REDWOOD TRUST, INC. RWT Cash Flow

Redwood trust, inc. (RWT)

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	Dec'10	Sep'10	Jun'10	Mar'10
Cash Flows From Operating Activities:
Net Income (Loss) Attributable to Parent
-828	169	119	125	127	119	151	146	150	140	134	151	156	131	146	113	99	102	88	114	103	100	98	75	124	173	190	207	161	131	87	48	38	26	43	62	81	110	0	0	0
Adjustments to reconcile net income to net cash used in operating activities:
Amortization of premiums, discounts, and securities issuance costs, net
4	5	6	5	10	13	15	16	17	18	20	22	23	26	28	29	32	34	34	34	34	34	34	31	29	26	12	11	12	12	25	27	28	31	34	36	37	35	0	0	0
Depreciation and amortization of non-financial assets
14	10	6	1	1	1	1	1	1	1	1	1	1	1	1	1	0	0	0	0	0	0	0	0	0	0	0	0	1	1	2	2	2	1	1	0	0	0	0	0	0
Originations of held-for-sale loans
821	569	124	84	28	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchases of held-for-sale loans
7,499	5,823	5,568	5,924	6,332	7,162	7,542	7,168	6,422	5,705	4,896	4,684	4,811	4,953	6,068	7,967	9,732	11,045	11,868	12,456	11,294	9,917	7,745	5,427	6,207	7,766	7,677	6,794	4,416	2,335	0	0	0	-	-	-	-	-	-	-	-
Proceeds from sales of held-for-sale loans
7,080	5,198	4,257	4,540	4,652	5,383	4,920	4,838	4,137	3,903	4,341	4,065	4,203	4,192	4,950	6,552	8,642	9,761	10,538	11,153	9,796	8,126	6,479	5,398	5,920	7,405	6,899	5,287	3,577	1,696	0	0	0	-	-	-	-	-	-	-	-
Principal payments on held-for-sale loans
108	106	92	86	68	66	66	61	56	52	62	66	69	80	89	86	89	80	57	47	37	30	29	25	22	19	11	10	12	9	0	0	0	-	-	-	-	-	-	-	-
Net settlements of derivatives
-220	-66	-18	-15	22	51	37	29	-0	-9	-3	2	4	-7	-26	-32	-41	-59	-57	-54	-44	-33	-33	20	35	45	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Reversal of provision for loan losses
-	-	-	-	-	-	-	-	-	-	-	-	-	-7	-7	-6	-0	-0	1	-0	-0	0	3	6	3	4	3	3	5	3	8	10	13	16	16	14	17	24	0	0	0
Non-cash equity award compensation expense
15	14	13	13	13	13	13	12	11	10	9	9	9	12	13	14	14	11	11	10	10	11	11	10	11	13	13	14	13	9	9	9	9	9	8	8	7	11	0	0	0
Goodwill, Impairment Loss
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Market valuation adjustments
-846	97	33	38	29	24	54	54	61	51	46	43	18	-12	-20	-56	-48	-51	-42	-8	-10	-0	23	-0	50	97	95	112	56	14	-14	-36	-37	-40	-29	-18	-14	-19	0	0	0
Realized gains, net
16	23	23	26	28	27	25	20	17	13	10	15	24	28	46	45	41	36	20	23	18	15	12	14	17	36	58	66	74	75	52	34	28	10	12	12	23	63	0	0	0
Net change in:
Accrued interest receivable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0
Deferred tax asset
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Accrued interest receivable and other assets
-74	83	150	183	127	41	30	-41	-28	17	-14	-37	-62	-42	-10	80	79	88	90	62	88	57	48	1	-1	-12	-5	1	7	-8	5	43	26	42	-3	-22	-10	-8	0	0	0
Accrued interest payable and accrued expenses and other liabilities
-37	4	-14	14	-2	21	30	8	24	-4	-5	-18	-18	3	-12	12	7	5	23	5	14	-2	13	-40	13	31	27	81	32	36	0	0	0	-	-	-	-	-	-	-	-
Accrued interest payable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0
Accrued expenses and other liabilities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0
Net cash used in operating activities
-1,200	-1,165	-1,450	-1,495	-1,674	-1,611	-2,447	-2,120	-2,110	-1,713	-418	-451	-397	-545	-956	-1,324	-1,025	-1,250	-1,307	-1,291	-1,508	-1,791	-1,261	24	-170	-221	-638	-1,376	-782	-563	-416	-234	-233	17	58	86	-14	29	0	0	0
Cash Flows From Investing Activities:
Originations of loans held-for-investment
647	448	171	84	7	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchases of loans held-for-investment
0	49	85	197	197	147	0	0	0	-	-	-	-	-	-	-	-	22	44	57	62	87	68	50	62	65	83	115	165	156	370	762	874	960	0	0	0	-	-	-	-
