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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities:    
Net loss $ (6,556) $ (1,223)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Provision for loan losses 438 5,124
Loss on sale and payoff of loans and mark-to-market of loans 38 532
Loss on repurchase, reissuance or early retirement of debt 458 2,838
Change in other investments:    
Income from investments in equity method investees (1,557) (259)
Unrealized gain on other investments (1,781) (672)
Realized loss on other investments 473
Depreciation and amortization 1,659 1,482
Share-based compensation expense 1,994 1,549
Gain on deconsolidation (3,520)
Distributions of investment income from equity method investments 1,558 1,139
Other, net 114 296
Net change in operating assets and liabilities:    
Increase in interest receivable (5,029) (745)
Decrease (increase) in receivables (2,419) 2,624
Decrease in marketable securities 16,131 1,951
Decrease (increase) in deposits and other assets (9,479) 6,138
Decrease in marketable securities sold, but not yet purchased (771) (3,293)
Increase (decrease) in interest payable (4,063) 4,698
Decrease in accrued compensation (11,089) (1,522)
Increase in other liabilities 4,983 1,517
Net cash provided by (used in) operating activities (18,891) 22,647
Cash flows from investing activities:    
Purchases of fixed assets (1,388) (1,153)
Purchases of other investments (12,604) (1,921)
Sales or distributions from other investments 10,441 14,042
Funding of loans collateralizing asset-backed securities issued (35,153) (434,820)
Funding of loans held for investment (25,679) (339,874)
Sale, payoff and principal receipts of loans collateralizing asset-backed securities issued 23,806 399,161
Sale, payoff and principal receipts on loans held for investment 7,941 29,516
Net decrease in cash and restricted cash due to deconsolidation of subsidiaries (27,771)
Net cash used in investing activities (60,448) (335,049)
Cash flows from financing activities:    
Repayment of bonds payable (35,925) (9,980)
Proceeds from bond issuance 36,000
Proceeds from drawdowns on line of credit 16,583 286,250
Repayment of note payable (10,600) (325,000)
Proceeds from issuance of repurchase agreement 3,878
Repayment of repurchase agreement (3,878)
Proceeds from sale of note payable to affiliate 829
Payment of debt issuance costs (1,887) (1,897)
Repayment of asset-backed securities issued (801) (332,379)
Proceeds of issuance from asset-backed securities issued 699,107
Reissuance of asset-back securities 4,453
Distributions and distribution equivalents paid on common shares and RSUs (3,526) (7,874)
Capital contributions of nonredeemable non-controlling interest holders 449
Purchase of common shares for treasury (8,615) (3,250)
Distributions to non-controlling interest shareholders (977) (2,414)
Employee taxes paid on shares withheld for tax-withholding purposes (554) (405)
Net cash provided by (used in) financing activities (2,552) 307,889
Net decrease in cash, cash equivalents, and restricted cash (81,891) (4,513)
Cash, cash equivalents and restricted cash, beginning of period 132,808 137,321
Cash, cash equivalents and restricted cash, end of period 50,917 132,808
Supplemental disclosures of cash flow information:    
Cash paid during the period for interest 20,521 44,854
Cash paid (received) during the period for taxes, net of refunds (2,485) 2,399
Non-cash investing and financing activities:    
Reissuance of shares of common share from treasury related to vesting of restricted share units and exercises of share options 2,194 1,678
Distributions declared but not yet paid 640
Acquisition of equity securities in restructuring of loans 736 809
Leasehold improvement directly paid for by the lessor 1,890
Transfer of loans held for investment to loans collateralizing asset-backed securities issued upon securitization of CLO V 362,213
Initial recognition of operating lease right-of-use assets 23,604
Initial recognition of operating lease right-of-use liabilities 29,278
Carrying value of noncash assets derecognized on deconsolidation of subsidiaries 1,226,848
Carrying value of noncash liabilities derecognized on deconsolidation of subsidiaries 1,161,933
Carrying value of non-controlling interest derecognized on deconsolidation of subsidiaries 12,842
Fair value of marketable securities recognized on deconsolidation of subsidiaries 76,879
Fair value of other investments recognized on deconsolidation of subsidiaries 7,516
CNB [Member]    
Cash flows from financing activities:    
Proceeds from drawdowns on line of credit 16,583
Repayment of note payable (10,600)
BNP Paribas [Member]    
Cash flows from financing activities:    
Proceeds from drawdowns on line of credit 7,750 286,250
Repayment of note payable $ (325,000)