Schedule of Segment Reporting |
Summary financial data on Newcastle’s segments is given below, together with reconciliation to the same data for Newcastle as a whole:
|
|
Non-Recourse CDOs (A)
|
|
|
Unlevered CDOs (B)
|
|
|
Unlevered Excess MSRs
|
|
|
Non-Recourse Senior Living
|
|
|
Non-Recourse Other (A)(C)
|
|
|
Recourse (D)
|
|
|
Unlevered Other (E)
|
|
|
Corporate
|
|
|
Inter-segment Elimination (F)
|
|
|
Total
|
|
Year Ended December 31, 2012
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest income
|
|
$ |
196,517 |
|
|
$ |
490 |
|
|
$ |
27,508 |
|
|
$ |
- |
|
|
$ |
72,343 |
|
|
$ |
8,984 |
|
|
$ |
10,491 |
|
|
$ |
170 |
|
|
$ |
(6,044 |
) |
|
$ |
310,459 |
|
Interest expense
|
|
|
56,607 |
|
|
|
- |
|
|
|
- |
|
|
|
1,688 |
|
|
|
51,278 |
|
|
|
2,582 |
|
|
|
- |
|
|
|
3,813 |
|
|
|
(6,044 |
) |
|
|
109,924 |
|
Net interest income (expense)
|
|
|
139,910 |
|
|
|
490 |
|
|
|
27,508 |
|
|
|
(1,688 |
) |
|
|
21,065 |
|
|
|
6,402 |
|
|
|
10,491 |
|
|
|
(3,643 |
) |
|
|
- |
|
|
|
200,535 |
|
Impairment (reversal)
|
|
|
(7,381 |
) |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
4,119 |
|
|
|
- |
|
|
|
(2,402 |
) |
|
|
- |
|
|
|
- |
|
|
|
(5,664 |
) |
Other revenues
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
18,026 |
|
|
|
2,049 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
20,075 |
|
Other income (loss)
|
|
|
259,688 |
|
|
|
337 |
|
|
|
17,423 |
|
|
|
(82 |
) |
|
|
930 |
|
|
|
- |
|
|
|
1,421 |
|
|
|
- |
|
|
|
- |
|
|
|
279,717 |
|
Property operating expenses
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
11,539 |
|
|
|
1,404 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
12,943 |
|
Depreciation and amortization
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
5,784 |
|
|
|
1,191 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
6,975 |
|
Other operating expenses
|
|
|
915 |
|
|
|
1 |
|
|
|
5,695 |
|
|
|
6,846 |
|
|
|
3,314 |
|
|
|
- |
|
|
|
45 |
|
|
|
35,079 |
|
|
|
- |
|
|
|
51,895 |
|
Income (loss) from continuing operations
|
|
|
406,064 |
|
|
|
826 |
|
|
|
39,236 |
|
|
|
(7,913 |
) |
|
|
14,016 |
|
|
|
6,402 |
|
|
|
14,269 |
|
|
|
(38,722 |
) |
|
|
- |
|
|
|
434,178 |
|
Income (loss) from discontinued operations
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
(68 |
) |
|
|
- |
|
|
|
- |
|
|
|
(68 |
) |
Net income (loss)
|
|
|
406,064 |
|
|
|
826 |
|
|
|
39,236 |
|
|
|
(7,913 |
) |
|
|
14,016 |
|
|
|
6,402 |
|
|
|
14,201 |
|
|
|
(38,722 |
) |
|
|
- |
|
|
|
434,110 |
|
Preferred dividends
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
(5,580 |
) |
|
|
- |
|
|
|
(5,580 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (loss) applicable to common stockholders
|
|
$ |
406,064 |
|
|
$ |
826 |
|
|
$ |
39,236 |
|
|
$ |
(7,913 |
) |
|
$ |
14,016 |
|
|
$ |
6,402 |
|
|
$ |
14,201 |
|
|
$ |
(44,302 |
) |
|
$ |
- |
|
|
$ |
428,530 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2012
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investments
|
|
$ |
