2022 Q3 Form 10-Q Financial Statement

#000149854722000065 Filed on August 12, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $109.8M $98.49M $105.2M
YoY Change 21.24% 7.33% 18.36%
Cost Of Revenue $9.653M $11.05M $18.13M
YoY Change -54.6% -50.39% -18.82%
Gross Profit $100.1M $87.44M $87.07M
YoY Change 44.52% 25.83% 30.84%
Gross Profit Margin 91.21% 88.78% 82.76%
Selling, General & Admin $16.35M $17.03M $16.82M
YoY Change 10.63% 10.88% -9.0%
% of Gross Profit 16.33% 19.48% 19.32%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $16.98M $18.02M $19.11M
YoY Change -25.53% -26.91% -23.93%
% of Gross Profit 16.96% 20.6% 21.95%
Operating Expenses $38.96M $39.99M $40.67M
YoY Change 8.87% -0.35% -9.2%
Operating Profit $65.08M $112.1M $75.67M
YoY Change -1.74% 48.06% 338.18%
Interest Expense $39.37M $34.46M $31.04M
YoY Change -293.15% 109.36% 55.01%
% of Operating Profit 60.48% 30.74% 41.02%
Other Income/Expense, Net -$49.55M -$38.51M -$36.57M
YoY Change 109.65% 114.66% 82.64%
Pretax Income $15.54M $73.61M $39.10M
YoY Change -63.53% 27.39% -1520.31%
Income Tax
% Of Pretax Income
Net Earnings $15.41M $73.69M $39.09M
YoY Change -63.83% 27.51% -1519.98%
Net Earnings / Revenue 14.04% 74.81% 37.16%
Basic Earnings Per Share $0.04 $0.17 $0.09
Diluted Earnings Per Share $0.04 $0.17 $0.09
COMMON SHARES
Basic Shares Outstanding 436.9M shares 437.3M shares 437.4M shares
Diluted Shares Outstanding 437.3M shares 437.3M shares 437.4M shares

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $124.8M $173.4M $165.1M
YoY Change -56.93% 22.73% 186.9%
Cash & Equivalents $124.8M $173.4M $165.1M
Short-Term Investments
Other Short-Term Assets $50.21M $74.15M $50.74M
YoY Change 247.96% 406.89% 318.79%
Inventory
Prepaid Expenses
Receivables $32.96M $33.10M $42.93M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $208.0M $280.7M $258.8M
YoY Change -42.97% 31.23% 89.06%
LONG-TERM ASSETS
Property, Plant & Equipment $2.242B $2.343B $2.480B
YoY Change -26.19% -26.89% -28.16%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $602.5M $370.5M $332.8M
YoY Change 225.24% 780.76% 395.01%
Other Assets $79.15M $149.0M $569.7M
YoY Change 88.03% 232.01% 916.33%
Total Long-Term Assets $6.917B $6.750B $6.710B
YoY Change 46.66% 45.62% 46.34%
TOTAL ASSETS
Total Short-Term Assets $208.0M $280.7M $258.8M
Total Long-Term Assets $6.917B $6.750B $6.710B
Total Assets $7.125B $7.031B $6.968B
YoY Change 40.23% 44.99% 47.58%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $29.39M $14.41M $16.05M
YoY Change 94.33% -9.67% 4.39%
Accrued Expenses $2.200M $2.200M $2.200M
YoY Change -8.33% -8.33% -8.33%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $44.93M $44.81M $31.59M
YoY Change -10.72% 52.65% -29.83%
LONG-TERM LIABILITIES
Long-Term Debt $4.358B $4.227B $4.181B
YoY Change 56.98% 66.37% 71.0%
Other Long-Term Liabilities $25.75M $25.94M $30.27M
YoY Change -24.85% -42.18% -39.49%
Total Long-Term Liabilities $4.384B $4.253B $4.212B
YoY Change 55.99% 64.48% 68.78%
TOTAL LIABILITIES
Total Short-Term Liabilities $44.93M $44.81M $31.59M
Total Long-Term Liabilities $4.384B $4.253B $4.212B
Total Liabilities $4.443B $4.312B $4.273B
YoY Change 54.5% 62.72% 67.2%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $3.534B $3.534B $3.534B
YoY Change 17.99% 18.0% 11.77%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.512B $2.547B $2.524B
YoY Change
Total Liabilities & Shareholders Equity $7.125B $7.031B $6.968B
YoY Change 40.23% 44.99% 47.58%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income $15.41M $73.69M $39.09M
YoY Change -63.83% 27.51% -1519.98%
Depreciation, Depletion And Amortization $16.98M $18.02M $19.11M
YoY Change -25.53% -26.91% -23.93%
Cash From Operating Activities $64.14M $31.16M $30.07M
YoY Change 99.37% -14.86% 4.6%
INVESTING ACTIVITIES
Capital Expenditures -$2.098M -$4.893M -$9.533M
YoY Change -76.29% 33.0% -12.25%
Acquisitions
YoY Change
Other Investing Activities -$230.8M -$319.8M $72.35M
YoY Change 154.71% 19096.28% -131.23%
Cash From Investing Activities -$232.9M -$324.7M $62.82M
YoY Change 134.16% 5974.89% -125.9%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $9.689M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 122.1M 290.4M $534.0K
YoY Change -44.42% 346.47% -99.67%
NET CHANGE
Cash From Operating Activities 64.14M 31.16M $30.07M
Cash From Investing Activities -232.9M -324.7M $62.82M
Cash From Financing Activities 122.1M 290.4M $534.0K
Net Change In Cash -46.66M -3.158M $93.42M
YoY Change -130.62% -103.28% -285.05%
FREE CASH FLOW
Cash From Operating Activities $64.14M $31.16M $30.07M
Capital Expenditures -$2.098M -$4.893M -$9.533M
Free Cash Flow $66.24M $36.06M $39.60M
YoY Change 61.48% -10.49% -0.02%

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CY2021Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
75725000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
187788000 usd
CY2022Q2 cmft Gain On Investment In Unconsolidated Entities
GainOnInvestmentInUnconsolidatedEntities
1323000 usd
CY2021Q2 cmft Gain On Investment In Unconsolidated Entities
GainOnInvestmentInUnconsolidatedEntities
0 usd
cmft Gain On Investment In Unconsolidated Entities
GainOnInvestmentInUnconsolidatedEntities
6663000 usd
cmft Gain On Investment In Unconsolidated Entities
GainOnInvestmentInUnconsolidatedEntities
0 usd
CY2022Q2 us-gaap Interest Expense
InterestExpense
34460000 usd
CY2021Q2 us-gaap Interest Expense
InterestExpense
16460000 usd
us-gaap Interest Expense
InterestExpense
65497000 usd
us-gaap Interest Expense
InterestExpense
36482000 usd
CY2022Q2 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-5369000 usd
CY2021Q2 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-1478000 usd
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-16240000 usd
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-1478000 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-37960000 usd
CY2022Q2 us-gaap Profit Loss
ProfitLoss
73613000 usd
CY2022Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-38506000 usd
CY2021Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-17938000 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-75074000 usd
CY2021Q2 us-gaap Profit Loss
ProfitLoss
57787000 usd
us-gaap Profit Loss
ProfitLoss
112714000 usd
us-gaap Profit Loss
ProfitLoss
55034000 usd
CY2022Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-72000 usd
CY2021Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
0 usd
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-63000 usd
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
