GHLD · As filed with the SEC
Guild Holdings cash flow statement, by fiscal year
The statement as Guild Holdings presents it in its 10-Q and 10-K: its own lines, labels and order. Tables over time lines up standardized figures across every filing.
CONSOLIDATED STATEMENTS OF CASH FLOWS · USD thousands
| USD thousands | FY2024 Year ended Dec 31, 2024 | FY2023 Year ended Dec 31, 2023 | FY2022 Year ended Dec 31, 2022 | FY2021 Year ended Dec 31, 2021 | FY2020 Year ended Dec 31, 2020 | FY2019 Year ended Dec 31, 2019 |
|---|---|---|---|---|---|---|
| Cash flows from operating activities | ||||||
| Net income (loss) | 96,932 | (39,137) | 328,630 | 283,782 | 370,577 | 5,577 |
| Adjustments to reconcile net income (loss) to net cash used in operating activities: | ||||||
| Depreciation and amortization | 15,138 | 14,580 | 15,525 | 11,488 | 7,501 | 7,333 |
| Valuation adjustment of mortgage servicing rights | 38,545 | 139,560 | (217,551) | 101,572 | 296,307 | 255,219 |
| Valuation adjustment of mortgage loans held for sale | 14,498 | (29,855) | 44,561 | 67,773 | (56,083) | (5,061) |
| Valuation adjustment of reverse mortgage loans held for investment and HMBS-related borrowings | — | (8,233) | — | — | — | — |
| Valuation adjustment of reverse mortgage loans held for investment and HMBS-related borrowings | (11,043) | — | — | — | — | — |
| Unrealized gain on derivatives | (20,435) | (1,404) | 27,936 | 82,668 | (77,009) | (12,675) |
| Amortization of right-of-use assets | 22,640 | 21,427 | 15,972 | 21,705 | 18,599 | — |
| Provision for investor reserves | 15,162 | 8,675 | 6,876 | 10,089 | 7,091 | 10,203 |
| Provision for foreclosure losses | — | — | — | — | 7,700,000 | 3,895,000 |
| (Relief) provision for foreclosure losses | — | — | — | (518) | — | — |
| Provision for foreclosure losses | 1,617 | 1,188 | 300 | — | — | — |
| Valuation adjustment of contingent liabilities due to acquisitions, net | 9,490 | 2,479 | (45,075) | 4,957 | 31,705 | 7,920 |
| Gain on sale of mortgage loans excluding fair value of other financial instruments, net | (566,347) | (336,245) | (528,243) | (1,289,465) | (1,323,482) | (638,902) |
| Earnings from unconsolidated joint ventures, net of distributions received | — | (337) | — | — | — | — |
| Paid-in-kind interest income | — | (306) | — | — | — | — |
| Deferred income taxes | — | (7,943) | 90,718 | 36,644 | 3,092 | (25,976) |
| Benefit from investor reserves | — | (4,796) | (9,219) | (7,694) | (9,077) | (7,994) |
| Foreclosure loss reserve | — | (4,192) | (1,957) | (1,529) | (3,167) | (3,910) |
| Deferred income taxes | 26,419 | — | — | — | — | — |
| Stock-based compensation | 9,704 | 8,662 | 7,322 | 5,982 | 1,045 | — |
| Origination of mortgage servicing rights | (203,191) | — | — | — | — | — |
| Origination and purchase of mortgage loans held for sale | (22,140,156) | (14,193,944) | (19,220,547) | (37,178,171) | (35,238,696) | (21,749,675) |
| Proceeds on sale of and payments from mortgage loans held for sale | 22,069,785 | 14,504,592 | 21,062,670 | 39,029,444 | 35,754,326 | 21,854,967 |
| Other | 6,261 | 3,437 | (6,171) | 4,473 | 146 | 281 |
| Changes in operating assets and liabilities: | ||||||
| Accounts and notes receivable, net | — | (3,224) | 12,288 | (21,819) | (13,312) | (6,656) |
| Other assets | — | 2,768 | (5,172) | (19,457) | (11,563) | 11,791 |
| Mortgage servicing rights | — | (161,378) | (246,648) | (325,099) | (324,903) | (154,201) |
| Advances and other assets | (18,788) | — | — | — | — | — |
| Accounts payable and accrued expenses | 29,110 | (3,928) | (22,742) | 437 | 7,845 | 7,533 |
| Accrued compensation and benefits | — | 799 | (45,482) | (42,862) | 61,016 | 15,307 |
| Income taxes | — | 23,024 | 14,475 | (54,260) | 20,469 | — |
| Contingent liability payments | — | 0 | (7,125) | (27,507) | (15,348) | (1,437) |
| Operating lease liabilities | (23,669) | (22,186) | (16,008) | (18,839) | (17,358) | — |
| Deferred compensation plan liability | — | (4,616) | 4,377 | 6,494 | 34,044 | (785) |
| Real estate owned, net | — | — | — | 171 | 1,648 | 5,140 |
| Purchase and advances of real estate owned | — | — | — | — | (1,154,000) | (2,601,000) |
