Integrated Global Real Estate Platform
Reconciliation of GAAP Net Income (Loss) to
Distributable Earnings
(in thousands - except share and per share data)
Three Months Ended
Net Income (Loss) Attributable to Common Stockholders
Adjustments
Non-cash equity compensation expense
Unrealized (gains) or losses, net
Provision for (reversal of) credit losses, net
June 30, 2023
Per Diluted
Share(1)
March 31, 2023
Per Diluted
Share(1)
$
(25,772)
$
(0.37)
$
(30,810)
$
(0.45)
$
June 30, 2022
Per Diluted
Share(1)
19,394
$
0.28
2,174
0.03
2,152
0.03
2,040
0.03
292
1,173
0.02
(190)
56,335
0.82
60,467
0.88
11,798
0.17
Non-cash convertible notes discount amortization
44
89
90
Distributable Earnings before realized loss on loan write-offs
$
33,073
$
0.48
$
33,071
$
0.48
$
33,132
$
0.48
Distributable Earnings
$
33,073
$
0.48
$
33,071
$
0.48
$
33,132
$
0.48
Weighted average number of shares of common stock outstanding, diluted
69,115,654
69,095,011
68,549,049
(1) Numbers presented may not foot due to rounding
KREF
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