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)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments685463380213457
Cash and cash equivalents68546360213457
Short-term investments   320   
Prepaid expense  62   
Total current assets:685469382213457
Noncurrent Assets
Operating lease, right-of-use asset5
Long-term investments and receivables593355 21 
Long-term investments593355 21 
Intangible assets, net (including goodwill)203341922
Goodwill11   1417 
Intangible assets, net (excluding goodwill)833456 
Other noncurrent assets   2   
Total noncurrent assets:83365952124 
Other undisclosed assets4,8262,9462,3952,218733735563
TOTAL ASSETS:4,9773,0372,5242,605775792620
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities21191717   
Employee-related liabilities21191717   
Debt   601174192 
Total current liabilities:211917618174192 
Noncurrent Liabilities
Liabilities, other than long-term debt19      
Deferred income tax liabilities19
Total noncurrent liabilities:19      
Other undisclosed liabilities4,0922,4541,9521,435423407442
Total liabilities:4,1322,4731,9682,053597599442
Stockholders' equity
Stockholders' equity attributable to parent825545536513159173159
Common stock0000000
Additional paid in capital823540539513164164164
Accumulated other comprehensive loss(6)(1)     
Retained earnings (accumulated deficit)95(3)(0)(5)9(5)
Stockholders' equity attributable to noncontrolling interest19191939192019
Total stockholders' equity:845564555552178193178
TOTAL LIABILITIES AND EQUITY:4,9773,0372,5242,605775792620

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

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Revenues302235213135778326
Gain on disposition of assets for financial service operations5536
Net investment income2181601291196769 
Realized investment gains (losses)29381916 6(9)
Financial services revenue65 10826
Cost of revenue
(Amortization of Mortgage Servicing Rights (MSRs))
(6)(6)(6)(8)   
Gross profit:296229207127778326
Operating expenses(76)(61)(109)(60)(12)(8)(5)
Other operating income (expense), net116811(4)5 
Noninterest income, other operating income11681100 
Other expenses    (4)  
Operating income:23117410677627921
Nonoperating income31  155116
Investment income, nonoperating31  15(14)136
Mortgage servicing rights (msr) impairment (recovery)    (4)(2) 
Other nonoperating income    38  
Interest and debt expense(152)(109)(75)(58)(19)(17)(7)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes(45)(2)1630   
Income from continuing operations before equity method investments, income taxes:65634865477320
Other undisclosed loss from continuing operations before income taxes    (44)(44) 
Income from continuing operations before income taxes:6563486532920
Income tax expense (benefit)11(1)(2)(10)(4)1 
Income (loss) from continuing operations:75614656(1)3020
Loss from discontinued operations   (2)   
Income (loss) before gain (loss) on sale of properties:75614653(1)3020
Other undisclosed net loss      (12)
Net income (loss):75614653(1)308
Net income (loss) attributable to noncontrolling interest(2)(2)(3)(4)0(3)(1)
Net income (loss) attributable to parent:73594349(1)277
Preferred stock dividends and other adjustments      (0)
Undistributed earnings (loss) allocated to participating securities, basic(1)(0) 
Other undisclosed net loss available to common stockholders, basic  (0)    
Net income (loss) available to common stockholders, basic:72594349(1)277
Interest on convertible debt     3 
Dilutive securities, effect on basic earnings per share     31
Other undisclosed net loss available to common stockholders, diluted    (0)  
Net income (loss) available to common stockholders, diluted:72594349(1)338

Comprehensive Income ($ in millions)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Net income (loss):75614653(1)308
Other comprehensive loss(5)(1)     
Comprehensive income (loss):70614653(1)308
Comprehensive income (loss), net of tax, attributable to noncontrolling interest(2)(2)(3)(4)0(3)1
Comprehensive income (loss), net of tax, attributable to parent:68584349(1)278

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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