2016 Q4 Form 10-Q Financial Statement

#000093023616000063 Filed on November 08, 2016

View on sec.gov

Income Statement

Concept 2016 Q4 2016 Q3 2015 Q3
Revenue $56.33M $60.91M $63.48M
YoY Change -18.15% -4.06% 0.21%
Cost Of Revenue $20.50M $21.60M $23.90M
YoY Change -18.0% -9.62% 2.14%
Gross Profit $35.80M $39.30M $39.60M
YoY Change -18.26% -0.76% -1.0%
Gross Profit Margin 63.55% 64.53% 62.38%
Selling, General & Admin $15.50M $17.60M $19.80M
YoY Change -14.84% -11.11% 9.39%
% of Gross Profit 43.3% 44.78% 50.0%
Research & Development $2.692M $2.355M
YoY Change 14.31% -32.0%
% of Gross Profit 6.85% 5.95%
Depreciation & Amortization $300.0K $200.0K $200.0K
YoY Change 0.0% 0.0% 0.0%
% of Gross Profit 0.84% 0.51% 0.51%
Operating Expenses $17.82M $20.36M $24.50M
YoY Change -21.27% -16.91% 14.44%
Operating Profit $17.98M $18.95M $15.10M
YoY Change -15.06% 25.44% -18.77%
Interest Expense $20.54M $21.60M $23.88M
YoY Change -17.98% -9.54% 2.25%
% of Operating Profit 114.25% 114.0% 158.08%
Other Income/Expense, Net
YoY Change
Pretax Income $27.70M $53.53M $11.76M
YoY Change -32.44% 355.14% -76.62%
Income Tax $2.400M $972.0K -$7.404M
% Of Pretax Income 8.66% 1.82% -62.96%
Net Earnings $25.36M $52.55M $19.16M
YoY Change -38.25% 174.23% -57.5%
Net Earnings / Revenue 45.01% 86.29% 30.19%
Basic Earnings Per Share $0.32 $0.67 $0.22
Diluted Earnings Per Share $0.31 $0.58 $0.22
COMMON SHARES
Basic Shares Outstanding 76.66M shares 76.68M shares 83.79M shares
Diluted Shares Outstanding 97.83M shares 85.07M shares

Balance Sheet

Concept 2016 Q4 2016 Q3 2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.231B $1.158B $1.321B
YoY Change -15.28% -12.29% -14.5%
Cash & Equivalents $213.0M $221.4M $235.4M
Short-Term Investments $1.018B $936.9M $1.085B
Other Short-Term Assets $2.000M $2.000M $4.000M
YoY Change -50.0% -50.0% 100.0%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $284.0M $321.0M $360.0M
YoY Change -8.68% -10.83% 73.08%
LONG-TERM ASSETS
Property, Plant & Equipment $2.750M $2.850M $5.070M
YoY Change -33.2% -43.79% 123.05%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $1.137B $1.043B $1.248B
YoY Change -20.21% -16.43% -18.43%
Other Assets $9.000M $2.000M $20.00M
YoY Change 50.0% -90.0% -9.09%
Total Long-Term Assets $5.199B $5.552B $5.909B
YoY Change -12.01% -6.05% 9.35%
TOTAL ASSETS
Total Short-Term Assets $284.0M $321.0M $360.0M
Total Long-Term Assets $5.199B $5.552B $5.909B
Total Assets $5.483B $5.873B $6.269B
YoY Change -11.84% -6.32% 11.71%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.151M $1.292M $8.341M
YoY Change -75.84% -84.51%
Accrued Expenses $33.00M $34.00M $34.00M
YoY Change 17.86% 0.0% 17.24%
Deferred Revenue
YoY Change
Short-Term Debt $791.5M $1.117B $1.873B
YoY Change -57.33% -40.33% -0.79%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $826.0M $1.152B $1.916B
YoY Change -56.25% -39.87% -0.26%
LONG-TERM LIABILITIES
Long-Term Debt $3.394B $3.440B $3.001B
YoY Change 10.3% 14.63% 27.54%
Other Long-Term Liabilities $113.0M $150.0M $136.0M
YoY Change 3.67% 10.29% 112.5%
Total Long-Term Liabilities $3.507B $3.590B $3.137B
YoY Change 10.08% 14.44% 29.79%
TOTAL LIABILITIES
Total Short-Term Liabilities $826.0M $1.152B $1.916B
Total Long-Term Liabilities $3.507B $3.590B $3.137B
Total Liabilities $4.334B $4.742B $5.062B
YoY Change -14.58% -6.32% 16.51%
SHAREHOLDERS EQUITY
Retained Earnings $1.150B $1.125B $977.6M
YoY Change 12.88% 15.03% 11.13%
Common Stock $1.677B $1.678B $1.748B
YoY Change -1.15% -3.96% -1.23%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.149B $1.130B $1.207B
YoY Change
Total Liabilities & Shareholders Equity $5.483B $5.873B $6.269B
YoY Change -11.84% -6.32% 11.71%

Cashflow Statement

Concept 2016 Q4 2016 Q3 2015 Q3
OPERATING ACTIVITIES
Net Income $25.36M $52.55M $19.16M
YoY Change -38.25% 174.23% -57.5%
Depreciation, Depletion And Amortization $300.0K $200.0K $200.0K
YoY Change 0.0% 0.0% 0.0%
Cash From Operating Activities $210.4M -$395.4M -$763.6M
YoY Change -205.04% -48.22% 2.21%
INVESTING ACTIVITIES
Capital Expenditures $15.30M -$1.500M -$7.300M
YoY Change -268.13% -79.45% -81.14%
Acquisitions
YoY Change
Other Investing Activities $172.5M $418.9M $167.0M
YoY Change -14.77% 150.84% -71.84%
Cash From Investing Activities $187.7M $417.4M $159.6M
YoY Change -2.95% 161.53% -71.2%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -403.7M -17.50M 612.9M
YoY Change 4823.17% -102.86% 230.58%
NET CHANGE
Cash From Operating Activities 210.4M -395.4M -763.6M
Cash From Investing Activities 187.7M 417.4M 159.6M
Cash From Financing Activities -403.7M -17.50M 612.9M
Net Change In Cash -5.600M 4.500M 8.900M
YoY Change -62.91% -49.44% -218.67%
FREE CASH FLOW
Cash From Operating Activities $210.4M -$395.4M -$763.6M
Capital Expenditures $15.30M -$1.500M -$7.300M
Free Cash Flow $195.1M -$393.9M -$756.3M
YoY Change -202.04% -47.92% 6.76%

Facts In Submission

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9002000 USD
