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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities    
Net income before noncontrolling interests $ 162,854 $ 130,275
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Gains attributable to the fair value of future servicing rights, net of guaranty obligation (236,434) (132,995)
Change in the fair value of premiums and origination fees (24,393) 920
Amortization and depreciation 123,998 112,920
Provision (benefit) for credit losses 32,029 2,864
Originations of loans held for sale (15,923,846) (12,098,180)
Sales of loans to third parties 13,517,432 11,910,016
Other operating activities, net 51,492 (18,848)
Net cash provided by (used in) operating activities (2,296,868) (93,028)
Cash flows from investing activities    
Capital expenditures (2,050) (4,166)
Purchase of equity-method investments (974)  
Purchase of pledged available-for-sale ("AFS") securities (14,130) (25,611)
Proceeds from prepayment of pledged AFS securities 15,531 18,116
Distributions from (investments in) joint ventures, net (3,538) (10,377)
Acquisitions, net of cash acquired (46,784) (7,180)
Originations of loans held for investment (36,950) (154,302)
Principal collected on loans held for investment upon payoff 236,519 200,315
Net cash provided by (used in) investing activities 147,624 16,795
Cash flows from financing activities    
Borrowings (repayments) of warehouse notes payable, net 2,497,627 53,372
Borrowings of interim warehouse notes payable 34,028 85,678
Repayments of interim warehouse notes payable (109,860) (38,527)
Repayments of note payable (2,234) (2,250)
Proceeds from issuance of common stock 12,587 4,453
Repurchase of common stock (42,525) (29,850)
Purchase of noncontrolling interests (10,400)  
Cash dividends paid (33,984) (27,936)
Payment of contingent consideration (1,641) (6,450)
Debt issuance costs (2,340) (2,465)
Net cash provided by (used in) financing activities 2,341,258 36,025
Net increase in cash, cash equivalents, restricted cash, and restricted cash equivalents (NOTE 2) 192,014 (40,208)
Cash, cash equivalents, restricted cash, and restricted cash equivalents at beginning of period 136,566 120,348
Total of cash, cash equivalents, restricted cash, and restricted cash equivalents at end of period 328,580 80,140
Supplemental Disclosure of Cash Flow Information:    
Cash paid to third parties for interest 33,116 51,085
Cash paid for income taxes $ 21,437 $ 33,665