← BrightSpire Capital, Inc.
| Annual Trend | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | — | — | — | — | — | $45.8m | ($15.5m) | ($132.0m) | ($31.1m) | |
| Net Income From Continuing Operations | — | — | — | — | — | $46.8m | ($15.6m) | ($135.5m) | ($38.8m) | |
| Depreciation and amortization | $9.1m | $91.0m | $103.2m | $59.8m | $36.4m | $34.1m | $33.5m | $40.5m | $36.3m | |
| Amortization of above (below) market lease values, net | $0 | ($44k) | ($2.9m) | ($409k) | ($98k) | ($364k) | ($127k) | $286k | $324k | |
| Amortization of premium/accretion of discount and fees on investments and borrowings, net | ($8.6m) | ($7.9m) | ($13.1m) | ($9.5m) | ($6.7m) | ($13.9m) | ($11.0m) | ($6.9m) | $2.8m | |
| Amortization of deferred financing costs | $3.6m | $4.8m | $9.7m | $12.1m | $12.3m | $10.7m | $10.7m | $8.0m | $8.2m | |
| Amortization of right-of-use lease assets and operating lease liabilities | — | $0 | $101k | $86k | $104k | $499k | $107k | $120k | ($10k) | |
| Amortization of equity-based compensation | $0 | $7.1m | $10.8m | $4.4m | $14.0m | $7.9m | $14.1m | $11.6m | $12.8m | |
| Mortgage notes (above) below market value amortization | — | — | $400k | ($666k) | $117k | $140k | ($1.5m) | $14k | ($30k) | |
| Amortization Cash Flow | — | — | — | — | ($98k) | ($364k) | — | — | — | |
| Amortization Of Intangibles | — | — | — | — | ($98k) | ($364k) | — | — | — | |
| Amortization Of Securities | — | — | — | — | — | ($13.9m) | ($11.0m) | ($6.9m) | $2.8m | |
| Depreciation Amortization Depletion | — | — | — | — | — | $34.6m | $33.6m | $40.6m | $36.3m | |
| Deferred income tax benefit | $1.7m | $28.4m | ($4.7m) | ($172k) | ($85k) | ($2.0m) | ($1.0m) | ($1.1m) | ($22.3m) | |
| Deferred Income Tax | — | — | — | — | — | ($2.0m) | ($1.0m) | ($1.1m) | ($22.3m) | |
| Deferred Tax | — | — | — | — | — | ($2.0m) | ($1.0m) | ($1.1m) | ($22.3m) | |
| Impairment of operating real estate | $0 | $31.8m | $282.7m | $42.8m | $0 | $0 | $7.6m | $53.8m | $61.6m | |
| Asset Impairment Charge | — | — | — | — | — | $0 | $7.6m | $53.8m | $61.6m | |
| Right-of-use lease assets and operating lease liabilities | — | $0 | $27.5m | ($1.4m) | $5.4m | $3.3m | $0 | $4.5m | $0 | |
| Earnings (Loss)es From Equity Investments | — | — | — | — | $131.1m | ($25k) | $0 | $0 | — | |
| Net loss | $127.9m | ($177.4m) | ($462.6m) | ($375.6m) | ($104.6m) | $46.8m | ($15.6m) | ($135.5m) | ($38.8m) | |
| Straight-line rental income | $0 | ($6.5m) | ($6.8m) | ($3.9m) | ($2.6m) | ($1.6m) | ($2.1m) | ($2.1m) | ($1.6m) | |
| Designated hedges and foreign currency translation reclassified to earnings | — | — | $0 | $0 | ($30.5m) | $0 | $0 | $0 | $3.4m | |
| Realized gain on sale of real estate, net | — | $0 | $0 | ($14.6m) | ($11.9m) | ($10.6m) | $0 | ($144k) | ($1.1m) | |
| Increase of current expected credit loss reserve | — | — | — | $78.6m | ($1.4m) | $70.9m | $108.1m | $135.8m | $24.0m | |
| Other loss, net | — | $114k | $9.7m | $23.5m | ($1.6m) | $3.6m | $1.4m | $0 | $0 | |
| Receivables, net | $0 | $11.1m | ($9.1m) | $13.2m | ($1.2m) | ($3.1m) | $1.5m | $4.5m | ($5.5m) | |
| Deferred costs and other assets | ($7.7m) | ($27.9m) | ($14.9m) | $12.9m | ($3.7m) | $5.2m | $189k | ($2.9m) | $2.4m | |
| Other liabilities | ($692k) | $14.9m | $4.6m | ($22.1m) | ($4.9m) | ($4.8m) | ($3.1m) | ($898k) | ($7.0m) | |
