2015 Q4 Form 10-K Financial Statement

#000093023617000010 Filed on February 24, 2017

View on sec.gov

Income Statement

Concept 2015 Q4 2015 Q3 2015 Q2
Revenue $68.83M $63.48M $63.37M
YoY Change 5.48% 0.21% 9.28%
Cost Of Revenue $25.00M $23.90M $23.00M
YoY Change 4.6% 2.14% 8.49%
Gross Profit $43.80M $39.60M $40.40M
YoY Change 6.05% -1.0% 9.78%
Gross Profit Margin 63.64% 62.38% 63.75%
Selling, General & Admin $18.20M $19.80M $21.10M
YoY Change -21.55% 9.39% 9.33%
% of Gross Profit 41.55% 50.0% 52.23%
Research & Development $2.355M $2.242M
YoY Change -32.0% -43.63%
% of Gross Profit 5.95% 5.55%
Depreciation & Amortization $300.0K $200.0K $200.0K
YoY Change 200.0% 0.0% 100.0%
% of Gross Profit 0.68% 0.51% 0.5%
Operating Expenses $22.64M $24.50M $25.22M
YoY Change -14.45% 14.44% 13.18%
Operating Profit $21.16M $15.10M $15.18M
YoY Change 42.62% -18.77% 4.57%
Interest Expense $25.04M $23.88M $23.01M
YoY Change 4.75% 2.25% 8.78%
% of Operating Profit 118.32% 158.08% 151.55%
Other Income/Expense, Net
YoY Change
Pretax Income $41.00M $11.76M $29.51M
YoY Change 69.42% -76.62% 80.5%
Income Tax -$100.0K -$7.404M $2.448M
% Of Pretax Income -0.24% -62.96% 8.29%
Net Earnings $41.06M $19.16M $27.06M
YoY Change 51.39% -57.5% 68.97%
Net Earnings / Revenue 59.65% 30.19% 42.71%
Basic Earnings Per Share $0.49 $0.22 $0.31
Diluted Earnings Per Share $0.46 $0.22 $0.31
COMMON SHARES
Basic Shares Outstanding 82.12M shares 83.79M shares 83.94M shares
Diluted Shares Outstanding 85.07M shares 94.95M shares

Balance Sheet

Concept 2015 Q4 2015 Q3 2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.453B $1.321B $1.384B
YoY Change -11.85% -14.5% -30.87%
Cash & Equivalents $220.2M $235.4M $226.4M
Short-Term Investments $1.233B $1.085B $1.158B
Other Short-Term Assets $4.000M $4.000M $3.000M
YoY Change 33.33% 100.0% 50.0%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $311.0M $360.0M $309.0M
YoY Change -7.99% 73.08% 40.45%
LONG-TERM ASSETS
Property, Plant & Equipment $4.117M $5.070M $4.442M
YoY Change 36.87% 123.05% 153.25%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $1.425B $1.248B $1.326B
YoY Change -6.19% -18.43% -30.79%
Other Assets $6.000M $20.00M $16.00M
YoY Change -64.71% -9.09% 33.33%
Total Long-Term Assets $5.909B $5.909B $5.287B
YoY Change 5.88% 9.35% 2.49%
TOTAL ASSETS
Total Short-Term Assets $311.0M $360.0M $309.0M
Total Long-Term Assets $5.909B $5.909B $5.287B
Total Assets $6.220B $6.269B $5.596B
YoY Change 5.09% 11.71% 4.04%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.764M $8.341M $5.446M
YoY Change 125.57%
Accrued Expenses $28.00M $34.00M $24.00M
YoY Change -15.15% 17.24% 14.29%
Deferred Revenue
YoY Change
Short-Term Debt $1.855B $1.873B $1.367B
YoY Change 3.41% -0.79% -20.45%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.888B $1.916B $1.396B
YoY Change 3.34% -0.26% -19.77%
LONG-TERM LIABILITIES
Long-Term Debt $3.077B $3.001B $2.841B
YoY Change 12.3% 27.54% 22.72%
Other Long-Term Liabilities $109.0M $136.0M $83.00M
YoY Change 26.74% 112.5% 23.88%
Total Long-Term Liabilities $3.186B $3.137B $2.924B
YoY Change 12.74% 29.79% 22.75%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.888B $1.916B $1.396B
Total Long-Term Liabilities $3.186B $3.137B $2.924B
Total Liabilities $5.074B $5.062B $4.331B
YoY Change 8.81% 16.51% 4.88%
SHAREHOLDERS EQUITY
Retained Earnings $1.019B $977.6M $958.5M
YoY Change 12.33% 11.13% 14.83%
Common Stock $1.697B $1.748B $1.780B
YoY Change -4.4% -1.23% 0.85%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.146B $1.207B $1.265B
YoY Change
Total Liabilities & Shareholders Equity $6.220B $6.269B $5.596B
YoY Change 5.09% 11.71% 4.04%

Cashflow Statement

Concept 2015 Q4 2015 Q3 2015 Q2
OPERATING ACTIVITIES
Net Income $41.06M $19.16M $27.06M
YoY Change 51.39% -57.5% 68.97%
Depreciation, Depletion And Amortization $300.0K $200.0K $200.0K
YoY Change 200.0% 0.0% 100.0%
Cash From Operating Activities -$200.3M -$763.6M -$167.2M
YoY Change -22.3% 2.21% -56.51%
INVESTING ACTIVITIES
Capital Expenditures -$9.100M -$7.300M -$10.80M
YoY Change 111.63% -81.14% 390.91%
Acquisitions
YoY Change
Other Investing Activities $202.4M $167.0M $326.9M
YoY Change 75.09% -71.84% 585.32%
Cash From Investing Activities $193.4M $159.6M $316.1M
YoY Change 73.76% -71.2% 591.68%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -8.200M 612.9M -226.3M
YoY Change -103.07% 230.58% -165.4%
NET CHANGE
Cash From Operating Activities -200.3M -763.6M -167.2M
Cash From Investing Activities 193.4M 159.6M 316.1M
Cash From Financing Activities -8.200M 612.9M -226.3M
Net Change In Cash -15.10M 8.900M -77.40M
YoY Change -112.56% -218.67% -1175.0%
FREE CASH FLOW
Cash From Operating Activities -$200.3M -$763.6M -$167.2M
Capital Expenditures -$9.100M -$7.300M -$10.80M
Free Cash Flow -$191.2M -$756.3M -$156.4M
YoY Change -24.58% 6.76% -59.09%

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CY2016Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3000000 USD
CY2015Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
91993000 USD
CY2016Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
71853000 USD
CY2015Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
1695956000 USD
CY2016Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
1676486000 USD
CY2014 us-gaap Adjustment For Amortization
AdjustmentForAmortization
33698000 USD
CY2015 us-gaap Adjustment For Amortization
AdjustmentForAmortization
32403000 USD
CY2016 us-gaap Adjustment For Amortization
AdjustmentForAmortization
25704000 USD
CY2014 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
11271000 USD
CY2015 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
11806000 USD
CY2016 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
12648000 USD
CY2014 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
9750000 USD
CY2015 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
