2020 Q1 Form 10-K Financial Statement

#000163159621000013 Filed on February 16, 2021

View on sec.gov

Income Statement

Concept 2020 Q1 2020 2019 Q4
Revenue $69.54M $270.5M $74.19M
YoY Change 4.26% -3.5% 21.76%
Cost Of Revenue $39.08M $127.3M $41.33M
YoY Change 12.17% -19.89% 28.39%
Gross Profit $30.46M $143.2M $32.86M
YoY Change -4.39% 17.86% 14.34%
Gross Profit Margin 43.8% 52.94% 44.29%
Selling, General & Admin $8.280M $31.50M $8.130M
YoY Change 22.12% 1.94% 6.83%
% of Gross Profit 27.18% 22.0% 24.74%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $9.680M $38.10M $8.130M
YoY Change 27.35% 23.19% 6.83%
Operating Profit $20.78M $105.1M $24.73M
YoY Change -14.34% 16.04% 17.04%
Interest Expense $39.08M $127.3M $41.33M
YoY Change 12.17% -19.86% 28.4%
% of Operating Profit 188.08% 121.13% 167.14%
Other Income/Expense, Net -$1.541M $1.281M $1.772M
YoY Change -179.07% -78.64% 35.27%
Pretax Income -$34.49M $54.81M $24.73M
YoY Change -242.19% -39.47% 17.01%
Income Tax $82.00K $412.0K $213.0K
% Of Pretax Income 0.75% 0.86%
Net Earnings -$34.57M $54.40M $24.51M
YoY Change -242.58% -39.54% 14.4%
Net Earnings / Revenue -49.72% 20.11% 33.04%
Basic Earnings Per Share -$0.61 $0.96 $0.43
Diluted Earnings Per Share -$0.61 $0.96 $0.43
COMMON SHARES
Basic Shares Outstanding 57.35M shares 55.99M shares 57.49M shares
Diluted Shares Outstanding 57.35M shares 56.06M shares 57.60M shares

Balance Sheet

Concept 2020 Q1 2020 2019 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $369.9M $110.8M $67.60M
YoY Change 61.95% 63.91% -21.85%
Cash & Equivalents $369.9M $110.8M $67.62M
Short-Term Investments
Other Short-Term Assets $500.0K
YoY Change
Inventory
Prepaid Expenses
Receivables $17.30M $15.40M $16.30M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $387.2M $126.7M $83.90M
YoY Change 58.82% 51.01% -18.31%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $34.40M $33.70M $37.50M
YoY Change 5.2% -10.13% 22.15%
Other Assets $3.100M $2.500M $2.400M
YoY Change 4.17% 14.29%
Total Long-Term Assets $5.068B $4.839B $4.973B
YoY Change 4.5% -2.7% -3.04%
TOTAL ASSETS
Total Short-Term Assets $387.2M $126.7M $83.90M
Total Long-Term Assets $5.068B $4.839B $4.973B
Total Assets $5.456B $4.966B $5.057B
YoY Change 7.1% -1.81% -3.34%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.400M $1.700M $3.400M
YoY Change 25.58% -50.0% -24.44%
Accrued Expenses $11.00M $8.500M $6.700M
YoY Change -99.02% 26.87% -99.38%
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 $45.60M $40.70M $41.10M
YoY Change -96.07% -0.97% -96.34%
LONG-TERM LIABILITIES
Long-Term Debt $4.378B $3.880B $3.892B
YoY Change 56.23% -0.33% 30.86%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $4.378B $3.880B $3.892B
YoY Change 56.23% -0.33% 30.86%
TOTAL LIABILITIES
Total Short-Term Liabilities $45.60M $40.70M $41.10M
Total Long-Term Liabilities $4.378B $3.880B $3.892B
Total Liabilities $4.423B $3.920B $3.933B
YoY Change 11.61% -0.33% -3.99%
SHAREHOLDERS EQUITY
Retained Earnings -$8.594M -$8.594M
YoY Change 2958.36% 3719.56%
Common Stock $575.0K $575.0K
YoY Change 0.17% -0.17%
Preferred Stock
YoY Change
Treasury Stock (at cost) $55.20M $35.96M
YoY Change 53.52% 12.88%
Treasury Stock Shares
Shareholders Equity $1.030B $1.045B $1.122B
YoY Change
Total Liabilities & Shareholders Equity $5.456B $4.966B $5.057B
YoY Change 7.1% -1.81% -3.34%

Cashflow Statement

Concept 2020 Q1 2020 2019 Q4
OPERATING ACTIVITIES
Net Income -$34.57M $54.40M $24.51M
YoY Change -242.58% -39.54% 14.4%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $27.38M $115.1M $23.50M
YoY Change 6.89% 25.46% 21.13%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$154.6M $88.70M $151.6M
YoY Change -165.37% -109.58% -120.91%
Cash From Investing Activities -$154.6M $88.71M $151.6M
YoY Change -165.37% -109.58% -120.91%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $23.25M $25.06M
YoY Change 466.29% 510.35%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $429.5M -$160.6M -181.9M
YoY Change -457.27% -119.68% -130.34%
NET CHANGE
Cash From Operating Activities $27.38M $115.1M 23.50M
