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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Net interest income        
Interest income $ 36,391 $ 46,991 $ 122,003 $ 127,473
Interest expense (13,426) (23,167) (50,915) (63,505)
Interest income on mortgage loans held in securitization trusts 20,462 22,586 61,556 99,718
Interest expense on mortgage obligations issued by securitization trusts (18,204) (20,299) (54,627) (91,690)
Net interest income 25,223 26,111 78,017 71,996
Property and other income        
Property operating income 41,678 63,492 137,913 191,393
Other income (loss) 30 820 1,079 1,431
Total property and other income 41,708 64,312 138,992 192,824
Expenses        
Management fee expense 7,083 11,355 22,235 34,070
Property operating expense 15,277 29,756 54,119 86,076
Transaction, investment and servicing expense 1,627 1,433 7,668 3,013
Interest expense on real estate 12,205 14,281 37,101 41,786
Depreciation and amortization 14,770 25,934 46,766 82,853
Provision for loan losses 10,404 110,314 80,285 220,572
Impairment of operating real estate 3,451 272,722 33,512 282,846
Administrative expense (including $1,376, $2,910, $3,267 and $7,466 of equity-based compensation expense, respectively) 5,780 7,732 19,569 22,395
Total expenses 70,597 473,527 301,255 773,611
Other income (loss)        
Unrealized (gain) loss on mortgage loans and obligations held in securitization trusts, net (13,162) (1,976) (41,589) 4,602
Realized gain on mortgage loans and obligations held in securitization trusts, net 0 2,724 0 2,772
Other gain (loss), net 9,680 (2,688) (130,115) (13,829)
Loss before equity in earnings of unconsolidated ventures and income taxes (7,148) (385,044) (255,950) (515,246)
Equity in earnings (loss) of unconsolidated ventures (1,779) (15,905) (69,889) 17,962
Income tax benefit (expense) 15,357 (1,046) 11,544 (544)
Net income (loss) 6,430 (401,995) (314,295) (497,828)
Net (income) loss attributable to noncontrolling interests:        
Investment entities (1,222) 37,445 6,362 38,623
Operating Partnership (201) 8,519 7,109 10,741
Net income (loss) attributable to Colony Credit Real Estate, Inc. common stockholders $ 5,007 $ (356,031) $ (300,824) $ (448,464)
Net income (loss) per common share - basic and diluted (Note 18) (in dollars per share) $ 0.04 $ (2.77) $ (2.34) $ (3.51)
Weighted average shares of common stock outstanding - basic and diluted (Note 18) (in shares) 128,583 128,541 128,537 128,341