Quarterly report pursuant to Section 13 or 15(d)

SEGMENT REPORTING (Tables)

v3.10.0.1
SEGMENT REPORTING (Tables)
6 Months Ended
Jun. 30, 2018
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
 
MSRs
 
Servicer Advances
 
Real Estate Securities
 
Residential Mortgage Loans
 
Consumer Loans
 
Corporate
 
Total
Three Months Ended June 30, 2018
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest income
$
11,384

 
$
167,754

 
$
12,494

 
$
115,592

 
$
40,685

 
$
55,022

 
$
874

 
$
403,805

Interest expense
2,470

 
46,834

 
6,431

 
48,548

 
18,614

 
11,019

 

 
133,916

Net interest income (expense)
8,914

 
120,920

 
6,063

 
67,044

 
22,071

 
44,003

 
874

 
269,889

Impairment

 

 

 
12,631

 
(9,430
)
 
13,088

 

 
16,289

Servicing revenue, net

 
146,193

 

 

 

 

 

 
146,193

Other income (loss)
(2,973
)
 
(118,334
)
 
(1,633
)
 
16,783

 
5,727

 
4,478

 
(860
)
 
(96,812
)
Operating expenses
14

 
50,111

 
267

 
643

 
10,275

 
8,839

 
49,604

 
119,753

Income (Loss) Before Income Taxes
5,927

 
98,668

 
4,163

 
70,553

 
26,953

 
26,554

 
(49,590
)
 
183,228

Income tax expense (benefit)

 

 
203

 

 
(2,811
)
 

 

 
(2,608
)
Net Income (Loss)
$
5,927

 
$
98,668

 
$
3,960

 
$
70,553

 
$
29,764

 
$
26,554

 
$
(49,590
)
 
$
185,836

Noncontrolling interests in income (loss) of consolidated subsidiaries
$

 
$

 
$
1,056

 
$

 
$

 
$
10,022

 
$

 
$
11,078

Net income (loss) attributable to common stockholders
$
5,927

 
$
98,668

 
$
2,904

 
$
70,553

 
$
29,764

 
$
16,532

 
$
(49,590
)
 
$
174,758


 
Servicing Related Assets
 
Residential Securities and Loans
 
 
 
 
 
 
 
Excess MSRs
 
MSRs
 
Servicer Advances
 
Real Estate Securities
 
Residential Mortgage Loans
 
Consumer Loans
 
Corporate
 
Total
Six Months Ended June 30, 2018
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest income
$
20,743

 
$
334,272

 
$
31,385

 
$
216,725

 
$
75,077

 
$
107,670

 
$
1,506

 
$
787,378

Interest expense
6,959

 
90,945

 
12,861

 
90,078

 
34,925

 
22,535

 

 
258,303

Net interest income (expense)
13,784

 
243,327

 
18,524

 
126,647

 
40,152

 
85,135

 
1,506

 
529,075

Impairment

 

 

 
19,301

 
(4,247
)
 
26,912

 

 
41,966

Servicing revenue, net

 
363,429

 

 

 

 

 

 
363,429

Other income (loss)
(4,862
)
 
153,443

 
(8,210
)
 
27,352

 
(14,490
)
 
9,568

 
4,911

 
167,712

Operating expenses
75

 
102,389

 
411

 
940

 
19,222

 
18,276

 
86,257

 
227,570

Income (Loss) Before Income Taxes
8,847

 
657,810

 
9,903

 
133,758

 
10,687

 
49,515

 
(79,840
)
 
790,680

Income tax expense (benefit)

 
(6,729
)
 
(224
)
 

 
(2,811
)
 
244

 

 
(9,520
)
Net Income (Loss)
$
8,847

 
$
664,539

 
$
10,127

 
$
133,758

 
$
13,498

 
$
49,271

 
$
(79,840
)
 
$
800,200

Noncontrolling interests in income (loss) of consolidated subsidiaries
$

 
$

 
$
2,439

 
$

 
$

 
$
18,750

 
$

 
$
21,189

Net income (loss) attributable to common stockholders
$
8,847

 
$
664,539

 
$
7,688

 
$
133,758

 
$
13,498

 
$
30,521

 
$
(79,840
)
 
$
779,011

 
Servicing Related Assets
 
Residential Securities and Loans
 
 
 
 
 
 
 
Excess MSRs
 
MSRs
 
Servicer Advances
 
Real Estate Securities
 
Residential Mortgage Loans
 
Consumer Loans
 
Corporate
 
Total
June 30, 2018
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Investments
$
654,333

 
$
4,137,045

 
$
843,438

 
$
8,084,927

 
$
2,837,791

 
$
1,270,737

 
$

 
$
17,828,271

Cash and cash equivalents
489

 
120,857

 
32,154

 
4,885

 
10,403

 
17,283

 
7,165

 
193,236

Restricted cash
3,718

 
104,677

 
9,441

 

 

 
43,605

 