Cash From Investing Activities -$154.6M $88.71M 151.6M
Cash From Financing Activities $429.5M -$160.6M -181.9M
Net Change In Cash $302.2M $43.21M -6.800M
YoY Change 112.99% -328.5% -93.6%
FREE CASH FLOW
Cash From Operating Activities $27.38M $115.1M $23.50M
Capital Expenditures
Free Cash Flow
YoY Change

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AccretionOfDeferredLoanCostsAndDiscounts
17222000 USD
CY2019 kref Accretion Of Deferred Loan Costs And Discounts
AccretionOfDeferredLoanCostsAndDiscounts
20217000 USD
CY2018 kref Accretion Of Deferred Loan Costs And Discounts
AccretionOfDeferredLoanCostsAndDiscounts
10524000 USD
CY2020 us-gaap Paid In Kind Interest
PaidInKindInterest
-4232000 USD
CY2019 us-gaap Paid In Kind Interest
PaidInKindInterest
0 USD
CY2018 us-gaap Paid In Kind Interest
PaidInKindInterest
0 USD
CY2020 kref Variable Interest Entities Changein Noncash Assets
VariableInterestEntitiesChangeinNoncashAssets
0 USD
CY2019 kref Variable Interest Entities Changein Noncash Assets
VariableInterestEntitiesChangeinNoncashAssets
0 USD
CY2018 kref Variable Interest Entities Changein Noncash Assets
VariableInterestEntitiesChangeinNoncashAssets
2564000 USD
CY2020 us-gaap Gain Loss On Sale Of Investments
GainLossOnSaleOfInvestments
0 USD
CY2019 us-gaap Gain Loss On Sale Of Investments
GainLossOnSaleOfInvestments
-2688000 USD
CY2018 us-gaap Gain Loss On Sale Of Investments
GainLossOnSaleOfInvestments
13000000 USD
CY2020 kref Increase Decreasein Equity Method Investments
IncreaseDecreaseinEquityMethodInvestments
-2840000 USD
CY2019 kref Increase Decreasein Equity Method Investments
IncreaseDecreaseinEquityMethodInvestments
1420000 USD
CY2018 kref Increase Decreasein Equity Method Investments
IncreaseDecreaseinEquityMethodInvestments
1406000 USD
CY2020 us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
50344000 USD
CY2019 us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
0 USD
CY2018 us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
0 USD
CY2020 us-gaap Share Based Compensation
ShareBasedCompensation
5676000 USD
CY2019 us-gaap Share Based Compensation
ShareBasedCompensation
4091000 USD
CY2018 us-gaap Share Based Compensation
ShareBasedCompensation
1973000 USD
CY2020 us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
-893000 USD
CY2019 us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
-61000 USD
CY2018 us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
6914000 USD
CY2020 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
337000 USD
CY2019 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-321000 USD
CY2018 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
1708000 USD
CY2020 us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
-1303000 USD
CY2019 us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
-830000 USD
CY2018 us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
5893000 USD
CY2020 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
2029000 USD
CY2019 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
122000 USD
CY2018 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
2786000 USD
CY2020 us-gaap Increase Decrease In Due To Affiliates
IncreaseDecreaseInDueToAffiliates
-350000 USD
CY2019 us-gaap Increase Decrease In Due To Affiliates
IncreaseDecreaseInDueToAffiliates
167000 USD
CY2018 us-gaap Increase Decrease In Due To Affiliates
IncreaseDecreaseInDueToAffiliates
-1231000 USD
CY2020 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
115062000 USD
CY2019 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
91713000 USD
CY2018 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
76830000 USD
CY2020 us-gaap Proceeds From Sale Of Equity Method Investments
ProceedsFromSaleOfEquityMethodInvestments
0 USD
CY2019 us-gaap Proceeds From Sale Of Equity Method Investments
ProceedsFromSaleOfEquityMethodInvestments
9784000 USD
CY2018 us-gaap Proceeds From Sale Of Equity Method Investments
ProceedsFromSaleOfEquityMethodInvestments
112747000 USD
CY2020 us-gaap Proceeds From Principal Repayments On Loans And Leases Held For Investment
ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment
