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Equity - Basic and Diluted Earnings Per Common Share (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended
--- | --- | ---
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014
Equity [Abstract] |  |  |  |
Net income attributable to Redwood | $ 19,164 | $ 45,097 | $ 61,029 | $ 73,447
Less: Dividends and undistributed earnings allocated to participating securities | (553) | (1,054) | (1,928) | (1,819)
Net income allocated to common shareholders | $ 18,611 | $ 44,043 | $ 59,101 | $ 71,628
Basic weighted average common shares outstanding (shares) | 83,787,533 | 83,017,534 | 83,696,461 | 82,722,079
Basic earnings per common share (usd per share) | $ 0.22 | $ 0.53 | $ 0.71 | $ 0.87
Less: Dividends and undistributed earnings allocated to participating securities | $ (553) | $ (756) | $ (1,928) | $ (1,784)
Add back: Interest expense on convertible notes for the period, net of tax | 0 | 3,855 | 0 | 0
Net income allocated to common shareholders | $ 18,611 | $ 48,196 | $ 59,101 | $ 71,663
Net effect of dilutive equity awards (in shares) | 1,287,171 | 2,113,248 | 1,642,535 | 2,309,051
Net effect of assumed convertible notes conversion to common shares (in shares) | 0 | 11,825,450 | 0 | 0
Diluted weighted average common shares outstanding (shares) | 85,074,704 | 96,956,232 | 85,338,996 | 85,031,130
Diluted earnings per common share (usd per share) | $ 0.22 | $ 0.50 | $ 0.69 | $ 0.84

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