$BXMT
BLACKSTONE MORTGAGE TRUST, INC.

2016 Q4 Form 10-Q Financial Statement

#000119312516746588 Filed on October 25, 2016

View on sec.gov

Income Statement

Concept 2016 Q4 2016 Q3 2015 Q3
Revenue $116.3M $128.2M $138.4M
YoY Change -9.42% -7.35% 174.6%
Cost Of Revenue $44.50M $45.40M $51.30M
YoY Change -3.89% -11.5% 157.79%
Gross Profit $71.80M $82.80M $87.00M
YoY Change -12.55% -4.83% 185.25%
Gross Profit Margin 61.74% 64.59% 62.88%
Selling, General & Admin $19.50M $21.10M $19.10M
YoY Change -12.95% 10.47% 117.05%
% of Gross Profit 27.16% 25.48% 21.95%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $19.50M $21.10M $19.10M
YoY Change -12.95% 10.47% 117.05%
Operating Profit $52.30M $61.70M $67.90M
YoY Change -12.4% -9.13% 212.9%
Interest Expense $1.000M $45.37M $51.33M
YoY Change -83.33% -11.6% 157.9%
% of Operating Profit 1.91% 73.54% 75.59%
Other Income/Expense, Net
YoY Change
Pretax Income $53.30M $66.59M $67.86M
YoY Change -18.87% -1.88% 188.97%
Income Tax -$100.0K $194.0K $81.00K
% Of Pretax Income -0.19% 0.29% 0.12%
Net Earnings $53.38M $64.79M $66.89M
YoY Change -18.22% -3.13% 203.71%
Net Earnings / Revenue 45.89% 50.55% 48.34%
Basic Earnings Per Share
Diluted Earnings Per Share $565.1K $688.6K $716.3K
COMMON SHARES
Basic Shares Outstanding 93.91M shares 93.91M shares 93.23M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q4 2016 Q3 2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $76.00M $94.00M $139.0M
YoY Change -20.83% -32.37% 120.63%
Cash & Equivalents $75.57M $94.06M $138.6M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $76.00M $94.00M $139.0M
YoY Change -20.83% -32.37% 120.63%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $0.00 $1.678M $7.000M
YoY Change -100.0% -76.03% -53.33%
Other Assets $0.00 $1.000M $9.000M
YoY Change -100.0% -88.89% -18.18%
Total Long-Term Assets $8.737B $8.417B $9.713B
YoY Change -5.86% -13.34% 140.69%
TOTAL ASSETS
Total Short-Term Assets $76.00M $94.00M $139.0M
Total Long-Term Assets $8.737B $8.417B $9.713B
Total Assets $8.813B $8.511B $9.852B
YoY Change -6.01% -13.61% 140.38%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $6.231B $5.896B $7.257B
YoY Change -8.06% -18.75% 1091.63%
Other Long-Term Liabilities $88.00M $110.0M $95.00M
YoY Change -6.38% 15.79% 14.46%
Total Long-Term Liabilities $6.319B $6.006B $7.352B
YoY Change -8.03% -18.31% 962.43%
TOTAL LIABILITIES
Total Short-Term Liabilities
Total Long-Term Liabilities $6.319B $6.006B $7.352B
Total Liabilities $6.319B $6.006B $7.352B
YoY Change -8.03% -18.3% 184.0%
SHAREHOLDERS EQUITY
Retained Earnings -$541.1M -$535.8M -$552.9M
YoY Change -0.85% -3.09% 2.63%
Common Stock $3.091B $3.086B $3.067B
YoY Change 0.64% 0.63% 51.61%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.494B $2.504B $2.487B
YoY Change
Total Liabilities & Shareholders Equity $8.813B $8.511B $9.852B
YoY Change -6.01% -13.61% 140.38%

Cashflow Statement

Concept 2016 Q4 2016 Q3 2015 Q3
OPERATING ACTIVITIES
Net Income $53.38M $64.79M $66.89M
YoY Change -18.22% -3.13% 203.71%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $49.10M $64.30M $98.20M
YoY Change -26.5% -34.52% 317.87%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$355.5M $846.1M $529.5M
YoY Change -195.87% 59.79% -226.52%
Cash From Investing Activities -$355.5M $846.1M $529.5M
YoY Change -195.87% 59.79% -226.52%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 290.1M -997.8M -594.6M
YoY Change -160.5% 67.81% -275.09%
NET CHANGE
Cash From Operating Activities 49.10M 64.30M 98.20M
Cash From Investing Activities -355.5M 846.1M 529.5M
Cash From Financing Activities 290.1M -997.8M -594.6M
Net Change In Cash -16.30M -87.40M 33.10M
YoY Change -61.1% -364.05% -159.75%
FREE CASH FLOW
Cash From Operating Activities $49.10M $64.30M $98.20M
Capital Expenditures
Free Cash Flow
YoY Change

