2022 Q3 Form 10-Q Financial Statement

#000162828022021388 Filed on August 05, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $177.7M $167.5M $189.4M
YoY Change 21.92% 20.74% 47.62%
Cost Of Revenue $142.7M $127.0M $136.3M
YoY Change 37.56% -39.72% 32.84%
Gross Profit $34.94M $40.49M $53.10M
YoY Change -16.76% -28.19% 105.82%
Gross Profit Margin 19.66% 24.18% 28.04%
Selling, General & Admin $35.21M $26.82M $30.53M
YoY Change 56.01% -40.33% -15.2%
% of Gross Profit 100.79% 66.23% 57.49%
Research & Development $3.909M $3.703M $3.184M
YoY Change 31.39% 13.17% 6.95%
% of Gross Profit 11.19% 9.15% 6.0%
Depreciation & Amortization $4.405M $3.741M $3.969M
YoY Change 3.19% -11.03% -5.5%
% of Gross Profit 12.61% 9.24% 7.47%
Operating Expenses $46.79M $38.91M $43.40M
YoY Change -16.94% -19.48% -15.24%
Operating Profit -$11.86M $1.574M $9.698M
YoY Change -17.46% -80.46% -138.17%
Interest Expense $142.7M $127.0M $136.3M
YoY Change 37.56% 17.49% 32.91%
% of Operating Profit 8066.52% 1405.42%
Other Income/Expense, Net $4.261M $3.468M $4.085M
YoY Change 5.92% -12.97% -0.27%
Pretax Income -$48.99M -$109.4M $28.46M
YoY Change -158.35% -213.13% -73.84%
Income Tax $1.417M -$9.443M -$2.458M
% Of Pretax Income -8.64%
Net Earnings -$50.41M -$99.97M $30.92M
YoY Change -157.1% -211.04% -68.21%
Net Earnings / Revenue -28.37% -59.7% 16.32%
Basic Earnings Per Share -$0.44 -$0.85 $0.25
Diluted Earnings Per Share -$0.44 -$0.85 $0.24
COMMON SHARES
Basic Shares Outstanding 116.8M shares 119.7M shares 119.9M shares
Diluted Shares Outstanding 116.1M shares 119.7M shares 140.5M shares

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $556.2M $655.3M $767.9M
YoY Change -38.9% -15.54% -2.84%
Cash & Equivalents $297.0M $371.0M $409.0M
Short-Term Investments $259.2M $284.3M $358.9M
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $422.8M $475.0M $524.5M
YoY Change -34.74% -7.07% 1.05%
LONG-TERM ASSETS
Property, Plant & Equipment $12.41M $11.19M $10.11M
YoY Change 32.82% 55.36% 96.1%
Goodwill $23.37M
YoY Change
Intangibles $44.13M
YoY Change
Long-Term Investments $1.012B $963.9M $994.5M
YoY Change 30.52% 45.26% 44.75%
Other Assets $92.86M $93.43M $94.42M
YoY Change -14.7% 69.72% -1.65%
Total Long-Term Assets $12.72B $13.40B $13.73B
YoY Change 2.4% 16.68% 32.29%
TOTAL ASSETS
Total Short-Term Assets $422.8M $475.0M $524.5M
Total Long-Term Assets $12.72B $13.40B $13.73B
Total Assets $13.15B $13.88B $14.25B
YoY Change 0.56% 15.66% 30.8%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.722M $5.518M $21.73M
YoY Change 38.33%
Accrued Expenses $142.4M $138.0M $154.4M
YoY Change -5.39% 20.35% -12.78%
Deferred Revenue
YoY Change
Short-Term Debt $2.110B $1.870B $1.647B
YoY Change 20.52% 25.91% 31.37%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.257B $2.013B $1.823B
YoY Change 18.02% 25.44% 24.55%
LONG-TERM LIABILITIES
Long-Term Debt $9.674B $10.55B $10.84B
YoY Change -0.1% 16.95% 33.61%
Other Long-Term Liabilities $60.78M $53.85M $148.6M
YoY Change -39.64% -28.06% 38.88%
Total Long-Term Liabilities $9.734B $10.60B $10.98B
YoY Change -0.51% 16.58% 33.68%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.257B $2.013B $1.823B
Total Long-Term Liabilities $9.734B $10.60B $10.98B
Total Liabilities $11.99B $12.62B $12.81B
YoY Change 2.52% 17.91% 32.3%
SHAREHOLDERS EQUITY
Retained Earnings $1.197B $1.248B $1.348B
YoY Change -5.93% 5.34% 23.14%
Common Stock $2.346B $2.365B $2.393B
YoY Change 1.42% 3.34% 4.81%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.154B $1.258B $1.445B
YoY Change
Total Liabilities & Shareholders Equity $13.15B $13.88B $14.25B
YoY Change 0.56% 15.66% 30.8%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income -$50.41M -$99.97M $30.92M
YoY Change -157.1% -211.04% -68.21%
Depreciation, Depletion And Amortization $4.405M $3.741M $3.969M
YoY Change 3.19% -11.03% -5.5%
Cash From Operating Activities $361.4M -$199.1M -$291.7M
YoY Change -132.03% -88.19% -69.81%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$34.88M -$66.66M $1.151M
YoY Change -111.9% -113.68% -144.25%
Cash From Investing Activities -$34.88M -$66.66M $270.5M
YoY Change -111.9% -113.68% -53.57%
FINANCING ACTIVITIES
Cash Dividend Paid $28.79M
YoY Change 55.01%
Common Stock Issuance & Retirement, Net $67.63M
YoY Change 58710.43%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -401.2M 226.8M -$27.48M
YoY Change -139.95% -80.33% -107.62%
NET CHANGE
Cash From Operating Activities 361.4M -199.1M -$291.7M
Cash From Investing Activities -34.88M -66.66M $270.5M
Cash From Financing Activities -401.2M 226.8M -$27.48M
Net Change In Cash -74.77M -38.97M -$48.66M
YoY Change -144.13% -14.32% 114.79%
FREE CASH FLOW
Cash From Operating Activities $361.4M -$199.1M -$291.7M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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us-gaap Earnings Per Share Diluted
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CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Net Income Loss
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us-gaap Stock Repurchased During Period Value
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us-gaap Common Stock Dividends Per Share Declared
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CY2021Q2 us-gaap Dividends Common Stock
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us-gaap Common Stock Dividends Per Share Declared
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us-gaap Dividends Common Stock
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us-gaap Net Income Loss
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us-gaap Net Income Loss
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us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
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us-gaap Accretion Amortization Of Discounts And Premiums Investments
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us-gaap Depreciation And Amortization
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us-gaap Depreciation And Amortization
