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Equity (Tables) | 12 Months Ended
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Dec. 31, 2015
Equity [Abstract] |
Changes to Accumulated Other Comprehensive Income (Loss) by Component | The following table provides a summary of changes in accumulated other comprehensive income by component for the years ended December 31, 2015 and 2014. Table 16.1 – Changes in Accumulated Other Comprehensive Income by Component
|  | Years Ended December 31,
|  | 2015 |  | 2014
(In Thousands) |  | Net Unrealized Gains on Available-for-Sale Securities |  | Net Unrealized Losses on Interest Rate Agreements Accounted for as Cash Flow Hedges |  | Net Unrealized Gains on Available-for-Sale Securities |  | Net Unrealized Losses on Interest Rate Agreements Accounted for as Cash Flow Hedges
Balance at beginning of period |  | $ | 186,737 |  |  | $ | (46,049 | ) |  | $ | 164,654 |  |  | $ | (15,888 | )
Other comprehensive income (loss) before reclassifications |  | (17,955 | ) |  | (1,409 | ) |  | 32,635 |  |  | (30,325 | )
Amounts reclassified from other accumulated comprehensive income |  | (29,426 | ) |  | 95 |  |  | (10,552 | ) |  | 164 |
Net current-period other comprehensive income (loss) |  | (47,381 | ) |  | (1,314 | ) |  | 22,083 |  |  | (30,161 | )
Balance at End of Period |  | $ | 139,356 |  |  | $ | (47,363 | ) |  | $ | 186,737 |  |  | $ | (46,049 | )
Reclassifications out of Accumulated Other Comprehensive Income (Loss) | The following table provides a summary of reclassifications out of accumulated other comprehensive income for the years ended December 31, 2015 and 2014. Table 16.2 – Reclassifications Out of Accumulated Other Comprehensive Income
|  |  |  | Amount Reclassified From Accumulated Other Comprehensive Income
|  | Affected Line Item in the |  | Years Ended December 31,
(In Thousands) |  | Income Statement |  | 2015 |  | 2014
Net realized (gain) loss on AFS securities |  |  |  |  |  |
Other than temporary impairment (1) |  | Mortgage banking and investment activities, net |  | $ | 246 |  |  | $ | 565 |
Gain on sale of AFS securities |  | Realized gains, net |  | (29,672 | ) |  | (11,117 | )
|  |  |  | $ | (29,426 | ) |  | $ | (10,552 | )
Net realized loss on interest rate agreements designated as cash flow hedges |  |  |  |  |  |
Amortization of deferred loss |  | Interest expense |  | $ | 95 |  |  | $ | 164 |
|  |  |  | $ | 95 |  |  | $ | 164 |
(1) | For the year ended December 31, 2015, other-than-temporary impairments were $419, of which $246 were recognized through the Income Statement and $173 were recognized in Accumulated Other Comprehensive Income. For the year ended December 31, 2014, other-than-temporary impairments were $4,774, of which $565 were recognized through the Income Statement, and $4,209 were recognized in Accumulated Other Comprehensive Income.
Basic and Diluted Earnings (Loss) Per Common Share | The following table provides the basic and diluted earnings per common share computations for the years ended December 31, 2015, 2014, and 2013. Table 16.3 – Basic and Diluted Earnings Per Common Share
|  | Years Ended December 31,
(In Thousands, Except Share Data) |  | 2015 |  | 2014 |  | 2013
Basic Earnings Per Common Share: |  |  |  |  |  |
Net income attributable to Redwood |  | $ | 102,088 |  |  | $ | 100,569 |  |  | $ | 173,246 |
Less: Dividends and undistributed earnings allocated to participating securities |  | (2,806 | ) |  | (2,612 | ) |  | (4,899 | )
Net income allocated to common shareholders |  | $ | 99,282 |  |  | $ | 97,957 |  |  | $ | 168,347 |
Basic weighted average common shares outstanding |  | 82,945,103 |  |  | 82,837,369 |  |  | 81,985,897 |
Basic Earnings Per Common Share |  | $ | 1.20 |  |  | $ | 1.18 |  |  | $ | 2.05 |
Diluted Earnings Per Common Share: |  |  |  |  |  |
Net income attributable to Redwood |  | $ | 102,088 |  |  | $ | 100,569 |  |  | $ | 173,246 |
Less: Dividends and undistributed earnings allocated to participating securities |  | (2,677 | ) |  | (2,524 | ) |  | (3,726 | )
Add back: Interest expense on convertible notes for the period, net of tax |  | — |  |  | — |  |  | 12,641 |
Net income allocated to common shareholders |  | $ | 99,411 |  |  | $ | 98,045 |  |  | $ | 182,161 |
Weighted average common shares outstanding |  | 82,945,103 |  |  | 82,837,369 |  |  | 81,985,897 |
Net effect of dilutive equity awards |  | 1,573,292 |  |  | 2,261,210 |  |  | 1,957,081 |
Net effect of assumed convertible notes conversion to common shares |  | — |  |  | — |  |  | 9,751,946 |
Diluted weighted average common shares outstanding |  | 84,518,395 |  |  | 85,098,579 |  |  | 93,694,924 |
Diluted Earnings Per Common Share |  | $ | 1.18 |  |  | $ | 1.15 |  |  | $ | 1.94 |

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