2018 Q2 Form 10-Q Financial Statement

#000093023618000028 Filed on August 08, 2018

View on sec.gov

Income Statement

Concept 2018 Q2 2017 Q2
Revenue $82.98M $59.22M
YoY Change 40.11% -11.32%
Cost Of Revenue $48.20M $24.20M
YoY Change 99.17% 8.04%
Gross Profit $34.80M $35.00M
YoY Change -0.57% -20.99%
Gross Profit Margin 41.94% 59.1%
Selling, General & Admin $15.40M $16.50M
YoY Change -6.67% -4.62%
% of Gross Profit 44.25% 47.14%
Research & Development $1.774M $1.689M
YoY Change 5.03% -13.83%
% of Gross Profit 5.1% 4.83%
Depreciation & Amortization $300.0K $300.0K
YoY Change 0.0% 0.0%
% of Gross Profit 0.86% 0.86%
Operating Expenses $19.01M $18.64M
YoY Change 1.97% -7.51%
Operating Profit $15.79M $16.36M
YoY Change -3.47% -32.25%
Interest Expense $48.21M $24.23M
YoY Change 98.95% 7.98%
% of Operating Profit 305.32% 148.14%
Other Income/Expense, Net
YoY Change
Pretax Income $35.28M $41.65M
YoY Change -15.3% 0.09%
Income Tax $2.528M $5.322M
% Of Pretax Income 7.17% 12.78%
Net Earnings $32.75M $36.32M
YoY Change -9.85% -12.01%
Net Earnings / Revenue 39.47% 61.33%
Basic Earnings Per Share $0.42 $0.46
Diluted Earnings Per Share $0.38 $0.43
COMMON SHARES
Basic Shares Outstanding 75.38M shares 76.82M shares
Diluted Shares Outstanding 100.4M shares 97.49M shares

Balance Sheet

Concept 2018 Q2 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.639B $1.436B
YoY Change 14.15% 30.43%
Cash & Equivalents $185.0M $217.2M
Short-Term Investments $1.454B $1.219B
Other Short-Term Assets $1.000M
YoY Change -50.0%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $235.0M $319.0M
YoY Change -26.33% -6.73%
LONG-TERM ASSETS
Property, Plant & Equipment $5.189M $3.025M
YoY Change 71.54% -14.6%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $1.454B $1.282B
YoY Change 13.42% 28.97%
Other Assets $15.00M $2.000M
YoY Change 650.0% -75.0%
Total Long-Term Assets $7.278B $5.336B
YoY Change 36.37% -3.94%
TOTAL ASSETS
Total Short-Term Assets $235.0M $319.0M
Total Long-Term Assets $7.278B $5.336B
Total Assets $7.513B $5.655B
YoY Change 32.84% -4.11%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.234M
YoY Change -7.29%
Accrued Expenses $35.00M $23.00M
YoY Change 52.17% 4.55%
Deferred Revenue
YoY Change
Short-Term Debt $1.426B $1.295B
YoY Change 10.15% 22.26%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.464B $1.330B
YoY Change 10.08% 22.92%
LONG-TERM LIABILITIES
Long-Term Debt $4.700B $3.029B
YoY Change 55.17% -14.53%
Other Long-Term Liabilities $108.0M $116.0M
YoY Change -6.9% -35.2%
Total Long-Term Liabilities $4.808B $3.145B
YoY Change 52.88% -15.53%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.464B $1.330B
Total Long-Term Liabilities $4.808B $3.145B
Total Liabilities $6.284B $4.476B
YoY Change 40.38% -6.85%
SHAREHOLDERS EQUITY
Retained Earnings $1.370B $1.223B
YoY Change 11.99% 14.1%
Common Stock $1.667B $1.680B
YoY Change -0.82% 0.03%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.229B $1.179B
YoY Change
Total Liabilities & Shareholders Equity $7.513B $5.655B
YoY Change 32.84% -4.11%

