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Consolidated Statements Of Changes In Stockholders' Equity - USD ($) $ in Thousands | Total | Common Stock | Additional Paid-In Capital | Accumulated Other Comprehensive Income | Cumulative Earnings | Cumulative Distributions to Stockholders
--- | --- | --- | --- | --- | --- | ---
Increase (Decrease) in Stockholders' Equity |  |  |  |  |  |  |  |
Cumulative adjustment - adoption of ASU 2014-13 | Accounting Standards Update 2014-13 | [1] | $ 9,728 |  |  |  |  | $ 9,728 |
Adjusted balance |  | 1,265,869 |  | $ 834 | $ 1,774,030 | $ 140,688 | 916,595 | $ (1,566,278)
Beginning balance (in shares) at Dec. 31, 2014 |  |  |  | 83,443,141 |  |  |  |
Beginning balance at Dec. 31, 2014 |  | 1,256,141 |  | $ 834 | 1,774,030 | 140,688 | 906,867 | (1,566,278)
Increase (Decrease) in Stockholders' Equity |  |  |  |  |  |  |  |
Net income |  | 41,865 |  |  |  |  | 41,865 |
Other comprehensive income (loss) |  | 6 |  |  |  | 6 |  |
Issuance of common stock: |  |  |  |  |  |  |  |
Dividend reinvestment & stock purchase plans (in shares) |  |  |  | 418,508 |  |  |  |
Dividend reinvestment & stock purchase plans |  | 6,834 |  | $ 4 | 6,830 |  |  |
Employee stock purchase and incentive plans (in shares) |  |  |  | 690,683 |  |  |  |
Employee stock purchase and incentive plans |  | (7,715) |  | $ 8 | (7,723) |  |  |
Non-cash equity award compensation |  | 6,193 |  |  | 6,193 |  |  |
Common dividends declared |  | (48,268) |  |  |  |  |  | (48,268)
Ending balance (in shares) at Jun. 30, 2015 |  |  |  | 84,552,332 |  |  |  |
Ending balance at Jun. 30, 2015 |  | 1,264,784 |  | $ 846 | 1,779,330 | 140,694 | 958,460 | (1,614,546)
Increase (Decrease) in Stockholders' Equity |  |  |  |  |  |  |  |
Net income |  | 27,064 |  |  |  |  |  |
Other comprehensive income (loss) |  | 5,054 |  |  |  |  |  |
Ending balance (in shares) at Jun. 30, 2015 |  |  |  | 84,552,332 |  |  |  |
Ending balance at Jun. 30, 2015 |  | 1,264,784 |  | $ 846 | 1,779,330 | 140,694 | 958,460 | (1,614,546)
Beginning balance (in shares) (Previously Reported) at Dec. 31, 2015 |  |  |  | 78,162,765 |  |  |  |
Beginning balance (Previously Reported) at Dec. 31, 2015 |  | 1,146,265 |  | $ 782 | 1,695,956 | 91,993 | 1,018,683 | (1,661,149)
Beginning balance at Dec. 31, 2015 | [2] | 1,146,265 |  |  |  |  |  |
Increase (Decrease) in Stockholders' Equity |  |  |  |  |  |  |  |
Net income |  | 53,344 |  |  |  |  | 53,344 |
Other comprehensive income (loss) |  | (45,662) |  |  |  | (45,662) |  |
Issuance of common stock: |  |  |  |  |  |  |  |
Employee stock purchase and incentive plans (in shares) |  |  |  | 431,156 |  |  |  |
Employee stock purchase and incentive plans |  | (4,245) |  | $ 4 | (4,249) |  |  |
Non-cash equity award compensation |  | $ 8,488 |  |  | 8,488 |  |  |
Share repurchases (in shares) |  | (819,738) |  | (1,658,868) |  |  |  |
Share repurchases |  | $ (21,284) |  | $ (17) | (21,267) |  |  |
Common dividends declared |  | (44,303) |  |  |  |  |  | (44,303)
Ending balance (in shares) at Jun. 30, 2016 |  |  |  | 76,935,053 |  |  |  |
Ending balance at Jun. 30, 2016 |  | 1,092,603 | [2] | $ 769 | 1,678,928 | 46,331 | 1,072,027 | (1,705,452)
Increase (Decrease) in Stockholders' Equity |  |  |  |  |  |  |  |
Net income |  | 41,281 |  |  |  |  |  |
Other comprehensive income (loss) |  | (10,381) |  |  |  |  |  |
Ending balance (in shares) at Jun. 30, 2016 |  |  |  | 76,935,053 |  |  |  |
Ending balance at Jun. 30, 2016 |  | $ 1,092,603 | [2] | $ 769 | $ 1,678,928 | $ 46,331 | $ 1,072,027 | $ (1,705,452)
[1] | On January 1, 2015, we adopted ASU 2014-13, "Measuring the Financial Assets and the Financial Liabilities of a Consolidated Collateralized Financing Entity," and recorded this cumulative-effect adjustment, which represents the net effect of adjusting the assets and liabilities of the consolidated Sequoia collateralized financing entities ("CFEs") from amortized historical cost to fair value.
[2] | Our consolidated balance sheets include assets of consolidated variable interest entities (“VIEs”) that can only be used to settle obligations of these VIEs and liabilities of consolidated VIEs for which creditors do not have recourse to Redwood Trust, Inc. or its affiliates. At June 30, 2016 and December 31, 2015, assets of consolidated VIEs totaled $888,026 and $1,195,574, respectively. At June 30, 2016 and December 31, 2015, liabilities of consolidated VIEs totaled $860,256 and $1,050,861, respectively. See Note 4 for further discussion.

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