Component: (Network and Table)
Network
00400 - Statement - CONSOLIDATED STATEMENTS OF CASH FLOWS
(http://www.sutherlandam.com/role/StatementConsolidatedStatementsOfCashFlows)
Table(Implied)
Slicers (applies to each fact value in each table cell)
Reporting Entity [Axis]0001527590 (http://www.sec.gov/CIK)
CONSOLIDATED STATEMENT OF CASH FLOWSPeriod [Axis]
2016-01-01 - 2016-12-31
2015-01-01 - 2015-12-31
2014-01-01 - 2014-12-31
CONSOLIDATED STATEMENT OF CASH FLOWS
 
 
 
Cash Flows From Operating Activities:
 
 
 
Net income
53,406,000  
44,768,000  
32,722,000  
Less: Net loss from discontinued operations
(2,158,000) 
(653,000) 
(2,671,000) 
Net income from continuing operations
55,564,000  
45,421,000  
35,393,000  
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
 
 
 
Discount accretion and premium amortization of financial instruments, net
(17,978,000) 
(22,195,000) 
(34,167,000) 
Amortization of guaranteed loan financing, deferred financing costs, and intangible assets
19,457,000  
9,782,000  
6,306,000  
Provision for loan losses
7,819,000  
19,643,000  
11,797,000  
Charge off of real estate acquired in settlement of loans
1,833,000  
849,000  
749,000  
Decrease in repair and denial reserve
(1,258,000) 
(10,120,000) 
(3,216,000) 
Purchase of short-term investments and trading securities
(1,569,614,000) 
(253,752,000) 
(349,990,000) 
Proceeds from sale of short-term investments and trading securities
1,569,992,000  
255,087,000  
100,338,000  
Net settlement of derivative instruments
(2,058,000) 
(4,621,000) 
(2,542,000) 
Origination of loans, held for sale, at fair value
(621,343,000) 
  
Proceeds from disposition and principal payment of loans, held for sale, at fair value
645,954,000  
  
Gain on bargain purchase
(15,218,000) 
  
Net realized gains on financial instruments
(15,996,000) 
(181,000) 
(7,037,000) 
Net unrealized gains on financial instruments
(15,081,000) 
(5,732,000) 
(6,461,000) 
Net changes in operating assets and liabilities
 
 
 
Assets of consolidated VIEs, accrued interest and due from servicers
(21,817,000) 
(1,983,000) 
(4,869,000) 
Other assets
(13,354,000) 
4,625,000  
(26,039,000) 
Accounts payable and other accrued liabilities
9,580,000  
(8,322,000) 
23,251,000  
Net cash provided by (used in) operating activities
16,482,000  
 
28,501,000  
 
(256,487,000) 
 
Net cash (used in) provided by operating activities of discontinued operations
(1,719,000) 
428,000  
(588,000) 
Cash Flow From Investing Activities:
 
 
 
Origination of loans, held at fair value
(147,823,000) 
(346,442,000) 
(261,977,000) 
Purchase of loans, held-for-investment
(98,683,000) 
(172,097,000) 
(646,686,000) 
Origination of loans, held-for-investment
(167,516,000) 
(105,838,000) 
(32,889,000) 
Purchase of mortgage backed securities, at fair value
(17,388,000) 
(77,918,000) 
(192,293,000) 
Purchase of real estate
  
(1,311,000) 
Purchase of servicing rights
  
(42,340,000) 
Purchase of intangible assets
  
(2,183,000) 
Payment of liability under participation agreements
(2,318,000) 
(3,746,000) 
(3,854,000) 
Proceeds from disposition and principal payment of loans, held at fair value
39,671,000  
145,804,000  
17,796,000  
Proceeds from disposition and principal payment of loans, held-for-investment
440,294,000  
342,806,000  
231,590,000  
Proceeds from sale and principal payment of mortgage backed securities, at fair value
297,250,000  
17,908,000  
34,507,000  
Proceeds from sale of real estate
6,633,000  
7,565,000  
11,096,000  
Proceeds from liabilities under participation agreements
 
