2014 Q2 Form 10-Q Financial Statement
#000119312514167176 Filed on April 29, 2014
Income Statement
Concept | 2014 Q2 | 2014 Q1 | 2013 Q1 |
---|---|---|---|
Revenue | $42.47M | $33.66M | $1.456M |
YoY Change | 605.77% | 2211.54% | -90.11% |
Cost Of Revenue | $15.70M | $12.10M | $800.0K |
YoY Change | 1107.69% | 1412.5% | -96.57% |
Gross Profit | $26.70M | $21.60M | $700.0K |
YoY Change | 468.09% | 2985.71% | -108.14% |
Gross Profit Margin | 62.87% | 64.18% | 48.08% |
Selling, General & Admin | $19.80M | $6.600M | $2.000M |
YoY Change | 482.35% | 230.0% | 900.0% |
% of Gross Profit | 74.16% | 30.56% | 285.71% |
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | |||
YoY Change | |||
% of Gross Profit | |||
Operating Expenses | $19.80M | $6.600M | $2.200M |
YoY Change | 1314.29% | 200.0% | 175.0% |
Operating Profit | $6.900M | $15.00M | -$1.500M |
YoY Change | 109.09% | -1100.0% | -84.04% |
Interest Expense | $31.50M | $12.07M | $777.0K |
YoY Change | 2311.94% | 1453.93% | -83.47% |
% of Operating Profit | 456.52% | 80.49% | |
Other Income/Expense, Net | |||
YoY Change | |||
Pretax Income | $38.40M | $13.65M | -$1.559M |
YoY Change | 424.45% | -975.37% | -101.1% |
Income Tax | $0.00 | $531.0K | $38.00K |
% Of Pretax Income | 0.0% | 3.89% | |
Net Earnings | $33.47M | $13.07M | -$3.115M |
YoY Change | 1117.83% | -519.42% | -104.68% |
Net Earnings / Revenue | 78.81% | 38.82% | -213.94% |
Basic Earnings Per Share | $0.70 | $0.34 | -$1.03 |
Diluted Earnings Per Share | $0.70 | $0.34 | -$1.03 |
COMMON SHARES | |||
Basic Shares Outstanding | 48.48M shares | 37.97M shares | 3.016M shares |
Diluted Shares Outstanding | 37.97M shares | 3.016M shares |
Balance Sheet
Concept | 2014 Q2 | 2014 Q1 | 2013 Q1 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $120.0M | $71.00M | $15.00M |
YoY Change | 100.0% | 373.33% | -59.46% |
Cash & Equivalents | $120.5M | $70.83M | $15.36M |
Short-Term Investments | |||
Other Short-Term Assets | |||
YoY Change | |||
Inventory | |||
Prepaid Expenses | |||
Receivables | |||
Other Receivables | |||
Total Short-Term Assets | $120.0M | $71.00M | $15.00M |
YoY Change | 100.0% | 373.33% | -69.39% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | |||
YoY Change | |||
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | $14.00M | $23.00M | $32.00M |
YoY Change | -39.13% | -28.13% | -88.65% |
Other Assets | $11.00M | $11.00M | $13.00M |
YoY Change | -50.0% | -15.38% | -13.33% |
Total Long-Term Assets | $3.635B | $2.823B | $350.0M |
YoY Change | 253.88% | 706.68% | -37.16% |
TOTAL ASSETS | |||
Total Short-Term Assets | $120.0M | $71.00M | $15.00M |
Total Long-Term Assets | $3.635B | $2.823B | $350.0M |
Total Assets | $3.755B | $2.894B | $365.0M |
YoY Change | 245.39% | 692.98% | -39.77% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | |||
YoY Change | |||
Accrued Expenses | |||
YoY Change | |||
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $1.780B | $1.530B | $0.00 |
YoY Change | 978.79% | ||
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $1.780B | $1.530B | |
YoY Change | 978.79% | ||
LONG-TERM LIABILITIES | |||
Long-Term Debt | $622.0M | $289.0M | $146.0M |
YoY Change | 649.4% | 97.95% | -72.66% |
Other Long-Term Liabilities | $71.00M | $67.00M | $57.00M |
YoY Change | 91.89% | 17.54% | 5.56% |
Total Long-Term Liabilities | $693.0M | $356.0M | $203.0M |
YoY Change | 477.5% | 75.37% | -65.48% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $1.780B | $1.530B | |
Total Long-Term Liabilities | $693.0M | $356.0M | $203.0M |
Total Liabilities | $2.473B | $1.886B | $289.0M |
YoY Change | 766.3% | 552.59% | -55.12% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$531.9M | -$542.0M | |
YoY Change | 0.26% | ||
Common Stock | $1.768B | $1.511B | |
YoY Change | 42.25% | ||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $1.239B | $970.1M | $76.00M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $3.755B | $2.894B | $365.0M |
YoY Change | 245.39% | 692.98% | -39.77% |
Cashflow Statement
Concept | 2014 Q2 | 2014 Q1 | 2013 Q1 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | $33.47M | $13.07M | -$3.115M |
YoY Change | 1117.83% | -519.42% | -104.68% |
Depreciation, Depletion And Amortization | |||
YoY Change | |||
Cash From Operating Activities | $19.00M | $15.00M | $800.0K |
YoY Change | 427.78% | 1775.0% | -38.46% |
INVESTING ACTIVITIES | |||
Capital Expenditures | |||
YoY Change | |||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | -$791.5M | -$657.1M | $2.700M |
YoY Change | 18.84% | -24437.04% | -97.44% |
Cash From Investing Activities | -$791.5M | -$657.1M | $2.700M |
YoY Change | 18.84% | -24437.04% | -97.44% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | $256.1M | ||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | 822.1M | 660.6M | -3.500M |
YoY Change | 16.33% | -18974.29% | -96.64% |
NET CHANGE | |||
Cash From Operating Activities | 19.00M | 15.00M | 800.0K |
Cash From Investing Activities | -791.5M | -657.1M | 2.700M |
Cash From Financing Activities | 822.1M | 660.6M | -3.500M |
Net Change In Cash | 49.60M | 18.50M | 0.000 |
YoY Change | 11.96% | -100.0% | |
FREE CASH FLOW | |||
Cash From Operating Activities | $19.00M | $15.00M | $800.0K |
Capital Expenditures | |||
Free Cash Flow | |||
YoY Change |
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
CY2013Q1 | us-gaap |
Dividends Payable Current
DividendsPayableCurrent
|
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Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
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Common Stock Shares Authorized
CommonStockSharesAuthorized
|
100000000 | shares |
CY2014Q1 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.01 | |
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Preferred Stock Shares Issued
PreferredStockSharesIssued
|
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CY2013Q1 | us-gaap |
Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
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CY2013Q1 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
162445000 | |
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Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
