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

-

-

-

-

-

-

-

-

-

30,325

44,505

50,316

46,670

40,438

43,249

47,808

80,799

67,853

47,344

30,616

-6,322

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Net loss

-7,977

-13,740

-60,624

-161,895

-145,410

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-8,048

-4,662

-1,781

1,375

-2,504

-1,348

3,665

-601

2,651

0

0

0

(Gain) loss on sale of mortgage servicing rights

860

0

0

0

-

-

-

319

-93

-168

-7,691

-10,482

-10,688

-12,463

-5,403

-5,192

-8,046

-6,468

-5,791

-2,345

1,113

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Change in fair value of mortgage servicing rights

25,771

26,498

22,189

11,911

-3,757

13,739

19,471

27,602

37,904

12,378

9,425

14,590

24,388

35,004

31,127

18,765

10,939

9,284

6,142

8,362

6,229

1,411

299

-4,312

-6,490

-3,242

-2,841

-360

600

1,103

469

-228

128

0

0

0

Losses (gains) from REO

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-11,687

-8,816

-5,767

-5,669

589

13,226

14,493

24,938

21,765

16,587

0

0

0

Loss on extinguishment of debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-423

0

0

0

-

-

-

-

Gain on sale of AmeriHome

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,208

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Gain on sale of mortgage loans

