0001465128FALSE00014651282026-08-062026-08-06

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 6, 2026

Starwood Property Trust, Inc.

(Exact name of registrant as specified in its charter)

Maryland

001-34436

27-0247747

(State or other jurisdiction of incorporation)

(Commission File Number)

(IRS Employer Identification No.)

2340 Collins Avenue, Suite 700 Miami Beach, FL						33139
(Address of principal						(Zip Code)
executive offices)

Registrant’s telephone number,
including area code:
(305) 695-5500

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class			Trading Symbol(s)			Name of each exchange on which registered
Common stock, $0.01 par value per share			STWD			New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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Item 2.02. Results of Operations and Financial Condition.

On August 6, 2026, Starwood Property Trust, Inc. issued a press release announcing its financial results for the quarter ended June 30, 2026. A copy of the press release is attached as Exhibit 99.1 hereto and incorporated herein by reference.

 

Item 9.01. Financial Statements and Exhibits.

(d)    Exhibits

Exhibit Number			Description
99.1			Press Release, dated August 6, 2026
104			Cover Page Interactive Data File (embedded within the Inline XBRL document)

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EXHIBIT INDEX

Exhibit Number			Description
99.1			Press Release, dated August 6, 2026

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SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: August 6, 2026			STARWOOD PROPERTY TRUST, INC.
			By:			/s/ RINA PANIRY
			Name:			Rina Paniry
			Title:			Chief Financial Officer, Treasurer, Chief Accounting Officer and Principal Financial Officer

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Exhibit 99.1

For Immediate Release

Starwood Property Trust Reports Results for

Quarter Ended June 30, 2026

– Quarterly GAAP Earnings of $0.01 and Distributable Earnings (DE) of $0.40 per Diluted Share –

– Invested $2.5 Billion in the Quarter and $6.7 Billion through July –

– Record Total Assets of $31.8 Billion and Commercial Lending Assets of $17.3 Billion –

– Repurchased $30 Million of Common Shares in the Six Months –

– Dividend of $0.48 per Share –

– Awarded Nareit Gold Investor CARE Award for 10th Time in 12 Years –

MIAMI BEACH, FL, August 6, 2026 /PRNewswire/ -- Starwood Property Trust, Inc. (NYSE: STWD) today announced operating results for the fiscal quarter ended June 30, 2026. The Company delivered second quarter GAAP net income of $6.6 million, and Distributable Earnings (a non-GAAP financial measure) was $151.5 million. See reconciliation tables below.

“Real estate fundamentals are improving steadily in almost every asset class, supported by a drop in construction and broad and robust economic growth. This provides a more constructive backdrop to deploy capital and improving credit in our loan portfolio. For us importantly, it provides a solid foundation to support the values of our real estate owned and underperforming loan assets. We expect to resolve nearly $900 million of underperforming assets by year end or shortly thereafter, returning the trapped equity to higher use cases across all our business lines,” said Barry Sternlicht, Chairman and CEO of Starwood Property Trust.

“We have invested $6.7 billion through July, at double digit return on equity, and our $2.1 billion of corporate debt transactions in the quarter extends our weighted average corporate debt maturity to 3.7 years and lowers our cost of funds, solidifying an already strong balance sheet. This positions us well to continue deploying capital and driving growth across all our business lines,” added Jeffrey DiModica, President of Starwood Property Trust.

Supplemental Schedules

The Company has published supplemental earnings schedules on its website in order to provide additional disclosure and financial information for the benefit of the Company’s stakeholders. Specifically, these materials can be found on the Company’s website in the Investor Relations section under “Quarterly Results” at www.starwoodpropertytrust.com.

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Webcast and Conference Call Information

The Company will host a live webcast and conference call on Thursday, August 6, 2026, at 10:00 a.m. Eastern Time. To listen to a live broadcast, access the site at least 15 minutes prior to the scheduled start time in order to register, download and install any necessary audio software. The webcast is available at www.starwoodpropertytrust.com in the Investor Relations section of the website. The Company encourages use of the webcast due to potential extended wait times to access the conference call via dial-in. 