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Deferred Stock Units
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Common Stock Shares Outstanding Including Stock Equivalents
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Common Stock Shares Outstanding
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Common Stock Shares Issued
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Preferred Stock Shares Outstanding
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Common Stock Value
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Securities Sold Under Agreements To Repurchase
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Interest Receivable And Other Assets
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Cash And Cash Equivalents At Carrying Value
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Liabilities
Liabilities
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Financial Instruments Sold Not Yet Purchased At Fair Value
FinancialInstrumentsSoldNotYetPurchasedAtFairValue
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Convertible Notes Payable
ConvertibleNotesPayable
|
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Liabilities Fair Value Disclosure
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|
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Loans Receivable Fair Value Disclosure
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Loans And Leases Receivable Net Reported Amount
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Investments In Affiliates Subsidiaries Associates And Joint Ventures
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Restricted Cash And Cash Equivalents
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Dividends Payable Current
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|
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Accumulated Other Comprehensive Income Loss Net Of Tax
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Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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Stockholders Equity
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Assets
Assets
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Participating Mortgage Loans Participation Liabilities Amount
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Minority Interest
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Secured Debt Other
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Stock Shares Authorized
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Common Stock Par Or Stated Value Per Share
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Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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Stockholders Equity
StockholdersEquity
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Additional Paid In Capital Common Stock
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Cash And Cash Equivalents At Carrying Value
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Common Stock Shares Outstanding Including Stock Equivalents
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Common Stock Shares Outstanding
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Common Stock Shares Authorized
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Accounts Payable And Accrued Liabilities Current And Noncurrent
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Book Value Of Loans In Maturity Default
BookValueOfLoansInMaturityDefault
|
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Deferred Stock Units
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Number Of Loans Receivable Outstanding
NumberOfLoansReceivableOutstanding
|
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CY2014Q1 | bxmt |
Number Of Loans Maturity Default
NumberOfLoansMaturityDefault
|
1 | |
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Debt Instrument Covenant Requirement On Consolidated Tangible Net Worth Minimum
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|
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Cash And Cash Equivalents And Restricted Cash At Carrying Value
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Convertible Notes Payable
ConvertibleNotesPayable
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Interest Receivable And Other Assets
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Cash And Cash Equivalents At Carrying Value
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|
52342000 | |
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Liabilities Fair Value Disclosure
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Operating Loss Carryforwards
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Loans Receivable Fair Value Disclosure
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Loans And Leases Receivable Net Reported Amount
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Restricted Cash And Cash Equivalents
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Assets
Assets
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Minority Interest
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|
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Secured Debt Other
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Retained Earnings Accumulated Deficit
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Participating Mortgage Loans Participation Liabilities Amount
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Common Stock Value
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Liabilities And Stockholders Equity
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|
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Securities Sold Under Agreements To Repurchase
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|
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Liabilities
Liabilities
|
1456030000 | |
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Investments In Affiliates Subsidiaries Associates And Joint Ventures
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|
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Book Value Of Loans In Maturity Default
