PennyMac Mortgage Investment Trust PMT Cash Flow

Pennymac mortgage investment trust (PMT)

CashFlow / TTM

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11
Cash flows from operating activities
Net gain on mortgage loans at fair value
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0
Net (loss) income
-421	226	209	185	178	152	152	124	117	117	108	124	90	75	60	63	97	90	100	117	164	194	220	205	184	200	196	197	172	138	108	88	75	64	0	0	0
Adjustments to reconcile net income to net cash provided by operating activities:
Reversal of costs related to forward purchase agreements
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	0	-	-	-	-	3	0	0	0	-	-	-	-
Net loss (gain) on investments
-646	263	275	239	177	81	73	77	79	96	70	70	27	7	-2	8	46	53	66	112	158	201	236	215	192	210	0	0	0	-	-	-	-	-	-	-	-
Amortization of credit facility commitment fees
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	0	0	0
Change in fair value of mortgage servicing rights net of hedging results
147	383	370	300	195	94	55	69	71	103	105	101	92	78	69	55	52	53	44	49	46	42	35	33	28	22	21	18	15	11	7	3	0	0	0	0	0
Amortization of credit facility commitment fees and debt issuance costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	10	9	10	9	0	0	0	-	-	-	-	-	-	-	-
Net gain on loans acquired for sale at fair value
197	170	122	97	72	59	61	54	63	74	77	103	110	106	98	68	55	51	41	36	35	35	43	45	79	98	151	189	163	147	88	38	20	7	0	0	0
Accrual of interest on excess servicing spread purchased from PennyMac Financial Services, Inc.
9	10	11	13	14	15	15	15	16	16	18	18	20	22	25	28	28	25	21	16	14	13	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Capitalization of interest and fees on loans at fair value
1	2	3	5	6	7	9	14	23	30	49	65	71	84	85	77	70	57	61	56	64	66	59	62	50	43	0	0	0	-	-	-	-	-	-	-	-
Net gain on mortgage-backed securities at fair value
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0
Accrual of unearned discounts and amortization of purchase premiums on mortgage-backed securities, loans at fair value, and asset-backed financing of a VIE
-22	-13	-16	-16	-10	-5	-3	-4	-4	-5	-4	-5	-9	-1	-1	1	6	0	1	1	1	1	0	0	0	-	-	-	-	0	16	13	10	1	0	0	0
Amortization of debt issuance costs and (premiums), net
8	0	-9	-13	-14	-9	0	6	10	13	13	13	13	13	12	12	12	11	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Results of real estate acquired in settlement of loans
2	0	-1	-2	-7	-8	-9	-12	-13	-14	-18	-18	-17	-19	-19	-20	-19	-19	-20	-28	-31	-32	-29	-20	-16	-13	0	0	0	-	-	6	3	1	0	0	0
Share-based compensation expense
4	5	5	5	6	5	5	4	4	4	5	5	6	5	5	5	4	6	6	6	6	5	5	5	5	5	5	5	5	5	4	4	3	3	0	0	0
Purchase of loans acquired for sale at fair value from nonaffiliates
123,697	108,251	88,353	73,280	66,620	64,671	62,188	63,283	64,879	65,830	70,581	72,223	70,437	66,112	55,801	51,064	48,206	46,423	43,543	36,856	31,704	28,381	26,788	26,599	28,207	32,013	36,456	34,828	29,430	22,439	12,992	6,614	3,157	1,318	0	0	0
Purchase of loans acquired for sale at fair value from PennyMac Financial Services, Inc.
7,617	6,255	5,101	4,134	3,446	3,343	2,867	2,291	1,663	904	381	53	38	21	27	25	24	28	16	16	16	8	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Repurchase of loans subject to representation and warranties
-29	-22	-18	-11	-12	-12	-10	-10	-10	-11	-10	-10	-11	-11	-42	-37	-29	-17	2	8	6	1	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Sale to nonaffiliates and repayment of loans acquired for sale at fair value
71,371	61,128	48,838	39,614	33,644	29,369	25,623	24,223	24,655	24,314	25,885	25,707	25,151	23,525	18,936	16,964	14,796	14,206	13,747	12,614	12,320	11,703	11,137	11,570	12,710	15,818	19,809	19,197	16,037	12,834	6,509	3,133	2,424	512	0	0	0
Sale of loans acquired for sale to PennyMac Financial Services, Inc.
