Acquisitions (Tables) - Woodstar Portfolio, Ireland Portfolio and REIS Portfolio

6 Months Ended

Jun. 30, 2016

Summary of assets acquired and liabilities assumed

The following table summarizes the identified assets acquired and liabilities assumed at the respective acquisition dates (amounts in thousands):

	2016				2015
	Woodstar		REO		Woodstar		REO		Ireland
Assets acquired:	Portfolio		Portfolio		Portfolio		Portfolio		Portfolio
Cash and cash equivalents	$	6,254	$	—	$	—	$	—	$	—
Restricted cash		—		—		—		—		10,829
Properties		245,430		68,096		339,040		128,218		445,369
Intangible assets		8,174		25,387		11,337		19,381		59,529
Other assets		16,417		2,858		652		4,973		2,508
Total assets acquired		276,275		96,341		351,029		152,572		518,235
Liabilities assumed:
Accounts payable, accrued expenses and other liabilities		19,666		3,063		18,030		6,998		17,552
Secured financing agreements		150,763		—		8,982		—		283,010
Total liabilities assumed		170,429		3,063		27,012		6,998		300,562
Non-controlling interests		—		5,492		—		6,904		—
Net assets acquired	$	105,846	$	87,786	$	324,017	$	138,670	$	217,673

Schedule of unaudited pro forma revenue and net income

The pro-forma revenues and net income attributable to the Company for the three and six months ended June 30, 2016 and 2015, assuming all the properties acquired within the Woodstar Portfolio, REO Portfolio and the Ireland Portfolio were acquired on January 1, 2014 for the 2015 acquisitions and January 1, 2015 for the 2016 acquisitions, are as follows (amounts in thousands, except per share amounts):

	For the Three Months Ended				For the Six Months Ended
	June 30,				June 30,
	2016		2015		2016		2015
Revenues	$	202,304	$	212,251	$	405,577	$	428,261
Net income attributable to STWD		102,983		115,354		131,819		237,563
Net income per share - Basic		0.43		0.49		0.55		1.03
Net income per share - Diluted		0.43		0.48		0.55		1.02

Schedule of adjustments related to pro forma revenue and net income

Pro-forma net income was adjusted to include the following estimated incremental management fees the combined entity would have incurred (amounts in thousands):

	For the Three Months Ended				For the Six Months Ended
	June 30,				June 30,
	2016		2015		2016		2015
Management fee expense addition	$	175	$	1,966	$	663	$	4,335