To Participate via Telephone Conference Call:

Dial in at least 15 minutes prior to start time.

Domestic: 1-877-407-9039

International: 1-201-689-8470

Conference Call Playback:

Domestic: 1-844-512-2921

International: 1-412-317-6671

Passcode: 13758023

The playback can be accessed through August 20, 2026.

About Starwood Property Trust, Inc.

Starwood Property Trust (NYSE: STWD), an affiliate of global private investment firm Starwood Capital Group, is a leading diversified finance company with a core focus on the real estate and infrastructure sectors. As of June 30, 2026, the Company has successfully deployed $120 billion of capital since inception and manages a portfolio of $32 billion across debt and equity investments. Starwood Property Trust’s investment objective is to generate attractive and stable returns for shareholders, primarily through dividends, by leveraging a premiere global organization to identify and execute on the best risk adjusted returning investments across its target assets. Additional information can be found at www.starwoodpropertytrust.com.

Forward-Looking Statements

Statements in this press release which are not historical fact may be deemed forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are developed by combining currently available information with our beliefs and assumptions and are generally identified by the words “believe,” “expect,” “anticipate” and other similar expressions.  Although Starwood Property Trust, Inc. believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. Factors that could cause actual results to differ materially from the Company’s expectations include, but are not limited to, completion of pending investments and financings, continued ability to acquire additional investments, competition within the finance and real estate industries, availability of financing, and other risks detailed under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025, as well as other risks and uncertainties set forth from time to time in the Company’s reports filed with the SEC, including its Quarterly Report on Form 10-Q for the quarter ended June 30, 2026.

In light of these risks and uncertainties, there can be no assurances that the results referred to in the forward-looking statements contained herein will in fact occur. Except to the extent required by applicable law or regulation, we undertake no obligation to, and expressly disclaim any such obligation to, update or revise any forward-looking statements to reflect changed assumptions, the occurrence of anticipated or unanticipated events, changes to future results over time or otherwise.

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Additional information can be found on the Company’s website at www.starwoodpropertytrust.com.

Contact:
Zachary Tanenbaum

Starwood Property Trust

Phone: 203-422-7788

Email: [email protected]

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Starwood Property Trust, Inc. and Subsidiaries

Condensed Consolidated Statement of Operations by Segment

For the three months ended June 30, 2026

(Amounts in thousands)