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us-gaap Payments For Origination Of Mortgage Loans Held For Sale
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us-gaap Payments For Origination Of Mortgage Loans Held For Sale
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us-gaap Payments To Purchase Loans Held For Sale
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us-gaap Payments To Purchase Loans Held For Sale
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us-gaap Proceeds From Sale Of Loans Held For Sale
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us-gaap Proceeds From Sale Of Loans Held For Sale
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us-gaap Proceeds From Collection Of Loans Held For Sale
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us-gaap Proceeds From Collection Of Loans Held For Sale
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rwt Payments For Proceeds From Derivative Instrument Operating Activities
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rwt Payments For Proceeds From Derivative Instrument Operating Activities
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us-gaap Share Based Compensation
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us-gaap Share Based Compensation
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rwt Market Valuation Adjustments Net
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rwt Market Valuation Adjustments Net
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us-gaap Gain Loss On Sale Of Investments
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2581000 usd
us-gaap Gain Loss On Sale Of Investments
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us-gaap Increase Decrease In Other Operating Assets
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us-gaap Increase Decrease In Operating Liabilities
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us-gaap Increase Decrease In Operating Liabilities
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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rwt Payments For Origination Of Loans Held For Investment
PaymentsForOriginationOfLoansHeldForInvestment
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rwt Payments For Origination Of Loans Held For Investment
PaymentsForOriginationOfLoansHeldForInvestment
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us-gaap Payments To Acquire Loans Held For Investment
PaymentsToAcquireLoansHeldForInvestment
22006000 usd
us-gaap Payments To Acquire Loans Held For Investment
PaymentsToAcquireLoansHeldForInvestment
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us-gaap Proceeds From Sale Of Finance Receivables
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us-gaap Proceeds From Sale Of Finance Receivables
ProceedsFromSaleOfFinanceReceivables
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us-gaap Proceeds From Collection Of Finance Receivables
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us-gaap Proceeds From Collection Of Finance Receivables
ProceedsFromCollectionOfFinanceReceivables
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rwt Payments To Acquire Real Estate Securities
PaymentsToAcquireRealEstateSecurities
15006000 usd
rwt Payments To Acquire Real Estate Securities
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us-gaap Proceeds From Collection Of Retained Interest In Securitized Receivables
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us-gaap Proceeds From Collection Of Retained Interest In Securitized Receivables
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us-gaap Proceeds From Sale And Maturity Of Marketable Securities
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us-gaap Proceeds From Sale And Maturity Of Marketable Securities
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36735000 usd
rwt Proceeds From Principal Repayments On Securities
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rwt Proceeds From Principal Repayments On Securities
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rwt Repayments Of Servicing Advance Investments
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rwt Repayments Of Servicing Advance Investments
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rwt Payments To Acquire Home Equity Investment Contracts
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rwt Payments To Acquire Home Equity Investment Contracts
PaymentsToAcquireHomeEquityInvestmentContracts
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rwt Proceeds From Payments For Home Equity Contracts Net
ProceedsFromPaymentsForHomeEquityContractsNet
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rwt Proceeds From Payments For Home Equity Contracts Net
ProceedsFromPaymentsForHomeEquityContractsNet
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us-gaap Payments For Proceeds From Other Investing Activities
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14573000 usd
us-gaap Payments For Proceeds From Other Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Proceeds From Short Term Debt
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us-gaap Proceeds From Short Term Debt
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us-gaap Repayments Of Short Term Debt
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us-gaap Repayments Of Short Term Debt
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us-gaap Proceeds From Issuance Of Secured Debt
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us-gaap Proceeds From Issuance Of Secured Debt
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us-gaap Repayments Of Secured Debt
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us-gaap Repayments Of Secured Debt
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us-gaap Proceeds From Other Debt
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us-gaap Proceeds From Other Debt
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us-gaap Payments Of Debt Issuance Costs