| Acquisition, origination and funding of loans and preferred equity held for investment, net | ($200.2m) | ($919.5m) | ($1.4b) | ($297.0m) | ($1.8b) | ($972.1m) | ($77.2m) | ($114.3m) | ($769.1m) | |
| Repayment on loans held for investment | — | — | $465.6m | $434.7m | $485.4m | $909.8m | $455.9m | $420.9m | $284.1m | |
| Proceeds from sale of real estate | $8.9m | $167.9m | $85.4m | $454.6m | $332.0m | $55.6m | $0 | $19.6m | $80.8m | |
| Acquisition of and additions to real estate and related intangibles | ($312k) | ($415.1m) | ($24.2m) | ($23.2m) | ($9.9m) | ($4.0m) | ($7.1m) | ($6.1m) | ($17.9m) | |
| Distributions in excess of cumulative earnings from unconsolidated ventures | $55.1m | $98.5m | $212.6m | $25.2m | $47.6m | $1.4m | $784k | $0 | $0 | |
| Cash relinquished in deconsolidation of subsidiaries | — | — | — | — | — | — | $0 | $0 | ($6.4m) | |
| Change in escrow deposits payable | — | — | $8.0m | ($37.7m) | $36.4m | $5.7m | $9.5m | ($8.5m) | $2.4m | |
| Distributions paid on common stock | $0 | ($185.3m) | ($217.7m) | ($51.7m) | ($51.9m) | ($99.4m) | ($104.0m) | ($99.1m) | ($83.0m) | |
| Shares canceled for tax withholding on vested stock awards | $0 | ($659k) | ($1.6m) | ($1.7m) | ($2.6m) | ($1.3m) | ($2.9m) | ($4.6m) | ($3.9m) | |
| Borrowings from mortgage notes | $72.2m | $246.4m | $93.6m | $18.6m | $7.2m | $0 | $34.5m | $0 | $0 | |
| Repayment of mortgage notes | ($342.9m) | ($141.8m) | ($8.3m) | ($240.1m) | ($266.6m) | ($85.2m) | ($33.9m) | ($16.1m) | ($5.3m) | |
| Borrowings from master repurchase and credit facilities | $0 | $1.7b | $1.4b | $298.6m | $1.3b | $771.5m | $133.1m | $297.6m | $615.0m | |
| Repayment of master repurchase and credit facilities | ($717k) | ($999.3m) | ($1.7b) | ($862.6m) | ($955.3m) | ($336.8m) | ($320.6m) | ($665.4m) | ($322.1m) | |
| Borrowing from securitization bonds | $0 | $0 | $840.4m | $0 | $670.0m | $0 | $0 | $582.6m | $0 | |
| Repayment of securitization bonds | $0 | ($108.2m) | ($81.4m) | $0 | $0 | ($337.7m) | ($258.8m) | ($403.4m) | ($112.3m) | |
| Payment of deferred financing costs | $0 | ($15.6m) | ($16.0m) | ($6.7m) | ($11.8m) | ($8.9m) | ($6.0m) | ($13.0m) | ($8.6m) | |
| Deconsolidation of assets following foreclosure (refer to Note 4) | — | — | — | — | — | — | $0 | $0 | ($264.2m) | |
| Deconsolidation of liabilities following foreclosure (refer to Note 4) | — | — | — | — | — | — | $0 | $0 | $241.3m | |
| Accrual of distribution payable | $0 | $19.0m | $13.2m | ($13.2m) | $23.9m | $25.8m | $26.0m | ($20.8m) | $20.6m | |
| Assets transferred to held for sale | — | — | — | — | — | — | $0 | $0 | $34.3m | |
| Assumption of accounts payable, accrued expenses and other liabilities related to consolidation of VIE and assumption of real estate | — | — | — | — | — | $0 | ($2.8m) | ($3.3m) | ($10.6m) | |
| Assumption of receivables and other assets related to consolidation of VIE and assumption of real estate | — | — | — | — | — | — | $0 | $3.1m | $12.6m | |
| Assumption of real estate and consolidation of VIE (refer to Note 4) | — | — | — | — | — | — | $122.5m | $72.3m | $227.0m | |
| Beginning Cash Position | — | — | — | — | — | $346.6m | $398.8m | $362.1m | $450.7m | |
| Cash Flow From Continuing Financing Activities | — | — | — | — | — | ($161.5m) | ($558.6m) | ($327.9m) | $68.9m | |