0 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
73685000 usd
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
57787000 usd
us-gaap Net Income Loss
NetIncomeLoss
112777000 usd
us-gaap Net Income Loss
NetIncomeLoss
55034000 usd
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
362226607 shares
CY2022Q2 cmft Percentage Of Rentable Space Leased
PercentageOfRentableSpaceLeased
0.992
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
437346523 shares
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
437346523 shares
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
362448778 shares
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
362448778 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
437360190 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
437360190 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
362226607 shares
CY2022Q2 us-gaap Net Rentable Area
NetRentableArea
12100000 sqft
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.17
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.17
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.16
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.16
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.26
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.26
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.15
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.15
CY2022Q2 us-gaap Profit Loss
ProfitLoss
73613000 usd
CY2021Q2 us-gaap Profit Loss
ProfitLoss
57787000 usd
us-gaap Profit Loss
ProfitLoss
112714000 usd
us-gaap Profit Loss
ProfitLoss
55034000 usd
CY2022Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-10909000 usd
CY2021Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
1930000 usd
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-15787000 usd
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
2052000 usd
CY2022Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
0 usd
CY2021Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
648000 usd
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
0 usd
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
648000 usd
CY2022Q2 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
795000 usd
CY2021Q2 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
-52000 usd
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
2283000 usd
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
71000 usd
CY2022Q2 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
-69000 usd
CY2021Q2 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
-71000 usd
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
-62000 usd
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
-3203000 usd
CY2022Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-10045000 usd
CY2021Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
1301000 usd
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-13442000 usd
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
4678000 usd
CY2022Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
63568000 usd
CY2021Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
59088000 usd
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
99272000 usd
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
59712000 usd
CY2022Q2 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
-72000 usd
CY2021Q2 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
0 usd
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
-63000 usd
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
0 usd
CY2022Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
63640000 usd
CY2021Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
59088000 usd
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
99335000 usd
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
59712000 usd
CY2021Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2528961000 usd
CY2022Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
9574000 usd
CY2022Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
37000 usd
CY2022Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.09
CY2022Q1 us-gaap Dividends Common Stock
DividendsCommonStock
40018000 usd
CY2022Q1 us-gaap Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
9689000 usd
CY2022Q1 us-gaap Temporary Equity Issue Period Increase Or Decrease
TemporaryEquityIssuePeriodIncreaseOrDecrease
115000 usd
CY2022Q1 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
14000 usd
CY2022Q1 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
35704000 usd
CY2022Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2524670000 usd
CY2022Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
9542000 usd
CY2022Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
120000 usd
CY2022Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.09
CY2022Q2 us-gaap Dividends Common Stock
DividendsCommonStock
40018000 usd
CY2022Q2 us-gaap Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
10044000 usd
CY2022Q2 us-gaap Temporary Equity Issue Period Increase Or Decrease
TemporaryEquityIssuePeriodIncreaseOrDecrease
503000 usd
CY2022Q2 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
16000 usd
CY2022Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
63568000 usd
CY2022Q2 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
45 state
CY2022Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2548325000 usd
CY2020Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2198426000 usd
CY2021Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
40000 usd
CY2021Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.09
CY2021Q1 us-gaap Dividends Common Stock
DividendsCommonStock
32906000 usd
CY2021Q1 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
624000 usd
CY2021Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2166184000 usd
CY2021Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
6660000 usd
CY2021Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
49000 usd
CY2021Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.09
CY2021Q2 us-gaap Dividends Common Stock
DividendsCommonStock
32948000 usd
CY2021Q2 us-gaap Temporary Equity Issue Period Increase Or Decrease
TemporaryEquityIssuePeriodIncreaseOrDecrease
-173628000 usd
CY2021Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
59088000 usd
CY2021Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2025405000 usd
us-gaap Profit Loss
ProfitLoss
112714000 usd
us-gaap Profit Loss
ProfitLoss
55034000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
37174000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
49184000 usd
