XML 68 R36.htm IDEA: XBRL DOCUMENT
v3.3.0.814

DERIVATIVE INSTRUMENTS (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of breakdown of the derivatives outstanding | The following is a breakdown of the derivatives outstanding as of September 30, 2015 and December 31, 2014 ($ in thousands): September 30, 2015
|  |  |  | Fair Value |  | Remaining Maturity (years)
Contract Type |  | Notional |  | Asset(1) |  | Liability(1) |
Futures |  |  |  |  |  |  |  |  |  |  |
5-year Swap |  | $ | 591,800 |  |  | $ | 8 |  |  | $ | 6,575 |  |  | 0.25
10-year Swap |  | 513,400 |  |  | 2 |  |  | 9,976 |  |  | 0.25
Total futures |  | 1,105,200 |  |  | 10 |  |  | 16,551 |  |  |
Swaps |  |  |  |  |  |  |  |  |  |  |
3MO LIBOR |  | 80,000 |  |  | — |  |  | 5,026 |  |  | 3.24
Credit Derivatives |  |  |  |  |  |  |  |  |  |  |
CMBX |  | 33,500 |  |  | — |  |  | 365 |  |  | 3.31
CDX |  | 10,000 |  |  | 289 |  |  | — |  |  | 5.76
Total credit derivatives |  | 43,500 |  |  | 289 |  |  | 365 |  |  |
Total derivatives |  | $ | 1,228,700 |  |  | $ | 299 |  |  | $ | 21,942 |  |  |
December 31, 2014
|  |  |  | Fair Value |  | Remaining Maturity (years)
Contract Type |  | Notional |  | Asset(1) |  | Liability(1) |
Caps |  |  |  |  |  |  |  |  |  |  |
1MO LIBOR |  | $ | 71,250 |  |  | $ | — |  |  | $ | — |  |  | 0.66
Futures |  |  |  |  |  |  |  |  |  |  |
5-year Swap |  | 496,200 |  |  | 108 |  |  | 28 |  |  | 0.25
10-year Swap |  | 842,800 |  |  | 104 |  |  | 8,258 |  |  | 0.25
Total futures |  | 1,339,000 |  |  | 212 |  |  | 8,286 |  |  |
Swaps |  |  |  |  |  |  |  |  |  |  |
3MO LIBOR |  | 100,000 |  |  | — |  |  | 4,505 |  |  | 3.18
Credit Derivatives |  |  |  |  |  |  |  |  |  |  |
CMBX |  | 10,000 |  |  | 211 |  |  | — |  |  | 6.80
CDX |  | 33,500 |  |  | — |  |  | 654 |  |  | 3.97
Total credit derivatives |  | 43,500 |  |  | 211 |  |  | 654 |  |  |
Total derivatives |  | $ | 1,553,750 |  |  | $ | 423 |  |  | $ | 13,445 |  |  |
(1) Shown as derivative instruments, at fair value, in the accompanying combined consolidated balance sheets.
Schedule of net realized gains/(losses) and unrealized appreciation/(depreciation) on derivatives | The following table indicates the net realized gains/(losses) and unrealized appreciation/(depreciation) on derivatives, by primary underlying risk exposure, as included in net result from derivatives transactions in the combined consolidated statements of operations for the three and nine months ended September 30, 2015 and 2014 ($ in thousands):
| Three Months Ended September 30, 2015 |  | Nine Months Ended September 30, 2015
| Unrealized Gain/(Loss) |  | Realized Gain/(Loss) |  | Net Result from Derivative Transactions |  | Unrealized Gain/(Loss) |  | Realized Gain/(Loss) |  | Net Result from Derivative Transactions
Contract Type |  |  |  |  |  |  |  |  |  |  |
Futures | $ | (13,281 | ) |  | $ | (27,990 | ) |  | $ | (41,271 | ) |  | $ | (8,468 | ) |  | $ | (44,400 | ) |  | $ | (52,868 | )
Swaps | (768 | ) |  | (476 | ) |  | (1,244 | ) |  | (306 | ) |  | (1,574 | ) |  | (1,880 | )
Credit Derivatives | 291 |  |  | (18 | ) |  | 273 |  |  | 367 |  |  | (213 | ) |  | 154 |
Total | $ | (13,758 | ) |  | $ | (28,484 | ) |  | $ | (42,242 | ) |  | $ | (8,407 | ) |  | $ | (46,187 | ) |  | $ | (54,594 | )
| Three Months Ended September 30, 2014 |  | Nine Months Ended September 30, 2014
| Unrealized Gain/(Loss) |  | Realized Gain/(Loss) |  | Net Result from Derivative Transactions |  | Unrealized Gain/(Loss) |  | Realized Gain/(Loss) |  | Net Result from Derivative Transactions
Contract Type |  |  |  |  |  |  |  |  |  |  |
Caps | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (7 | ) |  | $ | (7 | )
Futures | 12,668 |  |  | (11,938 | ) |  | 730 |  |  | $ | (3,166 | ) |  | $ | (44,809 | ) |  | $ | (47,975 | )
Swaps | 1,103 |  |  | (801 | ) |  | 302 |  |  | 363 |  |  | (2,403 | ) |  | (2,040 | )
Credit Derivatives | 191 |  |  | (98 | ) |  | 93 |  |  | (20 | ) |  | (393 | ) |  | (413 | )
Total | $ | 13,962 |  |  | $ | (12,837 | ) |  | $ | 1,125 |  |  | $ | (2,823 | ) |  | $ | (47,612 | ) |  | $ | (50,435 | )

X
- Definition Tabular disclosure of net realized gains/(losses) and unrealized appreciation/(depreciation) on derivatives. + References No definition available. + Details
Name: | ladr_ScheduleOfDerivativeInstrumentsNetRealizedGainsLossesAndUnrealizedAppreciationDepreciationTableTextBlock
Namespace Prefix: | ladr_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=56946850&loc=d3e41641-113959 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5624163-113959 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=56946850&loc=d3e41678-113959 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=56946850&loc=d3e41638-113959 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5580258-113959 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5579245-113959 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5624171-113959 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 25 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6886632&loc=d3e76258-113986 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5579240-113959 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=56946850&loc=d3e41620-113959 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(n)(2)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration