XML 123 R113.htm IDEA: XBRL DOCUMENT v3.23.3
Segment Data - Balance Sheet (Details) - USD ($)
$ in Thousands
Sep. 30, 2023
Jun. 30, 2023
Dec. 31, 2022
Sep. 30, 2022
Jun. 30, 2022
Dec. 31, 2021
Assets:            
Cash and cash equivalents $ 195,319   $ 261,061      
Restricted cash 235,951   121,072      
Loans held-for-investment, net 17,234,205   18,401,439      
Loans held-for-sale 2,602,265   2,784,594      
Investment securities 721,593   815,804      
Properties, net 1,405,791   1,449,986      
Investments in unconsolidated entities 91,924   91,892      
Goodwill 259,846   259,846      
Intangible assets 65,989   68,773      
Derivative assets 133,016   108,621      
Accrued interest receivable 173,260   168,521      
Other assets 526,442   297,477      
VIE assets, at fair value 44,668,904   52,453,041      
Total Assets 70,293,689   79,043,129      
Liabilities:            
Dividends payable 152,737   151,511      
Derivative liabilities 85,657   91,404      
Secured financing agreements, net 13,557,881   14,501,532      
Collateralized loan obligations and single asset securitization, net 3,518,274   3,676,224      
Unsecured senior notes, net 2,456,583   2,329,211      
VIE liabilities, at fair value 42,997,104   50,754,355      
Total Liabilities 63,200,233   71,844,422      
Temporary Equity: Redeemable non-controlling interests 409,659   362,790      
Starwood Property Trust, Inc. Stockholders’ Equity:            
Common stock 3,205   3,181      
Additional paid-in capital 5,855,962   5,807,087      
Treasury stock (138,022)   (138,022)      
Retained earnings (accumulated deficit) 585,756   769,237      
Accumulated other comprehensive income 14,114   20,955      
Total Starwood Property Trust, Inc. Stockholders’ Equity 6,321,015   6,462,438      
Non-controlling interests in consolidated subsidiaries 362,782   373,479      
Total Permanent Equity 6,683,797 $ 6,784,943 6,835,917 $ 6,821,185 $ 6,774,387 $ 6,433,892
Total Liabilities and Equity 70,293,689   79,043,129      
Nonrelated Party            
Liabilities:            
Accounts payable, accrued expenses and other liabilities 407,715   298,999      
Related Party            
Liabilities:            
Accounts payable, accrued expenses and other liabilities 24,282   41,186      
Primary Beneficiary            
Assets:            
Investments of consolidated affordable housing fund 1,979,184   1,761,002      
Total Assets 74,800          
Liabilities:            
Total Liabilities 34,800          
Infrastructure Lending Segment            
Assets:            
Goodwill 119,400   119,400      
Investing and Servicing Segment            
Assets:            
Goodwill 140,400   140,400      
Subtotal            
Assets:            
Cash and cash equivalents 195,319   261,061      
Restricted cash 235,951   121,072      
Loans held-for-investment, net 17,234,205   18,401,439      
Loans held-for-sale 2,602,265   2,784,594      
Investment securities 2,363,380   2,482,725      
Properties, net 1,405,791   1,449,986      
Investments in unconsolidated entities 106,481   105,434      
Goodwill 259,846   259,846      
Intangible assets 101,963   107,831      
Derivative assets 133,016   108,621      
Accrued interest receivable 173,545   168,796      
Other assets 526,442   297,477      
VIE assets, at fair value 0   0      
Total Assets 27,317,388   28,309,884      
Liabilities:            
Dividends payable 152,737   151,511      
Derivative liabilities 85,657   91,404      
Secured financing agreements, net 13,578,739   14,522,698      
Collateralized loan obligations and single asset securitization, net 3,518,274   3,676,224      
Unsecured senior notes, net 2,456,583   2,329,211      
VIE liabilities, at fair value 0   0      
Total Liabilities 20,223,987   21,111,233      
Temporary Equity: Redeemable non-controlling interests 409,659   362,790      
Starwood Property Trust, Inc. Stockholders’ Equity:            
Common stock 3,205   3,181      
Additional paid-in capital 5,855,962   5,807,087      
Treasury stock (138,022)   (138,022)      
Retained earnings (accumulated deficit) 585,756   769,237      
Accumulated other comprehensive income 14,114   20,955      
Total Starwood Property Trust, Inc. Stockholders’ Equity 6,321,015   6,462,438      
Non-controlling interests in consolidated subsidiaries 362,727   373,423      
Total Permanent Equity 6,683,742   6,835,861      
