2022 Q3 Form 10-Q Financial Statement

#000163047222000007 Filed on August 02, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $76.86M $66.65M $61.04M
YoY Change 27.93% 7.38% 4.8%
Cost Of Revenue $7.474M $12.68M $7.349M
YoY Change 7.09% 86.25% 11.01%
Gross Profit $69.39M $53.97M $53.69M
YoY Change 30.66% -2.34% 4.0%
Gross Profit Margin 90.28% 80.97% 87.96%
Selling, General & Admin $2.129M $2.277M $2.435M
YoY Change -12.13% -7.96% -2.21%
% of Gross Profit 3.07% 4.22% 4.54%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $2.129M $2.277M $2.435M
YoY Change -12.13% -7.96% -2.21%
Operating Profit $67.26M $51.69M $51.25M
YoY Change 32.71% -2.08% 4.32%
Interest Expense $45.07M $28.01M $22.50M
YoY Change -314.84% 27.21% 10.9%
% of Operating Profit 67.02% 54.18% 43.9%
Other Income/Expense, Net $9.603M $14.96M $9.784M
YoY Change 2.14% 61.14% 7.45%
Pretax Income -$114.5M -$5.316M $23.87M
YoY Change -487.27% -116.29% -27.43%
Income Tax $125.0K $118.0K $85.00K
% Of Pretax Income 0.36%
Net Earnings -$114.6M -$5.434M $23.78M
YoY Change -490.82% -116.78% -25.58%
Net Earnings / Revenue -149.11% -8.15% 38.96%
Basic Earnings Per Share -$1.52 -$0.11 $0.26
Diluted Earnings Per Share -$1.52 -$0.11 $0.25
COMMON SHARES
Basic Shares Outstanding 77.40M shares 77.19M shares 77.18M
Diluted Shares Outstanding 77.40M shares 77.19M shares 81.79M

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $236.1M $356.0M $351.6M
YoY Change -12.32% 48.49% 16.57%
Cash & Equivalents $236.1M $356.0M $351.6M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $12.79M $259.9M $872.0K
Other Receivables $35.41M $28.68M $29.56M
Total Short-Term Assets $284.3M $644.6M $382.0M
YoY Change -7.27% 136.64% 15.13%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $484.0K $789.0K $847.0K
YoY Change -27.44% -4.71% 5.88%
Total Long-Term Assets $5.379B $4.750B $5.133B
YoY Change 9.91% -3.65% 3.96%
TOTAL ASSETS
Total Short-Term Assets $284.3M $644.6M $382.0M
Total Long-Term Assets $5.379B $4.750B $5.133B
Total Assets $5.664B $5.395B $5.515B
YoY Change 8.9% 3.69% 4.66%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.906M $11.04M $6.153M
YoY Change 7.91% 92.38% 20.65%
Accrued Expenses $31.97M $22.02M $16.93M
YoY Change 103.89% 56.36% 32.25%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $56.59M $51.79M $41.78M
YoY Change 42.37% 46.61% -95.3%
LONG-TERM LIABILITIES
Long-Term Debt $4.299B $3.900B $4.004B
YoY Change 15.73% 4.59% 38.01%
Other Long-Term Liabilities $1.653M $1.064M $1.784M
YoY Change 76.98% -19.45% 4.94%
Total Long-Term Liabilities $4.301B $3.901B $4.005B
YoY Change 15.74% 4.58% 37.99%
TOTAL LIABILITIES
Total Short-Term Liabilities $56.59M $51.79M $41.78M
Total Long-Term Liabilities $4.301B $3.901B $4.005B
Total Liabilities $4.357B $3.953B $4.047B
YoY Change 16.02% 4.98% 6.76%
SHAREHOLDERS EQUITY
Retained Earnings -$409.1M -$272.6M -$245.3M
YoY Change 0.28%
Common Stock $77.00K $77.00K $77.00K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.306B $1.442B $1.468B
YoY Change
Total Liabilities & Shareholders Equity $5.664B $5.395B $5.515B
YoY Change 8.9% 3.69% 4.66%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income -$114.6M -$5.434M $23.78M
YoY Change -490.82% -116.78% -25.58%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $17.47M $32.46M $32.62M
YoY Change -51.43% -6.63% 23.83%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$511.3M $100.2M -$205.8M
YoY Change -1747.26% -133.27% 230.36%
Cash From Investing Activities -$511.3M $100.2M -$205.8M
YoY Change -1747.26% -133.27% 230.13%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 373.6M -128.3M 264.6M
YoY Change -1092.51% -162.71% 1310.77%
NET CHANGE
Cash From Operating Activities 17.47M 32.46M 32.62M
Cash From Investing Activities -511.3M 100.2M -205.8M
Cash From Financing Activities 373.6M -128.3M 264.6M
Net Change In Cash -120.2M 4.364M 91.38M
YoY Change -509.43% -107.05% -629.77%
FREE CASH FLOW
Cash From Operating Activities $17.47M $32.46M $32.62M
Capital Expenditures
Free Cash Flow
YoY Change

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CY2021Q2 us-gaap Net Income Loss
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us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Net Income Loss
NetIncomeLoss
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CY2021Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
32391000 usd
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
18347000 usd
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
64347000 usd
CY2021Q4 us-gaap Stockholders Equity
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CY2022Q1 us-gaap Stock Issued During Period Value New Issues
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CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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1266000 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
23781000 usd
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3148000 usd
CY2022Q1 us-gaap Common Stock Dividends Per Share Declared
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0.24
CY2022Q1 us-gaap Dividends Common Stock
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CY2022Q1 us-gaap Stockholders Equity
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CY2022Q2 us-gaap Stock Issued During Period Value New Issues
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CY2022Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1328000 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-5434000 usd
CY2022Q2 us-gaap Dividends Preferred Stock
DividendsPreferredStock
3148000 usd
CY2022Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.24
CY2022Q2 us-gaap Dividends Common Stock
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18726000 usd
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
1441928000 usd
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
1266900000 usd
CY2021Q1 us-gaap Stock Issued During Period Value New Issues
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CY2021Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1456000 usd
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
31955000 usd
CY2021Q1 us-gaap Dividends Preferred Stock
DividendsPreferredStock
6124000 usd
CY2021Q1 us-gaap Preferred Stock Accretion Of Redemption Discount
PreferredStockAccretionOfRedemptionDiscount
1452000 usd
CY2021Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.20
CY2021Q1 us-gaap Dividends Common Stock
DividendsCommonStock
15507000 usd
CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
1277228000 usd
CY2021Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
0 usd
CY2021Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.20
CY2021Q2 trtx Stock Issued During Period Value Preferred Stock