Cashflow Statement

Concept 2018 Q2 2017 Q2
OPERATING ACTIVITIES
Net Income $32.75M $36.32M
YoY Change -9.85% -12.01%
Depreciation, Depletion And Amortization $300.0K $300.0K
YoY Change 0.0% 0.0%
Cash From Operating Activities -$531.2M -$520.5M
YoY Change 2.06% 11.53%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $70.50M $143.3M
YoY Change -50.8% -46.31%
Cash From Investing Activities $70.50M $143.4M
YoY Change -50.84% -44.55%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 479.7M 372.7M
YoY Change 28.71% 210.84%
NET CHANGE
Cash From Operating Activities -531.2M -520.5M
Cash From Investing Activities 70.50M 143.4M
Cash From Financing Activities 479.7M 372.7M
Net Change In Cash 19.00M -4.400M
YoY Change -531.82% -95.01%
FREE CASH FLOW
Cash From Operating Activities -$531.2M -$520.5M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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9716000 USD
CY2017Q4 us-gaap Derivative Liabilities
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63081000 USD
CY2018Q2 us-gaap Derivative Liabilities
DerivativeLiabilities
55929000 USD
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1747787000 USD
CY2018Q2 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned
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1477516000 USD
CY2017Q4 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Amount Offset Against Collateral
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2299000 USD
CY2018Q2 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Collateral Right To Reclaim Cash
DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoanedCollateralRightToReclaimCash
36288000 USD
CY2017Q4 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Collateral Right To Reclaim Securities
DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoanedCollateralRightToReclaimSecurities
1694741000 USD
CY2018Q2 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Collateral Right To Reclaim Securities
DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoanedCollateralRightToReclaimSecurities
1441228000 USD
CY2017Q4 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Gross
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1747787000 USD
CY2018Q2 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Gross
DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoanedGross
1477516000 USD
us-gaap Dividends Common Stock
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44112000 USD
us-gaap Dividends Common Stock
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45191000 USD
CY2017Q2 us-gaap Earnings Per Share Basic
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0.46
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.93
CY2018Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.42
us-gaap Earnings Per Share Basic
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1.02
CY2017Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.43
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.85
CY2018Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.38
us-gaap Contractually Specified Servicing Fees Amount
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13418000 USD
CY2018Q2 us-gaap Contractually Specified Servicing Fees Amount
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3802000 USD
us-gaap Contractually Specified Servicing Fees Amount
ContractuallySpecifiedServicingFeesAmount
7597000 USD
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ContractuallySpecifiedServicingFeesLateFeesAndAncillaryFeesEarnedInExchangeForServicingFinancialAssets
5852000 USD
us-gaap Contractually Specified Servicing Fees Late Fees And Ancillary Fees Earned In Exchange For Servicing Financial Assets
ContractuallySpecifiedServicingFeesLateFeesAndAncillaryFeesEarnedInExchangeForServicingFinancialAssets
11379000 USD
CY2018Q2 us-gaap Contractually Specified Servicing Fees Late Fees And Ancillary Fees Earned In Exchange For Servicing Financial Assets
ContractuallySpecifiedServicingFeesLateFeesAndAncillaryFeesEarnedInExchangeForServicingFinancialAssets
3464000 USD
us-gaap Contractually Specified Servicing Fees Late Fees And Ancillary Fees Earned In Exchange For Servicing Financial Assets
ContractuallySpecifiedServicingFeesLateFeesAndAncillaryFeesEarnedInExchangeForServicingFinancialAssets
6667000 USD
CY2017Q4 us-gaap Convertible Notes Payable Current
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250000000 USD
CY2017Q4 us-gaap Cumulative Dividends
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1837913000 USD
CY2018Q2 us-gaap Cumulative Dividends
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1883104000 USD
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613000000 USD
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11764000 USD
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11764000 USD
us-gaap Depreciation And Amortization
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605000 USD
us-gaap Depreciation And Amortization
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582000 USD
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15718000 USD
CY2018Q2 us-gaap Derivative Assets
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65645000 USD
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us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.34
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2017Q4 us-gaap Guaranty Liabilities
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19487000 USD
us-gaap Increase Decrease In Trading Securities
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-4000000 USD
CY2017Q4 us-gaap Guaranty Assets
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2869000 USD
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20439168 shares
us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
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20766137 shares
us-gaap Income Taxes Paid
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3722000 USD
us-gaap Increase Decrease In Operating Assets
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26226000 USD
CY2018Q2 us-gaap Guaranty Assets
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2936000 USD
CY2018Q2 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
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24773490 shares
us-gaap Increase Decrease In Operating Assets
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-32478000 USD
us-gaap Increase Decrease In Operating Liabilities
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-16840000 USD
us-gaap Increase Decrease In Operating Liabilities
IncreaseDecreaseInOperatingLiabilities
-3582000 USD
CY2017Q2 us-gaap Increase Decrease In Trading Securities
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19000000 USD
us-gaap Increase Decrease In Trading Securities
IncreaseDecreaseInTradingSecurities
30000000 USD
us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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-0.029
us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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-0.033
us-gaap Effective Income Tax Rate Reconciliation Deductions
EffectiveIncomeTaxRateReconciliationDeductions
0.072
us-gaap Effective Income Tax Rate Reconciliation Deductions
EffectiveIncomeTaxRateReconciliationDeductions
0.029
us-gaap Effective Income Tax Rate Reconciliation Deductions Dividends
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0.176
us-gaap Effective Income Tax Rate Reconciliation Deductions Dividends
EffectiveIncomeTaxRateReconciliationDeductionsDividends
0.149
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
0.086
CY2017Q4 us-gaap Employee Related Liabilities Current And Noncurrent