84,035

68,757

72,791

70,744

88,611

101,533

121,313

133,005

135,749

202,559

260,575

302,662

309,185

260,106

245,249

181,914

162,988

123,420

43,473

38,427

23,668

24,498

27,953

47,344

61,743

81,548

89,729

77,747

67,565

44,228

29,808

20,012

11,452

0

0

0

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

-

-

-

-6,402

-

-

-

-1,727

8,367

-11,332

-4,696

-6,004

-22

10,946

12,324

678

404

10,784

6,400

17,229

6,857

2,553

5,585

-2,221

-2,895

-3,684

-4,790

4,107

3,709

8,478

4,542

1,544

2,702

0

0

0

Change in fair value of derivatives lending, net

4,472

5,083

2,875

-904

-2,110

-8,647

-7,143

-7,949

-6,055

-10,644

-6,402

-3,290

1,807

12,779

7,994

4,224

6,916

8,558

7,688

8,179

-27

2,003

-3,758

-1,117

-1,797

0

0

0

-

-

0

0

-

-

-

-

Provision (recovery) for repurchases

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Provision for repurchases

5,487

3,257

6,640

6,326

5,074

0

0

0

-

-

-

-

379

1,450

543

520

1,012

991

3,059

2,865

2,253

1,957

1,282

1,618

1,750

2,005

2,188

1,887

1,789

1,354

886

701

525

0

0

0

Origination of mortgage loans held-for-sale

-

0

0

3,101,021

-

4,861,352

6,092,501

6,851,843

7,111,734

8,568,494

10,701,241

12,155,025

12,924,252

11,752,292

9,838,494

9,195,390

9,258,350

8,428,000

7,047,186

4,909,077

2,845,494

2,247,786

1,891,494

2,187,914

2,493,884

2,772,591

2,902,277

2,658,683

2,358,123

1,903,969

1,460,498

1,160,817

860,228

0

0

0

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

4,217,562

3,056,197

3,009,983

3,344,116

4,103,790

5,142,601

6,269,703

6,707,472

7,019,442

8,957,782

10,946,955

12,508,621

13,026,911

11,520,837

9,707,290

9,202,237

9,252,839

8,247,658

6,752,349

4,484,985

2,736,431

2,144,066

1,972,052

2,250,586

2,520,551

2,847,323

2,886,402

2,643,023

2,356,367

1,848,980

1,427,861

1,150,061

814,117

0

0

0

Losses from trust REO

-6,434

-4,752

-2,652

330

-950

-1,105

2,277

8,085

7,425

8,521

4,348

-3,261

-5,934

-7,667

-8,663

-5,065

-6,595

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

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

-3,397

-427

-2,118

-3,424

-1,599

-2,496

-6,309

-10,329

-1,212

-4,832

2,486

10,877

7,347

10,317

7,872

3,345

5,021

10,849

11,914

13,442

8,658

3,177

-708

-5,179

-6,250

-4,870

-6,291

2,713

15,803

29,349

54,919

65,227

77,010

0

0

0

Change in fair value of long-term debt

1,429

-4,239

-3,151

-3,019

-3,978

-405

-1,293

-772

2,949

0

0

0

-

-

-

-

8,661

12,251

12,251

10,480

4,014

658

584

1,288

687

180

64

-1,189

-1,145

0

0

0

-

-

-

-

Change in fair value of long-term debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

Accretion of interest income and expense

27,272

25,189

26,659

26,316

33,435

44,240

58,619

75,170

86,189

99,637

109,501

118,502

126,598

132,757

136,777

142,716

148,121

154,791

163,615

170,463

180,478

187,610

196,852

207,823

215,653

225,406

235,863

247,813

260,470

271,985

288,296

305,226

322,831

0

0

0

Amortization of intangible and other assets

572

952

1,708

2,757

3,807

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Change in REO impairment reserve

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-6,612

-9,145

-9,140

-4,906

-1,619

6,615

16,138

23,538

25,427

26,049

24,535

27,055

0

0

0

Amortization of intangible and other assets

-

-

-

-

-

-

-

-

-

4,768

4,768

4,769

4,769

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accretion of contingent consideration

-

-

-

-

-

-

-

-

2,058

3,701

4,896

5,947

6,997

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Change in fair value of contingent consideration

-

-

-

-

-

-

-

-

-13,326

-15,476

12,537

27,742

30,145

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of debt issuance costs and discount on note payable

17

35

53

70

83

83

83

87

166

187

282

329

440

484

479

465

334

265

161

116

48

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Stock-based compensation

660

656

661

624

947

1,386

2,168

2,478

2,548

2,456

2,220

2,183

2,131

2,184

1,990

1,817

1,613

1,620

1,624

1,775

1,921

2,003

1,965

1,956

1,971

1,593

1,131

787

449

313

320

325

334

0

0

0

Impairment of deferred charge

-

-

-

-

-

-

-

-

858

1,054

1,183

1,130

1,278

1,319

1,540

1,673

1,558

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Excess tax benefit from share based compensation

-

-

-

-

-

-

-

-

367

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Change in deferred tax assets, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

24,420

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net change in restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

2,497

4,099

4,440

-154

1,054

3,966

1,933

3,474

953

31

412

-1,334

-1,763

-769

-1,039

1,388

-1,789

-2,314

-2,002

-1,103

3,524

0

0

0

Net change in other assets

-8,400

381

11,223

5,119

12,195

-7,969

-1,221

5,087

-794

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net change in other liabilities

-12,444

-7,456

-10,879

-11,636

-5,032

-22,173

-8,729

-2,883

-17,805

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of discount on note payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

Net cash used in operating activities of discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-8,194

-7,987

467

4,197

9,120

9,074

703

-2,011

-3,113

0

0

0

Net change in other assets and liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

749

-

-14,229

-11,532

-10,635

19

5,869

-3,711

2,302

-3,468

-6,262

-1,212

-6,349

-5,812

-1,027

-1,661

-5,380

-1,180

0

0

0

Net cash (used in) provided by operating activities

-377,483

-663,100

63,884

181,254

200,969

221,713

124,785

-183,813

-137,980

337,422

183,925

294,012

65,476

-247,207

-180,802

13,484

30,664

-111,741

-146,147

-293,523

29,981

38,907

237,243

213,840

174,469

218,240

127,498

142,598

174,513

139,402

173,076

209,618

173,577

0

0

0

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

565,600

580,466

601,614

561,613

553,953

531,428

513,429

565,905

632,524

666,333

698,567

671,559

619,844

630,952

634,538

635,771

649,454

662,233

632,071

635,194

634,714

607,952

658,370

681,752

739,154

729,306

717,153

705,390

640,610

656,976

631,729

651,319

693,373

0

0

0

Proceeds from the sale of mortgage servicing rights

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

28,388

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from the sale of mortgage servicing rights

