v3.19.1
Condensed Consolidated Statement of Operations - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Net Interest Income    
Interest income $ 36,016 $ 28,092 [1]
Interest expense (17,618) (11,562)
Total net interest income 18,398  
Other income   716
Total investment income   28,808
Other Income (Loss)    
Realized gains (losses) on securities and loans, net (5,322)  
Realized gains (losses) on financial derivatives, net (11,570)  
Realized gains (losses) on real estate owned, net (58)  
Unrealized gains (losses) on securities and loans, net 26,388  
Unrealized gains (losses) on financial derivatives, net (5,689) 4,044
Unrealized gains (losses) on real estate owned, net (247)  
Other, net 2,002  
Total other income (loss) 5,504  
Expenses    
Base management fee to affiliate (Net of fee rebates) 1,722 [2] 1,978 [3]
Other investment related expenses    
Servicing expense 2,393 1,456
Other 1,083 1,496
Professional fees 1,956 648
Administration fees   179
Compensation expense 1,072 510
Insurance expense   125
Directors' fees and expenses   73
Share-based long term incentive plan unit expense 116 93
Other expenses   446
Other expenses 985  
Total expenses   18,566
Total expenses 9,211  
NET INVESTMENT INCOME   10,242
Net realized gain (loss) on:    
Investments   12,584
Financial derivatives, excluding currency hedges   902
Financial derivatives—currency hedges   (2,204)
Foreign currency transactions 25 1,769
Total net realized gain (loss)   13,051
Change in net unrealized gain (loss) on:    
Investments   (6,851)
Other secured borrowings   784
Financial derivatives, excluding currency hedges   3,197
Financial derivatives—currency hedges   800
Foreign currency translation 21 101
Net unrealized gain (loss)   (1,969)
NET REALIZED AND CHANGE IN NET UNREALIZED GAIN (LOSS) ON INVESTMENTS, OTHER SECURED BORROWINGS, FINANCIAL DERIVATIVES, AND FOREIGN CURRENCY TRANSACTIONS/TRANSLATION   11,082
NET INCREASE IN EQUITY RESULTING FROM OPERATIONS   21,324
Net Income (Loss) before Earnings from Investments in Unconsolidated Entities 14,691  
Earnings from investments in unconsolidated entities 1,797  
Net Income (Loss) 16,488  
Net Income (Loss) Attributable to Non-Controlling Interests 1,080 285
Net Income (Loss) Attributable to Common Stockholders $ 15,408 $ 21,039
Net Income (Loss) per Common Share:    
Basic and Diluted (USD per share) $ 0.52 $ 0.67
Dividends declared (in usd per share) $ 0.55 $ 0.41
[1] Includes interest income and interest expense of a consolidated securitization trust of $1.3 million and $0.9 million, respectively, for the three-month period ended March 31, 2018. See Note 6 for further details on the Company's consolidated securitization trust.
[2] See Note 13 for further details on management fee rebates.
[3] See Note 9 for further details on management fee rebates.