Attached files
| file | filename |
|---|---|
| 8-K - 8-K - Drive Shack Inc. | d773374d8k.htm |
| EX-99.2 - EX-99.2 - Drive Shack Inc. | d773374dex992.htm |
| EX-99.1 - EX-99.1 - Drive Shack Inc. | d773374dex991.htm |
Exhibit 99.3
SELECTED FINANCIAL INFORMATION
The financial statements of Newcastle Investment Corp. (the “Company”) for the periods ended on and prior to June 30, 2014 that have been previously filed by the Company are presented without giving effect to the reverse stock split approved by the Company’s board of directors on August 6, 2014. As a result of the reverse stock split, the Company is presenting selected financial data for the Company, which reflects the effect of the 3-for-1 reverse common stock split, for (i) the three and six months ended June 30, 2014 and 2013, (ii) the three months ended March 31, 2014 and 2013, and (iii) the years ended December 31, 2013, 2012, 2011, 2010 and 2009.
The selected financial information should be read in conjunction with the Company’s consolidated financial statements and the notes thereto and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q for these periods.
| (in thousands, except per share data) | ||||||||||||||||||||
| Year Ended December 31, | ||||||||||||||||||||
| 2013 | 2012 | 2011 | 2010 | 2009 | ||||||||||||||||
| Interest income |
$ | 213,715 | $ | 282,951 | $ | 291,036 | $ | 300,272 | $ | 361,866 | ||||||||||
| Interest expense |
89,382 | 109,924 | 138,035 | 172,219 | 218,410 | |||||||||||||||
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| Net interest income |
124,333 | 173,027 | 153,001 | 128,053 | 143,456 | |||||||||||||||
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| Impairment (Reversal) |
(19,769 | ) | (5,664 | ) | 1,110 | (240,858 | ) | 548,540 | ||||||||||||
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| Net interest income (loss) after impairment |
144,102 | 178,691 | 151,891 | 368,911 | (405,084 | ) | ||||||||||||||
| Operating revenues |
87,323 | 20,075 | 1,899 | 1,708 | 1,547 | |||||||||||||||
| Other income |
35,301 | 262,294 | 180,495 | 282,287 | 227,399 | |||||||||||||||
| Expenses |
152,990 | 66,118 | 30,327 | 30,901 | 33,099 | |||||||||||||||
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| Income (loss) from continuing operations before income taxes |
113,736 | 394,942 | 303,958 | 622,005 | (209,237 | ) | ||||||||||||||
| Income tax expense |
1,038 | — | — | — | — | |||||||||||||||
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| Income (loss) from continuing operations |
112,698 | 394,942 | 303,958 | 622,005 | (209,237 | ) | ||||||||||||||
| Preferred dividends |
(5,580 | ) | (5,580 | ) | (5,580 | ) | (7,453 | ) | (13,501 | ) | ||||||||||
| Excess of carrying amount of exchanged preferred stock over fair value of consideration paid |
— | — | — | 43,043 | — | |||||||||||||||
| Net income attributable to noncontrolling interests |
(928 | ) | — | — | — | — | ||||||||||||||
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| Income (loss) from continuing operations, after preferred dividends, excess of carrying amount of exchanged preferred stock over fair value of consideration paid and net income attributable to noncontrolling interest: |
$ | 106,190 | $ | 389,362 | $ | 298,378 | $ | 657,595 | $ | (222,738 | ) | |||||||||
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| Income (loss) from continuing operations per share of common stock, after preferred dividends, excess of carrying of exchange preferred stock over fair value of consideration paid and net income attributable to noncontrolling interest. |
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| Basic |
$ | 1.15 | $ | 8.10 | $ | 10.92 | $ | 32.91 | $ | (12.64 | ) | |||||||||
| Diluted |
$ | 1.12 | $ | 8.01 | $ | 10.92 | $ | 32.91 | $ | (12.64 | ) | |||||||||
| Weighted average number of shares of common stock outstanding giving effect to the 3-to-1 reverse stock spilt |
