Impac mortgage holdings inc (IMH)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10
CASH FLOWS FROM OPERATING ACTIVITIES:
Net (loss) earnings

-

-

-

46,670

80,799

-6,322

-

-

-

-

Net loss

-7,977

-145,410

-31,521

-

-

-

-8,048

-2,504

2,651

9,837

(Gain) loss on sale of mortgage servicing rights

860

-5,937

-93

-10,688

-8,046

1,113

77

-

-

-

Change in fair value of mortgage servicing rights

25,771

-3,757

37,904

24,388

10,939

6,229

-6,490

600

128

-118

Gain on sale of mortgage-backed securities

136

-

-

-

-

-

-

-

-

-

Losses (gains) from REO

-

-

-

-

-

-

-8,816

13,226

16,587

6,798

Loss on extinguishment of debt

-

-

-1,265

-

-

-

-

-423

-338

1,299

Gain on sale of AmeriHome

-

-

-

-

-

1,208

-

-

-

-

Gain on sale of mortgage loans

84,035

88,611

135,749

309,185

162,988

23,668

61,743

67,565

11,452

646

Change in fair value of mortgage loans held-for-sale

15,810

-14,762

-

-

-

-

-

-

-

-

Change in fair value of mortgage loans held-for-sale

-

-

8,367

-22

404

6,857

-2,895

3,709

2,702

58

Change in fair value of derivatives lending, net

4,472

-2,110

-6,055

1,807

6,916

-27

-1,797

3,234

559

-

Provision for repurchases

5,487

5,074

1,557

379

1,012

2,253

1,750

1,789

525

78

Origination of mortgage loans held-for-sale

4,548,750

3,839,640

-

-

-

-

-

-

-

-

Origination of mortgage loans held-for-sale

-

-

7,111,734

12,924,252

9,258,350

2,845,494

2,493,884

2,358,123

860,228

20,739

Sale and principal reduction on mortgage loans held-for-sale

4,217,562

4,103,790

7,019,442

13,026,911

9,252,839

2,736,431

2,520,551

2,356,367

814,117

17,979

Losses from trust REO

-6,434

-950

7,425

-5,934

-6,595

7,581

-

-

-

-

Change in fair value of net trust assets, excluding trust REO

-3,397

-1,599

-1,212

7,347

5,021

8,658

-6,250

15,803

77,010

120,282

Change in fair value of long-term debt

1,429

-3,978

2,949

14,436

8,661

4,014

687

-1,145

-

-

Change in fair value of long-term debt

-

-

-

-

-

-

-

-

-

689

Accretion of interest income and expense

27,272

33,435

86,189

126,598

148,121

180,478

215,653

260,470

322,831

396,714

Amortization of intangible and other assets

572

3,807

4,768

-

-

-

-

-

-

-

Change in REO impairment reserve

-

-

-

-

-

-

-4,906

23,538

27,055

12,462

Amortization of intangible and other assets

-

-

-

4,769

3,576

-

-

-

-

-

Accretion of contingent consideration

-

-

2,058

6,997

8,142

-

-

-

-

-

Change in fair value of contingent consideration

-

-

-13,326

30,145

-45,920

-

-

-

-

-

Amortization of debt issuance costs and discount on note payable

17

83

166

440

334

48

30

89

-

-

Stock-based compensation

660

947

2,548

2,131

1,613

1,921

1,971

449

334

509

Impairment of deferred charge

-

-

858

1,278

1,558

453

0

-

-

-

Impairment of goodwill

-

104,587

351

-

-

-

-

-

-

-

Impairment of intangible assets

-

18,347

-

-

-

-

-

-

-

-

Excess tax benefit from share based compensation

-

151

367

-

-

-

-

-

-

-

Impairment of deferred charge

-

-

-

-

-

-

-

-

1,170

-

Change in deferred tax assets, net

-

-4,315

-20,105

-

24,420

-

-

-

-

-

Gain on sale of Experience 1, Inc.