			Commercial and Residential Lending Segment						Infrastructure Lending Segment						Property Segment						Investing and Servicing Segment						Corporate						Subtotal						Securitization VIEs						Total
Revenues:
Interest income from loans			$	327,151					$	66,991					$	—					$	4,273					$	—					$	398,415					$	—					$	398,415
Interest income from investment securities			15,344						481						—						22,170						—						37,995						(33,245)						4,750
Servicing fees			111						—						—						20,476						—						20,587						(3,920)						16,667
Rental income			19,808						—						63,827						4,219						—						87,854						—						87,854
Other revenues			1,800						1,474						362						1,524						822						5,982						—						5,982
Total revenues			364,214						68,946						64,189						52,662						822						550,833						(37,165)						513,668
Costs and expenses:
Management fees			165						—						—						—						30,392						30,557						—						30,557
Interest expense			160,750						38,625						28,775						9,117						107,564						344,831						(254)						344,577
General and administrative			14,979						6,015						7,925						23,661						4,114						56,694						—						56,694
Costs of rental operations			16,161						—						7,254						2,898						—						26,313						—						26,313
Depreciation and amortization			4,780						9						29,137						1,082						252						35,260						—						35,260
Credit loss provision, net			29,816						348						—						—						—						30,164						—						30,164
Other expense			88						787						227						101						—						1,203						—						1,203
Total costs and expenses			226,739						45,784						73,318						36,859						142,322						525,022						(254)						524,768
Other income (loss):
Change in net assets related to consolidated VIEs			—						—						—						—						—						—						33,087						33,087
Change in fair value of servicing rights			—						—						—						1,018						—						1,018						726						1,744
Change in fair value of investment securities, net			(1,587)						—						—						(1,717)						—						(3,304)						3,252						(52)
Change in fair value of mortgage loans, net			(12,711)						—						—						12,650						—						(61)						—						(61)
Income from affordable housing fund investments			—						—						4,929						—						—						4,929						—						4,929
Earnings from unconsolidated entities			—						2,677						—						193						—						2,870						(154)						2,716
Gain on sale of investments and other assets, net			88						—						27						2,264						—						2,379						—						2,379
Gain (loss) on derivative financial instruments, net			21,529						350						8,354						983						(34,240)						(3,024)						—						(3,024)
Foreign currency (loss) gain, net			(5,719)						—						13						—						—						(5,706)						—						(5,706)
Other (loss) income, net			(2,597)						—						(1,092)						6						—						(3,683)						—						(3,683)
Total other (loss) income			(997)						3,027						12,231						15,397						(34,240)						(4,582)						36,911						32,329
Income (loss) before income taxes			136,478						26,189						3,102						31,200						(175,740)						21,229						—						21,229
Income tax (provision) benefit			(2,536)						(95)						8						(3,601)						—						(6,224)						—						(6,224)
Net income (loss)			133,942						26,094						3,110						27,599						(175,740)						15,005						—						15,005
Net income attributable to non-controlling interests			(4)						—						(5,325)						(3,119)						—						(8,448)						—						(8,448)
Net income (loss) attributable to Starwood Property Trust, Inc.			$	133,938					$	26,094					$	(2,215)					$	24,480					$	(175,740)					$	6,557					$	—					$	6,557

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Definition of Distributable Earnings

Distributable Earnings, a non-GAAP financial measure, is used to compute the Company’s incentive fees to its external manager and is an appropriate supplemental disclosure for a mortgage REIT. For the Company’s purposes, Distributable Earnings is defined as GAAP net income (loss) excluding non-cash equity compensation expense, the incentive fee due to the Company’s external manager, acquisition costs for successful acquisitions, depreciation and amortization of real estate and associated intangibles, any unrealized gains, losses or other non-cash items recorded in net income (loss) for the period and, to the extent deducted from net income (loss), distributions payable with respect to equity securities of subsidiaries issued in exchange for properties or interests therein. The amount is adjusted to exclude one-time events pursuant to changes in GAAP and certain other non-cash adjustments as determined by the Company’s external manager and approved by a majority of the Company’s independent directors. Refer to the Company's Quarterly Report on Form 10-Q for the quarter ended June 30, 2026 for additional information regarding Distributable Earnings.

Reconciliation of Net Income to Distributable Earnings

For the three months ended June 30, 2026

(Amounts in thousands except per share data)