StockIssuedDuringPeriodValuePreferredStock
201250000 usd
CY2021Q2 trtx Adjustments To Additional Paid In Capital Stock Issued Issuance Costs Reversal
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCostsReversal
6866000 usd
CY2021Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1393000 usd
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
32391000 usd
CY2021Q2 us-gaap Dividends Preferred Stock
DividendsPreferredStock
6214000 usd
CY2021Q2 us-gaap Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
22485000 usd
CY2021Q2 us-gaap Preferred Stock Accretion Of Redemption Discount
PreferredStockAccretionOfRedemptionDiscount
23997000 usd
CY2021Q2 us-gaap Dividends Common Stock
DividendsCommonStock
15509000 usd
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
1437191000 usd
us-gaap Profit Loss
ProfitLoss
18347000 usd
us-gaap Profit Loss
ProfitLoss
64347000 usd
trtx Amortization And Accretion Of Premiums Discounts And Loan Origination Fees Net
AmortizationAndAccretionOfPremiumsDiscountsAndLoanOriginationFeesNet
3627000 usd
trtx Amortization And Accretion Of Premiums Discounts And Loan Origination Fees Net
AmortizationAndAccretionOfPremiumsDiscountsAndLoanOriginationFeesNet
3775000 usd
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
7400000 usd
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
7644000 usd
trtx Decrease Increase Of Accrued Capitalized Interest
DecreaseIncreaseOfAccruedCapitalizedInterest
-613000 usd
trtx Decrease Increase Of Accrued Capitalized Interest
DecreaseIncreaseOfAccruedCapitalizedInterest
-548000 usd
us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
13291000 usd
us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
0 usd
us-gaap Gain Loss On Sales Of Loans Net
GainLossOnSalesOfLoansNet
0 usd
us-gaap Gain Loss On Sales Of Loans Net
GainLossOnSalesOfLoansNet
-1626000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
2594000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
2849000 usd
us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
47174000 usd
us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
-7515000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-50000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-30000 usd
us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
2260000 usd
us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
2051000 usd
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
757000 usd
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-4716000 usd
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
1577000 usd
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
146000 usd
us-gaap Increase Decrease In Due To Affiliates
IncreaseDecreaseInDueToAffiliates
5430000 usd
us-gaap Increase Decrease In Due To Affiliates
IncreaseDecreaseInDueToAffiliates
167000 usd
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-302000 usd
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-97000 usd
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-611000 usd
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-1857000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
65073000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
61060000 usd
us-gaap Payments For Proceeds From Loans Receivable
PaymentsForProceedsFromLoansReceivable
535053000 usd
us-gaap Payments For Proceeds From Loans Receivable
PaymentsForProceedsFromLoansReceivable
631408000 usd
trtx Payments For Advances On Loans Held For Investment
PaymentsForAdvancesOnLoansHeldForInvestment
58558000 usd
trtx Payments For Advances On Loans Held For Investment
PaymentsForAdvancesOnLoansHeldForInvestment
73136000 usd
us-gaap Proceeds From Principal Repayments On Loans And Leases Held For Investment
ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment
414118000 usd
us-gaap Proceeds From Principal Repayments On Loans And Leases Held For Investment
ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment
282583000 usd
us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
73913000 usd
us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
0 usd
us-gaap Proceeds From Sale Of Loans Held For Investment
ProceedsFromSaleOfLoansHeldForInvestment
0 usd
us-gaap Proceeds From Sale Of Loans Held For Investment
ProceedsFromSaleOfLoansHeldForInvestment
58374000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-105580000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-363587000 usd
us-gaap Repayments Of First Mortgage Bond
RepaymentsOfFirstMortgageBond
811100000 usd
us-gaap Repayments Of First Mortgage Bond
RepaymentsOfFirstMortgageBond
36373000 usd
us-gaap Proceeds From Issuance Of First Mortgage Bond
ProceedsFromIssuanceOfFirstMortgageBond
907031000 usd
us-gaap Proceeds From Issuance Of First Mortgage Bond
ProceedsFromIssuanceOfFirstMortgageBond
1037500000 usd
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
871970000 usd
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
868083000 usd
us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
847479000 usd
us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
208435000 usd
us-gaap Proceeds From Issuance Of Other Long Term Debt
ProceedsFromIssuanceOfOtherLongTermDebt
124202000 usd
us-gaap Proceeds From Issuance Of Other Long Term Debt
ProceedsFromIssuanceOfOtherLongTermDebt
0 usd
trtx Payment For Proceeds From Financing Costs
PaymentForProceedsFromFinancingCosts
10242000 usd
trtx Payment For Proceeds From Financing Costs
PaymentForProceedsFromFinancingCosts
8119000 usd
us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
0 usd
us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
201250000 usd
trtx Payment For Preferred Stock Redemption Make Whole Payment
PaymentForPreferredStockRedemptionMakeWholePayment
0 usd
trtx Payment For Preferred Stock Redemption Make Whole Payment
PaymentForPreferredStockRedemptionMakeWholePayment
22485000 usd
trtx Payment Of Equity Issuance Shelf Registration And Equity Distribution Agreement Transaction Costs
PaymentOfEquityIssuanceShelfRegistrationAndEquityDistributionAgreementTransactionCosts
0 usd
trtx Payment Of Equity Issuance Shelf Registration And Equity Distribution Agreement Transaction Costs
PaymentOfEquityIssuanceShelfRegistrationAndEquityDistributionAgreementTransactionCosts
6360000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
136251000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
223429000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
95744000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-79098000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
261039000 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
319669000 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