BookValueOfLoansInMaturityDefault
|
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Number Of Loans Maturity Default
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|
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Cash And Cash Equivalents And Restricted Cash At Carrying Value
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|
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Common Stock Shares Outstanding Including Stock Equivalents
CommonStockSharesOutstandingIncludingStockEquivalents
|
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Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
|
0 | |
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Number Of Loan Participations Sold
NumberOfLoanParticipationsSold
|
1 | Participants |
CY2013 | bxmt |
Participations Sold Loan Coupon Rate Description
ParticipationsSoldLoanCouponRateDescription
|
LIBOR plus 5.12% | |
CY2013 | bxmt |
Participations Sold Loan Yield Description
ParticipationsSoldLoanYieldDescription
|
LIBOR plus 5.26% | |
CY2013Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-1.03 | |
CY2013Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
3016425 | shares |
CY2013Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-1.03 | |
CY2013Q1 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
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|
3016425 | shares |
CY2013Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities Continuing Operations
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|
756000 | |
CY2013Q1 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-1.03 | |
CY2013Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
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|
3016425 | shares |
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Noncontrolling Interest Increase From Business Combination
NoncontrollingInterestIncreaseFromBusinessCombination
|
11963000 | |
CY2013Q1 | us-gaap |
Interest Income Expense Net
InterestIncomeExpenseNet
|
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Repayments Of Other Long Term Debt
RepaymentsOfOtherLongTermDebt
|
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Comprehensive Income Net Of Tax
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|
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CY2013Q1 | us-gaap |
Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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|
-1597000 | |
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Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-1559000 | |
CY2013Q1 | us-gaap |
Income Taxes Paid Net
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|
-38000 | |
CY2013Q1 | us-gaap |
Profit Loss
ProfitLoss
|
-1597000 | |
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Interest Paid
InterestPaid
|
377000 | |
CY2013Q1 | us-gaap |
Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
|
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Net Change In Accrued Interest Receivable Prepaid Expenses And Other Assets
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|
-1244000 | |
CY2013Q1 | bxmt |
Reversal Of Provision For Loan Lease And Other Losses
ReversalOfProvisionForLoanLeaseAndOtherLosses
|
200000 | |
CY2014Q1 | dei |
Trading Symbol
TradingSymbol
|
BXMT | |
CY2014Q1 | dei |
Entity Registrant Name
EntityRegistrantName
|
BLACKSTONE MORTGAGE TRUST, INC. | |
CY2014Q1 | dei |
Amendment Flag
AmendmentFlag
|
false | |
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Entity Filer Category
EntityFilerCategory
|
Accelerated Filer | |
CY2013Q1 | us-gaap |
Noninterest Expense
NoninterestExpense
|
2038000 | |
CY2013Q1 | us-gaap |
Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
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|
1518000 | |
CY2013Q1 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
1975000 | |
CY2013Q1 | us-gaap |
Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
|
174000 | |
CY2013Q1 | us-gaap |
Proceeds From Sale And Collection Of Loans Receivable
ProceedsFromSaleAndCollectionOfLoansReceivable
|
1135000 | |
CY2013Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
-3480000 | |
CY2013Q1 | us-gaap |
Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
|
1412000 | |
CY2013Q1 | us-gaap |
Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
|
398000 | |
CY2013Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
1001000 | |
CY2013Q1 | us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
-62000 | |
CY2013Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
2662000 | |
CY2013Q1 | us-gaap |
Interest Expense
InterestExpense
|
777000 | |
CY2013Q1 | us-gaap |
Professional Fees
ProfessionalFees
|
421000 | |
CY2013Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
38000 | |
CY2013Q1 | us-gaap |
Proceeds From Payments To Minority Shareholders
ProceedsFromPaymentsToMinorityShareholders
|
-1241000 | |
CY2013Q1 | us-gaap |
Management Fee Expense
ManagementFeeExpense
|
63000 | |
CY2013Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
38000 | |
CY2014Q1 | dei |
Document Fiscal Year Focus
DocumentFiscalYearFocus
|
2014 | |
CY2013Q1 | bxmt |
General And Administrative Expenses Subtotal
GeneralAndAdministrativeExpensesSubtotal
|
819000 | |
CY2013Q1 | bxmt |
Increase Decrease In Accounts Payable Accrued Expenses And Other Liabilities
IncreaseDecreaseInAccountsPayableAccruedExpensesAndOtherLiabilities
|
-266000 | |
CY2013Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-3115000 | |
CY2013Q1 | us-gaap |
Adjustments To Additional Paid In Capital Other
AdjustmentsToAdditionalPaidInCapitalOther
|
38000 | |
CY2013Q1 | us-gaap |
Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
|
-1527000 | |
CY2013Q1 | us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
1518000 | |
CY2013Q1 | bxmt |
Management Incentive Awards Plan
ManagementIncentiveAwardsPlan
|
963000 | |
CY2013Q1 | bxmt |
Expenses Of Consolidated Securitization Vehicles
ExpensesOfConsolidatedSecuritizationVehicles
|
155000 | |
CY2013Q1 | bxmt |
Stock Issued During Period Shares Issuance Of Deferred Shares
StockIssuedDuringPeriodSharesIssuanceOfDeferredShares
|
1612 | shares |
CY2013Q1 | bxmt |