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
6144000 usd
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
3782000 usd
cmft Amortizationof Debt Fair Value Adjustment
AmortizationofDebtFairValueAdjustment
0 usd
cmft Amortizationof Debt Fair Value Adjustment
AmortizationofDebtFairValueAdjustment
149000 usd
us-gaap Amortization Of Deferred Loan Origination Fees Net
AmortizationOfDeferredLoanOriginationFeesNet
4937000 usd
us-gaap Amortization Of Deferred Loan Origination Fees Net
AmortizationOfDeferredLoanOriginationFeesNet
817000 usd
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
-1585000 usd
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
-3767000 usd
cmft Capitalized Interest Income
CapitalizedInterestIncome
608000 usd
cmft Capitalized Interest Income
CapitalizedInterestIncome
435000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
157000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
89000 usd
us-gaap Straight Line Rent
StraightLineRent
3191000 usd
us-gaap Straight Line Rent
StraightLineRent
2756000 usd
cmft Financing Receivable Allowance For Credit Losses Write Offs Straight Line Rent
FinancingReceivableAllowanceForCreditLossesWriteOffsStraightLineRent
-695000 usd
cmft Financing Receivable Allowance For Credit Losses Write Offs Straight Line Rent
FinancingReceivableAllowanceForCreditLossesWriteOffsStraightLineRent
591000 usd
us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
113681000 usd
us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
46469000 usd
us-gaap Gain Loss On Sales Of Loans Net
GainLossOnSalesOfLoansNet
-170000 usd
us-gaap Gain Loss On Sales Of Loans Net
GainLossOnSalesOfLoansNet
813000 usd
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
6663000 usd
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
0 usd
us-gaap Gain On Sale Of Investments
GainOnSaleOfInvestments
22000 usd
us-gaap Gain On Sale Of Investments
GainOnSaleOfInvestments
0 usd
us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
-6431000 usd
us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
0 usd
cmft Gain Loss On Interest Rate Risk Hedge Ineffectiveness
GainLossOnInterestRateRiskHedgeIneffectiveness
-140000 usd
cmft Gain Loss On Interest Rate Risk Hedge Ineffectiveness
GainLossOnInterestRateRiskHedgeIneffectiveness
2757000 usd
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
1851000 usd
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
0 usd
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
19287000 usd
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
4377000 usd
us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
9651000 usd
us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
691000 usd
us-gaap Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
7836000 usd
us-gaap Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
45000 usd
us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
2022000 usd
us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
0 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-67285000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-15466000 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
58802000 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
6234000 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-3440000 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
707000 usd
cmft Increase Decrease In Deferred Rent And Other Liabilities
IncreaseDecreaseInDeferredRentAndOtherLiabilities
-12125000 usd
cmft Increase Decrease In Deferred Rent And Other Liabilities
IncreaseDecreaseInDeferredRentAndOtherLiabilities
-1656000 usd
us-gaap Increase Decrease In Due To Affiliates
IncreaseDecreaseInDueToAffiliates
-180000 usd
us-gaap Increase Decrease In Due To Affiliates
IncreaseDecreaseInDueToAffiliates
1234000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
61231000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
65347000 usd
us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
43250000 usd
us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
0 usd
cmft Proceeds From Equity Method Investment Distribution Investing Activities
ProceedsFromEquityMethodInvestmentDistributionInvestingActivities
614000 usd
cmft Proceeds From Equity Method Investment Distribution Investing Activities
ProceedsFromEquityMethodInvestmentDistributionInvestingActivities
0 usd
us-gaap Payments To Acquire Mortgage Backed Securities Mbs Categorized As Available For Sale
PaymentsToAcquireMortgageBackedSecuritiesMBSCategorizedAsAvailableForSale
259198000 usd
us-gaap Payments To Acquire Mortgage Backed Securities Mbs Categorized As Available For Sale
PaymentsToAcquireMortgageBackedSecuritiesMBSCategorizedAsAvailableForSale
28509000 usd
us-gaap Payments To Acquire Trading Securities Heldforinvestment
PaymentsToAcquireTradingSecuritiesHeldforinvestment
110369000 usd
us-gaap Payments To Acquire Trading Securities Heldforinvestment
PaymentsToAcquireTradingSecuritiesHeldforinvestment
142324000 usd
cmft Payments For Investment In Real Estate Assets And Capital Expenditures
PaymentsForInvestmentInRealEstateAssetsAndCapitalExpenditures
14426000 usd
cmft Payments For Investment In Real Estate Assets And Capital Expenditures
PaymentsForInvestmentInRealEstateAssetsAndCapitalExpenditures
14543000 usd
cmft Payments For Investment In Corporate Senior Loan
PaymentsForInvestmentInCorporateSeniorLoan
55251000 usd
cmft Payments For Investment In Corporate Senior Loan
PaymentsForInvestmentInCorporateSeniorLoan
0 usd
us-gaap Payments To Acquire Loans Held For Investment
PaymentsToAcquireLoansHeldForInvestment
1223605000 usd
us-gaap Payments To Acquire Loans Held For Investment
PaymentsToAcquireLoansHeldForInvestment
533222000 usd
cmft Exit Feesfrom Loans Heldfor Investment
ExitFeesfromLoansHeldforInvestment
13365000 usd
cmft Exit Feesfrom Loans Heldfor Investment
ExitFeesfromLoansHeldforInvestment
4694000 usd
us-gaap Proceeds From Loan Originations1
ProceedsFromLoanOriginations1
127101000 usd
us-gaap Proceeds From Loan Originations1
ProceedsFromLoanOriginations1
97459000 usd
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
1250000 usd
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
20000 usd
us-gaap Proceeds From Deposits On Real Estate Sales
ProceedsFromDepositsOnRealEstateSales
132000 usd
us-gaap Proceeds From Deposits On Real Estate Sales
ProceedsFromDepositsOnRealEstateSales
27624000 usd
us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
1205183000 usd
us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
304370000 usd
CY2021Q4 us-gaap Real Estate Heldforsale