Total Liabilities and Equity 27,317,388   28,309,884      
Subtotal | Nonrelated Party            
Liabilities:            
Accounts payable, accrued expenses and other liabilities 407,715   298,999      
Subtotal | Related Party            
Liabilities:            
Accounts payable, accrued expenses and other liabilities 24,282   41,186      
Subtotal | Primary Beneficiary            
Assets:            
Investments of consolidated affordable housing fund 1,979,184   1,761,002      
Operating segment | Commercial and Residential Lending Segment            
Assets:            
Cash and cash equivalents 7,078   68,593      
Restricted cash 29,474   18,556      
Loans held-for-investment, net 14,950,568   16,038,930      
Loans held-for-sale 2,499,681   2,763,458      
Investment securities 1,237,362   1,250,893      
Properties, net 469,343   463,492      
Investments in unconsolidated entities 25,207   25,326      
Goodwill 0   0      
Intangible assets 14,153   11,908      
Derivative assets 123,662   101,082      
Accrued interest receivable 160,815   151,852      
Other assets 394,099   170,177      
VIE assets, at fair value 0   0      
Total Assets 19,911,442   21,064,267      
Liabilities:            
Dividends payable 0   0      
Derivative liabilities 15,901   21,523      
Secured financing agreements, net 9,974,212   10,804,970      
Collateralized loan obligations and single asset securitization, net 2,702,506   2,862,211      
Unsecured senior notes, net 0   0      
VIE liabilities, at fair value 0   0      
Total Liabilities 12,958,650   13,835,601      
Temporary Equity: Redeemable non-controlling interests 0   0      
Starwood Property Trust, Inc. Stockholders’ Equity:            
Common stock 0   0      
Additional paid-in capital 1,522,081   2,124,496      
Treasury stock 0   0      
Retained earnings (accumulated deficit) 5,416,479   5,083,100      
Accumulated other comprehensive income 14,114   20,955      
Total Starwood Property Trust, Inc. Stockholders’ Equity 6,952,674   7,228,551      
Non-controlling interests in consolidated subsidiaries 118   115      
Total Permanent Equity 6,952,792   7,228,666      
Total Liabilities and Equity 19,911,442   21,064,267      
Operating segment | Commercial and Residential Lending Segment | Nonrelated Party            
Liabilities:            
Accounts payable, accrued expenses and other liabilities 266,031   146,897      
Operating segment | Commercial and Residential Lending Segment | Related Party            
Liabilities:            
Accounts payable, accrued expenses and other liabilities 0   0      
Operating segment | Commercial and Residential Lending Segment | Primary Beneficiary            
Assets:            
Investments of consolidated affordable housing fund 0   0      
Operating segment | Infrastructure Lending Segment            
Assets:            
Cash and cash equivalents 35,247   31,153      
Restricted cash 22,178   31,133      
Loans held-for-investment, net 2,274,318   2,352,932      
Loans held-for-sale 0   0      
Investment securities 19,582   66,204      
Properties, net 0   0      
Investments in unconsolidated entities 48,224   47,078      
Goodwill 119,409   119,409      
Intangible assets 0   0      
Derivative assets 134   122      
Accrued interest receivable 9,574   9,856      
Other assets 6,306   3,614      
VIE assets, at fair value 0   0      
Total Assets 2,534,972   2,661,501      
Liabilities:            
Dividends payable 0   0      
Derivative liabilities 0   105      
Secured financing agreements, net 935,043   1,042,679      
Collateralized loan obligations and single asset securitization, net 815,768   814,013      
Unsecured senior notes, net 0   0      
VIE liabilities, at fair value 0   0      
Total Liabilities 1,772,696   1,877,453      
Temporary Equity: Redeemable non-controlling interests 0   0      
Starwood Property Trust, Inc. Stockholders’ Equity:            
Common stock 0   0      
Additional paid-in capital 616,063   683,258      
Treasury stock 0   0      
Retained earnings (accumulated deficit) 146,213   100,790      
Accumulated other comprehensive income 0   0      
Total Starwood Property Trust, Inc. Stockholders’ Equity 762,276   784,048      
Non-controlling interests in consolidated subsidiaries 0   0      
Total Permanent Equity 762,276   784,048      
Total Liabilities and Equity 2,534,972   2,661,501      
