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CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($)
$ in Thousands
Total Ready Capital Corporation Equity
Cumulative Effect, Period of Adoption, Adjustment
Total Ready Capital Corporation Equity
Preferred stock
Series B Preferred Stock
Preferred stock
Series D Preferred Stock
Preferred stock
Series E Preferred Stock
Common Stock
Additional Paid-in-Capital
Retained Earnings (Deficit)
Cumulative Effect, Period of Adoption, Adjustment
Retained Earnings (Deficit)
Accumulated Other Comprehensive Loss
Noncontrolling Interests
Cumulative Effect, Period of Adoption, Adjustment
Noncontrolling Interests
Cumulative Effect, Period of Adoption, Adjustment
Total
Balance at beginning of period at Dec. 31, 2018   $ 544,831       $ 3 $ 540,478   $ 5,272 $ (922)   $ 19,244   $ 564,075
Balance at beginning of period (in shares) at Dec. 31, 2018           32,105,112                
Increase (Decrease) in Stockholders' Equity                            
Dividend declared on common stock | ASU 2016-13 $ (6,599)             $ (6,599)     $ (155)   $ (6,754)  
Dividend declared on common stock   (69,494)             (69,494)         (69,494)
Dividend declared on OP units                       (1,788)   (1,788)
Shares issued pursuant to merger transactions   189,611       $ 1 189,610             189,611
Shares issued pursuant merger to merger transactions (shares)           12,882,323                
Equity issuances   91,800       $ 1 91,799             91,800
Shares issued           6,000,000                
Offering costs   (408)         (408)         (2)   (410)
Contributions, net                       20   20
Equity component of 2017 convertible note issuance   (351)         (351)         (9)   (360)
Stock-based compensation   1,476         1,476             1,476
Stock-based compensation (shares)           124,952                
Manager incentive fee paid in stock   233         233             233
Manager incentive fee paid in stock (shares)           14,939                
Net income   72,968             72,968     2,088   75,056
Other comprehensive income (loss)   (5,254)               (5,254)   (181)   (5,435)
Balance at end of period at Dec. 31, 2019   825,412       $ 5 822,837   8,746 (6,176)   19,372   844,784
Balance at end of period (in shares) at Dec. 31, 2019           51,127,326                
Increase (Decrease) in Stockholders' Equity                            
Dividend declared on common stock   (71,220)             (71,220)         (71,220)
Dividend declared on OP units                       (1,504)   (1,504)
Stock issued in connection with stock dividend   17,033         17,033         362   17,395
Stock issued in connection with stock dividend (shares)           2,764,487                
Equity issuances   13,410         13,410             13,410
Shares issued           900,000                
Offering costs   (49)         (49)         (1)   (50)
Distributions, net                       (250)   (250)
Equity component of 2017 convertible note issuance   (379)         (379)         (8)   (387)
Stock-based compensation   5,399         5,399             5,399
Stock-based compensation (shares)           357,945                
Manager incentive fee paid in stock   1,806         1,806             1,806
Manager incentive fee paid in stock (shares)           212,844                
Share repurchases   (10,516)         (10,516)             (10,516)
Share repurchases (shares)           (993,603)                
Sale of subsidiary interest to non-controlling interest                       (122)   (122)
Net income   44,870             44,870     1,199   46,069
Other comprehensive income (loss)   (3,771)               (3,771)   (81)   (3,852)
Balance at end of period at Dec. 31, 2020   815,396       $ 5 849,541   (24,203) (9,947)   18,812   834,208
Balance at end of period (in shares) at Dec. 31, 2020           54,368,999                
Increase (Decrease) in Stockholders' Equity                            
Dividend declared on common stock   (117,440)             (117,440)         (117,440)
Dividend declared on OP units                       (1,581)   (1,581)
Dividend declared - $1.088125 per Series B preferred share   (1,162)             (1,162)     (1)   (1,163)
Dividend declared - $1.562505 per Series C preferred share   (492)             (492)         (492)
Dividend declared - $0.953125 per Series D preferred share   (1,074)             (1,074)     (1)   (1,075)
Dividend declared - $1.03846 per Series E preferred share   (4,775)             (4,775)         (4,775)
Shares issued pursuant to merger transactions   337,778 $ 47,984 $ 50,257   $ 2 239,535             337,778
Shares issued pursuant merger to merger transactions (shares)     1,919,378 2,010,278   16,774,337                
Equity issuances   166,687     $ 111,378 $ 1 55,308             166,687
Shares issued         4,600,000 3,527,935                
Equity redemptions   (98,241) $ (47,984) $ (50,257)                   (98,241)
Equity redemptions (shares)     (1,919,378) (2,010,278)                    
Offering costs   (1,621)         (1,621)         (16)   (1,637)
Distributions, net                       (226)   (226)
Equity component of 2017 convertible note issuance   (410)         (410)         (7)   (417)
Stock-based compensation   4,419         4,419             4,419
Stock-based compensation (shares)           288,436                
Conversion of OP units into common stock   13,207         13,207         (13,207)   13,207
Conversion of OP units into common stock (shares)           882,202                
Manager incentive fee paid in stock   1,386         1,386             1,386
Manager incentive fee paid in stock (shares)           84,758                
Share repurchases   (1,293)         (1,293)             (1,293)
Share repurchases (shares)           (88,617)                
Reallocation of noncontrolling interest   1,592         1,781     (189)   (1,592)    
Net income   157,744             157,744     2,230   159,974
Other comprehensive income (loss)   4,403               4,403   83   4,486
Balance at end of period at Dec. 31, 2021   $ 1,276,104     $ 111,378 $ 8 $ 1,161,853   $ 8,598 $ (5,733)   $ 4,494   $ 1,280,598
Balance at end of period (in shares) at Dec. 31, 2021         4,600,000 75,838,050