Quarterly report pursuant to Section 13 or 15(d)

ORGANIZATION AND BASIS OF PRESENTATION (Tables)

v3.5.0.2
ORGANIZATION AND BASIS OF PRESENTATION (Tables)
9 Months Ended
Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Summary of Preliminary Purchase Price Allocation
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
$
1,934.7

Cash and cash equivalents
0.3

Restricted cash
74.6

Other assets
35.9

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 and nine months ended September 30, 2016 and 2015 prepared as if the SpringCastle Transaction had been consummated on January 1, 2015.
 
Three Months Ended September 30,
 
Nine Months Ended  
 September 30,
 
2016
 
2015
 
2016
 
2015
 
(unaudited)
 
(unaudited)
 
(unaudited)
 
(unaudited)
Pro Forma
 
 
 
 
 
 
 
Interest Income
$
282,388

 
$
276,720

 
$
836,814

 
$
739,490

Income Before Income Taxes
151,986

 
85,158

 
319,144

 
388,041

Noncontrolling Interests in Income of Consolidated Subsidiaries
32,178

 
27,523

 
79,944

 
77,870