Ready Capital Corproation (RC) financial statements (2022 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)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments23013968546338021
Cash and cash equivalents2301396854636021
Short-term investments     320 
Prepaid expense    62 
Total current assets:23013968546938221
Noncurrent Assets
Operating lease, right-of-use asset235
Long-term investments and receivables14180593355 2
Long-term investments14180593355 2
Intangible assets, net (including goodwill)46182033419
Goodwill311111   14
Intangible assets, net (excluding goodwill)15783345
Deferred income tax assets4  
Other noncurrent assets     2 
Total noncurrent assets:193101833659521
Other undisclosed assets9,1115,1324,8262,9462,3952,218733
TOTAL ASSETS:9,5345,3724,9773,0372,5242,605775
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities433621191717 
Employee-related liabilities433621191717 
Debt     601174
Total current liabilities:4336211917618174
Noncurrent Liabilities
Liabilities, other than long-term debt121719    
Deferred income tax liabilities121719
Total noncurrent liabilities:121719    
Other undisclosed liabilities8,1904,4854,0922,4541,9521,435423
Total liabilities:8,2454,5384,1322,4731,9682,053597
Temporary equity, carrying amount8      
Stockholders' equity
Stockholders' equity attributable to parent1,276815825545536513159
Preferred stock111      
Common stock0000000
Additional paid in capital1,162850823540539513164
Accumulated other comprehensive loss(6)(10)(6)(1)   
Retained earnings (accumulated deficit)9(24)95(3)(0)(5)
Stockholders' equity attributable to noncontrolling interest4191919193919
Total stockholders' equity:1,281834845564555552178
TOTAL LIABILITIES AND EQUITY:9,5345,3724,9773,0372,5242,605775

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

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Revenues17023130223521313577
Gain on disposition of assets for financial service operations1011995536
Net investment income  21816012911967
Realized investment gains693229381916 
Financial services revenue65 10
Cost of revenue
(Amortization of Mortgage Servicing Rights (MSRs))
(11)(6)(6)(6)(6)(8) 
Gross profit:15922529622920712777
Operating expenses(135)(115)(76)(61)(109)(60)(12)
Other operating income (expense), net942116811(4)
Noninterest income, other operating income9421168110
Other expenses      (4)
Operating income:331512311741067762
Nonoperating income  31  155
Investment income, nonoperating  31  15(14)
Mortgage servicing rights (msr) impairment (recovery)      (4)
Other nonoperating income      38
Interest and debt expense(214)(175)(152)(109)(75)(58)(19)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes 79(45)(2)1630 
Income (loss) from continuing operations before equity method investments, income taxes:(181)546563486547
Income from equity method investments7      
Other undisclosed income (loss) from continuing operations before income taxes363     (44)
Income from continuing operations before income taxes:18954656348653
Income tax expense (benefit)(29)(8)11(1)(2)(10)(4)
Income (loss) from continuing operations:1604675614656(1)
Loss from discontinued operations     (2) 
Net income (loss):1604675614653(1)
Net income (loss) attributable to noncontrolling interest(2)(1)(2)(2)(3)(4)0
Net income (loss) attributable to parent:1584573594349(1)
Preferred stock dividends and other adjustments(8)      
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:1504372594349(1)
Other undisclosed net loss available to common stockholders, diluted      (0)
Net income (loss) available to common stockholders, diluted:1504372594349(1)

Comprehensive Income ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Net income (loss):1604675614653(1)
Other comprehensive income (loss)4(4)(5)(1)   
Comprehensive income (loss):1644270614653(1)
Comprehensive income (loss), net of tax, attributable to noncontrolling interest(2)(1)(2)(2)(3)(4)0
Comprehensive income (loss), net of tax, attributable to parent:1624168584349(1)

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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