| SUMMARY OF QUARTERLY CONSOLIDATED FINANCIAL INFORMATION (UNAUDITED) |
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21.
SUMMARY
QUARTERLY CONSOLIDATED FINANCIAL INFORMATION (UNAUDITED)
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The following is unaudited summary information on Newcastle’s quarterly
operations.
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2013
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Quarter Ended
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Year Ended
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March 31 (A)
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June 30 (A)
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September 30 (A)
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December 31
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December 31
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Interest income
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$
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61,332
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$
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62,824
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$
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47,486
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$
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42,073
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$
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213,715
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Interest expense
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22,710
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21,998
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20,555
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24,119
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89,382
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Net interest income (expense)
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38,622
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40,826
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26,931
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17,954
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124,333
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Impairment (reversal)
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2,773
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3,201
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(12,998
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)
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(12,745
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)
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(19,769
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)
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Other revenues
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13,500
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14,013
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24,912
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34,898
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87,323
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Other income (loss) (B)
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5,770
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8,090
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6,710
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14,731
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35,301
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Property operating expenses
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8,363
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8,409
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15,804
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21,142
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53,718
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Depreciation and amortization
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4,079
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4,070
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7,732
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11,247
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27,128
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Other operating expenses
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14,812
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19,107
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16,217
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22,008
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72,144
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Income tax expense
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—
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—
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1,213
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(175
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)
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1,038
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Income (loss) from continuing
operations
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27,865
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28,142
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30,585
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26,106
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112,698
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Income (loss) from discontinued
operations, net of tax
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10,148
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25,581
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(1,341
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)
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5,255
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39,643
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Preferred dividends
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(1,395
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)
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(1,395
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)
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(1,395
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)
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(1,395
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)
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(5,580
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)
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Net income attributable to
noncontrolling interests
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—
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—
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—
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(928
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)
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(928
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)
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Income (loss) applicable to common
stockholders
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$
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36,618
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$
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52,328
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$
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27,849
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$
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29,038
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$
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145,833
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Net income (loss) per share of common
stock
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Basic
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$
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0.16
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$
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0.20
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$
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0.09
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$
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0.09
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$
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0.53
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Diluted
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$
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0.15
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$
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0.20
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$
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0.09
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$
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0.09
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$
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0.51
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Income (loss) from discontinued
operations per share of common stock
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Basic
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$
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0.04
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$
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0.10
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$
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—
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$
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0.01
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$
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0.14
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Diluted
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$
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0.04
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$
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0.10
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$
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—
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$
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0.01
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$
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0.14
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Weighted average number of shares of
common stock outstanding
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Basic
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235,137
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259,228
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293,374
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318,687
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276,881
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Diluted
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240,079
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265,396
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301,028
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325,601
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283,310
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2012
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Quarter Ended
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Year Ended
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March 31 (A)
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June 30 (A)
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September 30 (A)
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December 31
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December 31
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Interest income
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$
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72,862
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$
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77,956
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$
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72,947
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$
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59,186
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$
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282,951
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Interest expense
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30,165
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29,462
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28,411
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21,886
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109,924
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Net interest income (expense)
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42,697
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48,494
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44,536
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37,300
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173,027
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Impairment
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(7,080
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)
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8,499
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5,014
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(12,097
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)
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(5,664
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)
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Other revenues
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509
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515
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8,071
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10,980
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20,075
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Other income (loss) (B)
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28,536
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(4,882
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)
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234,008
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4,632
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262,294
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Property operating expenses
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225
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232
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5,043
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7,443
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12,943
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Depreciation and amortization
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2
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2
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2,385
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4,586
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6,975
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Other operating expenses
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8,237
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11,575
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11,926
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14,462
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46,200
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Income (loss) from continuing
operations
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70,358
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23,819
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262,247
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38,518
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394,942
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Income (loss) from discontinued
operations
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3,113
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6,620
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10,974
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18,461
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39,168
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Preferred dividends
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(1,395
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)
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(1,395
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)
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(1,395
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)
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(1,395
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)
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(5,580
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)
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Income (loss) applicable to common
stockholders
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$
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72,076
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$
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29,044
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$
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271,826
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$
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55,584
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$
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428,530
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Net income (loss) per share of common
stock
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Basic
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$
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0.68
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$
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0.21
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$
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1.65
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$
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0.32
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$
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2.97
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Diluted
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$
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0.68
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$
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0.21
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$
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1.63
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$
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0.32
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$
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2.94
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Income (loss) from discontinued
operations per share of common stock
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Basic
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$
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0.03
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$
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0.05
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$
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0.07
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$
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0.11
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$
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0.27
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Diluted
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$
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0.03
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$
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0.05
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$
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0.07
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$
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0.11
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$
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0.27
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Weighted average number of shares of
common stock outstanding
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Basic
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105,181
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134,115
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164,238
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172,519
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144,146
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Diluted
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105,670
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135,173
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166,429
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175,413
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145,766
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(A)
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The Income Available for Common Stockholders shown agrees with
Newcastle’s quarterly report(s) on Form 10-Q as filed with the
Securities and Exchange Commission. However, individual line items
may vary from such report(s) due to the operations of properties
sold, or classified as held for sale, during subsequent periods
being retroactively reclassified to Income for Discontinued
Operations for all periods presented (Note 8).
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(B)
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Including equity in earnings of unconsolidated subsidiaries.
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