Quarterly report pursuant to Section 13 or 15(d)

Schedule of Segment Reporting (Details)

v2.4.0.6
Schedule of Segment Reporting (Details) (USD $)
In Thousands, unless otherwise specified
 3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Dec. 31, 2012
Interest income $ 71,367 $ 74,899  
Interest expense 22,710 30,165  
Net interest income 48,657 44,734  
Impairment (reversal) 2,773 (7,080)  
Other revenues 13,500 509  
Other income (loss) 8,597 29,752  
Property operating expenses 8,363 225  
Depreciation and amortization 4,079 2  
Other operating expenses 17,510 8,360  
Income (loss) from continuing operations 38,029 73,488  
Income (loss) from discontinued operations (16) (17)  
Net Income (Loss) 38,013 73,471  
Preferred dividends (1,395) (1,395)  
Income (Loss) Available to Common Stockholders 36,618 72,076  
Investments 4,621,984    
Cash and restricted cash 546,266    
Derivative Assets 176   165
Receivables and other assets 27,577   17,230
Total assets 5,196,003   3,945,312
Debt (3,240,751)    
Derivative Liabilities (26,612)   (31,576)
Other liabilities (79,141)    
Total liabilities (3,346,504)   (2,872,252)
Preferred Stock (61,583)   (61,583)
GAAP book value 1,787,916    
Investments in equity method investees at fair value 102,588     
Additions to investments in real estate 259     
Non-Recourse CDOs
      
Interest income 31,589 [1] 54,402 [1]  
Interest expense 7,131 [1] 17,636 [1]  
Net interest income 24,458 [1] 36,766 [1]  
Impairment (reversal) 3,183 [1] (8,531) [1]  
Other revenues    [1]    [1]  
Other income (loss) 4,497 [1] 29,913 [1]  
Property operating expenses    [1]     
Depreciation and amortization    [1]     
Other operating expenses 194 [1] 241 [1]  
Income (loss) from continuing operations 25,578 [1] 74,969 [1]  
Income (loss) from discontinued operations    [1]    [1]  
Net Income (Loss) 25,578 [1] 74,969 [1]  
Preferred dividends    [1]    [1]  
Income (Loss) Available to Common Stockholders 25,578 [1] 74,969 [1]  
Investments 1,347,691 [1]    
Cash and restricted cash 11,494 [1]    
Derivative Assets    [1]    
Receivables and other assets 7,556 [1]    
Total assets 1,366,741 [1]    
Debt (1,015,560) [1]    
Derivative Liabilities (26,612)    
Other liabilities (5,510) [1]    
Total liabilities (1,047,682) [1]    
Preferred Stock    [1]    
GAAP book value 319,059    
Investments in equity method investees at fair value    [1]    
Additions to investments in real estate    [1]    
Unlevered CDOs
      
Interest income 239 [2] 115 [2]  
Interest expense    [2]    [2]  
Net interest income 239 [2] 115 [2]  
Impairment (reversal)    [2]    [2]  
Other revenues    [2]    [2]  
Other income (loss) 74 [2] 92 [2]  
Property operating expenses    [2]     
Depreciation and amortization    [2]     
Other operating expenses    [2] 1 [2]  
Income (loss) from continuing operations 313 [2] 206 [2]  
Income (loss) from discontinued operations    [2]    [2]  
Net Income (Loss) 313 [2] 206 [2]  
Preferred dividends    [2]    [2]  
Income (Loss) Available to Common Stockholders 313 [2] 206 [2]  
Investments 5,254 [2]    
Cash and restricted cash    [2]    
Derivative Assets    [2]    
Receivables and other assets 6 [2]    
Total assets 5,260 [2]    
Debt    [2]    
Derivative Liabilities    [2]    
Other liabilities    [2]    
Total liabilities    [2]    
Preferred Stock    [2]    
GAAP book value 5,260    
Investments in equity method investees at fair value    [2]    
Additions to investments in real estate    [2]    
Unlevered Excess MSRs
      
Interest income 10,035 2,037  
Interest expense        
Net interest income 10,035 2,037  
Impairment (reversal)        
Other revenues        
Other income (loss) 2,827 1,216  
Property operating expenses        
Depreciation and amortization        
Other operating expenses 221 123  
Income (loss) from continuing operations 12,641 3,130  
Income (loss) from discontinued operations        
Net Income (Loss) 12,641 3,130  
Preferred dividends        
Income (Loss) Available to Common Stockholders 12,641 3,130  
Investments 339,143    
Cash and restricted cash       
Derivative Assets       
Receivables and other assets       
Total assets 339,143    
Debt       
Derivative Liabilities       
Other liabilities (280)    
Total liabilities (280)    
Preferred Stock       
GAAP book value 338,863    
Investments in equity method investees at fair value 102,588    
Additions to investments in real estate       
Non-recourse Senior Living
      