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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10595000 USD
CY2015Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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CY2016Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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CY2015Q4 us-gaap Assets
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CY2016Q3 us-gaap Assets
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CY2015Q4 us-gaap Available For Sale Securities
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CY2016Q3 us-gaap Available For Sale Securities
AvailableForSaleSecurities
595641000 USD
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4000000 USD
us-gaap Available For Sale Securities Gross Realized Gain Loss Net
AvailableForSaleSecuritiesGrossRealizedGainLossNet
14000000 USD
us-gaap Available For Sale Securities Gross Realized Gains
AvailableForSaleSecuritiesGrossRealizedGains
14315000 USD
CY2016Q3 us-gaap Available For Sale Securities Gross Realized Gain Loss Net
AvailableForSaleSecuritiesGrossRealizedGainLossNet
2000000 USD
us-gaap Available For Sale Securities Gross Realized Gain Loss Net
AvailableForSaleSecuritiesGrossRealizedGainLossNet
20000000 USD
CY2015Q3 us-gaap Available For Sale Securities Gross Realized Gains
AvailableForSaleSecuritiesGrossRealizedGains
4053000 USD
CY2016Q3 us-gaap Available For Sale Securities Gross Realized Gains
AvailableForSaleSecuritiesGrossRealizedGains
1990000 USD
us-gaap Available For Sale Securities Gross Realized Gains
AvailableForSaleSecuritiesGrossRealizedGains
22395000 USD
CY2015Q3 us-gaap Available For Sale Securities Gross Realized Losses
AvailableForSaleSecuritiesGrossRealizedLosses
0 USD
us-gaap Available For Sale Securities Gross Realized Losses
AvailableForSaleSecuritiesGrossRealizedLosses
0 USD
CY2016Q3 us-gaap Available For Sale Securities Gross Realized Losses
AvailableForSaleSecuritiesGrossRealizedLosses
0 USD
us-gaap Available For Sale Securities Gross Realized Losses
AvailableForSaleSecuritiesGrossRealizedLosses
2293000 USD
CY2015Q4 us-gaap Availableforsale Securities In Unrealized Loss Positions Qualitative Disclosure Number Of Positions1
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32 Investment
CY2016Q3 us-gaap Availableforsale Securities In Unrealized Loss Positions Qualitative Disclosure Number Of Positions1
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15 Investment
CY2014Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
269730000 USD
CY2015Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
235362000 USD
CY2015Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
220229000 USD
CY2016Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
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us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
1143000 USD
CY2015Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.28
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.84
CY2016Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.28
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.84
CY2015Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2016Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2015Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
180000000 shares
CY2016Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
180000000 shares
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CommonStockSharesIssued
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CY2016Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
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CY2015Q4 us-gaap Common Stock Shares Outstanding
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78162765 shares
CY2016Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
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CY2016Q3 us-gaap Common Stock Value
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CY2015Q3 us-gaap Communications And Information Technology
CommunicationsAndInformationTechnology
2355000 USD
us-gaap Communications And Information Technology
CommunicationsAndInformationTechnology
6718000 USD
CY2016Q3 us-gaap Communications And Information Technology
CommunicationsAndInformationTechnology
2692000 USD
us-gaap Communications And Information Technology
CommunicationsAndInformationTechnology
7274000 USD
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40062000 USD
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60937000 USD
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
68619000 USD
CY2015Q3 us-gaap Contractually Specified Servicing Fees Amount
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10028000 USD
us-gaap Contractually Specified Servicing Fees Amount
ContractuallySpecifiedServicingFeesAmount
28199000 USD
CY2016Q3 us-gaap Contractually Specified Servicing Fees Amount
ContractuallySpecifiedServicingFeesAmount
9943000 USD
us-gaap Contractually Specified Servicing Fees Amount