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us-gaap Payments Of Debt Issuance Costs
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us-gaap Repayments Of Other Debt
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us-gaap Repayments Of Other Debt
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us-gaap Payments For Repurchase Of Common Stock
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us-gaap Payments For Repurchase Of Common Stock
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us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
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us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
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CY2022Q2 rwt Loans Held For Sale Fair Value Acquired
LoansHeldForSaleFairValueAcquired
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us-gaap Proceeds From Issuance Of Common Stock
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us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
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us-gaap Payments Of Dividends
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us-gaap Payments Of Dividends
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us-gaap Proceeds From Payments For Other Financing Activities
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us-gaap Proceeds From Payments For Other Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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531484000 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
544450000 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
443854000 usd
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
476271000 usd
us-gaap Interest Paid Net
InterestPaidNet
247968000 usd
us-gaap Interest Paid Net
InterestPaidNet
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us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
3894000 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
19183000 usd
CY2022Q2 us-gaap Transfers Of Financial Assets Accounted For As Sale Initial Fair Value Of Assets Obtained As Proceeds
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0 usd
CY2021Q2 us-gaap Transfers Of Financial Assets Accounted For As Sale Initial Fair Value Of Assets Obtained As Proceeds
TransfersOfFinancialAssetsAccountedForAsSaleInitialFairValueOfAssetsObtainedAsProceeds
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us-gaap Servicing Asset At Fair Value Additions
ServicingAssetAtFairValueAdditions
4543000 usd
us-gaap Servicing Asset At Fair Value Additions
ServicingAssetAtFairValueAdditions
0 usd
us-gaap Transfer Of Loans Held For Sale To Portfolio Loans1
TransferOfLoansHeldForSaleToPortfolioLoans1
1953421000 usd
us-gaap Transfer Of Loans Held For Sale To Portfolio Loans1
TransferOfLoansHeldForSaleToPortfolioLoans1
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us-gaap Transfer Of Portfolio Loans And Leases To Held For Sale1
TransferOfPortfolioLoansAndLeasesToHeldForSale1
0 usd
us-gaap Transfer Of Portfolio Loans And Leases To Held For Sale1
TransferOfPortfolioLoansAndLeasesToHeldForSale1
44922000 usd
us-gaap Transfer To Other Real Estate
TransferToOtherRealEstate
3132000 usd
us-gaap Transfer To Other Real Estate
TransferToOtherRealEstate
15827000 usd
rwt Long Term Debt Transferred To Short Term Debt
LongTermDebtTransferredToShortTermDebt
367431000 usd
rwt Long Term Debt Transferred To Short Term Debt
LongTermDebtTransferredToShortTermDebt
47994000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
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us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
0 usd
us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
13375000 usd
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
450000000 usd
CY2021Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
81000000 usd
us-gaap Nature Of Operations
NatureOfOperations
Organization<div style="margin-top:9pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Redwood Trust, Inc., together with its subsidiaries, is a specialty finance company focused on several distinct areas of housing credit, with a mission to help make quality housing, whether rented or owned, accessible to all American households. Our operating platforms occupy a unique position in the housing finance value chain, providing liquidity to growing segments of the U.S. housing market not well served by government programs. We deliver customized housing credit investments to a diverse mix of investors through our best-in-class securitization platforms, whole-loan distribution activities and our publicly-traded securities. Our aggregation, origination and investment activities have evolved to incorporate a diverse mix of residential, business purpose and multifamily assets. Our goal is to provide attractive returns to shareholders through a stable and growing stream of earnings and dividends, capital appreciation, and a commitment to technological innovation that facilitates risk-minded scale. We operate our business in three segments: Residential Mortgage Banking, Business Purpose Mortgage Banking, and Investment Portfolio.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our primary sources of income are net interest income from our investments and non-interest income from our mortgage banking activities. Net interest income primarily 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 origination and acquisition of loans, and their subsequent sale, securitization, or transfer to our investment portfolios. </span></div><div style="margin-top:12pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Redwood Trust, Inc. has elected to be taxed as a real estate investment trust (“REIT”) under the Internal Revenue Code of 1986, as amended (the “Internal Revenue Code”), beginning with its taxable year ended December 31, 1994. We generally refer, collectively, to Redwood Trust, Inc. and those of its subsidiaries that are generally not subject to subsidiary-level corporate income tax as “the REIT” or “our REIT.” We generally refer to subsidiaries of Redwood Trust, Inc. that are subject to subsidiary-level corporate income tax as “our taxable REIT subsidiaries” or “TRS.” </span></div>Redwood Trust, Inc. was incorporated in the State of Maryland on April 11, 1994, and commenced operations on August 19, 1994. References herein to “Redwood,” the “company,” “we,” “us,” and “our” include Redwood Trust, Inc. and its consolidated subsidiaries, unless the context otherwise requires.
