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v3.19.1

Condensed Consolidated Statement of Operations (Unaudited) - USD ($) $ in Thousands | 3 Months Ended
--- | ---
Mar. 31, 2019 | Mar. 31, 2018
Net interest income: |  |
Interest income from commercial mortgage loans | $ 78,286 | $ 52,114
Interest income from subordinate loans | 40,839 | 33,853
Interest expense | (36,295) | (22,740)
Net interest income | 82,830 | 63,227
Operating expenses: |  |
General and administrative expenses (includes equity-based compensation of $3,901 and $3,342 in 2019 and 2018, respectively) | (6,151) | (4,998)
Management fees to related party | (9,613) | (8,092)
Total operating expenses | (15,764) | (13,090)
Other income | 518 | 203
Foreign currency gain | 6,894 | 10,125
Loss on derivative instruments (includes unrealized losses of $14,985 and $8,855 in 2019 and 2018, respectively) | (6,720) | (11,032)
Net income | 67,758 | 49,433
Preferred dividends | (6,835) | (6,835)
Net income available to common stockholders | $ 60,923 | $ 42,598
Net income per share of common stock: |  |
Basic (in dollars per share) | $ 0.45 | $ 0.38
Diluted (in dollars per share) | $ 0.43 | $ 0.38
Basic weighted-average shares of common stock outstanding (in shares) | 134,607,107 | 110,211,853
Diluted weighted-average shares of common stock outstanding (in shares) | 164,683,086 | 111,871,429
Dividend declared per share of common stock (in dollars per share) | $ 0.46 | $ 0.46

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