Current report filing

Consolidated Statements of Income

v2.4.0.8
Consolidated Statements of Income (USD $)
In Thousands, except Share data, unless otherwise specified
 12 Months Ended
Dec. 31, 2012
Dec. 31, 2010
Dec. 31, 2011
Restated
Interest income $ 282,951 $ 300,272 $ 291,036
Interest expense 109,924 172,219 138,035
Net interest income 173,027 128,053 153,001
Impairment (Reversal)      
Valuation allowance (reversal) on loans (24,587) (339,887) (15,163)
Other-than-temporary impairment on securities 19,359 101,398 12,955
Impairment of long-lived assets       433
Portion of other-than-temporary impairment on securities recognized in other comprehensive income (loss), net of the reversal of other comprehensive loss into net income (loss) (436) (2,369) 2,885
[ImpairmentNetOfTheReversalOfPriorValuationAllowancesOnLoans] (5,664) (240,858) 1,110
Net interest income (loss) after impairment/reversal 178,691 368,911 151,891
Other Revenues      
Rental income 17,081 1,708 1,899
Care and ancillary income 2,994      
Total other revenues 20,075 1,708 1,899
Other Income (Loss)      
Gain (loss) on settlement of investments, net 232,897 52,307 78,181
Gain on extinguishment of debt 24,085 265,656 66,110
Other income (loss), net 5,312 (35,676) 36,204
[NonoperatingGainsLosses] 262,294 [1] 282,287 180,495 [1]
Expenses      
Loan and security servicing expense 4,260 4,580 4,649
Property operating expenses 12,943 1,283 1,110
General and administrative expense 17,247 7,707 6,267
Management fee to affiliate 24,693 17,252 18,289
Depreciation and amortization 6,975 79 12
Total Expenses 66,118 30,901 30,327
Income (loss) from continuing operations 394,942 622,005 303,958
Income (loss) from discontinued operations 39,168 (343) 561
Net Income (Loss) 434,110 621,662 304,519
Preferred dividends (5,580) (7,453) (5,580)
Excess of carrying amount of exchanged preferred stock over fair value of consideration paid    43,043   
Income (Loss) Applicable to Common Stockholders $ 428,530 $ 657,252 $ 298,939
Basic $ 2.97 $ 10.96 $ 3.65
Diluted $ 2.94 $ 10.96 $ 3.65
Income (Loss) from continuing operations per share of common stock, after preferred dividends and excess of carrying amount of exchanged preferred stock over fair value of consideration paid      
Basic $ 2.70 $ 10.97 $ 3.64
Diluted $ 2.67 $ 10.97 $ 3.64
Income (loss) from discontinued operations per share of common stock      
Basic $ 0.27 $ (0.01) $ 0.01
Diluted $ 0.27 $ (0.01) $ 0.01
Weighted Average Number of Shares of Common Stock Outstanding      
Basic 144,146,370 59,948,827 81,983,973
Diluted 145,766,413 59,948,827 81,990,297
Dividends Declared per Share of Common Stock $ 0.84    $ 0.40
[1] (B) Including equity in earnings of unconsolidated subsidiaries.