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Equity - Basic and Diluted Earnings Per Common Share (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended
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Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014
Equity [Abstract] |  |  |  |
Net income attributable to Redwood | $ 27,064 | $ 16,017 | $ 41,865 | $ 28,350
Less: Dividends and undistributed earnings allocated to participating securities | (642) | (537) | (1,375) | (1,239)
Net income allocated to common shareholders | $ 26,422 | $ 15,480 | $ 40,490 | $ 27,111
Basic weighted average common shares outstanding (shares) | 83,936,844 | 82,740,012 | 83,650,170 | 82,575,636
Basic earnings per common share (usd per share) | $ 0.31 | $ 0.19 | $ 0.48 | $ 0.33
Less: Dividends and undistributed earnings allocated to participating securities | $ (619) | $ (537) | $ (1,375) | $ (1,239)
Add back: Interest expense on convertible notes for the period, net of tax | 2,789 | 0 | 0 | 0
Net income allocated to common shareholders | $ 29,234 | $ 15,480 | $ 40,490 | $ 27,111
Net effect of dilutive equity awards (in shares) | 1,546,038 | 2,292,986 | 1,823,735 | 2,418,685
Net effect of assumed convertible notes conversion to common shares (in shares) | 9,466,859 | 0 | 0 | 0
Diluted weighted average common shares outstanding (shares) | 94,949,741 | 85,032,998 | 85,473,905 | 84,994,321
Diluted earnings per common share (usd per share) | $ 0.31 | $ 0.18 | $ 0.47 | $ 0.32

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