356783000 usd
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
240571000 usd
us-gaap Interest Paid Net
InterestPaidNet
41604000 usd
us-gaap Interest Paid Net
InterestPaidNet
34526000 usd
us-gaap Income Taxes Paid
IncomeTaxesPaid
125000 usd
us-gaap Income Taxes Paid
IncomeTaxesPaid
973000 usd
trtx Collateralized Loan Obligation Proceeds Held At Trustee
CollateralizedLoanObligationProceedsHeldAtTrustee
130704000 usd
trtx Collateralized Loan Obligation Proceeds Held At Trustee
CollateralizedLoanObligationProceedsHeldAtTrustee
0 usd
CY2022Q2 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
18726000 usd
CY2021Q2 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
15500000 usd
trtx Principal Repayments Of Loans Held For Investment Held By Servicer Trustee Net
PrincipalRepaymentsOfLoansHeldForInvestmentHeldByServicerTrusteeNet
259595000 usd
trtx Principal Repayments Of Loans Held For Investment Held By Servicer Trustee Net
PrincipalRepaymentsOfLoansHeldForInvestmentHeldByServicerTrusteeNet
55872000 usd
trtx Accrued Stock Issuance Costs
AccruedStockIssuanceCosts
0 usd
trtx Accrued Stock Issuance Costs
AccruedStockIssuanceCosts
506000 usd
us-gaap Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction
DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction
388000 usd
us-gaap Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction
DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction
587000 usd
us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-top:12pt;text-align:justify"><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:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of the consolidated financial statements in conformity with GAAP requires estimates of assets, liabilities, revenues, expenses and disclosure of contingent assets and liabilities at the date of the consolidated financial statements. Actual results could differ from management’s estimates, and such differences could be material. Significant estimates made in the consolidated financial statements include, but are not limited to, the adequacy of our allowance for credit losses and the valuation inputs related thereto and the valuation of financial instruments. Actual amounts and values as of the balance sheet dates may be materially different from the amounts and values reported due to the inherent uncertainty in the estimation process and the limited availability of observable pricing inputs due to the nature of transitional mortgage loans. Also, future amounts and values could differ materially from those estimates due to changes in values and circumstances after the balance sheet date and the limited availability of observable prices.</span></div>
us-gaap Financing Receivable Allowance For Credit Losses Policy For Uncollectible Amounts
FinancingReceivableAllowanceForCreditLossesPolicyForUncollectibleAmounts
<div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Credit Losses</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Allowance for Credit Losses for Loans Held for Investment</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company accounts for its allowance for credit losses on loans held for investment using the Current Expected Credit Loss model of ASC Topic 326, Financial Instruments-Credit Losses (“ASC 326”). Periodic changes to the CECL reserve are recognized through net income on the Company’s consolidated statements of income and comprehensive income. The allowance for credit losses measured under the CECL accounting framework represents an estimate of current expected losses for the Company’s existing portfolio of loans held for investment, and is presented as a valuation reserve on the Company’s consolidated balance sheets. Expected credit losses related to non-cancelable unfunded loan commitments are accounted for as separate liabilities included in accrued expenses and other liabilities on the consolidated balance sheets. The allowance for credit losses for loans held for investment, as reported in the Company’s consolidated balance sheets, is adjusted by a credit loss benefit (expense), which is reported in earnings in the consolidated statements of income and comprehensive income and reduced by the charge-off of loan amounts, net of recoveries and additions related to purchased credit-deteriorated (“PCD”) assets, if relevant. The allowance for credit losses includes a modeled component and an individually-assessed component. The Company has elected to not measure an allowance for credit losses on accrued interest receivables related to all of its loans held for investment because it writes off uncollectible accrued interest receivable in a timely manner pursuant to its non-accrual policy, described above.</span></div><div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company considers key credit quality indicators in underwriting loans and estimating credit losses, including but not limited to: the capitalization of borrowers and sponsors; the expertise of the borrowers and sponsors in a particular real estate sector and geographic market; collateral type; geographic region; use and occupancy of the property; property market value; loan-to-value (“LTV”) ratio; loan amount and lien position; debt service coverage ratio; the Company’s risk rating for the same and similar loans; and prior experience with the borrower and sponsor. This information is used to assess the financial and operating capability, experience and profitability of the sponsor/borrower. Ultimate repayment of the Company’s loans is sensitive to interest rate changes, general economic conditions, liquidity, LTV ratio, existence of a liquid investment sales market for commercial properties, and availability of replacement short-term or long-term financing. The loans in the Company’s commercial mortgage loan portfolio are secured by collateral of the following property types: office; life science; multifamily; hotel; industrial; mixed-use; land for industrial and office use; condominium; and retail.</span></div><div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company’s loans are typically collateralized by real estate, or in the case of mezzanine loans, by a partnership interest or similar equity interest in an entity that owns real estate. The Company regularly evaluates on a loan-by-loan basis, typically no less frequently than quarterly, the extent and impact of any credit deterioration associated with the performance and/or value of the underlying collateral property, and the financial and operating capability of the borrower/sponsor. The Company also evaluates the financial strength of loan guarantors, if any, and the borrower’s competency in managing and operating the property or properties. In addition, the Company considers the overall economic environment, real estate sector, and geographic sub-market in which the borrower operates. Such analyses are completed and reviewed by asset management personnel and evaluated by senior management, who utilize various data sources, including, to the extent available (i) periodic financial data such as property occupancy, tenant profile, rental rates, operating expenses, the borrower’s exit plan, and capitalization and discount rates, (ii) site inspections, (iii) sales and financing comparables, (iv) current credit spreads for refinancing and (v) other market data.