| Real estate owned, net | — | (1,186) | (117) | — | — | — |
| Other liabilities | (31,294) | — | — | — | — | — |
| Net cash used in operating activities | (659,622) | (91,719) | 1,259,593 | 680,459 | (468,041) | (424,707) |
| Cash flows from investing activities | ||||||
| Acquisition of businesses, net of cash acquired | (17,710) | (8,030) | (3,500) | (100,233) | — | (8,817) |
| Proceeds from the sale of property and equipment | — | — | 183 | 178 | 35 | 71 |
| Acquisition of reverse mortgage loans held for investment, net | 0 | (2,000) | — | — | — | — |
| Origination and purchase of reverse mortgage loans held for investment | (143,490) | (109,589) | — | — | — | — |
| Principal payments received on reverse mortgage loans held for investment | 41,417 | 5,089 | — | — | — | — |
| Issuance of notes receivable | 0 | (16,250) | — | — | — | — |
| Repayments on notes receivable | 0 | 5,000 | — | — | — | — |
| Purchases of property and equipment, net | (9,369) | (5,512) | (3,861) | (4,605) | (8,233) | (3,705) |
| Payments made on behalf of affiliate | — | — | — | 0 | (9,827) | (1,037) |
| Other | (23,241) | (5,311) | — | — | — | — |
| Net cash used in investing activities | (152,393) | (136,603) | (7,178) | (104,660) | (18,025) | (13,488) |
| Cash flows from financing activities | ||||||
| Borrowings on warehouse lines of credit | 23,716,919 | 14,496,450 | 18,892,553 | 38,002,230 | 34,429,145 | 21,195,017 |
| Repayments on warehouse lines of credit | (23,135,801) | (14,374,916) | (20,106,295) | (38,650,452) | (33,587,967) | (20,731,564) |
| Proceeds from issuance of reverse mortgage loans and tails accounted for as HMBS-related obligations | 142,917 | 106,691 | — | — | — | — |
| Repayments on HMBS-related obligations | — | (5,138) | — | — | — | — |
| Repayments on HMBS-related obligations | (41,797) | — | — | — | — | — |
| Borrowings on notes payable | 182,434 | 148,766 | 20,000 | 108,500 | 67,000 | 87,250 |
| Repayments on notes payable | (31,200) | (126,250) | (143,750) | (4,250) | (139,250) | (29,250) |
| Contingent liability payments | (244) | (388) | (7,300) | 0 | (6,336) | (5,251) |
| Net change in notes payable | — | — | (2,311) | (2,308) | (1,967) | 6,460 |
| Payment of offering costs | — | — | — | 0 | (4,495) | — |
| Net change in related party notes payable | 0 | (530) | — | — | — | — |
| Dividends paid | (30,702) | (30,479) | 0 | (121,057) | (37,166) | (32,500) |
| Repurchases of Class A common stock | (1,177) | (3,274) | (5,581) | — | — | (7,987) |
| Contribution from non-controlling interest | — | — | 0 | 25 | — | — |
| Taxes paid related to net share settlement of equity awards | (4,589) | (1,952) | (1,097) | — | — | — |
| Other | 12,930 | (31) | — | — | — | — |
| Net cash provided by financing activities | 809,690 | 208,949 | (1,353,781) | (667,312) | 718,964 | 482,175 |
| Decrease in cash, cash equivalents and restricted cash | (2,325) | (19,373) | (101,366) | (91,513) | 232,898 | 43,980 |
| Cash, cash equivalents and restricted cash, beginning of year | 127,381 | 146,754 | 248,120 | 339,633 | 106,735 | 62,755 |
| Cash, cash equivalents and restricted cash, end of year | 125,056 | 127,381 | 146,754 | 248,120 | 339,633 | 106,735 |
| Supplemental information | ||||||
| Cash paid for interest, net | 45,271 | 15,356 | 30,218 | 46,326 | 46,082 | 40,248 |
| Cash paid for income taxes, net of refunds | — | — | — | 120,748 | 49,508 | 13,731 |
| Net assets acquired due to acquisition | — | — | — | — | — | 10,552,000 |
| Income tax refunds, net of cash paid | (5,353) | (22,069) | (14,028) | — | — | — |
| Supplemental disclosure of non-cash investing activities: | ||||||
| Reverse mortgage loans held for investment acquired at fair value | 0 | 189,770 | — | — | — | — |
| HMBS-related borrowings assumed at fair value | 0 | (187,221) | — | — | — | — |
| Purchase price holdback | 0 | (549) | — | — | — | — |
| Net cash paid to acquire loans held for investment | 0 | 2,000 | — | — | — | — |
| Measurement period adjustment to goodwill | 0 | 758 | (1,710) | — | — | — |
As filed on EDGAR · Not affiliated with the U.S. SEC · Not investment advice. Each column links to its filing.