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us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
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us-gaap Stock Issued During Period Shares Dividend Reinvestment Plan
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us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
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37202000
us-gaap Payments For Participation Liabilities
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238164000
us-gaap Stock Issued During Period Shares New Issues
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us-gaap Professional Fees
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us-gaap Profit Loss
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us-gaap Share Based Compensation
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us-gaap Restricted Stock Expense
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us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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5173559000
us-gaap Income Taxes Paid Net
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125000
us-gaap Payments For Proceeds From Loans Receivable
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us-gaap Interest And Dividend Income Operating
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bxmt Non Cash And Legacy Compensation Expenses
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14638000
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2016-09-30
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17836000
dei Entity Registrant Name
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BLACKSTONE MORTGAGE TRUST, INC.
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20850 shares
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10-Q
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0001061630
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation And Exercise Of Stock Options
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14190000
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15129000
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57800000
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256000000
bxmt Loan Principal Payments Held By Servicer
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232818000
us-gaap Derivative Instruments Gain Loss Reclassified From Accumulated Oci Into Income Effective Portion Net
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2016
dei Amendment Flag
AmendmentFlag
false
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 Common Stock Dividends Per Share Declared
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1.86
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--12-31
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174678000
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us-gaap Management Fee Expense
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43161000
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31594000
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171290000
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-3915000
us-gaap Management Fee Description
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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 our management agreement) for the previous 12-month period 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 is greater than zero. Core Earnings, as defined in our management agreement, is generally equal to our net income (loss) prepared in accordance with GAAP, excluding (i) certain non-cash items (ii) the net income (loss) related to our legacy portfolio and (iii) incentive management fees.
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8119000
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2017-02-28
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14266000
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2016-10-14
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2016-09-13
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11474000
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2016-09-30
us-gaap Additional Cash And Cash Equivalent Related Text
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8167000
us-gaap Proceeds From Issuance Of Secured Debt
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8119000
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20158000
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241867000
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2029-12-31
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<div> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> <b>1. ORGANIZATION</b></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" align="justify">References herein to &#x201C;Blackstone Mortgage Trust,&#x201D; &#x201C;Company,&#x201D; &#x201C;we,&#x201D; &#x201C;us&#x201D; or &#x201C;our&#x201D; refer to Blackstone Mortgage Trust,&#xA0;Inc. and its subsidiaries unless the context specifically requires otherwise.</p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" align="justify">Blackstone Mortgage Trust is a real estate finance company that originates and purchases senior loans collateralized by properties in North America and Europe. We are externally managed by BXMT Advisors L.L.C., or our Manager, a subsidiary of The Blackstone Group L.P., or Blackstone, and are a real estate investment trust, or REIT, traded on the New York Stock Exchange, or NYSE, under the symbol &#x201C;BXMT.&#x201D; We are headquartered in New York City.</p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" align="justify">We conduct our operations as a REIT for U.S. federal income tax purposes. We generally will not be subject to U.S. federal income taxes on our taxable income to the extent that we annually distribute all of our net taxable income to stockholders and maintain our qualification as a REIT. We also operate our business in a manner that permits us to maintain an exclusion from registration under the Investment Company Act of 1940, as amended. We are organized as a holding company and conduct our business primarily through our various subsidiaries.</p> </div>
