Quarterly report pursuant to Section 13 or 15(d)

ORGANIZATION AND BASIS OF PRESENTATION (Tables)

v3.21.2
ORGANIZATION AND BASIS OF PRESENTATION (Tables)
9 Months Ended
Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Assets Acquired and Liabilities Assumed The table below summarizes New Residential’s allocation of the total consideration paid to acquire the assets and assume the liabilities of Caliber (in millions):
Assets Acquired
Mortgage servicing rights, at fair value $ 1,507.5 
Residential mortgage loans, held-for-sale 7,685.7 
Residential mortgage loans subject to repurchase 666.8 
Cash and cash equivalents 472.7 
Restricted cash 30.6 
Servicer advances receivable 113.4 
Other assets 640.6 
Total Assets Acquired $ 11,117.3 
Liabilities Assumed
Secured financing agreements $ 7,090.6 
Secured notes and bonds payable 1,121.8 
Residential mortgage loan repurchase liability 666.8 
Accrued expenses and other liabilities 916.1 
Total Liabilities Assumed $ 9,795.3 
Net Assets $ 1,322.0 
Total Consideration $ 1,318.5 
Goodwill (Bargain Purchase Gain) $ (3.5)
Business Combination, Pro Forma Financial Information The following table presents unaudited pro forma combined revenues and income before income taxes for the three and nine months ended September 30, 2021 and 2020 prepared as if the Caliber acquisition had been consummated on January 1, 2020:
Three Months Ended
September 30,
Nine Months Ended
September 30,
Pro Forma 2021 2020 2021 2020
Revenues $ 1,285,690  $ 1,463,384  $ 4,257,458  $ 3,333,123 
Income Before Income Taxes 148,380  487,755  1,043,357  (874,436)
Schedule of Acquired Intangible Assets The following table presents the details of identifiable intangible assets acquired:
Estimated Useful Life Amount
Purchased technology 5 $ 38,545 
Trade names/trademarks 1 2,483 
Total identifiable intangible assets $ 41,028