			Commercial and Residential Lending Segment						Infrastructure Lending Segment						Property Segment						Investing and Servicing Segment						Corporate						Total
Net income (loss) attributable to Starwood Property Trust, Inc.			$	133,938					$	26,094					$	(2,215)					$	24,480					$	(175,740)					$	6,557
Add / (Deduct):
Non-controlling interests attributable to Woodstar II Class A Units			—						—						4,629						—						—						4,629
Non-controlling interests attributable to unrealized gains/losses			—						—						(2,724)						(2,226)						—						(4,950)
Non-cash equity compensation expense			2,585						788						2,014						1,449						6,477						13,313
Depreciation and amortization			4,817						—						29,632						1,121						—						35,570
Straight-line rent adjustment			—						—						(1,697)						57						—						(1,640)
Interest income adjustment for loans and securities			4,675						—						—						12,686						—						17,361
Consolidated income tax provision (benefit) associated with fair value adjustments			2,536						95						(8)						3,601						—						6,224
Other non-cash items			5						447						(82)						(407)						—						(37)
Reversal of GAAP unrealized and realized (gains) / losses on:
Loans			12,711						—						—						(12,650)						—						61
Credit loss provision, net			29,816						348						—						—						—						30,164
Securities			1,587						—						—						1,717						—						3,304
Woodstar Fund investments			—						—						(4,929)						—						—						(4,929)
Derivatives			(21,529)						(350)						(8,354)						(983)						34,240						3,024
Foreign currency			5,719						—						(13)						—						—						5,706
Earnings from unconsolidated entities			—						(2,677)						—						(193)						—						(2,870)
Sales of properties			(32)						—						(27)						(2,264)						—						(2,323)
Recognition of Distributable realized gains / (losses) on:
Loans			(454)						—						—						12,636						—						12,182
Securities			(51)						—						—						(682)						—						(733)
Woodstar Fund investments			—						—						18,208						—						—						18,208
Derivatives			8,570						248						(235)						1,650						(2,907)						7,326
Foreign currency			803						—						13						—						—						816
Earnings from unconsolidated entities			—						2,146						—						469						—						2,615
Sales of properties			32						—						(35)						1,928						—						1,925
Distributable Earnings (Loss)			$	185,728					$	27,139					$	34,177					$	42,389					$	(137,930)					$	151,503
Distributable Earnings (Loss) per Weighted Average Diluted Share			$	0.49					$	0.07					$	0.09					$	0.11					$	(0.36)					$	0.40

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Starwood Property Trust, Inc. and Subsidiaries

Condensed Consolidated Statement of Operations by Segment

For the six months ended June 30, 2026

(Amounts in thousands)

			Commercial and Residential Lending Segment						Infrastructure Lending Segment						Property Segment						Investing and Servicing Segment						Corporate						Subtotal						Securitization VIEs						Total
Revenues:
Interest income from loans			$	637,465					$	128,429					$	—					$	6,332					$	—					$	772,226					$	—					$	772,226
Interest income from investment securities			30,981						865						—						46,103						—						77,949						(67,761)						10,188
Servicing fees			223						—						—						72,095						—						72,318						(7,631)						64,687
Rental income			36,113						—						124,670						7,042						—						167,825						—						167,825
Other revenues			4,013						2,947						819						1,927						1,492						11,198						—						11,198
Total revenues			708,795						132,241						125,489						133,499						1,492						1,101,516						(75,392)						1,026,124
Costs and expenses:
Management fees			197						—						—						—						66,542						66,739						—						66,739
Interest expense			315,673						75,321						56,726						15,943						210,218						673,881						(398)						673,483
General and administrative			31,771						11,933						16,793						45,589						8,941						115,027						—						115,027
Costs of rental operations			29,377						—						14,514						5,556						—						49,447						—						49,447
Depreciation and amortization			9,017						19						57,215						2,232						503						68,986						—						68,986
Credit loss provision (reversal), net			30,402						(615)						—						—						—						29,787						—						29,787
Other expense			165						899						299						241						—						1,604						—						1,604
Total costs and expenses			416,602						87,557						145,547						69,561						286,204						1,005,471						(398)						1,005,073
Other income (loss):
Change in net assets related to consolidated VIEs			—						—						—						—						—						—						65,589						65,589
Change in fair value of servicing rights			—						—						—						2,022						—						2,022						(815)						1,207
Change in fair value of investment securities, net			(1,136)						—						—						(9,638)						—						(10,774)						10,811						37
Change in fair value of mortgage loans, net			(33,691)						—						—						20,962						—						(12,729)						—						(12,729)
Income from affordable housing fund investments			—						—						17,393						—						—						17,393						—						17,393
Earnings from unconsolidated entities			—						3,520						—						605						—						4,125						(591)						3,534
Gain on sale of investments and other assets, net			298						—						496						2,264						—						3,058						—						3,058
Gain (loss) on derivative financial instruments, net			37,892						439						10,630						1,225						(55,673)						(5,487)						—						(5,487)
Foreign currency (loss) gain, net			(11,834)						—						38						—						—						(11,796)						—						(11,796)
Loss on extinguishment of debt			—						(31)						(304)						—						—						(335)						—						(335)
Other (loss) income, net			(5,472)						51						(1,401)						6						—						(6,816)						—						(6,816)
Total other (loss) income			(13,943)						3,979						26,852						17,446						(55,673)						(21,339)						74,994						53,655
Income (loss) before income taxes			278,250						48,663						6,794						81,384						(340,385)						74,706						—						74,706
Income tax benefit (provision)			9,192						(145)						25						(11,351)						—						(2,279)						—						(2,279)
Net income (loss)			287,442						48,518						6,819						70,033						(340,385)						72,427						—						72,427
Net income attributable to non-controlling interests			(7)						—						(12,152)						(1,833)						—						(13,992)						—						(13,992)
Net income (loss) attributable to Starwood Property Trust, Inc.			$	287,435					$	48,518					$	(5,333)					$	68,200					$	(340,385)					$	58,435					$	—					$	58,435

