REDWOOD TRUST, INC. RWT Cash Flow

Redwood trust, inc. (RWT)

CashFlow / Quarterly

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	Dec'10	Sep'10	Jun'10	Mar'10
Cash Flows From Operating Activities:
Net Income (Loss) Attributable to Parent
-943,398	49,143	34,310	31,266	54,464	-913	40,921	32,747	46,845	30,933	36,180	36,324	36,969	25,355	52,553	41,281	12,063	41,059	19,164	27,064	14,801	27,122	45,097	16,017	12,333	25,134	21,929	65,573	60,610	42,078	39,701	19,527	30,463	-2,558	1,297	9,439	18,165	14,709	19,899	28,601	46,843
Adjustments to reconcile net income to net cash used in operating activities:
Amortization of premiums, discounts, and securities issuance costs, net
596	1,580	3,630	-833	689	2,596	3,128	4,024	3,939	4,004	4,608	4,615	5,023	6,236	6,306	6,377	7,568	7,845	7,934	9,134	9,176	7,885	8,727	8,363	9,158	8,105	6,280	5,743	6,037	-5,242	5,092	6,331	6,622	7,233	7,156	7,942	9,520	10,250	9,099	8,189	8,220
Depreciation and amortization of non-financial assets
4,677	4,460	4,977	353	343	386	340	283	299	304	304	299	306	291	274	298	277	314	195	172	143	144	137	126	106	78	86	77	147	146	115	668	944	945	253	258	257	261	185	199	240
Originations of held-for-sale loans
280,076	445,523	39,468	55,956	28,968	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchases of held-for-sale loans
2,665,447	1,821,038	1,467,623	1,544,909	989,977	1,565,805	1,823,832	1,952,492	1,820,002	1,945,732	1,450,254	1,206,809	1,103,047	1,136,174	1,238,853	1,333,524	1,245,068	2,250,874	3,138,103	3,098,411	2,558,425	3,073,540	3,725,946	1,936,969	1,181,488	901,282	1,407,363	2,717,241	2,740,317	812,916	524,043	338,898	660,008	-	-	-	-	-	-	-	-
Proceeds from sales of held-for-sale loans
2,733,285	2,226,278	848,017	1,272,463	851,331	1,286,102	1,130,703	1,384,702	1,581,806	823,270	1,048,551	683,751	1,347,575	1,262,030	772,040	821,984	1,336,617	2,019,986	2,374,319	2,911,253	2,455,452	2,797,348	2,989,878	1,553,643	785,380	1,150,706	1,909,021	2,075,516	2,269,845	644,655	297,603	365,415	388,760	-	-	-	-	-	-	-	-
Principal payments on held-for-sale loans
19,778	29,083	27,206	32,444	17,450	15,039	21,197	14,324	16,332	14,456	16,407	9,092	13,001	24,339	20,045	12,131	23,518	33,347	17,670	14,888	14,394	10,585	7,548	5,086	7,014	9,563	4,298	1,752	3,417	2,466	3,336	3,378	724	-	-	-	-	-	-	-	-
Net settlements of derivatives
-163,442	-33,157	-7,151	-16,446	-9,305	14,394	-3,705	21,130	19,296	620	-11,346	-9,462	10,238	6,613	-4,487	-8,273	-1,154	-12,404	-10,380	-17,249	-19,373	-10,444	-7,903	-6,479	-8,394	-10,247	45,910	8,281	1,503	-	-	-	-	-	-	-	-	-	-	-	-
Reversal of provision for loan losses
-	-	-	-	-	-	-	-	-	-	-	-	-	0	-859	-6,532	289	-240	-60	-261	206	1,590	-1,596	-317	1,284	4,244	1,726	-3,272	2,039	3,394	1,319	-1,339	274	7,784	3,978	1,582	2,807	7,902	2,436	4,322	9,475
Non-cash equity award compensation expense
3,188	4,405	3,297	4,165	3,090	2,953	3,150	3,959	3,674	2,581	2,420	3,135	2,242	2,053	2,107	2,706	5,782	2,804	2,809	3,501	2,692	2,337	2,253	2,809	3,872	2,104	1,928	3,313	6,202	2,473	2,152	2,961	2,256	2,344	1,958	2,732	2,074	1,765	1,549	2,122	6,086
Goodwill, Impairment Loss
88,675	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Market valuation adjustments