Noncontrolling Interest Increase Decrease From Business Combination
NoncontrollingInterestIncreaseDecreaseFromBusinessCombination
|
-38913000 | |
CY2014Q1 | dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--12-31 | |
CY2014Q1 | dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
Q1 | |
CY2014Q1 | dei |
Document Type
DocumentType
|
10-Q | |
CY2014Q1 | dei |
Document Period End Date
DocumentPeriodEndDate
|
2014-03-31 | |
CY2014Q1 | dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001061630 | |
CY2014Q1 | us-gaap |
Number Of Operating Segments
NumberOfOperatingSegments
|
2 | Segment |
CY2014Q1 | us-gaap |
Management Fee Description
ManagementFeeDescription
|
Manager earns a base management fee in an amount equal to the greater of (i) $250,000 per annum and (ii) 1.50% per annum multiplied by our outstanding Equity balance, as defined in the management agreement. In addition, our Manager is entitled to an incentive fee in an amount equal to the product of (i) 20% and (ii) the excess of (a) our Core Earnings (as defined in the management agreement) for the previous 12-month period (or the period since January 1, 2013, whichever is shorter) over (b) an amount equal to 7.00% per annum multiplied by our outstanding Equity, provided that our Core Earnings over the prior three-year period (or the period since the date of the first offering of our class A common stock following December 19, 2012, whichever is shorter) is greater than zero. Core Earnings is generally equal to our net income (loss) prepared in accordance with GAAP, excluding (i) certain non-cash items, including the amortization of the deemed discount on our convertible notes resulting from the conversion option value accounting under GAAP and (ii) the net income (loss) related to our legacy portfolio. | |
CY2014Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.34 | |
CY2014Q1 | us-gaap |
Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
|
0.48 | |
CY2014Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
37967365 | shares |
CY2014Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.34 | |
CY2014Q1 | us-gaap |
Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
|
124000 | |
CY2014Q1 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
37967365 | shares |
CY2014Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
15038000 | |
CY2014Q1 | us-gaap |
Dividends Payable Date Declared Day Month And Year
DividendsPayableDateDeclaredDayMonthAndYear
|
2014-03-14 | |
CY2014Q1 | us-gaap |
Deferred Revenue Description
DeferredRevenueDescription
|
Income accrual is generally suspended for loans at the earlier of the date at which payments become 90 days past due or when, in the opinion of our Manager, recovery of income and principal becomes doubtful | |
CY2014Q1 | us-gaap |
Schedule Of Repurchase Agreements
ScheduleOfRepurchaseAgreements
|
<div> <p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 12px"><font style="FONT-FAMILY: Times New Roman" size="2">The following table details our repurchase obligations outstanding ($ in thousands):</font></p> <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 12px; MARGIN-TOP: 0px">  </p> <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"> <tr> <td width="47%"></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td></td> </tr> <tr> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1">  </font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="18" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>March 31, 2014</b></font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1">  </font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" rowspan="3" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>Dec. 31, 2013</b></font><br /> <font style="FONT-FAMILY: Times New Roman" size="1"><b>Borrowings<br /> Outstanding</b></font></td> <td valign="bottom" rowspan="3"><font size="1"> </font></td> </tr> <tr> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1">  </font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" rowspan="2" colspan="2" nowrap="nowrap" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>Maximum<br /> Facility Size<sup style="VERTICAL-ALIGN: baseline; POSITION: relative; BOTTOM: 0.8ex">(1)</sup></b></font></td> <td valign="bottom" rowspan="2"><font size="1"> </font></td> <td valign="bottom"><font size="1">  </font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" rowspan="2" colspan="2" nowrap="nowrap" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>Collateral<br /> Assets<sup style="VERTICAL-ALIGN: baseline; POSITION: relative; BOTTOM: 0.8ex">(2)</sup></b></font></td> <td valign="bottom" rowspan="2"><font size="1"> </font></td> <td valign="bottom"><font size="1">  </font></td> <td valign="bottom" colspan="10" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>Repurchase Borrowings<sup style="VERTICAL-ALIGN: baseline; POSITION: relative; BOTTOM: 0.8ex">(3)</sup></b></font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1">  </font></td> </tr> <tr> <td valign="bottom" nowrap="nowrap"> <p style="BORDER-BOTTOM: #000000 1px solid; WIDTH: 24pt"> <font style="FONT-FAMILY: Times New Roman" size="1"><b>Lender</b></font></p> </td> <td valign="bottom"><font size="1">  </font></td> <td valign="bottom"><font size="1">  </font></td> <td valign="bottom"><font size="1">  </font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>Potential</b></font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1">  </font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>Outstanding</b></font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1">  </font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>Available</b></font></td> <td valign="bottom"><font size="1"> </font></td> <td valign="bottom"><font size="1">  </font></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top" colspan="24"> <p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2"><b>Revolving Repurchase Facilities</b></font></p> </td> <td valign="top"> <p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2"><b>  </b></font></p> </td> </tr> <tr> <td valign="top"> <p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2">Bank of America</font></p> </td> <td