</span></div><div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Quarterly, the Company evaluates the risk of all loans and assigns a risk rating based on a variety of factors, grouped as follows: (i) loan and credit structure, including the as-is LTV structural features; (ii) quality and stability of real estate value and operating cash flow, including debt yield, property type, dynamics of the geography, local market, physical condition, stability of cash flow, leasing velocity and quality and diversity of tenancy; (iii) performance against underwritten business plan; (iv) the frequency and materiality of loan modifications or waivers occasioned by unfavorable variances between the underwritten business plan and actual performance; (v) changes in the capital markets that may impact the refinancing or sale of the loan; and (vi) quality, experience and financial condition of sponsor, borrower and guarantor(s). Based on a 5-point scale, the Company’s loans are rated “1” through “5,” from least risk to greatest risk, respectively, which ratings are defined as follows:</span></div><div style="margin-top:6pt;padding-left:54pt;text-align:justify;text-indent:-27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1 -</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:16.17pt">Outperform—Exceeds performance metrics (for example, technical milestones, occupancy, rents, net operating income) included in original or current credit underwriting and business plan; </span></div><div style="margin-top:6pt;padding-left:54pt;text-align:justify;text-indent:-27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2 -</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:16.17pt">Meets or Exceeds Expectations—Collateral performance meets or exceeds substantially all performance metrics included in original or current underwriting / business plan; </span></div><div style="margin-top:6pt;padding-left:54pt;text-align:justify;text-indent:-27pt"><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:16.17pt">Satisfactory—Collateral performance meets or is on track to meet underwriting; business plan is met or can reasonably be achieved; </span></div><div style="margin-top:6pt;padding-left:54pt;text-align:justify;text-indent:-27pt"><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:16.17pt">Underperformance—Collateral performance falls short of original underwriting, material differences exist from business plan, or both; technical milestones have been missed; defaults may exist, or may soon occur absent material improvement; and </span></div><div style="margin-top:6pt;padding-left:54pt;text-align:justify;text-indent:-27pt"><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:16.17pt">Default/Possibility of Loss—Collateral performance is significantly worse than underwriting; major variance from business plan; loan covenants or technical milestones have been breached; the loan is in default or substantially in default; timely exit from loan via sale or refinancing is questionable; significant risk of principal loss.</span></div><div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company generally assigns a risk rating of “3” to all loan investments upon origination, except in the case of specific circumstances warranting an exception.</span></div><div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company’s CECL reserve also reflects its estimates of the current and future economic conditions that impact the performance of the commercial real estate assets securing the Company’s loans. These estimates include unemployment rates, inflation rates, interest rates, price indices for commercial property, current and expected future availability of liquidity in the commercial property debt and equity capital markets, and other macroeconomic factors that may influence the likelihood and magnitude of potential credit losses for the Company’s loans during their anticipated term. The Company licenses certain macroeconomic financial forecasts to inform its view of the potential future impact that broader economic conditions may have on its loan portfolio’s performance. Selection of the economic forecast or forecasts used, in conjunction with loan level inputs, to determine the CECL reserve requires significant judgment about future events that, while based on the information available to the Company as of the balance sheet date, are ultimately unknowable with certainty. The actual economic conditions impacting the Company’s portfolio could vary significantly from the estimates the Company made for the periods presented.</span></div><div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The key inputs to the Company's estimation of its allowance for credit losses as of June 30, 2022 were impacted by dislocations in the capital markets, increased interest rates, accelerating inflationary trends, a heightened risk of recession, and geopolitical conflicts. Inherent uncertainty in the estimation process and the limited availability of observable pricing inputs due to the nature of transitional mortgage loans also constrain the Company's ability to estimate key inputs utilized to calculate its allowance for credit losses. Key inputs to the estimate include, but are not limited to: LTV; debt service coverage ratio; current and future operating cash flow and performance of collateral properties; the financial strength and liquidity of borrowers and sponsors; capitalization rates and discount rates used to value commercial real estate properties; and market liquidity based on market indices or observable transactions involving the sale or financing of commercial properties. Estimates made by the Company are subject to change. Actual results could differ from management’s estimates, and such differences could be material.</span></div>
CY2022Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
356000000 usd
CY2022Q2 us-gaap Restricted Cash
RestrictedCash
800000 usd
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
260600000 usd
