Starwood Property Trust, Inc. STWD Income Statement

Starwood property trust, inc. (STWD)

Income statement / TTM

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	Sep'10
Revenues:
Interest income from loans
758,024	724,013	723,630	706,101	666,339	620,543	586,545	570,643	539,551	513,814	476,975	459,601	461,546	467,195	481,926	481,299	477,034	477,931	470,947	461,018	448,181	434,662	429,003	412,379	381,860	344,640	309,208	271,424	250,228	251,615	233,880	229,498	216,805	180,445	147,094	0	0	0
Interest income from investment securities
74,237	76,629	76,125	70,957	59,202	56,839	50,335	51,278	52,858	52,813	57,014	63,738	66,669	70,848	71,316	76,815	85,324	93,665	102,530	106,496	110,306	112,016	107,405	96,569	87,526	74,312	67,636	66,417	62,984	55,419	45,846	35,456	27,433	25,618	26,524	0	0	0
Servicing fees
34,656	54,296	55,334	68,825	77,132	78,766	85,080	72,098	73,411	61,446	65,607	73,683	78,367	88,956	97,050	106,660	113,502	117,068	124,971	127,084	129,611	135,565	138,042	142,536	0	-	0	0	-	-	-	-	-	-	-	-	-	-
Rental income
328,279	337,966	344,335	350,813	352,407	349,684	333,972	302,993	273,068	249,000	218,659	198,248	177,125	152,760	129,153	99,456	66,627	36,622	21,116	13,623	0	-	0	0	-	-	-	-	-	-	0	-	-	-	-	-	-	-
Other revenues
3,303	3,515	3,985	4,102	4,093	3,448	2,762	2,730	2,867	2,815	3,278	4,201	4,187	4,908	6,968	9,623	10,034	10,591	8,359	8,092	9,144	10,801	11,782	9,783	9,136	5,811	3,974	0	0	-	0	-	-	-	-	-	-	-
Total revenues
1,198,499	1,196,419	1,203,409	1,200,798	1,159,173	1,109,280	1,058,694	999,742	941,755	879,888	821,533	799,471	787,894	784,667	786,413	773,853	752,521	735,877	728,432	717,655	709,745	702,875	704,748	673,772	637,465	549,495	441,815	0	0	-	0	-	-	-	-	-	-	0
Costs and expenses:
Management fees
136,394	119,132	121,027	117,308	122,279	129,455	127,357	131,818	128,957	122,699	120,938	117,738	116,872	117,451	118,372	118,674	121,728	124,733	122,754	119,615	117,879	117,732	102,525	98,507	89,568	76,816	66,753	60,487	57,188	57,286	52,841	48,186	45,003	39,182	35,874	0	0	0
Interest expense
494,082	508,729	514,709	494,211	455,677	408,188	363,491	337,264	316,989	295,666	271,170	253,821	240,139	230,799	224,766	216,372	208,536	202,550	196,860	185,911	173,807	161,104	152,977	147,255	132,208	111,803	86,871	64,884	52,699	47,125	40,621	35,912	32,490	28,782	27,483	0	0	0
Investment pursuit costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-
General and administrative
158,884	155,112	149,533	140,970	138,920	136,132	132,619	134,308	131,300	129,587	129,105	147,683	150,572	152,941	158,944	146,167	152,162	154,628	148,187	157,134	158,824	169,661	191,007	190,841	192,082	150,019	98,672	54,282	12,678	11,663	10,592	9,685	9,714	8,795	8,841	0	0	0
Net interest margin
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	0	0	0	-
Business combination costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	17,958	0	0	0	-	-	-	-	-	-	-	-	-
Acquisition and investment pursuit costs
1,623	1,056	701	7,065	8,552	8,587	9,705	4,202	3,178	3,472	10,012	10,497	12,848	13,462	9,376	11,549	13,528	13,429	11,492	8,569	4,473	3,681	3,182	3,816	3,961	3,648	3,012	2,873	0	-	0	0	-	3,661	1,795	0	0	0
Costs of rental operations
121,545	122,982	126,161	124,784	127,026	127,068	119,338	112,946	103,073	94,258	86,284	80,496	73,324	65,101	52,799	37,140	22,499	11,542	7,044	6,366	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Residential properties and non-performing loans - other operating costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-
Depreciation and amortization
108,048	113,322	115,537	121,561	130,159	132,649	129,659	118,237	103,119	93,603	80,732	73,213	70,254	66,786	65,048	56,930	43,685	29,010	20,967	16,750	16,076	16,627	16,242	15,453	0	-	0	0	-	-	0	-	-	-	-	-	-	-
Credit loss provision, net
55,032	7,126	10,337	11,305	34,046	34,821	25,438	24,338	-3,615	-5,458	-2,806	-508	4,215	3,759	3,082	-1,712	-1,080	-2	425	4,667	1,867	2,047	1,941	1,526	2,390	1,923	0	0	0	-	-	-	-	-	-	-	-	-
Other expense
