ARBOR REALTY TRUST INC
For the period ended Dec 31, 2023. Filed Feb 20, 2024.
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FY2023 · Filed Feb 20, 2024
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Consolidated Statements of Changes in Equity
ARBOR REALTY TRUST, INC.
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
($ in thousands, except shares)
| Preferred Stock Shares | PreferredStockValue | CommonStock Shares | CommonStockPar Value | Additional Paid‑in Capital | (Accumulated Deficit) /RetainedEarnings | Total Arbor Realty Trust, Inc. Stockholders’ Equity | Noncontrolling Interest | TotalEquity | |
|---|---|---|---|---|---|---|---|---|---|
| Balance — December 31, 2020 | 21,272,133 | 89,472 | 123,181,173 | 1,232 | 1,317,109 | (63,442) | 1,344,371 | 138,314 | 1,482,685 |
| Issuance - common stock | — | — | 29,140,369 | 291 | 514,302 | — | 514,593 | — | 514,593 |
| Repurchase - common stock | — | — | (1,962,499) | (19) | (34,385) | — | (34,404) | — | (34,404) |
| Issuance - common stock from convertible debt | — | — | 386,459 | 4 | (4) | — | — | — | — |
| Issuance - Series D preferred stock | 9,200,000 | 222,438 | — | — | — | — | 222,438 | — | 222,438 |
| Issuance - Series E preferred stock | 5,750,000 | 138,886 | — | — | — | — | 138,886 | — | 138,886 |
| Issuance - Series F preferred stock | 8,050,000 | 194,675 | — | — | — | — | 194,675 | — | 194,675 |
| Redemption - preferred stock | (3,711,500) | (89,296) | — | — | — | (3,493) | (92,789) | — | (92,789) |
| Stock-based compensation, net | — | — | 616,679 | 6 | 891 | — | 897 | — | 897 |
| Distributions - common stock | — | — | — | — | — | (191,423) | (191,423) | — | (191,423) |
| Distributions - preferred stock | — | — | — | — | — | (18,410) | (18,410) | — | (18,410) |
| Distributions - noncontrolling interest | — | — | — | — | — | — | — | (23,366) | (23,366) |
| Redemption - OP Units | (1,235,538) | (12) | — | — | — | — | (12) | (21,593) | (21,605) |
| Net income | — | — | — | — | — | 339,300 | 339,300 | 38,507 | 377,807 |
| Balance — December 31, 2021 | 39,325,095 | 556,163 | 151,362,181 | 1,514 | 1,797,913 | 62,532 | 2,418,122 | 131,862 | 2,549,984 |
| Cumulative - effect adjustment (1) | — | — | — | — | (8,684) | 5,612 | (3,072) | 625 | (2,447) |
| Balance - January 1, 2022 (adjusted for adoption of ASU 2020-06) | 39,325,095 | 556,163 | 151,362,181 | 1,514 | 1,789,229 | 68,144 | 2,415,050 | 132,487 | 2,547,537 |
| Issuance - common stock | — | — | 26,335,788 | 263 | 408,472 | — | 408,735 | — | 408,735 |
| Issuance - Series F preferred stock | 3,292,000 | 77,522 | — | — | — | — | 77,522 | — | 77,522 |
| Stock-based compensation, net | — | — | 532,553 | 5 | 6,780 | — | 6,785 | — | 6,785 |
| Distributions - common stock | — | — | — | — | — | (255,913) | (255,913) | — | (255,913) |
| Distributions - preferred stock | — | — | — | — | — | (40,965) | (40,965) | — | (40,965) |
| Distributions - noncontrolling interest | — | — | — | — | — | — | — | (25,103) | (25,103) |
| Redemption - OP Units | (31,506) | (1) | — | — | — | — | (1) | (545) | (546) |
| Net income | — | — | — | — | — | 325,783 | 325,783 | 28,044 | 353,827 |
| Balance — December 31, 2022 | 42,585,589 | $633,684 | 178,230,522 | $1,782 | $2,204,481 | $97,049 | $2,936,996 | $134,883 | $3,071,879 |
| Issuance - common stock | — | — | 13,113,296 | 131 | 193,530 | — | 193,661 | — | 193,661 |
| Repurchase - common stock | — | — | (3,545,604) | (35) | (37,396) | — | (37,431) | — | (37,431) |
| Stock-based compensation, net | — | — | 707,050 | 7 | 6,573 | — | 6,580 | — | 6,580 |
| Distributions - common stock | — | — | — | — | — | (311,884) | (311,884) | — | (311,884) |
| Distributions - preferred stock | — | — | — | — | — | (41,383) | (41,383) | — | (41,383) |
| Distributions - noncontrolling interest | — | — | — | — | — | — | — | (27,373) | (27,373) |
| Net income | — | — | — | — | — | 371,434 | 371,434 | 29,122 | 400,556 |
| Balance — December 31, 2023 | 42,585,589 | $633,684 | 188,505,264 | $1,885 | $2,367,188 | $115,216 | $3,117,973 | $136,632 | $3,254,605 |
(1)In August 2020, the FASB issued Accounting Standards Update (“ASU”) 2020-06, Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging— Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity (“ASU 2020-06”). The adoption of this guidance resulted in a $2.5 million increase to the carrying value of our convertible debt, an $8.7 million decrease to additional paid-in capital and a $5.6 million increase to retained earnings at January 1, 2022.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.