RealEstateHeldforsale
1300000000 usd
us-gaap Proceeds From Sale Of Finance Receivables
ProceedsFromSaleOfFinanceReceivables
35290000 usd
us-gaap Proceeds From Sale Of Finance Receivables
ProceedsFromSaleOfFinanceReceivables
36518000 usd
us-gaap Proceeds From Sale Of Equity Method Investments
ProceedsFromSaleOfEquityMethodInvestments
60663000 usd
us-gaap Proceeds From Sale Of Equity Method Investments
ProceedsFromSaleOfEquityMethodInvestments
0 usd
us-gaap Proceeds From Insurance Settlement Investing Activities
ProceedsFromInsuranceSettlementInvestingActivities
619000 usd
us-gaap Proceeds From Insurance Settlement Investing Activities
ProceedsFromInsuranceSettlementInvestingActivities
58000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-261882000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-247855000 usd
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
19733000 usd
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 usd
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
60834000 usd
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
59166000 usd
us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
1615858000 usd
us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
590182000 usd
us-gaap Repayments Of Debt
RepaymentsOfDebt
1235322000 usd
us-gaap Repayments Of Debt
RepaymentsOfDebt
298021000 usd
CY2022Q2 cmft Number Of Real Estate Properties Sold
NumberOfRealEstatePropertiesSold
80 property
cmft Termination Of Interest Rate Swaps
TerminationOfInterestRateSwaps
101000 usd
cmft Termination Of Interest Rate Swaps
TerminationOfInterestRateSwaps
0 usd
cmft Payments For Deposits On Loan
PaymentsForDepositsOnLoan
0 usd
cmft Payments For Deposits On Loan
PaymentsForDepositsOnLoan
650000 usd
cmft Proceeds From Refund For Deposits On Loan
ProceedsFromRefundForDepositsOnLoan
0 usd
cmft Proceeds From Refund For Deposits On Loan
ProceedsFromRefundForDepositsOnLoan
65000 usd
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
30000 usd
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
0 usd
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
8921000 usd
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
4093000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
290917000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
228317000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
90266000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
45809000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
144173000 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
128408000 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
234439000 usd
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
174217000 usd
CY2022Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
173417000 usd
CY2021Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
141299000 usd
CY2022Q2 us-gaap Restricted Cash
RestrictedCash
61022000 usd
CY2021Q2 us-gaap Restricted Cash
RestrictedCash
32918000 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
234439000 usd
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
174217000 usd
us-gaap Dividends
Dividends
13338000 usd
us-gaap Dividends
Dividends
10997000 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
561000 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
4104000 usd
us-gaap Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction
DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction
596000 usd
us-gaap Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction
DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction
32000 usd
cmft Noncash Or Part Noncash Acquisition Properties Acquired Via Foreclosure
NoncashOrPartNoncashAcquisitionPropertiesAcquiredViaForeclosure
0 usd
cmft Noncash Or Part Noncash Acquisition Properties Acquired Via Foreclosure
NoncashOrPartNoncashAcquisitionPropertiesAcquiredViaForeclosure
191990000 usd
cmft Mezzanine Loan Foreclosure
MezzanineLoanForeclosure
0 usd
cmft Mezzanine Loan Foreclosure
MezzanineLoanForeclosure
79968000 usd
cmft Mortgage Notes Payable Related To Mezzanine Loan Foreclosure
MortgageNotesPayableRelatedToMezzanineLoanForeclosure
0 usd
cmft Mortgage Notes Payable Related To Mezzanine Loan Foreclosure
MortgageNotesPayableRelatedToMezzanineLoanForeclosure
102553000 usd
cmft Mortgage Note Payable Related To Disposition Of Real Estate Assets
MortgageNotePayableRelatedToDispositionOfRealEstateAssets
313712000 usd
cmft Mortgage Note Payable Related To Disposition Of Real Estate Assets
MortgageNotePayableRelatedToDispositionOfRealEstateAssets
0 usd
cmft Proceeds From Interest Received Capitalized
ProceedsFromInterestReceivedCapitalized
0 usd
cmft Proceeds From Interest Received Capitalized
ProceedsFromInterestReceivedCapitalized
9469000 usd
us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
19116000 usd
us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
6660000 usd
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
2205000 usd
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
6031000 usd
cmft Change In Fair Value Of Interest Rate Swaps
ChangeInFairValueOfInterestRateSwaps
-15787000 usd
cmft Change In Fair Value Of Interest Rate Swaps
ChangeInFairValueOfInterestRateSwaps
1404000 usd
us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
68242000 usd
us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
0 usd
us-gaap Interest Paid Net
InterestPaidNet
61802000 usd
us-gaap Interest Paid Net
InterestPaidNet
34183000 usd
us-gaap Income Taxes Paid
IncomeTaxesPaid
1018000 usd
us-gaap Income Taxes Paid
IncomeTaxesPaid
1412000 usd
CY2022Q2 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
402 property
srt Mortgage Loans On Real Estate Number Of Loans
MortgageLoansOnRealEstateNumberOfLoans
341 loan
CY2022Q2 us-gaap Notes Receivable Net
NotesReceivableNet
3900000000 usd
CY2022Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
274400000 usd
CY2014Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
297400000 shares
cmft Common Stock Shares Deregistered Shares
CommonStockSharesDeregisteredShares
404000 shares
CY2022Q2 us-gaap Net Asset Value Per Share
NetAssetValuePerShare
7.20
CY2022Q2 us-gaap Net Asset Value Per Share
NetAssetValuePerShare
7.20
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
ReclassificationsCertain amounts in the Company’s prior period condensed consolidated financial statements have been reclassified to conform to the current period presentation. Other than as shown below, these reclassifications had no effect on previously reported totals or subtotals.
