Walker & dunlop, inc. (WD)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09
Cash flows from operating activities
Net income before noncontrolling interests

173,230

160,942

211,834

114,311

82,595

51,422

41,530

33,772

34,864

8,227

39,526

Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Gains attributable to the fair value of future servicing rights, net of guaranty obligation

180,766

172,401

193,886

192,825

133,631

96,515

91,972

92,594

-54,301

-43,052

-30,212

Change in the fair value of premiums and origination fees

-6,041

5,037

-5,781

10,796

-1,959

-2,059

-9,457

14,062

-

-

-

Gain on sale of MSR, less prepayment of MSR

-

-

-

-

-

-

-

-

-

-

-899

Gain on bargain purchase

-

-

-

-

-

-

-

-

-

-

10,922

Provision for risk-sharing obligations

-

-

-

-

-

-

-

-

-

7,469

2,265

Amortization and depreciation

152,472

142,134

131,246

111,427

98,173

80,138

75,955

53,925

22,514

16,959

12,917

Amortization and depreciation

-

-

-

-

-

-

72,876

-

-

-

-

Stock compensation-equity and liability classified

24,075

23,959

21,134

18,477

14,084

9,994

9,194

5,176

2,422

49

-

Provision for credit losses

7,273

808

-243

-612

1,644

2,206

1,322

3,140

4,724

-

-

Gains attributable to fair value of premium and origination fees

-

-

-

-

-

-

-

-

-3,231

257

-

Deferred tax expense (benefit)