| Cash Flow From Continuing Investing Activities | — | — | — | — | — | $89.3m | $384.2m | $313.1m | ($419.9m) | |
| Change In Other Current Liabilities | — | — | — | — | — | ($4.8m) | ($3.1m) | ($898k) | ($7.0m) | |
| Change In Other Working Capital | — | — | — | — | — | $5.2m | $189k | ($2.9m) | $2.4m | |
| Change In Payables And Accrued Expense | — | — | — | — | ($10.1m) | $0 | $0 | — | — | |
| Change In Receivables | — | — | — | — | — | ($3.1m) | $1.5m | $4.5m | ($5.5m) | |
| Change In Working Capital | — | — | — | — | — | ($2.7m) | ($1.4m) | $701k | ($10.1m) | |
| Changes In Cash | — | — | — | — | — | $53.2m | ($36.8m) | $88.5m | ($278.0m) | |
| End Cash Position | — | — | — | — | — | $398.8m | $362.1m | $450.7m | $173.8m | |
| Financing Cash Flow | — | — | — | — | — | ($161.5m) | ($558.6m) | ($327.9m) | $68.9m | |
| Free Cash Flow | — | — | — | — | — | $125.3m | $137.6m | $103.4m | $73.0m | |
| Gain Loss On Investment Securities | — | — | — | — | ($7.1m) | ($9.8m) | — | ($144k) | $2.2m | |
| Gain Loss On Sale Of Business | — | — | — | — | ($25.5m) | ($21.9m) | $0 | $0 | — | |
| Investing Cash Flow | — | — | — | — | — | $89.3m | $384.2m | $313.1m | ($419.9m) | |
| Issuance Of Capital Stock | — | — | — | — | — | $0 | $0 | $16k | $0 | |
| Net Business Purchase And Sale | — | — | — | — | — | $38.1m | $0 | $0 | ($6.4m) | |
| Net Foreign Currency Exchange Gain Loss | — | — | — | — | ($30.5m) | $0 | — | — | — | |
| Operating Gains Losses | — | — | — | — | $98.5m | ($31.7m) | — | ($144k) | $2.2m | |
| Other Non Cash Items | — | — | — | — | — | $12.5m | $8.3m | $6.3m | $6.9m | |
| Provisionand Write Offof Assets | — | — | — | — | — | $70.9m | $108.1m | $135.8m | $24.0m | |
| Purchase Of Business | — | — | — | — | — | $0 | $0 | $0 | ($6.4m) | |
| Repurchase Of Capital Stock | — | — | — | — | — | ($45.0m) | ($2.9m) | ($11.2m) | ($14.8m) | |
| Sale Of Business | — | — | — | — | $198.4m | $38.1m | $0 | $0 | — | |
| Stock Based Compensation | — | — | — | — | — | $7.9m | $14.1m | $11.6m | $12.8m | |
| Unrealized Gain Loss On Investment Securities | — | — | — | — | ($41.9m) | ($854k) | $0 | $0 | — | |
| Net cash provided by operating activities | $107.0m | $100.7m | $137.2m | $96.4m | ($21.3m) | $125.3m | $137.6m | $103.4m | $73.0m | |
| Net Investment Properties Purchase And Sale | — | — | — | — | — | $51.6m | ($7.1m) | $13.5m | $62.9m | |
| Net Investment Purchase And Sale | — | — | — | — | — | $36.2m | $2.2m | $1.5m | $6.1m | |
| Purchase Of Investment Properties | — | — | — | — | — | ($4.0m) | ($7.1m) | ($6.1m) | ($17.9m) | |
| Settlement of loans held for investment, net by real estate, net and assets held for sale | — | — | — | — | $0 | $0 | $137.6m | $0 | $0 | |
| Sale Of Investment | — | — | — | — | — | $36.2m | $2.2m | $1.5m | $6.1m | |
| Sale Of Investment Properties | — | — | — | — | — | $55.6m | $0 | $19.6m | $80.8m | |
| Net Other Investing Changes | — | — | — | — | — | ($37.9m) | $388.3m | $298.1m | ($482.6m) | |
| Net cash (used in) provided by investing activities | $439.3m | ($467.7m) | ($416.0m) | $1.0b | ($555.8m) | $89.3m | $384.2m | $313.1m | ($419.9m) | |
| Issuance Of Debt | — | — | — | — | — | $771.5m | $167.6m | $880.2m | $615.0m | |
| Long Term Debt Issuance | — | — | — | — | — | $771.5m | $167.6m | $880.2m | $615.0m | |
