| Schedule of quarterly unaudited summary information |
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2014
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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 (B)
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December 31
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Interest income
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$
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46,452
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$
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29,893
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|
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$
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27,544
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$
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23,738
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$
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127,627
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Interest expense
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22,170
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20,328
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18,411
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19,113
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80,022
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Net interest income (expense)
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24,282
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9,565
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9,133
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4,625
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47,605
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Impairment
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1,246
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1,526
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(4,015
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)
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(1,176
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)
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(2,419
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)
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Operating revenues
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62,632
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82,737
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81,494
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64,674
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291,537
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Other income (loss) (C)
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15,808
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41,707
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12,618
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4,329
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74,462
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Property operating expenses
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65,603
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75,289
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77,167
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66,316
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284,375
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Depreciation and amortization
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5,863
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6,317
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7,204
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7,583
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26,967
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Other operating expenses
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10,314
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10,471
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8,955
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7,150
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36,890
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Income tax expense
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140
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4
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—
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64
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208
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Income (loss) from continuing operations
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19,556
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40,402
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13,934
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(6,309
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)
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67,583
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Income (loss) from discontinued operations
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(15,299
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)
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(8,504
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)
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(8,624
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)
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(2,762
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)
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(35,189
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)
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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 loss (income) attributable to noncontrolling interests
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661
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29
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21
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141
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852
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Income (loss) applicable to common stockholders
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$
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3,523
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$
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30,532
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$
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3,936
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$
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(10,325
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)
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$
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27,666
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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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0.06
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$
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0.52
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$
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0.06
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$
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(0.16
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)
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$
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0.45
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Diluted
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$
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0.06
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$
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0.50
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$
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0.06
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$
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(0.16
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)
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$
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0.44
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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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(0.26
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)
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$
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(0.15
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)
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$
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(0.14
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)
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$
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(0.04
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)
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$
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(0.57
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)
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Diluted
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$
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(0.26
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)
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$
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(0.15
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)
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$
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(0.14
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)
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$
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(0.04
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)
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$
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(0.57
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)
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Weighted average number of shares of common stock outstanding
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Basic
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58,576
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58,600
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62,329
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66,404
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61,501
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Diluted
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60,511
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60,477
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63,866
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66,404
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63,131
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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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47,484
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$
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42,072
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$
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213,712
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Interest expense
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21,478
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20,752
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17,675
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18,696
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78,601
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Net interest income (expense)
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39,854
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42,072
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29,809
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23,376
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135,111
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Impairment
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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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Operating revenues
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—
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—
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|
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—
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—
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—
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Other income (loss) (C)
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5,762
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7,978
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6,784
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14,766
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35,290
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Property operating expenses
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—
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—
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—
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—
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—
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Depreciation and amortization
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—
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—
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2
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2
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4
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Other operating expenses
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12,730
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16,339
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8,533
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11,770
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49,372
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Income tax expense
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—
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—
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—
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—
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—
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Income (loss) from continuing operations
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30,113
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30,510
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41,056
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39,115
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140,794
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Income (loss) from discontinued operations
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7,900
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23,213
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(9,386
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)
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(10,180
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)
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11,547
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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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$
|
36,618
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|
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$
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52,328
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|
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$
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30,275
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$
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26,612
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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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0.93
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$
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1.21
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$
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0.62
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$
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0.50
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$
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3.16
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Diluted
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$
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0.92
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$
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1.18
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$
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0.60
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$
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0.49
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$
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3.09
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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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0.20
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$
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0.54
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$
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(0.19
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)
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$
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(0.19
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)
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$
|
0.25
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|
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Diluted
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$
|
0.20
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|
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$
|
0.52
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|
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$
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(0.19
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)
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$
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(0.19
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)
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$
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0.24
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Weighted average number of shares of common stock outstanding
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Basic
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39,189
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|
|
43,205
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|
|
48,896
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|
|
53,114
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|
|
46,147
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Diluted
|
40,013
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|
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44,233
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50,171
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54,267
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47,218
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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 3).
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(B)
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The options outstanding were excluded from the diluted share calculation as their effect would have been anti-dilutive.
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(C)
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Including equity in earnings of unconsolidated subsidiaries.
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