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24025000 USD
CY2018Q2 us-gaap Employee Related Liabilities Current And Noncurrent
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13387000 USD
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
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7616000 USD
CY2017Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
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21470000 USD
CY2018Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
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22554000 USD
CY2017Q4 us-gaap Federal Home Loan Bank Stock
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43393000 USD
CY2018Q2 us-gaap Federal Home Loan Bank Stock
FederalHomeLoanBankStock
43393000 USD
CY2018Q2 us-gaap Financial Instruments Owned And Pledged As Collateral At Fair Value
FinancialInstrumentsOwnedAndPledgedAsCollateralAtFairValue
4000000 USD
us-gaap Gain Loss On Sale Of Investments
GainLossOnSaleOfInvestments
7075000 USD
us-gaap Gain Loss On Sale Of Investments
GainLossOnSaleOfInvestments
14077000 USD
CY2017Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1140000 USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
2243000 USD
CY2018Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1084000 USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
2224000 USD
CY2018Q2 us-gaap Guaranty Liabilities
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18124000 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
CY2018Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
35275000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
87016000 USD
CY2017Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
5322000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
11479000 USD
CY2018Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2528000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
7424000 USD
us-gaap Income Taxes Paid
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1040000 USD
us-gaap Interest Paid
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83781000 USD
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2000000 USD
us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
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28746235 shares
CY2018Q2 us-gaap Interest Payable Current
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3000000 USD
CY2017Q4 us-gaap Interest Payable Current And Noncurrent
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18435000 USD
CY2017Q2 us-gaap Interest And Dividend Income Operating
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59224000 USD
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13175000 USD
us-gaap Interest Expense Short Term Borrowings
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26610000 USD
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21925000 USD
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34990000 USD
us-gaap Interest On Convertible Debt Net Of Tax
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14976000 USD
us-gaap Interest Paid
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44274000 USD
us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
113852000 USD
CY2018Q2 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
82976000 USD
us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
159595000 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
CY2018Q2 us-gaap Interest And Fee Income Loans Consumer Real Estate
InterestAndFeeIncomeLoansConsumerRealEstate
55514000 USD
us-gaap Interest And Fee Income Loans Consumer Real Estate
InterestAndFeeIncomeLoansConsumerRealEstate
105745000 USD
CY2017Q2 us-gaap Interest Expense
InterestExpense
24234000 USD
us-gaap Interest Expense
InterestExpense
45265000 USD
CY2018Q2 us-gaap Interest Expense
InterestExpense
48213000 USD
us-gaap Interest Expense
InterestExpense
89727000 USD
CY2017Q2 us-gaap Interest Expense Beneficial Interests Issued By Consolidated Variable Interest Entities
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3705000 USD
us-gaap Interest Expense Beneficial Interests Issued By Consolidated Variable Interest Entities
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7235000 USD
CY2018Q2 us-gaap Interest Expense Beneficial Interests Issued By Consolidated Variable Interest Entities
InterestExpenseBeneficialInterestsIssuedByConsolidatedVariableInterestEntities
16349000 USD
us-gaap Interest Expense Beneficial Interests Issued By Consolidated Variable Interest Entities
InterestExpenseBeneficialInterestsIssuedByConsolidatedVariableInterestEntities
27750000 USD
CY2017Q2 us-gaap Interest Expense Long Term Debt
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11179000 USD
us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
24227000 USD
CY2018Q2 us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
18689000 USD
us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
35367000 USD
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InterestExpenseShortTermBorrowings
9350000 USD
us-gaap Interest Expense Short Term Borrowings
InterestExpenseShortTermBorrowings
13803000 USD
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InterestIncomeExpenseNet
68587000 USD
CY2018Q2 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
34763000 USD
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
69868000 USD
CY2017Q2 us-gaap Interest Income Other
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763000 USD
us-gaap Interest Income Other
InterestIncomeOther
1212000 USD
CY2018Q2 us-gaap Interest Income Other
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1166000 USD
us-gaap Interest Income Other
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1859000 USD
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InterestIncomeSecuritiesMortgageBacked
21826000 USD
us-gaap Interest Income Securities Mortgage Backed
InterestIncomeSecuritiesMortgageBacked
41643000 USD
CY2018Q2 us-gaap Interest Income Securities Mortgage Backed
InterestIncomeSecuritiesMortgageBacked
26296000 USD
us-gaap Interest Income Securities Mortgage Backed
InterestIncomeSecuritiesMortgageBacked
51991000 USD
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6205000 USD
us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
12075000 USD
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6335000 USD
CY2017Q4 us-gaap Interest Receivable
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27013000 USD
CY2018Q2 us-gaap Interest Receivable
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29066000 USD
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12755000 USD
us-gaap Labor And Related Expense
LaborAndRelatedExpense
24866000 USD
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LaborAndRelatedExpense
11435000 USD
us-gaap Labor And Related Expense
LaborAndRelatedExpense
27478000 USD
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us-gaap Net Income Loss
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73293000 USD
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CY2018Q2 us-gaap Liabilities
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6283596000 USD
CY2017Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
7039822000 USD
CY2018Q2 us-gaap Liabilities And Stockholders Equity
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7512551000 USD
CY2017Q4 us-gaap Line Of Credit
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CY2018Q2 us-gaap Line Of Credit
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0 USD
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10000000 USD
CY2017Q4 us-gaap Litigation Reserve
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2000000 USD
CY2018Q2 us-gaap Litigation Reserve
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2000000 USD
