Annual report pursuant to Section 13 and 15(d)

SUMMARY OF QUARTERLY CONSOLIDATED FINANCIAL INFORMATION (UNAUDITED) (Tables)

v2.4.1.9
SUMMARY OF QUARTERLY CONSOLIDATED FINANCIAL INFORMATION (UNAUDITED) (Tables)
12 Months Ended
Dec. 31, 2013
Quarterly Financial Information Disclosure [Abstract]  
Schedule of quarterly unaudited summary information
2014
Quarter Ended
 
Year Ended
 
March 31 (A)
 
June 30 (A)
 
September 30 (A)
 
December 31 (B)
 
December 31
Interest income
$
46,452

 
$
29,893

 
$
27,544

 
$
23,738

 
$
127,627

Interest expense
22,170

 
20,328

 
18,411

 
19,113

 
80,022

Net interest income (expense)
24,282

 
9,565

 
9,133

 
4,625

 
47,605

Impairment
1,246

 
1,526

 
(4,015
)
 
(1,176
)
 
(2,419
)
Operating revenues
62,632

 
82,737

 
81,494

 
64,674

 
291,537

Other income (loss) (C)
15,808

 
41,707

 
12,618

 
4,329

 
74,462

Property operating expenses
65,603

 
75,289

 
77,167

 
66,316

 
284,375

Depreciation and amortization
5,863

 
6,317

 
7,204

 
7,583

 
26,967

Other operating expenses
10,314

 
10,471

 
8,955

 
7,150

 
36,890

Income tax expense
140

 
4

 

 
64

 
208

Income (loss) from continuing operations
19,556

 
40,402

 
13,934

 
(6,309
)
 
67,583

Income (loss) from discontinued operations
(15,299
)
 
(8,504
)
 
(8,624
)
 
(2,762
)
 
(35,189
)
Preferred dividends
(1,395
)
 
(1,395
)
 
(1,395
)
 
(1,395
)
 
(5,580
)
Net loss (income) attributable to noncontrolling interests
661

 
29

 
21

 
141

 
852

Income (loss) applicable to common stockholders
$
3,523

 
$
30,532

 
$
3,936

 
$
(10,325
)
 
$
27,666

Net income (loss) per share of common stock
 
 
 
 
 
 
 
 
 
Basic
$
0.06

 
$
0.52

 
$
0.06

 
$
(0.16
)
 
$
0.45

Diluted
$
0.06

 
$
0.50

 
$
0.06

 
$
(0.16
)
 
$
0.44

Income (loss) from discontinued operations per share of common stock
 
 
 
 
 
 
 
 
 
Basic
$
(0.26
)
 
$
(0.15
)
 
$
(0.14
)
 
$
(0.04
)
 
$
(0.57
)
Diluted
$
(0.26
)
 
$
(0.15
)
 
$
(0.14
)
 
$
(0.04
)
 
$
(0.57
)
Weighted average number of shares of common stock outstanding
 
 
 
 
 
 
 
 
 
Basic
58,576

 
58,600

 
62,329

 
66,404

 
61,501

Diluted
60,511

 
60,477

 
63,866

 
66,404

 
63,131

 
 
 
 
 
 
 
 
 
 
2013
Quarter Ended
 
Year Ended
 
March 31 (A)
 
June 30 (A)
 
September 30 (A)
 
December 31
 
December 31
Interest income
$
61,332

 
$
62,824

 
$
47,484

 
$
42,072

 
$
213,712

Interest expense
21,478

 
20,752

 
17,675

 
18,696

 
78,601

Net interest income (expense)
39,854

 
42,072

 
29,809

 
23,376

 
135,111

Impairment
2,773

 
3,201

 
(12,998
)
 
(12,745
)
 
(19,769
)
Operating revenues

 

 

 

 

Other income (loss) (C)
5,762

 
7,978

 
6,784

 
14,766

 
35,290

Property operating expenses

 

 

 

 

Depreciation and amortization

 

 
2

 
2

 
4

Other operating expenses
12,730

 
16,339

 
8,533

 
11,770

 
49,372

Income tax expense

 

 

 

 

Income (loss) from continuing operations
30,113

 
30,510

 
41,056

 
39,115

 
140,794

Income (loss) from discontinued operations
7,900

 
23,213

 
(9,386
)
 
(10,180
)
 
11,547

Preferred dividends
(1,395
)
 
(1,395
)
 
(1,395
)
 
(1,395
)
 
(5,580
)
Net income attributable to noncontrolling interests

 

 

 
(928
)
 
(928
)
Income (loss) applicable to common stockholders
$
36,618

 
$
52,328

 
$
30,275

 
$
26,612

 
$
145,833

Net income (loss) per share of common stock
 
 
 
 
 
 
 
 
 
Basic
$
0.93

 
$
1.21

 
$
0.62

 
$
0.50

 
$
3.16

Diluted
$
0.92

 
$
1.18

 
$
0.60

 
$
0.49

 
$
3.09

Income (loss) from discontinued operations per share of common stock
 
 
 
 
 
 
 
 
 
Basic
$
0.20

 
$
0.54

 
$
(0.19
)
 
$
(0.19
)
 
$
0.25

Diluted
$
0.20

 
$
0.52

 
$
(0.19
)
 
$
(0.19
)
 
$
0.24

Weighted average number of shares of common stock outstanding
 
 
 
 
 
 
 
 
 
Basic
39,189

 
43,205

 
48,896

 
53,114

 
46,147

Diluted
40,013

 
44,233

 
50,171

 
54,267

 
47,218

(A)
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 3).
(B)
The options outstanding were excluded from the diluted share calculation as their effect would have been anti-dilutive.
(C)
Including equity in earnings of unconsolidated subsidiaries.