XML 14 R4.htm IDEA: XBRL DOCUMENT v3.21.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
NET INTEREST INCOME:        
Interest income $ 52,323 $ 45,358 $ 154,548 $ 303,941
Interest expense 21,292 19,829 61,702 202,807
Total net interest income 31,031 25,529 92,846 101,134
NON-INTEREST INCOME (LOSS):        
Realized gains (losses), net 8,314 (1,067) 20,361 (149,919)
Realized loss on de-consolidation of Consolidated K-Series 0 0 0 (54,118)
Unrealized gains (losses), net 30,138 81,198 80,157 (212,711)
Income from equity investments 8,015 9,966 22,021 14,573
Impairment of goodwill 0 0 0 (25,222)
Income from operating real estate 3,980 0 7,626 0
Other loss (1,035) 431 2,244 337
Total non-interest income (loss) 49,412 90,528 132,409 (427,060)
GENERAL, ADMINISTRATIVE AND OPERATING EXPENSES:        
General and administrative expenses 12,458 10,159 36,419 32,570
Expenses related to operating real estate 8,549 0 15,386 0
Portfolio operating expenses 7,039 3,265 18,558 8,812
Total general, administrative and operating expenses 28,046 13,424 70,363 41,382
INCOME (LOSS) FROM OPERATIONS BEFORE INCOME TAXES 52,397 102,633 154,892 (367,308)
Income tax expense (benefit) 1,215 (772) 1,296 917
NET INCOME (LOSS) 51,182 103,405 153,596 (368,225)
Net loss (income) attributable to non-controlling interest in consolidated variable interest entities 394 (1,764) 3,428 (704)
NET INCOME (LOSS) ATTRIBUTABLE TO COMPANY 51,576 101,641 157,024 (368,929)
Preferred stock dividends (11,272) (10,297) (31,865) (30,890)
Preferred stock redemption charge (3,443) 0 (3,443) 0
NET INCOME (LOSS) ATTRIBUTABLE TO COMPANY'S COMMON STOCKHOLDERS $ 36,861 $ 91,344 $ 121,716 $ (399,819)
Basic earnings (loss) per common share (in dollars per share) $ 0.10 $ 0.24 $ 0.32 $ (1.08)
Diluted earnings (loss) per common share (in dollars per share) $ 0.10 $ 0.23 $ 0.32 $ (1.08)
Weighted average shares outstanding-basic (in shares) 379,395 377,744 379,193 368,740
Weighted average shares outstanding-diluted (in shares) 380,983 399,709 381,105 368,740