XML 16 R4.htm IDEA: XBRL DOCUMENT v3.24.1.u1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Revenue    
Loan production income $ 298,954 $ 205,424
Loan servicing income 184,702 218,557
Change in fair value of mortgage servicing rights (15,563) (337,287)
Interest income 101,863 74,580
Total revenue, net 569,956 161,274
Expenses    
Salaries, commissions and benefits 154,241 121,003
Direct loan production costs 31,436 16,483
Marketing, travel, and entertainment 19,111 17,210
Depreciation and amortization 11,340 11,670
General and administrative 40,809 34,619
Servicing costs 30,324 36,862
Interest expense 98,668 63,284
Other income (237) (241)
Total expenses 385,692 300,890
Earnings (loss) before income taxes 184,264 (139,616)
Provision (benefit) for income taxes 3,733 (1,003)
Net income (loss) 180,531 (138,613)
Net income (loss) attributable to non-controlling interests 171,801 (126,672)
Net income (loss) attributable to UWM Holdings Corporation $ 8,730 $ (11,941)
Earnings (loss) per share of Class A common stock (see Note 17):    
Basic (in usd per share) $ 0.09 $ (0.13)
Diluted (in usd per share) $ 0.09 $ (0.13)
Weighted average shares outstanding:    
Basic (in shares) 94,365,991 92,920,794
Diluted (in shares) 1,598,647,205 92,920,794