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
3 segment
CY2022Q2 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned
DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoaned
429683000 usd
us-gaap Variable Interest Entity Ownership Percentage
VariableInterestEntityOwnershipPercentage
0.80
us-gaap Use Of Estimates
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<div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates </span></div><div style="margin-top:8pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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.</span></div>
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
7000000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
7000000 usd
CY2022Q2 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Collateral Right To Reclaim Securities
DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoanedCollateralRightToReclaimSecurities
428209000 usd
CY2022Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
5959000 usd
CY2022Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
10091000 usd
CY2022Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
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CY2022Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
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CY2022Q2 rwt Finite Lived Intangible Asset Expected Amortization Year Four And Thereafter
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1474000 usd
CY2022Q2 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Amount Offset Against Collateral
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CY2021Q4 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned
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CY2021Q4 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Collateral Right To Reclaim Securities
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574629000 usd
CY2021Q4 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Collateral Right To Reclaim Cash
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895000 usd
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CY2022Q2 rwt Market Valuation Adjustments Net
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CY2021Q2 rwt Market Valuation Adjustments Net
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rwt Market Valuation Adjustments Net
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rwt Market Valuation Adjustments Net
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213641000 usd
CY2022Q2 us-gaap Investments
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CY2022Q2 us-gaap Trading Securities
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CY2021Q4 us-gaap Trading Securities
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CY2022Q2 us-gaap Available For Sale Securities Debt Securities
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CY2021Q4 us-gaap Available For Sale Securities Debt Securities
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CY2022Q2 us-gaap Marketable Securities
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CY2021Q4 us-gaap Marketable Securities
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CY2022Q2 us-gaap Trading Securities
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CY2021Q4 us-gaap Trading Securities
TradingSecurities
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CY2021Q4 us-gaap Investment Owned Balance Principal Amount
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CY2021Q2 us-gaap Payments To Acquire Trading Securities Heldforinvestment
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us-gaap Payments To Acquire Trading Securities Heldforinvestment
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us-gaap Payments To Acquire Trading Securities Heldforinvestment
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17630000 usd
CY2022Q2 us-gaap Proceeds From Sale Of Trading Securities Heldforinvestment
ProceedsFromSaleOfTradingSecuritiesHeldforinvestment
12716000 usd
CY2021Q2 us-gaap Proceeds From Sale Of Trading Securities Heldforinvestment
ProceedsFromSaleOfTradingSecuritiesHeldforinvestment
18068000 usd
us-gaap Proceeds From Sale Of Trading Securities Heldforinvestment
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12716000 usd
us-gaap Proceeds From Sale Of Trading Securities Heldforinvestment
ProceedsFromSaleOfTradingSecuritiesHeldforinvestment
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CY2021Q2 us-gaap Increase Decrease In Trading Securities
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1798000 usd
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CY2022Q2 rwt Securities Bought And Sold During The Same Quarter
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rwt Securities Bought And Sold During The Same Quarter
SecuritiesBoughtAndSoldDuringTheSameQuarter
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rwt Securities Bought And Sold During The Same Quarter
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CY2022Q2 us-gaap Available For Sale Securities Debt Securities
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150498000 usd
CY2021Q4 us-gaap Available For Sale Securities Debt Securities
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206792000 usd
CY2022Q2 us-gaap Payments To Acquire Available For Sale Securities Debt
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CY2021Q2 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
