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Condensed Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Revenues        
Gains from mortgage banking activities $ 111,304 $ 100,630 $ 309,912 $ 249,406
Servicing fees 44,900 37,134 129,639 101,554
Net warehouse interest income 5,358 5,614 17,778 15,925
Escrow earnings and other interest income 5,804 2,630 13,610 6,225
Other 12,370 8,778 33,716 23,775
Total revenues 179,736 154,786 504,655 396,885
Expenses        
Personnel 78,469 64,377 198,157 154,365
Amortization and depreciation 32,343 29,244 97,541 80,824
Provision (benefit) for credit losses 9 283 (216) 166
Interest expense on corporate debt 2,555 2,485 7,401 7,419
Other operating expenses 11,664 9,685 34,871 29,511
Total expenses 125,040 106,074 337,754 272,285
Income from operations 54,696 48,712 166,901 124,600
Income tax expense 19,988 18,851 54,621 47,295
Net income before noncontrolling interests 34,708 29,861 112,280 77,305
Less: net income from noncontrolling interests 330 233 114 198
Walker and Dunlop net income $ 34,378 $ 29,628 $ 112,166 $ 77,107
Basic earnings per share $ 1.14 $ 1.01 $ 3.74 $ 2.62
Diluted earnings per share $ 1.06 $ 0.96 $ 3.49 $ 2.51
Basic weighted average shares outstanding 30,085 29,374 30,009 29,417
Diluted weighted average shares outstanding 32,312 30,793 32,170 30,743