Quarterly report pursuant to Section 13 or 15(d)

PRO FORMA CONDENSED CONSOLIDATED FINANCIAL INFORMATION - Statement of Operations (Details)

v2.4.0.8
PRO FORMA CONDENSED CONSOLIDATED FINANCIAL INFORMATION - Statement of Operations (Details) (USD $)
In Thousands, except Share data, unless otherwise specified
 3 Months Ended 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Sep. 30, 2012
Interest income $ 47,486 $ 72,947 $ 171,642 $ 223,765
Interest expense 20,555 28,411 65,263 88,038
Net interest income 26,931 44,536 106,379 135,727
Impairment (Reversal)        
Valuation allowance (reversal) on loans (12,998) 4,094 (11,473) (8,160)
Other-than-temporary impairment on securities    (236) 4,405 16,506
Portion of other-than-temporary impairment on securities recognized in other comprehensive income (loss), net of the reversal of other comprehensive loss into net income (loss)    1,156 44 (1,913)
[ImpairmentNetOfTheReversalOfPriorValuationAllowancesOnLoans] (12,998) 5,014 (7,024) 6,433
Net interest income after impairment/reversal 39,929 39,522 113,403 129,294
Other Revenues        
Rental income 21,149 6,660 44,344 7,684
Care and ancillary income 3,763 1,411 8,081 1,411
Total other revenues 24,912 8,071 52,425 9,095
Other Income (Loss)        
Gain (loss) on settlement of investments, net 1,388 229,239 6,451 232,885
Gain on extinguishment of debt 3,359 2,345 4,565 23,127
Other income (loss), net 1,963 2,424 9,554 1,650
Equity in earnings of Local Media Group 1,045    1,045   
[NonoperatingGainsLosses] 7,755 234,008 21,615 257,662
Expenses        
Loan and security servicing expense 908 1,054 2,963 3,256
Property operating expenses 15,804 5,043 32,576 5,500
General and administrative expense 9,356 4,020 23,507 11,023
Management fee to affiliate 7,166 6,852 24,879 17,459
Depreciation and amortization 7,732 2,385 15,881 2,389
Total Expenses 40,966 19,354 99,806 39,627
Income (loss) from continuing operations 31,630 262,247 87,637 356,424
Preferred dividends (1,395) (1,395) (4,185) (4,185)
Income (Loss) from continuing operations per share of common stock, after preferred dividends        
Basic $ 0.10 $ 1.59 $ 0.32 $ 2.62
Diluted $ 0.10 $ 1.57 $ 0.31 $ 2.59
Weighted Average Number of Shares of Common Stock Outstanding        
Basic 293,373,891 164,237,757 262,792,986 134,619,858
Diluted 301,027,917 166,429,120 269,057,682 135,869,332
Newcastle Consolidated Historical
        
Interest income     171,642 [1]  
Interest expense     65,263 [1]  
Net interest income     106,379 [1]  
Impairment (Reversal)        
Valuation allowance (reversal) on loans     (11,473) [1]  
Other-than-temporary impairment on securities     4,405 [1]  
Portion of other-than-temporary impairment on securities recognized in other comprehensive income (loss), net of the reversal of other comprehensive loss into net income (loss)     44 [1]  
[ImpairmentNetOfTheReversalOfPriorValuationAllowancesOnLoans]     (7,024) [1]  
Net interest income after impairment/reversal     113,403 [1]  
Other Revenues        
Rental income     44,344 [1]  
Care and ancillary income     8,081 [1]  
Total other revenues     52,425 [1]  
Other Income (Loss)        
Gain (loss) on settlement of investments, net     6,451 [1]  
Gain on extinguishment of debt     4,565 [1]  
Other income (loss), net     1,045 [1]  
Equity in earnings of Local Media Group     9,554 [1]  
[NonoperatingGainsLosses]     21,615 [1]  
Expenses        
Loan and security servicing expense     2,963 [1]  
Property operating expenses     32,576 [1]  
General and administrative expense     23,507 [1]  
Management fee to affiliate     24,879 [1]  
Depreciation and amortization     15,881 [1]  
Total Expenses     99,806 [1]  
Income (loss) from continuing operations     87,637 [1]  
Preferred dividends     (4,185) [1]  
Income (loss) from continuing operations after preferred dividends     83,452 [1]  
Income (Loss) from continuing operations per share of common stock, after preferred dividends        
Basic     $ 0.32 [1]  
Diluted     $ 0.31 [1]  
Weighted Average Number of Shares of Common Stock Outstanding        
Basic     262,792,986 [1]  
Diluted     269,057,682 [1]  
Pro Forma Adjustments New Residential
        