ContractuallySpecifiedServicingFeesAmount
32199000 USD
CY2015Q3 us-gaap Contractually Specified Servicing Fees Late Fees And Ancillary Fees Earned In Exchange For Servicing Financial Assets
ContractuallySpecifiedServicingFeesLateFeesAndAncillaryFeesEarnedInExchangeForServicingFinancialAssets
8715000 USD
us-gaap Contractually Specified Servicing Fees Late Fees And Ancillary Fees Earned In Exchange For Servicing Financial Assets
ContractuallySpecifiedServicingFeesLateFeesAndAncillaryFeesEarnedInExchangeForServicingFinancialAssets
24495000 USD
CY2016Q3 us-gaap Contractually Specified Servicing Fees Late Fees And Ancillary Fees Earned In Exchange For Servicing Financial Assets
ContractuallySpecifiedServicingFeesLateFeesAndAncillaryFeesEarnedInExchangeForServicingFinancialAssets
8726000 USD
us-gaap Depreciation And Amortization
DepreciationAndAmortization
510000 USD
us-gaap Depreciation And Amortization
DepreciationAndAmortization
849000 USD
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14799000 USD
us-gaap Contractually Specified Servicing Fees Late Fees And Ancillary Fees Earned In Exchange For Servicing Financial Assets
ContractuallySpecifiedServicingFeesLateFeesAndAncillaryFeesEarnedInExchangeForServicingFinancialAssets
27241000 USD
CY2015Q4 us-gaap Cumulative Dividends
CumulativeDividends
1661149000 USD
CY2016Q3 us-gaap Cumulative Dividends
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1727555000 USD
CY2015Q4 us-gaap Derivative Asset Fair Value Gross Liability
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0 USD
CY2015Q4 us-gaap Derivative Asset Fair Value Offset Against Collateral Net Of Not Subject To Master Netting Arrangement Policy Election
DerivativeAssetFairValueOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection
1243000 USD
CY2016Q3 us-gaap Derivative Asset Fair Value Offset Against Collateral Net Of Not Subject To Master Netting Arrangement Policy Election
DerivativeAssetFairValueOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection
250000 USD
CY2015Q4 us-gaap Derivative Assets
DerivativeAssets
16393000 USD
CY2016Q3 us-gaap Derivative Assets
DerivativeAssets
36880000 USD
CY2015Q4 us-gaap Derivative Collateral Obligation To Return Cash
DerivativeCollateralObligationToReturnCash
2930000 USD
CY2016Q3 us-gaap Derivative Collateral Obligation To Return Cash
DerivativeCollateralObligationToReturnCash
4025000 USD
CY2015Q4 us-gaap Derivative Collateral Obligation To Return Securities
DerivativeCollateralObligationToReturnSecurities
7549000 USD
CY2016Q3 us-gaap Derivative Collateral Obligation To Return Securities
DerivativeCollateralObligationToReturnSecurities
26569000 USD
CY2015Q4 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
11722000 USD
CY2016Q3 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
30844000 USD
CY2015Q4 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
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CY2016Q3 us-gaap Derivative Fair Value Of Derivative Net
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CY2016Q3 us-gaap Derivative Liabilities
DerivativeLiabilities
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us-gaap Dividends Common Stock
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us-gaap Dividends Common Stock
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us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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CY2016Q3 us-gaap Earnings Per Share Basic
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us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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EarningsPerShareDiluted
0.22
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.69
CY2016Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.58
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.23
us-gaap Effective Income Tax Rate Continuing Operations
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us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
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us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.34
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.34
us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.209
us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.066
us-gaap Effective Income Tax Rate Reconciliation Deductions
EffectiveIncomeTaxRateReconciliationDeductions
0.365
us-gaap Effective Income Tax Rate Reconciliation Deductions
EffectiveIncomeTaxRateReconciliationDeductions
0.217
us-gaap Effective Income Tax Rate Reconciliation Deductions Dividends
EffectiveIncomeTaxRateReconciliationDeductionsDividends
0.458
us-gaap Effective Income Tax Rate Reconciliation Deductions Dividends
EffectiveIncomeTaxRateReconciliationDeductionsDividends
0.249
us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.072
us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.072
CY2015Q4 us-gaap Employee Related Liabilities Current And Noncurrent
