$ARI
Apollo Commercial Real Estate Finance, Inc.

2014 Q3 Form 10-Q Financial Statement

#000146776014000004 Filed on October 31, 2014

View on sec.gov

Income Statement

Concept 2014 Q3 2013 Q3
Revenue $35.40M $19.70M
YoY Change 79.7% 31.33%
Cost Of Revenue $8.800M $900.0K
YoY Change 877.78% -50.0%
Gross Profit $26.60M $18.80M
YoY Change 41.49% 42.42%
Gross Profit Margin 75.14% 95.43%
Selling, General & Admin $4.600M $4.400M
YoY Change 4.55% 12.82%
% of Gross Profit 17.29% 23.4%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $4.627M $4.418M
YoY Change 4.73% 11.9%
Operating Profit $21.97M $14.38M
YoY Change 52.78% 55.45%
Interest Expense $8.786M $885.0K
YoY Change 892.77% -49.94%
% of Operating Profit 39.99% 6.15%
Other Income/Expense, Net
YoY Change
Pretax Income $19.20M $12.90M
YoY Change 48.84% 5.74%
Income Tax $0.00
% Of Pretax Income 0.0%
Net Earnings $19.16M $12.90M
YoY Change 48.52% 5.64%
Net Earnings / Revenue 54.12% 65.48%
Basic Earnings Per Share
Diluted Earnings Per Share $407.6K $344.9K
COMMON SHARES
Basic Shares Outstanding 46.85M shares 36.88M shares
Diluted Shares Outstanding 47.07M shares 37.38M shares

Balance Sheet

Concept 2014 Q3 2013 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $58.60M $86.80M
YoY Change -32.49% 27.65%
Cash & Equivalents $58.65M $86.82M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $75.70M $92.50M
YoY Change -18.16% 28.29%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $1.296B $682.8M
YoY Change 89.78% 34.75%
Other Assets $38.30M $16.60M
YoY Change 130.72% 1409.09%
Total Long-Term Assets $1.707B $860.3M
YoY Change 98.47% 40.53%
TOTAL ASSETS
Total Short-Term Assets $75.70M $92.50M
Total Long-Term Assets $1.707B $860.3M
Total Assets $1.783B $952.8M
YoY Change 87.14% 39.24%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.600M $1.700M
YoY Change 111.76% -15.0%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $27.50M $21.40M
YoY Change 28.5% 57.35%
LONG-TERM LIABILITIES
Long-Term Debt $873.2M $227.2M
YoY Change 284.33% -6.5%
Other Long-Term Liabilities $26.50M $21.30M
YoY Change 24.41% 7000.0%
Total Long-Term Liabilities $899.7M $248.5M
YoY Change 262.05% 2.14%
TOTAL LIABILITIES
Total Short-Term Liabilities $27.50M $21.40M
Total Long-Term Liabilities $899.7M $248.5M
Total Liabilities $927.3M $269.9M
YoY Change 243.63% 5.08%
SHAREHOLDERS EQUITY
Retained Earnings -$11.66M -$13.24M
YoY Change -11.89% -375.27%
Common Stock $868.1M $696.7M
YoY Change 24.6% 64.91%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $855.7M $682.9M
YoY Change
Total Liabilities & Shareholders Equity $1.783B $952.8M
YoY Change 87.14% 39.24%