Interest income     (12,019) [2]  
Interest expense     (2,152) [2]  
Net interest income     (9,867) [2]  
Impairment (Reversal)        
Valuation allowance (reversal) on loans        [2]  
Other-than-temporary impairment on securities     (3,756) [2]  
Portion of other-than-temporary impairment on securities recognized in other comprehensive income (loss), net of the reversal of other comprehensive loss into net income (loss)        [2]  
[ImpairmentNetOfTheReversalOfPriorValuationAllowancesOnLoans]     (3,756) [2]  
Net interest income after impairment/reversal     (6,111) [2]  
Other Revenues        
Rental income        [2]  
Care and ancillary income        [2]  
Total other revenues        [2]  
Other Income (Loss)        
Gain (loss) on settlement of investments, net     (58) [2]  
Gain on extinguishment of debt        [2]  
Other income (loss), net        [2]  
Equity in earnings of Local Media Group        [2]  
[NonoperatingGainsLosses]     (58) [2]  
Expenses        
Loan and security servicing expense     (108) [2]  
Property operating expenses        [2]  
General and administrative expense     (38) [2]  
Management fee to affiliate     (4,134) [2]  
Depreciation and amortization        [2]  
Total Expenses     (4,280) [2]  
Income (loss) from continuing operations     (1,889) [2]  
Preferred dividends        [2]  
Income (loss) from continuing operations after preferred dividends     (1,889) [2]  
Newcastle Consolidated Pro Forma
        
Interest income     159,623  
Interest expense     63,111  
Net interest income     96,512  
Impairment (Reversal)        
Valuation allowance (reversal) on loans     (11,473)  
Other-than-temporary impairment on securities     649  
Portion of other-than-temporary impairment on securities recognized in other comprehensive income (loss), net of the reversal of other comprehensive loss into net income (loss)     44  
[ImpairmentNetOfTheReversalOfPriorValuationAllowancesOnLoans]     (10,780)  
Net interest income after impairment/reversal     107,292  
Other Revenues        
Rental income     44,344  
Care and ancillary income     8,081  
Total other revenues     52,425  
Other Income (Loss)        
Gain (loss) on settlement of investments, net     6,393  
Gain on extinguishment of debt     4,565  
Other income (loss), net     1,045  
Equity in earnings of Local Media Group     9,554  
[NonoperatingGainsLosses]     21,557  
Expenses        
Loan and security servicing expense     2,855  
Property operating expenses     32,576  
General and administrative expense     23,469  
Management fee to affiliate     20,745  
Depreciation and amortization     15,881  
Total Expenses     95,526  
Income (loss) from continuing operations     85,748  
Preferred dividends     (4,185)  
Income (loss) from continuing operations after preferred dividends     $ 81,563  
Income (Loss) from continuing operations per share of common stock, after preferred dividends        
Basic     $ 0.31  
Diluted     $ 0.30  
Weighted Average Number of Shares of Common Stock Outstanding        
Basic     262,792,986  
Diluted     269,057,682  
[1] (A) Represents Newcastle's historical consolidated statement of operations for the nine months ended September 30, 2013, excluding discontinued operations.
[2] (B) Represents the portion of New Residential's historical consolidated statement of operations for the period from January 1, 2013 to May 15, 2013 that is not included in Newcastle's income (loss) from discontinued operations. After the May 15, 2013 spin-off of New Residential from Newcastle, no results of New Residential were reported in Newcastle's consolidated statement of operations.