XML 15 R4.htm IDEA: XBRL DOCUMENT v3.20.2
Condensed Consolidated Statements of Income and Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Revenues    
Loan origination and debt brokerage fees, net $ 76,373 $ 57,797
Fair value of expected net cash flows from servicing, net 68,000 40,938
Servicing fees 55,434 52,199
Net warehouse interest income 5,495 7,021
Escrow earnings and other interest income 10,743 14,068
Other revenues 18,112 15,414
Total revenues 234,157 187,437
Expenses    
Personnel 89,525 71,631
Amortization and depreciation 39,762 37,903
Provision for credit losses 23,643 2,675
Interest expense on corporate debt 2,860 3,652
Other operating costs 18,090 15,492
Total expenses 173,880 131,353
Income from operations 60,277 56,084
Income tax expense 12,672 12,024
Net income before noncontrolling interests 47,605 44,060
Less: net income (loss) from noncontrolling interests (224) (158)
Walker and Dunlop net income 47,829 44,218
Other comprehensive income (loss), net of tax:    
Net change in unrealized gains and losses on pledged available-for-sale securities (1,917) 301
Walker and Dunlop comprehensive income $ 45,912 $ 44,519
Basic earnings per share (NOTE 10) $ 1.53 $ 1.44
Diluted earnings per share (NOTE 10) $ 1.49 $ 1.39
Basic weighted average shares outstanding 30,226 29,680
Diluted weighted average shares outstanding 31,160 30,684