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Ares Commercial Real Estate Corp (ACRE)

Income Statement

Standardized | As Reported Annual | Quarterly | TTM
  Older >>
In millions, except per share itemsDec-31-21Dec-31-20Dec-31-19Dec-31-18Dec-31-17Dec-31-16Dec-31-15Dec-31-14
   10-K10-K10-K10-K10-K10-K10-K10-K
        Interest income on loans  133.6121.1114.8118.397.582.086.370.5
    Total interest income  133.6121.1114.8118.397.582.086.370.5
    Total interest expense  -50.1-51.9-62.6-63.0-51.2-36.9-36.3-33.6
Net interest income  83.669.152.255.346.345.150.036.9
Provision for loan losses  0.020.2      
Net interest income after provision for loan losses  83.548.952.255.346.345.150.0 
Non-interest expenses  40.936.339.816.215.014.413.714.5
Pre-tax income before non-recurring items  61.222.237.539.030.630.736.322.3
Non-recurring items         -0.7
Pre-tax income  61.222.237.539.030.630.736.323.0
Income taxes  0.70.40.50.40.20.20.00.2
            Tax rate  1.2%1.6%1.4%1.1%0.6%0.7% 1.0%
Minority interest      0.0-4.5-9.0-0.2
Earnings from continuing ops  60.521.837.038.630.425.927.322.5
Earnings from discontinued ops       14.47.01.9
Net income  60.521.837.038.630.440.334.324.4
            Net margin  59.2%26.4%47.9%69.8%65.6%89.4%68.6%65.0%
   
Basic EPS  $1.43$0.66$1.29$1.35$1.07$0.91$0.96$0.79
Diluted EPS  $1.42$0.66$1.28$1.35$1.07$0.91$0.95$0.79
   
Shares outstanding (basic)  42.433.028.628.528.528.528.528.5
Shares outstanding (diluted)  42.733.228.828.728.628.528.628.6
   
EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.  

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