XML 68 R50.htm IDEA: XBRL DOCUMENT v3.8.0.1
QUARTERLY FINANCIAL DATA (UNAUDITED) (Tables)
12 Months Ended
Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]  
Schedule of quarterly consolidated financial data
The following summarizes the consolidated quarterly financial information for the Company ($ in thousands except per share and dividend amounts):
 
 
Q4 2017
 
Q3 2017
 
Q2 2017
 
Q1 2017(1)
 
 
(as adjusted for the impact of change in accounting principle)
 
 
 
 
 
 
 
 
 
Interest income
 
$
73,352

 
$
66,833

 
$
65,970

 
$
57,512

Net interest income after provision for loan losses
 
31,795

 
29,348

 
30,309

 
26,097

Other income (loss)
 
69,436

 
39,141

 
47,475

 
30,418

Costs and expenses
 
52,804

 
39,244

 
40,120

 
38,260

Income (loss) before taxes
 
48,427

 
29,245

 
37,664

 
18,255

Income tax expense (benefit)
 
3,057

 
(576
)
 
6,606

 
(1,375
)
Net income (loss)
 
45,370

 
29,821

 
31,058

 
19,630

Net (income) loss attributable to noncontrolling interest in consolidated joint ventures
 
(92
)
 
265

 
(77
)
 
(322
)
Net (income) loss attributable to noncontrolling interest in operating partnership
 
(9,172
)
 
(6,499
)
 
(8,868
)
 
(5,838
)
Net income (loss) attributable to Class A common shareholders
 
$
36,106

 
$
23,587

 
$
22,113

 
$
13,470

 
 
 
 
 
 
 
 
 
Earnings per share:
 
 
 
 
 
 
 
 
Basic
 
$
0.41

 
$
0.28

 
$
0.28

 
$
0.18

Diluted
 
$
0.40

 
$
0.28

 
$
0.26

 
$
0.18

 
 
 
 
 
 
 
 
 
Dividends per share of common stock
 
$
0.315

 
$
0.300

 
$
0.300

 
$
0.300


 
 
Q4 2016(2)
 
Q3 2016
 
Q2 2016
 
Q1 2016(2)
 
 
(as historically reported - no adjustments)
 
 
 
 
 
 
 
 
 
Interest income
 
$
60,721

 
$
60,284

 
$
55,766

 
$
59,601

Net interest income after provision for loan losses
 
28,517

 
29,599

 
27,214

 
29,915

Other income (loss)
 
89,212

 
69,335

 
11,835

 
(7,070
)
Costs and expenses
 
45,335

 
40,615

 
37,405

 
35,162

Income (loss) before taxes
 
72,394

 
58,319

 
1,644

 
(12,317
)
Income tax expense (benefit)
 
773

 
8,721

 
(2,301
)
 
(873
)
Net income (loss)
 
71,621

 
49,598

 
3,945

 
(11,444
)
Net (income) loss attributable to noncontrolling interest in consolidated joint ventures
 
(298
)
 
439

 
(235
)
 
232

Net (income) loss attributable to predecessor unitholders
 

 

 

 

Net (income) loss attributable to noncontrolling interest in operating partnership
 
(29,467
)
 
(22,429
)
 
(908
)
 
5,673

Net income (loss) attributable to Class A common shareholders
 
$
41,856

 
$
27,608

 
$
2,802

 
$
(5,539
)
 
 
 
 
 
 
 
 
 
Earnings per share:
 
 
 
 
 
 
 
 
Basic
 
$
0.64

 
$
0.44

 
$
0.05

 
$
(0.09
)
Diluted
 
$
0.63

 
$
0.44

 
$
0.05

 
$
(0.09
)
 
 
 
 
 
 
 
 
 
Dividends per share of common stock
 
$
0.460

 
$
0.275

 
$
0.275

 
$
0.275

 
(1)
See Note 2. Significant Accounting Policies, “Out-of-Period Adjustments” for out-of-period adjustments included in the three month periods ended March 31, 2017.
(2)
See Note 2. Significant Accounting Policies, “Out-of-Period Adjustments” for out-of-period adjustments included in the three month periods ended March 31, 2016 and December 31, 2016.
 
 
 
 
 
 
Q3 2017
 
Q2 2017
 
 
 
 
 
 
(as historically reported)
 
 
 
 
 
 
 
 
 
Interest income
 
 
 
 
 
$
72,763

 
$
66,136

Net interest income after provision for loan losses
 
 
 
 
 
30,156

 
30,532

Other income (loss)
 
 
 
 
 
39,141

 
21,571

Costs and expenses
 
 
 
 
 
39,244

 
40,120

Income (loss) before taxes
 
 
 
 
 
30,053

 
11,983

Income tax expense (benefit)
 
 
 
 
 
(400
)
 
(1,449
)
Net income (loss)
 
 
 
 
 
30,453

 
13,432

Net (income) loss attributable to noncontrolling interest in consolidated joint ventures
 
 
 
 
 
265

 
(77
)
Net (income) loss attributable to noncontrolling interest in operating partnership
 
 
 
 
 
(6,679
)
 
(2,693
)
Net income (loss) attributable to Class A common shareholders
 
 
 
 
 
$
24,039

 
$
10,662

 
 
 
 
 
 
 
 
 
Earnings per share:
 
 
 
 
 
 
 
 
Basic
 
 
 
 
 
$
0.28

 
$
0.13

Diluted
 
 
 
 
 
$
0.28

 
$
0.13

 
 
 
 
 
 
 
 
 
Dividends per share of common stock
 
 
 
 
 
$
0.300

 
$
0.300