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| Basic |
92,294 | 48,049 | 27,328 | 19,983 | 17,621 | |||||||||||||||
| Diluted |
94,437 | 48,589 | 27,330 | 19,983 | 17,621 | |||||||||||||||
| Dividends declared per share of common stock |
$ | 1.77 | $ | 2.52 | $ | 1.20 | — | — | ||||||||||||
| Total Assets |
$ | 4,852,563 | $ | 3,945,312 | $ | 3,651,799 | $ | 3,687,111 | $ | 3,514,628 | ||||||||||
| Total Long-term liabilities |
$ | 3,017,931 | $ | 2,781,761 | $ | 3,419,013 | $ | 3,922,672 | $ | 5,147,348 | ||||||||||
| (in thousands, except per share data) | ||||||||||||||||||||||||
| Three months ended March 31 |
Three months ended June 30 | Six months ended June 30 | ||||||||||||||||||||||
| 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||
| Interest income |
$ | 46,452 | $ | 61,332 | $ | 29,893 | $ | 62,824 | $ | 76,345 | $ | 124,156 | ||||||||||||
| Interest expense |
35,855 | 22,710 | 33,905 | 21,998 | 69,760 | 44,708 | ||||||||||||||||||
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| Net interest income |
10,597 | 38,622 | (4,012 | ) | 40,826 | 6,585 | 79,448 | |||||||||||||||||
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| Impairment (Reversal) |
1,246 | 2,773 | 1,526 | 3,201 | 2,772 | 5,974 | ||||||||||||||||||
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| Net interest income (loss) after impairment |
9,351 | 35,849 | (5,538 | ) | 37,625 | 3,813 | 73,474 | |||||||||||||||||
| Other revenues |
121,629 | 13,500 | 143,646 | 14,013 | 265,275 | 27,513 | ||||||||||||||||||
| Other income |
15,806 | 5,770 | 41,685 | 8,090 | 57,491 | 13,860 | ||||||||||||||||||
| Expenses |
136,563 | 27,254 | 146,812 | 31,586 | 283,375 | 58,840 | ||||||||||||||||||
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| Income (loss) from continuing operations before income taxes |
10,223 | 27,865 | 32,981 | 28,142 | 43,204 | 56,007 | ||||||||||||||||||
| Income tax expense |
295 | — | 540 | — | 835 | — | ||||||||||||||||||
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| Income (loss) from continuing operations |
9,928 | 27,865 | 32,441 | 28,142 | 42,369 | 56,007 | ||||||||||||||||||
| Preferred dividends |
(1,395 | ) | (1,395 | ) | (1,395 | ) | (1,395 | ) | (2,790 | ) | (2,790 | ) | ||||||||||||
| Net loss attributable to noncontrolling interests |
661 | — | 29 | — | 690 | — | ||||||||||||||||||
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| Income (loss) from continuing operations, after preferred dividends, excess of carrying amount of exchanged preferred stock over fair value of consideration paid and net income attributable to noncontrolling interest |
$ | 9,194 | $ | 26,470 | $ | 31,075 | $ | 26,747 | $ | 40,269 | $ | 53,217 | ||||||||||||
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| Income (loss) from continuing operations per share of common stock, after preferred dividends, excess of carrying of exchange preferred stock over fair value of consideration paid and net income attributable to noncontrolling interest. |
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| Basic |
$ | 0.08 | $ | 0.34 | $ | 0.27 | $ | 0.31 | $ | 0.34 | $ | 0.65 | ||||||||||||
| Diluted |
$ | 0.08 | $ | 0.33 | $ | 0.26 | $ | 0.30 | $ | 0.33 | $ | 0.63 | ||||||||||||
| Weighted average number of shares of common stock outstanding: |
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| Basic |
117,151 | 78,379 | 117,199 | 86,409 | 117,175 | 82,416 | ||||||||||||||||||
| Diluted |
121,022 | 80,026 | 120,954 | 88,465 | 120,988 | 84,269 | ||||||||||||||||||
| Dividends declared per share of common stock |
$ | 0.30 | $ | 0.66 | $ | 0.30 | $ | 0.51 | $ | 0.60 | $ | 1.17 | ||||||||||||
| Total Assets |
$ | 3,520,609 | $ | 5,196,003 | $ | 3,264,004 | $ | 2,845,334 | $ | 3,264,004 | $ | 2,845,334 | ||||||||||||
| Total Long-term liabilities |
$ | 2,407,218 | $ | 3,267,363 | $ | 2,166,522 | $ | 1,917,657 | $ | 2,166,522 | $ | 1,917,657 | ||||||||||||