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Reconciliation of Net Income to Distributable Earnings

For the six months ended June 30, 2026

(Amounts in thousands except per share data)

			Commercial and Residential Lending Segment						Infrastructure Lending Segment						Property Segment						Investing and Servicing Segment						Corporate						Total
Net income (loss) attributable to Starwood Property Trust, Inc.			$	287,435					$	48,518					$	(5,333)					$	68,200					$	(340,385)					$	58,435
Add / (Deduct):
Non-controlling interests attributable to Woodstar II Class A Units			—						—						9,258						—						—						9,258
Non-controlling interests attributable to unrealized gains/losses			—						—						(4,031)						(6,971)						—						(11,002)
Non-cash equity compensation expense			5,669						1,540						4,009						2,874						13,215						27,307
Management incentive fee			—						—						—						—						5,567						5,567
Depreciation and amortization			9,090						—						58,206						2,313						—						69,609
Straight-line rent adjustment			—						—						(3,346)						171						—						(3,175)
Interest income adjustment for loans and securities			9,749						—						—						18,062						—						27,811
Consolidated income tax (benefit) provision associated with fair value adjustments			(9,192)						145						(25)						11,351						—						2,279
Other non-cash items			7						447						(164)						(813)						—						(523)
Reversal of GAAP unrealized and realized (gains) / losses on:
Loans			33,691						—						—						(20,962)						—						12,729
Credit loss provision (reversal), net			30,402						(615)						—						—						—						29,787
Securities			1,136						—						—						9,638						—						10,774
Woodstar Fund investments			—						—						(17,393)						—						—						(17,393)
Derivatives			(37,892)						(439)						(10,630)						(1,225)						55,673						5,487
Foreign currency			11,834						—						(38)						—						—						11,796
Earnings from unconsolidated entities			—						(3,520)						—						(605)						—						(4,125)
Sales of properties			(356)						—						(496)						(2,264)						—						(3,116)
Recognition of Distributable realized gains / (losses) on:
Loans			(822)						—						—						21,194						—						20,372
Securities			(137)						—						—						(5,936)						—						(6,073)
Woodstar Fund investments			—						—						37,029						—						—						37,029
Derivatives			21,205						279						(3,324)						1,926						(5,724)						14,362
Foreign currency			942						—						38						—						—						980
Earnings from unconsolidated entities			—						2,657						—						905						—						3,562
Sales of properties			(4,753)						—						(135)						1,928						—						(2,960)
Distributable Earnings (Loss)			$	358,008					$	49,012					$	63,625					$	99,786					$	(271,654)					$	298,777
Distributable Earnings (Loss) per Weighted Average Diluted Share			$	0.94					$	0.13					$	0.16					$	0.26					$	(0.71)					$	0.78

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Starwood Property Trust, Inc. and Subsidiaries

Condensed Consolidated Balance Sheet by Segment

As of June 30, 2026

(Amounts in thousands)

