Ready Capital Corporation (RC) financial statements (2021 and earlier)

Company profile

Business Address 1140 AVENUE OF THE AMERICAS, 7TH FLOOR
NEW YORK, NY 10036
State of Incorp. MD
Fiscal Year End December 31
SIC 6798 - Real Estate Investment Trusts (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments1396854633802134
Cash and cash equivalents139685463602134
Short-term investments    320  
Prepaid expense   62  
Total current assets:1396854693822134
Noncurrent Assets
Operating lease, right-of-use asset35
Long-term investments and receivables80593355 21
Long-term investments80593355 21
Intangible assets, net (including goodwill)18203341922
Goodwill1111   1417
Intangible assets, net (excluding goodwill)7833456
Other noncurrent assets    2  
Total noncurrent assets:10183365952124
Other undisclosed assets5,1324,8262,9462,3952,218733735
TOTAL ASSETS:5,3724,9773,0372,5242,605775792
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities3621191717  
Employee-related liabilities3621191717  
Debt    601174192
Total current liabilities:36211917618174192
Noncurrent Liabilities
Liabilities, other than long-term debt1719     
Deferred income tax liabilities1719
Total noncurrent liabilities:1719     
Other undisclosed liabilities4,4854,0922,4541,9521,435423407
Total liabilities:4,5384,1322,4731,9682,053597599
Stockholders' equity
Stockholders' equity attributable to parent815825545536513159173
Common stock0000000
Additional paid in capital850823540539513164164
Accumulated other comprehensive loss(10)(6)(1)    
Retained earnings (accumulated deficit)(24)95(3)(0)(5)9
Stockholders' equity attributable to noncontrolling interest19191919391920
Total stockholders' equity:834845564555552178193
TOTAL LIABILITIES AND EQUITY:5,3724,9773,0372,5242,605775792

Income statement (P&L) ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Revenues2313022352131357783
Gain on disposition of assets for financial service operations1995536
Net investment income 2181601291196769
Realized investment gains3229381916 6
Financial services revenue65 108
Cost of revenue
(Amortization of Mortgage Servicing Rights (MSRs))
(6)(6)(6)(6)(8)  
Gross profit:2252962292071277783
Operating expenses(115)(76)(61)(109)(60)(12)(8)
Other operating income (expense), net42116811(4)5
Noninterest income, other operating income4211681100
Other expenses     (4) 
Operating income:151231174106776279
Nonoperating income 31  15511
Investment income, nonoperating 31  15(14)13
Mortgage servicing rights (msr) impairment (recovery)     (4)(2)
Other nonoperating income     38 
Interest and debt expense(175)(152)(109)(75)(58)(19)(17)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes79(45)(2)1630  
Income from continuing operations before equity method investments, income taxes:54656348654773
Other undisclosed loss from continuing operations before income taxes     (44)(44)
Income from continuing operations before income taxes:5465634865329
Income tax expense (benefit)(8)11(1)(2)(10)(4)1
Income (loss) from continuing operations:4675614656(1)30
Loss from discontinued operations    (2)  
Net income (loss):4675614653(1)30
Net income (loss) attributable to noncontrolling interest(1)(2)(2)(3)(4)0(3)
Net income (loss) attributable to parent:4573594349(1)27
Undistributed earnings (loss) allocated to participating securities, basic(1)(1)(0) 
Other undisclosed net loss available to common stockholders, basic   (0)   
Net income (loss) available to common stockholders, basic:4372594349(1)27
Interest on convertible debt      3
Dilutive securities, effect on basic earnings per share      3
Other undisclosed net loss available to common stockholders, diluted     (0) 
Net income (loss) available to common stockholders, diluted:4372594349(1)33

Comprehensive Income ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Net income (loss):4675614653(1)30
Other comprehensive loss(4)(5)(1)    
Comprehensive income (loss):4270614653(1)30
Comprehensive income (loss), net of tax, attributable to noncontrolling interest(1)(2)(2)(3)(4)0(3)
Comprehensive income (loss), net of tax, attributable to parent:4168584349(1)27

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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