CY2021Q4 us-gaap Deferred Rent Asset Net Current
DeferredRentAssetNetCurrent
58948000 usd
CY2021Q4 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
16279000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-15466000 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
6234000 usd
cmft Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Capitalized Interest Income
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityCapitalizedInterestIncome
546000 usd
us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-top:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-top:9pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements in conformity with GAAP requires management 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 condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</span></div>
cmft Impairmentof Real Estate Number Of Properties
ImpairmentofRealEstateNumberOfProperties
5 property
CY2022Q2 cmft Number Of Real Estate Properties Heldfor Sale
NumberOfRealEstatePropertiesHeldforSale
4 property
CY2022Q2 us-gaap Real Estate Heldforsale
RealEstateHeldforsale
76600000 usd
CY2022Q2 cmft Mortgage Note Payable
MortgageNotePayable
42800000 usd
CY2021Q4 cmft Number Of Real Estate Properties Heldfor Sale
NumberOfRealEstatePropertiesHeldforSale
81 property
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-63000 usd
us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
30000 usd
CY2022Q2 us-gaap Minority Interest
MinorityInterest
1000000 usd
CY2021Q4 us-gaap Minority Interest
MinorityInterest
1100000 usd
CY2022Q2 us-gaap Restricted Cash
RestrictedCash
61000000 usd
CY2021Q4 us-gaap Restricted Cash
RestrictedCash
36800000 usd
cmft Real Estate Securities Capitalized Interest
RealEstateSecuritiesCapitalizedInterest
546000 usd
CY2021Q2 cmft Real Estate Securities Capitalized Interest
RealEstateSecuritiesCapitalizedInterest
262000 usd
cmft Real Estate Securities Capitalized Interest
RealEstateSecuritiesCapitalizedInterest
435000 usd
cmft Financing Receivable Capitalized Interest
FinancingReceivableCapitalizedInterest
62000 usd
CY2022Q2 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
711000000 usd
CY2021Q2 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
1800000 usd
us-gaap Revenue Recognition Leases
RevenueRecognitionLeases
<div style="margin-top:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Revenue Recognition </span></div><div style="margin-top:9pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Revenue from leasing activities</span></div><div style="margin-top:9pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Rental and other property income is primarily derived from fixed contractual payments from operating leases, and therefore, is generally recognized on a straight-line basis over the term of the lease, which typically begins the date the tenant takes control of the space. When the Company acquires a property, the terms of existing leases are considered to commence as of the acquisition date for the purpose of this calculation. Variable rental and other property income consists primarily of tenant reimbursements for recoverable real estate taxes and operating expenses which are included in rental and other property income in the period when such costs are incurred, with offsetting expenses in real estate taxes and property operating expenses, respectively, within the condensed consolidated statements of operations. The Company defers the recognition of variable rental and other property income, such as percentage rents, until the specific target that triggers the contingent rental income is achieved. </span></div><div style="margin-top:9pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company continually reviews whether collection of lease-related receivables, including any straight-line rent, and current and future operating expense reimbursements from tenants are probable. The determination of whether collectability is probable takes into consideration the tenant’s payment history, the financial condition of the tenant, business conditions in the industry in which the tenant operates and economic conditions in the area in which the property is located. Upon the </span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">determination that the collectability of a receivable is not probable, the Company will record a reduction to rental and other property income for amounts previously recorded and a decrease in the outstanding receivable. Revenue from leases where collection is deemed to be not probable is recorded on a cash basis until collectability becomes probable. Management’s estimate of the collectability of lease-related receivables is based on the best information available at the time of estimate. The Company does not use a general reserve approach and lease-related receivables are adjusted and taken against rental and other property income only when collectability becomes not probable.</span></div><div style="margin-top:9pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Revenue from lending activities</span></div><div style="margin-top:9pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Interest income from the Company’s loans held-for-investment and real estate-related securities is comprised of interest earned on loans and the accretion and amortization of net loan origination fees and discounts. Interest income on loans is accrued as earned, with the accrual of interest suspended when the related loan becomes a nonaccrual loan. Interest income on the Company’s liquid senior loans is accrued as earned beginning on the settlement date.</span></div>
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 segment
CY2022Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
34351000 usd
CY2021Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
105361000 usd
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Other Comprehensive Income
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInOtherComprehensiveIncome
-8687000 usd
cmft Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Conversion Of Preferred Units
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityConversionOfPreferredUnits
68243000 usd
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Purchases
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPurchases
4752000 usd
cmft Fair Value Measurementwith Unobservable Inputs Reconciliation Recurring Basis Liability Premium Discount
