Quarterly report pursuant to Section 13 or 15(d)

SPIN-OFF OF NEW RESIDENTIAL AND NEW MEDIA (Tables)

v2.4.0.8
SPIN-OFF OF NEW RESIDENTIAL AND NEW MEDIA (Tables)
 3 Months Ended
Mar. 31, 2014
Spin-Off Of New Residential And New Media Tables  
Schedule of carrying value of assets and liabilities immediately preceding the spin-off
The following table presents the carrying value of the assets and liabilities of New Media, immediately preceding the February 13, 2014 spin-off.
Assets
 

Property, plant and equipment, net
$
266,385

Intangibles, net
144,664

Goodwill
126,686

Cash and cash equivalents
23,845

Restricted cash
6,477

Receivables and other assets
101,940

Total Assets
$
669,997

 
 

Liabilities
 

Credit facilities - media
$
177,955

Accounts payable, accrued expenses and other liabilities
99,857

Total Liabilities
$
277,812

 
 

Net Assets
$
392,185

Schedule of results of operations from discontinued operations
Results from discontinued operations were as follows:
 
Three Months Ended 
 March 31,
 
2014
 
2013
Interest Income
$
—

 
$
10,035

Interest Expense
2,096

 
—

Net interest income (loss)
(2,096
)
 
10,035

 
 
 
 
Media income
68,213

 
—

 
 
 
 
Change in fair value of investments in excess mortgage servicing rights
—

 
1,858

Change in fair value of investments in equity method investees
—

 
969

Other income
—

 
2,827

 
 
 
 
Media operating expenses
65,826

 
—

Property operating costs
—

 
7

General and administrative expenses
1,904

 
2,707

Depreciation and amortization
4,596

 
—

Income tax (benefit) expense
(915
)
 
—

Total expenses
71,411

 
2,714

 
 
 
 
Net income attributable to noncontrolling interest
522

 
—

 
 
 
 
Income (loss) from discontinued operations
$
(4,772
)
 
$
10,148