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us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
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us-gaap Payments To Acquire Available For Sale Securities Debt
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CY2022Q2 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
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CY2021Q2 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
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2585000 usd
us-gaap Proceeds From Sale Of Available For Sale Securities Debt
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us-gaap Proceeds From Sale Of Available For Sale Securities Debt
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CY2022Q2 rwt Debt Securities Available For Sale Principal Balance Of Securities Called
DebtSecuritiesAvailableForSalePrincipalBalanceOfSecuritiesCalled
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CY2021Q2 rwt Debt Securities Available For Sale Principal Balance Of Securities Called
DebtSecuritiesAvailableForSalePrincipalBalanceOfSecuritiesCalled
1307000 usd
rwt Debt Securities Available For Sale Principal Balance Of Securities Called
DebtSecuritiesAvailableForSalePrincipalBalanceOfSecuritiesCalled
14486000 usd
rwt Debt Securities Available For Sale Principal Balance Of Securities Called
DebtSecuritiesAvailableForSalePrincipalBalanceOfSecuritiesCalled
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CY2022Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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CY2021Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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22210000 usd
CY2022Q2 rwt Debt Securities Available For Sale Principal Balance
DebtSecuritiesAvailableForSalePrincipalBalance
227911000 usd
CY2022Q2 rwt Debt Securities Available For Sale Credit Reserve
DebtSecuritiesAvailableForSaleCreditReserve
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CY2022Q2 rwt Debt Securities Available For Sale Unamortized Discounts Premiums
DebtSecuritiesAvailableForSaleUnamortizedDiscountsPremiums
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CY2022Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
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135989000 usd
CY2022Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
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25930000 usd
CY2022Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
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CY2022Q2 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
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CY2022Q2 us-gaap Available For Sale Securities Debt Securities
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150498000 usd
CY2021Q4 rwt Debt Securities Available For Sale Principal Balance
DebtSecuritiesAvailableForSalePrincipalBalance
242852000 usd
CY2021Q4 rwt Debt Securities Available For Sale Credit Reserve
DebtSecuritiesAvailableForSaleCreditReserve
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CY2021Q4 rwt Debt Securities Available For Sale Unamortized Discounts Premiums
DebtSecuritiesAvailableForSaleUnamortizedDiscountsPremiums
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CY2021Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
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CY2021Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
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67815000 usd
CY2021Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
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297000 usd
CY2021Q4 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
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CY2021Q4 us-gaap Available For Sale Securities Debt Securities
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206792000 usd
CY2022Q2 rwt Number Of Available For Sale Securities
NumberOfAvailableForSaleSecurities
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CY2022Q2 us-gaap Debt Securities Available For Sale Unrealized Loss Position Number Of Positions
DebtSecuritiesAvailableForSaleUnrealizedLossPositionNumberOfPositions
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CY2021Q4 rwt Number Of Available For Sale Securities
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CY2021Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Number Of Positions
DebtSecuritiesAvailableForSaleUnrealizedLossPositionNumberOfPositions
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CY2021Q4 rwt Number Of Securities Continuous Unrealized Loss Position More Than Twelve Months
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CY2022Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
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CY2022Q2 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
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CY2022Q1 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
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CY2021Q4 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
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CY2022Q2 us-gaap Debt Securities Available For Sale Allowance For Credit Loss Not Previously Recorded
DebtSecuritiesAvailableForSaleAllowanceForCreditLossNotPreviouslyRecorded
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us-gaap Debt Securities Available For Sale Allowance For Credit Loss Not Previously Recorded
DebtSecuritiesAvailableForSaleAllowanceForCreditLossNotPreviouslyRecorded
1490000 usd
CY2022Q2 us-gaap Debt Securities Available For Sale Allowance For Credit Loss Not To Sell Before Recovery Credit Loss Previously Recorded Expense Reversal
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281000 usd
us-gaap Debt Securities Available For Sale Allowance For Credit Loss Not To Sell Before Recovery Credit Loss Previously Recorded Expense Reversal
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CY2022Q2 us-gaap Debt Securities Available For Sale Allowance For Credit Loss Purchased With Credit Deterioration Increase
