Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Cash Flows From Operating Activities    
Net income $ 25,394 $ 41,465
Adjustments to reconcile net income to net cash (used in) provided by operating activities (inclusive of amounts related to discontinued operations):    
Depreciation and amortization 20,994 102,585
Accretion of discount and other amortization 4,942 (12,393)
Net interest income on investments accrued to principal balance (19,147) (15,628)
Non-cash directors' compensation 238 275
Valuation allowance (reversal) on loans 7,684 (1,243)
Other-than-temporary impairment on securities 9,860 0
Change in fair value of contingent consideration 0 (1,500)
Straight-lining of rental income 0 (19,035)
Equity in earnings from equity method investments, net of distributions (975) (621)
Gain on settlement of investments (net) (24,451) (49,742)
Unrealized loss (gain) on non-hedge derivatives and hedge ineffectiveness 89 (18,432)
Loss/(gain) on extinguishment of debt, net (15,367) 3,410
Change in:    
Restricted cash (1,725) 1,530
Receivables and other assets (1,555) 6,441
Accounts payable, accrued expenses and other liabilities (22,415) (11,494)
Net cash (used in) provided by operating activities (16,434) 25,618
Cash Flows From Investing Activities    
Principal repayments from investments 124,015 232,630
Purchase of real estate securities (1,039,220) 0
Proceeds from sale of investments 1,061,499 798,122
Acquisition and additions of investments in real estate (2,894) (313,519)
Change in restricted cash from investing activities 56,774 0
Deposits paid on investments 0 (150)
Net cash provided by investing activities 200,174 717,083
Cash Flows From Financing Activities    
Repurchases of debt obligations (152,281) 0
Borrowings under debt obligations 1,454,435 167,232
Repayments of debt obligations (1,485,065) (819,980)
Margin deposits under repurchase agreements and derivatives (113,899) (23,716)
Return of margin deposits under repurchase agreements and derivatives (112,631) (23,716)
Issuance of common stock 0 198,671
Costs related to issuance of common stock 0 (254)
Contribution of cash to New Media/New Residential upon spin-off 0 (23,845)
Common stock dividends paid (23,919) (105,462)
Preferred stock dividends paid (4,185) (4,185)
Payment of deferred financing costs (500) (3,002)
Payments from settlement of derivative instruments (13,326) 0
Net cash used in financing activities (226,109) (590,825)
Net (Decrease) Increase in Cash and Cash Equivalents (42,369) 151,876
Cash and Cash Equivalents of Continuing Operations, Beginning of Period 73,727 42,721
Cash and Cash Equivalents of Discontinued Operations, Beginning of Period 135 63,223
Cash and Cash Equivalents, End of Period 31,493 257,820
Cash and Cash Equivalents of Continuing Operations, End of Period 31,493 215,035
Cash and Cash Equivalents of Discontinued Operations, End of Period 0 42,785
Supplemental Disclosure of Cash Flow Information    
Cash paid during the period for income taxes 268 1,351
Cash paid during the period for interest expense 13,583 58,093
Supplemental Schedule of Non-Cash Investing and Financing Activities    
Costs associated with issuance of common stock 0 346
Preferred stock dividends declared but not paid 930 930
Common stock dividends declared but not paid 7,978 39,840
Additions to capital lease assets and liabilities 7,231 5,162
Reduction of Assets and Liabilities relating to the spin-off of New Media    
Property, plant and equipment, net 0 266,385
Goodwill and intangibles, net 0 271,350
Restricted cash 0 6,477
Receivables and other assets 0 101,940
Credit facilities, media 0 177,955
Accounts payable, accrued expenses and other liabilities $ 0 $ 100,695