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187564000
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-20158000
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<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt"> The following table outlines the key terms of our revolving repurchase facilities as of September&#xA0;30, 2016:</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%" border="0"> <tr> <td width="13%"></td> <td valign="bottom" width="2%"></td> <td width="6%"></td> <td valign="bottom" width="2%"></td> <td width="7%"></td> <td valign="bottom" width="2%"></td> <td></td> <td valign="bottom" width="2%"></td> <td></td> <td valign="bottom" width="2%"></td> <td width="35%"></td> <td valign="bottom" width="2%"></td> <td width="14%"></td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"> <td valign="bottom" nowrap="nowrap"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman; WIDTH: 24.9pt; BORDER-BOTTOM: #000000 1pt solid; MARGIN-TOP: 0pt"> <b>Lender</b></p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" nowrap="nowrap" align="center"> <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt" align="center"><b>Currency</b></p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" nowrap="nowrap" align="center"> <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt" align="center"><b>Rate<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(1)</sup></b></p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" nowrap="nowrap" align="center"><b>Guarantee<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(2)</sup></b></td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" nowrap="nowrap" align="center"><b>Advance&#xA0;Rate<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(3)</sup></b></td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" nowrap="nowrap" align="center"> <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt" align="center"><b>Margin Call<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(4)</sup></b></p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" nowrap="nowrap" align="center"> <p style="MARGIN-BOTTOM: 1pt; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt" align="center"><b>Term/Maturity</b></p> </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Wells Fargo</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="top" align="center">$</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="top" align="center">L+1.77%</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" align="center">25%</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" align="center">79.6%</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="top" align="center"> <p style="MARGIN-BOTTOM: 0pt; 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MARGIN-TOP: 0pt; TEXT-INDENT: -1em" align="center">Collateral marks only</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="top" align="center">May 21, 2021<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(7)</sup></td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> JP Morgan</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="top" align="center">$&#xA0;/&#xA0;&#xA3;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="top" align="center">L+1.84%</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" align="center">50%</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" align="center">78.8%</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="top" align="center"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em" align="center">Collateral marks only</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="top" align="center">January 7, 2019</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Citibank</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="top" align="center">$</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="top" align="center">L+1.85%</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" align="center">25%</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" align="center">78.3%</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="top" align="center"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em" align="center">Collateral marks only</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="top" align="center">Term matched<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(5)</sup></td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Morgan Stanley</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="top" align="center"> &#xA3;&#xA0;&#xA0;/&#xA0;&#x20AC;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="top" align="center">L+2.35%</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" align="center">25%</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" align="center">78.8%</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="top" align="center"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em" align="center">Collateral marks only</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="top" align="center">March 1, 2019</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Soci&#xE9;t&#xE9; G&#xE9;n&#xE9;rale</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="top" align="center"> &#xA3;&#xA0;&#xA0;/&#xA0;&#x20AC;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="top" align="center">L+1.71%</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" align="center">25%</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom" align="center">80.0%</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="top" align="center"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em" align="center">Collateral marks only</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="top" align="center">Term matched<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">(5)</sup></td> </tr> </table> <p style="MARGIN-BOTTOM: 2pt; WIDTH: 10%; BORDER-BOTTOM: #000000 1px solid; MARGIN-TOP: 0pt; LINE-HEIGHT: 8pt"> &#xA0;</p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td valign="top" width="4%" align="left">(1)</td> <td valign="top" align="left"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt" align="justify">Represents weighted-average cash coupon based on borrowings outstanding. In instances where our borrowings are denominated in currencies other than the U.S.