valign="bottom"><font size="1">  </font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">500,000</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td> <td valign="bottom"><font size="1">  </font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">461,041</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td> <td valign="bottom"><font size="1">  </font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">364,813</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td> <td valign="bottom"><font size="1">  </font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">364,813</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td> <td valign="bottom"><font size="1">  </font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td> <td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">—  </font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td> <td valign="bottom"><font size="1">  </font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">271,320</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2">Citibank</font></p> </td> <td valign="bottom"><font size="1">  </font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">500,000</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td> <td valign="bottom"><font size="1">  </font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">654,924</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td> <td valign="bottom"><font size="1">  </font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">489,340</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td> <td valign="bottom"><font size="1">  </font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">307,175</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td> <td valign="bottom"><font size="1">  </font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">182,165</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td> <td valign="bottom"><font size="1">  </font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">334,692</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td> </tr> <tr> <td valign="top"> <p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2">JP Morgan</font><font style="FONT-FAMILY: Times New Roman" size="1"><sup style="VERTICAL-ALIGN: baseline; POSITION: relative; BOTTOM: 0.8ex">(4)</sup></font></p> </td> <td valign="bottom"><font size="1">  </font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">574,130</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td> <td valign="bottom"><font size="1">  </font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">567,368</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td> <td valign="bottom"><font size="1">  </font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">437,867</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td> <td valign="bottom"><font size="1">  </font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">429,978</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td> <td valign="bottom"><font size="1">  </font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">7,889</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td> <td valign="bottom"><font size="1">  </font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">257,610</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2">Wells Fargo</font></p> </td> <td valign="bottom"><font size="1">  </font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">500,000</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td> <td valign="bottom"><font size="1">  </font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">218,650</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td> <td valign="bottom"><font size="1">  </font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">170,200</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td> <td valign="bottom"><font size="1">  </font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">139,325</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td> <td valign="bottom"><font size="1">  </font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">30,875</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td> <td valign="bottom"><font size="1">  </font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td> <td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">—  </font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td> </tr> <tr> <td valign="top"> <p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2">Morgan Stanley</font><font style="FONT-FAMILY: Times New Roman" size="1"><sup style="VERTICAL-ALIGN: baseline; POSITION: relative; BOTTOM: 0.8ex">(5)</sup></font></p> </td> <td valign="bottom"><font size="1">  </font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">412,600</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td> <td valign="bottom"><font size="1">  </font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">83,335</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td> <td valign="bottom"><font size="1">  </font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">66,016</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td> <td valign="bottom"><font size="1">  </font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">66,016</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td> <td valign="bottom"><font size="1">  </font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td> <td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">—  </font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td> <td valign="bottom"><font size="1">  </font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td> <td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">—  </font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid"> </p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid"> </p> </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid"> </p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid"> </p> </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid"> </p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid"> </p> </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid"> </p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid"> </p> </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid"> </p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid"> </p> </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid"> </p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid"> </p> </td> <td> </td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="MARGIN-LEFT: 