Investor Presentaiton
Reconciliation of GAAP Net (Loss) Income to
Distributable Earnings*
($ IN MILLIONS, EXCEPT PER SHARE DATA) (UNAUDITED)
GAAP Net (Loss) Income*
Q3 2023
Q2 2023
$(24.5)
$1.4
Q1 2023
$(37.5)
Q4 2022
$(9.9)
Adjustments:
Provision (Benefit from) for Credit Losses
$31.0
$5.8
$46.4
$16.5
Loss (Gain) on Extinguishment of Debt
$(0.2)
Loss on Loan Sale
$-
$-
$1.7
Non-Cash Equity Compensation
$1.6
$2.4
$2.0
$0.6
Depreciation and Amortization on Real Estate
$1.4
$0.6
$-
Owned
Distributable Earnings* Pre-loss and Write-off
$9.5
$10.2
$10.7
$9.0
Loan Write-off
$(16.8)
$(4.2)
$(15.5)
Loss on Loan Sale
$-
$-
$-
$(1.7)
Distributable Earnings (Loss)*
$(7.3)
$6.0
$10.7
$(8.2)
Basic Wtd. Avg. Common Shares
51,577,143
51,538,309
52,308,380
52,350,989
Diluted Wtd. Avg. Common Shares
51,577,143
51,619,072
52,308,380
52,350,989
Distributable Earnings* Per Basic Share Pre-loss
and Loan Write-off
$0.18
$0.20
$0.20
$0.17
Distributable Earnings (Loss)* Per Basic Share
$(0.14)
$0.12
$0.20
$(0.16)
See definition in this appendix.
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