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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities    
Net income $ 38,633 $ 42,313
Adjustments to reconcile net income to net cash provided by operating activities:    
Accretion of deferred origination and amendment fees (13,823) (10,909)
Depreciation and amortization 431 (785)
Amortization of right of use assets 189 221
Amortization of financing costs 567  
Stock-based compensation expense for restricted stock units 1,661 1,881
Provision for credit losses, net 2,766 8,656
Change in fair value of warrant liabilities 3,734 (3,146)
Changes in operating assets and liabilities:    
Interest and fees receivable, net 2,128 (4,878)
Other assets 933 (1,606)
Accounts payable and accrued liabilities (1,826) (554)
Lease liabilities (86) (221)
Net cash provided by operating activities 35,307 30,972
Cash flows from investing activities:    
Purchases of property and equipment (249)  
Proceeds from sale of real property 878 2,213
Improvements to investments in real property (1,711) (66)
Change in mortgage notes receivable, net (33,968) 10,037
Net cash provided by (used in) investing activities (35,050) 12,184
Cash flows from financing activities:    
Dividends paid (54,349) (63,401)
Payment of costs to obtain credit facility (5,125)  
Payment of taxes on vested restricted stock units (135)  
Net cash provided by (used in) financing activities (59,609) (63,401)
Net increase (decrease) in cash and cash equivalents (59,352) (20,245)
Cash and cash equivalents, beginning of period 223,375 238,214
Cash and cash equivalents, end of period 164,023 217,969
Supplemental disclosure of non-cash investing and financing activities    
Dividends payable 9,284 7,934
Measurement period adjustment to goodwill and intangible assets   $ 5,000
Mortgage notes receivable converted to real property owned 32,419  
Operating lease right-of-use assets 6,360  
Lease liabilities arising from obtaining right-of-use assets 8,319  
Property and equipment purchased through tenant improvement allowance $ 1,959