The tracer Hat records in a detailed trace the computation of a program written in the lazy functional language Haskell. The trace can then be viewed in various ways to support program comprehension and debugging. The trace was named the augmented redex trail. Its structure was inspired by standard graph rewriting implementations of functional languages. Here we describe a model of the trace that captures its essential properties and allows formal reasoning. The trace is a graph constructed by graph rewriting but goes beyond simple term graphs. Although the trace is a graph whose structure is independent of any rewriting strategy, we define the trace inductively, thus giving us a powerful method for proving its properties.