KKR Real Estate Finance Trust Investor Presentation Deck
Reconciliation of GAAP Net Income to Distributable Earnings
(in thousands - except share and per share data)
Net Income (Loss) Attributable to Common Stockholders
Adjustments
Non-cash equity compensation expense
Unrealized (gains) or losses (¹)(2)
Provision for (Reversal of) credit losses, net
Non-cash convertible notes discount amortization
Distributable Earnings (³)
Weighted Average Shares Outstanding
Basic
Diluted
Distributable Earnings per Weighted Average Share, Basic (³)
Distributable Earnings per Weighted Average Share, Diluted (3)
September 30, 2021
31,989
39
LA
LA
2,027
(748)
1,165
91
34,524
55,637,480
56,011,243
0.62
0.62
Three Months Ended
June 30, 2021
29,264
1,994
(364)
(559)
90
30,425
55,632,322
55,907,086
0.55
0.54
September 30, 2020
31,351
1,390
(1) Includes $0.3 million, ($0.2) million, and ($0.3) million non-cash redemption value adjustment of our SNVPS during 3Q'21, 2Q'21 and 3Q'20, respectively.
(2) Includes ($1.0) million, ($0.1) million, and $0.1 million of unrealized loss (gain) on RECOP I, an equity method investment, during 3Q'21, 2Q'21,and 3Q'20, respectively.
(3) The Company has a $40.3 million, or $0.72 per share, allowance for credit losses against one 5-rated retail loan with an outstanding principal balance of $109.6 million as of September 30, 2021. Such unrealized loss has not been
reflected in distributable earnings.
(178)
(126)
91
32,528
55,491,405
55,632,170
0.59
0.58
KKR
REAL ESTATE
FINANCE TRUSTView entire presentation