2014 Q3 Form 10-Q Financial Statement

#000119312514284599 Filed on July 29, 2014

View on sec.gov

Income Statement

Concept 2014 Q3 2014 Q2 2013 Q2
Revenue $50.39M $42.47M $6.017M
YoY Change 167.26% 605.77% -11.03%
Cost Of Revenue $19.90M $15.70M $1.300M
YoY Change 352.27% 1107.69% -75.93%
Gross Profit $30.50M $26.70M $4.700M
YoY Change 111.81% 468.09% 235.71%
Gross Profit Margin 60.53% 62.87% 78.11%
Selling, General & Admin $8.800M $19.80M $3.400M
YoY Change 120.0% 482.35% 183.33%
% of Gross Profit 28.85% 74.16% 72.34%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $8.800M $19.80M $1.400M
YoY Change 87.23% 1314.29% -12.5%
Operating Profit $21.70M $6.900M $3.300M
YoY Change 123.71% 109.09% -1750.0%
Interest Expense $19.90M $31.50M $1.306M
YoY Change 351.62% 2311.94% -75.87%
% of Operating Profit 91.72% 456.52% 39.58%
Other Income/Expense, Net
YoY Change
Pretax Income $23.48M $38.40M $7.322M
YoY Change 128.83% 424.45% 98.32%
Income Tax -$118.0K $0.00 $554.0K
% Of Pretax Income -0.5% 0.0% 7.57%
Net Earnings $22.02M $33.47M $2.748M
YoY Change 164.71% 1117.83% 20.37%
Net Earnings / Revenue 43.71% 78.81% 45.67%
Basic Earnings Per Share $0.45 $0.70 $0.22
Diluted Earnings Per Share $0.45 $0.70 $0.22
COMMON SHARES
Basic Shares Outstanding 48.48M shares 48.48M shares 12.40M shares
Diluted Shares Outstanding 12.40M shares

Balance Sheet

Concept 2014 Q3 2014 Q2 2013 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $63.00M $120.0M $60.00M
YoY Change 530.0% 100.0% 71.43%
Cash & Equivalents $63.34M $120.5M $59.75M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $63.00M $120.0M $60.00M
YoY Change 530.0% 100.0% 25.0%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $15.00M $14.00M $23.00M
YoY Change -42.31% -39.13% -91.64%
Other Assets $11.00M $11.00M $22.00M
YoY Change -85.53% -50.0% 22.22%
Total Long-Term Assets $4.035B $3.635B $1.027B
YoY Change 157.48% 253.88% 91.62%
TOTAL ASSETS
Total Short-Term Assets $63.00M $120.0M $60.00M
Total Long-Term Assets $4.035B $3.635B $1.027B
Total Assets $4.098B $3.755B $1.087B
YoY Change 159.84% 245.39% 86.15%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $1.896B $1.780B $165.0M
YoY Change 194.87% 978.79%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.896B $1.780B $165.0M
YoY Change 194.87% 978.79% 16400.0%
LONG-TERM LIABILITIES
Long-Term Debt $609.0M $622.0M $83.00M
YoY Change 633.73% 649.4% -84.22%
Other Long-Term Liabilities $83.00M $71.00M $37.00M
YoY Change 76.6% 91.89% 5.71%
Total Long-Term Liabilities $692.0M $693.0M $120.0M
YoY Change 432.31% 477.5% -78.61%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.896B $1.780B $165.0M
Total Long-Term Liabilities $692.0M $693.0M $120.0M
Total Liabilities $2.589B $2.473B $285.4M
YoY Change 234.55% 766.3% -53.89%
SHAREHOLDERS EQUITY
Retained Earnings -$538.7M -$531.9M -$530.5M
YoY Change 1.66% 0.26%
Common Stock $2.023B $1.768B $1.243B
YoY Change 62.69% 42.25%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.478B $1.239B $712.7M
YoY Change
Total Liabilities & Shareholders Equity $4.098B $3.755B $1.087B
YoY Change 159.84% 245.39% 86.15%