 
161,441

Other assets
3,617

 
3,306,219

 
3,749

 
1,211,807

 
116,590

 
39,167

 
79,634

 
4,760,783

Total assets
$
662,157

 
$
7,668,798

 
$
888,782

 
$
9,301,619

 
$
2,964,784

 
$
1,370,792

 
$
86,799

 
$
22,943,731

Debt
$
197,563

 
$
4,845,717

 
$
639,252

 
$
6,365,317

 
$
2,237,388

 
$
1,179,673

 
$

 
$
15,464,910

Other liabilities
1,140

 
208,277

 
(14,004
)
 
1,195,845

 
48,873

 
15,199

 
224,567

 
1,679,897

Total liabilities
198,703

 
5,053,994

 
625,248

 
7,561,162

 
2,286,261

 
1,194,872

 
224,567

 
17,144,807

Total equity
463,454

 
2,614,804

 
263,534

 
1,740,457

 
678,523

 
175,920

 
(137,768
)
 
5,798,924

Noncontrolling interests in equity of consolidated subsidiaries

 

 
58,286

 

 

 
31,845

 

 
90,131

Total New Residential stockholders’ equity
$
463,454

 
$
2,614,804

 
$
205,248

 
$
1,740,457

 
$
678,523

 
$
144,075

 
$
(137,768
)
 
$
5,708,793

Investments in equity method investees
$
159,034

 
$

 
$

 
$

 
$

 
$
57,820

 
$

 
$
216,854

 

Servicing Related Assets

Residential Securities and Loans







Excess MSRs

MSRs
 
Servicer Advances

Real Estate Securities

Residential Mortgage Loans

Consumer Loans

Corporate

Total
Three Months Ended June 30, 2017


 
 











Interest income
$
18,128


$
2,535

 
$
244,308


$
113,475


$
25,638


$
67,698


$
170


$
471,952

Interest expense
9,005


10,600

 
40,720


29,571


11,628


13,633




115,157

Net interest income (expense)
9,123


(8,065
)
 
203,588


83,904


14,010


54,065


170


356,795

Impairment



 


5,115


5,261


15,510




25,886

Servicing revenue, net

 
170,851

 

 

 

 

 

 
170,851

Other income (loss)
(14,219
)

5,596

 
54,774


(15,374
)

21,174


5,896




57,847

Operating expenses
112


59,318

 
605


297


8,406


11,544


59,078


139,360

Income (Loss) Before Income Taxes
(5,208
)
 
109,064

 
257,757

 
63,118

 
21,517

 
32,907

 
(58,908
)

420,247

Income tax expense (benefit)

 
(10,666
)
 
88,547

 

 
4,793

 
170

 


82,844

Net Income (Loss)
$
(5,208
)
 
$
119,730

 
$
169,210

 
$
63,118

 
$
16,724

 
$
32,737

 
$
(58,908
)

$
337,403

Noncontrolling interests in income (loss) of consolidated subsidiaries
$

 
$

 
$
3,328

 
$

 
$

 
$
12,343

 
$


$
15,671

Net income (loss) attributable to common stockholders
$
(5,208
)
 
$
119,730

 
$
165,882

 
$
63,118

 
$
16,724

 
$
20,394

 
$
(58,908
)

$
321,732



 
Servicing Related Assets
 
Residential Securities and Loans
 
 
 
 
 
 
 
Excess MSRs
 
MSRs
 
Servicer Advances
 
Real Estate Securities
 
Residential Mortgage Loans
 
Consumer Loans
 
Corporate
 
Total
Six Months Ended June 30, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest income
$
49,546

 
$
2,560

 
$
321,012

 
$
207,283

 
$
43,631

 
$
140,104

 
$
354

 
$
764,490

Interest expense
19,077

 
11,587

 
84,596

 
50,452

 
19,168

 
28,506

 

 
213,386

Net interest income (expense)
30,469

 
(9,027
)
 
236,416

 
156,831

 
24,463

 
111,598

 
354

 
551,104

Impairment

 

 

 
7,227

 
3,243

 
35,438

 

 
45,908

Servicing revenue, net

 
211,453

 

 

 

 

 

 
211,453

Other income (loss)
(13,015
)
 
5,809

 
56,575

 
(20,970
)
 
19,838

 
5,916

 

 
54,153

Operating expenses
198

 
79,041

 
1,429

 
628

 
14,259

 
22,982

 
89,264

 
207,801

Income (Loss) Before Income Taxes
17,256

 
129,194

 
291,562

 
128,006

 
26,799

 
59,094

 
(88,910
)
 
563,001

Income tax expense (benefit)

 
(11,945
)
 
97,739

 

 
2,476

 
170

 

 
88,440

Net Income (Loss)
$
17,256

 
$
141,139

 
$
193,823

 
$
128,006

 
$
24,323

 
$
58,924

 
$
(88,910
)
 
$
474,561

Noncontrolling interests in income (loss) of consolidated subsidiaries
$

 
$

 
$
9,148

 
$

 
$

 
$
22,303

 
$

 
$
31,451

Net income (loss) attributable to common stockholders
$
17,256

 
$
141,139

 
$
184,675

 
$
128,006

 
$
24,323

 
$
36,621

 
$
(88,910
)
 
$
443,110