3em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2">Subtotal</font></p> </td> <td valign="bottom"><font size="1">  </font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">2,486,730</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td> <td valign="bottom"><font size="1">  </font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">1,985,318</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td> <td valign="bottom"><font size="1">  </font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">1,528,236</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td> <td valign="bottom"><font size="1">  </font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">1,307,307</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td> <td valign="bottom"><font size="1">  </font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">220,929</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td> <td valign="bottom"><font size="1">  </font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">863,622</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td> </tr> <tr> <td valign="top"> <p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2"><b>Asset-Specific Repurchase Agreements</b></font></p> </td> <td valign="bottom"><font size="1">  </font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">  </font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">  </font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">  </font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">  </font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">  </font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2">Wells Fargo</font><font style="FONT-FAMILY: Times New Roman" size="1"><sup style="VERTICAL-ALIGN: baseline; POSITION: relative; BOTTOM: 0.8ex">(6)</sup></font></p> </td> <td valign="bottom"><font size="1">  </font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">253,479</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td> <td valign="bottom"><font size="1">  </font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">303,857</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td> <td valign="bottom"><font size="1">  </font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">222,481</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td> <td valign="bottom"><font size="1">  </font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">222,481</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td> <td valign="bottom"><font size="1">  </font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td> <td valign="bottom" nowrap="nowrap" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">—  </font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td> <td valign="bottom"><font size="1">  </font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"> </font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">245,731</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">  </font></td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid"> </p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid"> </p> </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid"> </p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid"> </p> </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid"> </p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid"> </p> </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid"> </p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid"> </p> </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid"> </p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid"> </p> </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid"> </p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid"> </p> </td> <td> </td> </tr> <tr> <td valign="top"> <p style="MARGIN-LEFT: 1em; TEXT-INDENT: -1em"><font style="FONT-FAMILY: Times New Roman" size="2"><b>Total</b></font></p> </td> <td valign="bottom"><font size="1">  </font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"><b>$</b></font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2"><b>2,740,209</b></font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"><b>  </b></font></td> <td valign="bottom"><font size="1">  </font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"><b>$</b></font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2"><b>2,289,175</b></font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"><b>  </b></font></td> <td valign="bottom"><font size="1">  </font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"><b>$</b></font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2"><b>1,750,717</b></font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"><b>  </b></font></td> <td valign="bottom"><font size="1">  </font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"><b>$</b></font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2"><b>1,529,788</b></font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"><b>  </b></font></td> <td valign="bottom"><font size="1">  </font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"><b>$</b></font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2"><b>220,929</b></font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"><b>  </b></font></td> <td valign="bottom"><font size="1">  </font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2"><b>$</b></font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2"><b>1,109,353</b></font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2"><b>  </b></font></td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">  </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 3px double"> </p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 3px double"> </p> </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 3px double"> </p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 3px