Cashflow Statement

Concept 2014 Q3 2014 Q2 2013 Q2
OPERATING ACTIVITIES
Net Income $22.02M $33.47M $2.748M
YoY Change 164.71% 1117.83% 20.37%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $23.50M $19.00M $3.600M
YoY Change 135.0% 427.78% -30.77%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$418.5M -$791.5M -$666.0M
YoY Change -21.39% 18.84% -222100.0%
Cash From Investing Activities -$418.5M -$791.5M -$666.0M
YoY Change -21.39% 18.84% -222100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 339.6M 822.1M 706.7M
YoY Change -28.19% 16.33% -8824.69%
NET CHANGE
Cash From Operating Activities 23.50M 19.00M 3.600M
Cash From Investing Activities -418.5M -791.5M -666.0M
Cash From Financing Activities 339.6M 822.1M 706.7M
Net Change In Cash -55.40M 49.60M 44.30M
YoY Change 11.92% 11.96% -1803.85%
FREE CASH FLOW
Cash From Operating Activities $23.50M $19.00M $3.600M
Capital Expenditures
Free Cash Flow
YoY Change

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5024000
us-gaap Noninterest Expense
NoninterestExpense
26361000
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
5024000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
18554000
us-gaap Restricted Stock Expense
RestrictedStockExpense
4029000
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
4103000
us-gaap Other Tax Expense Benefit
OtherTaxExpenseBenefit
64000
us-gaap Dividends Common Stock
DividendsCommonStock
42122000
us-gaap Proceeds From Sale And Collection Of Loans Receivable
ProceedsFromSaleAndCollectionOfLoansReceivable
271884000
us-gaap Proceeds From Loan Originations1
ProceedsFromLoanOriginations1
1740977000
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.
us-gaap Schedule Of Repurchase Agreements
ScheduleOfRepurchaseAgreements
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt"> The following table details our repurchase obligations outstanding ($ in thousands):</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt"> &#xA0;</p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"><!-- Begin Table Head --> <tr> <td width="45%"></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 valign="bottom" width="2%"></td> <td></td> <td></td> <td></td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="18" align="center"><b>June&#xA0;30, 2014</b></td> <td valign="bottom">&#xA0;</td> <td style="BORDER-LEFT: rgb(0,0,0) 1px solid" valign="bottom"> &#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" colspan="2" align="center"><b>Dec. 31, 2013</b></td> <td valign="bottom">&#xA0;</td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"> <b>Maximum</b></td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"> <b>Collateral</b></td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="10" nowrap="nowrap" align="center"><b>Repurchase Borrowings<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(3)</sup></b></td> <td valign="bottom">&#xA0;</td> <td style="BORDER-LEFT: rgb(0,0,0) 1px solid" valign="bottom"> &#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" colspan="2" nowrap="nowrap" align="center"> <b>Borrowings</b></td> <td valign="bottom">&#xA0;</td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"> <td valign="bottom" nowrap="nowrap"> <p style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman; BORDER-BOTTOM: rgb(0,0,0) 1pt solid; WIDTH: 24.9pt"> <b>Lender</b></p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="2" nowrap="nowrap" align="center"> <b>Facility&#xA0;Size<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1)</sup></b></td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Assets<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(2)</sup></b></td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Potential</b></td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Outstanding</b></td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Available</b></td> <td valign="bottom">&#xA0;</td> <td style="BORDER-LEFT: rgb(0,0,0) 1px solid" valign="bottom"> &#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Outstanding</b></td> <td valign="bottom">&#xA0;</td> </tr> <!-- End Table Head --><!-- Begin Table Body --> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em"> <b>Revolving Repurchase Facilities</b></p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td style="BORDER-LEFT: rgb(0,0,0) 1px solid" valign="bottom"> &#xA0;&#xA0;</td> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em"> Bank of America</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">500,000</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">517,280</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">406,653</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">387,653</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">19,000</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td style="BORDER-LEFT: rgb(0,0,0) 1px solid" valign="bottom"> &#xA0;&#xA0;</td> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">271,320</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em"> Citibank</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">500,000</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">611,459</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">461,556</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">351,245</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">110,311</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td