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us-gaap Debt Securities Available For Sale Allowance For Credit Loss Purchased With Credit Deterioration Increase
DebtSecuritiesAvailableForSaleAllowanceForCreditLossPurchasedWithCreditDeteriorationIncrease
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CY2022Q2 us-gaap Debt Securities Available For Sale Allowance For Credit Loss Securities Sold
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us-gaap Debt Securities Available For Sale Allowance For Credit Loss Securities Sold
DebtSecuritiesAvailableForSaleAllowanceForCreditLossSecuritiesSold
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CY2022Q2 us-gaap Debt Securities Available For Sale Allowance For Credit Loss Sell Before Recovery
DebtSecuritiesAvailableForSaleAllowanceForCreditLossSellBeforeRecovery
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us-gaap Debt Securities Available For Sale Allowance For Credit Loss Sell Before Recovery
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CY2022Q2 us-gaap Debt Securities Available For Sale Allowance For Credit Loss Writeoff
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us-gaap Debt Securities Available For Sale Allowance For Credit Loss Writeoff
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CY2022Q2 us-gaap Debt Securities Available For Sale Allowance For Credit Loss Recovery
DebtSecuritiesAvailableForSaleAllowanceForCreditLossRecovery
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us-gaap Debt Securities Available For Sale Allowance For Credit Loss Recovery
DebtSecuritiesAvailableForSaleAllowanceForCreditLossRecovery
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CY2022Q2 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
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CY2022Q2 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
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CY2022Q2 rwt Availableforsale Securities Gross Realized Gain Loss On Sales And Calls
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CY2021Q2 rwt Availableforsale Securities Gross Realized Gain Loss On Sales And Calls
AvailableforsaleSecuritiesGrossRealizedGainLossOnSalesAndCalls
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rwt Availableforsale Securities Gross Realized Gain Loss On Sales And Calls
AvailableforsaleSecuritiesGrossRealizedGainLossOnSalesAndCalls
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rwt Availableforsale Securities Gross Realized Gain Loss On Sales And Calls
AvailableforsaleSecuritiesGrossRealizedGainLossOnSalesAndCalls
10602000 usd
us-gaap Debt Securities Realized Gain Loss
DebtSecuritiesRealizedGainLoss
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CY2022Q2 rwt Guarantee Obligation Credit Reserve
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rwt Number Of Partnerships Consolidated
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CY2022Q2 us-gaap Servicing Asset At Fair Value Amount
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239552000 usd
CY2021Q4 us-gaap Servicing Asset At Fair Value Amount
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CY2022Q2 us-gaap Derivative Fair Value Of Derivative Net
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CY2022Q2 us-gaap Derivative Notional Amount
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CY2022Q2 us-gaap Deferred Income Tax Assets Net
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CY2022Q2 us-gaap Real Estate Acquired Through Foreclosure
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CY2022Q2 us-gaap Other Assets
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CY2022Q2 us-gaap Property Plant And Equipment Gross
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CY2022Q2 rwt Margin Payable
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CY2021Q4 rwt Margin Payable
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CY2022Q2 rwt Bridge Loan Holdback
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CY2021Q4 rwt Bridge Loan Holdback
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CY2021Q4 rwt Other Liabilities Miscellaneous
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CY2022Q2 us-gaap Accrued Liabilities Current And Noncurrent
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us-gaap Real Estate Acquisitions Through Foreclosures
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us-gaap Real Estate Cost Of Real Estate Sold
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us-gaap Principal Investment Gains Losses
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us-gaap Shortterm Debt Average Outstanding Amount
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CY2021Q4 us-gaap Long Term Debt
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CY2022Q2 us-gaap Short Term Borrowings
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us-gaap Operating Lease Cost
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us-gaap Operating Lease Cost
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CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
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CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
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CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
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rwt Mortgage Loans On Real Estate Repurchase Requests
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CY2021Q2 rwt Mortgage Loans On Real Estate Repurchase Provision
MortgageLoansOnRealEstateRepurchaseProvision
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rwt Mortgage Loans On Real Estate Repurchase Provision
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CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2021Q2 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
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us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