17,000  
2,014,000  
Proceeds from sale of intangible assets
 
2,500,000  
 
Assumption of repair and denial reserve
  
21,407,000  
Decrease/(Increase) in restricted cash
(357,000) 
2,016,000  
(15,051,000) 
Decrease in cash held as collateral
  
(220,000) 
Cash acquired in connection with the reverse merger with ZFC
34,932,000  
  
Net cash provided by (used in) investing activities
384,695,000  
 
(187,425,000) 
 
(880,394,000) 
 
Net cash used in investing activities of discontinued operations
 
(1,264,000) 
(460,000) 
Cash Flows From Financing Activities:
 
 
 
Proceeds from borrowings under credit facilities
164,018,000  
90,745,000  
462,485,000  
Proceeds from issuance of securitized debt obligations of consolidated VIEs
150,367,000  
374,818,000  
144,615,000  
Proceeds from borrowings under repurchase agreements
4,296,634,000  
8,923,929,000  
1,466,825,000  
Proceeds from guaranteed loan financing
  
116,306,000  
Proceeds from promissory note payable
9,164,000  
  
Payment of borrowings under credit facilities
(155,177,000) 
(121,619,000) 
(202,623,000) 
Payments of securitized debt obligations of consolidated VIEs
(123,093,000) 
(91,407,000) 
(20,500,000) 
Payment of borrowings under repurchase agreements
(4,493,024,000) 
(8,907,533,000) 
(954,587,000) 
Payment of guaranteed loan financing
(122,603,000) 
(86,039,000) 
(10,156,000) 
Payment of promissory note payable
(1,786,000) 
  
Payment of senior exchangeable note
(57,500,000) 
  
Payment of deferred financing costs
(1,456,000) 
(2,575,000) 
(6,687,000) 
(Redemption)/Issuance of preferred stock
(130,000) 
 
108,000  
Dividend payments on preferred stock
(8,000) 
  
Dividend payments on common stock
(46,866,000) 
(35,609,000) 
(17,317,000) 
Payment of offering costs
 
(121,000) 
(1,879,000) 
Shares redeemed pursuant to reverse merger transaction
(1,000) 
  
Net cash provided by (used in) financing activities
(381,461,000) 
 
144,589,000  
 
976,590,000  
 
Net increase (decrease) in cash and cash equivalents
17,997,000  
 
(15,171,000) 
 
(161,339,000) 
 
Cash and cash equivalents at beginning of period
41,569,000  
56,740,000  
218,079,000  
Cash and cash equivalents at end of period
59,566,000  
 
41,569,000  
 
56,740,000  
 
Supplemental disclosure of operating cash flow
 
 
 
Cash paid for interest
54,686,000  
45,334,000  
17,707,000  
Cash paid for taxes
5,795,000  
6,995,000  
1,136,000  
Supplemental disclosure of non-cash investing activities
 
 
 
Loans and borrowings brought on books as a result of the ReadyCap Lending Small Business Trust 2015-1 securitization
 
474,198,000  
 
Securitized loans transferred from Loans, held at fair value to Loans, held-for-investment
174,332,000  
225,811,000  
186,497,000  
Loans transferred from Loans, held for sale, at fair value to Loans, held-for-investment
482,000  
  
Loans transferred from Loans, held at fair value to Loans, held for sale, at fair value
11,499,000  
  
Supplemental disclosure of non-cash financing activities
 
 
 
Dividend reinvestment in common stock
1,806,000  
7,448,000  
3,625,000  
Dividend reinvestment in operating partnership units
359,000  
2,740,000  
654,000  
Common stock issued in connection with the reverse merger with ZAIS Financial Corp
62,329,000  
  
Shares issued to investment manager pursuant to management agreement, not in thousands
482,391