2017 Q2 Form 10-Q Financial Statement

#000093023617000036 Filed on August 04, 2017

View on sec.gov

Income Statement

Concept 2017 Q2 2016 Q2
Revenue $59.22M $66.79M
YoY Change -11.32% 5.39%
Cost Of Revenue $24.20M $22.40M
YoY Change 8.04% -2.61%
Gross Profit $35.00M $44.30M
YoY Change -20.99% 9.65%
Gross Profit Margin 59.1% 66.33%
Selling, General & Admin $16.50M $17.30M
YoY Change -4.62% -18.01%
% of Gross Profit 47.14% 39.05%
Research & Development $1.689M $1.960M
YoY Change -13.83% -12.58%
% of Gross Profit 4.83% 4.42%
Depreciation & Amortization $300.0K $300.0K
YoY Change 0.0% 50.0%
% of Gross Profit 0.86% 0.68%
Operating Expenses $18.64M $20.16M
YoY Change -7.51% -20.08%
Operating Profit $16.36M $24.15M
YoY Change -32.25% 59.04%
Interest Expense $24.23M $22.44M
YoY Change 7.98% -2.45%
% of Operating Profit 148.14% 92.96%
Other Income/Expense, Net
YoY Change
Pretax Income $41.65M $41.61M
YoY Change 0.09% 40.99%
Income Tax $5.322M $327.0K
% Of Pretax Income 12.78% 0.79%
Net Earnings $36.32M $41.28M
YoY Change -12.01% 52.53%
Net Earnings / Revenue 61.33% 61.81%
Basic Earnings Per Share $0.46 $0.52
Diluted Earnings Per Share $0.43 $0.48
COMMON SHARES
Basic Shares Outstanding 76.82M shares 76.66M shares
Diluted Shares Outstanding 97.49M shares 97.76M shares

Balance Sheet

Concept 2017 Q2 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.436B $1.101B
YoY Change 30.43% -20.47%
Cash & Equivalents $217.2M $216.9M
Short-Term Investments $1.219B $883.8M
Other Short-Term Assets $1.000M $2.000M
YoY Change -50.0% -33.33%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $319.0M $342.0M
YoY Change -6.73% 10.68%
LONG-TERM ASSETS
Property, Plant & Equipment $3.025M $3.542M
YoY Change -14.6% -20.26%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $1.282B $994.0M
YoY Change 28.97% -25.04%
Other Assets $2.000M $8.000M
YoY Change -75.0% -50.0%
Total Long-Term Assets $5.336B $5.556B
YoY Change -3.94% 5.08%
TOTAL ASSETS
Total Short-Term Assets $319.0M $342.0M
Total Long-Term Assets $5.336B $5.556B
Total Assets $5.655B $5.898B
YoY Change -4.11% 5.39%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.234M $1.331M
YoY Change -7.29% -75.56%
Accrued Expenses $23.00M $22.00M
YoY Change 4.55% -8.33%
Deferred Revenue
YoY Change
Short-Term Debt $1.295B $1.059B
YoY Change 22.26% -22.53%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.330B $1.082B
YoY Change 22.92% -22.49%
LONG-TERM LIABILITIES
Long-Term Debt $3.029B $3.544B
YoY Change -14.53% 24.74%
Other Long-Term Liabilities $116.0M $179.0M
YoY Change -35.2% 115.66%
Total Long-Term Liabilities $3.145B $3.723B
YoY Change -15.53% 27.33%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.330B $1.082B
Total Long-Term Liabilities $3.145B $3.723B
Total Liabilities $4.476B $4.805B
YoY Change -6.85% 10.94%
SHAREHOLDERS EQUITY
Retained Earnings $1.223B $1.072B
YoY Change 14.1% 11.85%
Common Stock $1.680B $1.680B
YoY Change 0.03% -5.64%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.179B $1.093B
YoY Change
Total Liabilities & Shareholders Equity $5.655B $5.898B
YoY Change -4.11% 5.39%

