Quarterly report pursuant to Section 13 or 15(d)

ORGANIZATION AND BASIS OF PRESENTATION (Tables)

v3.4.0.3
ORGANIZATION AND BASIS OF PRESENTATION (Tables)
3 Months Ended
Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Summary of Preliminary Purchase Price Allocation
New Residential has performed a preliminary allocation of the purchase price to the Consumer Loans Companies’ assets and liabilities, as set forth below. The final allocation of purchase price may differ from the amounts included herein. The preliminary allocation of the total consideration, following reclassifications to conform to New Residential’s presentation, is as follows:
Total Consideration ($ in millions)
$
237.5

Assets
 
Consumer loans, held-for-investment
$
1,970.6

Cash and cash equivalents
0.3

Restricted cash
74.6

Total Assets Acquired
$
2,045.5

 
 
Liabilities
 
Notes and bonds payable
1,803.2

Accrued expenses and other liabilities
4.8

Total Liabilities Assumed
$
1,808.0

 
 
Net Assets
$
237.5

Summary of Unaudited Pro Forma Combined Interest Income and Income (Loss) Before Income Taxes
The following table presents New Residential’s unaudited pro forma combined Interest Income and Income Before Income Taxes for the three months ended March 31, 2016 and 2015 prepared as if the SpringCastle Transaction had been consummated on January 1, 2015.
 
Three Months Ended 
 March 31,
 
2016
 
2015
 
(unaudited)
 
(unaudited)
Pro Forma
 
 
 
Interest Income
$
238,464

 
$
148,263

Income Before Income Taxes
55,294

 
136,837

Noncontrolling Interests in Income of Consolidated Subsidiaries
17,834

 
24,040