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Condensed Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Revenues        
Gains from mortgage banking activities $ 102,176 $ 102,453 $ 198,608 $ 148,776
Servicing fees 43,214 32,771 84,739 64,420
Net warehouse interest income 5,800 3,580 12,420 10,311
Escrow earnings and other interest income 4,514 1,955 7,806 3,595
Other 10,703 7,099 21,346 14,997
Total revenues 166,407 147,858 324,919 242,099
Expenses        
Personnel 63,516 55,758 119,688 89,988
Amortization and depreciation 32,860 26,425 65,198 51,580
Provision (benefit) for credit losses (93) 292 (225) (117)
Interest expense on corporate debt 2,443 2,465 4,846 4,934
Other operating expenses 11,599 11,212 23,207 19,826
Total expenses 110,325 96,152 212,714 166,211
Income from operations 56,082 51,706 112,205 75,888
Income tax expense 21,570 19,595 34,633 28,444
Net income before noncontrolling interests 34,512 32,111 77,572 47,444
Less: net income (loss) from noncontrolling interests (55) 90 (216) (35)
Walker & Dunlop net income $ 34,567 $ 32,021 $ 77,788 $ 47,479
Basic earnings per share $ 1.15 $ 1.09 $ 2.60 $ 1.61
Diluted earnings per share $ 1.08 $ 1.05 $ 2.43 $ 1.55
Basic weighted average shares outstanding 30,131 29,388 29,971 29,438
Diluted weighted average shares outstanding 32,097 30,627 32,067 30,714