Cashflow Statement

Concept 2017 Q2 2016 Q2
OPERATING ACTIVITIES
Net Income $36.32M $41.28M
YoY Change -12.01% 52.53%
Depreciation, Depletion And Amortization $300.0K $300.0K
YoY Change 0.0% 50.0%
Cash From Operating Activities -$520.5M -$466.7M
YoY Change 11.53% 179.13%
INVESTING ACTIVITIES
Capital Expenditures -$8.400M
YoY Change -22.22%
Acquisitions
YoY Change
Other Investing Activities $143.3M $266.9M
YoY Change -46.31% -18.35%
Cash From Investing Activities $143.4M $258.6M
YoY Change -44.55% -18.19%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 372.7M 119.9M
YoY Change 210.84% -152.98%
NET CHANGE
Cash From Operating Activities -520.5M -466.7M
Cash From Investing Activities 143.4M 258.6M
Cash From Financing Activities 372.7M 119.9M
Net Change In Cash -4.400M -88.20M
YoY Change -95.01% 13.95%
FREE CASH FLOW
Cash From Operating Activities -$520.5M -$466.7M
Capital Expenditures -$8.400M
Free Cash Flow -$458.3M
YoY Change 193.03%

Facts In Submission

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us-gaap Contractually Specified Servicing Fees Late Fees And Ancillary Fees Earned In Exchange For Servicing Financial Assets
ContractuallySpecifiedServicingFeesLateFeesAndAncillaryFeesEarnedInExchangeForServicingFinancialAssets
11379000 USD
CY2016Q4 us-gaap Cumulative Dividends
CumulativeDividends
1749614000 USD
CY2017Q2 us-gaap Cumulative Dividends
CumulativeDividends
1793726000 USD
CY2016Q4 us-gaap Deferred Income Tax Liabilities Net
DeferredIncomeTaxLiabilitiesNet
898000 USD
CY2017Q2 us-gaap Deferred Income Tax Liabilities Net
DeferredIncomeTaxLiabilitiesNet
898000 USD
us-gaap Depreciation And Amortization
DepreciationAndAmortization
575000 USD
us-gaap Depreciation And Amortization
DepreciationAndAmortization
605000 USD
CY2016Q4 us-gaap Derivative Assets
DerivativeAssets
36595000 USD
CY2017Q2 us-gaap Derivative Assets
DerivativeAssets
12264000 USD
CY2016Q4 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
-29734000 USD
CY2017Q2 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
-56911000 USD
CY2016Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
66329000 USD
CY2017Q2 us-gaap Derivative Liabilities
DerivativeLiabilities
69175000 USD
CY2016Q4 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned
DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoaned
854067000 USD
CY2017Q2 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned
DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoaned
1110550000 USD
CY2016Q4 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Amount Offset Against Collateral
DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoanedAmountOffsetAgainstCollateral
745000 USD
CY2017Q2 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Amount Offset Against Collateral
DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoanedAmountOffsetAgainstCollateral
78000 USD
CY2016Q4 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Asset
DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoanedAsset
0 USD
CY2017Q2 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Asset
DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoanedAsset
0 USD
CY2016Q4 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Collateral Right To Reclaim Cash
DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoanedCollateralRightToReclaimCash
50111000 USD
CY2017Q2 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Collateral Right To Reclaim Cash
DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoanedCollateralRightToReclaimCash
60774000 USD
CY2016Q4 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Collateral Right To Reclaim Securities
DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoanedCollateralRightToReclaimSecurities
803211000 USD
CY2017Q2 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Collateral Right To Reclaim Securities
DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoanedCollateralRightToReclaimSecurities
1049698000 USD
CY2016Q4 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Gross
DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoanedGross
854067000 USD
CY2017Q2 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Gross
DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoanedGross
1110550000 USD
us-gaap Dividends Common Stock
DividendsCommonStock
44303000 USD
us-gaap Dividends Common Stock
DividendsCommonStock
44112000 USD
CY2016Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.52
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.67
CY2017Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.46
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.93
CY2016Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.48
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.67
CY2017Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.43
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.85
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.007
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.135
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
0.255
us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.029
us-gaap Effective Income Tax Rate Reconciliation Deductions