FairValueMeasurementwithUnobservableInputsReconciliationRecurringBasisLiabilityPremiumDiscount
622000 usd
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
19287000 usd
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
4377000 usd
CY2021Q4 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
27 state
CY2022Q2 cmft Number Of Real Estate Properties Heldfor Sale
NumberOfRealEstatePropertiesHeldforSale
4 property
CY2022Q2 us-gaap Real Estate Heldforsale
RealEstateHeldforsale
76600000 usd
CY2021Q2 us-gaap Real Estate Heldforsale
RealEstateHeldforsale
6100000 usd
cmft Numberof Real Estate Properties Impaired
NumberofRealEstatePropertiesImpaired
5 loan
CY2021Q2 cmft Areaof Real Estate Property Impaired
AreaofRealEstatePropertyImpaired
165000 sqft
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
4400000 usd
CY2022Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
206232000 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
237705000 usd
CY2022Q2 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
4922000 usd
CY2021Q4 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
9043000 usd
cmft Below Market Lease Weighted Average Useful Life
BelowMarketLeaseWeightedAverageUsefulLife
P12Y9M18D
CY2021 cmft Below Market Lease Weighted Average Useful Life
BelowMarketLeaseWeightedAverageUsefulLife
P11Y6M
CY2022Q2 us-gaap Below Market Lease Net
BelowMarketLeaseNet
20337000 usd
CY2021Q4 us-gaap Below Market Lease Net
BelowMarketLeaseNet
24896000 usd
CY2022Q2 us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
484000 usd
CY2021Q2 us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
1377000 usd
us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
1063000 usd
us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
2843000 usd
CY2022Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
293803000 usd
CY2022Q2 us-gaap Debt Securities Available For Sale Accumulated Gross Unrealized Gain Loss Before Tax
DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainLossBeforeTax
-19421000 usd
CY2022Q2 us-gaap Below Market Lease Amortization Income Remainder Of Fiscal Year
BelowMarketLeaseAmortizationIncomeRemainderOfFiscalYear
959000 usd
CY2022Q2 us-gaap Below Market Lease Amortization Income Next Twelve Months
BelowMarketLeaseAmortizationIncomeNextTwelveMonths
1865000 usd
CY2022Q2 us-gaap Below Market Lease Amortization Income Year Two
BelowMarketLeaseAmortizationIncomeYearTwo
1739000 usd
CY2022Q2 us-gaap Below Market Lease Amortization Income Year Three
BelowMarketLeaseAmortizationIncomeYearThree
1667000 usd
CY2022Q2 us-gaap Below Market Lease Amortization Income Year Four
BelowMarketLeaseAmortizationIncomeYearFour
1646000 usd
CY2022Q2 cmft Below Market Lease Amortization Income After Year Four
BelowMarketLeaseAmortizationIncomeAfterYearFour
12461000 usd
CY2022Q2 us-gaap Below Market Lease Net
BelowMarketLeaseNet
20337000 usd
CY2022Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
274400000 usd
CY2022Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
274382000 usd
CY2021Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
102674000 usd
CY2021Q4 us-gaap Debt Securities Available For Sale Accumulated Gross Unrealized Gain Loss Before Tax
DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainLossBeforeTax
2797000 usd
CY2021Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
105471000 usd
cmft Debt Securities Available For Sale Acquired
DebtSecuritiesAvailableForSaleAcquired
258820000 usd
cmft Debt Securities Available For Sale Acquired
DebtSecuritiesAvailableForSaleAcquired
258820000 usd
cmft Debt Securities Available For Sale New Investments
DebtSecuritiesAvailableForSaleNewInvestments
-63490000 usd
cmft Debt Securities Available For Sale New Investments
DebtSecuritiesAvailableForSaleNewInvestments
-63490000 usd
cmft Debt Securities Available For Sale Premium And Discounts On Purchase Net Of Acquisition Costs
DebtSecuritiesAvailableForSalePremiumAndDiscountsOnPurchaseNetOfAcquisitionCosts
-4374000 usd
cmft Debt Securities Available For Sale Premium And Discounts On Purchase Net Of Acquisition Costs
DebtSecuritiesAvailableForSalePremiumAndDiscountsOnPurchaseNetOfAcquisitionCosts
-4374000 usd
cmft Amortization Of Debt Securities Available For Sale
AmortizationOfDebtSecuritiesAvailableForSale
987000 usd
cmft Amortization Of Debt Securities Available For Sale
AmortizationOfDebtSecuritiesAvailableForSale
987000 usd
cmft Debt Securities Available For Sale Sold
DebtSecuritiesAvailableForSaleSold
110000 usd
us-gaap Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
22000 usd
us-gaap Proceeds From Sale Of Mortgage Backed Securities Mbs Categorized As Available For Sale
ProceedsFromSaleOfMortgageBackedSecuritiesMBSCategorizedAsAvailableForSale
132000 usd
cmft Real Estate Securities Capitalized Interest
RealEstateSecuritiesCapitalizedInterest
546000 usd
cmft Real Estate Securities Capitalized Interest
RealEstateSecuritiesCapitalizedInterest
546000 usd
cmft Debt Securities Available For Sale Principal Payments Received
DebtSecuritiesAvailableForSalePrincipalPaymentsReceived
1250000 usd
cmft Debt Securities Available For Sale Principal Payments Received
DebtSecuritiesAvailableForSalePrincipalPaymentsReceived
1250000 usd
us-gaap Debt Securities Available For Sale Unrealized Gain Loss
DebtSecuritiesAvailableForSaleUnrealizedGainLoss
-22196000 usd
us-gaap Debt Securities Available For Sale Unrealized Gain Loss
DebtSecuritiesAvailableForSaleUnrealizedGainLoss
-22196000 usd
CY2022Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
293803000 usd
CY2022Q2 us-gaap Debt Securities Available For Sale Accumulated Gross Unrealized Gain Loss Before Tax
DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainLossBeforeTax
-19421000 usd
CY2022Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
274382000 usd
cmft Number Of Marketable Security Sold
NumberOfMarketableSecuritySold
1 security
cmft Debt Securities Available For Sale Sold
DebtSecuritiesAvailableForSaleSold
110000 usd
us-gaap Proceeds From Sale Of Mortgage Backed Securities Mbs Categorized As Available For Sale
ProceedsFromSaleOfMortgageBackedSecuritiesMBSCategorizedAsAvailableForSale
132000 usd
us-gaap Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
22000 usd
us-gaap Proceeds From Sale Of Equity Securities Fv Ni
ProceedsFromSaleOfEquitySecuritiesFvNi
53400000 usd
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-15800000 usd
us-gaap Available For Sale Debt Securities Gross Unrealized Loss
AvailableForSaleDebtSecuritiesGrossUnrealizedLoss
