,228	2,268,424	1,746,946	15,103,275	3,982,562	2,410,232	1,244,019	4,413,608	2,268,451	3,103,149	3,755,019	20,236,513	-	-	-	-	-	-	-	-	-	-	-	-
Deconsolidation of VIEs (VIE asset/liability reductions)
-	35,885	37,359	257,917	45,910	254,317	372,812	147,116	875,240	235,858	135,678	580,452	1,528,137	313,677	277,325	2,535,712	2,591,268	2,546,632	1,797,217	3,463,522	17,841	889,246	2,464,507	4,748,806	1,289,569	-	-	-	-	-	-	-	-	-	-	-	-
Unsettled trades and loans receivable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	206,608	-	-	-	-	-	-	-	-
Reclassification of residential loans held-for-investment to held-for-sale
422,691	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net assets acquired from consolidated VIEs
-	-	-	-	-	0	0	0	27,737	-	-	-	-	48,512	30,201	60,463	42,513	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Fair value of assets acquired, net of cash and restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	773,091	0	48,896	221,125	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Fair value of liabilities assumed
-	-	-	-	-	-	-	-	-	-	-	-	-	14,327	0	22,943	147,486	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net assets distributed in spin-off of Starwood Waypoint Residential Trust
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	1,008,377	-	-	-	-	-	-	-	-	-	-	-	-
Contribution of Woodstar II Portfolio net assets from non-controlling interests
-	-	-	-	-	38,211	12,034	0	366,381	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loan principal collections temporarily held at master servicer
9,779	-	-	-	-	-	-	-	326,362	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Redemption of Class A Units for common stock
8,538	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Settlement of 2019 Convertible Notes in shares
-	0	0	0	75,525	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Settlement of loans transferred as secured borrowings
-	0	0	0	74,692	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net assets acquired through foreclosure
-	25,862	0	18,453	8,963	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Unsettled infrastructure loan sales
-	-	-	-	68,564	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-