Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.8.0.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash flows from operating activities    
Net income (loss) $ 27,628 $ 10,319
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 9,527 5,350
Equity-based compensation 8,351 7,452
Equity method investments (10,725) 570
Non-cash gain on securitization (18,136) (8,730)
Gain on sale of financing receivables and investments 1,547 (1,589)
Changes in financing receivables held-for-sale   40,560
Changes in accounts payable and accrued expenses 1,218 4,596
Other 2,048 (7,523)
Net cash provided by operating activities 21,458 51,005
Cash flows from investing activities    
Purchases of financing receivables (86,637) (223,051)
Principal collections from financing receivables 88,932 104,741
Proceeds from sales of financing receivables 79,175 35,052
Purchases of investments (15,119) (25,895)
Principal collections from investments 1,175 1,406
Proceeds from sales of investments   13,914
Purchases of real estate (142,952) (10,964)
Equity method investments (229,800) (14,165)
Equity method distributions received 57,545 41,800
Proceeds from sales of equity method investments 6,044  
Funding of escrow accounts (30,999)  
Withdrawal from escrow accounts 1,919  
Other (459) (1,070)
Net cash used in investing activities (271,176) (78,232)
Cash flows from financing activities    
Proceeds from credit facilities 277,612 270,900
Principal payments on credit facilities (386,234) (161,275)
Proceeds from issuance of non-recourse debt 428,653  
Principal payments on non-recourse debt (46,120) (56,324)
Proceeds from issuance of convertible notes 150,000  
Payments on deferred funding obligations (104,225) (56,281)
Net proceeds from issuance of common stock 98,316 91,167
Payments of dividends and distributions (50,628) (36,401)
Other (17,316) (6,123)
Net cash provided by (used in) financing activities 350,058 45,663
Increase (decrease) in cash, cash equivalents, and restricted cash 100,340 18,436
Cash, cash equivalents, and restricted cash at beginning of period 59,144 79,216
Cash, cash equivalents, and restricted cash at end of period 159,484 97,652
Interest paid 32,929 28,056
Non-cash changes in deferred funding obligations 157,851 11,861
Non-cash changes in financing receivables and investments (157,851) (25,047)
Non-cash changes in residual assets $ (18,136) $ (8,730)