1054891000 USD
CY2019 us-gaap Proceeds From Principal Repayments On Loans And Leases Held For Investment
ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment
1934893000 USD
CY2018 us-gaap Proceeds From Principal Repayments On Loans And Leases Held For Investment
ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment
446336000 USD
CY2020 us-gaap Payments To Acquire Loans Held For Investment
PaymentsToAcquireLoansHeldForInvestment
966182000 USD
CY2019 us-gaap Payments To Acquire Loans Held For Investment
PaymentsToAcquireLoansHeldForInvestment
2864810000 USD
CY2018 us-gaap Payments To Acquire Loans Held For Investment
PaymentsToAcquireLoansHeldForInvestment
2540685000 USD
CY2020 us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
0 USD
CY2019 us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
6245000 USD
CY2018 us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
15611000 USD
CY2020 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
0 USD
CY2019 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
94007000 USD
CY2018 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
0 USD
CY2020 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
0 USD
CY2019 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
94071000 USD
CY2018 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
0 USD
CY2020 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
88709000 USD
CY2019 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-926314000 USD
CY2018 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1997213000 USD
CY2020 us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
1015430000 USD
CY2019 us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
3217859000 USD
CY2018 us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
2311140000 USD
CY2020 kref Proceeds From Issuance Of Collateralized Loan Obligation
ProceedsFromIssuanceOfCollateralizedLoanObligation
0 USD
CY2019 kref Proceeds From Issuance Of Collateralized Loan Obligation
ProceedsFromIssuanceOfCollateralizedLoanObligation
0 USD
CY2018 kref Proceeds From Issuance Of Collateralized Loan Obligation
ProceedsFromIssuanceOfCollateralizedLoanObligation
810000000 USD
CY2020 us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
292500000 USD
CY2019 us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
0 USD
CY2018 us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
0 USD
CY2020 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
0 USD
CY2019 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
0 USD
CY2018 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
139438000 USD
CY2020 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 USD
CY2019 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 USD
CY2018 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
109500000 USD
CY2020 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
96451000 USD
CY2019 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
98954000 USD
CY2018 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
88847000 USD
CY2020 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
634000 USD
CY2019 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
592000 USD
CY2018 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
386000 USD
CY2020 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
1332822000 USD
CY2019 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
2284819000 USD
CY2018 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
1314812000 USD
CY2020 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
12066000 USD
CY2019 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
12060000 USD
CY2018 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
26418000 USD
CY2020 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
157000 USD
CY2019 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
1254000 USD
CY2018 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
1324000 USD
CY2020 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
0 USD
CY2019 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
0 USD
