Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS

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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Revenue      
Interest income $ 207,794 $ 134,656 $ 106,889
Rental income 21,251 26,245 25,905
Gain on sale of assets 68,637 57,187 68,333
Securitization asset income 19,259 17,905 9,692
Other income 2,930 3,744 2,347
Total revenue 319,871 239,737 213,166
Expenses      
Interest expense 171,008 115,559 121,705
Provision for loss on receivables 11,832 12,798 496
Compensation and benefits 64,344 63,445 52,975
General and administrative 31,283 29,934 19,907
Total expenses 278,467 221,736 195,083
Income before equity method investments 41,404 18,001 18,083
Income (loss) from equity method investments 140,974 31,291 126,421
Income (loss) before income taxes 182,378 49,292 144,504
Income tax benefit (expense) (31,621) (7,381) (17,158)
Net income (loss) 150,757 41,911 127,346
Net income (loss) attributable to non-controlling interest holders 1,921 409 767
Net income (loss) attributable to controlling stockholders $ 148,836 $ 41,502 $ 126,579
Basic earnings (loss) per common share (in usd per share) $ 1.45 $ 0.47 $ 1.57
Diluted earnings per common share (in usd per share) $ 1.42 $ 0.47 $ 1.51
Weighted average common shares outstanding—basic (in shares) 101,844,551 87,500,799 79,992,922
Weighted average common shares outstanding—diluted (in shares) 109,467,554 90,609,329 87,671,641