trtx Percentage Of Senior Mortgage Loan Transferred To Third Party
PercentageOfSeniorMortgageLoanTransferredToThirdParty
1
CY2022Q2 us-gaap Cash
Cash
17300000 usd
CY2021Q4 us-gaap Cash
Cash
15000000 usd
CY2022Q2 trtx Maximum Insured Amount Of Each Cash Account
MaximumInsuredAmountOfEachCashAccount
250000 usd
CY2021Q4 trtx Maximum Insured Amount Of Each Cash Account
MaximumInsuredAmountOfEachCashAccount
250000 usd
CY2021Q4 us-gaap Restricted Cash
RestrictedCash
400000 usd
CY2022Q2 trtx Number Of Non Consolidated Senior Interest
NumberOfNonConsolidatedSeniorInterest
1 loan
CY2021Q4 trtx Number Of Non Consolidated Senior Interest
NumberOfNonConsolidatedSeniorInterest
1 loan
CY2022Q2 trtx Loan Commitment Non Consolidated Senior Interest Outstanding
LoanCommitmentNonConsolidatedSeniorInterestOutstanding
132000000 usd
CY2021Q4 trtx Loan Commitment Non Consolidated Senior Interest Outstanding
LoanCommitmentNonConsolidatedSeniorInterestOutstanding
132000000 usd
us-gaap Paid In Kind Interest
PaidInKindInterest
2400000 usd
CY2021 us-gaap Paid In Kind Interest
PaidInKindInterest
3000000 usd
CY2022Q2 trtx Percentage Of Loans Subject To Yield Maintenance Or Other Prepayment Restrictions
PercentageOfLoansSubjectToYieldMaintenanceOrOtherPrepaymentRestrictions
0.433
CY2022Q2 trtx Percentage Of Loans Open To Repayment By Borrower Without Penalty
PercentageOfLoansOpenToRepaymentByBorrowerWithoutPenalty
0.567
CY2022Q2 us-gaap Financing Receivable Before Allowance For Credit Loss And Fee
FinancingReceivableBeforeAllowanceForCreditLossAndFee
4710161000 usd
CY2022Q2 us-gaap Unamortized Loan Commitment And Origination Fees And Unamortized Discounts Or Premiums
UnamortizedLoanCommitmentAndOriginationFeesAndUnamortizedDiscountsOrPremiums
-8751000 usd
CY2022Q2 us-gaap Notes Receivable Gross
NotesReceivableGross
4701410000 usd
CY2022Q2 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
84156000 usd
CY2022Q2 us-gaap Notes Receivable Net
NotesReceivableNet
4617254000 usd
CY2021Q4 us-gaap Financing Receivable Before Allowance For Credit Loss And Fee
FinancingReceivableBeforeAllowanceForCreditLossAndFee
4919343000 usd
CY2021Q4 us-gaap Unamortized Loan Commitment And Origination Fees And Unamortized Discounts Or Premiums
UnamortizedLoanCommitmentAndOriginationFeesAndUnamortizedDiscountsOrPremiums
-10141000 usd
CY2021Q4 us-gaap Notes Receivable Gross
NotesReceivableGross
4909202000 usd
CY2021Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
41999000 usd
CY2021Q4 us-gaap Notes Receivable Net
NotesReceivableNet
4867203000 usd
CY2021Q4 us-gaap Mortgage Loans On Real Estate
MortgageLoansOnRealEstate
4867203000 usd
us-gaap Mortgage Loans On Real Estate New Mortgage Loans
MortgageLoansOnRealEstateNewMortgageLoans
535053000 usd
us-gaap Mortgage Loans On Real Estate Other Additions
MortgageLoansOnRealEstateOtherAdditions
58558000 usd
trtx Mortgage Loans On Real Estate Amortization Of Origination Fees
MortgageLoansOnRealEstateAmortizationOfOriginationFees
3627000 usd
srt Mortgage Loans On Real Estate Collections Of Principal
MortgageLoansOnRealEstateCollectionsOfPrincipal
804417000 usd
trtx Mortgage Loans On Real Estate Collection Of Accrued Paid In Kind Interest
MortgageLoansOnRealEstateCollectionOfAccruedPaidInKindInterest
613000 usd
trtx Mortgage Loans On Real Estate Change In Allowance For Credit Losses
MortgageLoansOnRealEstateChangeInAllowanceForCreditLosses
-42157000 usd
CY2022Q2 us-gaap Mortgage Loans On Real Estate
MortgageLoansOnRealEstate
4617254000 usd
CY2022Q2 us-gaap Financing Receivable Unamortized Loan Fee Cost
FinancingReceivableUnamortizedLoanFeeCost
8800000 usd
CY2021Q4 us-gaap Financing Receivable Unamortized Loan Fee Cost
FinancingReceivableUnamortizedLoanFeeCost
10100000 usd
CY2021Q4 us-gaap Financing Receivable Unamortized Purchase Premium Discount
FinancingReceivableUnamortizedPurchasePremiumDiscount
0 usd
CY2022Q2 us-gaap Financing Receivable Unamortized Purchase Premium Discount
FinancingReceivableUnamortizedPurchasePremiumDiscount
0 usd
CY2022Q2 us-gaap Financing Receivable Originated In Current Fiscal Year
FinancingReceivableOriginatedInCurrentFiscalYear
539935000 usd
CY2022Q2 us-gaap Financing Receivable Originated In Fiscal Year Before Latest Fiscal Year
FinancingReceivableOriginatedInFiscalYearBeforeLatestFiscalYear
1609875000 usd
CY2022Q2 us-gaap Financing Receivable Originated Two Years Before Latest Fiscal Year
FinancingReceivableOriginatedTwoYearsBeforeLatestFiscalYear
176677000 usd
CY2022Q2 us-gaap Financing Receivable Originated Three Years Before Latest Fiscal Year
FinancingReceivableOriginatedThreeYearsBeforeLatestFiscalYear
1373448000 usd
CY2022Q2 us-gaap Financing Receivable Originated Four Years Before Latest Fiscal Year
FinancingReceivableOriginatedFourYearsBeforeLatestFiscalYear
594717000 usd
CY2022Q2 us-gaap Financing Receivable Originated Five Or More Years Before Latest Fiscal Year
FinancingReceivableOriginatedFiveOrMoreYearsBeforeLatestFiscalYear
406758000 usd
CY2022Q2 us-gaap Notes Receivable Gross
NotesReceivableGross
4701410000 usd
CY2021Q4 us-gaap Financing Receivable Originated In Current Fiscal Year
FinancingReceivableOriginatedInCurrentFiscalYear
1634280000 usd
CY2021Q4 us-gaap Financing Receivable Originated In Fiscal Year Before Latest Fiscal Year
FinancingReceivableOriginatedInFiscalYearBeforeLatestFiscalYear
173871000 usd
CY2021Q4 us-gaap Financing Receivable Originated Two Years Before Latest Fiscal Year
FinancingReceivableOriginatedTwoYearsBeforeLatestFiscalYear
1672184000 usd
CY2021Q4 us-gaap Financing Receivable Originated Three Years Before Latest Fiscal Year
FinancingReceivableOriginatedThreeYearsBeforeLatestFiscalYear
856873000 usd
CY2021Q4 us-gaap Financing Receivable Originated Four Years Before Latest Fiscal Year
FinancingReceivableOriginatedFourYearsBeforeLatestFiscalYear
554831000 usd
CY2021Q4 us-gaap Financing Receivable Originated Five Or More Years Before Latest Fiscal Year
FinancingReceivableOriginatedFiveOrMoreYearsBeforeLatestFiscalYear
17163000 usd
CY2021Q4 us-gaap Notes Receivable Gross
NotesReceivableGross
4909202000 usd
CY2022Q2 us-gaap Notes Receivable Gross
NotesReceivableGross
4701410000 usd
CY2021Q4 us-gaap Notes Receivable Gross
NotesReceivableGross
4909202000 usd
CY2022Q2 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
84156000 usd
CY2021Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
41999000 usd
CY2022Q2 us-gaap Notes Receivable Net
NotesReceivableNet
4617254000 usd
CY2021Q4 us-gaap Notes Receivable Net
NotesReceivableNet
4867203000 usd
CY2022Q2 trtx Weighted Average Risk Rating
WeightedAverageRiskRating
3.2 rating
CY2021Q4 trtx Weighted Average Risk Rating
WeightedAverageRiskRating
3.0 rating
CY2022Q2 trtx Weighted Average Risk Rating