EmployeeRelatedLiabilitiesCurrentAndNoncurrent
17527000 USD
CY2016Q3 us-gaap Employee Related Liabilities Current And Noncurrent
EmployeeRelatedLiabilitiesCurrentAndNoncurrent
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us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
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CY2015Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
23608000 USD
CY2016Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
15000000 USD
CY2015Q4 us-gaap Federal Home Loan Bank Stock
FederalHomeLoanBankStock
34437000 USD
CY2016Q3 us-gaap Federal Home Loan Bank Stock
FederalHomeLoanBankStock
43393000 USD
CY2016Q3 us-gaap Financial Instruments Owned And Pledged As Collateral At Fair Value
FinancialInstrumentsOwnedAndPledgedAsCollateralAtFairValue
10000000 USD
CY2015Q3 us-gaap Gain Loss On Oil And Gas Hedging Activity
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us-gaap Gain Loss On Sale Of Investments
GainLossOnSaleOfInvestments
16170000 USD
us-gaap Gain Loss On Sale Of Investments
GainLossOnSaleOfInvestments
26037000 USD
CY2015Q3 us-gaap General And Administrative Expense
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us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
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CY2016Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1056000 USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
3501000 USD
CY2015Q4 us-gaap Guaranty Assets
GuarantyAssets
5697000 USD
CY2016Q3 us-gaap Guaranty Assets
GuarantyAssets
3627000 USD
CY2015Q4 us-gaap Guaranty Liabilities
GuarantyLiabilities
22704000 USD
CY2016Q3 us-gaap Guaranty Liabilities
GuarantyLiabilities
23011000 USD
CY2015Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
11760000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
50757000 USD
CY2016Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
53525000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
107224000 USD
CY2015Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-10272000 USD
CY2016Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
972000 USD
us-gaap Income Tax Expense Benefit
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1327000 USD
us-gaap Income Taxes Paid
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55000 USD
us-gaap Income Taxes Paid
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826000 USD
us-gaap Increase Decrease In Operating Assets
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us-gaap Increase Decrease In Operating Assets
IncreaseDecreaseInOperatingAssets
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us-gaap Increase Decrease In Operating Liabilities
IncreaseDecreaseInOperatingLiabilities
26094000 USD
us-gaap Increase Decrease In Operating Liabilities
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7728000 USD
us-gaap Increase Decrease In Restricted Cash
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7733000 USD
us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
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CY2015Q3 us-gaap Increase Decrease In Trading Securities
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us-gaap Increase Decrease In Trading Securities
IncreaseDecreaseInTradingSecurities
-16000000 USD
CY2016Q3 us-gaap Increase Decrease In Trading Securities
IncreaseDecreaseInTradingSecurities
9000000 USD
us-gaap Increase Decrease In Trading Securities
IncreaseDecreaseInTradingSecurities
5000000 USD
CY2015Q3 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
0 shares
us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
0 shares
CY2016Q3 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
21096738 shares
us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
21145987 shares
CY2015Q3 us-gaap Interest And Dividend Income Operating
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us-gaap Interest And Dividend Income Operating
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CY2016Q3 us-gaap Interest And Dividend Income Operating
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us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
190021000 USD
CY2015Q3 us-gaap Interest And Fee Income Loans Commercial Real Estate
InterestAndFeeIncomeLoansCommercialRealEstate
11191000 USD
us-gaap Interest And Fee Income Loans Commercial Real Estate
InterestAndFeeIncomeLoansCommercialRealEstate
34784000 USD
CY2016Q3 us-gaap Interest And Fee Income Loans Commercial Real Estate
InterestAndFeeIncomeLoansCommercialRealEstate
6453000 USD
us-gaap Interest And Fee Income Loans Consumer Real Estate
InterestAndFeeIncomeLoansConsumerRealEstate
102149000 USD
us-gaap Interest And Fee Income Loans Commercial Real Estate
InterestAndFeeIncomeLoansCommercialRealEstate
28834000 USD
CY2015Q3 us-gaap Interest And Fee Income Loans Consumer Real Estate
InterestAndFeeIncomeLoansConsumerRealEstate
29472000 USD
us-gaap Interest And Fee Income Loans Consumer Real Estate