Interest income        
Interest expense 1,232     
Net interest income (1,232)     
Impairment (reversal)        
Other revenues 12,997     
Other income (loss) 8     
Property operating expenses 8,116     
Depreciation and amortization 4,022     
Other operating expenses 2,388     
Income (loss) from continuing operations (2,753)     
Income (loss) from discontinued operations        
Net Income (Loss) (2,753)     
Preferred dividends        
Income (Loss) Available to Common Stockholders (2,753)     
Investments 177,993    
Cash and restricted cash 10,207    
Derivative Assets 176    
Receivables and other assets 7,537    
Total assets 195,913    
Debt (120,525)    
Derivative Liabilities       
Other liabilities (4,935)    
Total liabilities (125,460)    
Preferred Stock       
GAAP book value 70,453    
Investments in equity method investees at fair value       
Additions to investments in real estate 130    
Non-recourse Other
      
Interest income 16,307 [1],[3] 18,426 [1],[3]  
Interest expense 12,383 [1],[3] 12,663 [1],[3]  
Net interest income 3,924 [1],[3] 5,763 [1],[3]  
Impairment (reversal) 848 [1],[3] 1,648 [1],[3]  
Other revenues 503 [1],[3] 509 [1],[3]  
Other income (loss)    [1],[3]    [1],[3]  
Property operating expenses 247 [1],[3] 338  
Depreciation and amortization 57 [1],[3] 2  
Other operating expenses 719 [1],[3] 844 [1],[3]  
Income (loss) from continuing operations 2,556 [1],[3] 3,440 [1],[3]  
Income (loss) from discontinued operations    [1],[3]    [1],[3]  
Net Income (Loss) 2,556 [1],[3] 3,440 [1],[3]  
Preferred dividends    [1],[3]    [1],[3]  
Income (Loss) Available to Common Stockholders 2,556 [1],[3] 3,440 [1],[3]  
Investments 708,998 [1],[3]    
Cash and restricted cash    [1],[3]    
Derivative Assets    [1],[3]    
Receivables and other assets 91 [1],[3]    
Total assets 709,089 [1],[3]    
Debt (641,685) [1],[3]    
Derivative Liabilities    [1],[3]    
Other liabilities (1,444) [1],[3]    
Total liabilities (643,129) [1],[3]    
Preferred Stock    [1],[3]    
GAAP book value 65,960    
Investments in equity method investees at fair value    [1],[3]    
Additions to investments in real estate 129 [1],[3]    
Recourse
      
Interest income 7,285 [4] 814  
Interest expense 1,878 [4] 268  
Net interest income 5,407 [4] 546  
Impairment (reversal)    [4]     
Other revenues    [4]     
Other income (loss)    [4]     
Property operating expenses    [4]     
Depreciation and amortization    [4]     
Other operating expenses 42 [4]     
Income (loss) from continuing operations 5,365 [4] 546  
Income (loss) from discontinued operations    [4]     
Net Income (Loss) 5,365 [4] 546  
Preferred dividends    [4]     
Income (Loss) Available to Common Stockholders 5,365 [4] 546  
Investments 1,634,243 [4]    
Cash and restricted cash    [4]    
Derivative Assets    [4]    
Receivables and other assets 9,893 [4]    
Total assets 1,644,136 [4]    
Debt (1,473,728) [4]    
Derivative Liabilities    [4]    
Other liabilities (142) [4]    
Total liabilities (1,473,728) [4]    
Preferred Stock    [4]    
GAAP book value 170,408    
Investments in equity method investees at fair value    [4]    
Additions to investments in real estate    [4]    
Unlevered Other
      
