Redwood Trust, Inc. (RWT) Financial Statements (2024 and earlier)

Company Profile

Business Address ONE BELVEDERE PLACE
MILL VALLEY, CA 94941
State of Incorp. MD
Fiscal Year End December 31
Industry (SIC) 6798 - Real Estate Investment Trusts (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments258,894450,485461,260196,966175,7641,113,507
Cash and cash equivalents258,894450,485461,260196,966175,764144,663
Short-term investments      968,844
Total current assets:258,894450,485461,260196,966175,7641,113,507
Noncurrent Assets
Operating lease, right-of-use asset16,17718,77215,01211,866
Property, plant and equipment12,6169,0194,2034,9015,1062,645
Intangible assets, net (including goodwill), including:40,89241,56156,865161,464  
Goodwill23,373  88,675  
Intangible assets, net (excluding goodwill)40,89241,56156,86572,789  
Other undisclosed intangible assets, net (including goodwill)(23,373)     
Deferred income tax assets41,93120,867  
Total noncurrent assets:111,61690,21976,080178,2315,1062,645
Other undisclosed assets12,660,38914,166,2409,817,72617,620,24311,756,5365,923,670
TOTAL ASSETS:13,030,89914,706,94410,355,06617,995,44011,937,4067,039,822
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities11,2342,72613,06911,2684,0003,339
Interest and dividends payable2,0001,0006,0004,0002,000
Taxes payable7265,614   
Accounts payable4,234 6,4555,268 1,339
Accrued liabilities7,000     
Debt2,029,6792,177,362522,6092,329,1452,601,2792,188,682
Total current liabilities:2,040,9132,180,088535,6782,340,4132,605,2792,192,021
Noncurrent Liabilities
Liabilities, other than long-term debt    5,152  
Deferred income tax liabilities    5,152
Total noncurrent liabilities:    5,152  
Other undisclosed liabilities9,906,00111,140,7698,708,48913,822,6447,983,3333,635,514
Total liabilities:11,946,91413,320,8579,244,16716,168,20910,588,6125,827,535
Equity
Equity, attributable to parent, including:1,083,9851,386,0871,110,8991,827,2311,348,7941,212,287
Preferred stock      
Common stock1,1351,1491,1211,144849766
Additional paid in capital2,349,8452,316,7992,264,8742,269,6171,811,4221,673,845
Accumulated other comprehensive income (loss)(68,868)(8,927)(4,221)41,51361,29785,248
Retained earnings1,153,3701,316,890997,2771,579,1241,409,9411,290,341
Other undisclosed equity, attributable to parent(2,351,497)(2,239,824)(2,148,152)(2,064,167)(1,934,715)(1,837,913)
Equity, attributable to noncontrolling interest44,85942,67016,94113,18914,331 
Other undisclosed equity(44,859)(42,670)(16,941)(13,189)(14,331) 
Total equity:1,083,9851,386,0871,110,8991,827,2311,348,7941,212,287
TOTAL LIABILITIES AND EQUITY:13,030,89914,706,94410,355,06617,995,44011,937,4067,039,822

Income Statement (P&L) ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues658,459524,869529,788545,436305,388172,638
Net investment income631,921494,858495,176502,358265,473154,707
Gross profit:658,459524,869529,788545,436305,388172,638
Operating expenses     (82,782)(77,156)
Other operating income (expense), net21,204(16,695)(108,785)(13,022)  
Other expenses(15,590)(16,695)(108,785)(13,022)  
Operating income:679,663508,174421,003532,414222,60695,482
Interest and debt expense(552,400)(426,749)(448,005)(479,808)(239,039)(108,816)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes(310,703)256,666(559,453)124,017147,121165,492
Income (loss) from continuing operations before income taxes:(183,440)338,091(586,455)176,623130,688152,158
Income tax expense (benefit)19,920(18,478)4,608(7,440)(11,088)(11,752)
Income (loss) from continuing operations:(163,520)319,613(581,847)169,183119,600140,406
Income (loss) before gain (loss) on sale of properties:319,613(581,847)169,183119,600140,406
Net income (loss) attributable to parent:(163,520)319,613(581,847)169,183119,600140,406
Preferred stock dividends and other adjustments      
Other undisclosed net loss available to common stockholders, basic(4,335)(10,635)(1,990)(4,797)(3,754)(3,632)
Net income (loss) available to common stockholders, basic:(167,855)308,978(583,837)164,386115,846136,774
Interest on convertible debt  27,463 36,21232,65326,898
Other undisclosed net income (loss) available to common stockholders, diluted 755 (476)(529)(204)
Net income (loss) available to common stockholders, diluted:(167,855)337,196(583,837)200,122147,970163,468

Comprehensive Income ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income (loss):(163,520)319,613(581,847)169,183119,600140,406
Other comprehensive income (loss)(59,941)(4,706)(45,734)(19,784)(23,951)13,395
Comprehensive income (loss):(223,461)314,907(627,581)149,39995,649153,801
Other undisclosed comprehensive loss, net of tax, attributable to parent      
Comprehensive income (loss), net of tax, attributable to parent:(223,461)314,907(627,581)149,39995,649153,801

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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