Proceeds from sales of loans held-for-investment
-	-	-	-	-	-	-	-	-	-	-	-	-	235	226	17	12	6	0	0	0	-	-	-	-	0	0	-27	-6	357	0	0	0	-	-	-	0	-	-	-	-
Principal payments on loans held-for-investment
2,142	1,751	1,321	1,064	868	781	703	601	536	523	595	702	820	798	714	611	524	500	456	460	394	364	375	386	446	523	563	569	566	573	552	515	471	409	395	407	401	373	0	0	0
Purchases of real estate securities
242	345	437	532	636	609	686	684	583	600	502	415	414	318	325	260	212	179	102	99	134	168	0	0	0	-	-	-	-	358	0	0	0	-	-	-	-	-	-	-	-
Sales of multifamily securities held in consolidated securitization trusts
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from sales of real estate securities
1,162	707	637	470	414	582	517	481	443	228	157	145	183	497	613	618	702	439	356	775	582	504	464	199	198	220	242	122	170	201	0	0	0	-	-	-	-	-	-	-	-
Principal payments on real estate securities
71	84	85	89	92	84	83	77	76	77	74	73	75	80	95	118	134	138	133	141	158	174	184	178	166	163	168	204	218	218	0	0	0	-	-	-	-	-	-	-	-
Purchases of servicer advance investments
159	69	465	464	464	395	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Principal repayments from servicer advance investments
160	203	245	206	161	94	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Sales of mortgage servicing rights, net
-	-	-	-	-	-	-	-	-	-	58	57	24	43	35	28	28	17	17	17	17	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchases of available-for-sale securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	0	0	0
Proceeds from sales of available-for-sale securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	0	0	0
Principal payments on available-for-sale securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	0	0	0
Proceeds from sales of trading securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	0	0	0
Principal payments on trading securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	0
Purchases of excess MSRs
-	-	-	-	-	-	-	-	0	-	-	-	-5	0	24	30	32	32	27	59	50	46	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Acquisition of 5 Arches, net of cash acquired
0	3	13	13	13	9	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net investment in participation in loan warehouse facility
0	-38	-37	-34	0	38	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net investment in multifamily loan fund
-6	40	33	28	22	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other investing activities, net
84	67	40	22	26	19	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchases of real estate securities trading
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0
Principal payments on other investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Net change in restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-6	5	1	4	7	1	0	0	0	-0	0	0	-27	-3	-1	-0	25	-17	-19	-9	-7	8	-52	-69	0	0	0
Net cash provided by investing activities
1,795	1,025	548	120	-165	-12	411	445	518	280	410	804	919	1,336	1,342	1,084	1,142	863	781	1,175	905	740	436	92	206	351	746	801	705	836	526	-53	-176	-415	-387	-18	99	115	0	0	0
Cash Flows From Financing Activities:
Proceeds from borrowings on short-term debt
8,207	6,452	6,224	6,488	6,875	6,975	6,529	6,044	5,337	4,895	3,888	3,804	3,768	3,918	5,513	7,148	7,956	8,570	8,919	9,509	9,041	8,320	6,530	5,089	5,945	6,661	6,160	4,740	2,617	1,458	0	0	0	-	-	-	-	-	-	-	-
Repayments of Short-term Debt
8,694	7,193	5,872	5,654	6,417	6,711	6,343	5,913	4,684	4,036	4,055	3,856	4,008	4,981	6,268	7,482	8,679	8,534	8,959	9,913	8,880	7,442	5,534	4,816	5,378	6,350	5,844	3,750	2,337	1,334	1,219	990	733	313	0	0	0	-	-	-	-
Proceeds from issuance of asset-backed securities