			Commercial and Residential Lending Segment						Infrastructure Lending Segment						Property Segment						Investing and Servicing Segment						Corporate						Subtotal						Securitization VIEs						Total
Assets:
Cash and cash equivalents			$	22,616					$	206,331					$	30,912					$	9,281					$	98,452					$	367,592					$	—					$	367,592
Restricted cash			177,912						46,173						2,802						189						45,688						272,764						—						272,764
Loans held-for-investment, net			16,965,888						2,851,080						—						—						—						19,816,968						—						19,816,968
Loans held-for-sale			2,154,653						—						—						62,828						—						2,217,481						—						2,217,481
Investment securities			556,876						123,934						—						1,262,903						—						1,943,713						(1,540,884)						402,829
Properties, net			1,028,671						—						2,938,255						31,743						—						3,998,669						—						3,998,669
Investments of consolidated affordable housing fund			—						—						1,725,368						—						—						1,725,368						—						1,725,368
Investments in unconsolidated entities			8,514						61,517						—						33,200						—						103,231						(15,030)						88,201
Goodwill			—						119,409						—						140,437						—						259,846						—						259,846
Intangible assets, net			2,522						—						405,459						71,062						—						479,043						(38,069)						440,974
Derivative assets			23,233						—						931						242						—						24,406						—						24,406
Accrued interest receivable			195,044						3,611						4						493						1,664						200,816						—						200,816
Other assets			195,215						20,947						111,988						(16,670)						50,735						362,215						—						362,215
VIE assets, at fair value			—						—						—						—						—						—						30,868,147						30,868,147
Total Assets			$	21,331,144					$	3,433,002					$	5,215,719					$	1,595,708					$	196,539					$	31,772,112					$	29,274,164					$	61,046,276
Liabilities and Equity
Liabilities:
Accounts payable, accrued expenses and other liabilities			$	232,135					$	38,666					$	123,067					$	37,521					$	144,167					$	575,556					$	—					$	575,556
Related-party payable			—						—						—						—						27,033						27,033						—						27,033
Dividends payable			—						—						—						—						180,744						180,744						—						180,744
Derivative liabilities			64,972						—						—						—						26,601						91,573						—						91,573
Secured financing agreements, net			9,496,528						716,722						731,638						583,078						2,491,581						14,019,547						(19,656)						13,999,891
Securitized financing, net			1,603,874						1,810,038						1,397,599						—						—						4,811,511						—						4,811,511
Unsecured senior notes, net			—						—						—						—						4,882,722						4,882,722						—						4,882,722
VIE liabilities, at fair value			—						—						—						—						—						—						29,293,820						29,293,820
Total Liabilities			11,397,509						2,565,426						2,252,304						620,599						7,752,848						24,588,686						29,274,164						53,862,850
Temporary Equity: Redeemable non-controlling interests			—						—						356,377						—						—						356,377						—						356,377
Permanent Equity:
Starwood Property Trust, Inc. Stockholders’ Equity:
Common stock			—						—						—						—						3,798						3,798						—						3,798
Additional paid-in capital			2,904,306						465,056						329,107						(974,433)						4,267,303						6,991,339						—						6,991,339
Treasury stock			—						—						—						—						(167,962)						(167,962)						—						(167,962)
Retained earnings (accumulated deficit)			7,019,517						402,520						2,072,106						1,827,396						(11,659,448)						(337,909)						—						(337,909)
Accumulated other comprehensive income			9,697						—						—						—						—						9,697						—						9,697
Total Starwood Property Trust, Inc. Stockholders’ Equity			9,933,520						867,576						2,401,213						852,963						(7,556,309)						6,498,963						—						6,498,963
Non-controlling interests in consolidated subsidiaries			115						—						205,825						122,146						—						328,086						—						328,086
Total Permanent Equity			9,933,635						867,576						2,607,038						975,109						(7,556,309)						6,827,049						—						6,827,049
Total Liabilities and Equity			$	21,331,144					$	3,433,002					$	5,215,719					$	1,595,708					$	196,539					$	31,772,112					$	29,274,164					$	61,046,276

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