WeightedAverageRiskRating
3.2 rating
CY2021Q4 trtx Weighted Average Risk Rating
WeightedAverageRiskRating
3.0 rating
CY2022Q2 trtx Financing Receivable Allowance For Credit Losses Loans Held For Investment And Unfunded Loan Commitment
FinancingReceivableAllowanceForCreditLossesLoansHeldForInvestmentAndUnfundedLoanCommitment
93383000 usd
CY2021Q2 trtx Financing Receivable Allowance For Credit Losses Loans Held For Investment And Unfunded Loan Commitment
FinancingReceivableAllowanceForCreditLossesLoansHeldForInvestmentAndUnfundedLoanCommitment
55312000 usd
CY2022Q2 trtx Financing Receivable Allowance For Credit Losses Loans Held For Investment And Unfunded Loan Commitment
FinancingReceivableAllowanceForCreditLossesLoansHeldForInvestmentAndUnfundedLoanCommitment
93383000 usd
CY2021Q2 trtx Financing Receivable Allowance For Credit Losses Loans Held For Investment And Unfunded Loan Commitment
FinancingReceivableAllowanceForCreditLossesLoansHeldForInvestmentAndUnfundedLoanCommitment
55312000 usd
CY2022Q2 us-gaap Financing Receivable Allowance For Credit Losses Period Increase Decrease
FinancingReceivableAllowanceForCreditLossesPeriodIncreaseDecrease
42300000 usd
CY2022Q2 trtx Number Of Loan Repayments
NumberOfLoanRepayments
7 loan
us-gaap Financing Receivable Allowance For Credit Losses Period Increase Decrease
FinancingReceivableAllowanceForCreditLossesPeriodIncreaseDecrease
47200000 usd
CY2022Q2 trtx Financing Receivable Allowance For Credit Losses Loans Held For Investment And Unfunded Loan Commitment
FinancingReceivableAllowanceForCreditLossesLoansHeldForInvestmentAndUnfundedLoanCommitment
93400000 usd
trtx Financing Receivable Allowance For Credit Loss Increase Decrease Increased Loan Origination
FinancingReceivableAllowanceForCreditLossIncreaseDecreaseIncreasedLoanOrigination
535100000 usd
trtx Financing Receivable Allowance For Credit Loss Increase Decrease Increased Repayments
FinancingReceivableAllowanceForCreditLossIncreaseDecreaseIncreasedRepayments
804400000 usd
CY2022Q2 trtx Number Of Loans Not On Non Accrual Status
NumberOfLoansNotOnNonAccrualStatus
1 loan
us-gaap Financing Receivable Allowance For Credit Losses Period Increase Decrease
FinancingReceivableAllowanceForCreditLossesPeriodIncreaseDecrease
-7500000 usd
CY2021Q2 trtx Financing Receivable Allowance For Credit Losses Loans Held For Investment And Unfunded Loan Commitment
FinancingReceivableAllowanceForCreditLossesLoansHeldForInvestmentAndUnfundedLoanCommitment
55300000 usd
trtx Financing Receivable Allowance For Credit Loss Increase Decrease Increased Loan Origination
FinancingReceivableAllowanceForCreditLossIncreaseDecreaseIncreasedLoanOrigination
631400000 usd
trtx Allowance For Credit Losses Increase Decrease Due To Increased Sales
AllowanceForCreditLossesIncreaseDecreaseDueToIncreasedSales
60700000 usd
trtx Financing Receivable Allowance For Credit Loss Increase Decrease Increased Repayments
FinancingReceivableAllowanceForCreditLossIncreaseDecreaseIncreasedRepayments
339300000 usd
CY2021Q4 trtx Paid In Kind Interest Outstanding
PaidInKindInterestOutstanding
3028000 usd
CY2022Q1 trtx Paid In Kind Interest Accrued
PaidInKindInterestAccrued
0 usd
CY2022Q1 trtx Paid In Kind Interest Repayment
PaidInKindInterestRepayment
313000 usd
CY2022Q1 trtx Paid In Kind Interest Outstanding
PaidInKindInterestOutstanding
2715000 usd
CY2022Q2 trtx Paid In Kind Interest Accrued
PaidInKindInterestAccrued
0 usd
CY2022Q2 trtx Paid In Kind Interest Repayment
PaidInKindInterestRepayment
300000 usd
CY2022Q2 trtx Write Off Of Accrued Pik Interest
WriteOffOfAccruedPIKInterest
0 usd
CY2022Q2 trtx Paid In Kind Interest Outstanding
PaidInKindInterestOutstanding
2415000 usd
trtx Paid In Kind Interest Accrued
PaidInKindInterestAccrued
0 usd
CY2022Q2 trtx Loans Accrued Interest Income
LoansAccruedInterestIncome
0 usd
CY2021Q4 trtx Loans Accrued Interest Income
LoansAccruedInterestIncome
0 usd
CY2022Q2 us-gaap Notes Receivable Gross
NotesReceivableGross
4701410000 usd
CY2021Q4 us-gaap Notes Receivable Gross
NotesReceivableGross
4909202000 usd
CY2022Q2 trtx Capital Loss Carry Forward Used To Offset Gains
CapitalLossCarryForwardUsedToOffsetGains
13300000 usd
CY2022Q2 us-gaap Deferred Tax Assets Capital Loss Carryforwards
DeferredTaxAssetsCapitalLossCarryforwards
187600000 usd
CY2022Q2 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
12600000 usd
CY2021Q4 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
10300000 usd
CY2022Q2 trtx Other Loan Held For Investment Net
OtherLoanHeldForInvestmentNet
1600000 usd
CY2022Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
3917842000 usd
CY2021Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
3722199000 usd
CY2022Q2 trtx Number Of Loan Investments
NumberOfLoanInvestments
2 loan
CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
465421000 usd
CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
560246000 usd
CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
870937000 usd
CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
562520000 usd
CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
517287000 usd
CY2022Q2 trtx Long Term Debt Maturities Repayments Of Principal After Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFour
941431000 usd
CY2022Q2 us-gaap Long Term Debt
LongTermDebt
3917842000 usd
CY2022Q2 us-gaap Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
239900000 usd
CY2021Q4 us-gaap Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
199300000 usd
us-gaap Unrecognized Tax Benefits Interest On Income Taxes Expense
UnrecognizedTaxBenefitsInterestOnIncomeTaxesExpense
0 usd
CY2022Q2 trtx Threshold Period Of Delinquency To Consider Loan Nonperforming And Place On Nonaccrual Status
ThresholdPeriodOfDelinquencyToConsiderLoanNonperformingAndPlaceOnNonaccrualStatus
P90D
CY2022Q2 trtx Loans Held For Investment Fair Value Disclosure Nonrecurring
LoansHeldForInvestmentFairValueDisclosureNonrecurring
4600000000 usd
CY2021Q4 trtx Loans Held For Investment Fair Value Disclosure Nonrecurring
LoansHeldForInvestmentFairValueDisclosureNonrecurring
4900000000 usd
CY2022Q2 trtx Loans Held For Investment Weighted Average Gross Credit Spread
LoansHeldForInvestmentWeightedAverageGrossCreditSpread
0.0344
CY2021Q4 trtx Loans Held For Investment Weighted Average Gross Credit Spread
LoansHeldForInvestmentWeightedAverageGrossCreditSpread
0.0339
trtx Loans Held For Investment Weighted Average Maturity Period
LoansHeldForInvestmentWeightedAverageMaturityPeriod
P2Y8M12D
CY2021 trtx Loans Held For Investment Weighted Average Maturity Period
LoansHeldForInvestmentWeightedAverageMaturityPeriod
P2Y9M18D
CY2022Q2 trtx Fair Value Of Assets And Liabilities Transfers Amount
FairValueOfAssetsAndLiabilitiesTransfersAmount