Cashflow Statement

Concept 2014 Q3 2013 Q3
OPERATING ACTIVITIES
Net Income $19.16M $12.90M
YoY Change 48.52% 5.64%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $13.40M $10.70M
YoY Change 25.23% -38.15%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$198.6M -$84.10M
YoY Change 136.15% -217.46%
Cash From Investing Activities -$198.6M -$84.10M
YoY Change 136.15% -217.46%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 180.6M 3.400M
YoY Change 5211.76% -110.33%
NET CHANGE
Cash From Operating Activities 13.40M 10.70M
Cash From Investing Activities -198.6M -84.10M
Cash From Financing Activities 180.6M 3.400M
Net Change In Cash -4.600M -70.00M
YoY Change -93.43% -225.0%
FREE CASH FLOW
Cash From Operating Activities $13.40M $10.70M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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ProceedsFromCollectionOfOtherLoansHeldForSale
6598000 USD
us-gaap Proceeds From Collection Of Other Loans Held For Sale
ProceedsFromCollectionOfOtherLoansHeldForSale
0 USD
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
0 USD
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
256970000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
148804000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
158693000 USD
us-gaap Proceeds From Sale Of Other Assets Investing Activities
ProceedsFromSaleOfOtherAssetsInvestingActivities
86000 USD
us-gaap Proceeds From Sale Of Other Assets Investing Activities
ProceedsFromSaleOfOtherAssetsInvestingActivities
0 USD
CY2014Q3 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
3193000 USD
us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
7384000 USD
CY2013Q3 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
2625000 USD
us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
8725000 USD
CY2014Q3 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
30127000 USD
CY2013Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
30127000 USD
CY2013Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-14188000 USD
CY2014Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-11661000 USD
CY2014Q3 us-gaap Securities Sold Under Agreements To Repurchase
SecuritiesSoldUnderAgreementsToRepurchase
537766000 USD
CY2013Q4 us-gaap Securities Sold Under Agreements To Repurchase
SecuritiesSoldUnderAgreementsToRepurchase
202033000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
220000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
2095000 USD
us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
11445000 USD
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
158693000 USD
CY2013Q4 us-gaap Stockholders Equity
StockholdersEquity
682956000 USD
CY2014Q3 us-gaap Stockholders Equity
StockholdersEquity
855686000 USD
CY2014Q3 us-gaap Trading Securities Pledged As Collateral
TradingSecuritiesPledgedAsCollateral
499701000 USD
CY2013Q4 us-gaap Trading Securities Pledged As Collateral
TradingSecuritiesPledgedAsCollateral
158086000 USD
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
155000 USD
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
1933000 USD
CY2014Q3 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
3026000 USD
CY2013Q3 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
25000 USD
CY2013Q3 us-gaap Unrealized Gain Loss On Securities
UnrealizedGainLossOnSecurities
-1472000 USD
us-gaap Unrealized Gain Loss On Securities
UnrealizedGainLossOnSecurities
4787000 USD
us-gaap Unrealized Gain Loss On Securities
UnrealizedGainLossOnSecurities
-3973000 USD
CY2014Q3 us-gaap Unrealized Gain Loss On Securities
UnrealizedGainLossOnSecurities
-2147000 USD
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
35103285 shares
CY2013Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
37379469 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
42538744 shares
CY2014Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
47068929 shares
CY2014Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
46848675 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
42322380 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
34647941 shares
CY2013Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