11921000 USD
CY2016 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
9093000 USD
CY2015Q4 us-gaap Assets
Assets
6220047000 USD
CY2016Q4 us-gaap Assets
Assets
5483477000 USD
CY2015Q4 us-gaap Available For Sale Securities
AvailableForSaleSecurities
829245000 USD
CY2016Q4 us-gaap Available For Sale Securities
AvailableForSaleSecurities
572752000 USD
CY2015 us-gaap Available For Sale Securities Gross Realized Gain Loss Net
AvailableForSaleSecuritiesGrossRealizedGainLossNet
34000000 USD
CY2016 us-gaap Available For Sale Securities Gross Realized Gain Loss Net
AvailableForSaleSecuritiesGrossRealizedGainLossNet
21000000 USD
CY2014 us-gaap Available For Sale Securities Gross Realized Gains
AvailableForSaleSecuritiesGrossRealizedGains
15030000 USD
CY2015 us-gaap Available For Sale Securities Gross Realized Gains
AvailableForSaleSecuritiesGrossRealizedGains
34922000 USD
CY2016 us-gaap Available For Sale Securities Gross Realized Gains
AvailableForSaleSecuritiesGrossRealizedGains
23598000 USD
CY2014 us-gaap Available For Sale Securities Gross Realized Losses
AvailableForSaleSecuritiesGrossRealizedLosses
2713000 USD
CY2015 us-gaap Available For Sale Securities Gross Realized Losses
AvailableForSaleSecuritiesGrossRealizedLosses
608000 USD
CY2016 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
AvailableforsaleSecuritiesInUnrealizedLossPositionsQualitativeDisclosureNumberOfPositions1
32 Investment
CY2016Q4 us-gaap Availableforsale Securities In Unrealized Loss Positions Qualitative Disclosure Number Of Positions1
AvailableforsaleSecuritiesInUnrealizedLossPositionsQualitativeDisclosureNumberOfPositions1
19 Investment
CY2013Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
173201000 USD
CY2014Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
269730000 USD
CY2015Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
220229000 USD
CY2016Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
212844000 USD
CY2014 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
96529000 USD
CY2015 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-49501000 USD
CY2016 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-7385000 USD
CY2014 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.12
CY2015Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.28
CY2015Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.28
CY2015Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.28
CY2015Q4 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.28
CY2015 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.12
CY2016Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.28
CY2016Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.28
CY2016Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.28
CY2016Q4 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.28
CY2016 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.12
CY2015Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2016Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2015Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
180000000 shares
CY2016Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
180000000 shares
CY2015Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
78162765 shares
CY2016Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
76834663 shares
CY2015Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
78162765 shares
CY2016Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
76834663 shares
CY2015Q4 us-gaap Common Stock Value
CommonStockValue
782000 USD
CY2016Q4 us-gaap Common Stock Value
CommonStockValue
768000 USD
CY2014 us-gaap Communications And Information Technology
CommunicationsAndInformationTechnology
11654000 USD
CY2015 us-gaap Communications And Information Technology
CommunicationsAndInformationTechnology
10212000 USD
CY2016 us-gaap Communications And Information Technology
CommunicationsAndInformationTechnology
9037000 USD
CY2014 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
92491000 USD
CY2015 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
53393000 USD
CY2016 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
111112000 USD
CY2014 us-gaap Contractually Specified Servicing Fees Amount
ContractuallySpecifiedServicingFeesAmount
19362000 USD
CY2015 us-gaap Contractually Specified Servicing Fees Amount
ContractuallySpecifiedServicingFeesAmount
38964000 USD
CY2016 us-gaap Contractually Specified Servicing Fees Amount
ContractuallySpecifiedServicingFeesAmount
41152000 USD
CY2014 us-gaap Contractually Specified Servicing Fees Late Fees And Ancillary Fees Earned In Exchange For Servicing Financial Assets
ContractuallySpecifiedServicingFeesLateFeesAndAncillaryFeesEarnedInExchangeForServicingFinancialAssets
17528000 USD
CY2015 us-gaap Contractually Specified Servicing Fees Late Fees And Ancillary Fees Earned In Exchange For Servicing Financial Assets
ContractuallySpecifiedServicingFeesLateFeesAndAncillaryFeesEarnedInExchangeForServicingFinancialAssets
33885000 USD
CY2016 us-gaap Contractually Specified Servicing Fees Late Fees And Ancillary Fees Earned In Exchange For Servicing Financial Assets
ContractuallySpecifiedServicingFeesLateFeesAndAncillaryFeesEarnedInExchangeForServicingFinancialAssets
34871000 USD
CY2015Q4 us-gaap Cumulative Dividends
CumulativeDividends
1661149000 USD
CY2016Q4 us-gaap Cumulative Dividends
CumulativeDividends
1749614000 USD
CY2014 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
24000 USD
CY2015 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
144000 USD
CY2016 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
1477000 USD
CY2014 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
41000 USD
CY2015 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
311000 USD
CY2016 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
1808000 USD
