XML 15 R4.htm IDEA: XBRL DOCUMENT v3.21.1
Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Revenues:    
Interest income from loans $ 190,575 $ 217,427
Interest income from investment securities 11,610 15,240
Servicing fees 8,402 4,793
Rental income 76,338 74,146
Other revenues 305 954
Total revenues 287,230 312,560
Costs and expenses:    
Management fees 38,736 40,728
Interest expense 103,374 120,025
General and administrative 38,636 38,702
Acquisition and investment pursuit costs 185 909
Costs of rental operations 28,745 28,214
Depreciation and amortization 22,474 23,980
Credit loss provision, net 44 48,669
Other expense 685 388
Total costs and expenses 232,879 301,615
Other income (loss):    
Change in net assets related to consolidated VIEs 39,745 (45,493)
Change in fair value of servicing rights (796) (393)
Change in fair value of investment securities, net (306) 2,504
Change in fair value of mortgage loans, net (9,478) (16,134)
Earnings from unconsolidated entities 1,734 97
Gain on sale of investments and other assets, net 17,693 296
Gain on derivative financial instruments 33,989 9,710
Foreign currency loss, net (11,681) (34,486)
Loss on extinguishment of debt (516) (170)
Other income, net 21 126
Total other income (loss) 70,405 (83,943)
Income (loss) before income taxes 124,756 (72,998)
Income tax (provision) benefit (2,230) 6,729
Net income (loss) 122,526 (66,269)
Net income attributable to non-controlling interests (11,148) (500)
Net income (loss) attributable to Starwood Property Trust, Inc. $ 111,378 $ (66,769)
Earnings (loss) per share data attributable to Starwood Property Trust, Inc.:    
Basic (in dollars per share) $ 0.39 $ (0.24)
Diluted (in dollars per share) $ 0.38 $ (0.24)