-912,477	34,286	14,548	16,733	31,439	-29,597	19,530	8,536	25,600	1,132	19,609	15,614	15,129	-3,679	16,346	-9,736	-15,848	-11,429	-19,068	-2,043	-19,435	-2,085	15,116	-3,883	-9,446	21,276	-8,135	46,699	37,861	19,465	8,470	-9,258	-3,701	-9,682	-13,448	-11,147	-5,740	381	-1,573	-7,125	-11,237
Realized gains, net
3,852	5,594	4,714	2,827	10,686	5,689	7,275	4,714	9,363	4,546	1,734	1,372	5,703	1,972	6,615	9,884	9,538	20,199	5,548	6,316	4,306	4,791	8,532	1,063	1,092	1,968	10,468	4,409	19,445	23,787	18,551	12,467	20,985	102	1,145	5,835	3,864	1,511	1,568	16,079	44,338
Net change in:
Accrued interest receivable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,206	275	-76	-	-235	-383	-3,349
Deferred tax asset
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	473	-1,179	-1,179
Accrued interest receivable and other assets
-107,740	-57,987	32,212	58,979	50,006	9,127	65,200	3,346	-35,824	-2,306	-6,358	15,736	10,490	-34,589	-28,650	-9,389	30,056	-2,432	62,340	-10,129	38,394	-121	33,871	16,656	7,279	-9,628	-13,245	14,101	-3,230	-3,224	-6,239	19,712	-19,011	10,676	31,795	3,406	-3,529	-34,846	12,821	15,055	-1,976
Accrued interest payable and accrued expenses and other liabilities
-54,414	5,551	8,695	2,375	-12,119	-13,057	37,719	-15,163	11,581	-3,143	15,163	461	-17,301	-4,096	2,338	424	4,966	-20,101	27,484	-4,866	3,476	-2,502	9,684	3,732	-13,682	13,668	-43,808	57,486	3,700	10,051	9,852	8,790	7,816	-	-	-	-	-	-	-	-
Accrued interest payable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,450	2,959	3,892	-	3,493	3,576	2,026
Accrued expenses and other liabilities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1,541	1,596	-5,947	-	5,246	-93,433	31,789
Net cash used in operating activities
-241,405	35,729	-642,844	-351,951	-206,511	-248,716	-688,640	-531,130	-143,247	-1,084,087	-362,168	-520,546	253,638	210,471	-395,459	-466,641	105,976	-200,292	-763,656	-167,187	-119,075	-257,830	-747,094	-384,551	-401,658	272,247	538,359	-579,467	-452,967	-144,716	-199,055	14,090	-233,666	2,318	-17,459	15,742	17,209	42,845	10,655	-85,249	61,642
Cash Flows From Investing Activities:
Originations of loans held-for-investment
206,634	276,274	87,277	77,638	7,000	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchases of loans held-for-investment
0	0	0	0	49,489	36,292	111,231	0	0	-	-	-	-	-	-	-	-	0	12,869	1,750	7,600	21,870	26,593	5,993	32,998	2,700	8,532	18,550	35,989	20,682	40,154	68,620	26,888	235,064	431,505	180,703	112,742	-	-	-	-
Proceeds from sales of loans held-for-investment
-	-	-	-	-	-	-	-	-	-	-	-	-	15,965	208,244	5,097	6,298	6,459	0	0	0	-	-	-	-	0	0	0	440	0	-28,401	21,607	364,536	-	-	-	1,857	-	-	-	-
Principal payments on loans held-for-investment
638,508	659,651	472,567	372,121	246,964	230,090	215,253	175,831	159,889	152,966	112,328	111,140	147,127	224,794	219,849	228,557	125,631	140,525	116,535	141,425	101,754	96,615	120,769	75,856	70,800	108,324	131,500	136,185	147,891	148,302	137,348	132,695	155,301	126,883	100,286	88,548	93,292	113,489	111,846	83,000	65,647
Purchases of real estate securities
