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Operating Expenses (Tables) | 12 Months Ended
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Dec. 31, 2023
Other Income and Expenses [Abstract] |
Schedule of General and Administrative Expenses and Other Expenses | Components of our general and administrative expenses, portfolio management costs, loan acquisition costs, and other expenses for the years ended December 31, 2023, 2022 and 2021 are presented in the following table. Table 22.1 – Components of Operating Expenses
|  | Years Ended December 31,
(In Thousands) |  | 2023 |  | 2022 |  | 2021
General and Administrative Expenses |  |  |  |  |  |
Fixed compensation expense(1) |  | $ | 53,525 |  |  | $ | 63,642 |  |  | $ | 46,328 |
Annual variable compensation expense |  | 14,752 |  | 12,873 |  |  | 58,569 |
Long-term incentive award expense (2) |  | 24,854 |  | 23,101 |  |  | 19,938 |
Acquisition-related equity compensation expense (3) |  | — |  | — |  |  | 3,813 |
Systems and consulting |  | 12,454 |  |  | 14,193 |  |  | 14,445 |
Office costs |  | 8,590 |  |  | 8,574 |  |  | 7,837 |
Accounting and legal |  | 5,191 |  |  | 6,644 |  |  | 4,975 |
Corporate costs |  | 3,628 |  |  | 3,675 |  |  | 3,388 |
Other |  | 5,301 |  |  | 8,206 |  |  | 5,925 |
Total General and Administrative Expenses |  | 128,295 |  |  | 140,908 |  |  | 165,218 |
Portfolio Management Costs |  | 14,571 |  |  | 7,951 |  |  | 5,758 |
Loan Acquisition Costs |  |  |  |  |  |
Commissions |  | 3,746 |  |  | 7,154 |  |  | 7,116 |
Underwriting costs |  | 1,633 |  |  | 3,368 |  |  | 7,645 |
Transfer and holding costs |  | 1,787 |  |  | 1,244 |  |  | 1,458 |
Total Loan Acquisition Costs |  | 7,166 |  |  | 11,766 |  |  | 16,219 |
Other Expenses |  |  |  |  |  |
Amortization of purchase-related intangible assets |  | 12,430 |  |  | 13,969 |  |  | 15,304 |
Other(4) |  | 3,808 |  |  | 1,621 |  |  | 1,391 |
Total Other Expenses |  | 16,238 |  |  | 15,590 |  |  | 16,695 |
Total Operating Expenses |  | $ | 166,270 |  |  | $ | 176,215 |  |  | $ | 203,890 |
(1)Includes $2 million and $7 million of severance and transition-related expenses for the years ended December 31, 2023 and 2022, respectively. (2)For the years ended December 31, 2023, 2022 and 2021, long-term incentive award expense includes $18 million, $20 million and $14 million, respectively, of expense for awards settleable in shares of our common stock and $6 million, $3 million and $6 million, respectively, of expense for awards settleable in cash. (3)Acquisition-related equity compensation expense relates to 588,260 shares of restricted stock that were issued to members of CoreVest management as a component of the consideration paid to them for our purchase of their interests in CoreVest in 2019. (4)For the year ended December 31, 2023, Other includes a $6 million allocation of income to our servicing investment co-investors, net of a contra-expense for the reversal of a $2 million litigation reserve.

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- Definition Tabular disclosure of each detailed component of other operating costs and expenses that are applicable to sales and revenues, but not included in the cost of sales in the income statement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.3) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2 + Details
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