&#xA0;Dollar, interest accrues at a rate equivalent to a margin plus a base rate other than 1-month USD LIBOR, such as 3-month GBP LIBOR, 3-month EURIBOR, or 3-month CDOR.</p> </td> </tr> </table> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td valign="top" width="4%" align="left">(2)</td> <td valign="top" align="left"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt" align="justify">Other than amounts guaranteed based on specific collateral asset types, borrowings under our revolving repurchase facilities are non-recourse to us.</p> </td> </tr> </table> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td valign="top" width="4%" align="left">(3)</td> <td valign="top" align="left"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt" align="justify">Represents weighted-average advance rate based on the outstanding principal balance of the collateral assets pledged.</p> </td> </tr> </table> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td valign="top" width="4%" align="left">(4)</td> <td valign="top" align="left"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt" align="justify">Margin call provisions under our revolving repurchase facilities do not permit valuation adjustments based on capital markets events, and are limited to collateral-specific credit marks.</p> </td> </tr> </table> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td valign="top" width="4%" align="left">(5)</td> <td valign="top" align="left"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt" align="justify">These revolving repurchase facilities have various availability periods during which new advances can be made and which are generally subject to each lender&#x2019;s discretion. Maturity dates for advances outstanding are tied to the term of each respective collateral asset.</p> </td> </tr> </table> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td valign="top" width="4%" align="left">(6)</td> <td valign="top" align="left"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt" align="justify">Includes five one-year extension options which may be exercised at our sole discretion.</p> </td> </tr> </table> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td valign="top" width="4%" align="left">(7)</td> <td valign="top" align="left"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt" align="justify">Includes two one-year extension options which may be exercised at our sole discretion.</p> </td> </tr> </table> </div>
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
2988217000
us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
20000
us-gaap Revenue Recognition Interest
RevenueRecognitionInterest
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> <b>Revenue Recognition</b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt" align="justify">Interest income from our loans receivable portfolio is recognized over the life of each investment using the effective interest method and is recorded on the accrual basis. Recognition of fees, premiums, and discounts associated with these investments is deferred until the loan is advanced and is then recorded over the term of the loan as an adjustment to yield. 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. Income is then recorded on the basis of cash received until accrual is resumed when the loan becomes contractually current and performance is demonstrated to be resumed. In addition, for loans we originate, the related origination expenses are deferred and recognized as a component of interest income, however expenses related to loans we acquire are included in general and administrative expenses as incurred.</p> </div>
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
2000
dei Trading Symbol
TradingSymbol
BXMT
us-gaap Stock Issued During Period Shares Dividend Reinvestment Plan
StockIssuedDuringPeriodSharesDividendReinvestmentPlan
812 shares
us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
812 shares
us-gaap Professional Fees
ProfessionalFees
2474000
us-gaap Proceeds From Loans
ProceedsFromLoans
102600000
us-gaap Profit Loss
ProfitLoss
193040000
CY2015Q3 us-gaap Restricted Stock Expense
RestrictedStockExpense
3095000
CY2015Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
93357960 shares
CY2015Q3 bxmt Core General And Administrative Expenses
CoreGeneralAndAdministrativeExpenses
1939000
CY2015Q3 bxmt Non Cash And Legacy Compensation Expenses
NonCashAndLegacyCompensationExpenses
3286000
CY2016Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.69
CY2016Q3 us-gaap Derivative Instruments Gain Loss Reclassified From Accumulated Oci Into Income Effective Portion Net
DerivativeInstrumentsGainLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortionNet
-241000
us-gaap Share Based Compensation
ShareBasedCompensation
16517000
CY2016Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
94071537 shares
CY2016Q3 bxmt Core General And Administrative Expenses
CoreGeneralAndAdministrativeExpenses
1133000
CY2016Q3 bxmt Plan Adoption Date
PlanAdoptionDate
2014-03-25
us-gaap Restricted Stock Expense
RestrictedStockExpense
14190000
us-gaap Mortgage Loans On Real Estate Number Of Loans
MortgageLoansOnRealEstateNumberOfLoans
106
us-gaap Stock Issued During Period Shares Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures
209798 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
94067923 shares
CY2016Q3 bxmt Non Cash And Legacy Compensation Expenses