CY2014 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
17000 USD
CY2015 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
167000 USD
CY2016 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
331000 USD
CY2014 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
703000 USD
CY2015 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-10198000 USD
CY2016 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
1910000 USD
CY2014 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
703000 USD
CY2015 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-10657000 USD
CY2016 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
1900000 USD
CY2015Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
53268000 USD
CY2016Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
26334000 USD
CY2015Q4 us-gaap Deferred Income Tax Liabilities Net
DeferredIncomeTaxLiabilitiesNet
0 USD
CY2016Q4 us-gaap Deferred Income Tax Liabilities Net
DeferredIncomeTaxLiabilitiesNet
898000 USD
CY2014 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
0 USD
CY2015 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-459000 USD
CY2016 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-10000 USD
CY2015Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
170062000 USD
CY2016Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
127368000 USD
CY2015Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Domestic
DeferredTaxAssetsOperatingLossCarryforwardsDomestic
32929000 USD
CY2016Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Domestic
DeferredTaxAssetsOperatingLossCarryforwardsDomestic
9537000 USD
CY2015Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards State And Local
DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal
95972000 USD
CY2016Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards State And Local
DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal
89350000 USD
CY2015Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
513000 USD
CY2016Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
2192000 USD
CY2015Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals
3458000 USD
CY2016Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals
3059000 USD
CY2015Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
116794000 USD
CY2016Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
101932000 USD
CY2015Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
0 USD
CY2016Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
898000 USD
CY2015Q4 us-gaap Deferred Tax Liabilities Derivatives
DeferredTaxLiabilitiesDerivatives
0 USD
CY2016Q4 us-gaap Deferred Tax Liabilities Derivatives
DeferredTaxLiabilitiesDerivatives
2167000 USD
CY2015Q4 us-gaap Deferred Tax Liabilities Mortgage Servicing Rights
DeferredTaxLiabilitiesMortgageServicingRights
50630000 USD
CY2016Q4 us-gaap Deferred Tax Liabilities Mortgage Servicing Rights
DeferredTaxLiabilitiesMortgageServicingRights
22531000 USD
CY2015Q4 us-gaap Deferred Tax Liabilities Other Comprehensive Income
DeferredTaxLiabilitiesOtherComprehensiveIncome
2638000 USD
CY2016Q4 us-gaap Deferred Tax Liabilities Other Comprehensive Income
DeferredTaxLiabilitiesOtherComprehensiveIncome
1636000 USD
CY2014 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
600000 USD
CY2015 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
800000 USD
CY2016 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
600000 USD
CY2016 us-gaap Defined Contribution Plan Maximum Annual Contributions Per Employee Percent
DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent
1
CY2014 us-gaap Depreciation And Amortization
DepreciationAndAmortization
513000 USD
CY2015 us-gaap Depreciation And Amortization
DepreciationAndAmortization
824000 USD
CY2016 us-gaap Depreciation And Amortization
DepreciationAndAmortization
1140000 USD
CY2015Q4 us-gaap Derivative Asset Fair Value Gross Liability
DerivativeAssetFairValueGrossLiability
0 USD
CY2016Q4 us-gaap Derivative Asset Fair Value Gross Liability
DerivativeAssetFairValueGrossLiability
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
CY2016Q4 us-gaap Derivative Asset Fair Value Offset Against Collateral Net Of Not Subject To Master Netting Arrangement Policy Election
DerivativeAssetFairValueOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection
12460000 USD
CY2015Q4 us-gaap Derivative Assets
DerivativeAssets
16393000 USD
CY2016Q4 us-gaap Derivative Assets
DerivativeAssets
36595000 USD
CY2015Q4 us-gaap Derivative Collateral Obligation To Return Cash
DerivativeCollateralObligationToReturnCash
2930000 USD
CY2016Q4 us-gaap Derivative Collateral Obligation To Return Cash
DerivativeCollateralObligationToReturnCash
9148000 USD
CY2015Q4 us-gaap Derivative Collateral Obligation To Return Securities
DerivativeCollateralObligationToReturnSecurities
7549000 USD
CY2016Q4 us-gaap Derivative Collateral Obligation To Return Securities
DerivativeCollateralObligationToReturnSecurities
11672000 USD
CY2015Q4 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
11722000 USD
CY2016Q4 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
33280000 USD
CY2015Q4 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
-46401000 USD
CY2016Q4 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
-29734000 USD
CY2015Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
62794000 USD
CY2016Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
66329000 USD
CY2014 us-gaap Dividends Common Stock
DividendsCommonStock
95273000 USD
CY2015 us-gaap Dividends Common Stock
DividendsCommonStock
94871000 USD
CY2016 us-gaap Dividends Common Stock
DividendsCommonStock
88465000 USD
CY2014 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.18
CY2015Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.17
CY2015Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.31
