EQUITY AND EARNINGS PER SHARE (Tables)
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6 Months Ended |
Jun. 30, 2015 |
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| Stockholders' Equity Note [Abstract] |
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| Schedule of outstanding options |
The following is a summary of the changes in Newcastle's outstanding options for the six months ended June 30, 2015:
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Number of Options
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Weighted Average Strike Price
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Weighted Average Life Remaining (in years)
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Outstanding at December 31, 2014
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5,500,599
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$
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4.26
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Granted
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178,740
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1.00
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Exercised
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—
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—
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Expired
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54,999
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14.92
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Forfeited
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—
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—
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Outstanding at June 30, 2015
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5,624,340
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$
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2.79
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7.28
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Exercisable at June 30, 2015
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4,505,630
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$
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2.58
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6.80
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| Schedule of outstanding options summary |
As of June 30, 2015, Newcastle’s outstanding options were summarized as follows:
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Issued Prior to 2011
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Issued in 2011 and thereafter
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Total
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Held by the Manager
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114,479
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5,001,443
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5,115,922
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Issued to the Manager and subsequently transferred to certain of the Manager's employees
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30,182
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477,903
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508,085
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Issued to the independent directors
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333
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—
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333
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Total
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144,994
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5,479,346
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5,624,340
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Weighted average strike price
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$
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13.18
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$
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2.51
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$
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2.79
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| Schedule of amounts used in computing basic and diluted EPS |
Newcastle is required to present both basic and diluted earnings per share (“EPS”). The following table shows the amounts used in computing basic and diluted EPS:
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Three Months Ended June 30,
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Six Months Ended June 30,
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2015
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2014
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2015
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2014
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Numerator for basis and diluted earnings per share:
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Income from continuing operations after preferred dividends and noncontrolling interests
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$
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16,495
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$
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39,036
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$
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14,288
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$
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57,858
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Income (loss) from discontinued operations, net of tax
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524
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(8,504
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)
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639
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(23,803
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)
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Income Applicable to Common Stockholders
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$
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17,019
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$
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30,532
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$
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14,927
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$
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34,055
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Denominator:
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Denominator for basic earnings per share - weighted average shares
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66,427
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58,600
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66,426
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58,588
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Effect of dilutive securities
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Options
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2,778
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1,877
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2,630
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1,906
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Denominator for diluted earnings per share - adjusted weighted average shares
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69,205
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60,477
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69,055
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60,494
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Basic earnings per share:
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Income from continuing operations per share of common stock, after preferred dividends and noncontrolling interests
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$
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0.25
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$
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0.67
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$
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0.22
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$
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0.99
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Income (loss) from discontinued operations per share of common stock
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$
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0.01
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$
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(0.15
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)
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$
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0.01
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$
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(0.41
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)
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Income Applicable to Common Stock, per share
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$
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0.26
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$
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0.52
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$
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0.22
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$
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0.58
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Diluted earnings per share:
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Income from continuing operations per share of common stock, after preferred dividends and noncontrolling interests
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$
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0.24
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$
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0.65
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$
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0.21
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$
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0.96
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Income (loss) from discontinued operations per share of common stock
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$
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0.01
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$
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(0.15
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)
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$
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0.01
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$
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(0.41
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)
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Income Applicable to Common Stock, per share
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$
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0.25
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$
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0.50
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$
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0.22
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$
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0.56
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