Quarterly report pursuant to Section 13 or 15(d)

SEGMENT REPORTING (Tables)

v3.2.0.727
SEGMENT REPORTING (Tables)
6 Months Ended
Jun. 30, 2015
Segment Reporting [Abstract]  
Summary of Segment Financial Data
Summary financial data on New Residential’s segments is given below, together with a reconciliation to the same data for New Residential as a whole:
 
Servicing Related Assets
 
Residential Securities and Loans
 
 
 
 
 
 
 
Excess MSRs
 
Servicer Advances
 
Real Estate Securities
 
Real Estate Loans
 
Consumer Loans
 
Corporate
 
Total
Three Months Ended June 30, 2015
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest income
$
34,359

 
$
108,588

 
$
23,454

 
$
10,795

 
$

 
$
981

 
$
178,177

Interest expense

 
63,450

 
3,540

 
5,185

 
524

 
9,172

 
81,871

Net interest income (expense)
34,359

 
45,138

 
19,914

 
5,610

 
(524
)
 
(8,191
)
 
96,306

Impairment

 

 
650

 
4,771

 

 

 
5,421

Other income
4,298

 
24,115

 
(4,211
)
 
7,817

 
8,510

 
(2,879
)
 
37,650

Operating expenses
260

 
1,688

 
105

 
5,610

 
54

 
27,235

 
34,952

Income (Loss) Before Income Taxes
38,397

 
67,565

 
14,948

 
3,046

 
7,932

 
(38,305
)
 
93,583

Income tax expense (benefit)

 
15,657

 

 
(1,351
)
 

 

 
14,306

Net Income (Loss)
$
38,397

 
$
51,908

 
$
14,948

 
$
4,397

 
$
7,932

 
$
(38,305
)
 
$
79,277

Noncontrolling interests in income (loss) of consolidated subsidiaries
$

 
$
9,279

 
$

 
$

 
$

 
$
(5,121
)
 
$
4,158

Net income (loss) attributable to common stockholders
$
38,397

 
$
42,629

 
$
14,948

 
$
4,397

 
$
7,932

 
$
(33,184
)
 
$
75,119


 
Servicing Related Assets
 
Residential Securities and Loans
 
 
 
 
 
 
 
Excess MSRs
 
Servicer Advances
 
Real Estate Securities
 
Real Estate Loans
 
Consumer Loans
 
Corporate
 
Total
Six Months Ended June 30, 2015
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest income
$
49,397

 
$
150,937

 
$
37,715

 
$
23,520

 
$

 
$
981

 
$
262,550

Interest expense

 
87,086

 
7,021

 
11,278

 
524

 
9,941

 
115,850

Net interest income (expense)
49,397

 
63,851

 
30,694

 
12,242

 
(524
)
 
(8,960
)
 
146,700

Impairment

 

 
1,720

 
5,749

 

 

 
7,469

Other income
8,188

 
13,389

 
(9,302
)
 
21,592

 
18,957

 
(2,879
)
 
49,945

Operating expenses
349

 
2,263

 
3

 
11,712

 
111

 
42,784

 
57,222

Income (Loss) Before Income Taxes
57,236

 
74,977

 
19,669

 
16,373

 
18,322

 
(54,623
)
 
131,954

Income tax expense (benefit)

 
12,417

 

 
(1,538
)
 

 

 
10,879

Net Income (Loss)
$
57,236

 
$
62,560

 
$
19,669

 
$
17,911

 
$
18,322

 
$
(54,623
)
 
$
121,075

Noncontrolling interests in income (loss) of consolidated subsidiaries
$

 
$
15,102

 
$

 
$

 
$

 
$
(5,121
)
 
$
9,981

Net income (loss) attributable to common stockholders
$
57,236

 
$
47,458

 
$
19,669

 
$
17,911

 
$
18,322

 
$
(49,502
)
 
$
111,094


 
Servicing Related Assets
 
Residential Securities and Loans
 
 
 
 
 
 
 
Excess MSRs
 
Servicer Advances
 
Real Estate Securities
 
Real Estate Loans
 
Consumer Loans
 
Corporate
 
Total
June 30, 2015
 
 
 
 
 
 
 
 
 
 
 
 
 
Investments
$
1,720,534

 
$
8,182,400

 
$
1,907,961

 
$
591,086

 
$

 
$

 
$
12,401,981

Cash and cash equivalents
3,900

 
95,899

 
16,516

 
6,689

 
2,665

 
306,338

 
432,007

Restricted cash
90

 
131,368

 