CY2018 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
3153000 USD
CY2020 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
25061000 USD
CY2019 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
4106000 USD
CY2018 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
31347000 USD
CY2020 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1297000 USD
CY2019 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
385000 USD
CY2018 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
397000 USD
CY2020 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-160558000 USD
CY2019 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
815689000 USD
CY2018 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1903394000 USD
CY2020 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
43213000 USD
CY2019 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-18912000 USD
CY2018 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-16989000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
67619000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
86531000 USD
CY2017Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
103520000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
110832000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
67619000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
86531000 USD
CY2020 us-gaap Interest Paid Net
InterestPaidNet
103405000 USD
CY2019 us-gaap Interest Paid Net
InterestPaidNet
146156000 USD
CY2018 us-gaap Interest Paid Net
InterestPaidNet
66775000 USD
CY2020 us-gaap Income Taxes Paid
IncomeTaxesPaid
124000 USD
CY2019 us-gaap Income Taxes Paid
IncomeTaxesPaid
398000 USD
CY2018 us-gaap Income Taxes Paid
IncomeTaxesPaid
755000 USD
CY2020 kref Loan Principal Payments Held By Servicer
LoanPrincipalPaymentsHeldByServicer
15850000 USD
CY2019 kref Loan Principal Payments Held By Servicer
LoanPrincipalPaymentsHeldByServicer
0 USD
CY2018 kref Loan Principal Payments Held By Servicer
LoanPrincipalPaymentsHeldByServicer
0 USD
CY2020 us-gaap Dividends
Dividends
24287000 USD
CY2019 us-gaap Dividends
Dividends
25036000 USD
CY2020 kref Participating Mortgage Loans Sold Additional Funding
ParticipatingMortgageLoansSoldAdditionalFunding
0 USD
CY2018 us-gaap Dividends
Dividends
25097000 USD
CY2019 kref Participating Mortgage Loans Sold Additional Funding
ParticipatingMortgageLoansSoldAdditionalFunding
150880000 USD
CY2018 kref Participating Mortgage Loans Sold Additional Funding
ParticipatingMortgageLoansSoldAdditionalFunding
0 USD
CY2020 kref Deconsolidation Of Variable Interest Entities
DeconsolidationOfVariableInterestEntities
0 USD
CY2019 kref Deconsolidation Of Variable Interest Entities
DeconsolidationOfVariableInterestEntities
1047346000 USD
CY2018 kref Deconsolidation Of Variable Interest Entities
DeconsolidationOfVariableInterestEntities
4048378000 USD
CY2020 us-gaap Use Of Estimates
UseOfEstimates
<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><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">— The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Management makes subjective estimates to project cash flows KREF expects to receive on its investments in loans and securities as well as the related market discount rates, which significantly impacts the interest income, impairments, allowance for loan loss and fair values recorded or disclosed. The effects of COVID-19 may negatively and materially impact significant estimates and assumptions used by the Company including, but not limited to estimates of expected credit losses, valuation of our equity method investments and the fair value estimates of the Company’s assets and liabilities</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">. </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Actual results could materially differ from those estimates.</span>
CY2020Q4 kref Debt Instrument Covenant Liquidity Required Cashand Cash Equivalents
DebtInstrumentCovenantLiquidityRequiredCashandCashEquivalents
42600000 USD
CY2019Q4 us-gaap Deposits
Deposits
700000 USD
CY2019Q4 kref Debt Instrument Covenant Liquidity Required Cashand Cash Equivalents