-

-

-

-

-

-

-

-

-

-

0

0

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Finance receivable advances to customers

-

-

-

-

401,357

596,855

825,416

891,774

909,719

969,574

976,836

960,447

928,238

814,430

713,051

691,748

664,550

561,450

394,534

198,375

76,317

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Repayments of finance receivables

-

-

-

-

443,134

657,036

846,917

902,341

930,879

987,315

974,508

965,070

901,669

777,111

710,976

702,909

636,540

524,450

344,195

145,883

67,959

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Net change in mortgages held-for-investment

-

-

-

-

-

-

-

-

-

-

-

-

46

45

45

47

46

47

49

48

7

11

-35

-54

-55

0

0

0

-

0

0

0

-

0

0

0

Purchase of premises and equipment

862

851

672

892

867

676

600

287

469

582

583

496

266

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchase of mortgage-backed securities

10,346

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchase of premises and equipment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-160

9

322

362

648

556

281

252

15

169

165

483

0

0

0

Net principal change on investment securities available-for-sale

-

-

-

-

-

-

-

-

-

-

-

-

47

54

79

61

90

95

88

106

76

79

72

49

72

72

111

147

182

187

188

194

181

0

0

0

Acquisition of CashCall Mortgage

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

7,500

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from the sale of trust REO

23,804

20,786

20,893

21,662

21,493

20,915

24,365

27,641

29,082

33,846

34,946

38,592

41,962

41,152

41,342

37,143

33,087

32,832

32,506

33,450

36,288

33,037

34,824

41,595

45,703

54,667

72,566

80,811

94,455

107,754

111,031

121,926

144,899

0

0

0

Proceeds from the sale of AmeriHome

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

10,200

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by investing activities

589,698

703,683

766,112

715,401

727,732

611,354

558,695

598,540

677,492

714,212

726,942

722,253

641,901

681,438

720,462

734,657

714,387

676,102

643,406

647,480

701,297

675,759

717,212

740,870

787,227

794,857

801,157

794,865

743,795

764,969

743,290

773,786

838,482

0

0

0

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

-

-

-

-

-

-

-

-

-

-

-

-

47,531

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Issuance of term financing

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

7,500

0

0

0

-

-

-

-

Repayment of MSR financing

-

-

-

-

137,133

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Borrowings under MSR financing

-

-

-

-

102,000

87,000

92,000

60,000

60,133

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayment of warehouse borrowings

3,746,311

2,774,323

2,655,715

3,079,202

3,877,663

4,975,413

6,024,732

6,448,830

6,743,048

8,394,017

10,348,608

11,823,667

12,318,880

10,930,478

9,185,196

8,798,383

8,825,747

7,934,157

6,540,036

4,274,083

2,611,066

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Borrowings under warehouse agreements

4,163,737

3,430,766

2,536,141

2,833,623

3,586,437

4,698,982

5,894,709

6,657,340

6,897,838

8,105,489

10,261,801

11,641,371

12,413,837

11,332,916

9,462,051

8,870,018

8,924,645

8,190,460

6,851,331

4,734,842

2,718,150

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Repayment of line of credit

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

11,000

16,000

28,750

29,250

28,250

31,250

18,500

18,500

13,500

15,250

21,750

20,000

24,500

0

0

0

-

-

-

-

Borrowings under line of credit

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

7,000

16,000

24,750

29,250

29,250

31,250

22,500

19,500

16,500

11,250

17,750

23,000

20,500

0

0

0

-

-

-

-

Repayment of short-term borrowing

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

15,000

0

0

0

-

-

-

-

2,364,679

2,633,519

2,682,684

2,471,450

2,214,920

1,783,032

1,381,327

1,117,962

793,409

0

0

0

Repayment of term financing

-

-

-

-

-

-

-

-

30,000

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payment of acquisition related contingent consideration