-

-

-

-

-

-

-

-

1,940

-

Net change in restricted cash

-

-

-

2,497

1,054

953

-1,763

-1,789

3,524

242

Net change in other assets

-8,400

12,195

-794

6,616

5,361

-

-

-

-

-

Net change in other liabilities

-12,444

-5,032

-17,805

15,394

8,863

-

-

-

-

-

Amortization of discount on note payable

-

-

-

-

-

-

-

-

1,299

-

Net cash used in operating activities of discontinued operations

-

-

-

-

-

-

-8,194

9,120

-3,113

-4,425

Net change in other assets and liabilities

-

-

-

-

-

19

-3,468

-5,812

-1,180

-662

Net cash (used in) provided by operating activities

-377,483

200,969

-137,980

65,476

30,664

29,981

174,469

174,513

173,577

271,617

CASH FLOWS FROM INVESTING ACTIVITIES:
Net change in securitized mortgage collateral

565,600

553,953

632,524

619,844

649,454

634,714

739,154

640,610

693,373

729,477

Proceeds from the sale of mortgage servicing rights

-

112,376

802

6,837

67,111

28,388

3,065

8,800

-

-

Purchase of mortgage servicing rights

-

-

5,618

-

-

-

-

-

-

-

Finance receivable advances to customers

-

401,357

909,719

928,238

664,550

76,317

-

-

-

-

Repayments of finance receivables

-

443,134

930,879

901,669

636,540

67,959

-

-

-

-

Net change in mortgages held-for-investment

-

-

11

46

46

7

-55

-

-

198

Purchase of premises and equipment

862

867

469

266

-109

18

-

-

-

-

Purchase of mortgage-backed securities

10,346

1,000

-

-

-

-

-

-

-

-

Proceeds from the sale of mortgage-backed securities

11,502

-

-

-

-

-

-

-

-

-

Sale of Experience 1, Inc.