1,443	1,397	1,020	1,063	1,547	1,658	1,939	1,492	1,008	567	0	0	0	-	-	-	-	-	-	-	0	-	-	-	0	-	-	-	174	174	5	606	607	887	0	0	0	-	-	-	-
Repayments on asset-backed securities issued
1,323	1,123	874	694	537	459	364	283	234	205	198	206	266	261	341	372	358	388	367	396	389	396	404	445	508	584	658	675	683	683	633	599	546	492	474	470	469	455	0	0	0
Proceeds from issuance of long-term debt
521	387	0	0	0	-	-	-	-	-	-	-	-	771	1,015	1,534	1,816	1,400	1,653	1,338	1,088	770	277	102	69	336	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Deferred debt issuance costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	6	6	6	6	0	0	0	9	0	0	0	-	-	-	-	4	0	0	0	-	-	-	-
Repayments on long-term debt
0	-	-	-	0	-	-	-	-	-	-	-	-	118	143	394	645	527	502	251	0	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net settlements of derivatives
0	-	-	-	0	-	-	-	0	-	0	0	0	0	0	1	0	0	0	0	1	3	0	0	0	-	-	-	-	23	29	37	51	39	35	33	38	45	0	0	0
Net proceeds from issuance of common stock
270	450	452	340	325	142	117	0	0	0	0	0	0	0	0	3	7	7	12	11	9	9	6	7	8	8	10	41	39	39	0	0	0	-	-	-	4	3	0	0	0
Net payments on repurchase of common stock
-	-	-	-	-	16	24	24	24	8	0	3	5	28	81	110	108	85	0	0	0	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
Taxes paid on equity award distributions
0	-	-	-	0	-	-	-	2	4	5	5	8	7	4	4	8	8	8	8	7	7	7	7	6	5	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Dividends paid
99	129	120	111	104	96	92	89	88	88	88	88	88	88	89	90	93	94	96	96	95	95	95	94	94	94	91	88	85	82	101	100	100	100	80	80	80	79	0	0	0
Other financing activities, net
1	-2	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-8	0	0	0
Change in noncontrolling interests
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-15	-15	-14	-10	-8	0	0	0
Net cash (used in) provided by financing activities
-406	225	1,207	1,427	1,875	1,682	1,952	1,656	1,549	1,358	64	-355	-608	-795	-399	230	-115	337	612	184	757	1,147	769	-167	35	-37	57	713	6	-459	-204	277	338	617	273	-276	-106	-341	0	0	0
Net increase in cash, cash equivalents and restricted cash
188	85	305	52	34	58	-83	-19	-42	-74	56	-3	-86	-4	-13	-9	1	-49	85	69	153	96	-55	-50	71	92	165	138	-70	-186	-94	-10	-70	220	-55	-208	-21	-195	0	0	0
Supplemental Cash Flow Information:
Cash paid during the period for:
Interest
523	452	387	326	268	207	174	142	126	103	92	85	83	87	90	91	90	86	82	84	80	81	82	85	82	85	85	93	103	114	140	129	119	106	73	73	70	69	0	0	0
Taxes
7	7	11	11	10	10	7	5	2	2	1	1	1	1	0	0	0	0	0	0	0	1	1	3	3	3	3	1	1	0	0	0	0	0	0	0	0	0	0	0	0
Supplemental Noncash Information:
Servicing Asset at Fair Value, Additions
-	-	-	-	-	-	-	-	-	7	9	11	13	10	20	33	52	64	69	72	61	48	33	27	33	44	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Deconsolidation Of Multifamily Loans Held In Securitizations Trusts
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deconsolidation Of Multifamily Asset Backed Securities
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Transfers from loans held-for-sale to loans held-for-investment
1,794	1,801	1,442	1,512	1,944	2,062	2,582	2,067	1,568	1,245	829	585	588	1,063	1,469	1,617	1,768	1,555	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Transfers from loans held-for-investment to loans held-for-sale
1,857	22	22	38	38	15	0	0	0	-	-	-	-	359	446	513	208	154	66	-37	-37	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Transfers from residential loans to real estate owned
9	8	7	7	7	4	3	4	4	4	6	7	10	11	11	9	7	8	7	9	9	6	6	3	4	4	7	8	7	8	7	8	11	11	15	17	19	20	0	0	0
Right-of-use asset obtained in exchange for operating lease liability
5	13	13	13	12	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Dividends Payable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	0	0	0