InterestAndFeeIncomeLoansConsumerRealEstate
80289000 USD
CY2016Q3 us-gaap Interest And Fee Income Loans Consumer Real Estate
InterestAndFeeIncomeLoansConsumerRealEstate
35595000 USD
CY2015Q3 us-gaap Interest Expense
InterestExpense
23875000 USD
us-gaap Interest Expense
InterestExpense
70844000 USD
CY2016Q3 us-gaap Interest Expense
InterestExpense
21597000 USD
us-gaap Interest Expense
InterestExpense
67991000 USD
CY2015Q3 us-gaap Interest Expense Beneficial Interests Issued By Consolidated Variable Interest Entities
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5190000 USD
us-gaap Interest Expense Beneficial Interests Issued By Consolidated Variable Interest Entities
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17037000 USD
CY2016Q3 us-gaap Interest Expense Beneficial Interests Issued By Consolidated Variable Interest Entities
InterestExpenseBeneficialInterestsIssuedByConsolidatedVariableInterestEntities
3193000 USD
us-gaap Interest Expense Beneficial Interests Issued By Consolidated Variable Interest Entities
InterestExpenseBeneficialInterestsIssuedByConsolidatedVariableInterestEntities
11457000 USD
CY2015Q3 us-gaap Interest Expense Long Term Debt
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us-gaap Interest Expense Long Term Debt
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32429000 USD
CY2016Q3 us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
12999000 USD
us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
39095000 USD
CY2015Q3 us-gaap Interest Expense Short Term Borrowings
InterestExpenseShortTermBorrowings
7627000 USD
us-gaap Interest Expense Short Term Borrowings
InterestExpenseShortTermBorrowings
21378000 USD
CY2016Q3 us-gaap Interest Expense Short Term Borrowings
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5405000 USD
us-gaap Interest Expense Short Term Borrowings
InterestExpenseShortTermBorrowings
17439000 USD
CY2015Q3 us-gaap Interest Income Expense After Provision For Loan Loss
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39669000 USD
us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
119874000 USD
CY2016Q3 us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
40168000 USD
us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
129132000 USD
CY2015Q3 us-gaap Interest Income Expense Net
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us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
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CY2016Q3 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
39309000 USD
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
122030000 USD
CY2015Q3 us-gaap Interest Income Other
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72000 USD
us-gaap Interest Income Other
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167000 USD
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258000 USD
us-gaap Interest Income Other
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926000 USD
CY2015Q3 us-gaap Interest Income Securities Mortgage Backed
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22749000 USD
us-gaap Interest Income Securities Mortgage Backed
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75363000 USD
CY2016Q3 us-gaap Interest Income Securities Mortgage Backed
InterestIncomeSecuritiesMortgageBacked
18600000 USD
us-gaap Interest Income Securities Mortgage Backed
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58112000 USD
CY2015Q3 us-gaap Interest On Convertible Debt Net Of Tax
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0 USD
us-gaap Interest On Convertible Debt Net Of Tax
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0 USD
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6115000 USD
us-gaap Interest On Convertible Debt Net Of Tax
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18263000 USD
us-gaap Interest Paid
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57998000 USD
us-gaap Interest Paid
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62053000 USD
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2000000 USD
CY2016Q3 us-gaap Interest Payable Current
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3000000 USD
CY2015Q4 us-gaap Interest Payable Current And Noncurrent
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8936000 USD
CY2016Q3 us-gaap Interest Payable Current And Noncurrent
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15518000 USD
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23290000 USD
CY2016Q3 us-gaap Interest Receivable
InterestReceivable
20054000 USD
CY2015Q4 us-gaap Investments
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CY2016Q3 us-gaap Investments
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CY2015Q3 us-gaap Labor And Related Expense
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15044000 USD
us-gaap Labor And Related Expense
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47330000 USD