0 usd
trtx Fair Value Of Assets And Liabilities Transfers Amount
FairValueOfAssetsAndLiabilitiesTransfersAmount
0 usd
CY2022Q2 trtx Excise Tax Percentage
ExciseTaxPercentage
1
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
0 usd
CY2022Q2 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
0 usd
us-gaap Unrecognized Tax Benefits Interest On Income Taxes Expense
UnrecognizedTaxBenefitsInterestOnIncomeTaxesExpense
0 usd
CY2022Q2 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Expense
UnrecognizedTaxBenefitsInterestOnIncomeTaxesExpense
0 usd
CY2021Q2 us-gaap Unrecognized Tax Benefits Income Tax Penalties Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesExpense
0 usd
CY2022Q2 us-gaap Current Federal State And Local Tax Expense Benefit
CurrentFederalStateAndLocalTaxExpenseBenefit
100000 usd
CY2021Q2 us-gaap Current Federal State And Local Tax Expense Benefit
CurrentFederalStateAndLocalTaxExpenseBenefit
200000 usd
us-gaap Current Federal State And Local Tax Expense Benefit
CurrentFederalStateAndLocalTaxExpenseBenefit
200000 usd
us-gaap Current Federal State And Local Tax Expense Benefit
CurrentFederalStateAndLocalTaxExpenseBenefit
1200000 usd
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.003
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.018
CY2022Q2 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
13300000 usd
CY2022Q2 trtx Remaining Capital Loss Carry Forwards
RemainingCapitalLossCarryForwards
174300000 usd
trtx Incentive Management Fee Percentage Of Core Earnings Less Seven Percent Of Stockholders Equity
IncentiveManagementFeePercentageOfCoreEarningsLessSevenPercentOfStockholdersEquity
0.20
CY2022Q2 trtx Management Fees And Incentive Management Fees Incurred
ManagementFeesAndIncentiveManagementFeesIncurred
11039000 usd
CY2021Q2 trtx Management Fees And Incentive Management Fees Incurred
ManagementFeesAndIncentiveManagementFeesIncurred
5344000 usd
trtx Management Fees And Incentive Management Fees Incurred
ManagementFeesAndIncentiveManagementFeesIncurred
16748000 usd
trtx Management Fees And Incentive Management Fees Incurred
ManagementFeesAndIncentiveManagementFeesIncurred
10437000 usd
CY2022Q2 trtx Management Fees And Incentive Management Fees Paid
ManagementFeesAndIncentiveManagementFeesPaid
5709000 usd
CY2021Q2 trtx Management Fees And Incentive Management Fees Paid
ManagementFeesAndIncentiveManagementFeesPaid
5094000 usd
trtx Management Fees And Incentive Management Fees Paid
ManagementFeesAndIncentiveManagementFeesPaid
11318000 usd
trtx Management Fees And Incentive Management Fees Paid
ManagementFeesAndIncentiveManagementFeesPaid
10452000 usd
CY2022Q2 us-gaap Dividends Common Stock Stock
DividendsCommonStockStock
200000 usd
CY2022Q2 us-gaap Undistributed Earnings Loss Available To Common Shareholders Basic
UndistributedEarningsLossAvailableToCommonShareholdersBasic
200000 usd
CY2021Q2 us-gaap Undistributed Earnings Loss Available To Common Shareholders Basic
UndistributedEarningsLossAvailableToCommonShareholdersBasic
100000 usd
CY2021Q2 us-gaap Dividends Common Stock Stock
DividendsCommonStockStock
100000 usd
us-gaap Dividends Common Stock Stock
DividendsCommonStockStock
400000 usd
us-gaap Undistributed Earnings Loss Available To Common Shareholders Basic
UndistributedEarningsLossAvailableToCommonShareholdersBasic
400000 usd
us-gaap Dividends Common Stock Stock
DividendsCommonStockStock
300000 usd
us-gaap Undistributed Earnings Loss Available To Common Shareholders Basic
UndistributedEarningsLossAvailableToCommonShareholdersBasic
300000 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-5434000 usd
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
32391000 usd
us-gaap Net Income Loss
NetIncomeLoss
18347000 usd
us-gaap Net Income Loss
NetIncomeLoss
64347000 usd
CY2022Q2 trtx Dividends Preferred Stock Paid And Accrued
DividendsPreferredStockPaidAndAccrued
3148000 usd
CY2021Q2 trtx Dividends Preferred Stock Paid And Accrued
DividendsPreferredStockPaidAndAccrued
6799000 usd
trtx Dividends Preferred Stock Paid And Accrued
DividendsPreferredStockPaidAndAccrued
6296000 usd
trtx Dividends Preferred Stock Paid And Accrued
DividendsPreferredStockPaidAndAccrued
12923000 usd
CY2022Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
226000 usd
CY2021Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
148000 usd
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
423000 usd
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
294000 usd
CY2022Q2 trtx Preferred Stock Redemption Make Whole Payment
PreferredStockRedemptionMakeWholePayment
0 usd
CY2021Q2 trtx Preferred Stock Redemption Make Whole Payment
PreferredStockRedemptionMakeWholePayment
22485000 usd
trtx Preferred Stock Redemption Make Whole Payment
PreferredStockRedemptionMakeWholePayment
0 usd
trtx Preferred Stock Redemption Make Whole Payment
PreferredStockRedemptionMakeWholePayment
22485000 usd
CY2022Q2 trtx Write Off Of Unamortized Discount Including Unamortized Amounts Related To Allocated Warrant Fair Value And Transaction Costs
WriteOffOfUnamortizedDiscountIncludingUnamortizedAmountsRelatedToAllocatedWarrantFairValueAndTransactionCosts
0 usd
CY2021Q2 trtx Write Off Of Unamortized Discount Including Unamortized Amounts Related To Allocated Warrant Fair Value And Transaction Costs
WriteOffOfUnamortizedDiscountIncludingUnamortizedAmountsRelatedToAllocatedWarrantFairValueAndTransactionCosts
23997000 usd
trtx Write Off Of Unamortized Discount Including Unamortized Amounts Related To Allocated Warrant Fair Value And Transaction Costs
WriteOffOfUnamortizedDiscountIncludingUnamortizedAmountsRelatedToAllocatedWarrantFairValueAndTransactionCosts
0 usd
trtx Write Off Of Unamortized Discount Including Unamortized Amounts Related To Allocated Warrant Fair Value And Transaction Costs
WriteOffOfUnamortizedDiscountIncludingUnamortizedAmountsRelatedToAllocatedWarrantFairValueAndTransactionCosts
25449000 usd
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.11
CY2022Q2 us-gaap Undistributed Earnings
UndistributedEarnings
-8808000 usd
CY2021Q2 us-gaap Undistributed Earnings
UndistributedEarnings
-21038000 usd
us-gaap Undistributed Earnings
UndistributedEarnings
11628000 usd
us-gaap Undistributed Earnings
UndistributedEarnings
3196000 usd
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
77188291 shares
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
76899270 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
77186136 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
76897453 shares
CY2022Q2 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
0 shares
CY2021Q2 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
0 shares
us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