Operating segment | Infrastructure Lending Segment | Nonrelated Party            
Liabilities:            
Accounts payable, accrued expenses and other liabilities 21,885   20,656      
Operating segment | Infrastructure Lending Segment | Related Party            
Liabilities:            
Accounts payable, accrued expenses and other liabilities 0   0      
Operating segment | Infrastructure Lending Segment | Primary Beneficiary            
Assets:            
Investments of consolidated affordable housing fund 0   0      
Operating segment | Property Segment            
Assets:            
Cash and cash equivalents 37,281   31,194      
Restricted cash 997   981      
Loans held-for-investment, net 0   0      
Loans held-for-sale 0   0      
Investment securities 0   0      
Properties, net 851,713   864,778      
Investments in unconsolidated entities 0   0      
Goodwill 0   0      
Intangible assets 26,375   29,613      
Derivative assets 2,640   1,803      
Accrued interest receivable 1,298   863      
Other assets 51,914   54,313      
VIE assets, at fair value 0   0      
Total Assets 2,951,402   2,744,547      
Liabilities:            
Dividends payable 0   0      
Derivative liabilities 0   0      
Secured financing agreements, net 791,461   789,719      
Collateralized loan obligations and single asset securitization, net 0   0      
Unsecured senior notes, net 0   0      
VIE liabilities, at fair value 0   0      
Total Liabilities 804,185   801,435      
Temporary Equity: Redeemable non-controlling interests 409,659   362,790      
Starwood Property Trust, Inc. Stockholders’ Equity:            
Common stock 0   0      
Additional paid-in capital (428,536)   (405,955)      
Treasury stock 0   0      
Retained earnings (accumulated deficit) 1,957,453   1,777,643      
Accumulated other comprehensive income 0   0      
Total Starwood Property Trust, Inc. Stockholders’ Equity 1,528,917   1,371,688      
Non-controlling interests in consolidated subsidiaries 208,641   208,634      
Total Permanent Equity 1,737,558   1,580,322      
Total Liabilities and Equity 2,951,402   2,744,547      
Operating segment | Property Segment | Nonrelated Party            
Liabilities:            
Accounts payable, accrued expenses and other liabilities 12,724   11,716      
Operating segment | Property Segment | Related Party            
Liabilities:            
Accounts payable, accrued expenses and other liabilities 0   0      
Operating segment | Property Segment | Primary Beneficiary            
Assets:            
Investments of consolidated affordable housing fund 1,979,184   1,761,002      
Operating segment | Investing and Servicing Segment            
Assets:            
Cash and cash equivalents 9,840   39,023      
Restricted cash 4,746   5,259      
Loans held-for-investment, net 9,319   9,577      
Loans held-for-sale 102,584   21,136      
Investment securities 1,106,436   1,165,628      
Properties, net 84,735   121,716      
Investments in unconsolidated entities 33,050   33,030      
Goodwill 140,437   140,437      
Intangible assets 61,435   66,310      
Derivative assets 6,580   5,614      
Accrued interest receivable 1,770   1,105      
Other assets 19,533   12,929      
VIE assets, at fair value 0   0      
Total Assets 1,580,465   1,621,764      
Liabilities:            
Dividends payable 0   0      
Derivative liabilities 0   0      
Secured financing agreements, net 539,820   543,256      
Collateralized loan obligations and single asset securitization, net 0   0      
Unsecured senior notes, net 0   0      
VIE liabilities, at fair value 0   0      
Total Liabilities 575,818   589,633      
Temporary Equity: Redeemable non-controlling interests 0   0      
Starwood Property Trust, Inc. Stockholders’ Equity:            
Common stock 0   0      
Additional paid-in capital (680,659)   (646,662)      
Treasury stock 0   0      
Retained earnings (accumulated deficit) 1,531,338   1,514,119      
Accumulated other comprehensive income 0   0      
Total Starwood Property Trust, Inc. Stockholders’ Equity 850,679   867,457      
Non-controlling interests in consolidated subsidiaries 153,968   164,674      
Total Permanent Equity 1,004,647   1,032,131      
Total Liabilities and Equity 1,580,465   1,621,764      
Operating segment | Investing and Servicing Segment | Nonrelated Party            
Liabilities:            