52,259	35,564	66,869	88,099	154,871	127,418	162,175	191,906	128,069	204,154	160,685	91,088	144,948	105,904	73,837	90,081	48,446	112,664	9,423	41,565	15,613	36,261	6,231	76,453	49,709	-	-	-	-	20,662	-71,730	128,915	280,873	-	-	-	-	-	-	-	-
Sales of multifamily securities held in consolidated securitization trusts
121,000	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from sales of real estate securities
529,494	219,888	246,252	167,199	74,018	150,132	79,636	110,993	241,570	85,489	43,810	72,234	26,887	14,475	31,454	110,464	340,798	130,392	37,138	194,670	77,293	47,623	455,818	1,313	0	7,396	190,621	192	22,326	29,196	70,603	48,072	53,590	-	-	-	-	-	-	-	-
Principal payments on real estate securities
11,952	21,592	23,670	14,543	24,498	23,217	27,304	17,728	16,246	22,234	20,792	17,223	17,529	19,077	19,512	19,065	22,401	34,966	41,574	35,777	26,313	29,643	49,295	52,999	42,304	39,921	42,780	41,343	39,907	44,598	78,313	55,333	40,203	-	-	-	-	-	-	-	-
Purchases of servicer advance investments
158,618	0	634	0	68,976	395,813	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Principal repayments from servicer advance investments
22,815	53,364	38,850	45,130	66,532	94,644	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Sales of mortgage servicing rights, net
-	-	-	-	-	-	-	-	-	-	7,844	33,725	9,136	7,587	7,449	0	28,268	0	0	0	17,235	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchases of available-for-sale securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	13,223	-	49,819	23,285	162,772
Proceeds from sales of available-for-sale securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	48,072	-	963	113,503	134,025
Principal payments on available-for-sale securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	31,234	-	33,904	37,625	33,458
Proceeds from sales of trading securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	12,841	-	0	2,516	3,603
Principal payments on trading securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	15,080	-	-	-	14,290
Purchases of excess MSRs
-	-	-	-	-	-	-	-	0	-	-	-	100	-15,286	1,520	8,369	5,397	9,073	7,322	10,820	5,173	4,279	38,780	2,126	928	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Acquisition of 5 Arches, net of cash acquired
0	0	0	0	3,714	9,999	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net investment in participation in loan warehouse facility
0	0	0	0	-38,209	395	3,481	34,333	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net investment in multifamily loan fund
-24,842	7,377	4,417	6,357	22,316	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other investing activities, net
20,514	42,688	17,373	4,321	3,295	15,382	-204	7,762	-3,827	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchases of real estate securities trading
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	17,137
Principal payments on other investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,838	5,909	3,766
Net change in restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-6,249	6,156	-3,430	-2,794	5,972	1,664	97	173	62	-39	34	-19	12	8	14	-27,800	24,034	2,717	849	-2,024	-18,662	690	10,459	396	-2,686	-60,786	-6,706
Net cash provided by investing activities