57,659	50,110	42,002	36,657	35,714	37,967	38,484	40,647	41,819	42,624	45,621	46,505	45,214	42,051	35,768	34,757	33,354	31,490	29,361	22,868	18,291	16,431	15,631	14,917	15,695	16,113	0	0	0	-	-	-	-	-	-	-	-
Settlement of repurchase agreement derivatives
14	19	22	18	13	8	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Decrease in servicing advances
4	-18	-19	-30	-36	-20	-26	-26	-8	2	-8	3	-1	-4	8	9	15	30	42	33	40	40	36	57	35	35	0	0	0	-	-	-	-	-	-	-	-
Decrease (increase) in principal and interest collections receivable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0
(Increase) decrease in principal and interest collections receivable under forward purchase agreements
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-
Increase in interest receivable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0
(Increase) decrease in due from PennyMac Financial Services, Inc.
0	-1	2	-2	3	0	-2	-0	-10	-2	-6	-6	4	-1	2	2	0	1	4	5	2	0	3	0	-3	1	-1	-5	0	4	-5	1	0	-1	0	0	0
Decrease in other assets
-702	-102	-322	-104	-8	23	39	44	47	-8	103	77	55	62	-36	-27	19	36	-30	28	35	24	91	96	14	33	15	-34	8	12	36	38	38	33	0	0	0
(Decrease) increase in accounts payable and accrued liabilities
-25	3	26	-28	7	6	-3	-12	-14	-40	42	-0	9	46	-30	13	13	7	-1	47	-1	-6	3	-48	4	-14	4	17	12	32	24	12	1	-2	0	0	0
Increase (decrease) in due to PennyMac Financial Services, Inc.
26	14	12	14	2	6	11	1	6	10	1	-3	3	-2	-2	4	-0	-4	-7	-6	-5	2	2	3	7	7	0	0	0	-	-	-	-	-	-	-	-
Increase in payable to affiliates
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	0	0	0
Increase (decrease) in income taxes payable
-20	-34	-52	-25	-9	3	26	27	24	9	-16	-11	-17	-15	-6	-9	-10	-17	-23	-26	-18	-8	11	11	19	23	31	42	33	35	0	0	0	-	-	-	-
Net cash provided by operating activities
-1,424	-2,985	-2,103	-897	-551	-573	-861	-655	-49	223	453	-155	-186	-621	-1,128	618	-149	-863	-1,275	-1,460	-1,232	-366	572	-368	95	-242	-590	-993	-1,093	-820	-865	-509	-207	-283	0	0	0
Net cash provided by operating activities
-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net (increase) decrease in short-term investments
108	15	48	37	-41	56	21	-37	51	-103	-27	60	-27	80	1	-15	2	-98	-5	-72	-46	47	-43	31	46	53	42	40	-18	8	7	-6	10	30	0	0	0
Purchase of mortgage-backed securities at fair value
2,865	1,250	1,104	1,077	1,310	1,810	1,316	814	500	251	465	767	966	765	574	309	110	84	174	191	211	185	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Sale and repayment of mortgage-backed securities at fair value
0	-	-	-	0	-	-	-	132	127	119	210	218	206	184	73	60	64	0	0	0	-	-	-	-	-	-	-	-	189	186	54	60	67	0	0	0
Repurchase of loans at fair value
1	1	0	0	1	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayment of United States Treasury security
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-
Repayments of mortgage-backed securities at fair value
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	0	0	0
Purchase of mortgage loans at fair value
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	241	513	513	540	554	567	1,145	1,118	1,063	0	0	0	-	-	-	-	453	0	0	0
Sale and repayment of loans at fair value
139	131	338	374	354	622	634	700	731	582	542	429	792	712	580	590	267	279	281	348	405	598	601	524	453	262	235	220	196	169	163	152	141	122	0	0	0
Sales of mortgage loans at fair value
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Repayment of mortgage loans under forward purchase agreements at fair value
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	6	13	21	20	15	8	0	5	14	0	0	0	-	-	-	-
Purchase of excess servicing spread from PennyMac Financial Services, Inc.