DebtInstrumentCovenantLiquidityRequiredCashandCashEquivalents
33400000 USD
CY2020Q1 us-gaap Notes Receivable Gross
NotesReceivableGross
4931042000 USD
CY2020Q1 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
0 USD
CY2020Q1 us-gaap Notes Receivable Net
NotesReceivableNet
4931042000 USD
CY2020Q1 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
3363000 USD
CY2020Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-8594000 USD
CY2020Q4 us-gaap Settlement Assets Current
SettlementAssetsCurrent
15900000 USD
CY2020Q4 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
500000 USD
CY2020Q4 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
3100000 USD
CY2020Q4 us-gaap Off Balance Sheet Credit Loss Liability
OffBalanceSheetCreditLossLiability
900000 USD
CY2020Q4 us-gaap Deposits
Deposits
800000 USD
CY2019Q4 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
2700000 USD
CY2020Q4 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.43
CY2020Q4 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
115100000 USD
CY2019 kref Prepayment Penalties
PrepaymentPenalties
900000 USD
CY2020 kref Prepayment Penalties
PrepaymentPenalties
0.0 USD
CY2020 kref Net Accelerated Fees
NetAcceleratedFees
1800000 USD
CY2019 kref Net Accelerated Fees
NetAcceleratedFees
4700000 USD
CY2020Q4 kref Weighted Average Loan Risk Rating
WeightedAverageLoanRiskRating
3.1
CY2019Q4 kref Weighted Average Loan Risk Rating
WeightedAverageLoanRiskRating
2.9
CY2019Q4 kref Weighted Average Loan Risk Rating
WeightedAverageLoanRiskRating
2.9
CY2020Q4 kref Weighted Average Loan Risk Rating
WeightedAverageLoanRiskRating
3.1
CY2020Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
5600000 USD
CY2019Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
9500000 USD
CY2020Q4 kref Debt Instrument Average Haircut Weightedby Outstanding Face Amountof Collateral
DebtInstrumentAverageHaircutWeightedbyOutstandingFaceAmountofCollateral
0.367
CY2019Q4 kref Debt Instrument Average Haircut Weightedby Outstanding Face Amountof Collateral
DebtInstrumentAverageHaircutWeightedbyOutstandingFaceAmountofCollateral
0.274
CY2020Q4 kref Debt Instrument Average Haircut Weightedby Outstanding Face Amountof Collateral Percentageif Maximum Amountis Borrowed
DebtInstrumentAverageHaircutWeightedbyOutstandingFaceAmountofCollateralPercentageifMaximumAmountisBorrowed
0.348
CY2019Q4 kref Debt Instrument Average Haircut Weightedby Outstanding Face Amountof Collateral Percentageif Maximum Amountis Borrowed
DebtInstrumentAverageHaircutWeightedbyOutstandingFaceAmountofCollateralPercentageifMaximumAmountisBorrowed
0.257
CY2020Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
895728000 USD
CY2020Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
1076188000 USD
CY2020Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
387083000 USD
CY2020Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
222325000 USD
CY2020Q4 kref Long Term Debt Maturity After Year Four
LongTermDebtMaturityAfterYearFour
0 USD
CY2020Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
2581324000 USD
CY2020 kref Debt Instrument Covenant Interest Incometo Interest Expense Ratio
DebtInstrumentCovenantInterestIncometoInterestExpenseRatio
1.5
CY2020 kref Debt Instrument Covenant Consolidated Tangible Net Worth Minimum Percentageof Aggregate Cash Proceeds Madeand Capital Contributions Received
DebtInstrumentCovenantConsolidatedTangibleNetWorthMinimumPercentageofAggregateCashProceedsMadeandCapitalContributionsReceived
0.750
CY2020 kref Debt Instrument Covenant Consolidated Tangible Net Worth Amountof Aggregate Cash Proceeds Madeand Capital Contributions Received
DebtInstrumentCovenantConsolidatedTangibleNetWorthAmountofAggregateCashProceedsMadeandCapitalContributionsReceived
880200000 USD
CY2020 kref Debt Instrument Covenant Cash Liquidity Amount
DebtInstrumentCovenantCashLiquidityAmount
10000000.0 USD
CY2020 kref Debt Instrument Covenant Cash Liquidity Percentof Recourse Indebtedness
DebtInstrumentCovenantCashLiquidityPercentofRecourseIndebtedness
0.050
CY2020 kref Debt Instrument Covenant Total Indebtedness Percentof Total Assets