CY2016Q3 us-gaap Labor And Related Expense
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13086000 USD
us-gaap Labor And Related Expense
LaborAndRelatedExpense
37963000 USD
CY2015Q4 us-gaap Liabilities
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CY2016Q3 us-gaap Liabilities
Liabilities
4742489000 USD
CY2015Q4 us-gaap Liabilities And Stockholders Equity
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6220047000 USD
CY2016Q3 us-gaap Liabilities And Stockholders Equity
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5872619000 USD
CY2015Q4 us-gaap Line Of Credit
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0 USD
CY2016Q3 us-gaap Line Of Credit
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CY2016Q3 us-gaap Line Of Credit Facility Current Borrowing Capacity
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10000000 USD
CY2015Q4 us-gaap Litigation Reserve
LitigationReserve
2000000 USD
CY2016Q3 us-gaap Litigation Reserve
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2000000 USD
CY2016Q3 us-gaap Litigation Reserve
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2000000 USD
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402647000 USD
CY2016Q3 us-gaap Loans And Leases Receivable Net Reported Amount Commercial
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30400000 USD
CY2015Q4 us-gaap Loans And Leases Receivable Net Reported Amount Consumer
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3928803000 USD
CY2016Q3 us-gaap Loans And Leases Receivable Net Reported Amount Consumer
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4311164000 USD
CY2015Q4 us-gaap Loans Receivable Fair Value Disclosure
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CY2016Q3 us-gaap Loans Receivable Fair Value Disclosure
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30400000 USD
CY2015Q4 us-gaap Long Term Debt
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CY2016Q3 us-gaap Long Term Debt
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63152000 USD
CY2016Q3 us-gaap Long Term Debt Fair Value
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0 USD
CY2015Q4 us-gaap Margin Deposit Assets
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CY2016Q3 us-gaap Margin Deposit Assets
MarginDepositAssets
96650000 USD
CY2015Q4 us-gaap Marketable Securities
MarketableSecurities
1233256000 USD
CY2016Q3 us-gaap Marketable Securities
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us-gaap Net Cash Provided By Used In Financing Activities
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345704000 USD
us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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669846000 USD
us-gaap Net Cash Provided By Used In Investing Activities
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P3Y
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us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
24764000 USD
CY2014Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1256141000 USD
CY2015Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1206575000 USD
CY2015Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1146265000 USD
CY2016Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1130130000 USD
CY2014Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest Adjusted Balance1
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAdjustedBalance1
1265869000 USD
CY2015Q4 us-gaap Trading Securities
TradingSecurities
404011000 USD
CY2016Q3 us-gaap Trading Securities
TradingSecurities
341269000 USD
CY2016Q3 us-gaap Trading Securities Pledged As Collateral
TradingSecuritiesPledgedAsCollateral
126000000 USD
us-gaap Transfer Of Loans Held For Sale To Portfolio Loans1
TransferOfLoansHeldForSaleToPortfolioLoans1
964013000 USD
us-gaap Transfer Of Loans Held For Sale To Portfolio Loans1
TransferOfLoansHeldForSaleToPortfolioLoans1
877744000 USD
us-gaap Transfer Of Portfolio Loans And Leases To Held For Sale1
TransferOfPortfolioLoansAndLeasesToHeldForSale1
66918000 USD
us-gaap Transfer Of Portfolio Loans And Leases To Held For Sale1
TransferOfPortfolioLoansAndLeasesToHeldForSale1
359005000 USD
us-gaap Transfer To Other Real Estate
TransferToOtherRealEstate
5740000 USD
us-gaap Transfer To Other Real Estate
TransferToOtherRealEstate
8479000 USD
CY2015Q3 us-gaap Transfers Of Financial Assets Accounted For As Sale Initial Fair Value Of Assets Obtained As Proceeds
TransfersOfFinancialAssetsAccountedForAsSaleInitialFairValueOfAssetsObtainedAsProceeds
39698000 USD
CY2016Q3 us-gaap Transfers Of Financial Assets Accounted For As Sale Initial Fair Value Of Assets Obtained As Proceeds
TransfersOfFinancialAssetsAccountedForAsSaleInitialFairValueOfAssetsObtainedAsProceeds
3673000 USD
CY2015Q3 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
-14169000 USD
us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
-17105000 USD
CY2016Q3 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