910,586	110,346	418,199	356,757	140,560	-367,319	-9,447	70,551	293,463	57,324	24,089	143,334	55,631	187,757	417,400	258,577	472,983	193,399	159,661	316,073	194,112	111,298	554,216	45,635	29,435	-193,010	210,623	159,162	174,561	202,166	265,405	63,841	305,020	-107,680	-314,857	-58,969	65,952	-79,391	54,248	58,790	81,586
Cash Flows From Financing Activities:
Proceeds from borrowings on short-term debt
2,972,646	2,443,483	1,277,352	1,513,816	1,217,915	2,215,882	1,540,733	1,900,596	1,318,754	1,768,940	1,056,076	1,193,378	877,495	761,441	972,573	1,156,749	1,027,320	2,356,786	2,607,618	1,964,507	1,641,380	2,705,665	3,197,879	1,496,483	920,955	915,572	1,756,335	2,353,129	1,636,428	414,574	336,716	229,662	477,389	-	-	-	-	-	-	-	-
Repayments of Short-term Debt
2,960,444	2,757,854	1,760,515	1,215,660	1,459,648	1,436,600	1,542,747	1,978,827	1,753,090	1,068,584	1,112,817	749,972	1,105,261	1,087,307	914,213	901,879	2,078,148	2,374,576	2,127,576	2,099,609	1,933,041	2,799,528	3,081,537	1,066,815	494,956	891,108	2,363,997	1,628,482	1,467,032	384,870	269,921	215,208	464,480	269,443	40,891	-40,891	44,137	-	-	-	-
Proceeds from issuance of asset-backed securities
377,164	376,990	689,602	0	330,534	0	733,003	484,104	441,741	280,202	286,898	0	0	-	-	-	-	-	-	-	420	-	-	-	0	-	-	-	0	171,746	2,349	0	96	3,203	603,315	1,345	280,111	-	-	-	-
Repayments on asset-backed securities issued
363,696	402,468	303,862	253,643	163,146	153,643	123,747	96,807	84,974	58,806	42,986	47,762	55,609	52,550	50,282	107,651	50,868	132,348	81,665	94,031	80,918	110,486	111,387	86,338	88,523	118,414	152,138	149,560	164,288	192,398	169,134	157,260	164,740	142,315	135,296	104,054	110,896	124,481	130,650	103,646	96,568
Proceeds from issuance of long-term debt
133,961	0	387,053	0	0	-	-	-	-	-	-	-	-	0	0	0	771,287	243,826	519,000	282,464	354,932	497,105	203,756	32,399	36,782	4,875	28,019	0	304,100	-	-	-	-	-	-	-	-	-	-	-	-
Deferred debt issuance costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	1	32	6,934	0	0	0	0	0	0	9,184	-	-	-	-	-95	2,903	0	1,695	-	-	-	-
Repayments on long-term debt
633,448	-	-	-	0	-	-	-	-	-	-	-	-	0	0	0	118,146	25,103	251,134	251,134	0	0	0	668	17	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net settlements of derivatives
84,336	-	-	-	35	-	-	-	85	-	43	38	34	37	37	9	73	11	1,031	-341	-658	845	857	929	721	-	-	-	-	3,655	7,852	-4,786	16,981	9,635	15,558	9,817	4,916	5,566	13,648	13,878	12,390
Net proceeds from issuance of common stock
2,262	23,740	228,637	15,821	182,512	25,290	117,134	89	88	78	79	72	73	84	74	69	77	103	3,700	3,364	134	5,671	2,053	1,665	122	2,215	3,388	2,930	134	4,364	34,406	316	-24	-	-	-	170	1,124	1,111	1,618	113
Net payments on repurchase of common stock
-	-	-	-	-	0	0	0	16,315	8,417	0	0	0	342	3,496	1,248	22,987	53,778	32,042	0	0	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
Taxes paid on equity award distributions
2,632	-	-	-	2,033	-	-	-	371	1,600	6	929	1,601	2,930	8	4,162	229	356	119	7,655	318	8	726	6,004	905	72	48	5,429	312	-	-	-	-	-	-	-	-	-	-	-	-
Dividends paid
0	35,166	34,418	30,094	29,774	26,075	25,536	23,388	21,803	22,090	22,097	22,023	22,089	22,059	22,103	21,997	22,306	22,783	23,820	24,106	24,162	23,995	23,765	23,764	23,749	23,739	23,580	23,531	23,564	20,941	20,839	20,266	20,232	40,304	20,132	20,129	20,121	20,023	20,000	19,975	19,890