| Net Issuance Payments Of Debt | — | — | — | — | — | ($6.9m) | ($445.7m) | ($204.7m) | $175.3m | |
| Net Long Term Debt Issuance | — | — | — | — | — | ($6.9m) | ($445.7m) | ($204.7m) | $175.3m | |
| Net Short Term Debt Issuance | — | — | — | — | $369.9m | $434.7m | ($187.4m) | — | — | |
| Short Term Debt Issuance | — | — | — | — | $1.3b | $771.5m | $133.1m | — | — | |
| Long Term Debt Payments | — | — | — | — | — | ($778.3m) | ($613.3m) | ($1.1b) | ($439.7m) | |
| Repayment Of Debt | — | — | — | — | — | ($778.3m) | ($613.3m) | ($1.1b) | ($439.7m) | |
| Short Term Debt Payments | — | — | — | — | ($955.3m) | ($336.8m) | ($320.6m) | — | — | |
| Issuance of common stock | — | — | — | — | — | — | $0 | $16k | $0 | |
| Common Stock Issuance | — | — | — | — | — | $0 | $0 | $16k | $0 | |
| Net Common Stock Issuance | — | — | — | — | — | ($45.0m) | ($2.9m) | ($11.2m) | ($14.8m) | |
| Repurchase of common stock | — | — | — | $0 | $0 | ($18.3m) | $0 | ($6.6m) | ($10.9m) | |
| Common Stock Payments | — | — | — | — | — | ($45.0m) | ($2.9m) | ($11.2m) | ($14.8m) | |
| Distributions to noncontrolling interests | $113.0m | $20.1m | $3.0m | ($31.3m) | ($255.5m) | ($204k) | ($55k) | $0 | $0 | |
| Cash Dividends Paid | — | — | — | — | — | ($99.4m) | ($104.0m) | ($99.1m) | ($83.0m) | |
| Common Stock Dividend Paid | — | — | — | — | — | ($99.4m) | ($104.0m) | ($99.1m) | ($83.0m) | |
| Dividend Received CFO | — | — | — | — | $0 | $0 | — | — | — | |
| Dividends Received CFI | — | — | — | — | — | $1.4m | $784k | $0 | $0 | |
| Net Other Financing Charges | — | — | — | — | — | ($10.2m) | ($6.1m) | ($13.0m) | ($8.6m) | |
| Net cash provided by (used in) financing activities | ($551.7m) | $487.5m | $286.8m | ($754.1m) | $384.4m | ($161.5m) | ($558.6m) | ($327.9m) | $68.9m | |
| Effect of exchange rates on cash, cash equivalents and restricted cash | $0 | ($176k) | $287k | ($690k) | ($764k) | ($898k) | $77k | $69k | $1.1m | |
| Effect Of Exchange Rate Changes | — | — | — | — | — | ($898k) | $77k | $69k | $1.1m | |
| Net increase (decrease) in cash, cash equivalents and restricted cash | ($5.4m) | $120.4m | $8.2m | $344.3m | ($193.5m) | $52.3m | ($36.7m) | $88.6m | ($276.9m) | |
| Cash and restricted cash received related to consolidation of loans held for investment and real estate owned | $537.5m | $626.6m | — | — | — | $0 | $2.2m | $1.5m | $6.1m | |
| Cash, cash equivalents and restricted cash - beginning of period | $67.1m | $187.5m | $195.7m | $540.0m | $346.6m | $398.8m | $362.1m | $450.7m | $173.8m | |
| Cash and cash equivalents | $25.2m | $77.3m | $69.6m | $474.8m | $259.7m | $306.3m | $257.5m | $302.2m | $66.8m | |
| Restricted cash | $41.9m | $110.1m | $126.1m | $65.2m | $86.8m | $92.5m | $104.6m | $148.5m | $107.0m | |
| Change In Cash Supplemental As Reported | — | — | — | — | — | $52.3m | ($36.7m) | $88.6m | ($276.9m) | |
| Paid-in-kind interest added to loan principal, net of interest received | ($1.8m) | ($5.8m) | ($7.8m) | $1.4m | ($4.8m) | $3.9m | ($5.0m) | ($1.7m) | ($2.6m) | |
| Cash paid for interest | $22.9m | $81.7m | $143.0m | $111.7m | $76.3m | $126.2m | $190.1m | $174.0m | $145.9m | |
| Cash paid for income taxes, net of refunds | $10.5m | $27.2m | ($3.1m) | ($6.0m) | $4.8m | $595k | $268k | $2.0m | ($1.9m) |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.