Accounts payable, accrued expenses and other liabilities 35,998   46,377      
Operating segment | Investing and Servicing Segment | Related Party            
Liabilities:            
Accounts payable, accrued expenses and other liabilities 0   0      
Operating segment | Investing and Servicing Segment | Primary Beneficiary            
Assets:            
Investments of consolidated affordable housing fund 0   0      
Corporate            
Assets:            
Cash and cash equivalents 105,873   91,098      
Restricted cash 178,556   65,143      
Loans held-for-investment, net 0   0      
Loans held-for-sale 0   0      
Investment securities 0   0      
Properties, net 0   0      
Investments in unconsolidated entities 0   0      
Goodwill 0   0      
Intangible assets 0   0      
Derivative assets 0   0      
Accrued interest receivable 88   5,120      
Other assets 54,590   56,444      
VIE assets, at fair value 0   0      
Total Assets 339,107   217,805      
Liabilities:            
Dividends payable 152,737   151,511      
Derivative liabilities 69,756   69,776      
Secured financing agreements, net 1,338,203   1,342,074      
Collateralized loan obligations and single asset securitization, net 0   0      
Unsecured senior notes, net 2,456,583   2,329,211      
VIE liabilities, at fair value 0   0      
Total Liabilities 4,112,638   4,007,111      
Temporary Equity: Redeemable non-controlling interests 0   0      
Starwood Property Trust, Inc. Stockholders’ Equity:            
Common stock 3,205   3,181      
Additional paid-in capital 4,827,013   4,051,950      
Treasury stock (138,022)   (138,022)      
Retained earnings (accumulated deficit) (8,465,727)   (7,706,415)      
Accumulated other comprehensive income 0   0      
Total Starwood Property Trust, Inc. Stockholders’ Equity (3,773,531)   (3,789,306)      
Non-controlling interests in consolidated subsidiaries 0   0      
Total Permanent Equity (3,773,531)   (3,789,306)      
Total Liabilities and Equity 339,107   217,805      
Corporate | Nonrelated Party            
Liabilities:            
Accounts payable, accrued expenses and other liabilities 71,077   73,353      
Corporate | Related Party            
Liabilities:            
Accounts payable, accrued expenses and other liabilities 24,282   41,186      
Corporate | Primary Beneficiary            
Assets:            
Investments of consolidated affordable housing fund 0   0      
Securitization VIEs            
Assets:            
Cash and cash equivalents 0   0      
Restricted cash 0   0      
Loans held-for-investment, net 0   0      
Loans held-for-sale 0   0      
Investment securities (1,641,787)   (1,666,921)      
Properties, net 0   0      
Investments in unconsolidated entities (14,557)   (13,542)      
Goodwill 0   0      
Intangible assets (35,974)   (39,058)      
Derivative assets 0   0      
Accrued interest receivable (285)   (275)      
Other assets 0   0      
VIE assets, at fair value 44,668,904   52,453,041      
Total Assets 42,976,301   50,733,245      
Liabilities:            
Dividends payable 0   0      
Derivative liabilities 0   0      
Secured financing agreements, net (20,858)   (21,166)      
Collateralized loan obligations and single asset securitization, net 0   0      
Unsecured senior notes, net 0   0      
VIE liabilities, at fair value 42,997,104   50,754,355      
Total Liabilities 42,976,246   50,733,189      
Temporary Equity: Redeemable non-controlling interests 0   0      
Starwood Property Trust, Inc. Stockholders’ Equity:            
Common stock 0   0      
Additional paid-in capital 0   0      
Treasury stock 0   0      
Retained earnings (accumulated deficit) 0   0      
Accumulated other comprehensive income 0   0      
Total Starwood Property Trust, Inc. Stockholders’ Equity 0   0      
Non-controlling interests in consolidated subsidiaries 55   56      
Total Permanent Equity 55   56      
Total Liabilities and Equity 42,976,301   50,733,245      
Securitization VIEs | Nonrelated Party            
Liabilities:            
Accounts payable, accrued expenses and other liabilities 0   0      
Securitization VIEs | Related Party            
Liabilities:            
Accounts payable, accrued expenses and other liabilities 0   0      
Securitization VIEs | Primary Beneficiary            
Assets:            
Investments of consolidated affordable housing fund $ 0   $ 0