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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities    
Net income before noncontrolling interests $ 74,135 $ 171,296
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 (107,446) (159,970)
Change in the fair value of premiums and origination fees 6,634 8,586
Amortization and depreciation 170,737 177,101
Provision (benefit) for credit losses (11,088) (13,120)
Gain from revaluation of previously held equity-method investment   (39,641)
Originations of loans held for sale (8,402,185) (13,877,961)
Proceeds from transfers of loans held for sale 8,023,294 13,283,455
Other operating activities, net (86,493) (16,512)
Net cash provided by (used in) operating activities (332,412) (466,766)
Cash flows from investing activities    
Capital expenditures (13,880) (19,302)
Purchases of equity-method investments (15,062) (25,098)
Purchases of pledged available-for-sale ("AFS") securities   (51,302)
Proceeds from prepayment and sale of pledged AFS securities 9,274 9,261
Investments in joint ventures   (5,040)
Distributions from joint ventures 5,436 11,926
Acquisitions, net of cash acquired   (114,163)
Originations of loans held for investment   (50,772)
Principal collected on loans held for investment 160,801 73,500
Net cash provided by (used in) investing activities 146,569 (170,990)
Cash flows from financing activities    
Borrowings (repayments) of warehouse notes payable, net 387,109 593,685
Borrowings of interim warehouse notes payable   36,459
Repayments of interim warehouse notes payable (119,835) (26,000)
Repayments of notes payable (120,046) (29,487)
Borrowings of notes payable 196,000  
Proceeds from issuance of common stock 2,186 263
Repurchase of common stock (18,928) (40,675)
Cash dividends paid (63,540) (60,025)
Payment of contingent consideration (26,090) (19,720)
Distributions to noncontrolling interest holders (3,328) (2,035)
Debt issuance costs (5,321) (2,831)
Net cash provided by (used in) financing activities 228,207 449,634
Net increase (decrease) in cash, cash equivalents, restricted cash, and restricted cash equivalents (NOTE 2) 42,364 (188,122)
Cash, cash equivalents, restricted cash, and restricted cash equivalents at beginning of period 258,283 393,180
Total of cash, cash equivalents, restricted cash, and restricted cash equivalents at end of period 300,647 205,058
Supplemental Disclosure of Cash Flow Information:    
Cash paid to third parties for interest 86,663 48,590
Cash paid for income taxes $ 26,656 $ 56,099