1,411,731 |
|
|
$ |
5,998 |
|
|
$ |
245,036 |
|
|
$ |
181,887 |
|
|
$ |
755,421 |
|
|
$ |
1,049,029 |
|
|
$ |
107,189 |
|
|
$ |
- |
|
|
$ |
(62,336 |
) |
|
$ |
3,693,955 |
|
Cash and restricted cash
|
|
|
2,064 |
|
|
|
- |
|
|
|
- |
|
|
|
9,720 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
222,178 |
|
|
|
- |
|
|
|
233,962 |
|
Derivative assets
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
165 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
165 |
|
Other assets
|
|
|
7,422 |
|
|
|
7 |
|
|
|
33 |
|
|
|
4,946 |
|
|
|
113 |
|
|
|
2,740 |
|
|
|
1,924 |
|
|
|
202 |
|
|
|
(157 |
) |
|
|
17,230 |
|
Total assets
|
|
|
1,421,217 |
|
|
|
6,005 |
|
|
|
245,069 |
|
|
|
196,718 |
|
|
|
755,534 |
|
|
|
1,051,769 |
|
|
|
109,113 |
|
|
|
222,380 |
|
|
|
(62,493 |
) |
|
|
3,945,312 |
|
Debt
|
|
|
(1,095,598 |
) |
|
|
- |
|
|
|
- |
|
|
|
(120,525 |
) |
|
|
(651,540 |
) |
|
|
(925,191 |
) |
|
|
- |
|
|
|
(51,243 |
) |
|
|
62,336 |
|
|
|
(2,781,761 |
) |
Derivative liabilities
|
|
|
(31,576 |
) |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
(31,576 |
) |
Other liabilities
|
|
|
(5,681 |
) |
|
|
- |
|
|
|
(406 |
) |
|
|
(5,084 |
) |
|
|
(2,684 |
) |
|
|
(171 |
) |
|
|
(77 |
) |
|
|
(44,969 |
) |
|
|
157 |
|
|
|
(58,915 |
) |
Total liabilities
|
|
|
(1,132,855 |
) |
|
|
- |
|
|
|
(406 |
) |
|
|
(125,609 |
) |
|
|
(654,224 |
) |
|
|
(925,362 |
) |
|
|
(77 |
) |
|
|
(96,212 |
) |
|
|
62,493 |
|
|
|
(2,872,252 |
) |
Preferred stock
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
(61,583 |
) |
|
|
- |
|
|
|
(61,583 |
) |
GAAP book value
|
|
$ |
288,362 |
|
|
$ |
6,005 |
|
|
$ |
244,663 |
|
|
$ |
71,109 |
|
|
$ |
101,310 |
|
|
$ |
126,407 |
|
|
$ |
109,036 |
|
|
$ |
64,585 |
|
|
$ |
- |
|
|
$ |
1,011,477 |
|
|
|
Non-Recourse CDOs (A)
|
|
|
Unlevered CDOs (B)
|
|
|
Unlevered Excess MSRs
|
|
|
Non-Recourse
Senior Living
|
|
|
Non-Recourse Other (A)(C)
|
|
|
Recourse (D)
|
|
|
Unlevered Other (E)
|
|
|
Corporate
|
|
|
Inter-segment Elimination (F)
|
|
|
Total
|
|
Year Ended December 31, 2011
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest income
|
|
$ |
218,131 |
|
|
$ |
344 |
|
|
$ |
1,260 |
|
|
$ |
- |
|
|
$ |
73,364 |
|
|
$ |
2,234 |
|
|
$ |
2,636 |
|
|
$ |
167 |
|
|
$ |
(5,840 |
) |
|
$ |
292,296 |
|
Interest expense
|
|
|
86,110 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
53,252 |
|
|
|
693 |
|
|
|
5 |
|
|
|
3,815 |
|
|
|
(5,840 |
) |
|
|
138,035 |
|
Net interest income (expense)
|
|
|
132,021 |
|
|
|
344 |
|
|
|
1,260 |
|
|
|
- |
|
|
|
20,112 |
|
|
|
1,541 |
|
|
|
2,631 |
|
|
|
(3,648 |
) |
|
|
- |
|
|
|
154,261 |
|
Impairment (reversal)
|
|
|
(3,876 |
) |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
8,469 |
|
|
|
- |
|
|
|
(3,483 |
) |
|
|
- |
|
|
|
- |
|
|
|
1,110 |
|
Other revenues
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
1,899 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
1,899 |
|
Other income (loss)
|
|
|
171,963 |
|
|
|
3,739 |
|
|
|
367 |
|
|
|
- |
|
|
|
2,561 |
|