CY2015Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.22
CY2015Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.49
CY2015 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.20
CY2016Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.15
CY2016Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.52
CY2016Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.67
CY2016Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.32
CY2016 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.66
CY2014 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.15
CY2015Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.16
CY2015Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.31
CY2015Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.22
CY2015Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.46
CY2015 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.18
CY2016Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.15
CY2016Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.48
CY2016Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.58
CY2016Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.31
CY2016 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.54
CY2014 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.007
CY2015 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.113
CY2016 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.027
CY2014 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.34
CY2015 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.34
CY2016 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.34
CY2014 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.001
CY2015 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.061
CY2016 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.112
CY2014 us-gaap Effective Income Tax Rate Reconciliation Deductions
EffectiveIncomeTaxRateReconciliationDeductions
0.145
CY2015 us-gaap Effective Income Tax Rate Reconciliation Deductions
EffectiveIncomeTaxRateReconciliationDeductions
0.203
CY2016 us-gaap Effective Income Tax Rate Reconciliation Deductions
EffectiveIncomeTaxRateReconciliationDeductions
0.010
CY2014 us-gaap Effective Income Tax Rate Reconciliation Deductions Dividends
EffectiveIncomeTaxRateReconciliationDeductionsDividends
0.259
CY2015 us-gaap Effective Income Tax Rate Reconciliation Deductions Dividends
EffectiveIncomeTaxRateReconciliationDeductionsDividends
0.383
CY2016 us-gaap Effective Income Tax Rate Reconciliation Deductions Dividends
EffectiveIncomeTaxRateReconciliationDeductionsDividends
0.263
CY2014 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.072
CY2015 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.072
CY2016 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
CY2016Q4 us-gaap Employee Related Liabilities Current And Noncurrent
EmployeeRelatedLiabilitiesCurrentAndNoncurrent
18830000 USD
CY2016 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
11870000 USD
CY2015Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
23608000 USD
CY2016Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
18146000 USD
CY2014 us-gaap Employee Stock Ownership Plan Esop Compensation Expense
EmployeeStockOwnershipPlanESOPCompensationExpense
494000 USD
CY2015 us-gaap Employee Stock Ownership Plan Esop Compensation Expense
EmployeeStockOwnershipPlanESOPCompensationExpense
460000 USD
CY2016 us-gaap Employee Stock Ownership Plan Esop Compensation Expense
EmployeeStockOwnershipPlanESOPCompensationExpense
305000 USD
CY2013Q4 us-gaap Employee Stock Ownership Plan Esop Repurchase Obligation Amount
EmployeeStockOwnershipPlanESOPRepurchaseObligationAmount
3000 USD
CY2014Q4 us-gaap Employee Stock Ownership Plan Esop Repurchase Obligation Amount
EmployeeStockOwnershipPlanESOPRepurchaseObligationAmount
3000 USD
CY2015Q4 us-gaap Employee Stock Ownership Plan Esop Repurchase Obligation Amount
EmployeeStockOwnershipPlanESOPRepurchaseObligationAmount
18000 USD
CY2016Q4 us-gaap Employee Stock Ownership Plan Esop Repurchase Obligation Amount
EmployeeStockOwnershipPlanESOPRepurchaseObligationAmount
3000 USD
CY2015Q4 us-gaap Federal Home Loan Bank Stock
FederalHomeLoanBankStock
34437000 USD
CY2016Q4 us-gaap Federal Home Loan Bank Stock
FederalHomeLoanBankStock
43393000 USD
CY2016Q4 us-gaap Financial Instruments Owned And Pledged As Collateral At Fair Value
FinancialInstrumentsOwnedAndPledgedAsCollateralAtFairValue
8000000 USD
CY2015 us-gaap Gain Loss On Oil And Gas Hedging Activity
GainLossOnOilAndGasHedgingActivity
0 USD
CY2014 us-gaap Gain Loss On Sale Of Investments
GainLossOnSaleOfInvestments
15478000 USD
CY2015 us-gaap Gain Loss On Sale Of Investments
GainLossOnSaleOfInvestments
36369000 USD
CY2016 us-gaap Gain Loss On Sale Of Investments
GainLossOnSaleOfInvestments
28009000 USD
CY2014 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
5011000 USD
CY2015 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
5270000 USD
CY2016 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
4550000 USD
CY2015Q4 us-gaap Guaranty Assets
GuarantyAssets
5697000 USD
CY2016Q4 us-gaap Guaranty Assets
GuarantyAssets
4092000 USD
CY2015Q4 us-gaap Guaranty Liabilities
GuarantyLiabilities
22704000 USD
CY2016Q4 us-gaap Guaranty Liabilities
GuarantyLiabilities
21668000 USD
CY2015 us-gaap Impairment Of Investments
ImpairmentOfInvestments
400000 USD
CY2016 us-gaap Impairment Of Investments
ImpairmentOfInvestments
3000000 USD
CY2014 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
101313000 USD
CY2015 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
91742000 USD
CY2016 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
134960000 USD
CY2016Q1 us-gaap Interest Expense
InterestExpense
23950000 USD
CY2016Q2 us-gaap Interest Expense
InterestExpense
22444000 USD
CY2014 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
744000 USD