style="BORDER-LEFT: rgb(0,0,0) 1px solid" valign="bottom"> &#xA0;&#xA0;</td> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">334,692</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em"> JP Morgan<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(4)</sup></p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">510,697</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">467,722</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">354,776</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">293,600</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">61,176</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td style="BORDER-LEFT: rgb(0,0,0) 1px solid" valign="bottom"> &#xA0;&#xA0;</td> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">257,610</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em"> Wells Fargo</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">500,000</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">301,083</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">231,600</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">190,125</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">41,475</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td style="BORDER-LEFT: rgb(0,0,0) 1px solid" valign="bottom"> &#xA0;&#xA0;</td> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em"> Morgan Stanley<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(5)</sup></p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">425,875</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">169,804</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">135,765</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">135,765</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td style="BORDER-LEFT: rgb(0,0,0) 1px solid" valign="bottom"> &#xA0;&#xA0;</td> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em"> MetLife</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">500,000</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">214,524</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">165,369</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">165,369</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td style="BORDER-LEFT: rgb(0,0,0) 1px solid" valign="bottom"> &#xA0;&#xA0;</td> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid">&#xA0;</p> </td> <td>&#xA0;</td> <td style="BORDER-LEFT: rgb(0,0,0) 1px solid" valign="bottom"> &#xA0;&#xA0;</td> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid">&#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; TEXT-INDENT: -1em"> Subtotal</p> </td> <td valign="bottom"><font style="FONT-SIZE: 8pt">&#xA0;&#xA0;</font></td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">2,936,572</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom"><font style="FONT-SIZE: 8pt">&#xA0;&#xA0;</font></td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">2,281,872</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom"><font style="FONT-SIZE: 8pt">&#xA0;&#xA0;</font></td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">1,755,719</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom"><font style="FONT-SIZE: 8pt">&#xA0;&#xA0;</font></td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">1,523,757</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom"><font style="FONT-SIZE: 8pt">&#xA0;&#xA0;</font></td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">231,962</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td style="BORDER-LEFT: rgb(0,0,0) 1px solid" valign="bottom"> <font style="FONT-SIZE: 8pt">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"><font style="FONT-SIZE: 8pt">&#xA0;&#xA0;</font></td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">863,622</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 1pt"> <td height="8"></td> <td height="8" colspan="4"></td> <td height="8" colspan="4"></td> <td height="8" colspan="4"></td> <td height="8" colspan="4"></td> <td height="8" colspan="4"></td> <td style="BORDER-LEFT: rgb(0,0,0) 1px solid" height="8" colspan="2">&#xA0;</td> <td height="8" colspan="4"></td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em"> <b>Asset-Specific Repurchase Agreements</b></p> </td> <td valign="bottom"><font style="FONT-SIZE: 8pt">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><font style="FONT-SIZE: 8pt">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><font style="FONT-SIZE: 8pt">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><font style="FONT-SIZE: 8pt">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><font style="FONT-SIZE: 8pt">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td style="BORDER-LEFT: rgb(0,0,0) 1px solid" valign="bottom"> <font style="FONT-SIZE: 8pt">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"><font style="FONT-SIZE: 8pt">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em"> Wells Fargo<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(6)</sup></p> </td> <td valign="bottom"><font