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us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
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CY2022Q2 rwt Interest And Gain Loss On Extinguishment Of Convertible Debt Net Of Tax
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CY2021Q2 rwt Interest And Gain Loss On Extinguishment Of Convertible Debt Net Of Tax
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rwt Interest And Gain Loss On Extinguishment Of Convertible Debt Net Of Tax
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rwt Interest And Gain Loss On Extinguishment Of Convertible Debt Net Of Tax
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CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
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CY2021Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
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CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2022Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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CY2021Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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CY2022Q2 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
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CY2021Q2 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
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us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
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CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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EmployeeStockPurchasePlanNumberOfSharesAuthorized
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CY2021Q2 rwt Mortgage Banking Activities Net
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rwt Mortgage Banking Activities Net
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rwt Mortgage Banking Activities Net
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CY2022Q2 rwt Fee Income Risk Sharing Agreement
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CY2021Q2 rwt Fee Income Risk Sharing Agreement
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CY2021Q2 rwt Mortgage Servicing Rights Income Loss Net
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rwt Mortgage Servicing Rights Income Loss Net
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rwt Mortgage Servicing Rights Income Loss Net
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CY2021Q2 us-gaap Interest And Fee Income Loans And Leases
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us-gaap Interest And Fee Income Loans And Leases
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us-gaap Interest And Fee Income Loans And Leases
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rwt Fee Income Risk Sharing Agreement
FeeIncomeRiskSharingAgreement
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rwt Fee Income Risk Sharing Agreement
FeeIncomeRiskSharingAgreement
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CY2021Q2 us-gaap Other Nonoperating Income Expense
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CY2021Q2 rwt Fixed Compensation Expense
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FixedCompensationExpense
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rwt Fixed Compensation Expense
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VariableCompensationExpense
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CY2021Q2 rwt Variable Compensation Expense
VariableCompensationExpense
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VariableCompensationExpense
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CY2022Q2 us-gaap Allocated Share Based Compensation Expense
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CY2021Q2 us-gaap Allocated Share Based Compensation Expense
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us-gaap Allocated Share Based Compensation Expense
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us-gaap Allocated Share Based Compensation Expense
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CY2022Q2 rwt Acquisition Related Sharebased Payment Arrangement Expense
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CY2021Q2 rwt Acquisition Related Sharebased Payment Arrangement Expense
AcquisitionRelatedSharebasedPaymentArrangementExpense
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rwt Acquisition Related Sharebased Payment Arrangement Expense
AcquisitionRelatedSharebasedPaymentArrangementExpense
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rwt Acquisition Related Sharebased Payment Arrangement Expense
AcquisitionRelatedSharebasedPaymentArrangementExpense
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CY2021Q2 us-gaap Communications And Information Technology
CommunicationsAndInformationTechnology
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us-gaap Communications And Information Technology
CommunicationsAndInformationTechnology
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us-gaap Communications And Information Technology
CommunicationsAndInformationTechnology
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CY2022Q2 rwt Office Costs
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CY2021Q2 rwt Office Costs
OfficeCosts
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rwt Office Costs
OfficeCosts
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rwt Office Costs
OfficeCosts
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CY2022Q2 us-gaap Professional Fees
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CY2021Q2 us-gaap Professional Fees
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us-gaap Professional Fees
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us-gaap Professional Fees
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CY2021Q2 us-gaap Other General And Administrative Expense
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CY2022Q2 rwt Commissions On Loan Acquisitions