EffectiveIncomeTaxRateReconciliationDeductions
0.328
us-gaap Effective Income Tax Rate Reconciliation Deductions
EffectiveIncomeTaxRateReconciliationDeductions
0.072
us-gaap Effective Income Tax Rate Reconciliation Deductions Dividends
EffectiveIncomeTaxRateReconciliationDeductionsDividends
0.332
us-gaap Effective Income Tax Rate Reconciliation Deductions Dividends
EffectiveIncomeTaxRateReconciliationDeductionsDividends
0.176
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
CY2016Q4 us-gaap Employee Related Liabilities Current And Noncurrent
EmployeeRelatedLiabilitiesCurrentAndNoncurrent
18830000 USD
CY2017Q2 us-gaap Employee Related Liabilities Current And Noncurrent
EmployeeRelatedLiabilitiesCurrentAndNoncurrent
12144000 USD
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
6913000 USD
CY2016Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
18146000 USD
CY2017Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
19116000 USD
CY2016Q4 us-gaap Federal Home Loan Bank Stock
FederalHomeLoanBankStock
43393000 USD
CY2017Q2 us-gaap Federal Home Loan Bank Stock
FederalHomeLoanBankStock
43393000 USD
CY2017Q2 us-gaap Financial Instruments Owned And Pledged As Collateral At Fair Value
FinancialInstrumentsOwnedAndPledgedAsCollateralAtFairValue
7000000 USD
us-gaap Gain Loss On Sale Of Investments
GainLossOnSaleOfInvestments
19422000 USD
CY2016Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1065000 USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
2445000 USD
CY2017Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1140000 USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
2243000 USD
CY2016Q4 us-gaap Guaranty Assets
GuarantyAssets
4092000 USD
CY2017Q2 us-gaap Guaranty Assets
GuarantyAssets
3288000 USD
CY2016Q4 us-gaap Guaranty Liabilities
GuarantyLiabilities
21668000 USD
CY2017Q2 us-gaap Guaranty Liabilities
GuarantyLiabilities
20692000 USD
CY2016Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
41608000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
53699000 USD
CY2017Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
41646000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
84772000 USD
CY2016Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
327000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
355000 USD
CY2017Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
5322000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
11479000 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
467000 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
1040000 USD
us-gaap Increase Decrease In Operating Assets
IncreaseDecreaseInOperatingAssets
20667000 USD
us-gaap Increase Decrease In Operating Assets
IncreaseDecreaseInOperatingAssets
26226000 USD
us-gaap Increase Decrease In Operating Liabilities
IncreaseDecreaseInOperatingLiabilities
5390000 USD
us-gaap Increase Decrease In Operating Liabilities
IncreaseDecreaseInOperatingLiabilities
-16840000 USD
us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
2726000 USD
us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
-6617000 USD
CY2016Q2 us-gaap Increase Decrease In Trading Securities
IncreaseDecreaseInTradingSecurities
400000 USD
us-gaap Increase Decrease In Trading Securities
IncreaseDecreaseInTradingSecurities
-4000000 USD
CY2017Q2 us-gaap Increase Decrease In Trading Securities
IncreaseDecreaseInTradingSecurities
19000000 USD
us-gaap Increase Decrease In Trading Securities
IncreaseDecreaseInTradingSecurities
30000000 USD
CY2016Q2 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
11825450 shares
CY2017Q2 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
20439168 shares
us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
20766137 shares
CY2016Q2 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
66787000 USD
us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
129115000 USD
CY2017Q2 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
59224000 USD
us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
113852000 USD
CY2016Q2 us-gaap Interest And Fee Income Loans Commercial Real Estate
InterestAndFeeIncomeLoansCommercialRealEstate
12921000 USD
us-gaap Interest And Fee Income Loans Commercial Real Estate
InterestAndFeeIncomeLoansCommercialRealEstate
22381000 USD
CY2017Q2 us-gaap Interest And Fee Income Loans Commercial Real Estate
InterestAndFeeIncomeLoansCommercialRealEstate
263000 USD
us-gaap Interest And Fee Income Loans Commercial Real Estate
InterestAndFeeIncomeLoansCommercialRealEstate
345000 USD
CY2016Q2 us-gaap Interest And Fee Income Loans Consumer Real Estate
InterestAndFeeIncomeLoansConsumerRealEstate
35154000 USD
us-gaap Interest And Fee Income Loans Consumer Real Estate
InterestAndFeeIncomeLoansConsumerRealEstate
66554000 USD
CY2017Q2 us-gaap Interest And Fee Income Loans Consumer Real Estate
InterestAndFeeIncomeLoansConsumerRealEstate
36635000 USD
us-gaap Interest And Fee Income Loans Consumer Real Estate
InterestAndFeeIncomeLoansConsumerRealEstate
70997000 USD
us-gaap Interest Expense
InterestExpense
46394000 USD
CY2016Q2 us-gaap Interest Expense
InterestExpense
22444000 USD
CY2017Q2 us-gaap Interest Expense
InterestExpense