-2,542	-2,365	-1,832	-1,785	-839	-732	-823	-1,123	-768	-1,422	-1,293	-1,628	-1,686	-828	-1,578	-864	-664	-389	638	1,553	5,905	7,219	7,515	7,110	2,954	1,298	0	0	0	-	-	-	-	-	-	-	-	-
Total costs and expenses
1,078,150	1,029,824	1,039,837	1,018,989	1,017,498	977,632	908,430	864,236	783,769	735,249	696,728	684,568	669,710	651,127	633,209	585,234	561,172	536,279	509,065	501,372	486,467	484,009	479,449	468,334	451,262	373,166	281,546	0	0	-	0	-	-	-	-	-	-	-
Income before other income (loss), income taxes and non-controlling interests
-	-	-	-	-	-	-	-	-	-	124,805	114,903	118,184	-	153,204	188,619	191,349	199,598	219,367	216,283	223,278	218,866	225,299	205,438	186,203	176,329	160,269	0	0	-	0	-	-	-	-	-	-	0
Other (loss) income:
Change in net assets related to consolidated VIEs
142,980	236,309	200,765	172,287	161,075	165,892	179,214	202,102	235,917	252,434	260,313	251,984	224,930	151,593	126,479	128,296	133,462	185,490	175,095	213,208	204,363	212,506	238,773	182,944	0	-	0	0	-	-	-	-	-	-	-	-	-	-
Change in fair value of servicing rights
-3,266	-3,640	-3,519	-3,868	-5,155	-10,202	-12,013	-15,906	-21,704	-24,323	-48,715	-58,131	-62,321	-47,149	-40,751	-22,251	-7,408	-12,605	6,527	10,207	13,078	16,787	20,538	9,743	0	-	0	0	-	-	-	-	-	-	-	-	-	-
Change in fair value of investment securities, net
3,275	833	3,486	3,521	10,556	10,345	8,104	7,406	-2,789	-3,811	-4,748	-7,137	-3,325	-1,401	-1,194	4,209	4,336	3,084	3,461	2,704	6,217	15,077	9,561	5,423	-928	-8,884	0	0	0	-	-	-	-	-	-	-	-	-
Change in fair value of mortgage loans, net
44,201	71,601	79,627	51,046	43,988	40,522	48,076	63,621	64,194	66,987	49,613	80,124	77,953	74,251	83,398	52,484	50,080	64,320	73,446	69,881	70,658	70,420	73,875	58,816	0	-	0	0	-	-	-	-	-	-	-	-	-	-
Earnings (loss) from unconsolidated entities
-58,057	-101,354	-27,729	-27,851	-31,198	10,540	9,375	2,061	26,056	30,505	36,637	45,631	20,645	21,723	18,776	20,177	24,649	26,674	27,247	25,346	25,958	19,932	15,540	13,957	8,164	8,841	7,520	0	0	-	0	-	-	-	-	-	-	-
Gain on sale of investments and other assets, net
183,839	188,028	61,642	41,947	52,869	59,044	29,054	39,469	31,215	20,499	18,781	6,914	1,641	1,942	2,074	5,412	5,711	22,664	20,676	18,660	28,529	12,886	18,338	23,190	13,094	25,063	25,379	28,212	31,027	24,836	19,311	15,255	20,229	21,000	30,852	0	0	0
Gain (loss) on derivative financial instruments, net
5,607	-6,310	26,799	16,601	49,255	34,603	21,125	-14,834	-85,042	-72,532	11,368	33,264	91,103	70,734	7,482	12,040	-27,743	21,598	16,155	43,200	52,940	20,451	514	-51,212	-35,264	-11,170	-7,626	0	0	-	0	-	-	-	-	-	-	-
Foreign currency (loss) gain, net
-22,451	17,582	-22,586	-11,000	-17,247	-9,245	1,444	16,182	42,356	33,671	15,047	1,173	-28,725	-33,967	-30,566	-45,134	-7,292	-37,221	-40,965	-44,649	-61,726	-29,942	-9,324	21,722	19,525	10,383	0	0	0	-	-	-	-	-	-	-	-	-
Total other-than-temporary impairment ("OTTI")
-	-	0	-	-	-	0	-	-	-	0	0	-	54	-42	-42	-42	12	-468	-204	596	1,788	2,873	2,695	2,741	2,076	7,400	6,577	7,127	7,256	6,005	7,634	7,533	7,311	0	0	0	-
Foreign currency gain, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-46	0	0	0
Noncredit portion of OTTI recognized in other comprehensive income
-	-	0	-	-	-	-	-	-	-	0	-	-	-54	0	0	0	-	-	-	-	732	-1,302	-1,072	-1,556	-1,062	-1,067	0	0	-	0	-	-	-	-	-	-	-
Net impairment losses recognized in earnings
-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	1,056	1,571	1,623	1,185	1,014	-223	0	0	-	0	-	-	-	-	-	-	-
Loss on extinguishment of debt
-16,142	-19,270	-13,278	-8,840	0	-	0	0	-	-5,915	0	0	0	-	-	-	-	-5,921	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total expenses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	46,510	0	0	0
Income before other income (expense) and income taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	0	0	0	-
Interest income from cash balances
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	0	0	0	0
Other income (loss), net
-8	-207	-120	-1,491	-993	-812	945	2,394	1,987	2,244	2,996	3,237	11,860	13,510	12,587	12,382	3,678	1,708	3,213	3,177	3,859	3,832	1,112	1,123	0	-	0	0	-	7	685	1,480	595	-680	1,208	0	0	0
Total other (loss) income