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	271	284	209	121	95	218	212	159	139	0	0	0	-	-	-	-	-	-	-	-
Repayment of excess servicing spread by PennyMac Financial Services, Inc.
39	40	41	43	45	46	48	50	52	54	57	60	63	69	77	85	86	78	69	53	44	39	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Sale of excess servicing spread to PennyMac Financial Services, Inc.
-	-	-	-	-	-	-	-	-	-	-	-	-	59	59	59	59	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net settlement of derivative financial instruments
28	0	30	28	7	4	-1	-0	3	0	1	4	7	7	4	-0	-6	6	11	11	23	10	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Purchase of real estate acquired in settlement of loans
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3	0	0	0	-	-	-	-	-	-	-	-	1	0	0	0
Sale of real estate acquired in settlement of loans
74	74	76	66	83	99	110	128	136	166	195	200	233	234	246	248	239	240	234	235	218	184	147	134	120	120	120	124	131	126	121	99	76	63	0	0	0
Sale of real estate acquired in settlement of loans under forward purchase agreements
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	5	5	6	2	0	0	-0	3	9	0	0	0	-	-	-	-
Purchase of mortgage servicing rights
-	-	-	-	-	-	-	-	-	0	0	0	0	2	4	4	4	2	0	0	0	-	-	-	-	-	-	-	-	0	0	0	0	-	-	-	-
Sale of mortgage servicing rights
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	0	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Deposit of cash securing credit risk transfer arrangements
-	-	-	-	-	596	0	0	0	-	-	-	255	-	0	0	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Distribution from credit risk transfer agreements
337	221	151	130	128	125	111	92	80	65	52	47	34	24	16	9	4	1	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Increase in margin deposits
-187	89	142	-33	-2	24	8	29	-11	15	0	0	-1	-	-3	-27	-26	-8	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Sales of securities under agreements to repurchase
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,659	1,307	1,457	1,423	0	0	0
Repurchases of securities sold under agreements to repurchase
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,959	1,221	1,492	1,409	0	0	0
Net cash (used in) provided by investing activities
-1,484	-704	-1,112	-1,670	-1,021	-1,424	-416	142	412	681	441	8	142	193	248	373	195	11	-349	-131	-62	27	38	-866	-914	-1,028	-816	-26	-335	-111	-45	-133	88	-269	0	0	0
Cash flows from financing activities
Sale of assets under agreements to repurchase
157,567	137,742	120,588	99,274	90,431	85,574	80,172	77,408	77,660	77,985	80,207	81,144	77,396	70,684	60,216	54,725	51,447	50,133	44,434	38,769	34,803	31,873	33,737	32,552	31,759	33,455	36,657	38,524	30,352	21,848	10,171	180	119	234	0	0	0
Repurchase of assets sold under agreements to repurchase
155,397	135,870	118,626	97,689	89,661	83,978	78,981	77,126	77,751	78,587	81,045	80,921	77,141	70,030	59,040	54,950	51,764	49,733	43,985	37,968	33,128	31,183	33,300	31,432	31,486	32,671	0	0	0	-	-	-	-	-	-	-	-
Issuance of mortgage loan participation purchase and sale agreements
4,386	4,825	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayment of mortgage loan participation purchase and sale agreements
4,460	5,004	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
(Increase) decrease in margin deposits and restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	12	16	14	8	20	11	-5	0	0	0	0
Purchase of Federal Home Loan Bank capital stock
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	7	7	7	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Redemption of Federal Home Loan Bank capital stock
-	-	-	-	-	-	-	-	-	-	-	-	-	7	7	7	7	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Issuance of notes payable secured by credit risk transfer and mortgage servicing assets
1,363	1,308	933	933	745	450	0	0	0	-	-	-	-	129	0	0	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Issuance of mortgage loan participation certificates