CY2015 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-10346000 USD
CY2015 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-10000000 USD
CY2016 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3708000 USD
CY2016 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
4000000 USD
CY2014 us-gaap Income Taxes Paid
IncomeTaxesPaid
1407000 USD
CY2015 us-gaap Income Taxes Paid
IncomeTaxesPaid
165000 USD
CY2016 us-gaap Income Taxes Paid
IncomeTaxesPaid
1303000 USD
CY2014 us-gaap Increase Decrease In Operating Assets
IncreaseDecreaseInOperatingAssets
57685000 USD
CY2015 us-gaap Increase Decrease In Operating Assets
IncreaseDecreaseInOperatingAssets
88173000 USD
CY2016 us-gaap Increase Decrease In Operating Assets
IncreaseDecreaseInOperatingAssets
-42572000 USD
CY2014 us-gaap Increase Decrease In Operating Liabilities
IncreaseDecreaseInOperatingLiabilities
-2768000 USD
CY2015 us-gaap Increase Decrease In Operating Liabilities
IncreaseDecreaseInOperatingLiabilities
5993000 USD
CY2016 us-gaap Increase Decrease In Operating Liabilities
IncreaseDecreaseInOperatingLiabilities
3632000 USD
CY2014 us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
230000 USD
CY2015 us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
4939000 USD
CY2016 us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
3056000 USD
CY2015 us-gaap Increase Decrease In Trading Securities
IncreaseDecreaseInTradingSecurities
-17000000 USD
CY2016 us-gaap Increase Decrease In Trading Securities
IncreaseDecreaseInTradingSecurities
11000000 USD
CY2014 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
0 shares
CY2015 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
0 shares
CY2016 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
21133608 shares
CY2014 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
242070000 USD
CY2015Q1 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
63746000 USD
CY2015Q2 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
63373000 USD
CY2015Q3 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
63484000 USD
CY2015Q4 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
68829000 USD
CY2015 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
259432000 USD
CY2016Q1 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
62328000 USD
CY2016Q2 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
66787000 USD
CY2016Q3 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
60906000 USD
CY2016Q4 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
56334000 USD
CY2016 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
246355000 USD
CY2014 us-gaap Interest And Fee Income Loans Commercial Real Estate
InterestAndFeeIncomeLoansCommercialRealEstate
47567000 USD
CY2015 us-gaap Interest And Fee Income Loans Commercial Real Estate
InterestAndFeeIncomeLoansCommercialRealEstate
46933000 USD
CY2016 us-gaap Interest And Fee Income Loans Commercial Real Estate
InterestAndFeeIncomeLoansCommercialRealEstate
30496000 USD
CY2014 us-gaap Interest And Fee Income Loans Consumer Real Estate
InterestAndFeeIncomeLoansConsumerRealEstate
68949000 USD
CY2015 us-gaap Interest And Fee Income Loans Consumer Real Estate
InterestAndFeeIncomeLoansConsumerRealEstate
114715000 USD
CY2016 us-gaap Interest And Fee Income Loans Consumer Real Estate
InterestAndFeeIncomeLoansConsumerRealEstate
137804000 USD
CY2014 us-gaap Interest Expense
InterestExpense
87463000 USD
CY2015Q1 us-gaap Interest Expense
InterestExpense
23961000 USD
CY2015Q2 us-gaap Interest Expense
InterestExpense
23008000 USD
CY2015Q3 us-gaap Interest Expense
InterestExpense
23875000 USD
CY2015Q4 us-gaap Interest Expense
InterestExpense
25039000 USD
CY2015 us-gaap Interest Expense
InterestExpense
95883000 USD
CY2016Q4 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
35797000 USD
CY2016Q3 us-gaap Interest Expense
InterestExpense
21597000 USD
CY2016Q4 us-gaap Interest Expense
InterestExpense
20537000 USD
CY2016 us-gaap Interest Expense
InterestExpense
88528000 USD
CY2014 us-gaap Interest Expense Beneficial Interests Issued By Consolidated Variable Interest Entities
InterestExpenseBeneficialInterestsIssuedByConsolidatedVariableInterestEntities
31227000 USD
CY2015 us-gaap Interest Expense Beneficial Interests Issued By Consolidated Variable Interest Entities
InterestExpenseBeneficialInterestsIssuedByConsolidatedVariableInterestEntities
21469000 USD
CY2016 us-gaap Interest Expense Beneficial Interests Issued By Consolidated Variable Interest Entities
InterestExpenseBeneficialInterestsIssuedByConsolidatedVariableInterestEntities
14735000 USD
CY2014 us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
30246000 USD
CY2015 us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
43842000 USD
CY2016 us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
51506000 USD
CY2014 us-gaap Interest Expense Short Term Borrowings
InterestExpenseShortTermBorrowings
25990000 USD
CY2015 us-gaap Interest Expense Short Term Borrowings
InterestExpenseShortTermBorrowings
30572000 USD
CY2016 us-gaap Interest Expense Short Term Borrowings
InterestExpenseShortTermBorrowings
22287000 USD
CY2014 us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
153646000 USD
CY2015 us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
163904000 USD
CY2016 us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
164929000 USD
CY2014 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
154607000 USD
CY2015Q1 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
39785000 USD
CY2015Q2 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
40365000 USD
CY2015Q3 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
39609000 USD
CY2015Q4 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
43790000 USD
CY2015 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
163549000 USD
CY2016Q1 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