24234000 USD
us-gaap Interest Expense
InterestExpense
45265000 USD
CY2016Q2 us-gaap Interest Expense Beneficial Interests Issued By Consolidated Variable Interest Entities
InterestExpenseBeneficialInterestsIssuedByConsolidatedVariableInterestEntities
3982000 USD
us-gaap Interest Expense Beneficial Interests Issued By Consolidated Variable Interest Entities
InterestExpenseBeneficialInterestsIssuedByConsolidatedVariableInterestEntities
8264000 USD
CY2017Q2 us-gaap Interest Expense Beneficial Interests Issued By Consolidated Variable Interest Entities
InterestExpenseBeneficialInterestsIssuedByConsolidatedVariableInterestEntities
3705000 USD
us-gaap Interest Expense Beneficial Interests Issued By Consolidated Variable Interest Entities
InterestExpenseBeneficialInterestsIssuedByConsolidatedVariableInterestEntities
7235000 USD
CY2016Q2 us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
13125000 USD
us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
26096000 USD
CY2017Q2 us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
11179000 USD
us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
24227000 USD
CY2016Q2 us-gaap Interest Expense Short Term Borrowings
InterestExpenseShortTermBorrowings
5337000 USD
us-gaap Interest Expense Short Term Borrowings
InterestExpenseShortTermBorrowings
12034000 USD
CY2017Q2 us-gaap Interest Expense Short Term Borrowings
InterestExpenseShortTermBorrowings
9350000 USD
us-gaap Interest Expense Short Term Borrowings
InterestExpenseShortTermBorrowings
13803000 USD
CY2016Q2 us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
50875000 USD
us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
88964000 USD
CY2017Q2 us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
34990000 USD
us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
68587000 USD
CY2016Q2 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
44343000 USD
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
82721000 USD
CY2017Q2 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
34990000 USD
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
68587000 USD
CY2016Q2 us-gaap Interest Income Other
InterestIncomeOther
295000 USD
us-gaap Interest Income Other
InterestIncomeOther
668000 USD
CY2017Q2 us-gaap Interest Income Other
InterestIncomeOther
500000 USD
us-gaap Interest Income Other
InterestIncomeOther
867000 USD
CY2016Q2 us-gaap Interest Income Securities Mortgage Backed
InterestIncomeSecuritiesMortgageBacked
18417000 USD
us-gaap Interest Income Securities Mortgage Backed
InterestIncomeSecuritiesMortgageBacked
39512000 USD
CY2017Q2 us-gaap Interest Income Securities Mortgage Backed
InterestIncomeSecuritiesMortgageBacked
21826000 USD
us-gaap Interest Income Securities Mortgage Backed
InterestIncomeSecuritiesMortgageBacked
41643000 USD
CY2016Q2 us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
7015000 USD
us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
7637000 USD
CY2017Q2 us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
6205000 USD
us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
12075000 USD
us-gaap Interest Paid
InterestPaid
45758000 USD
us-gaap Interest Paid
InterestPaid
44274000 USD
CY2016Q4 us-gaap Interest Payable Current
InterestPayableCurrent
3000000 USD
CY2017Q2 us-gaap Interest Payable Current
InterestPayableCurrent
5000000 USD
CY2016Q4 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
9608000 USD
CY2017Q2 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
9939000 USD
CY2016Q4 us-gaap Interest Receivable
InterestReceivable
18454000 USD
CY2017Q2 us-gaap Interest Receivable
InterestReceivable
20101000 USD
CY2016Q4 us-gaap Investments
Investments
5237860000 USD
CY2017Q2 us-gaap Investments
Investments
5404782000 USD
CY2016Q2 us-gaap Labor And Related Expense
LaborAndRelatedExpense
12891000 USD
us-gaap Labor And Related Expense
LaborAndRelatedExpense
24877000 USD
CY2017Q2 us-gaap Labor And Related Expense
LaborAndRelatedExpense
12755000 USD
us-gaap Labor And Related Expense
LaborAndRelatedExpense
24866000 USD
CY2016Q4 us-gaap Liabilities
Liabilities
4334049000 USD
CY2017Q2 us-gaap Liabilities
Liabilities
4476058000 USD
CY2016Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
5483477000 USD
CY2017Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
5655482000 USD
CY2016Q4 us-gaap Line Of Credit
LineOfCredit
0 USD
CY2017Q2 us-gaap Line Of Credit
LineOfCredit
0 USD
CY2017Q2 us-gaap Line Of Credit Facility Current Borrowing Capacity
LineOfCreditFacilityCurrentBorrowingCapacity
10000000 USD
CY2016Q4 us-gaap Litigation Reserve
LitigationReserve
2000000 USD
CY2017Q2 us-gaap Litigation Reserve
LitigationReserve
2000000 USD
CY2017Q2 us-gaap Litigation Reserve
LitigationReserve
2000000 USD
CY2016Q4 us-gaap Loans And Leases Receivable Net Reported Amount
LoansAndLeasesReceivableNetReportedAmount
3888051000 USD
CY2017Q2 us-gaap Loans And Leases Receivable Net Reported Amount
LoansAndLeasesReceivableNetReportedAmount
3905291000 USD
CY2016Q4 us-gaap Loans Receivable Commercial Real Estate
LoansReceivableCommercialRealEstate
2700000 USD
CY2017Q2 us-gaap Loans Receivable Commercial Real Estate
LoansReceivableCommercialRealEstate