22,012

17,483

-30,961

37,595

16,919

10,260

18,211

16,286

9,523

30,226

-

Originations of loans held for sale

15,746,949

15,153,003

17,018,424

12,040,559

12,111,553

8,103,452

5,818,792

5,590,067

3,271,731

2,534,883

1,650,683

Sales of loans to third parties

16,007,910

15,050,932

17,937,915

12,697,209

10,688,356

7,326,908

6,616,515

4,768,155

3,311,383

2,335,548

1,661,076

Amortization of deferred loan fees and costs

6,587

1,742

2,298

1,578

1,775

1,273

200

45

-

-

-

Amortization of debt issuance costs and debt discount

5,451

7,509

4,886

5,581

3,756

4,174

3,036

2,165

-

-

-

Origination fees received from loans held for investment

-2,553

-3,968

-1,109

-2,104

-1,429

-2,145

-691

-

-

-

-

Cash paid for cloud computing implementation costs

6,194

-

-

-

-

-

-

-

-

-

-

Tax shortfall (benefit) from vesting of equity awards

-

-

-

-

1,410

-38

1,257

244

143

-

-

Cash paid to settle risk-sharing obligations

-

-

-

1,613

795

2,138

5,290

4,633

680

2,148

498

Cash allowance received from landlord

-

-

-

-

-

-

-

-1,951

-

-

-

Cash received from the sale of assets acquired

-

-

-

-

-

-

-

6,828

-

-

-

Changes in:
Restricted cash and pledged securities

-

-

-

-

-

-

14,467

4,831

7,262

-298

-1,995

Receivables, net

2,298

4,532

12,234

5,744

623

-1,943

-9,746

14,550

5,179

-1,463

11,298

Other assets

20,924

6,861

7,064

916

-2,974

11,759

-6,755

15,761

117

73

1,098

Other liabilities

2,601

-13,957

22,866

-

-

-

-

-

-

-

-

Derivative fair value adjustments

-

-

-

-

-

-

-

-

-

-

3,676

Accounts payable and other liabilities

-

-

-

22,035

7,739

12,415

-19,257

7,128

10,820

6,984

9,483

Performance deposits from borrowers

-12,339

13,874

-4,019

5,368

-8,556

8,434

-4,269

-922

4,455

1,385

619

Net cash provided by (used in) operating activities

427,561

64,076

1,067,642

759,464

-1,338,715

-703,001

836,908

-839,183

58,061

-171,291

20,393

Cash flows from investing activities
Capital expenditures

4,711

4,722

5,207

2,478

1,413

2,525

4,519

4,599

3,758

586

146

Purchase of equity-method investments

923

-

-

-

5,000

-

-

-

-

-

-

Proceeds from the sale of equity-method investments

-

4,993

-

-

-

-

-

-

-

-

-

Purchase of pledged available-for-sale ("AFS") securities

30,611

98,442

6,966

-

-

-

-

-

-

-

-

Proceeds from prepayment of pledged debt AFS securities

22,756

-

-

-

-

-

-

-

-

-

-

Funding of preferred equity investments

-

41,100

16,884

24,835

-

-

-

-

-

-

-

Proceeds from the payoff of preferred equity investments

-

82,819

-

-

-

-

-

-

-

-

-

Distributions from (investments in) joint ventures, net

-15,944

-4,137

-6,342

-

-

-

-

-

-

-

-

Acquisitions, net of cash acquired

-

-

-

-

-

-

-

208,109

-

-

-

Net cash paid to increase ownership interest in a previously held equity method investment

-

-

-

1,058

-

-

-

-

-

-

-

Acquisitions, net of cash received

7,180

53,249

15,000

6,350

12,767

23,417

-

-

-

-

-

Purchase of mortgage servicing rights

-

1,814

7,781

43,097

-

-

-

-

-

-

-

Originations of loans held for investment

362,924

597,889

183,916

414,763

180,375

339,802

147,820

19,400

-

-

-

Principal collected on loans held for investment upon payoff

319,832

161,303

219,516

425,820

172,323

250,104

21,700

9,977

-

-

-

Sales of loans held for investment

-

-

119,750

-

-

-

-

-

-

-

-

Net cash provided by (used in) investing activities

-79,705

-552,238

97,170

-66,761

-27,232

-115,640

-130,639

-222,131

-3,758

-586

-146

Cash flows from financing activities
Borrowings (repayments) of warehouse notes payable, net

-367,864

139,298

-955,040

-649,845

1,423,911

774,935

-797,275

858,988

-29,993

151,807

-10,393

Borrowings of interim warehouse notes payable

179,765

145,043

140,341

325,828

137,397

248,024

102,755

12,375

-

-

-

Repayments of interim warehouse notes payable

67,871

61,050

237,912

355,738

125,542

179,941

16,912

5,250

-

-

-

Repayments of note payable

2,250

166,223

1,104

1,104

4,819

1,750

80,925

25,944

3,752

-5,340

5,215

Borrowings of note payable

-

298,500

-

-

-

-

173,258

83,000

-

-

-

Secured borrowings

-

70,052

-

-

-

-

22,050

-

-

-

-

Cash distributed to Column Guaranteed, LLC

-

-

-

-

-

-

-

-

-

159

-

Proceeds from issuance of common stock

5,511

8,949

3,013

3,765

7,553

7,756

1,139

151,073

2,054

58,369

-

Repurchase of common stock

30,676

68,832

34,899

12,893

50,261

37,593

3,025

741

473

-

-

Repayments of secured borrowings

-

-

-

-

-

22,050

-

-

-

-

-

Contributions from members

-

-

-

-

-

-

-

-

-

-

76

Distributions to former members

-

-

-

-

-

-

-

-

1,750

10,078

10,050

Members' equity acquired at cost

-

-

-

-

-

-

-

-

-

-

13

Cash received from acquisition of Column

-

-

-

-

-

-

-

-

-

-

8,904

Cash dividends paid

37,272

31,445

-

-

-

-

-

-

-

-

-

Payment of contingent consideration

6,450

5,150

-

-

-

-

-

-

-

-

-

Debt issuance costs

4,531

7,312

3,890

3,630

4,145

1,416

3,055

1,221

-

-

-

Distributions to noncontrolling interest holders

-

-

-

5

-

-

-

-

-

-

-

Tax benefit from vesting of equity awards

-

-

-

-

1,410

-38

1,257

244

143

-

-

Other, net

-

-

-

-

-

-

-

-

-

173

22

Net cash provided by (used in) financing activities

-331,638

321,830

-1,089,491

-693,622

1,385,504

787,927

-600,733

1,072,524

-33,771

194,772

-16,669

Net increase in cash, cash equivalents, restricted cash, and restricted cash equivalents (NOTE 2)

16,218

-166,332

75,321

-919

19,557

-30,714

105,536

11,210

20,532

22,895

3,578

Supplemental Disclosure of Cash Flow Information:
Cash paid to third parties for interest

63,564

56,430

56,267

39,311

32,854

23,950

14,813

11,922

4,662

5,164

4,044

Cash paid for income taxes

39,908

45,728

45,524

34,432

34,832

18,481

881

14,329

12,045

-

-