-

-

-

-

-

-

-

-

512

-

Maturity (purchase) of short-term investments

-

-

-

-

-

-

-

-

-

-5,000

Purchase of premises and equipment

-

-

-

-

-

-

362

252

483

1,773

Net principal change on investment securities available-for-sale

-

-

-

47

90

76

72

182

181

185

Acquisition of CashCall Mortgage

-

-

-

-

7,500

-

-

-

-

365

Acquisition of noncontrolling interest

-

-

-

-

-

-

350

-

-

-

Proceeds from the sale of trust REO

23,804

21,493

29,082

41,962

33,087

36,288

45,703

94,455

144,899

208,585

Proceeds from the sale of AmeriHome

-

-

-

-

-

10,200

-

-

-

-

Net cash provided by investing activities of discontinued operations

-

-

-

-

-

-

-

-

-

2,374

Net cash provided by investing activities

589,698

727,732

677,492

641,901

714,387

701,297

787,227

743,795

838,482

943,681

CASH FLOWS FROM FINANCING ACTIVITIES:
Net proceeds from issuance of common stock

-

-

55,454

47,531

-

-

-

-

-

-

Issuance of convertible notes

-

-

-

-

25,000

-

20,000

-

-

-

Issuance of term financing

-

-

-

-

30,000

-

-

7,500

8,815

7,360

Repayment of MSR financing

8,000

137,133

25,000

-

-

-

-

-

-

-

Borrowings under MSR financing

8,000

102,000

60,133

-

-

-

-

-

-

-

Repayment of warehouse borrowings

3,746,311

3,877,663

6,743,048

12,318,880

8,825,747

2,611,066

-

-

-

-

Borrowings under warehouse agreements

4,163,737

3,586,437

6,897,838

12,413,837

8,924,645

2,718,150

-

-

-

-

Repayment of line of credit

-

-

-

-

11,000

28,250

13,500

24,500

3,850

-

Borrowings under line of credit

-

-

-

-

7,000

29,250

16,500

20,500

7,850

-

Repayment of short-term borrowing

-

-

-

-

15,000

-

2,364,679

2,214,920

793,409

13,709

Repayment of term financing

-

-

30,000

-

-

-

-

-

-

-

Payment of acquisition related contingent consideration

-

554

19,250

54,149

38,110

-

-

-

-

-

Short-term borrowing

-

-

-

-

15,000

-

2,376,709

2,263,798

848,043

16,787

Repayment of securitized mortgage borrowings

-623,028

-610,810

-742,421

-787,644

-828,195

-844,499

-995,200

-956,622

-1,071,736

-1,209,516

Principal payments on capital lease

81

-

-

-

-

-

-

-

-

-

Principal payments on short-term debt

-

-

-

-

-6,000

6,000

-

-

-

-

Principal payments on short-term debt

-

-

-

-

-

-

3,451

9,943

11,455

-

Principal payments on notes payable

-

-

-

-

-

-

-

-

-

-31,040

Contributions from noncontrolling interest

-

-

-

-

-

-

-

-

-

560

Principal payments on capital lease

-

202

324

503

781

736

769

272

286

-

Debt issuance costs

-

-

100

100

500

60

267

-

-

-

Tax payments on stock based compensation awards

59

145

355

-

-

-

-

-

-

-

Proceeds from exercise of stock options

345

458

593

218

973

37

175

1,241

14

30

Net cash used in financing activities

-205,272

-937,611

-546,480

-699,690

-722,715

-731,174

-964,482

-913,218

-1,016,014

-1,229,528

Net change in cash, cash equivalents and restricted cash

6,943

-8,910

-6,968

-

-

-

-

-

-

-

Net change in cash and cash equivalents

-

-

-

7,687

22,336

104

-2,786

5,090

-3,955

-14,230

SUPPLEMENTARY INFORMATION:
Interest paid

116,807

123,734

-

-

-

-

-

-

-

-

Interest paid

-

-

93,802

77,469

63,283

56,595

65,525

77,601

86,680

99,857

Taxes (paid) refunded, net

-345

591

-76

-

-

-

-

-

-

-

Taxes paid, net of refunds

-

-

-

339

1,229

725

209

20

33

149

NON-CASH TRANSACTIONS:
Transfer of securitized mortgage collateral to trust REO

27,186

22,421

18,800

39,706

40,471

33,377

38,224

50,151

98,118

149,959

Mortgage servicing rights retained from issuance of mortgage backed securities and loan sales

2,491

24,879

56,049

128,273

98,103

29,388

21,776

15,962

-

-

Recognition of operating lease right of use assets (net of $3.8 million of deferred rent)

20,538

-

-

-

-

-

-

-

-

-

Recognition of operating lease liabilities

24,291

-

-

-

-

-

-

-

-

-

Net effect of consolidation of net trust assets from adoption of accounting principle

-

-

-

-

-

-

-

-

-

119,631

Net effect of consolidation of net trust liabilities from adoption of accounting principle

-

-

-

-

-

-

-

-

-

-119,631

Acquisition of equipment purchased through capital leases

-

-

-

551

413

573

-

-

-

4,200

Acquisition related goodwill asset related to CashCall

-

-

-

-

104,586

-

-

-

-

-

Acquisition related intangible assets related to CashCall

-

-

-

-

33,122

-

-

-

-

-

Acquisition related contingent consideration liability related to CashCall

-

-

-

-

124,592

-

-

-

-

-

Common stock issued upon legal settlement

-

-

-

-

-

3,448

2,760

-

-

-

Common stock issued related to CashCall acquisition

-

-

-

-

6,150

-

-

-

-

-

Acquisition of equipment purchased through capital leases

-

-

-

-

-

-

1,171

514

635

-

Common stock issued upon issuance of deferred stock units

-

606

-

-

-

-

1,100

-

-

129

Common stock issued upon long-term debt exchange

-

-

7,033

-

-

-

-

-

-

-

Common stock issued upon conversion of debt

-

-

-

20,000

-

-

-

-

-

-

Increase in ownership of AmeriHome

-

-

-

-

-

-

911

677

-

-

Notes received upon disposition of Experience 1, Inc.

-

-

-

-

-

-

-

-

560

-

Fair value of liabilities assumed

-

-

-

-

-

-

-

-

-

-1,963

Noncontrolling interest

-

-

-

-

-

-

-

-

-

1,137

Cash paid for acquisition

-

-

-

-

-

-

-

-

-

1,100

Restricted stock units
Issuance of restricted stock and deferred stock units

125

-

-

-

-

-

-

-

-

-

Deferred stock units
Issuance of restricted stock and deferred stock units

-

1

-

-

-

-

-

-

-

-