36883002 shares
CY2013Q4 ari Availableforsale Debt Securities Face Amount
AvailableforsaleDebtSecuritiesFaceAmount
188643000 USD
CY2013Q4 ari Availableforsale Securities Fair Value
AvailableforsaleSecuritiesFairValue
191448000 USD
CY2014Q3 ari Availableforsale Securitiesand Heldtomaturity Securities Accumulated Gross Unrealized Gainbefore Tax
AvailableforsaleSecuritiesandHeldtomaturitySecuritiesAccumulatedGrossUnrealizedGainbeforeTax
7306000 USD
CY2014Q3 ari Availableforsale Securitiesand Heldtomaturity Securities Accumulated Gross Unrealized Lossbefore Tax
AvailableforsaleSecuritiesandHeldtomaturitySecuritiesAccumulatedGrossUnrealizedLossbeforeTax
1131000 USD
CY2014Q3 ari Availableforsale Securitiesand Heldtomaturity Securities Amortized Cost Basis
AvailableforsaleSecuritiesandHeldtomaturitySecuritiesAmortizedCostBasis
665443000 USD
CY2014Q3 ari Availableforsale Securitiesand Heldtomaturity Securities Face Amount
AvailableforsaleSecuritiesandHeldtomaturitySecuritiesFaceAmount
676545000 USD
ari Deferred Financing Costs Not Yet Paid
DeferredFinancingCostsNotYetPaid
250000 USD
ari Deferred Financing Costs Not Yet Paid
DeferredFinancingCostsNotYetPaid
213000 USD
CY2013Q3 ari Earnings Per Share Basicand Diluted Distributed
EarningsPerShareBasicandDilutedDistributed
0.40
CY2014Q3 ari Earnings Per Share Basicand Diluted Distributed
EarningsPerShareBasicandDilutedDistributed
0.40
ari Earnings Per Share Basicand Diluted Distributed
EarningsPerShareBasicandDilutedDistributed
1.28
ari Earnings Per Share Basicand Diluted Distributed
EarningsPerShareBasicandDilutedDistributed
1.24
ari Earnings Per Share Basicand Diluted Undistributed
EarningsPerShareBasicandDilutedUndistributed
-0.40
CY2013Q3 ari Earnings Per Share Basicand Diluted Undistributed
EarningsPerShareBasicandDilutedUndistributed
-0.11
CY2014Q3 ari Earnings Per Share Basicand Diluted Undistributed
EarningsPerShareBasicandDilutedUndistributed
-0.03
ari Earnings Per Share Basicand Diluted Undistributed
EarningsPerShareBasicandDilutedUndistributed
0.06
ari Feesfrom Commercial Real Estate Loans Heldforsale
FeesfromCommercialRealEstateLoansHeldforsale
280000 USD
ari Feesfrom Commercial Real Estate Loans Heldforsale
FeesfromCommercialRealEstateLoansHeldforsale
0 USD
ari Increasein Restricted Cash Financing Activities
IncreaseinRestrictedCashFinancingActivities
0 USD
ari Increasein Restricted Cash Financing Activities
IncreaseinRestrictedCashFinancingActivities
15794000 USD
ari Interestand Fee Income Loans Repurchase Agreements
InterestandFeeIncomeLoansRepurchaseAgreements
2000 USD
ari Interestand Fee Income Loans Repurchase Agreements
InterestandFeeIncomeLoansRepurchaseAgreements
0 USD
CY2014Q3 ari Interestand Fee Income Loans Repurchase Agreements
InterestandFeeIncomeLoansRepurchaseAgreements
0 USD
CY2013Q3 ari Interestand Fee Income Loans Repurchase Agreements
InterestandFeeIncomeLoansRepurchaseAgreements
0 USD
ari Interestand Fee Income Loans Subordinate Commercial Real Estate
InterestandFeeIncomeLoansSubordinateCommercialRealEstate
35137000 USD
CY2013Q3 ari Interestand Fee Income Loans Subordinate Commercial Real Estate
InterestandFeeIncomeLoansSubordinateCommercialRealEstate
12184000 USD
CY2014Q3 ari Interestand Fee Income Loans Subordinate Commercial Real Estate
InterestandFeeIncomeLoansSubordinateCommercialRealEstate
18983000 USD
ari Interestand Fee Income Loans Subordinate Commercial Real Estate
InterestandFeeIncomeLoansSubordinateCommercialRealEstate
51951000 USD
CY2014Q3 ari Participating Securities Distributedand Undistributed Earnings Loss Basicand Diluted
ParticipatingSecuritiesDistributedandUndistributedEarningsLossBasicandDiluted
88000 USD
CY2013Q3 ari Participating Securities Distributedand Undistributed Earnings Loss Basicand Diluted
ParticipatingSecuritiesDistributedandUndistributedEarningsLossBasicandDiluted
202000 USD
ari Participating Securities Distributedand Undistributed Earnings Loss Basicand Diluted
ParticipatingSecuritiesDistributedandUndistributedEarningsLossBasicandDiluted
596000 USD
ari Participating Securities Distributedand Undistributed Earnings Loss Basicand Diluted