0 USD
CY2016Q4 us-gaap Long Term Debt
LongTermDebt
2620683000 USD
CY2017Q2 us-gaap Long Term Debt
LongTermDebt
2336346000 USD
CY2016Q4 us-gaap Margin Deposit Assets
MarginDepositAssets
68038000 USD
CY2017Q2 us-gaap Margin Deposit Assets
MarginDepositAssets
100156000 USD
CY2016Q4 us-gaap Marketable Securities
MarketableSecurities
1018439000 USD
CY2017Q2 us-gaap Marketable Securities
MarketableSecurities
1218503000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-374201000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
65700000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
731560000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
205582000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-360665000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-266908000 USD
CY2016Q2 us-gaap Net Income Loss
NetIncomeLoss
41281000 USD
us-gaap Net Income Loss
NetIncomeLoss
53344000 USD
CY2017Q2 us-gaap Net Income Loss
NetIncomeLoss
36324000 USD
us-gaap Net Income Loss
NetIncomeLoss
73293000 USD
CY2016Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
40192000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
51850000 USD
CY2017Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
35440000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
71441000 USD
CY2016Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
47162000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
59313000 USD
CY2017Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
41594000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
83428000 USD
CY2016Q2 us-gaap Noninterest Income
NoninterestIncome
10888000 USD
us-gaap Noninterest Income
NoninterestIncome
15342000 USD
CY2017Q2 us-gaap Noninterest Income
NoninterestIncome
25297000 USD
us-gaap Noninterest Income
NoninterestIncome
53052000 USD
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2 Segment
CY2016Q2 us-gaap Operating Expenses
OperatingExpenses
20155000 USD
us-gaap Operating Expenses
OperatingExpenses
50607000 USD
CY2017Q2 us-gaap Operating Expenses
OperatingExpenses
18641000 USD
us-gaap Operating Expenses
OperatingExpenses
36867000 USD
CY2017Q2 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
18167000 USD
CY2017Q2 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
1965000 USD
CY2017Q2 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
1986000 USD
CY2017Q2 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
1935000 USD
CY2017Q2 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
590000 USD
CY2016Q4 us-gaap Other Assets
OtherAssets
181945000 USD
CY2017Q2 us-gaap Other Assets
OtherAssets
216329000 USD
CY2016Q4 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
7995000 USD
CY2017Q2 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
3151000 USD
CY2016Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
6260000 USD
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-3843000 USD
CY2017Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
1811000 USD
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
4741000 USD
CY2016Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Before Reclassification Adjustments Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesBeforeReclassificationAdjustmentsTax
-300000 USD
us-gaap Other Comprehensive Income Loss Available For Sale Securities Before Reclassification Adjustments Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesBeforeReclassificationAdjustmentsTax
-400000 USD
CY2017Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Before Reclassification Adjustments Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesBeforeReclassificationAdjustmentsTax
-100000 USD
us-gaap Other Comprehensive Income Loss Available For Sale Securities Before Reclassification Adjustments Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesBeforeReclassificationAdjustmentsTax
100000 USD
CY2016Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-10381000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-45662000 USD
CY2017Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-2926000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-2177000 USD
CY2016Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
7711000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
18664000 USD
CY2017Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
2322000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
6250000 USD
CY2016Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
-19000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
-37000 USD
CY2017Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
-14000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
-28000 USD
CY2016Q2 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-8949000 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
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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;">two</font><font style="font-family:inherit;font-size:10pt;"> segments: Investment Portfolio and Residential Mortgage Banking. 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>

Files In Submission

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