XML 18 R4.htm IDEA: XBRL DOCUMENT v3.22.0.1
Consolidated Statements of Operations - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Revenue      
Interest and related income $ 415,263 $ 445,940 $ 389,361
Less: interest and related expense 196,232 172,232 139,747
Net interest income 219,031 273,708 249,614
Revenue from real estate owned 27,984    
Total revenue 247,015 273,708 249,614
Expenses      
Management fees - affiliate 39,135 38,960 32,611
Incentive fees - affiliate   7,766 10,219
Equity compensation 8,812 5,670 29,489
General and administrative expenses 12,591 9,004 3,392
Expenses from real estate owned 32,194    
Total expenses 92,732 61,400 75,711
Equity in income from investment in CMTG/CN Mortgage REIT LLC     40
Realized gain (loss) on sale of investments (141) (640) 103
Gain on foreclosure of real estate owned 1,430    
Other income 5,855    
(Provision for) reversal of current expected credit loss 8,962 (6,000)  
Net income 170,389 205,668 174,046
Net (loss) income attributable to non-controlling interests (164) 3,259 5,289
Net income attributable to preferred stock 16 31 31
Net income attributable to common stock and redeemable common stock $ 170,537 $ 202,378 $ 168,726
Net income per share of common stock and redeemable common stock      
Basic $ 1.27 $ 1.52 $ 1.51
Diluted $ 1.27 $ 1.52 $ 1.51
Weighted-average shares of common stock and redeemable common stock outstanding      
Basic [1] 134,539,645 132,980,316 111,462,928
Diluted [1] 134,539,645 132,980,316 111,462,928
[1] Amounts at December 31, 2020 and 2019 include fully vested RSUs, which includes 877,498 common stock underlying vested RSUs