ARBOR REALTY TRUST INC
For the period ended Mar 31, 2024. Filed May 3, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 3, 2024
ABR$1.60-0.6%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)
(in thousands)
| Three Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Operating activities: | ||
| Net income | $73,212 | $102,246 |
| Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ||
| Depreciation and amortization | 2,571 | 2,624 |
| Stock-based compensation | 6,020 | 5,901 |
| Amortization and accretion of interest and fees, net | (46) | (236) |
| Amortization of capitalized mortgage servicing rights | 16,631 | 15,416 |
| Originations of loans held-for-sale | (857,805) | (1,033,384) |
| Proceeds from sales of loans held-for-sale, net of gain on sale | 1,085,374 | 921,522 |
| Mortgage servicing rights | (10,199) | (18,458) |
| Write-off of capitalized mortgage servicing rights from payoffs | 1,787 | 3,307 |
| Provision for loss sharing (net of recoveries) | 273 | 3,177 |
| Provision for credit losses (net of recoveries) | 19,118 | 22,517 |
| Net charge-offs for loss sharing obligations | 883 | (588) |
| Deferred tax (benefit) provision | (3,952) | 3,164 |
| Income from equity affiliates | (1,418) | (14,326) |
| Distributions from operations of equity affiliates | — | 4,748 |
| Change in fair value of held-for-sale loans | (19) | (2,960) |
| Loss (gain) on derivative instruments, net | 5,257 | (4,223) |
| Payoffs and paydowns of loans held-for-sale | 14 | 13 |
| Changes in operating assets and liabilities | (77,745) | (67,245) |
| Net cash provided by (used in) operating activities | 259,956 | (56,785) |
| Investing Activities: | ||
| Loans and investments funded, originated and purchased | (313,557) | (380,633) |
| Payoffs and paydowns of loans and investments | 670,388 | 1,191,076 |
| Deferred fees | 3,464 | 3,953 |
| Contributions to equity affiliates | (9,593) | (500) |
| Distributions from equity affiliates | 69 | 11,567 |
| Payoffs and paydowns of securities held-to-maturity | 47 | 2,580 |
| Due to borrowers and reserves | (19,234) | — |
| Net cash provided by investing activities | 331,584 | 828,043 |
| Financing activities: | ||
| Proceeds from credit and repurchase facilities | 1,865,362 | 1,849,389 |
| Paydowns and payoffs of credit and repurchase facilities | (2,187,147) | (2,042,692) |
| Payoffs and paydowns of securitized debt | (246,165) | (344,547) |
| Proceeds from issuance of common stock | — | 82,744 |
| Proceeds from issuance of senior unsecured notes | — | 95,000 |
| Payoffs and paydowns of senior unsecured notes | — | (70,750) |
| Payments of withholding taxes on net settlement of vested stock | (862) | (5,112) |
| Repurchase of common stock | — | (9,671) |
| Distributions to stockholders | (98,667) | (90,530) |
| Payment of deferred financing costs | (6,576) | (3,866) |
| Net cash used in financing activities | (674,055) | (540,035) |
| Net (decrease) increase in cash, cash equivalents and restricted cash | (82,515) | 231,223 |
| Cash, cash equivalents and restricted cash at beginning of period | 1,537,207 | 1,248,165 |
| Cash, cash equivalents and restricted cash at end of period | $1,454,692 | $1,479,388 |
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (Continued)
(in thousands)
| Three Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Reconciliation of cash, cash equivalents and restricted cash: | ||
| Cash and cash equivalents at beginning of period | $928,974 | $534,357 |
| Restricted cash at beginning of period | 608,233 | 713,808 |
| Cash, cash equivalents and restricted cash at beginning of period | $1,537,207 | $1,248,165 |
| Cash and cash equivalents at end of period | $908,049 | $774,544 |
| Restricted cash at end of period | 546,643 | 704,844 |
| Cash, cash equivalents and restricted cash at end of period | $1,454,692 | $1,479,388 |
| Supplemental cash flow information: | ||
| Cash used to pay interest | $209,712 | $213,849 |
| Cash used to pay taxes | 567 | 1,032 |
| Supplemental schedule of non-cash investing and financing activities: | ||
| Distributions accrued on preferred stock | 7,010 | 7,010 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.