Company: RWT-PA
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000930236-25-000007
Chunk: 120

Company: REDWOOD TRUST INC
Filing Date: 2025-03-03
Form: 10-K
Item: Item 16
Chunk 120
---
er network$56,300 $(37,635)$18,665 7Broker network18,100 (18,100)— 5Non-compete agreements11,400 (11,083)317 3Tradenames4,400 (4,333)67 3Developed technology1,800 (1,800)— 2Loan administration fees on existing loan assets2,600 (2,600)— 1Total$94,600 $(75,551)$19,049 6Intangible Assets at AcquisitionAccumulated Amortization at December 31, 2023Carrying Value at December 31, 2023Weighted Average Amortization Period (in years)(Dollars in Thousands)Borrower network$56,300 $(29,591)$26,709 7Broker network18,100 (17,497)603 5Non-compete agreements11,400 (10,450)950 3Tradenames4,400 (4,200)200 3Developed technology1,800 (1,800)— 2Loan administration fees on existing loan assets2,600 (2,600)— 1Total$94,600 $(66,138)$28,462 6All of our intangible assets are amortized on a straight-line basis. For the years ended December 31, 2024 and 2023, we recorded intangible asset amortization expense of $9 million and $12 million, respectively. Estimated future amortization expense is summarized in the table below.Table 14.4 – Intangible Asset Amortization Expense by Year(In Thousands)December 31, 20242025$8,426 20266,694 20271,571 20281,571 2029787 Total Future Intangible Asset Amortization$19,049 On at least an annual basis, we evaluate our finite-lived intangible assets for impairment indicators and additionally evaluate the useful lives of our intangible assets to determine if revisions to the remaining periods of amortization are warranted. We reviewed our finite-lived intangible assets and determined that the estimated lives were appropriate and that there were no indicators of impairment at December 31, 2024.

F- 56

REDWOOD TRUST, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS December 31, 2024Note 14. Other Assets and Liabilities