CY2018Q2 us-gaap Litigation Reserve
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2000000 USD
CY2017Q4 us-gaap Long Term Debt
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CY2018Q2 us-gaap Long Term Debt
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2770221000 USD
CY2017Q4 us-gaap Margin Deposit Assets
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49538000 USD
CY2017Q4 us-gaap Marketable Securities
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1476510000 USD
CY2018Q2 us-gaap Marketable Securities
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us-gaap Net Cash Provided By Used In Financing Activities
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65700000 USD
us-gaap Net Cash Provided By Used In Financing Activities
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363620000 USD
us-gaap Net Cash Provided By Used In Investing Activities
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198965000 USD
us-gaap Net Cash Provided By Used In Investing Activities
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364014000 USD
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32747000 USD
us-gaap Net Income Loss
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79592000 USD
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35440000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
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71441000 USD
CY2018Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
31673000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
77057000 USD
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41594000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
83428000 USD
CY2018Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
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37926000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
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91984000 USD
CY2017Q2 us-gaap Noninterest Income
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25297000 USD
us-gaap Noninterest Income
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53052000 USD
CY2018Q2 us-gaap Noninterest Income
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19521000 USD
us-gaap Noninterest Income
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59187000 USD
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2 Segment
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18641000 USD
us-gaap Operating Expenses
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36867000 USD
CY2018Q2 us-gaap Operating Expenses
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19009000 USD
us-gaap Operating Expenses
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42039000 USD
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1474000 USD
CY2018Q1 us-gaap Operating Leases Future Minimum Payments Due In Three Years
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1965000 USD
CY2018Q1 us-gaap Operating Leases Future Minimum Payments Due In Two Years
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1987000 USD
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0 USD
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982000 USD
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1000000 USD
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1000000 USD
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CY2018Q2 us-gaap Other Assets
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15046000 USD
CY2018Q2 us-gaap Other Assets Miscellaneous
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11848000 USD
CY2017Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
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1811000 USD
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
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4741000 USD
CY2018Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
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us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
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CY2017Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Before Reclassification Adjustments Tax
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us-gaap Other Comprehensive Income Loss Available For Sale Securities Before Reclassification Adjustments Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesBeforeReclassificationAdjustmentsTax
100000 USD
CY2018Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Before Reclassification Adjustments Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesBeforeReclassificationAdjustmentsTax
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us-gaap Other Comprehensive Income Loss Available For Sale Securities Before Reclassification Adjustments Tax
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us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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OtherComprehensiveIncomeLossNetOfTax
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us-gaap Other Comprehensive Income Loss Net Of Tax
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2322000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
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6250000 USD
CY2018Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
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4748000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
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14135000 USD
CY2017Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
-28000 USD
CY2018Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
0 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
0 USD
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us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
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-696000 USD
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3417000 USD
CY2017Q2 us-gaap Other Cost And Expense Operating
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us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
1470000 USD
CY2018Q2 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
991000 USD
us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
1816000 USD
CY2017Q2 us-gaap Other General Expense
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508000 USD
us-gaap Other General Expense
OtherGeneralExpense
948000 USD
CY2018Q2 us-gaap Other General Expense
OtherGeneralExpense
496000 USD
us-gaap Other General Expense
OtherGeneralExpense
1000000 USD
CY2017Q2 us-gaap Other Income
OtherIncome
3764000 USD
us-gaap Other Income
OtherIncome
6661000 USD
CY2018Q2 us-gaap Other Income
OtherIncome
3322000 USD
us-gaap Other Income
OtherIncome
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us-gaap Nature Of Operations
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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, is a specialty finance company focused on making credit-sensitive investments in residential mortgages and related assets and engaging in mortgage banking activities. Our goal is to provide attractive returns to shareholders through a stable and growing stream of earnings and dividends, as well as through capital appreciation. 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. </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;">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 is generated through the acquisition of loans and their subsequent sale or securitization. </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: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.</font></div></div>
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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