ParticipatingSecuritiesDistributedandUndistributedEarningsLossBasicandDiluted
262000 USD
CY2014Q3 ari Payablefor Offering Costs
PayableforOfferingCosts
71000 USD
CY2013Q3 ari Payablefor Offering Costs
PayableforOfferingCosts
0 USD
ari Payments For Securities Sold Under Agreements To Repurchase
PaymentsForSecuritiesSoldUnderAgreementsToRepurchase
68187000 USD
ari Payments For Securities Sold Under Agreements To Repurchase
PaymentsForSecuritiesSoldUnderAgreementsToRepurchase
105658000 USD
ari Paymentsto Purchase Commercial Real Estate Loans Heldforsale
PaymentstoPurchaseCommercialRealEstateLoansHeldforsale
32643000 USD
ari Paymentsto Purchase Commercial Real Estate Loans Heldforsale
PaymentstoPurchaseCommercialRealEstateLoansHeldforsale
211738000 USD
ari Paymentsto Purchase Securitiesat Estimated Fair Value
PaymentstoPurchaseSecuritiesatEstimatedFairValue
70490000 USD
ari Paymentsto Purchase Securitiesat Estimated Fair Value
PaymentstoPurchaseSecuritiesatEstimatedFairValue
325961000 USD
ari Paymentsto Purchase Subordinate Commercial Real Estate Loans Heldforsale
PaymentstoPurchaseSubordinateCommercialRealEstateLoansHeldforsale
213515000 USD
ari Paymentsto Purchase Subordinate Commercial Real Estate Loans Heldforsale
PaymentstoPurchaseSubordinateCommercialRealEstateLoansHeldforsale
353386000 USD
ari Principal Payments Received On Securities Available For Sale
PrincipalPaymentsReceivedOnSecuritiesAvailableForSale
15289000 USD
ari Principal Payments Received On Securities Available For Sale
PrincipalPaymentsReceivedOnSecuritiesAvailableForSale
28485000 USD
ari Principal Payments Received On Securitiesat Estimated Fair Value
PrincipalPaymentsReceivedOnSecuritiesatEstimatedFairValue
49164000 USD
ari Principal Payments Received On Securitiesat Estimated Fair Value
PrincipalPaymentsReceivedOnSecuritiesatEstimatedFairValue
15306000 USD
ari Proceeds From Securities Sold Under Agreements To Repurchase
ProceedsFromSecuritiesSoldUnderAgreementsToRepurchase
441391000 USD
ari Proceeds From Securities Sold Under Agreements To Repurchase
ProceedsFromSecuritiesSoldUnderAgreementsToRepurchase
70195000 USD
ari Proceedsfrom Collectionof Commercial Real Estate Loans Heldforsale
ProceedsfromCollectionofCommercialRealEstateLoansHeldforsale
117003000 USD
ari Proceedsfrom Collectionof Commercial Real Estate Loans Heldforsale
ProceedsfromCollectionofCommercialRealEstateLoansHeldforsale
71173000 USD
CY2014Q2 ari Proceedsfrom Issuanceof Common Stock Netof Offering Costs
ProceedsfromIssuanceofCommonStockNetofOfferingCosts
158439000 USD
ari Proceedsfrom Participating Mortgage Loans
ProceedsfromParticipatingMortgageLoans
89012000 USD
ari Proceedsfrom Participating Mortgage Loans
ProceedsfromParticipatingMortgageLoans
0 USD
ari Proceedsfrom Saleof Mortgage Loans Heldforsale Investing Activities
ProceedsfromSaleofMortgageLoansHeldforsaleInvestingActivities
4950000 USD
ari Proceedsfrom Saleof Mortgage Loans Heldforsale Investing Activities
ProceedsfromSaleofMortgageLoansHeldforsaleInvestingActivities
0 USD
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
dei Document Period End Date
DocumentPeriodEndDate
2014-09-30
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0001467760
CY2014Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
46848675 shares
dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
Apollo Commercial Real Estate Finance, Inc.
dei Trading Symbol
TradingSymbol
ARI

Files In Submission

Name View Source Status
0001467760-14-000004-index-headers.html Edgar Link pending
0001467760-14-000004-index.html Edgar Link pending
0001467760-14-000004.txt Edgar Link pending
0001467760-14-000004-xbrl.zip Edgar Link pending
ari-20140930.xml Edgar Link completed
ari-20140930.xsd Edgar Link pending
ari-20140930x10q.htm Edgar Link pending
ari-20140930xex311.htm Edgar Link pending
ari-20140930xex312.htm Edgar Link pending
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ari-20140930_cal.xml Edgar Link unprocessable
ari-20140930_def.xml Edgar Link unprocessable
ari-20140930_lab.xml Edgar Link unprocessable
ari-20140930_pre.xml Edgar Link unprocessable
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