 
3,184

 

 
93

 
134,735

Derivative assets

 
1,701

 

 

 

 

 
1,701

Other assets
1,470

 
174,115

 
1,048,521

 
109,468

 
1,102

 
89,698

 
1,424,374

Total assets
$
1,725,994

 
$
8,585,483

 
$
2,972,998

 
$
710,427

 
$
3,767

 
$
396,129

 
$
14,394,798

Debt
$

 
$
7,667,067

 
$
1,831,989

 
$
552,229

 
$
42,832

 
$
193,561

 
$
10,287,678

Other liabilities
218

 
48,859

 
771,769

 
23,804

 
595

 
166,793

 
1,012,038

Total liabilities
218

 
7,715,926

 
2,603,758

 
576,033

 
43,427

 
360,354

 
11,299,716

Total equity
1,725,776

 
869,557

 
369,240

 
134,394

 
(39,660
)
 
35,775

 
3,095,082

Noncontrolling interests in equity of consolidated subsidiaries

 
231,652

 

 

 

 

 
231,652

Total New Residential stockholders’ equity
$
1,725,776

 
$
637,905

 
$
369,240

 
$
134,394

 
$
(39,660
)
 
$
35,775

 
$
2,863,430

Investments in equity method investees
$
216,112

 
$

 
$

 
$

 
$

 
$

 
$
216,112

 

Servicing Related Assets

Residential Securities and Loans







Excess MSRs

Servicer Advances

Real Estate Securities

Real Estate Loans

Consumer Loans

Corporate

Total
Three Months Ended June 30, 2014













Interest income
$
10,973


$
57,107


$
19,522


$
5,054


$


$


$
92,656

Interest expense


29,772


3,512


1,191


1,538


499


36,512

Net interest income (expense)
10,973


27,335


16,010


3,863


(1,538
)

(499
)

56,144

Impairment




615


293






908

Other income
18,245


82,709


53,413


2,187


21,335




177,889

Operating expenses
320


769


571


887


90


26,885


29,522

Income (Loss) Before Income Taxes
28,898

 
109,275

 
68,237

 
4,870

 
19,707

 
(27,384
)

203,603

Income tax expense (benefit)

 
21,395

 

 

 

 


21,395

Net Income (Loss)
$
28,898

 
$
87,880

 
$
68,237

 
$
4,870

 
$
19,707

 
$
(27,384
)

$
182,208

Noncontrolling interests in income (loss) of consolidated subsidiaries
$

 
$
58,705

 
$

 
$

 
$

 
$


$
58,705

Net income (loss) attributable to common stockholders
$
28,898

 
$
29,175

 
$
68,237

 
$
4,870

 
$
19,707

 
$
(27,384
)

$
123,503


 
Servicing Related Assets
 
Residential Securities and Loans
 
 
 
 
 
 
 
Excess MSRs
 
Servicer Advances
 
Real Estate Securities
 
Real Estate Loans
 
Consumer Loans
 
Corporate
 
Total
Six Months Ended June 30, 2014
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest income
$
24,789

 
$
102,823

 
$
30,760

 
$
5,774

 
$

 
$

 
$
164,146

Interest expense
1,291

 
61,728

 
7,581

 
1,389

 
3,021

 
499

 
75,509

Net interest income (expense)
23,498

 
41,095

 
23,179

 
4,385

 
(3,021
)
 
(499
)
 
88,637

Impairment

 

 
943

 
457

 

 

 
1,400

Other income
31,221

 
82,709

 
58,455

 
2,858

 
37,695

 
1

 
212,939

Operating expenses
385

 
1,019

 
631

 
977

 
113

 
36,296

 
39,421

Income (Loss) Before Income Taxes
54,334

 
122,785

 
80,060

 
5,809

 
34,561

 
(36,794
)
 
260,755

Income tax expense (benefit)

 
21,682

 

 

 

 

 
21,682

Net Income (Loss)
$
54,334

 
$
101,103

 
$
80,060

 
$
5,809

 
$
34,561

 
$
(36,794
)
 
$
239,073

Noncontrolling interests in income (loss) of consolidated subsidiaries
$

 
$
66,798

 
$

 
$

 
$

 
$

 
$
66,798

Net income (loss) attributable to common stockholders
$
54,334

 
$
34,305

 
$
80,060

 
$
5,809

 
$
34,561

 
$
(36,794
)
 
$
172,275