38378000 USD
CY2016Q2 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
44343000 USD
CY2016Q3 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
39309000 USD
CY2016 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
157827000 USD
CY2014 us-gaap Interest Income Other
InterestIncomeOther
72000 USD
CY2015 us-gaap Interest Income Other
InterestIncomeOther
336000 USD
CY2016 us-gaap Interest Income Other
InterestIncomeOther
1182000 USD
CY2014 us-gaap Interest Income Securities Mortgage Backed
InterestIncomeSecuritiesMortgageBacked
125482000 USD
CY2015 us-gaap Interest Income Securities Mortgage Backed
InterestIncomeSecuritiesMortgageBacked
97448000 USD
CY2016 us-gaap Interest Income Securities Mortgage Backed
InterestIncomeSecuritiesMortgageBacked
76873000 USD
CY2014 us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
0 USD
CY2015 us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
0 USD
CY2016 us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
23862000 USD
CY2014 us-gaap Interest Paid
InterestPaid
81350000 USD
CY2015 us-gaap Interest Paid
InterestPaid
86849000 USD
CY2016 us-gaap Interest Paid
InterestPaid
87164000 USD
CY2015Q4 us-gaap Interest Payable Current
InterestPayableCurrent
2000000 USD
CY2016Q4 us-gaap Interest Payable Current
InterestPayableCurrent
3000000 USD
CY2015Q4 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
8936000 USD
CY2016Q4 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
9608000 USD
CY2015Q4 us-gaap Interest Receivable
InterestReceivable
23290000 USD
CY2016Q4 us-gaap Interest Receivable
InterestReceivable
18454000 USD
CY2015Q4 us-gaap Investments
Investments
5976911000 USD
CY2016Q4 us-gaap Investments
Investments
5240560000 USD
CY2014 us-gaap Labor And Related Expense
LaborAndRelatedExpense
53670000 USD
CY2015 us-gaap Labor And Related Expense
LaborAndRelatedExpense
59620000 USD
CY2016 us-gaap Labor And Related Expense
LaborAndRelatedExpense
50006000 USD
CY2016Q4 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
1000000 USD
CY2015Q4 us-gaap Liabilities
Liabilities
5073782000 USD
CY2016Q4 us-gaap Liabilities
Liabilities
4334049000 USD
CY2015Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
6220047000 USD
CY2016Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
5483477000 USD
CY2015Q4 us-gaap Line Of Credit
LineOfCredit
0 USD
CY2016Q4 us-gaap Line Of Credit
LineOfCredit
0 USD
CY2016Q4 us-gaap Line Of Credit Facility Current Borrowing Capacity
LineOfCreditFacilityCurrentBorrowingCapacity
10000000 USD
CY2015Q4 us-gaap Litigation Reserve
LitigationReserve
2000000 USD
CY2016Q4 us-gaap Litigation Reserve
LitigationReserve
2000000 USD
CY2016Q4 us-gaap Litigation Reserve
LitigationReserve
2000000 USD
CY2015Q4 us-gaap Long Term Debt
LongTermDebt
2027737000 USD
CY2016Q4 us-gaap Long Term Debt
LongTermDebt
2620683000 USD
CY2015Q4 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
63152000 USD
CY2016Q4 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
0 USD
CY2015Q4 us-gaap Margin Deposit Assets
MarginDepositAssets
83191000 USD
CY2016Q4 us-gaap Margin Deposit Assets
MarginDepositAssets
68038000 USD
CY2015Q4 us-gaap Marketable Securities
MarketableSecurities
1233256000 USD
CY2016Q4 us-gaap Marketable Securities
MarketableSecurities
1018439000 USD
CY2015 us-gaap Mortgage Loans On Real Estate Interest Rate
MortgageLoansOnRealEstateInterestRate
0
CY2014 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1147078000 USD
CY2015 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
337464000 USD
CY2016 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-795393000 USD
CY2014 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
740584000 USD
CY2015 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
863245000 USD
CY2016 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
1333661000 USD
CY2014 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-1791133000 USD
CY2015 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-1250210000 USD
CY2016 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-545653000 USD
CY2014 us-gaap Net Income Loss
NetIncomeLoss
100569000 USD
CY2015Q1 us-gaap Net Income Loss
NetIncomeLoss
14801000 USD
CY2015Q2 us-gaap Net Income Loss
NetIncomeLoss
27064000 USD
CY2015Q3 us-gaap Net Income Loss
NetIncomeLoss
19164000 USD
CY2015Q4 us-gaap Net Income Loss
NetIncomeLoss
41059000 USD
CY2015 us-gaap Net Income Loss
NetIncomeLoss
102088000 USD
CY2016Q1 us-gaap Net Income Loss
NetIncomeLoss
12063000 USD
CY2016Q2 us-gaap Net Income Loss
NetIncomeLoss
41281000 USD
CY2016Q3 us-gaap Net Income Loss
NetIncomeLoss
52553000 USD
CY2016Q4 us-gaap Net Income Loss
NetIncomeLoss
25355000 USD
CY2016 us-gaap Net Income Loss
NetIncomeLoss
131252000 USD
CY2014 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
97957000 USD
CY2015 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
99282000 USD
CY2016 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
127510000 USD
CY2014 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
98045000 USD
CY2015 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
99411000 USD
CY2016 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
151079000 USD
CY2014 us-gaap Noninterest Income
NoninterestIncome
37790000 USD
CY2015Q1 us-gaap Noninterest Income
NoninterestIncome
-5031000 USD
CY2015Q2 us-gaap Noninterest Income
NoninterestIncome
14104000 USD
CY2015Q3 us-gaap Noninterest Income
NoninterestIncome
-3412000 USD
CY2015Q4 us-gaap Noninterest Income
NoninterestIncome
19593000 USD
CY2015 us-gaap Noninterest Income
NoninterestIncome
25254000 USD
CY2016Q1 us-gaap Noninterest Income
NoninterestIncome
4454000 USD
CY2016Q2 us-gaap Noninterest Income
NoninterestIncome
10888000 USD
CY2016Q3 us-gaap Noninterest Income
NoninterestIncome
33712000 USD
CY2016Q4 us-gaap Noninterest Income
NoninterestIncome
9763000 USD
