Quarterly report pursuant to Section 13 or 15(d)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

v3.5.0.2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
9 Months Ended
Sep. 30, 2016
Accounting Policies [Abstract]  
Schedule of useful lives of property, plant, and equipment
Depreciation is calculated using the straight-line method based on the following estimated useful lives:
Buildings and improvements
10-30 years
Capital leases - equipment
4-7 years
Furniture, fixtures and equipment
3-7 years
Schedule of certain assets and liabilities of Variable Interest Entities
The following table presents certain assets of consolidated VIEs which are included in the Consolidated Balance Sheets. The assets in the table below include only those assets that can be used to settle obligations of consolidated VIEs, and are equal to or in excess of those obligations. Additionally, the assets in the table below exclude intercompany balances that eliminate in consolidation.

 
September 30, 2016
 
 
 
(Unaudited)
 
December 31, 2015
Assets of consolidated VIEs that can only be used to settle obligations of consolidated VIEs
 
 
 
Real estate securities, available-for-sale
$

 
$
46,392

Subprime mortgage loans subject to call option
353,347

 
380,806

Restricted cash

 
128

Receivables and other assets

 
77

Total assets of consolidated VIEs that can only be used to settle obligations of consolidated VIEs
$
353,347

 
$
427,403

The following table presents certain liabilities of consolidated VIEs, which are included in the Consolidated Balance Sheets. The liabilities in the table below include third-party liabilities of consolidated VIEs due to third parties only, and exclude intercompany balances that eliminate in consolidation. The liabilities also exclude amounts where creditors or beneficial interest holders have recourse to the general credit of Newcastle.
 
September 30, 2016
 
 
 
(Unaudited)
 
December 31, 2015
Liabilities of consolidated VIEs for which creditors or beneficial interest holders do not have recourse to the general credit of Newcastle
 
 
 
CDO bonds payable
$

 
$
92,933

Other bonds and notes payable

 
4,672

Financing of subprime mortgage loans subject to call option
353,347

 
380,806

Accounts payable, accrued expenses and other liabilities

 
29

Total liabilities of consolidated VIEs for which creditors or beneficial interest holders do not have recourse to the general credit of Newcastle
$
353,347

 
$
478,440