-

-

-

-

554

3,652

8,360

11,846

19,250

42,305

52,493

57,963

54,149

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Short-term borrowing

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

15,000

0

0

0

-

-

-

-

2,376,709

2,616,229

2,761,356

2,542,964

2,263,798

1,867,774

1,433,981

1,139,111

848,043

0

0

0

Repayment of securitized mortgage borrowings

-623,028

-631,691

-653,108

-611,638

-610,810

-597,685

-595,687

-666,970

-742,421

-794,545

-839,055

-825,103

-787,644

-802,080

-809,510

-813,343

-828,195

-845,296

-821,487

-831,493

-844,499

-823,270

-886,603

-928,501

-995,200

-999,990

-1,007,665

-1,005,376

-956,622

-988,559

-971,014

-1,004,829

-1,071,736

0

0

0

Principal payments on capital lease

81

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Principal payments on short-term debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

3,451

4,687

5,687

4,882

9,943

0

0

0

-

-

-

-

Principal payments on notes payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Principal payments on capital lease

-

-

-

-

202

229

256

282

324

359

402

451

503

558

655

737

781

800

767

745

736

774

857

823

769

580

361

315

272

0

0

0

-

-

-

-

Debt issuance costs

-

-

-

-

-

-

-

-

100

0

0

0

-

-

-

-

500

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Tax payments on stock based compensation awards

59

61

71

181

145

157

365

337

355

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from exercise of stock options

345

370

302

605

458

456

616

579

593

0

0

0

-

-

-

-

973

647

291

90

37

57

64

57

175

1,326

1,368

1,368

1,241

0

0

0

-

-

-

-

Net cash used in financing activities

-205,272

-37,068

-834,627

-901,984

-937,611

-840,830

-682,208

-405,025

-546,480

-1,075,087

-900,280

-1,015,201

-699,690

-385,838

-554,076

-735,324

-722,715

-567,129

-485,133

-367,343

-731,174

-717,072

-949,535

-945,819

-964,482

-1,005,488

-917,932

-934,691

-913,218

-905,029

-918,939

-983,805

-1,016,014

0

0

0

Net change in cash, cash equivalents and restricted cash

6,943

3,515

-4,631

-5,329

-8,910

-7,763

1,272

9,702

-6,968

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net change in cash and cash equivalents

-

-

-

-

-

-

-

-

-

-

-

-

7,687

48,393

-14,416

12,817

22,336

-2,768

12,126

-13,386

104

-2,406

4,920

8,891

-2,786

7,609

10,723

2,772

5,090

-658

-2,573

-401

-3,955

0

0

0

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

27,186

26,711

24,954

23,411

22,421

20,522

19,260

21,368

18,800

22,354

27,810

31,440

39,706

42,883

43,673

41,275

40,471

40,174

35,657

34,081

33,377

35,172

32,991

35,316

38,224

37,417

39,707

40,082

50,151

61,995

76,147

94,385

98,118

0

0

0

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

2,491

4,628

10,122

15,980

24,879

35,794

47,932

54,465

56,049

79,192

102,227

121,517

128,273

113,793

96,288

94,554

98,103

88,269

73,797

47,996

29,388

21,845

18,826

20,676

21,776

0

0

0

-

-

-

-

-

-

-

-

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

20,538

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Recognition of operating lease liabilities

24,291

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Acquisition related goodwill asset related to CashCall

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

104,586

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Acquisition related intangible assets related to CashCall

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

33,122

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Acquisition related contingent consideration liability related to CashCall

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

124,592

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Common stock issued upon legal settlement

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,448

4,074

2,573

2,672

2,760

0

0

0

-

-

-

-

-

-

-

-

Common stock issued related to CashCall acquisition

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

6,150

6,150

6,150

6,150

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Acquisition of equipment purchased through capital leases

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

514

0

0

0

-

-

-

-

Common stock issued upon conversion of debt

-

-

-

-

-

-

-

-

-

-

-

-

20,000

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Increase in ownership of AmeriHome

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

911

0

0

0

-

-

-

-

-

-

-

-