ARBOR REALTY TRUST INC
For the period ended Dec 31, 2023. Filed Feb 20, 2024.
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FY2023 · Filed Feb 20, 2024
ABR$1.47-8.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Operating activities: | |||
| Net income | $400,556 | $353,827 | $377,807 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 9,743 | 8,732 | 7,215 |
| Stock-based compensation | 14,940 | 14,973 | 9,929 |
| Amortization and accretion of interest and fees, net | (3,612) | (13,547) | (2,487) |
| Amortization of capitalized mortgage servicing rights | 63,093 | 59,876 | 58,615 |
| Originations of loans held-for-sale | (5,074,445) | (4,788,202) | (6,461,023) |
| Proceeds from sales of loans held-for-sale, net of gain on sale | 4,878,021 | 5,438,623 | 6,415,169 |
| Mortgage servicing rights | (69,912) | (69,346) | (130,230) |
| Write-off of capitalized mortgage servicing rights from payoffs | 14,736 | 44,502 | 32,741 |
| Provision for loss sharing (net of recoveries) | 15,695 | 1,862 | (6,167) |
| Provision for credit losses (net of recoveries) | 73,446 | 21,169 | (21,113) |
| Net (charge-offs) recoveries for loss sharing obligations | (1,229) | (758) | (2,072) |
| Deferred tax (benefit) provision | (7,349) | (1,741) | 10,892 |
| Income from equity affiliates | (24,281) | (14,247) | (34,567) |
| Distributions from operations of equity affiliates | 27,542 | 16,594 | 32,953 |
| Loss on extinguishment of debt | 1,561 | 4,933 | 3,374 |
| Payoffs and paydowns of loans held-for-sale | 987 | 58,751 | 2,425 |
| Change in fair value of held-for-sale loans | (2,536) | 15,703 | — |
| (Gain) loss on derivative instruments, net | (6,763) | (26,609) | 2,684 |
| Loss on sale of loans | — | 11,180 | — |
| Litigation settlement | — | 7,350 | — |
| Gain on real estate | — | — | (3,693) |
| Changes in operating assets and liabilities | (74,336) | (43,976) | (75,605) |
| Net cash provided by operating activities | 235,857 | 1,099,649 | 216,847 |
| Investing Activities: | |||
| Loans and investments funded, originated and purchased, net | (1,362,171) | (5,955,061) | (9,209,475) |
| Payoffs and paydowns of loans and investments | 3,359,810 | 3,423,498 | 2,370,570 |
| Deferred fees | 21,299 | 57,098 | 72,182 |
| Contributions to equity affiliates | (18,986) | (17,809) | (48,071) |
| Distributions from equity affiliates | 15,552 | 26,008 | 34,283 |
| Payoffs and paydowns of securities held-to-maturity | 4,626 | 19,030 | 13,317 |
| Due to borrowers and reserves | (141,152) | (239,626) | (57,249) |
| Proceeds from sale of loans and investments | — | 397,338 | 127,700 |
| Purchase of securities held-to-maturity, net | — | (27,598) | (53,511) |
| Net cash provided by (used in) investing activities | 1,878,978 | (2,317,122) | (6,750,254) |
| Financing activities: | |||
| Proceeds from credit and repurchase facilities | 9,148,451 | 11,536,220 | 15,688,353 |
| Payoffs and paydowns of credit and repurchase facilities | (9,747,252) | (12,153,215) | (13,433,376) |
| Proceeds from issuance of securitized debt | — | 2,762,502 | 4,281,512 |
| Payoffs and paydowns of securitized debt | (929,782) | (801,141) | (889,150) |
| Proceeds from issuance of common stock | 193,661 | 408,735 | 514,593 |
| Proceeds from issuance of preferred stock | — | 77,522 | 555,999 |
| Proceeds from issuance of senior unsecured notes | 95,000 | 437,500 | 625,000 |
| Payoffs and paydowns of senior unsecured notes | (149,600) | (312,920) | — |
| Redemption of OP Units | — | (546) | (21,605) |
| Payments of withholding taxes on net settlement of vested stock | (8,360) | (8,188) | (9,032) |
| Repurchase of common stock | (37,431) | — | (34,404) |
| Distributions to stockholders and non-controlling interest | (380,640) | (321,739) | (227,062) |
| Payment of deferred financing costs | (9,840) | (50,362) | (56,060) |
| Redemption of preferred stock | — | — | (92,789) |
| Extinguishment of convertible senior unsecured notes | — | — | (14,300) |
|---|---|---|---|
| Net cash (used in) provided by financing activities | (1,825,793) | 1,574,368 | 6,887,679 |
| Net increase in cash, cash equivalents and restricted cash | 289,042 | 356,895 | 354,272 |
| Cash, cash equivalents and restricted cash at beginning of period | 1,248,165 | 891,270 | 536,998 |
| Cash, cash equivalents and restricted cash at end of period | $1,537,207 | $1,248,165 | $891,270 |
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Reconciliation of cash, cash equivalents and restricted cash: | |||
| Cash and cash equivalents at beginning of period | $534,357 | $404,580 | $339,528 |
| Restricted cash at beginning of period | 713,808 | 486,690 | 197,470 |
| Cash, cash equivalents and restricted cash at beginning of period | $1,248,165 | $891,270 | $536,998 |
| Cash and cash equivalents at end of period | $928,974 | $534,357 | $404,580 |
| Restricted cash at end of period | 608,233 | 713,808 | 486,690 |
| Cash, cash equivalents and restricted cash at end of period | $1,537,207 | $1,248,165 | $891,270 |
| Supplemental cash flow information: | |||
| Cash used to pay interest | $861,141 | $486,826 | $175,912 |
| Cash used to pay taxes | 30,129 | 27,560 | 37,797 |
| Supplemental schedule of non-cash investing and financing activities: | |||
| Distributions accrued on preferred stock | 7,010 | 7,010 | 6,767 |
| Investment in real estate, net | 39,400 | 31,200 | — |
| Cumulative - effect adjustment (adoption of convertible debt standard) | — | 2,447 | — |
| Loans transferred from loans and investment, net to loans held-for-sale | — | — | 65,144 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.