NonCashAndLegacyCompensationExpenses
6241000
CY2016Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
2060000
CY2016Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
194000
bxmt Adjustments To Additional Paid In Capital Deferred Compensation
AdjustmentsToAdditionalPaidInCapitalDeferredCompensation
282000
bxmt Annual Distribution Of Net Taxable Income Percentage
AnnualDistributionOfNetTaxableIncomePercentage
0.90 pure
bxmt Incentive Fee Computation Percent Of Average Outstanding Equity Per Annum
IncentiveFeeComputationPercentOfAverageOutstandingEquityPerAnnum
0.0700 pure
bxmt Core General And Administrative Expenses
CoreGeneralAndAdministrativeExpenses
4169000
bxmt Commitments Expiration Period
CommitmentsExpirationPeriod
P3Y
bxmt Debt Instrument Covenant Minimum Percentage Of Tangible Net Worth On Net Cash Proceed Of Equity Issuances
DebtInstrumentCovenantMinimumPercentageOfTangibleNetWorthOnNetCashProceedOfEquityIssuances
0.75 pure
bxmt Computed Management Fee Percent Of Average Outstanding Equity Balance
ComputedManagementFeePercentOfAverageOutstandingEquityBalance
0.0150 pure
bxmt Dividends Declared And Not Paid
DividendsDeclaredAndNotPaid
58388000
bxmt Net Taxable Income Subject To Distribution Percent
NetTaxableIncomeSubjectToDistributionPercent
1.00 pure
bxmt Proceeds From Sale Of Loan Participation
ProceedsFromSaleOfLoanParticipation
54441000
bxmt Number Of Loan Participations Sold
NumberOfLoanParticipationsSold
2 Loans
bxmt Excise Tax Rate
ExciseTaxRate
0.04 pure
CY2016Q3 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
62146000
CY2016Q3 us-gaap Stock Issued During Period Shares Dividend Reinvestment Plan
StockIssuedDuringPeriodSharesDividendReinvestmentPlan
262 shares
CY2016Q3 us-gaap Professional Fees
ProfessionalFees
828000
CY2016Q3 us-gaap Profit Loss
ProfitLoss
66392000
CY2016Q3 us-gaap Restricted Stock Expense
RestrictedStockExpense
4855000
bxmt Loan Principal Payments Held By Servicer
LoanPrincipalPaymentsHeldByServicer
9515000
bxmt Expected Loss On Investment
ExpectedLossOnInvestment
0
bxmt Non Cash And Legacy Compensation Expenses
NonCashAndLegacyCompensationExpenses
16690000
bxmt Incentive Fee Computation Percent Of Product Per Agreement
IncentiveFeeComputationPercentOfProductPerAgreement
0.20 pure
CY2016Q3 us-gaap Dividends Common Stock
DividendsCommonStock
58226000
CY2016Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.62
CY2016Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
7414000
CY2016Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
60548000
CY2016Q3 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
1598000
bxmt Number Of Equal Quarterly Installments
NumberOfEqualQuarterlyInstallments
4 Installments
bxmt Participations Sold Loan Weighted Average Term
ParticipationsSoldLoanWeightedAverageTerm
2019-09
bxmt Loan Participation Sold Repaid Net
LoanParticipationSoldRepaidNet
37559000
CY2015 us-gaap Mortgage Loans On Real Estate Number Of Loans
MortgageLoansOnRealEstateNumberOfLoans
125
CY2015 bxmt Number Of Loan Participations Sold
NumberOfLoanParticipationsSold
3 Loans
CY2015 bxmt Participations Sold Loan Weighted Average Term
ParticipationsSoldLoanWeightedAverageTerm
2018-11
CY2015Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.72
CY2015Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.62
CY2015Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
5295000
CY2015Q3 us-gaap Dividends Common Stock
DividendsCommonStock
57800000
CY2015Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
58631000
CY2015Q3 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
890000
CY2015Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax
-23148000
CY2016Q3 us-gaap Derivative Instruments Gain Loss Recognized In Other Comprehensive Income Effective Portion Net
DerivativeInstrumentsGainLossRecognizedInOtherComprehensiveIncomeEffectivePortionNet
5641000
CY2016Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax
-10128000
CY2016Q3 us-gaap Gain Loss On Investments
GainLossOnInvestments
2824000
CY2016Q3 us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
305000
CY2016Q3 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax
5882000
CY2016Q3 us-gaap Net Income Loss
NetIncomeLoss
64794000
CY2016Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
1598000
CY2016Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
66586000
CY2015Q3 us-gaap Gain Loss On Investments
GainLossOnInvestments
-82000
CY2015Q3 us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
671000
CY2015Q3 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax
14891000
CY2015Q3 us-gaap Net Income Loss
NetIncomeLoss
66888000
CY2015Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
890000
CY2015Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
67859000
CY2015Q3 us-gaap Interest Expense
InterestExpense
51329000
CY2015Q3 us-gaap Noninterest Expense
NoninterestExpense
19108000
CY2015Q3 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
87032000
CY2015Q3 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
138361000
CY2015Q3 us-gaap Management Fee Expense
ManagementFeeExpense
13813000
CY2015Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
17000
CY2015Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
81000
CY2015Q3 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
59521000
CY2015Q3 us-gaap Stock Issued During Period Shares Dividend Reinvestment Plan
StockIssuedDuringPeriodSharesDividendReinvestmentPlan
145 shares
CY2015Q3 us-gaap Professional Fees
ProfessionalFees
898000
CY2015Q3 us-gaap Profit Loss
ProfitLoss
67778000
CY2016Q3 us-gaap Interest Expense
InterestExpense
45373000
CY2016Q3 us-gaap Noninterest Expense
NoninterestExpense
21115000
CY2016Q3 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
82817000
CY2016Q3 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
128190000
CY2016Q3 us-gaap Management Fee Expense
ManagementFeeExpense
13701000

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