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CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($)
$ in Thousands
Total Ready Capital Corporation Equity
Preferred stock
Series B Preferred Stock
Preferred stock
Series D Preferred Stock
Preferred stock
Series E Preferred Stock
Common Stock
Additional Paid-in-Capital
Retained Earnings (Deficit)
Accumulated Other Comprehensive Loss
Noncontrolling Interests
Total
Balance at beginning of period at Dec. 31, 2020 $ 815,396       $ 5 $ 849,541 $ (24,203) $ (9,947) $ 18,812 $ 834,208
Balance at beginning of period (in shares) at Dec. 31, 2020         54,368,999          
Increase (Decrease) in Stockholders' Equity                    
Dividend declared on common stock (85,215)           (85,215)     (85,215)
Dividend declared on OP units                 (1,458) (1,458)
Dividend declared on Series B preferred shares (1,162)           (1,162)   (1) (1,163)
Dividend declared on Series C preferred shares (361)           (361)     (361)
Dividend declared on Series D preferred shares (1,074)           (1,074)   (1) (1,075)
Dividend declared on Series E preferred shares (2,907)           (2,907)     (2,907)
Shares issued pursuant to merger transactions 337,778 $ 47,984 $ 50,257   $ 2 239,535       337,778
Shares issued pursuant merger to merger transactions (shares)   1,919,378 2,010,278   16,774,337          
Equity issuances 136,736     $ 111,378   25,358       136,736
Shares issued       4,600,000 1,660,449          
Equity redemptions (98,241) $ (47,984) $ (50,257)             (98,241)
Equity redemptions (shares)   (1,919,378) (2,010,278)              
Offering costs (498)         (498)     (8) (506)
Distributions, net                 (150) (150)
Equity component of 2017 convertible note issuance (305)         (305)     (6) (311)
Stock-based compensation 2,454         2,454       2,454
Stock-based compensation (shares)         161,342          
Share repurchases (614)         (614)       (614)
Share repurchases (shares)         (45,303)          
Net income 104,527           104,527   1,859 106,386
Other comprehensive income (loss) 3,671             3,671 78 3,749
Balance at end of period at Sep. 30, 2021 1,210,185     $ 111,378 $ 7 1,115,471 (10,395) (6,276) 19,125 1,229,310
Balance at end of period (in shares) at Sep. 30, 2021       4,600,000 72,919,824          
Balance at beginning of period at Jun. 30, 2021 1,269,526 $ 47,984 $ 50,257 $ 111,378 $ 7 1,090,162 (23,105) (7,157) 18,857 1,288,383
Balance at beginning of period (in shares) at Jun. 30, 2021   1,919,378 2,010,278 4,600,000 71,231,422          
Increase (Decrease) in Stockholders' Equity                    
Dividend declared on common stock (31,070)           (31,070)     (31,070)
Dividend declared on OP units                 (494) (494)
Dividend declared on Series C preferred shares (131)           (131)     (131)
Dividend declared on Series E preferred shares (1,868)           (1,868)     (1,868)
Equity issuances 25,358         25,358       25,358
Shares issued         1,660,449          
Equity redemptions (98,241) $ (47,984) $ (50,257)             (98,241)
Equity redemptions (shares)   (1,919,378) (2,010,278)              
Offering costs (428)         (428)     (7) (435)
Equity component of 2017 convertible note issuance (103)         (103)     (2) (105)
Stock-based compensation 109         109       109
Stock-based compensation (shares)         36,015          
Share repurchases 373         373       373
Share repurchases (shares)         (8,062)          
Net income 45,779           45,779   756 46,535
Other comprehensive income (loss) 881             881 15 896
Balance at end of period at Sep. 30, 2021 1,210,185     $ 111,378 $ 7 1,115,471 (10,395) (6,276) 19,125 1,229,310
Balance at end of period (in shares) at Sep. 30, 2021       4,600,000 72,919,824          
Balance at beginning of period at Dec. 31, 2021 1,276,104     $ 111,378 $ 8 1,161,853 8,598 (5,733) 4,494 1,280,598
Balance at beginning of period (in shares) at Dec. 31, 2021       4,600,000 75,838,050          
Increase (Decrease) in Stockholders' Equity                    
Dividend declared on common stock (145,331)           (145,331)     (145,331)
Dividend declared on OP units                 (2,156) (2,156)
Dividend declared on Series C preferred shares (393)           (393)     (393)
Dividend declared on Series E preferred shares (5,604)           (5,604)     (5,604)
Shares issued pursuant to merger transactions 437,311       $ 3 437,308       437,311
Shares issued pursuant merger to merger transactions (shares)         30,252,764          
Non-controlling interest acquired in merger transaction                 82,257 82,257
Retirement of OP units                 (1,500) (1,500)
Equity issuances 124,515         124,515       124,515
Shares issued         8,100,926          
Offering costs (1,017)         (1,017)     (8) (1,025)
Distributions, net                 (10,145) (10,145)
Equity component of 2017 convertible note issuance (332)         (332)     (3) (335)
Stock-based compensation 4,207         4,207       4,207
Stock-based compensation (shares)         281,372          
Share repurchases (5,114)         (5,114)       (5,114)
Share repurchases (shares)         (457,757)          
OP units issued pursuant to merger transaction                 20,745 20,745
Sale of subsidiary interest to non-controlling interest                 167 167
Reallocation of noncontrolling interest (1,350)         (1,401)   51 1,350  
Net income 182,809           182,809   6,672 189,481
Other comprehensive income (loss) 1,177             1,177 8 1,185
Balance at end of period at Sep. 30, 2022 1,866,982     $ 111,378 $ 11 1,720,019 40,079 (4,505) 101,881 1,968,863
Balance at end of period (in shares) at Sep. 30, 2022       4,600,000 114,015,355          
Balance at beginning of period at Jun. 30, 2022 1,859,452     $ 111,378 $ 11 1,723,580 27,298 (2,815) 102,613 1,962,065
Balance at beginning of period (in shares) at Jun. 30, 2022       4,600,000 114,375,070          
Increase (Decrease) in Stockholders' Equity                    
Dividend declared on common stock (48,450)           (48,450)     (48,450)
Dividend declared on OP units                 (686) (686)
Dividend declared on Series C preferred shares (131)           (131)     (131)
Dividend declared on Series E preferred shares (1,868)           (1,868)     (1,868)
Retirement of OP units                 (1,500) (1,500)
Offering costs (114)         (114)     (2) (116)
Distributions, net                 (1,392) (1,392)
Equity component of 2017 convertible note issuance (113)         (113)     (1) (114)
Stock-based compensation 167         167       167
Stock-based compensation (shares)         11,596          
Share repurchases (3,820)         (3,820)       (3,820)
Share repurchases (shares)         (371,311)          
Sale of subsidiary interest to non-controlling interest                 167 167
Reallocation of noncontrolling interest 316         319   (3) (316)  
Net income 63,230           63,230   3,023 66,253
Other comprehensive income (loss) (1,687)             (1,687) (25) (1,712)
Balance at end of period at Sep. 30, 2022 $ 1,866,982     $ 111,378 $ 11 $ 1,720,019 $ 40,079 $ (4,505) $ 101,881 $ 1,968,863
Balance at end of period (in shares) at Sep. 30, 2022       4,600,000 114,015,355