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CY2021Q2 rwt Commissions On Loan Acquisitions
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rwt Commissions On Loan Acquisitions
CommissionsOnLoanAcquisitions
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rwt Commissions On Loan Acquisitions
CommissionsOnLoanAcquisitions
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CY2022Q2 rwt Underwriting Costs Associated With Loan Acquisitions
UnderwritingCostsAssociatedWithLoanAcquisitions
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CY2021Q2 rwt Underwriting Costs Associated With Loan Acquisitions
UnderwritingCostsAssociatedWithLoanAcquisitions
1836000 usd
rwt Underwriting Costs Associated With Loan Acquisitions
UnderwritingCostsAssociatedWithLoanAcquisitions
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rwt Underwriting Costs Associated With Loan Acquisitions
UnderwritingCostsAssociatedWithLoanAcquisitions
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CY2022Q2 rwt Transfer And Hold Costs Associated With Loan Acquisitions
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CY2021Q2 rwt Transfer And Hold Costs Associated With Loan Acquisitions
TransferAndHoldCostsAssociatedWithLoanAcquisitions
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rwt Transfer And Hold Costs Associated With Loan Acquisitions
TransferAndHoldCostsAssociatedWithLoanAcquisitions
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rwt Transfer And Hold Costs Associated With Loan Acquisitions
TransferAndHoldCostsAssociatedWithLoanAcquisitions
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CY2022Q2 rwt Loan Acquisition Costs
LoanAcquisitionCosts
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CY2021Q2 rwt Loan Acquisition Costs
LoanAcquisitionCosts
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rwt Loan Acquisition Costs
LoanAcquisitionCosts
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rwt Loan Acquisition Costs
LoanAcquisitionCosts
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CY2022Q2 rwt Amortizationof Purchase Related Intangible Assets
AmortizationofPurchaseRelatedIntangibleAssets
3306000 usd
CY2021Q2 rwt Amortizationof Purchase Related Intangible Assets
AmortizationofPurchaseRelatedIntangibleAssets
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rwt Amortizationof Purchase Related Intangible Assets
AmortizationofPurchaseRelatedIntangibleAssets
6840000 usd
rwt Amortizationof Purchase Related Intangible Assets
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CY2022Q2 us-gaap Operating Costs And Expenses
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CY2021Q2 us-gaap Operating Costs And Expenses
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us-gaap Operating Costs And Expenses
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us-gaap Operating Costs And Expenses
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CY2022Q2 us-gaap Operating Expenses
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CY2021Q2 us-gaap Operating Expenses
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us-gaap Operating Expenses
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us-gaap Effective Income Tax Rate Continuing Operations
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CY2022Q2 us-gaap Income Tax Expense Benefit
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us-gaap Interest And Dividend Income Operating
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InterestExpense
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CY2021Q2 us-gaap Interest Expense
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CY2021Q2 rwt Mortgage Banking Activities Net
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CY2021Q2 us-gaap Unrealized Gain Loss On Investments
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CY2021Q2 us-gaap Realized Investment Gains Losses
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CY2021Q2 us-gaap Noninterest Income
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CY2021Q2 us-gaap General And Administrative Expense
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40594000 usd
CY2021Q2 rwt Loan Acquisition Costs
LoanAcquisitionCosts
3748000 usd
CY2021Q2 us-gaap Other Expenses
OtherExpenses
3985000 usd
CY2021Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
6687000 usd
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
90025000 usd
CY2021Q2 us-gaap Adjustment For Amortization
AdjustmentForAmortization
-6015000 usd
us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
267000000 usd
us-gaap Interest Expense
InterestExpense
210617000 usd
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
56383000 usd
rwt Mortgage Banking Activities Net
MortgageBankingActivitiesNet
137026000 usd
us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
94567000 usd
us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
5969000 usd
us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
11100000 usd
us-gaap Noninterest Income
NoninterestIncome
248662000 usd
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
84145000 usd
rwt Loan Acquisition Costs
LoanAcquisitionCosts
7307000 usd
us-gaap Other Expenses
OtherExpenses
8081000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
18230000 usd
us-gaap Net Income Loss
NetIncomeLoss
187282000 usd
us-gaap Adjustment For Amortization
AdjustmentForAmortization
-12245000 usd
CY2022Q2 us-gaap Marketable Securities
MarketableSecurities
284278000 usd
CY2022Q2 us-gaap Other Investments
OtherInvestments
679667000 usd
CY2022Q2 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
34720000 usd
CY2022Q2 us-gaap Assets
Assets
13875536000 usd
CY2021Q4 us-gaap Marketable Securities
MarketableSecurities
377411000 usd
CY2021Q4 us-gaap Other Investments
OtherInvestments
641969000 usd
CY2021Q4 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
41561000 usd
CY2021Q4 us-gaap Assets
Assets
14706944000 usd

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