0 usd
CY2022Q2 us-gaap Notes Receivable Gross
NotesReceivableGross
3911239000 usd
CY2021Q4 us-gaap Notes Receivable Gross
NotesReceivableGross
2624101000 usd
CY2022Q2 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
23935000 usd
CY2021Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
15201000 usd
CY2022Q2 us-gaap Notes Receivable Net
NotesReceivableNet
3887304000 usd
CY2021Q4 us-gaap Notes Receivable Net
NotesReceivableNet
2608900000 usd
CY2022Q2 cmft Financing Receivable Contiguous Mezzanine Loan Components
FinancingReceivableContiguousMezzanineLoanComponents
20100000 usd
CY2022Q2 cmft Loans Receivablewith Variable Rateof Interest Percentageof Total Loan
LoansReceivablewithVariableRateofInterestPercentageofTotalLoan
1
CY2021Q4 us-gaap Notes Receivable Net
NotesReceivableNet
2608900000 usd
cmft Financing Receivable Increase Decrease From Origination And Acquisition
FinancingReceivableIncreaseDecreaseFromOriginationAndAcquisition
1459244000 usd
cmft Financing Receivable Sale Net Book Value
FinancingReceivableSaleNetBookValue
35460000 usd
cmft Financing Receivable Increase Decrease From Initial Funding Net Book Value
FinancingReceivableIncreaseDecreaseFromInitialFundingNetBookValue
127101000 usd
cmft Financing Receivable Capitalized Interest
FinancingReceivableCapitalizedInterest
62000 usd
cmft Financing Receivable Increase Decrease From Deferred Fees And Other Items
FinancingReceivableIncreaseDecreaseFromDeferredFeesAndOtherItems
15143000 usd
cmft Financing Receivable Accretion Amortization Of Fees And Other Items
FinancingReceivableAccretionAmortizationOfFeesAndOtherItems
5536000 usd
cmft Financing Receivable Allowance For Credit Loss And Other Items
FinancingReceivableAllowanceForCreditLossAndOtherItems
8734000 usd
CY2022Q2 us-gaap Notes Receivable Net
NotesReceivableNet
3887304000 usd
us-gaap Debt Instrument Redemption Price Percentage
DebtInstrumentRedemptionPricePercentage
0.080
CY2021Q4 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest Noncurrent
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterestNoncurrent
15201000 usd
CY2022Q1 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
4709000 usd
CY2022Q1 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest Noncurrent
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterestNoncurrent
19910000 usd
CY2022Q2 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
4942000 usd
CY2022Q2 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest Noncurrent
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterestNoncurrent
24852000 usd
CY2022Q2 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest
23935000 usd
CY2022Q2 cmft Financing Receivable Number Of Loans
FinancingReceivableNumberOfLoans
341 loan
CY2022Q2 us-gaap Financing Receivable Excluding Accrued Interest After Allowance For Credit Loss
FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss
3887304000 usd
CY2022Q2 cmft Financing Receivable Weighted Average Risk Rating
FinancingReceivableWeightedAverageRiskRating
3.0
CY2022Q2 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
-69000 usd
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
-62000 usd
CY2021Q2 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
-71000 usd
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
-3200000 usd
CY2022Q2 us-gaap Interest Rate Cash Flow Hedge Gain Loss To Be Reclassified During Next12 Months Net
InterestRateCashFlowHedgeGainLossToBeReclassifiedDuringNext12MonthsNet
-203000 usd
CY2022Q2 us-gaap Long Term Debt
LongTermDebt
4200000000 usd
cmft Debt Instrument Weighted Average Yearsto Maturity1
DebtInstrumentWeightedAverageYearstoMaturity1
P3Y2M12D
CY2022Q2 us-gaap Debt Weighted Average Interest Rate
DebtWeightedAverageInterestRate
0.033
CY2021Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
4171424000 usd
cmft Proceeds From Issuance Of Debtand Non Cash Assumptionof Debt
ProceedsFromIssuanceOfDebtandNonCashAssumptionofDebt
1615858000 usd
cmft Debt Repayments And Modifications
DebtRepaymentsAndModifications
1540630000 usd
CY2022Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
4246652000 usd
CY2021Q4 us-gaap Long Term Debt
LongTermDebt
4143205000 usd
us-gaap Proceeds From Debt Net Of Issuance Costs
ProceedsFromDebtNetOfIssuanceCosts
1613121000 usd
cmft Repayments Extinguishmentand Assumptionsof Debt Net
RepaymentsExtinguishmentandAssumptionsofDebtNet
1532767000 usd
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
3508000 usd
CY2022Q2 us-gaap Long Term Debt
LongTermDebt
4227067000 usd
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-16200000 usd
CY2022Q2 cmft Number Of Properties Used As Collateral
NumberOfPropertiesUsedAsCollateral
168 loan
us-gaap Schedule Of Repurchase Agreements
ScheduleOfRepurchaseAgreements
<div style="margin-top:9pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table is a summary of the Repurchase Facilities as of June 30, 2022 (dollar amounts in thousands): </span></div><div style="margin-top:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:13.373%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.384%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.426%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.384%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.087%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:2.577%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.204%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.384%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.204%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:2.285%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:18.198%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.384%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.210%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Repurchase Facility</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Date of Agreement</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Maturity Date</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Maximum Facility Size</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</span></div></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Weighted Average Interest Rate</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Carrying Value of Loans Financed under Repurchase Facility</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Amount Financed</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Citibank</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">6/4/2020</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">8/17/2024</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">400,000 