CY2016 us-gaap Noninterest Income
NoninterestIncome
58817000 USD
CY2016 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
3 Segment
CY2014 us-gaap Operating Expenses
OperatingExpenses
90123000 USD
CY2015Q1 us-gaap Operating Expenses
OperatingExpenses
25063000 USD
CY2015Q2 us-gaap Operating Expenses
OperatingExpenses
25218000 USD
CY2015Q3 us-gaap Operating Expenses
OperatingExpenses
24497000 USD
CY2015Q4 us-gaap Operating Expenses
OperatingExpenses
22638000 USD
CY2015 us-gaap Operating Expenses
OperatingExpenses
97416000 USD
CY2016Q1 us-gaap Operating Expenses
OperatingExpenses
30452000 USD
CY2016Q2 us-gaap Operating Expenses
OperatingExpenses
20155000 USD
CY2016Q3 us-gaap Operating Expenses
OperatingExpenses
20355000 USD
CY2016Q4 us-gaap Operating Expenses
OperatingExpenses
17824000 USD
CY2016 us-gaap Operating Expenses
OperatingExpenses
88786000 USD
CY2016Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
4840000 USD
CY2016Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
48000 USD
CY2016Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
581000 USD
CY2016Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
642000 USD
CY2016Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
1268000 USD
CY2016Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
0 USD
CY2016Q4 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
2301000 USD
CY2016 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
3000000 USD
CY2015Q4 us-gaap Other Assets
OtherAssets
197886000 USD
CY2016Q4 us-gaap Other Assets
OtherAssets
179245000 USD
CY2015Q4 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
4438000 USD
CY2016Q4 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
9857000 USD
CY2014 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
32635000 USD
CY2015 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-17955000 USD
CY2016 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-2316000 USD
CY2014 us-gaap Other Comprehensive Income Loss Available For Sale Securities Before Reclassification Adjustments Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesBeforeReclassificationAdjustmentsTax
2000000 USD
CY2015 us-gaap Other Comprehensive Income Loss Available For Sale Securities Before Reclassification Adjustments Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesBeforeReclassificationAdjustmentsTax
400000 USD
CY2016 us-gaap Other Comprehensive Income Loss Available For Sale Securities Before Reclassification Adjustments Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesBeforeReclassificationAdjustmentsTax
-1000000 USD
CY2014 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-8078000 USD
CY2015 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-48695000 USD
CY2016 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-20140000 USD
CY2014 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
10552000 USD
CY2015 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
29426000 USD
CY2016 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
21167000 USD
CY2014 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
-164000 USD
CY2015 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
-95000 USD
CY2016 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
-72000 USD
CY2014 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-30325000 USD
CY2015 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-1409000 USD
CY2016 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
3271000 USD
CY2014 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
4100000 USD
CY2015 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
5102000 USD
CY2016 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
3284000 USD
CY2014 us-gaap Other General Expense
OtherGeneralExpense
2237000 USD
CY2015 us-gaap Other General Expense
OtherGeneralExpense
2049000 USD
CY2016 us-gaap Other General Expense
OtherGeneralExpense
2106000 USD
CY2014 us-gaap Other Income
OtherIncome
1781000 USD
CY2015 us-gaap Other Income
OtherIncome
3192000 USD
CY2016 us-gaap Other Income
OtherIncome
6338000 USD
CY2015Q4 us-gaap Other Liabilities
OtherLiabilities
69897000 USD
CY2016Q4 us-gaap Other Liabilities
OtherLiabilities
72428000 USD
CY2014 us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Additions Additional Credit Losses
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsAdditionsAdditionalCreditLosses
70000 USD
CY2015 us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Additions Additional Credit Losses
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsAdditionsAdditionalCreditLosses
0 USD
CY2016 us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Additions Additional Credit Losses
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsAdditionsAdditionalCreditLosses
8000 USD
CY2014 us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Additions No Previous Impairment
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsAdditionsNoPreviousImpairment
261000 USD
CY2015 us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Additions No Previous Impairment
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsAdditionsNoPreviousImpairment
246000 USD
CY2016 us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Additions No Previous Impairment
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsAdditionsNoPreviousImpairment
346000 USD
CY2013Q4 us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Credit Losses On Debt Securities Held
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsCreditLossesOnDebtSecuritiesHeld
37149000 USD
CY2014Q4 us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Credit Losses On Debt Securities Held
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsCreditLossesOnDebtSecuritiesHeld
33849000 USD
CY2015Q4 us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Credit Losses On Debt Securities Held