4049470 shares
us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
4433898 shares
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
77188291 shares
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
76899270 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
81235606 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
81331351 shares
CY2021Q4 trtx Unfunded Commitments Loans Held For Investment
UnfundedCommitmentsLoansHeldForInvestment
487800000 usd
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.27
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.15
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.04
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.11
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.27
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.14
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.04
CY2020Q2 trtx Number Of Tranches
NumberOfTranches
3 tranche
CY2022Q2 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
18700000 usd
CY2022Q2 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
15500000 usd
CY2022Q2 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
18700000 usd
CY2021Q4 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
24200000 usd
CY2022Q2 trtx Dividends Common Stock Paidinkind Shares
DividendsCommonStockPaidinkindShares
2507 shares
trtx Dividends Common Stock Paidinkind Shares
DividendsCommonStockPaidinkindShares
4460 shares
CY2022Q2 trtx Unfunded Commitments Loans Held For Investment
UnfundedCommitmentsLoansHeldForInvestment
470900000 usd
CY2022Q2 trtx Loan Commitment Capitalized Interest Costs
LoanCommitmentCapitalizedInterestCosts
2400000 usd
CY2021Q4 trtx Loan Commitment Capitalized Interest Costs
LoanCommitmentCapitalizedInterestCosts
3000000 usd
trtx Commitment Related To Non Performing Retail Loan Held For Investment
CommitmentRelatedToNonPerformingRetailLoanHeldForInvestment
7800000 usd
CY2022Q2 us-gaap Financing Receivable Before Allowance For Credit Loss And Fee
FinancingReceivableBeforeAllowanceForCreditLossAndFee
4710161000 usd
CY2022Q2 trtx Loan Commitment Principal Amount
LoanCommitmentPrincipalAmount
5186472000 usd
CY2022Q2 trtx Unfunded Commitments Related To Loans Receivable
UnfundedCommitmentsRelatedToLoansReceivable
470869000 usd
CY2022Q2 trtx Percentage Of Loan Commitment Principal Amount
PercentageOfLoanCommitmentPrincipalAmount
1.000
CY2022Q2 us-gaap Financing Receivable Before Allowance For Credit Loss And Fee
FinancingReceivableBeforeAllowanceForCreditLossAndFee
4710161000 usd
CY2022Q2 trtx Percentage Of Loans And Leases Receivable Unpaid Principal Balance
PercentageOfLoansAndLeasesReceivableUnpaidPrincipalBalance
1.000
CY2021Q4 trtx Loan Commitment Principal Amount
LoanCommitmentPrincipalAmount
5411944000 usd
CY2021Q4 trtx Unfunded Commitments Related To Loans Receivable
UnfundedCommitmentsRelatedToLoansReceivable
487773000 usd
CY2021Q4 trtx Percentage Of Loan Commitment Principal Amount
PercentageOfLoanCommitmentPrincipalAmount
1.000
CY2021Q4 us-gaap Financing Receivable Before Allowance For Credit Loss And Fee
FinancingReceivableBeforeAllowanceForCreditLossAndFee
4919343000 usd
CY2021Q4 trtx Percentage Of Loans And Leases Receivable Unpaid Principal Balance
PercentageOfLoansAndLeasesReceivableUnpaidPrincipalBalance
1.000
CY2022Q2 trtx Loan Commitment Principal Amount
LoanCommitmentPrincipalAmount
5186472000 usd
CY2022Q2 trtx Unfunded Commitments Related To Loans Receivable
UnfundedCommitmentsRelatedToLoansReceivable
470869000 usd
CY2022Q2 trtx Percentage Of Loan Commitment Principal Amount
PercentageOfLoanCommitmentPrincipalAmount
1.000
CY2021Q4 trtx Percentage Of Loan Commitment Principal Amount
PercentageOfLoanCommitmentPrincipalAmount
1.000
CY2022Q2 trtx Percentage Of Loans And Leases Receivable Unpaid Principal Balance
PercentageOfLoansAndLeasesReceivableUnpaidPrincipalBalance
1.000
CY2021Q4 trtx Loan Commitment Principal Amount
LoanCommitmentPrincipalAmount
5411944000 usd
CY2021Q4 trtx Unfunded Commitments Related To Loans Receivable
UnfundedCommitmentsRelatedToLoansReceivable
487773000 usd
CY2021Q4 trtx Percentage Of Loan Commitment Principal Amount
PercentageOfLoanCommitmentPrincipalAmount
1.000
CY2021Q4 us-gaap Financing Receivable Before Allowance For Credit Loss And Fee
FinancingReceivableBeforeAllowanceForCreditLossAndFee
4919343000 usd
CY2021Q4 trtx Percentage Of Loans And Leases Receivable Unpaid Principal Balance
PercentageOfLoansAndLeasesReceivableUnpaidPrincipalBalance
1.000
CY2022Q2 trtx Loan Commitment Capitalized Interest Costs
LoanCommitmentCapitalizedInterestCosts
2400000 usd
CY2021Q4 trtx Loan Commitment Capitalized Interest Costs
LoanCommitmentCapitalizedInterestCosts
3000000 usd
CY2021 trtx Commitment Related To Non Performing Retail Loan Held For Investment
CommitmentRelatedToNonPerformingRetailLoanHeldForInvestment
7800000 usd
trtx Commitment Related To Non Performing Retail Loan Held For Investment
CommitmentRelatedToNonPerformingRetailLoanHeldForInvestment
7800000 usd
CY2022Q2 trtx Loan Commitment Principal Amount
LoanCommitmentPrincipalAmount
5186472000 usd
CY2022Q2 trtx Unfunded Commitments Related To Loans Receivable
UnfundedCommitmentsRelatedToLoansReceivable
470869000 usd
CY2022Q2 trtx Percentage Of Loan Commitment Principal Amount
PercentageOfLoanCommitmentPrincipalAmount
1.000
CY2022Q2 us-gaap Financing Receivable Before Allowance For Credit Loss And Fee
FinancingReceivableBeforeAllowanceForCreditLossAndFee
4710161000 usd
CY2022Q2 trtx Percentage Of Loans And Leases Receivable Unpaid Principal Balance
PercentageOfLoansAndLeasesReceivableUnpaidPrincipalBalance
1.000
CY2021Q4 trtx Loan Commitment Principal Amount
LoanCommitmentPrincipalAmount
5411944000 usd
CY2021Q4 trtx Unfunded Commitments Related To Loans Receivable
UnfundedCommitmentsRelatedToLoansReceivable
487773000 usd
CY2021Q4 us-gaap Financing Receivable Before Allowance For Credit Loss And Fee
FinancingReceivableBeforeAllowanceForCreditLossAndFee
4919343000 usd
CY2021Q4 trtx Percentage Of Loans And Leases Receivable Unpaid Principal Balance
PercentageOfLoansAndLeasesReceivableUnpaidPrincipalBalance
1.000
CY2022Q2 trtx Loan Commitment Capitalized Interest Costs
LoanCommitmentCapitalizedInterestCosts
2400000 usd
CY2021Q4 trtx Loan Commitment Capitalized Interest Costs
LoanCommitmentCapitalizedInterestCosts
3000000 usd
trtx Commitment Related To Non Performing Retail Loan Held For Investment
CommitmentRelatedToNonPerformingRetailLoanHeldForInvestment
7800000 usd
CY2021 trtx Commitment Related To Non Performing Retail Loan Held For Investment
CommitmentRelatedToNonPerformingRetailLoanHeldForInvestment
7800000 usd

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