ARBOR REALTY TRUST INC
For the period ended Sep 30, 2024. Filed Nov 1, 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.
Sep 30, 2024 · Filed Nov 1, 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)
| Nine Months Ended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Operating activities: | ||
| Net income | $208,591 | $290,634 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation and amortization | 6,937 | 7,297 |
| Stock-based compensation | 11,749 | 12,141 |
| Amortization and accretion of interest and fees, net | (2,186) | (3,084) |
| Amortization of capitalized mortgage servicing rights | 50,817 | 46,920 |
| Originations of loans held-for-sale | (3,119,339) | (3,619,570) |
| Proceeds from sales of loans held-for-sale, net of gain on sale | 3,339,638 | 3,607,665 |
| Mortgage servicing rights | (37,928) | (48,769) |
| Write-off of capitalized mortgage servicing rights from payoffs | 5,911 | 11,764 |
| Provision for loss sharing (net of recoveries) | 7,787 | 12,528 |
| Provision for credit losses (net of recoveries) | 64,903 | 55,047 |
| Net (charge-offs) and recoveries for loss sharing obligations | 1,156 | (434) |
| Deferred tax benefit | (8,922) | (6,630) |
| Income from equity affiliates | (7,388) | (20,694) |
| Distributions from operations of equity affiliates | 17,017 | 22,507 |
| Change in fair value of held-for-sale loans | (1,113) | (1,634) |
| Loss on derivative instruments, net | 4,711 | — |
| Loss on extinguishment of debt | 412 | 1,561 |
| Payoffs and paydowns of loans held-for-sale | 5,116 | 463 |
| Gain on sale of real estate | (3,813) | — |
| Changes in operating assets and liabilities | (129,211) | (209,008) |
| Net cash provided by operating activities | 414,845 | 158,704 |
| Investing Activities: | ||
| Loans and investments funded, originated and purchased, net | (912,530) | (1,061,865) |
| Payoffs and paydowns of loans and investments | 1,873,927 | 2,541,373 |
| Deferred fees | 16,176 | 13,624 |
| Proceeds from sale of real estate, net | 14,103 | — |
| Contributions to equity affiliates | (17,845) | (1,029) |
| Distributions from equity affiliates | 11,224 | 15,552 |
| Payoffs and paydowns of securities held-to-maturity | 305 | 3,544 |
| Investment in real estate, net | (2,526) | — |
| Due to borrowers and reserves | (36,692) | (92,358) |
| Net cash provided by investing activities | 946,142 | 1,418,841 |
| Financing activities: | ||
| Proceeds from credit and repurchase facilities | 6,702,905 | 6,575,575 |
| Paydowns and payoffs of credit and repurchase facilities | (6,681,812) | (7,033,287) |
| Payoffs and paydowns of mortgage notes payable - REO | (8,953) | (206) |
| Payoffs and paydowns of securitized debt | (1,629,038) | (856,864) |
| Proceeds from issuance of common stock | — | 193,660 |
| Proceeds from issuance of senior unsecured notes | — | 95,000 |
| Payoffs and paydowns of senior unsecured notes | (90,000) | (149,600) |
| Payments of withholding taxes on net settlement of vested stock | (4,267) | (8,352) |
| Repurchase of common stock | (11,408) | (37,432) |
| Distributions to stockholders | (295,891) | (282,029) |
| Payment of deferred financing costs | (12,284) | (7,719) |
| Net cash used in financing activities | (2,030,748) | (1,511,254) |
| Net increase (decrease) in cash, cash equivalents and restricted cash | (669,761) | 66,291 |
| 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 | $867,446 | $1,314,456 |
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (Continued)
(in thousands)
| Nine Months Ended September 30, | ||
|---|---|---|
| 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 | $687,540 | $895,298 |
| Restricted cash at end of period | 179,906 | 419,158 |
| Cash, cash equivalents and restricted cash at end of period | $867,446 | $1,314,456 |
| Supplemental cash flow information: | ||
| Cash used to pay interest | $611,825 | $654,108 |
| Cash used to pay taxes | 23,735 | 22,916 |
| Supplemental schedule of non-cash investing and financing activities: | ||
| Real estate acquired in settlement of loans and investments, net | 169,172 | — |
| Settlement of loans and investments, net of real estate | (168,825) | — |
| Derecognition of real estate owned | 112,987 | — |
| Loan funded in conjunction with real estate sold | (114,850) | — |
| Distributions accrued on preferred stock | 7,010 | 7,010 |
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