DebtInstrumentCovenantTotalIndebtednessPercentofTotalAssets
0.750
CY2020Q3 kref Debt Instrument Covenant Senior Recourse Debt Percent Of Total Assets
DebtInstrumentCovenantSeniorRecourseDebtPercentOfTotalAssets
0.80
CY2020Q3 kref Debt Instrument Covenant Recourse Debt Percent Of Total Assets
DebtInstrumentCovenantRecourseDebtPercentOfTotalAssets
0.82
CY2018Q4 kref Collateralized Loan Obligations Reinvestment Feature Term
CollateralizedLoanObligationsReinvestmentFeatureTerm
P2Y
CY2018Q4 kref Collateralized Loan Obligations Reinvestment Feature Term
CollateralizedLoanObligationsReinvestmentFeatureTerm
P2Y
CY2020Q4 kref Collateral Assets Under Collateralized Loan Obligations As A Percentage Of Commercial Mortgage Loans
CollateralAssetsUnderCollateralizedLoanObligationsAsAPercentageOfCommercialMortgageLoans
0.205
CY2019Q4 kref Collateral Assets Under Collateralized Loan Obligations As A Percentage Of Commercial Mortgage Loans
CollateralAssetsUnderCollateralizedLoanObligationsAsAPercentageOfCommercialMortgageLoans
0.202
CY2020Q4 kref Percentage Of Collateralized Loan Obligations Under Floating Rate Loans
PercentageOfCollateralizedLoanObligationsUnderFloatingRateLoans
1
CY2019Q4 kref Percentage Of Collateralized Loan Obligations Under Floating Rate Loans
PercentageOfCollateralizedLoanObligationsUnderFloatingRateLoans
1
CY2020 kref Number Of Equity Method Investments
NumberOfEquityMethodInvestments
2 investment
CY2014Q4 kref Common Stockand Preferred Stock Shares Authorized
CommonStockandPreferredStockSharesAuthorized
350000000 shares
CY2014Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2014Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
300000000 shares
CY2014Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000 shares
CY2016Q1 kref Common Stock Value Per Limited Liability Company Interest Allocation
CommonStockValuePerLimitedLiabilityCompanyInterestAllocation
100000000.0 USD
CY2020Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
55619428 shares
CY2020Q4 us-gaap Treasury Stock Common Shares
TreasuryStockCommonShares
3900326 shares
CY2019Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
57486583 shares
CY2019Q4 us-gaap Treasury Stock Common Shares
TreasuryStockCommonShares
1862689 shares
CY2020 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
2037637 shares
CY2020 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
12.27
CY2020 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
25000000.0 USD
CY2019 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
212809 shares
CY2019 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
19.25
CY2019 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
4100000 USD
CY2020Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.43
CY2020Q1 us-gaap Dividends Common Stock
DividendsCommonStock
24010000 USD
CY2020Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.43
CY2020Q2 us-gaap Dividends Common Stock
DividendsCommonStock
23861000 USD
CY2020Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.43
CY2020Q3 us-gaap Dividends Common Stock
DividendsCommonStock
23861000 USD
CY2020Q4 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.43
CY2020Q4 us-gaap Dividends Common Stock
DividendsCommonStock
23916000 USD
CY2020 us-gaap Dividends Common Stock
DividendsCommonStock
95648000 USD
CY2019Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.43
CY2019Q1 us-gaap Dividends Common Stock
DividendsCommonStock
24761000 USD
CY2019Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.43
CY2019Q2 us-gaap Dividends Common Stock
DividendsCommonStock
24688000 USD
CY2019Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.43
CY2019Q3 us-gaap Dividends Common Stock
DividendsCommonStock
24692000 USD
CY2019Q4 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.43
CY2019Q4 us-gaap Dividends Common Stock
DividendsCommonStock
24719000 USD
CY2019 us-gaap Dividends Common Stock
DividendsCommonStock
98860000 USD
CY2020 us-gaap Net Income Loss Available To Common Stockholders Basic
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