XML 35 R9.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Cash Flow (USD $)
In Thousands, unless otherwise specified
3 Months Ended 12 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Dec. 31, 2013
Dec. 31, 2012
Cash flows from operating activities:        
Net income available to common stockholders $ 1,025 $ 1,318    
Net income attributable to non-controlling interest 298 4,105    
Net (loss) income attributable to VIE subordinated note holders (3,518) 429    
Net (loss) income (2,195) 5,852    
Adjustments to reconcile net (loss) income to net cash provided by operating activities:        
Net realized gain – trading securities (142) (155)    
Net realized loss - loans (952) 0    
Increase/(decrease) in other liabilities and accrued expenses 14,156 (88)    
Change in unrealized appreciation – trading securities (516) (558)    
Change in unrealized (appreciation) depreciation – derivatives 249 (1,640)    
Income from investments in partially-owned entities, net (344) (89)    
Deferred tax expense 343 1,251    
Increase in other assets (914) (1,049)    
Non cash incentive fee 16 0    
Non cash compensation expense 53 92    
Non cash interest from investments in loans (99) (38)    
Accretion of discounts and depreciation expense 1,498 1,857    
Amortization and write off of deferred financing costs 60 13    
Accretion of mortgage note discount (73) 5    
(Decrease)/increase in policy liabilities (2,946) 2,475    
Operating activities from VIEs 35,195 1,293    
Net cash provided by operating activities 44,092 10,861    
Cash flows from investing activities:        
Purchases of subsidiaries (524) (9,833)    
Purchases of trading securities and loans carried at fair value (52,372) (24,668)    
Purchases of available for sale securities (2,429) 0    
Purchases of real estate (313) (97)    
Purchases of loans (2,700) (17,258)    
Purchases of fixed assets (2) (2)    
Increase in restricted cash (9,834) (215)    
Acquisitions, net cash 7,213 (2,114)    
Proceeds from mortgages held for sale 5,606 0    
Proceeds from loan repayments 303 277    
Proceeds from sales of trading securities 35,064 20,508    
Proceeds from loans receivable 0 (1,224)    
Proceeds from foreign exchange 0 45    
Proceeds from sales of available for sale securities 2,601 2,590    
Proceeds from maturities of available for sale securities 0 12    
Proceeds from distributions paid by partially owned entities 278 0    
Increase in policy loans 2,807 (2,461)    
Change due to consolidation of trusts (34) 0    
Investing activities from VIEs 15,384 (347,196)    
Net cash provided by /(used in) investing activities 1,048 (381,636)    
Cash flows from financing activities:        
Capital distributions paid by subsidiaries     0 (810)
Principal payments under mortgage notes payable     (422) (371)
Partial paydown of borrowings     (7,160) (1,250)
Repurchase of common stock of subsidiary     0 (2)
Payment of placement costs     (200) (38)
Proceeds from issuance of common units of subsidiaries     400 0
Proceeds from borrowings     6,598 0
Financing activities from VIEs     (40,089) 345,938
Net cash (used in)/provided by financing activities     (40,873) 343,467
Net increase/(decrease) in cash     4,267 (27,308)
Cash and cash equivalents – unrestricted – beginning of period 120,557 88,563 88,563  
Cash and cash equivalents – unrestricted – end of period 124,824 61,255 120,557 88,563
Supplemental disclosure of cash flow information:        
Cash paid for interest     10,295 8,128
Cash paid for taxes     782 0
Non-cash investing and financing activities:        
Capital change due to equity compensation     53 21
Net assets related to acquisitions     (3,275) 0
Non-cash financing costs $ 0 $ 2,500