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3.0%</span></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(3)</span></div></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">456,225 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">329,153 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Barclays</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">9/21/2020</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">9/21/2024</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,250,000 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3.1%</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(3)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,158,109 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">912,598 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Wells Fargo</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">5/20/2021</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">5/19/2024</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">750,000 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2.9%</span></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(3)</span></div></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">881,515 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">690,810 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Deutsche Bank</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">10/8/2021</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">10/8/2022</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">300,000 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3.5%</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(4)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">186,253 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">143,023 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">J.P. Morgan</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">6/1/2022</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">7/13/2022</span></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(5)</span></div></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(5)</span></div></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2.5%</span></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(6)</span></div></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">193,075 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">75,410 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Total</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,700,000 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,875,177 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,150,994 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table></div><div style="margin-top:3pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">__________________________________</span></div><div style="margin-top:3pt;padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(1)</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:6.34pt">The repurchase facilities with Citibank, Barclays, and Wells Fargo are set to mature on various dates between May 2024 and September 2024, with up to two one-year extension options, while the repurchase facility with Deutsche Bank (“Deutsche Bank Repurchase Facility”) is set to mature on October 8, 2022, with four one-year extension options, all of which are </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">subject to certain conditions set forth in the Repurchase Agreements</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. Subsequent to </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">June 30, 2022, the Company exercised the Deutsche Bank Repurchase Facility’s first extension option, extending the date of maturity to October 8, 2023, as discussed in Note 17 — Subsequent Events.</span></div><div style="margin-top:3pt;padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(2)</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:6.34pt">During the </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">six months ended</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">June 30, 2022</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, the Company increased the repurchase facility with Barclays (the “Barclays Repurchase Facility”) and Wells Fargo (the “Wells Fargo Repurchase Facility”) to provide up to $1.25 billion and $750.0 million, respectively, in financing.</span></div><div style="margin-top:3pt;padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(3)</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:6.34pt">Advances under the repurchase agreement accrue interest at per annum rates based on the one-month LIBOR, Term SOFR (as such term is defined in the applicable Repurchase Agreement), 30-day SOFR average, or the daily compounded SOFR plus a spread ranging from 1.25% to 2.15% to be determined on a case-by-case basis between Citibank, Barclays or Wells Fargo and the CMFT Lending Subs.</span></div><div style="margin-top:3pt;padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(4)</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:6.34pt">Under the Amended and Restated Master Repurchase Agreement with Deutsche Bank, advances under the repurchase agreement may be made based on one-month Term SOFR plus a spread designated by Deutsche Bank and the interest rate used for certain existing advances under the existing Deutsche Bank Repurchase Facility may be converted from the one-month LIBOR to one-month SOFR plus a spread ranging from 1.90% to 2.75%.</span></div><div style="margin-top:3pt;padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(5)</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:6.34pt">Facilities under the Master Repurchase Agreement with J.P. Morgan carry a rolling term which is reset monthly. Such facilities carry no maximum facility size. </span></div><div style="margin-top:3pt;padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(6)</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:6.34pt">Under the Master Repurchase Agreement with J.P. Morgan, advances under the repurchase agreement may be made based on one-month Term SOFR plus a spread designated by J.P. Morgan ranging from 1.20% to 1.35%.</span></div>
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4849162000 usd

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