Other financing activities, net
3,497	-3,505	1,867	-467	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-119	0	0	-8,639
Change in noncontrolling interests
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-2,363	-4,558	-8,338	-686	-829	-548	-6,919
Net cash (used in) provided by financing activities
-556,029	-361,388	478,693	31,841	76,325	620,343	698,792	479,675	-116,055	889,701	402,724	372,726	-307,026	-403,700	-17,492	119,872	-494,073	-8,240	612,931	-226,280	-40,947	266,645	185,416	346,029	348,988	-110,682	-752,030	549,043	276,282	-15,754	-96,485	-157,970	-188,972	239,092	385,785	-97,072	90,178	-105,780	-164,016	73,082	-144,293
Net increase in cash, cash equivalents and restricted cash
113,152	-215,313	254,048	36,647	10,374	4,308	705	19,096	34,161	-137,062	64,645	-4,486	2,243	-5,472	4,449	-88,192	84,886	-15,133	8,936	-77,394	34,090	120,113	-7,462	7,113	-23,235	-31,445	-3,048	128,738	-2,124	41,696	-30,135	-80,039	-117,618	133,730	53,469	-140,299	173,339	-142,326	-99,113	46,623	-1,065
Supplemental Cash Flow Information:
Cash paid during the period for:
Interest
170,884	133,180	115,950	103,400	99,686	68,011	55,222	45,496	38,285	35,940	23,065	29,548	14,726	25,111	16,295	27,124	18,634	28,851	16,558	26,408	15,032	24,303	18,889	22,772	15,386	25,024	22,813	19,288	18,293	25,181	30,575	29,084	30,068	50,948	19,405	19,571	16,833	17,980	19,161	16,490	16,156
Taxes
109	986	2,819	4,081	77	4,222	2,650	3,680	42	1,270	436	1,036	4	477	359	403	64	110	7	10	38	8	0	0	1,399	0	2,300	235	862	87	70	140	15	3	3	27	18	29	171	11	4
Supplemental Noncash Information:
Servicing Asset at Fair Value, Additions
-	-	-	-	-	-	-	-	-	0	0	1	7,386	2,381	1,991	2,225	3,463	12,428	15,463	21,159	15,675	17,038	18,986	9,682	2,294	2,935	12,514	16,148	12,466	-	-	-	-	-	-	-	-	-	-	-	-
Deconsolidation Of Multifamily Loans Held In Securitizations Trusts
3,849,779	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deconsolidation Of Multifamily Asset Backed Securities
3,706,789	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Transfers from loans held-for-sale to loans held-for-investment
382,635	440,545	842,494	129,035	389,486	81,639	911,844	561,710	507,616	601,554	396,499	62,381	184,996	186,116	151,919	65,007	660,818	591,801	300,347	215,826	447,840	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Transfers from loans held-for-investment to loans held-for-sale
1,857,781	0	0	50	22,758	0	15,717	0	0	-	-	-	-	0	0	304,258	54,747	87,094	66,918	0	0	0	-37,631	0	37,631	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Transfers from residential loans to real estate owned
6,363	3,329	182	63	5,035	1,965	304	567	1,268	1,043	1,133	1,076	968	3,153	2,612	3,825	2,042	2,760	960	1,614	3,166	2,091	2,921	1,697	135	1,263	761	1,983	704	4,145	1,419	800	2,606	2,840	2,452	3,570	2,396	6,779	4,733	5,218	3,707
Right-of-use asset obtained in exchange for operating lease liability
5,362	78	0	355	12,661	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Dividends Payable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	105	19,535	-	19	39	19,438