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  "documentTitle": "KKR Real Estate Finance Trust | Investor Presentation Deck | 42 slides",
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  "authorName": "KKR Real Estate Finance Trust",
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  "presentationDate": "2020-11-01 00:00:00",
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      "text": "Although pursuant to the Company's Management Agreement, KREF calculates the incentive compensation and base management fees due to its Manager using Core Earnings before incentive compensation, beginning with the first quarter of 2020, the Company revised its definition of Core Earnings for reporting purposes to be net of incentive compensation.",
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      "text": "(1) Includes ($0.3) million, $0.2 million and $0.1 million non-cash redemption value adjustment of our SNVPS during 3Q'20, 2Q'20 and 3Q'19, respectively.\n(2) Includes $0.1 million and $0.8 million of unrealized loss on RECOP I, an equity method investment, during 3Q'20 and 2Q'20, respectively.\n(3) Represents the add back of $0.4 million GAAP net loss recognized during 3Q'19, offset by $0.2 million of loss representing the difference between cost and sales proceeds.\n(4) Recasted 3Q'19 Core Earnings per Weighted Average Share, Basic and Diluted, to reflect changes in the definition of Core Earnings for reporting purposes. See Appendix page 42 for definitions.",
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      "text": "Net Income (Loss) Attributable to Common Stockholders: $31,351 (Sep 30, 2020), $28,590 (Jun 30, 2020), $23,617 (Sep 30, 2019). Adjustments include Non-cash equity compensation expense, Unrealized (gains) or losses, CECL provision for credit losses, net, Non-cash convertible notes discount amortization, Mezzanine loan write-off, Reversal of previously unrealized loss now realized. Core Earnings: $32,528 (Sep 30, 2020), $25,011 (Jun 30, 2020), $25,010 (Sep 30, 2019). Weighted Average Shares Outstanding (Basic and Diluted) and Core Earnings per Weighted Average Share (Basic and Diluted) are also provided.",
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      "text": "Reconciliation of GAAP Net Income to Core Earnings",
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