Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.19.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash flows from operating activities    
Net income (loss) $ 13,708 $ (1,228)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 1,136 1,116
Amortization of deferred financing costs 1,673 2,615
Equity-based compensation 3,578 1,845
Equity method investments 2,024 9,052
Non-cash gain on securitization (6,610) (7,256)
Changes in receivables held-for-sale 0 3,243
Changes in accounts payable and accrued expenses (8,241) (866)
Other (3,815) (3,174)
Net cash provided by (used in) operating activities 3,453 5,347
Cash flows from investing activities    
Equity method investments (10,448) 0
Equity method distributions received 20,530 23,387
Purchases of receivables (22,430) (3,441)
Proceeds from sales of receivables 26,919 0
Principal collections from receivables 21,345 10,275
Purchases of investments (6,809) (3,826)
Principal collections from investments 1,325 744
Funding of escrow accounts (11,869) (9,655)
Withdrawal from escrow accounts 7,945 8,647
Other 69 (297)
Net cash provided by (used in) investing activities 26,577 25,834
Cash flows from financing activities    
Proceeds from credit facilities 26,500 0
Principal payments on credit facilities (1,925) 0
Proceeds from issuance of non-recourse debt 13,923 30,952
Principal payments on non-recourse debt (35,180) (28,787)
Payments on deferred funding obligations (5,759) (16,993)
Net proceeds of common stock issuances 46,388 0
Payments of dividends and distributions (20,518) (17,606)
Other (6,671) (367)
Net cash provided by (used in) financing activities 16,758 (32,801)
Increase (decrease) in cash, cash equivalents, and restricted cash 46,788 (1,620)
Cash, cash equivalents, and restricted cash at beginning of period 59,353 118,177
Cash, cash equivalents, and restricted cash at end of period 106,141 116,557
Interest paid 14,882 17,427
Non-cash changes in residual assets (investing activity) $ (6,636) $ (7,761)