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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended 12 Months Ended
Dec. 31, 2021
Jul. 09, 2021
Dec. 31, 2022
Cash Flows From Operating Activities      
Net income (loss) $ (247,084) $ 6,131 $ (511,936)
Adjustments to reconcile net income (loss) to net cash used in operating activities:      
Depreciation and amortization 43,389 1,782 49,394
Goodwill impairment 224,701 0 445,756
Provision for losses 1,217 1,172 51,293
Change in fair value of warrant liabilities (22,583) 5,504 (14,710)
Change in fair value of contract derivatives, net (638) 662 962
Other expense (income) 181 (616) 6,984
Share-based payment arrangements 29,646 18 17,851
Deferred income tax benefit (5,524) 0 (35,823)
Increase (decrease) in operating capital:      
Increase in advances (24,219) (7,314) (21,782)
Decrease (increase) in due from affiliates 1,839 (1,839) 0
Decrease (increase) in other assets (16,367) 2,129 (4,619)
Increase (decrease) in accounts payable and accrued expenses (3,476) 2,327 (4,234)
Increase (decrease) in funding commitments 1,263 3,100 (3,039)
Increase (decrease) in due to affiliates (761) 761 0
Increase (decrease) in other liabilities (149) 539 (1,736)
Net cash provided by (used in) operating activities (18,565) 14,356 (25,639)
Cash Flows From Investing Activities      
Return of investments in loan pool participation and loan principal repayments 710 832 931
Payments to acquire loans and participations in loan pools (716) (1,170) (3,296)
Payments to acquire property and equipment (3,436) (1,066) (2,321)
Payments to acquire Sunlight Financial LLC, net of cash acquired (304,570) 0 0
Net cash used in investing activities (308,012) (1,404) (4,686)
Cash Flows From Financing Activities      
Proceeds from borrowings under line of credit 0 20,746 0
Repayments of borrowings under line of credit 0 (14,758) 0
Proceeds from issuance of private placement 250,000 0 0
Payments of stock issuance costs (19,618) 0 0
Payments for share-based payment tax withholding (26,424) 0 (154)
Payments for repurchase of common stock 0 0 (10,452)
Payment of capital distributions 0 (7,522) (1,182)
Payment of debt issuance costs 0 (491) 0
Net cash provided by (used in) financing activities 203,958 (2,025) (11,788)
Net Increase (Decrease) in Cash, Cash Equivalents, and Restricted Cash (122,619) 10,927 (42,113)
Cash, Cash Equivalents, and Restricted Cash, Beginning of Period 216,519 52,705 93,900
Cash, Cash Equivalents, and Restricted Cash, End of Period 93,900 216,519 51,787
Supplemental Disclosure of Cash Flow Information      
Cash paid during the period for interest 527 537 1,407
Cash paid during the period for income taxes, net 0 0 4,973
Noncash Investing and Financing Activities      
Distributions declared, but not paid 0 0 1,521
Preferred dividends, paid in-kind 0 58,709 0
Change in temporary equity redemption value 0 195,665 0
Capital expenditures incurred but not yet paid 1,156 0 $ 278
Sunlight Financial LLC      
Cash Flows From Financing Activities      
Cash, Cash Equivalents, and Restricted Cash, Beginning of Period $ 63,632    
Cash, Cash Equivalents, and Restricted Cash, End of Period   $ 63,632