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsCreditLossesOnDebtSecuritiesHeld
28277000 USD
CY2016Q4 us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Credit Losses On Debt Securities Held
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsCreditLossesOnDebtSecuritiesHeld
28261000 USD
CY2014 us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Reductions Securities Sold
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsReductionsSecuritiesSold
922000 USD
CY2015 us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Reductions Securities Sold
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsReductionsSecuritiesSold
4567000 USD
CY2016 us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Reductions Securities Sold
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsReductionsSecuritiesSold
261000 USD
CY2015 us-gaap Other Than Temporary Impairment Losses Investments Portion In Other Comprehensive Income Loss Before Tax Including Portion Attributable To Noncontrolling Interest
OtherThanTemporaryImpairmentLossesInvestmentsPortionInOtherComprehensiveIncomeLossBeforeTaxIncludingPortionAttributableToNoncontrollingInterest
200000 USD
CY2016 us-gaap Other Than Temporary Impairment Losses Investments Portion In Other Comprehensive Income Loss Before Tax Including Portion Attributable To Noncontrolling Interest
OtherThanTemporaryImpairmentLossesInvestmentsPortionInOtherComprehensiveIncomeLossBeforeTaxIncludingPortionAttributableToNoncontrollingInterest
3000000 USD
CY2015 us-gaap Other Than Temporary Impairment Losses Investments Portion Recognized In Earnings Net
OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNet
200000 USD
CY2016 us-gaap Other Than Temporary Impairment Losses Investments Portion Recognized In Earnings Net
OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNet
400000 USD
CY2014 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
2612000 USD
CY2015 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
2806000 USD
CY2016 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
3742000 USD
CY2014 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossDiluted
2524000 USD
CY2015 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossDiluted
2677000 USD
CY2016 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossDiluted
4035000 USD
CY2014 us-gaap Payments For Proceeds From Derivative Instrument Financing Activities
PaymentsForProceedsFromDerivativeInstrumentFinancingActivities
3352000 USD
CY2015 us-gaap Payments For Proceeds From Derivative Instrument Financing Activities
PaymentsForProceedsFromDerivativeInstrumentFinancingActivities
43000 USD
CY2016 us-gaap Payments For Proceeds From Derivative Instrument Financing Activities
PaymentsForProceedsFromDerivativeInstrumentFinancingActivities
156000 USD
CY2014 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 USD
CY2015 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
85820000 USD
CY2016 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
28073000 USD
CY2016 us-gaap Payments For Restructuring
PaymentsForRestructuring
4618000 USD
CY2014 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
6934000 USD
CY2015 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
33000 USD
CY2016 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0 USD
CY2014 us-gaap Payments Of Dividends
PaymentsOfDividends
95273000 USD
CY2015 us-gaap Payments Of Dividends
PaymentsOfDividends
94871000 USD
CY2016 us-gaap Payments Of Dividends
PaymentsOfDividends
88465000 USD
CY2014 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
7643000 USD
CY2015 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
8448000 USD
CY2016 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
7329000 USD
CY2015 us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
33000000 USD
CY2016 us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
35000000 USD
CY2014 us-gaap Payments To Acquire Loans And Leases Held For Investment
PaymentsToAcquireLoansAndLeasesHeldForInvestment
87454000 USD
CY2015 us-gaap Payments To Acquire Loans And Leases Held For Investment
PaymentsToAcquireLoansAndLeasesHeldForInvestment
22219000 USD
CY2016 us-gaap Payments To Acquire Loans And Leases Held For Investment
PaymentsToAcquireLoansAndLeasesHeldForInvestment
0 USD
CY2014 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
168654000 USD
CY2015 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
179265000 USD
CY2016 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
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<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 mortgages 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.</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;">Our primary sources of income are net interest income from our investment portfolios and non-interest income from our mortgage banking activities. Net interest income consists of the interest income we earn on investments less the interest expense we incur on borrowed funds and other liabilities. Income from mortgage banking activities consists of the profit we seek to generate through the acquisition of loans and their subsequent sale or securitization. </font></div><div style="line-height:120%;padding-top:16px;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:12px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">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. Refer to Item&#160;1 - </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Business</font><font style="font-family:inherit;font-size:10pt;"> in this Annual Report on Form 10-K for additional information on our business.</font></div></div>
CY2016 us-gaap Use Of Estimates
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<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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