Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.19.3
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities    
Net income (loss) $ 35,678 $ 32,699
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Provision for loss on receivables 8,027 0
Depreciation and amortization 2,693 3,561
Amortization of deferred financing costs 5,073 7,891
Equity-based compensation 10,385 7,881
Equity method investments 3,695 2,381
Non-cash gain on securitization (18,575) (22,349)
Gain on sale of receivables and investments 3,140 0
Changes in receivables held-for-sale 0 4,110
Changes in accounts payable and accrued expenses (4,804) 2,421
Other (13,726) (8,800)
Net cash provided by (used in) operating activities 31,586 29,795
Cash flows from investing activities    
Equity method investments (48,301) (3,756)
Equity method investment distributions received 53,485 77,196
Proceeds from sales of equity method investments 8,433 12,433
Purchases of and investments in receivables (274,472) (114,276)
Principal collections from receivables 48,900 29,332
Proceeds from sales of receivables 134,932 0
Purchases of real estate 0 (23,178)
Purchases of investments (22,242) (19,127)
Principal collections from investments 5,432 3,750
Proceeds from sales of investments and securitization assets 90,993 0
Funding of escrow accounts (28,672) (28,759)
Withdrawal from escrow accounts 29,156 29,090
Other 2,891 (736)
Net cash provided by (used in) investing activities 535 (38,031)
Cash flows from financing activities    
Proceeds from credit facilities 101,500 158,938
Principal payments on credit facilities (321,869) (2,784)
Proceeds from issuance of non-recourse debt 34,988 51,934
Principal payments on non-recourse debt (180,708) (108,747)
Proceeds from issuance of senior unsecured notes 507,313 0
Payments on deferred funding obligations (18,791) (70,373)
Net proceeds of common stock issuances 96,648 15,326
Payments of dividends and distributions (64,239) (53,063)
Other (17,319) (4,232)
Net cash provided by (used in) financing activities 137,523 (13,001)
Increase (decrease) in cash, cash equivalents, and restricted cash 169,644 (21,237)
Cash, cash equivalents, and restricted cash at beginning of period 59,353 118,177
Cash, cash equivalents, and restricted cash at end of period 228,997 96,940
Interest paid 39,884 50,880
Non-cash changes in deferred funding obligations and non-recourse debt (financing activity) (78,008) 843
Non-cash changes in receivables and investments (investing activity) 59,979 (248)
Non-cash changes in residual assets (investing activity) (21,746) (23,335)
Non-cash changes in escrow accounts (investing activity) $ 18,029 $ 0