style="FONT-SIZE: 8pt">&#xA0;&#xA0;</font></td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">148,110</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom"><font style="FONT-SIZE: 8pt">&#xA0;&#xA0;</font></td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">155,184</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom"><font style="FONT-SIZE: 8pt">&#xA0;&#xA0;</font></td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">120,485</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom"><font style="FONT-SIZE: 8pt">&#xA0;&#xA0;</font></td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">120,485</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom"><font style="FONT-SIZE: 8pt">&#xA0;&#xA0;</font></td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> <td valign="bottom" nowrap="nowrap" align="right"> &#x2014;&#xA0;&#xA0;</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td style="BORDER-LEFT: rgb(0,0,0) 1px solid" valign="bottom"> <font style="FONT-SIZE: 8pt">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"><font style="FONT-SIZE: 8pt">&#xA0;&#xA0;</font></td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">245,731</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; 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PlanAdoptionDate
March 25, 2014
bxmt Management Incentive Awards Plan
ManagementIncentiveAwardsPlan
552000
bxmt Incentive Fee Computation Percent Of Outstanding Equity Per Annum
IncentiveFeeComputationPercentOfOutstandingEquityPerAnnum
0.0700 pure
CY2013 bxmt Participations Sold Loan Coupon Rate Description
ParticipationsSoldLoanCouponRateDescription
L+5.12 %
CY2013Q2 us-gaap Interest Expense
InterestExpense
1306000
CY2013 bxmt Participations Sold Loan Yield Description
ParticipationsSoldLoanYieldDescription
L+5.26 %
bxmt Expenses Of Consolidated Securitization Vehicles
ExpensesOfConsolidatedSecuritizationVehicles
269000
CY2013Q2 us-gaap Professional Fees
ProfessionalFees
846000
us-gaap Net Income Loss
NetIncomeLoss
33466000
bxmt Debt Instrument Covenant Minimum Percentage Of Tangible Net Worth On Net Cash Proceed Of Equity Issuances
DebtInstrumentCovenantMinimumPercentageOfTangibleNetWorthOnNetCashProceedOfEquityIssuances
0.75 pure
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
1894000
us-gaap Line Of Credit Facility Average Outstanding Amount
LineOfCreditFacilityAverageOutstandingAmount
1400000000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
24294000
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
4973000
us-gaap Noninterest Expense
NoninterestExpense
19766000
CY2013 bxmt Number Of Loans Underlying
NumberOfLoansUnderlying
1 Participants
CY2013 bxmt Underlying Loans Coupon Rate Description
UnderlyingLoansCouponRateDescription
L+5.66 %
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
4973000
bxmt Stock Issued During Period Shares Issuance Of Deferred Shares
StockIssuedDuringPeriodSharesIssuanceOfDeferredShares
10009 shares
bxmt Payment For Settlement Of Interest Rate Swap
PaymentForSettlementOfInterestRateSwap
0
bxmt Commitments Expiration Period
CommitmentsExpirationPeriod
P5Y
bxmt Operating Losses Carryforwards Expiration Dates
OperatingLossesCarryforwardsExpirationDates
Expire in 2029
bxmt Noncontrolling Interest Increase Decrease From Business Combination
NoncontrollingInterestIncreaseDecreaseFromBusinessCombination
0
CY2013 bxmt Underlying Loans Yield Description
UnderlyingLoansYieldDescription
L+9.25 %
CY2013Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.22
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
15356000
us-gaap Restricted Stock Expense
RestrictedStockExpense
2289000
us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
474000
bxmt Closing Of Asset Specific Repurchase Facilities
ClosingOfAssetSpecificRepurchaseFacilities
1 Assets
bxmt Proceeds From Loan Origination And Exit Fees
ProceedsFromLoanOriginationAndExitFees
21751000
CY2013Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
12401274 shares
CY2013Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.22
CY2013Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
12401274 shares
CY2013Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.22
CY2013Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
12401274 shares
us-gaap Share Based Compensation
ShareBasedCompensation
2799000
us-gaap Interest Expense
InterestExpense
15720000
us-gaap Professional Fees
ProfessionalFees
758000
bxmt Number Of Loan Participations Sold
NumberOfLoanParticipationsSold
3 Participants
bxmt Participations Sold Loan Coupon Rate Description
ParticipationsSoldLoanCouponRateDescription
L+2.99 %
bxmt Participations Sold Loan Yield Description
ParticipationsSoldLoanYieldDescription
L+3.21 %
bxmt Closing Of Revolving Repurchase Facility
ClosingOfRevolvingRepurchaseFacility
3 Facility
CY2013Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
37000
CY2013Q2 us-gaap Management Fee Expense
ManagementFeeExpense
920000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
94000
us-gaap Management Fee Expense
ManagementFeeExpense
4410000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-2000

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