|
|
- |
|
|
|
2,232 |
|
|
|
- |
|
|
|
- |
|
|
|
180,862 |
|
Property operating expenses
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
1,110 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
1,110 |
|
Depreciation and amortization
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
12 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
12 |
|
Other operating expenses
|
|
|
1,058 |
|
|
|
- |
|
|
|
1,055 |
|
|
|
- |
|
|
|
3,603 |
|
|
|
- |
|
|
|
19 |
|
|
|
24,525 |
|
|
|
- |
|
|
|
30,260 |
|
Income (loss) from continuing operations
|
|
|
306,802 |
|
|
|
4,083 |
|
|
|
572 |
|
|
|
- |
|
|
|
11,378 |
|
|
|
1,541 |
|
|
|
8,327 |
|
|
|
(28,173 |
) |
|
|
- |
|
|
|
304,530 |
|
Income (loss) from discontinued operations
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
46 |
|
|
|
- |
|
|
|
(57 |
) |
|
|
- |
|
|
|
- |
|
|
|
(11 |
) |
Net income (loss)
|
|
|
306,802 |
|
|
|
4,083 |
|
|
|
572 |
|
|
|
- |
|
|
|
11,424 |
|
|
|
1,541 |
|
|
|
8,270 |
|
|
|
(28,173 |
) |
|
|
- |
|
|
|
304,519 |
|
Preferred dividends
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
(5,580 |
) |
|
|
- |
|
|
|
(5,580 |
) |
Income (loss) applicable to common stockholders
|
|
$ |
306,802 |
|
|
$ |
4,083 |
|
|
$ |
572 |
|
|
$ |
- |
|
|
$ |
11,424 |
|
|
$ |
1,541 |
|
|
$ |
8,270 |
|
|
$ |
(33,753 |
) |
|
$ |
- |
|
|
$ |
298,939 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2011
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investments
|
|
$ |
2,408,252 |
|
|
$ |
3,940 |
|
|
$ |
43,971 |
|
|
$ |
- |
|
|
$ |
783,777 |
|
|
$ |
244,916 |
|
|
$ |
18,751 |
|
|
$ |
- |
|
|
$ |
(143,018 |
) |
|
$ |
3,360,589 |
|
Cash and restricted cash
|
|
|
105,040 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
9 |
|
|
|
157,347 |
|
|
|
- |
|
|
|
262,396 |
|
Derivative assets
|
|
|
1,954 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
1,954 |
|
Other assets
|
|
|
23,203 |
|
|
|
8 |
|
|
|
- |
|
|
|
- |
|
|
|
116 |
|
|
|
593 |
|
|
|
2,085 |
|
|
|
1,208 |
|
|
|
(353 |
) |
|
|
26,860 |
|
Total assets
|
|
|
2,538,449 |
|
|
|
3,948 |
|
|
|
43,971 |
|
|
|
- |
|
|
|
783,893 |
|
|
|
245,509 |
|
|
|
20,845 |
|
|
|
158,555 |
|
|
|
(143,371 |
) |
|
|
3,651,799 |
|
Debt
|
|
|
(2,410,151 |
) |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
(748,118 |
) |
|
|
(233,194 |
) |
|
|
- |
|
|
|
(51,248 |
) |
|
|
143,018 |
|
|
|
(3,299,693 |
) |
Derivative liabilities
|
|
|
(119,320 |
) |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
(119,320 |
) |
Other liabilities
|
|
|
(12,705 |
) |
|
|
- |
|
|
|
(4,186 |
) |
|
|
- |
|
|
|
(3,407 |
) |
|
|
(23 |
) |
|
|
(49 |
) |
|
|
(20,680 |
) |
|
|
353 |
|
|
|
(40,697 |
) |
Total liabilities
|
|
|
(2,542,176 |
) |
|
|
- |
|
|
|
(4,186 |
) |
|
|
- |
|
|
|
(751,525 |
) |
|
|
(233,217 |
) |
|
|
(49 |
) |
|
|
(71,928 |
) |
|
|
143,371 |
|
|
|
(3,459,710 |
) |
Preferred stock
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
(61,583 |
) |
|
|
- |
|
|
|
(61,583 |
) |
GAAP book value
|
|
$ |
(3,727 |
) |
|
$ |
3,948 |