double"> </p> </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 3px double"> </p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 3px double"> </p> </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 3px double"> </p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 3px double"> </p> </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 3px double"> </p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 3px double"> </p> </td> <td> </td> <td valign="bottom">  </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 3px double"> </p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 3px double"> </p> </td> <td> </td> </tr> </table> <p style="MARGIN-BOTTOM: 2px; BORDER-BOTTOM: #000000 0.5pt solid; MARGIN-TOP: 0px; LINE-HEIGHT: 8px; WIDTH: 10%">  </p> <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td valign="top" width="4%" align="left"><font style="FONT-FAMILY: Times New Roman" size="2">(1)</font></td> <td valign="top" align="left"><font style="FONT-FAMILY: Times New Roman" size="2">Maximum facility size represents the total amount of borrowings provided for in each repurchase agreement, however these borrowings are only available to us once sufficient collateral assets have been pledged under each facility.</font></td> </tr> </table> <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td valign="top" width="4%" align="left"><font style="FONT-FAMILY: Times New Roman" size="2">(2)</font></td> <td valign="top" align="left"><font style="FONT-FAMILY: Times New Roman" size="2">Represents the principal balance of the collateral assets.</font></td> </tr> </table> <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td valign="top" width="4%" align="left"><font style="FONT-FAMILY: Times New Roman" size="2">(3)</font></td> <td valign="top" align="left"><font style="FONT-FAMILY: Times New Roman" size="2">Potential borrowings represent the total amount we could draw under each facility based on collateral already approved and pledged. When undrawn, these amounts are immediately available to us at our sole discretion under the terms of each revolving credit facility.</font></td> </tr> </table> <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td valign="top" width="4%" align="left"><font style="FONT-FAMILY: Times New Roman" size="2">(4)</font></td> <td valign="top" align="left"><font style="FONT-FAMILY: Times New Roman" size="2">The JP Morgan maximum facility size is composed of a $250.0 million facility, a £153.0 million ($252.5 million) facility, and $71.6 million related solely to a specific asset with a repurchase date of June 27, 2014.</font></td> </tr> </table> <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td valign="top" width="4%" align="left"><font style="FONT-FAMILY: Times New Roman" size="2">(5)</font></td> <td valign="top" align="left"><font style="FONT-FAMILY: Times New Roman" size="2">The Morgan Stanley maximum facility size represents a £250.0 million ($412.6 million) facility.</font></td> </tr> </table> <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td valign="top" width="4%" align="left"><font style="FONT-FAMILY: Times New Roman" size="2">(6)</font></td> <td valign="top" align="left"><font style="FONT-FAMILY: Times New Roman" size="2">Represents an aggregate of three asset-specific repurchase agreements with Wells Fargo.</font></td> </tr> </table> </div> | |
CY2014Q1 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
0.34 | |
CY2014Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
37967365 | shares |
CY2014Q1 | us-gaap |
Proceeds From Sale And Collection Of Loans Receivable
ProceedsFromSaleAndCollectionOfLoansReceivable
|
76462000 | |
CY2014Q1 | us-gaap |
Proceeds From Loan Originations1
ProceedsFromLoanOriginations1
|
740236000 | |
CY2014Q1 | us-gaap |
Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
|
100000 | |
CY2014Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
660588000 | |
CY2014Q1 | us-gaap |
Repurchase Agreement Counterparty Weighted Average Maturity Of Agreements1
RepurchaseAgreementCounterpartyWeightedAverageMaturityOfAgreements1
|
P2Y3M18D | |
CY2014Q1 | us-gaap |
Stockholders Equity Period Increase Decrease
StockholdersEquityPeriodIncreaseDecrease
|
251700000 | |
CY2014Q1 | us-gaap |
Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
|
0 | |
CY2014Q1 | us-gaap |
Increase Decrease In Payables Under Repurchase Agreements
IncreaseDecreaseInPayablesUnderRepurchaseAgreements
|
-315862000 | |
CY2014Q1 | us-gaap |
Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
|
575000 | |
CY2014Q1 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<div> <p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><b>Use of Estimates</b></font></p> <p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 6px"><font style="FONT-FAMILY: Times New Roman" size="2">The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results may ultimately differ from those estimates.</font></p> </div> | |
CY2014Q1 | us-gaap |
Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
|
570000 | |
CY2014Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
1970000 | |
CY2014Q1 | us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
18492000 | |
CY2014Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
-657134000 | |
CY2014Q1 | us-gaap |
Interest Expense
InterestExpense
|
12074000 | |
CY2014Q1 | us-gaap |
Proceeds From Sale Of Equity Method Investments
ProceedsFromSaleOfEquityMethodInvestments
|
10200000 | |
CY2014Q1 | us-gaap |
Dividends Payable Date Of Record Day Month And Year
DividendsPayableDateOfRecordDayMonthAndYear
|
2014-03-31 | |
CY2014Q1 | us-gaap |
Additional Cash And Cash Equivalent Related Text
AdditionalCashAndCashEquivalentRelatedText
|
Cash and cash equivalents represent cash on hand, cash held in banks, and liquid investments with original maturities of three months or less | |
CY2014Q1 | us-gaap |
Proceeds From Payments To Minority Shareholders
ProceedsFromPaymentsToMinorityShareholders
|
-575000 | |
CY2014Q1 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
256093000 | |
CY2014Q1 | us-gaap |
Proceeds From Payments For In Securities Sold Under Agreements To Repurchase
ProceedsFromPaymentsForInSecuritiesSoldUnderAgreementsToRepurchase
