ARBOR REALTY TRUST INC

For the period ended Dec 31, 2024. Filed Feb 21, 2025.

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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2024 · Filed Feb 21, 2025

ABR$1.47-8.1%Stored close · as of Nov 10, 2026

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Contents

Item 8. Consolidated Statements of Cash Flows

CONSOLIDATED STATEMENTS OF CASH FLOWS

	Year Ended December 31,
	2024	2023	2022
Operating activities:
Net income	$283,919	$400,556	$353,827
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	9,555	9,743	8,732
Stock-based compensation	14,232	14,940	14,973
Amortization and accretion of interest and fees, net	(705)	(3,612)	(13,547)
Amortization of capitalized mortgage servicing rights	68,422	63,093	59,876
Originations of loans held-for-sale	(4,501,081)	(5,074,445)	(4,788,202)
Proceeds from sales of loans held-for-sale, net of gain on sale	4,609,686	4,878,021	5,438,623
Mortgage servicing rights	(51,272)	(69,912)	(69,346)
Write-off of capitalized mortgage servicing rights from payoffs	8,500	14,736	44,502
Provision for loss sharing (net of recoveries)	11,782	15,695	1,862
Provision for credit losses (net of recoveries)	68,543	73,446	21,169
Net (charge-offs) recoveries for loss sharing obligations	(266)	(1,229)	(758)
Deferred tax benefit	(11,613)	(7,349)	(1,741)
Income from equity affiliates	(5,772)	(24,281)	(14,247)
Distributions from operations of equity affiliates	17,131	27,542	16,594
Loss on extinguishment of debt	412	1,561	4,933
Payoffs and paydowns of loans held-for-sale	5,487	987	58,751
Change in fair value of held-for-sale loans	(609)	(2,536)	15,703
Loss (gain) on derivative instruments, net	8,543	(6,763)	(26,609)
Loss on sale of loans	—	—	11,180
Litigation settlement	—	—	7,350
Gain on real estate	(3,813)	—	—
Changes in operating assets and liabilities	(69,564)	(74,336)	(43,976)
Net cash provided by operating activities	461,517	235,857	1,099,649
Investing Activities:
Loans and investments funded, originated and purchased, net	(1,600,461)	(1,362,171)	(5,955,061)
Payoffs and paydowns of loans and investments	2,781,658	3,359,810	3,423,498
Deferred fees	25,792	21,299	57,098
Proceeds from sale of real estate, net	14,103	—	—
Contributions to equity affiliates	(19,593)	(18,986)	(17,809)
Distributions from equity affiliates	11,224	15,552	26,008
Payoffs and paydowns of securities held-to-maturity	483	4,626	19,030
Investments in real estate, net	(3,471)	—	—
Due to borrowers and reserves	(57,966)	(141,152)	(239,626)
Proceeds from sale of loans and investments	—	—	397,338
Purchase of securities held-to-maturity, net	—	—	(27,598)
Net cash provided by (used in) investing activities	1,151,769	1,878,978	(2,317,122)
Financing activities:
Proceeds from credit and repurchase facilities	9,350,727	9,148,451	11,536,220
Payoffs and paydowns of credit and repurchase facilities	(9,025,305)	(9,747,252)	(12,153,215)
Proceeds from mortgage note payable - REO	39,547	—	—
Payoffs and paydowns of mortgage notes payable - REO	(8,989)	—	—
Proceeds from issuance of securitized debt	—	—	2,762,502
Payoffs and paydowns of securitized debt	(2,324,269)	(929,782)	(801,141)
Proceeds from issuance of common stock	10,030	193,661	408,735
Proceeds from issuance of preferred stock	—	—	77,522
Proceeds from issuance of senior unsecured notes	100,000	95,000	437,500
Payoffs and paydowns of senior unsecured notes	(200,000)	(149,600)	(312,920)
Redemption of OP Units	—	—	(546)
Payments of withholding taxes on net settlement of vested stock	(4,565)	(8,360)	(8,188)

CONSOLIDATED STATEMENTS OF CASH FLOWS (continued)

Repurchase of common stock	(11,408)	(37,431)	—
Distributions to stockholders and non-controlling interest	(394,843)	(380,640)	(321,739)
Payment of deferred financing costs	(21,239)	(9,840)	(50,362)
Net cash (used in) provided by financing activities	(2,490,314)	(1,825,793)	1,574,368
Net (decrease) increase in cash, cash equivalents and restricted cash	(877,028)	289,042	356,895
Cash, cash equivalents and restricted cash at beginning of period	1,537,207	1,248,165	891,270
Cash, cash equivalents and restricted cash at end of period	$660,179	$1,537,207	$1,248,165

CONSOLIDATED STATEMENTS OF CASH FLOWS (continued)

	Year Ended December 31,
	2024	2023	2022
Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents at beginning of period	$928,974	$534,357	$404,580
Restricted cash at beginning of period	608,233	713,808	486,690
Cash, cash equivalents and restricted cash at beginning of period	$1,537,207	$1,248,165	$891,270
Cash and cash equivalents at end of period	$503,803	$928,974	$534,357
Restricted cash at end of period	156,376	608,233	713,808
Cash, cash equivalents and restricted cash at end of period	$660,179	$1,537,207	$1,248,165
Supplemental cash flow information:
Cash used to pay interest	$782,047	$861,141	$486,826
Cash used to pay taxes	28,813	30,129	27,560
Supplemental schedule of non-cash investing and financing activities:
Real estate acquired in settlement of loans and investments, net	278,330	—	—
Settlement of loans and investments, net of real estate	(279,480)	—	—
Derecognition of real estate owned	177,146	—	—
Loan funded in conjunction with real estate sold	(182,485)	—	—
Distributions accrued on preferred stock	7,010	7,010	7,010
Investment in real estate, net	—	39,400	31,200
Cumulative - effect adjustment (adoption of convertible debt standard)	—	—	2,447

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