-	-	-	-	-	-	-	-	6,609	-	7,097	7,073	6,572	6,579	6,351	5,735	5,561	5,009	7,859	6,686	5,261	4,246	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Repayment of mortgage loan participation certificates
-	-	-	-	-	-	-	-	6,682	-	7,142	7,131	6,561	6,553	6,324	5,709	5,570	5,029	7,798	6,616	5,189	4,226	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Repurchases of mortgage loans at fair value sold under agreements to repurchase
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-
Sales of mortgage loans acquired for sale at fair value under agreements to repurchase
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-
Repurchase of mortgage loans acquired for sale at fair value under agreements to repurchase
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0
Repayment of notes payable secured by credit risk transfer and mortgage servicing assets
135	56	0	0	0	-	-	-	-	-	-	-	-	90	0	0	0	-	-	-	0	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-
Federal Home Loan Bank advances
-	-	-	-	-	-	-	-	-	-	-	-	-	28	327	650	788	760	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayment of Federal Home Loan Bank advances
-	-	-	-	-	-	-	-	-	-	-	-	-	211	510	788	788	577	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Sales of real estate acquired in settlement of loans financed under agreement to repurchase
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-
Repurchases of real estate acquired in settlement of loans financed under agreement to repurchase
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-
Repayment of borrowings under forward purchase agreements
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	227	236	254	40	27	18	16	130	157	0	0	0	-	-	-	-
Issuance of asset-backed financing of a variable interest entity at fair value
-	-	-	-	-	-	-	-	-	-	-	-	-	182	207	209	210	110	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayment of asset-backed financing of a variable interest entity at fair value
49	42	30	25	22	21	25	33	41	51	62	72	79	73	63	44	28	24	18	16	11	8	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Sale of assets to PennyMac Financial Services, Inc. under agreements to repurchase
-	-	-	-	-	2	2	-17	2	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repurchase of assets sold to PennyMac Financial Services, Inc. under agreement to repurchase
52	50	25	19	17	15	17	-121	-165	5	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payment of debt issuance costs
13	15	9	11	14	13	15	14	12	13	12	12	11	11	10	11	13	10	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payment of contingent underwriting fees
0	0	0	0	0	0	0	0	0	-	-	-	-	-	-	-	-	0	1	2	2	2	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Payment of dividends to preferred shareholders
24	24	24	24	24	24	24	24	20	14	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payment of dividends to common shareholders
159	141	126	118	115	115	117	120	123	126	126	127	128	131	134	148	162	173	183	222	178	174	169	123	155	147	140	123	112	94	75	66	48	39	0	0	0
Issuance of preferred shares
-	-	-	-	-	-	-	-	-	310	310	115	115	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Issuance of common shares
695	839	622	366	149	0	0	0	0	-	-	-	-	-	-	-	-	0	8	8	9	90	0	0	0	-	-	-	-	608	617	257	56	206	0	0	0
Payment of issuance costs related to common shares
8	10	7	4	2	0	-10	-3	-3	0	10	3	3	0	0	0	0	-	-	-	-	1	1	13	13	12	12	0	0	1	1	1	1	8	0	0	0
Repurchase of common shares
5	0	0	0	0	10	83	99	99	91	23	17	36	98	93	99	80	16	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payment of vested share-based compensation withholdings
1	2	2	2	2	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in financing activities
3,939	3,733	3,241	2,582	1,538	1,980	1,266	505	-380	-861	-934	122	96	403	929	-1,011	-44	833	901	1,668	1,349	387	101	1,244	811	1,265	1,439	1,019	1,431	951	966	668	125	522	0	0	0
Net increase in cash
1,030	44	24	14	-33	-17	-10	-6	-17	43	-39	-25	53	-23	49	-18	1	-18	42	76	53	48	-53	10	-7	-6	32	-0	2	19	55	25	5	-30	0	0	0