279,978	383,572	304,545	229,456	254,044	294,879	282,599	302,310	292,082	299,650	339,964	355,731	332,542	242,455	181,629	162,525	168,450	269,791	265,834	315,353	311,585	307,319	300,716	256,016	229,504	177,653	142,278	0	0	-	0	-	-	-	-	-	-	-
Net gains (losses) on currency derivatives
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-2,892	0	0	0
Net gains on interest rate derivatives
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	0	0	0	-
Net gains on credit spread hedges
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-
Net change in unrealized (losses) on loans held-for-sale at fair value
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	0	0	0	-
Unrealized foreign currency remeasurement losses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	61	0	0	0
(Loss) income before income taxes
400,327	550,167	468,117	411,265	395,719	426,527	432,863	437,816	450,068	444,289	464,769	470,634	450,726	375,995	334,833	351,144	359,799	469,389	485,201	531,636	534,863	526,185	526,015	461,454	415,707	353,982	312,373	256,351	222,198	206,558	187,587	150,984	140,360	121,398	103,351	0	0	0
Income tax benefit (provision)
6,169	13,232	9,230	12,998	12,808	15,330	27,717	29,252	35,361	31,522	23,162	16,013	7,267	8,344	-6,745	-1,737	1,349	17,206	37,781	33,942	34,427	24,096	11,912	21,797	28,863	23,858	25,710	12,290	1,087	871	377	899	0	-	0	0	-	0
Income from continuing operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	502,089	514,103	439,657	386,844	330,124	0	0	0	-	-	-	-	-	-	-	-	-
Loss from discontinued operations, net of tax (Note 3)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1,551	-9,301	-12,999	-19,057	-19,794	0	0	0	-	-	-	-	-	-	-	-	-
Net (loss) income
394,158	536,935	458,887	398,267	382,911	411,197	405,146	408,564	414,707	412,767	441,607	454,621	443,459	367,651	341,578	352,881	358,450	452,183	447,420	497,694	500,436	500,538	504,802	426,658	367,787	310,330	272,614	233,710	216,818	203,682	186,317	150,478	139,171	120,608	102,823	0	0	0
Net income attributable to non-controlling interests
21,646	27,271	28,960	24,200	26,630	25,367	18,844	18,370	16,363	11,997	12,151	7,827	2,572	2,465	1,231	1,565	1,459	1,486	1,666	3,631	5,653	5,517	6,316	5,856	4,399	5,300	6,223	4,467	3,539	2,487	428	323	1,082	1,231	1,791	0	0	0
Net (loss) income attributable to Starwood Property Trust, Inc.
372,512	509,664	429,927	374,067	356,281	385,830	386,302	390,194	398,344	400,770	429,456	446,794	440,887	365,186	340,347	351,316	356,991	450,697	445,754	494,063	494,783	495,021	498,486	420,802	363,388	305,030	266,391	229,243	213,279	201,195	185,889	150,155	138,089	119,377	101,032	0	0	0
Basic:
Income from continuing operations (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.41	0.73	0.53	0.62	0.53	0.53	0.41	0.47	-	-	-	-	-	-	-	-	-
Loss from discontinued operations (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.00	0.00	0.00	-0.01	-0.05	-0.02	-0.04	-0.01	-	-	-	-	-	-	-	-	-
Basic (in dollars per share)
-0.24	0.61	0.50	0.45	0.25	0.34	0.31	0.41	0.38	0.35	0.34	0.45	0.39	0.50	0.44	0.47	0.11	0.41	0.49	0.49	0.53	0.41	0.73	0.53	0.61	0.48	0.51	0.37	0.46	0.40	0.43	0.40	0.53	0.38	0.16	0.40	0.44	0.47
Diluted:
Income from continuing operations (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.39	0.73	0.52	0.61	0.53	0.53	0.41	0.47	-	-	-	-	-	-	-	-	-
Loss from discontinued operations (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.00	0.00	0.00	-0.01	-0.05	-0.02	-0.04	-0.01	-	-	-	-	-	-	-	-	-
Diluted (in dollars per share)
-0.24	0.60	0.49	0.45	0.25	0.33	0.31	0.40	0.38	0.36	0.33	0.44	0.39	0.48	0.44	0.47	0.11	0.41	0.49	0.49	0.52	0.39	0.73	0.52	0.60	0.48	0.51	0.37	0.46	0.40	0.43	0.40	0.53	0.41	0.15	0.39	0.43	0.47
Basic (in shares)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	47,837
Diluted (in shares)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	48,626
Dividend declared (in dollars per share)
-	-	-	-	-	-	-	-	-	-	0.48	0.48	0.48	-	0.48	0.48	0.48	-	0.48	0.48	0.48	-	0.48	0.48	0.48	-	0.46	0.46	0.44	-	0.44	0.44	0.44	-	0.44	0.44	0.42	0.33