|
|
$ |
39,785 |
|
|
$ |
- |
|
|
$ |
32,368 |
|
|
$ |
12,292 |
|
|
$ |
20,796 |
|
|
$ |
25,044 |
|
|
$ |
- |
|
|
$ |
130,506 |
|
|
|
Non-Recourse CDOs (A)
|
|
|
Unlevered CDOs (B)
|
|
|
Unlevered
Excess MSRs
|
|
|
Non-Recourse
Senior Living
|
|
|
Non-Recourse Other (A)(C)
|
|
|
Recourse
|
|
|
Unlevered Other (E)
|
|
|
Corporate
|
|
|
Inter-segment Elimination (F)
|
|
|
Total
|
|
Year Ended December 31, 2010
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest income
|
|
$ |
226,717 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
72,773 |
|
|
$ |
976 |
|
|
$ |
1,653 |
|
|
$ |
68 |
|
|
$ |
(1,915 |
) |
|
$ |
300,272 |
|
Interest expense
|
|
|
108,437 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
60,705 |
|
|
|
656 |
|
|
|
356 |
|
|
|
3,980 |
|
|
|
(1,915 |
) |
|
|
172,219 |
|
Net interest income (expense)
|
|
|
118,280 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
12,068 |
|
|
|
320 |
|
|
|
1,297 |
|
|
|
(3,912 |
) |
|
|
- |
|
|
|
128,053 |
|
Impairment, net of the reversal of prior valuation allowances on loans
|
|
|
(173,223 |
) |
|
|
16 |
|
|
|
- |
|
|
|
- |
|
|
|
(38,561 |
) |
|
|
(60 |
) |
|
|
(29,030 |
) |
|
|
- |
|
|
|
- |
|
|
|
(240,858 |
) |
Other revenues
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
1,708 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
1,708 |
|
Other income (loss)
|
|
|
289,158 |
|
|
|
475 |
|
|
|
- |
|
|
|
- |
|
|
|
(5,491 |
) |
|
|
(663 |
) |
|
|
(1,269 |
) |
|
|
77 |
|
|
|
- |
|
|
|
282,287 |
|
Property operating expenses
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
1,283 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
1,283 |
|
Depreciation and amortization
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
79 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
79 |
|
Other operating expenses
|
|
|
1,483 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
3,160 |
|
|
|
4 |
|
|
|
(197 |
) |
|
|
25,089 |
|
|
|
- |
|
|
|
29,539 |
|
Income (loss) from continuing operations
|
|
|
579,178 |
|
|
|
459 |
|
|
|
- |
|
|
|
- |
|
|
|
42,324 |
|
|
|
(287 |
) |
|
|
29,255 |
|
|
|
(28,924 |
) |
|
|
- |
|
|
|
622,005 |
|
Income (loss) from discontinued operations
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
(536 |
) |
|
|
- |
|
|
|
193 |
|
|
|
- |
|
|
|
- |
|
|
|
(343 |
) |
Net income (loss)
|
|
|
579,178 |
|
|
|
459 |
|
|
|
- |
|
|
|
- |
|
|
|
41,788 |
|
|
|
(287 |
) |
|
|
29,448 |
|
|
|
(28,924 |
) |
|
|
- |
|
|
|
621,662 |
|
Preferred dividends
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
(7,453 |
) |
|
|
- |
|
|
|
(7,453 |
) |
Excess of carrying amount of exchanged preferred stock over fair value of consideration paid
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
43,043 |
|
|
|
- |
|
|
|
43,043 |
|
Income (loss) applicable to common stockholders
|
|
$ |
579,178 |
|
|
$ |
459 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
41,788 |
|
|
$ |
(287 |
) |
|
$ |
29,448 |
|
|
$ |
6,666 |
|
|
$ |
- |
|
|
$ |
657,252 |
|
|