XML 71 R4.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Consolidated Statements of Income and Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Revenues      
Loan origination and debt brokerage fees, net $ 258,471 $ 234,681 $ 245,484
Fair value of expected net cash flows from servicing, net 180,766 172,401 193,886
Servicing fees 214,550 200,230 176,352
Escrow earnings and other interest income 56,835 42,985 20,396
Other revenues 80,898 60,918 51,272
Total revenues 817,219 725,246 711,857
Expenses      
Personnel 346,168 297,303 289,277
Amortization and depreciation 152,472 142,134 131,246
Provision (benefit) for credit losses 7,273 808 (243)
Interest expense on corporate debt 14,359 10,130 9,745
Other operating costs 66,596 62,021 48,171
Total expenses 586,868 512,396 478,196
Income from operations 230,351 212,850 233,661
Income tax expense 57,121 51,908 21,827
Net income before noncontrolling interests 173,230 160,942 211,834
Less: net income (loss) from noncontrolling interests (143) (497) 707
Walker and Dunlop net income 173,373 161,439 211,127
Other comprehensive income (loss), net of tax:      
Net change in unrealized gains and losses on pledged available-for-sale securities 812 (168) (14)
Walker and Dunlop comprehensive income $ 174,185 $ 161,271 $ 211,113
Basic earnings per share (NOTE 11) $ 5.61 $ 5.15 $ 6.72
Diluted earnings per share (NOTE 11) $ 5.45 $ 4.96 $ 6.47
Basic weighted average shares outstanding 29,913 30,202 30,176
Diluted weighted average shares outstanding 30,815 31,384 31,386
Loans Held for Sale      
Revenues      
Net warehouse interest income $ 1,917 $ 5,993 $ 15,077
Loans Held for Investment      
Revenues      
Net warehouse interest income $ 23,782 $ 8,038 $ 9,390