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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Net interest income        
Interest income $ 39,508 $ 42,073 $ 85,612 $ 80,482
Interest expense (16,745) (21,046) (37,489) (40,338)
Interest income on mortgage loans held in securitization trusts 20,539 38,656 41,094 77,132
Interest expense on mortgage obligations issued by securitization trusts (18,364) (35,756) (36,423) (71,391)
Net interest income 24,938 23,927 52,794 45,885
Property and other income        
Property operating income 43,722 64,767 96,235 127,901
Other income (loss) (8,360) 434 1,049 611
Total property and other income 35,362 65,201 97,284 128,512
Expenses        
Management fee expense 7,206 11,357 15,152 22,715
Property operating expense 16,311 28,140 38,842 56,320
Transaction, investment and servicing expense 2,907 1,051 6,041 1,580
Interest expense on real estate 11,818 13,898 24,896 27,505
Depreciation and amortization 14,020 29,257 31,996 56,919
Provision for loan losses (51) 110,258 69,881 110,258
Impairment of operating real estate 25,935 10,124 30,061 10,124
Administrative expense (including $1,549, $2,713, $1,891 and $4,556 of equity-based compensation expense, respectively) 6,751 8,010 13,789 14,663
Total expenses 84,897 212,095 230,658 300,084
Other income (loss)        
Unrealized (gain) loss on mortgage loans and obligations held in securitization trusts, net (8,975) 5,549 (28,427) 6,578
Realized gain on mortgage loans and obligations held in securitization trusts, net 0 0 0 48
Other loss, net (119,633) (6,062) (139,795) (11,141)
Loss before equity in earnings of unconsolidated ventures and income taxes (153,205) (123,480) (248,802) (130,202)
Equity in earnings (loss) of unconsolidated ventures (85,277) 12,557 (68,110) 33,867
Income tax benefit (expense) (2,102) 133 (3,813) 502
Net loss (240,584) (110,790) (320,725) (95,833)
Net loss attributable to noncontrolling interests:        
Investment entities 8,107 880 7,584 1,178
Operating Partnership 5,418 2,569 7,310 2,222
Net loss attributable to Colony Credit Real Estate, Inc. common stockholders $ (227,059) $ (107,341) $ (305,831) $ (92,433)
Net loss per common share - basic and diluted (Note 18) (in dollars per share) $ (1.77) $ (0.84) $ (2.38) $ (0.73)
Weighted average shares of common stock outstanding - basic and diluted (Note 18) (in shares) 128,539 128,534 128,513 128,240