CORPORATE LOANS AND ALLOWANCE FOR LOAN LOSSES (Tables)

3 Months Ended

Mar. 31, 2015

The following table summarizes the Company’s corporate loans, at estimated fair value as of March 31, 2015 and December 31, 2014 (amounts in thousands):



	March 31, 2015						December 31, 2014
	Par		Amortized Cost		Estimated Fair Value		Par		Amortized Cost		Estimated Fair Value
Corporate loans, at estimated fair value	$	6,304,720	$	6,153,832	$	6,031,524	$	6,907,373	$	6,710,570	$	6,506,564
Total	$	6,304,720	$	6,153,832	$	6,031,524	$	6,907,373	$	6,710,570	$	6,506,564

Schedule of realized and unrealized (losses) gains from corporate loans

The following tables present the Company’s realized and unrealized gains (losses) from corporate loans for the three months ended March 31, 2015 (amounts in thousands):



	Three Months Ended March 31, 2015
Net realized gains (losses)	$	(16,182	)
Net decrease in unrealized losses	82,274
Net realized and unrealized gains (losses)	$	66,092

Schedule of corporate loans pledged as collateral

The following table summarizes the corporate loans, at estimated fair value, pledged as collateral as of March 31, 2015 and December 31, 2014 (amounts in thousands):



	March 31, 2015		December 31, 2014
Pledged as collateral for collateralized loan obligation secured debt	$	5,564,728	$	6,205,292
Total	$	5,564,728	$	6,205,292

Predecessor Company

Summary of corporate loans

Schedule of changes in the allowance for loan losses

The following table summarizes the changes in the allowance for loan losses for the Company’s corporate loan portfolio during the three months ended March 31, 2014 (amounts in thousands):



	For the three months ended March 31, 2014
Allowance for loan losses:
Beginning balance	$	224,999
Provision for loan losses	—
Charge-offs	(1,458		)
Ending balance	$	223,541

Schedule of average recorded investment in impaired loans and interest income recognized

The following table summarizes the Company’s average recorded investment in impaired loans and interest income recognized for the three months ended March 31, 2014 (amounts in thousands):



	For the three months ended March 31, 2014
	Average Recorded Investment(1)		Interest Income Recognized
With no related allowance recorded	$	—	$	—
With an allowance recorded	476,011		3,543
Total	$	476,011	$	3,543


(1)	Recorded investment is defined as amortized cost plus accrued interest.

Schedule of loans by class modified as troubled debt restructurings

The following table presents the aggregate balance of loans whose terms had been modified in a TDR during the three months ended March 31, 2014 (dollar amounts in thousands):



	Three Months Ended March 31, 2014
	Number of TDRs	Pre-modification outstanding recorded investment(1)		Post-modification outstanding recorded investment(1)(2)
Troubled debt restructurings:
Loans held for investment	1	$	154,075	$	—
Loans at estimated fair value	2	41,347		24,571
Total		$	195,422	$	24,571


(1)	Recorded investment is defined as amortized cost plus accrued interest.


(2)	Excludes equity securities received from the loans held for investment and/or loans at estimated fair value TDRs with an estimated fair value of $92.0 million and $12.3 million, from the two issuers, respectively.