Interest income 6,706 [5] 523  
Interest expense    [5]     
Net interest income 6,706 [5] 523  
Impairment (reversal) (1,258) [5] (197)  
Other revenues    [5]     
Other income (loss) 1,191 [5] (1,469)  
Property operating expenses    [5]     
Depreciation and amortization    [5]     
Other operating expenses 95 [5] 13  
Income (loss) from continuing operations 9,060 [5] (762)  
Income (loss) from discontinued operations (16) [5] (17)  
Net Income (Loss) 9,044 [5] (779)  
Preferred dividends    [5]     
Income (Loss) Available to Common Stockholders 9,044 [5] (779)  
Investments 470,509 [5]    
Cash and restricted cash    [5]    
Derivative Assets    [5]    
Receivables and other assets 2,350 [5]    
Total assets 472,859 [5]    
Debt    [5]    
Derivative Liabilities    [5]    
Other liabilities (854) [5]    
Total liabilities (854) [5]    
Preferred Stock    [5]    
GAAP book value 472,005    
Investments in equity method investees at fair value    [5]    
Additions to investments in real estate    [5]    
Corporate
      
Interest income 72 51  
Interest expense 952 954  
Net interest income (880) (903)  
Impairment (reversal)        
Other revenues        
Other income (loss)        
Property operating expenses        
Depreciation and amortization        
Other operating expenses 13,851 7,138  
Income (loss) from continuing operations (14,731) (8,041)  
Income (loss) from discontinued operations        
Net Income (Loss) (14,731) (8,041)  
Preferred dividends (1,395) (1,395)  
Income (Loss) Available to Common Stockholders (16,126) (9,436)  
Investments       
Cash and restricted cash 524,565    
Derivative Assets       
Receivables and other assets 299    
Total assets 524,864    
Debt (51,242)    
Derivative Liabilities       
Other liabilities (66,131)    
Total liabilities (117,373)    
Preferred Stock (61,583)    
GAAP book value 345,908    
Investments in equity method investees at fair value       
Additions to investments in real estate       
Intersegment Elimination
      
Interest income (866) [6] (1,469) [6]  
Interest expense (866) [6] (1,356) [6]  
Net interest income    [6] (113) [6]  
Impairment (reversal)    [6]    [6]  
Other revenues    [6]    [6]  
Other income (loss)    [6]    [6]  
Property operating expenses    [6]     
Depreciation and amortization    [6] (113)  
Other operating expenses    [6]    [6]  
Income (loss) from continuing operations    [6]    [6]  
Income (loss) from discontinued operations    [6]    [6]  
Net Income (Loss)    [6]    [6]  
Preferred dividends    [6]    [6]  
Income (Loss) Available to Common Stockholders    [6]    [6]  
Investments (61,847) [6]    
Cash and restricted cash    [6]    
Derivative Assets    [6]    
Receivables and other assets (155) [6]    
Total assets (62,002) [6]    
Debt 61,847 [6]    
Derivative Liabilities    [6]    
Other liabilities 155 [6]    
Total liabilities 62,002 [6]    
Preferred Stock    [6]    
GAAP book value       
Investments in equity method investees at fair value    [6]    
Additions to investments in real estate    [6]    
[1] (A) Assets held within CDOs and other non-recourse structures are not available to satisfy obligations outside of such financings, except to the extent Newcastle receives net cash flow distributions from such structures. Furthermore, creditors or beneficial interest holders of these structures have no recourse to the general credit of Newcastle. Therefore, Newcastle's exposure to the economic losses from such structures is limited to its invested equity in them and economically their book value cannot be less than zero. Therefore, impairment recorded in excess of Newcastle's investment, which results in negative GAAP book value for a given non-recourse financing structure, cannot economically be incurred and will eventually be reversed through amortization, sales at gains, or as gains at the deconsolidation or termination of such non-recourse financing structure.
[2] (B) Represents unlevered investments in CDO securities issued by Newcastle. These CDOs have been deconsolidated as Newcastle does not have the power to direct the relevant activities of the CDOs.
[3] (C) The following table summarizes the investments and debt in the other non-recourse segment (See table Schedule of Segment Other Non-Recourse Investments and Debt). An aggregate face amount of $70.5 million (carrying value of $61.8 million) of debt represents financing provided by the CDO segment (and included as investments in the CDO segment), which is eliminated upon consolidation.
[4] (D) The $1.5 billion of recourse debt is comprised of (i) a $1.3 billion repurchase agreement secured by $1.4 billion carrying value of FNMA/FHLMC securities and (iii) a $158.0 million repurchase agreement secured by $233.8 million carrying value of non-agency residential mortgage backed securities ("RMBS").
[5] (E) The following table summarizes the investments in the unlevered other segment (See table Schedule of Investments in Unlevered Other Segment).
[6] (F) Represents the elimination of investments and financings and their related income and expenses between the CDO segment and other non-recourse segment as the corresponding inter-segment investments and financings are presented on a gross basis within each of these segments.