|
737212000 | |
CY2014Q1 | us-gaap |
Income Loss From Subsidiaries Tax Expense Benefit
IncomeLossFromSubsidiariesTaxExpenseBenefit
|
342000 | |
CY2014Q1 | us-gaap |
Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
|
912600000 | |
CY2014Q1 | us-gaap |
Professional Fees
ProfessionalFees
|
525000 | |
CY2014Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
94000 | |
CY2014Q1 | us-gaap |
Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
|
9775000 | shares |
CY2014Q1 | us-gaap |
Interest Income Expense Net
InterestIncomeExpenseNet
|
21582000 | |
CY2014Q1 | us-gaap |
Repayments Of Other Long Term Debt
RepaymentsOfOtherLongTermDebt
|
787000 | |
CY2014Q1 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
13101000 | |
CY2014Q1 | us-gaap |
Payments Of Financing Costs
PaymentsOfFinancingCosts
|
2217000 | |
CY2014Q1 | us-gaap |
Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
|
13152000 | |
CY2014Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
13647000 | |
CY2014Q1 | us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
-1160000 | |
CY2014Q1 | us-gaap |
Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
|
13276000 | |
CY2014Q1 | us-gaap |
Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
|
-1339000 | |
CY2014Q1 | us-gaap |
Profit Loss
ProfitLoss
|
13116000 | |
CY2014Q1 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation And Exercise Of Stock Options
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions
|
1740000 | |
CY2014Q1 | us-gaap |
Management Fee Expense
ManagementFeeExpense
|
3397000 | |
CY2014Q1 | us-gaap |
Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
|
36000 | |
CY2014Q1 | us-gaap |
Interest Paid
InterestPaid
|
7629000 | |
CY2014Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
531000 | |
CY2014Q1 | bxmt |
Net Taxable Income Subject To Distribution Percent
NetTaxableIncomeSubjectToDistributionPercent
|
1.00 | pure |
CY2014Q1 | bxmt |
General And Administrative Expenses Subtotal
GeneralAndAdministrativeExpensesSubtotal
|
1095000 | |
CY2014Q1 | bxmt |
Incentive Fee Computation Percent Of Product Per Agreement
IncentiveFeeComputationPercentOfProductPerAgreement
|
0.20 | pure |
CY2014Q1 | bxmt |
Annual Distribution Of Net Taxable Income Percentage
AnnualDistributionOfNetTaxableIncomePercentage
|
0.90 | pure |
CY2014Q1 | us-gaap |
Amortization Of Deferred Loan Origination Fees Net
AmortizationOfDeferredLoanOriginationFeesNet
|
3470000 | |
CY2014Q1 | us-gaap |
Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
|
33656000 | |
CY2014Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
13065000 | |
CY2014Q1 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
36000 | |
CY2014Q1 | us-gaap |
Line Of Credit Facility Average Outstanding Amount
LineOfCreditFacilityAverageOutstandingAmount
|
1100000000 | |
CY2014Q1 | us-gaap |
Adjustments To Additional Paid In Capital Other
AdjustmentsToAdditionalPaidInCapitalOther
|
139000 | |
CY2014Q1 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
256093000 | |
CY2014Q1 | bxmt |
Increase Decrease In Accounts Payable Accrued Expenses And Other Liabilities
IncreaseDecreaseInAccountsPayableAccruedExpensesAndOtherLiabilities
|
2510000 | |
CY2014Q1 | bxmt |
Excise Tax Rate
ExciseTaxRate
|
0.04 | pure |
CY2014Q1 | bxmt |
Dividend Paid Date
DividendPaidDate
|
2014-04-15 | |
CY2014Q1 | bxmt |
Dividend Declared Not Paid
DividendDeclaredNotPaid
|
18899000 | |
CY2014Q1 | bxmt |
Computed Management Fee Percent Of Outstanding Equity Balance
ComputedManagementFeePercentOfOutstandingEquityBalance
|
0.0150 | pure |
CY2014Q1 | us-gaap |
Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
|
581000 | |
CY2014Q1 | us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
51000 | |
CY2014Q1 | us-gaap |
Noninterest Expense
NoninterestExpense
|
6596000 | |
CY2014Q1 | us-gaap |
Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
|
51000 | |
CY2014Q1 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
3199000 | |
CY2014Q1 | us-gaap |
Restricted Stock Expense
RestrictedStockExpense
|
1740000 | |
CY2014Q1 | us-gaap |
Other Tax Expense Benefit
OtherTaxExpenseBenefit
|
65000 | |
CY2014Q1 | us-gaap |
Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
|
1625000 | |
CY2014Q1 | us-gaap |
Dividends Common Stock
DividendsCommonStock
|
18899000 | |
CY2014Q1 | bxmt |
Plan Adoption Date
PlanAdoptionDate
|
March 25, 2014 | |
CY2014Q1 | bxmt |
Management Incentive Awards Plan
ManagementIncentiveAwardsPlan
|
136000 | |
CY2014Q1 | bxmt |
Incentive Fee Computation Percent Of Outstanding Equity Per Annum
IncentiveFeeComputationPercentOfOutstandingEquityPerAnnum
|
0.0700 | pure |
CY2014Q1 | bxmt |
Base Management Fee
BaseManagementFee
|
250000 | |
CY2014Q1 | bxmt |
Expenses Of Consolidated Securitization Vehicles
ExpensesOfConsolidatedSecuritizationVehicles
|
134000 | |
CY2014Q1 | bxmt |
Debt Instrument Covenant Minimum Percentage Of Tangible Net Worth On Net Cash Proceed Of Equity Issuances
DebtInstrumentCovenantMinimumPercentageOfTangibleNetWorthOnNetCashProceedOfEquityIssuances
|
0.75 | pure |
CY2014Q1 | bxmt |
Stock Issued During Period Shares Issuance Of Deferred Shares
StockIssuedDuringPeriodSharesIssuanceOfDeferredShares
|
4955 | shares |
CY2014Q1 | bxmt |
Commitments Expiration Period
CommitmentsExpirationPeriod
|
P5Y | |
CY2014Q1 | bxmt |
Operating Losses Carryforwards Expiration Dates
OperatingLossesCarryforwardsExpirationDates
|
Expire in 2029 | |
CY2014Q1 | bxmt |
Proceeds From Loan Origination And Exit Fees
ProceedsFromLoanOriginationAndExitFees
|
7121000 | |
CY2014Q1 | bxmt |
Number Of Loan Participations Sold
NumberOfLoanParticipationsSold
|
1 | Participants |
CY2014Q1 | bxmt |
Participations Sold Loan Coupon Rate Description
ParticipationsSoldLoanCouponRateDescription
|
LIBOR plus 5.12% | |
CY2014Q1 | bxmt |
Participations Sold Loan Yield Description
ParticipationsSoldLoanYieldDescription
|
LIBOR plus 5.26% | |
CY2014Q1 | bxmt |
Closing Of Revolving Repurchase Facility
ClosingOfRevolvingRepurchaseFacility
|
2 | Facility |
CY2014Q1 | bxmt |
Net Change In Accrued Interest Receivable Prepaid Expenses And Other Assets
NetChangeInAccruedInterestReceivablePrepaidExpensesAndOtherAssets
|
2052000 |