Annual report pursuant to Section 13 and 15(d)

SUMMARY QUARTERLY CONSOLIDATED FINANCIAL INFORMATION (UNAUDITED) (Tables)

v3.19.3.a.u2
SUMMARY QUARTERLY CONSOLIDATED FINANCIAL INFORMATION (UNAUDITED) (Tables)
12 Months Ended
Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]  
Schedule of Quarterly Unaudited Summary Information

The following is an unaudited summary information on New Residential’s quarterly operations.
2019
Quarter Ended
 
Year Ended
December 31
 
March 31
 
June 30
 
September 30
 
December 31
 
Interest income
$
438,867

 
$
416,047

 
$
448,127

 
$
463,089

 
$
1,766,130

Interest expense
212,832

 
228,004

 
245,902

 
247,013

 
933,751

Net interest income
226,035

 
188,043

 
202,225

 
216,076

 
832,379

Impairment
 
 
 
 
 
 
 
 
 
Other-than-temporary impairment (OTTI) on securities
7,516

 
8,859

 
5,567

 
3,232

 
25,174

Valuation and loss provision (reversal) on loans and real estate owned
5,280

 
13,452

 
(10,690
)
 
2,361

 
10,403

 
12,796

 
22,311

 
(5,123
)
 
5,593

 
35,577

Net interest income after impairment
213,239

 
165,732

 
207,348

 
210,483

 
796,802

Servicing revenue, net
165,853

 
(85,537
)
 
53,050

 
251,793

 
385,159

Gain on originated mortgage loans, held-for-sale, net
67,170

 
101,018

 
126,747

 
180,520

 
475,455

Other income (loss)(A)
(63,966
)
 
(25,947
)
 
102,640

 
(53,826
)
 
(41,099
)
Operating Expenses
180,387

 
201,863

 
250,565

 
335,803

 
968,618

Income (Loss) Before Income Taxes
201,909

 
(46,597
)
 
239,220

 
253,167

 
647,699

Income tax (benefit) expense
45,997

 
(21,577
)
 
(5,440
)
 
22,786

 
41,766

Net Income (Loss)
$
155,912

 
$
(25,020
)
 
$
244,660

 
$
230,381

 
$
605,933

Noncontrolling Interests in Income of Consolidated Subsidiaries
$
10,318

 
$
6,923

 
$
14,738

 
$
10,658

 
$
42,637

Dividends on Preferred Stock
$

 
$

 
$
5,338

 
$
7,943

 
$
13,281

Net Income (Loss) Attributable to Common Stockholders
$
145,594

 
$
(31,943
)
 
$
224,584

 
$
211,780

 
$
550,015

Net Income (Loss) Per Share of Common Stock
 
 
 
 
 
 
 
 
 
Basic
$
0.37

 
$
(0.08
)
 
$
0.54

 
$
0.51

 
$
1.35

Diluted
$
0.37

 
$
(0.08
)
 
$
0.54

 
$
0.51

 
$
1.34

Weighted Average Number of Shares of Common Stock Outstanding
 
 
 
 
 
 
 
 
 
Basic
388,279,931

 
415,463,757

 
415,520,780

 
415,520,780

 
408,789,642

Diluted
388,601,075

 
415,665,460

 
415,588,238

 
415,673,185

 
408,990,107

Dividends Declared per Share of Common Stock
$
0.50

 
$
0.50

 
$
0.50

 
$
0.50

 
$
2.00

2018
Quarter Ended
 
Year Ended
December 31
 
March 31
 
June 30
 
September 30
 
December 31
 
Interest income
$
383,573

 
$
403,805

 
$
425,524

 
$
451,321

 
$
1,664,223

Interest expense
124,387

 
133,916

 
162,806

 
185,324

 
606,433

Net interest income
259,186

 
269,889

 
262,718

 
265,997

 
1,057,790

Impairment
 
 
 
 
 
 
 
 
 
Other-than-temporary impairment (OTTI) on securities
6,670

 
12,631

 
3,889

 
6,827

 
30,017

Valuation and loss provision (reversal) on loans and real estate owned
19,007

 
3,658

 
5,471

 
32,488

 
60,624

 
25,677

 
16,289

 
9,360

 
39,315

 
90,641

Net interest income after impairment
233,509

 
253,600

 
253,358

 
226,682

 
967,149

Servicing revenue, net
217,236

 
146,193

 
175,355

 
(10,189
)
 
528,595

Gain on originated mortgage loans, held-for-sale, net

 

 
47,054

 
49,091

 
96,145

Other income (loss)(A)
264,524

 
(96,812
)
 
(84,620
)
 
(134,477
)
 
(51,385
)
Operating Expenses
107,817

 
119,753

 
192,107

 
189,727

 
609,404

Income (Loss) Before Income Taxes
607,452

 
183,228

 
199,040

 
(58,620
)
 
931,100

Income tax (benefit) expense
(6,912
)
 
(2,608
)
 
3,563

 
(67,474
)
 
(73,431
)
Net Income
$
614,364

 
$
185,836

 
$
195,477

 
$
8,854

 
$
1,004,531

Noncontrolling Interests in Income of Consolidated Subsidiaries
$
10,111

 
$
11,078

 
$
10,869

 
$
8,506

 
$
40,564

Net Income Attributable to Common Stockholders
$
604,253

 
$
174,758

 
$
184,608

 
$
348

 
$
963,967

Net Income Per Share of Common Stock
 
 
 
 
 
 
 
 
 
Basic
$
1.83

 
$
0.52

 
$
0.54

 
$

 
$
2.82

Diluted
$
1.81

 
$
0.51

 
$
0.54

 
$

 
$
2.81

Weighted Average Number of Shares of Common Stock Outstanding
 
 
 
 
 
 
 
 
 
Basic
330,384,856

 
336,311,253

 
340,044,440

 
358,044,646

 
341,268,923

Diluted
333,380,436

 
339,538,503

 
340,868,403

 
358,509,094

 
343,137,361

Dividends Declared per Share of Common Stock
$
0.50

 
$
0.50

 
$
0.50

 
$
0.50

 
$
2.00

 
(A)
Earnings from investments in equity method investees is included in other income.