11918000 USD
us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
-18686000 USD
CY2015Q4 us-gaap Variable Interest Entity Consolidated Carrying Amount Assets
VariableInterestEntityConsolidatedCarryingAmountAssets
1195574000 USD
CY2016Q3 us-gaap Variable Interest Entity Consolidated Carrying Amount Assets
VariableInterestEntityConsolidatedCarryingAmountAssets
847399000 USD
CY2015Q4 us-gaap Variable Interest Entity Consolidated Carrying Amount Liabilities
VariableInterestEntityConsolidatedCarryingAmountLiabilities
1050861000 USD
CY2016Q3 us-gaap Variable Interest Entity Consolidated Carrying Amount Liabilities
VariableInterestEntityConsolidatedCarryingAmountLiabilities
820391000 USD
CY2015Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1287171 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1642535 shares
CY2016Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
54696 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
18665 shares
CY2015Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
85074704 shares
CY2016Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
97831617 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
97991678 shares
CY2015Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
83787533 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
83696461 shares
CY2016Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
76680183 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
76827026 shares
us-gaap Nature Of Operations
NatureOfOperations
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:10px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Organization</font></div><div style="line-height:120%;padding-top:12px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Redwood Trust, Inc., together with its subsidiaries, focuses on investing in mortgage- and other real estate-related assets and engaging in mortgage banking activities. We seek to invest in real estate-related assets that have the potential to generate attractive cash flow returns over time and to generate income through our mortgage banking activities. We operate our business in </font><font style="font-family:inherit;font-size:10pt;">three</font><font style="font-family:inherit;font-size:10pt;"> segments: Residential Investments, Residential Mortgage Banking, and Commercial. Redwood was incorporated in the State of Maryland on April&#160;11, 1994, and commenced operations on August&#160;19, 1994. References herein to &#8220;Redwood,&#8221; the &#8220;company,&#8221; &#8220;we,&#8221; &#8220;us,&#8221; and &#8220;our&#8221; include Redwood Trust, Inc. and its consolidated subsidiaries, unless the context otherwise requires. </font></div><div style="line-height:120%;padding-top:10px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Redwood Trust, Inc. has elected to be taxed as a real estate investment trust (&#8220;REIT&#8221;) under the Internal Revenue Code of 1986, as amended (the &#8220;Internal Revenue Code&#8221;), beginning with its taxable year ended December 31, 1994. We generally refer, collectively, to Redwood Trust, Inc. and those of its subsidiaries that are not subject to subsidiary-level corporate income tax as &#8220;the REIT&#8221; or &#8220;our REIT.&#8221; We generally refer to subsidiaries of Redwood Trust, Inc. that are subject to subsidiary-level corporate income tax as &#8220;our operating subsidiaries&#8221; or &#8220;our taxable REIT subsidiaries&#8221; or &#8220;TRS.&#8221; </font></div><div style="line-height:120%;padding-top:10px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We sponsor our Sequoia securitization program, which we use for the securitization of residential mortgage loans. References to Sequoia with respect to any time or period generally refer collectively to all the then consolidated Sequoia securitization entities for the periods presented. We have also engaged in securitization transactions in order to obtain financing for certain of our securities and commercial loans.</font></div></div>
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:10px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements requires us to make a number of significant estimates. These include estimates of fair value of certain assets and liabilities, amounts and timing of credit losses, prepayment rates, and other estimates that affect the reported amounts of certain assets and liabilities as of the date of the consolidated financial statements and the reported amounts of certain revenues and expenses during the reported periods. It is likely that changes in these estimates (e.g., valuation changes due to supply and demand, credit performance, prepayments, interest rates, or other reasons) will occur in the near term. Our estimates are inherently subjective in nature and actual results could differ from our estimates and the differences could be material.</font></div></div>

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