XML 18 R7.htm IDEA: XBRL DOCUMENT v3.24.2.u1
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($)
$ in Thousands
Total Ready Capital Corporation Equity
Preferred stock
Series E Preferred Stock
Common Stock
Additional Paid-in-Capital
Retained Earnings (Deficit)
Accumulated Other Comprehensive Loss
Noncontrolling Interests
Total
Balance at beginning of period at Dec. 31, 2022 $ 1,791,088 $ 111,378 $ 11 $ 1,684,074 $ 4,994 $ (9,369) $ 99,146 $ 1,890,234
Balance at beginning of period (in shares) at Dec. 31, 2022   4,600,000 110,523,641          
Increase (Decrease) in Stockholders' Equity                
Dividend declared on common stock (97,882)       (97,882)     (97,882)
Dividend declared on OP units             (1,255) (1,255)
Dividend declared on Series C preferred shares (262)       (262)     (262)
Dividend declared on Series D preferred shares (3,737)       (3,737)     (3,737)
Shares issued pursuant to merger transactions 637,229   $ 6 637,223       637,229
Shares issued pursuant merger to merger transactions (shares)     62,229,429          
Equity issuances 125     125       125
Offering costs (127)     (127)     (2) (129)
Contributions (distributions), net             (100) (100)
Equity component of 2017 convertible note issuance (191)     (191)     (3) (194)
Stock-based compensation 8,636     8,636       8,636
Stock-based compensation (shares)     689,787          
Conversion of OP units into common stock 567     567     (567)  
Conversion of OP units into common stock (shares)     52,742          
Share repurchases (20,094)     (20,094)       (20,094)
Share repurchases (shares)     (1,843,675)          
Reallocation of noncontrolling interest 3,581     3,636   (55) (3,581)  
Net income (loss) 284,026       284,026   6,325 290,351
Other comprehensive income 143         143 (3) 140
Balance at end of period at Jun. 30, 2023 2,603,102 $ 111,378 $ 17 2,313,849 187,139 (9,281) 99,960 2,703,062
Balance at end of period (in shares) at Jun. 30, 2023   4,600,000 171,651,924          
Balance at beginning of period at Mar. 31, 2023 1,780,135 $ 111,378 $ 11 1,687,631 (6,532) (12,353) 100,197 1,880,332
Balance at beginning of period (in shares) at Mar. 31, 2023   4,600,000 110,745,658          
Increase (Decrease) in Stockholders' Equity                
Dividend declared on common stock (53,212)       (53,212)     (53,212)
Dividend declared on OP units             (617) (617)
Dividend declared on Series C preferred shares (131)       (131)     (131)
Dividend declared on Series E preferred shares (1,869)       (1,869)     (1,869)
Shares issued pursuant to merger transactions 637,229   $ 6 637,223       637,229
Shares issued pursuant merger to merger transactions (shares)     62,229,429          
Offering costs (108)     (108)     (2) (110)
Equity component of 2017 convertible note issuance (76)     (76)     (1) (77)
Stock-based compensation 3,689     3,689       3,689
Stock-based compensation (shares)     356,317          
Conversion of OP units into common stock 567     567     (567)  
Conversion of OP units into common stock (shares)     52,742          
Share repurchases (18,712)     (18,712)       (18,712)
Share repurchases (shares)     (1,732,222)          
Reallocation of noncontrolling interest 3,578     3,635   (57) (3,578)  
Net income (loss) 248,883       248,883   4,490 253,373
Other comprehensive income 3,129         3,129 38 3,167
Balance at end of period at Jun. 30, 2023 2,603,102 $ 111,378 $ 17 2,313,849 187,139 (9,281) 99,960 2,703,062
Balance at end of period (in shares) at Jun. 30, 2023   4,600,000 171,651,924          
Balance at beginning of period at Dec. 31, 2023 2,539,937 $ 111,378 $ 17 2,321,989 124,413 (17,860) 98,464 2,638,401
Balance at beginning of period (in shares) at Dec. 31, 2023   4,600,000 172,276,105          
Increase (Decrease) in Stockholders' Equity                
Dividend declared on common stock (102,429)       (102,429)     (102,429)
Dividend declared on OP units             (740) (740)
Dividend declared on Series C preferred shares (262)       (262)     (262)
Dividend declared on Series E preferred shares (3,736)       (3,736)     (3,736)
Contributions (distributions), net (18)     (18)     600 582
Stockholders' Equity, Contributions (Distributions), Net, Shares     (1,981)          
Stock-based compensation 4,606     4,606       4,606
Stock-based compensation (shares)     386,072          
Conversion of OP units into common stock 983     983     (983)  
Conversion of OP units into common stock (shares)     105,000          
Share repurchases (40,271)     (40,271)       (40,271)
Share repurchases (shares)     (4,597,924)          
Reallocation of noncontrolling interest 320     395   (75) (320)  
Net income (loss) (110,305)       (110,305)   1,937 (108,368)
Other comprehensive income 4,055         4,055 27 4,082
Balance at end of period at Jun. 30, 2024 2,292,880 $ 111,378 $ 17 2,287,684 (92,319) (13,880) 98,985 2,391,865
Balance at end of period (in shares) at Jun. 30, 2024   4,600,000 168,167,272          
Balance at beginning of period at Mar. 31, 2024 2,402,817 $ 111,378 $ 17 2,307,303 (3,546) (12,335) 97,065 2,499,882
Balance at beginning of period (in shares) at Mar. 31, 2024   4,600,000 170,445,333          
Increase (Decrease) in Stockholders' Equity                
Dividend declared on common stock (50,753)       (50,753)     (50,753)
Dividend declared on OP units             (368) (368)
Dividend declared on Series C preferred shares (131)       (131)     (131)
Dividend declared on Series E preferred shares (1,868)       (1,868)     (1,868)
Contributions (distributions), net             600 600
Stock-based compensation 496     496       496
Stock-based compensation (shares)     60,154          
Conversion of OP units into common stock 126     126     (126)  
Conversion of OP units into common stock (shares)     15,000          
Share repurchases (20,236)     (20,236)       (20,236)
Share repurchases (shares)     (2,353,215)          
Reallocation of noncontrolling interest (8)     (5)   (3) 8  
Net income (loss) (36,021)       (36,021)   1,820 (34,201)
Other comprehensive income (1,542)         (1,542) (14) (1,556)
Balance at end of period at Jun. 30, 2024 $ 2,292,880 $ 111,378 $ 17 $ 2,287,684 $ (92,319) $ (13,880) $ 98,985 $ 2,391,865
Balance at end of period (in shares) at Jun. 30, 2024   4,600,000 168,167,272