Quarterly report pursuant to Section 13 or 15(d)

Schedule of Debt Obligations (Details)

v2.4.0.6
Schedule of Debt Obligations (Details) (USD $)
In Thousands, unless otherwise specified
 3 Months Ended
Mar. 31, 2013
Debt Face Amount $ 3,244,366
Carrying Value 3,240,751
CDO IV Bonds Payable
  
Month Issued Mar 2004 [1]
Debt Face Amount 71,604 [1]
Carrying Value 71,537 [1]
Final Stated Maturity Mar 2039 [1]
Unhedged Weighted Average Funding Cost 1.93% [1],[2]
Weighted Average Funding Cost 5.08% [1],[3]
Weighted Average Maturity (Years) 1 year 2 months [1]
Face Amount of Floating Rate Debt 60,804 [1]
Outstanding Face Amount of Collateral 153,780 [1],[4]
Amortized Cost Basis of Collateral 141,221 [1],[4]
Carrying Value of Collateral 140,589 [1],[4]
Weighted Average Maturity (Years) Of Collateral 1 year 7 months [1]
Floating Rate Face Amount of Collateral 42,747 [1],[4]
Aggregate Notional Amount of Current Hedges 60,804 [1],[5]
CDO VI Bonds Payable
  
Month Issued Apr 2005 [1]
Debt Face Amount 91,688 [1]
Carrying Value 91,689 [1]
Final Stated Maturity Apr 2040 [1]
Unhedged Weighted Average Funding Cost 0.86% [1],[2]
Weighted Average Funding Cost 5.35% [1],[3]
Weighted Average Maturity (Years) 4 years 6 months [1]
Face Amount of Floating Rate Debt 88,554 [1]
Outstanding Face Amount of Collateral 177,513 [1],[4]
Amortized Cost Basis of Collateral 91,701 [1],[4]
Carrying Value of Collateral 119,428 [1],[4]
Weighted Average Maturity (Years) Of Collateral 2 years 10 months [1]
Floating Rate Face Amount of Collateral 48,073 [1],[4]
Aggregate Notional Amount of Current Hedges 88,554 [1],[5]
CDO VIII Bonds Payable
  
Month Issued Nov 2006
Debt Face Amount 478,289
Carrying Value 477,447
Final Stated Maturity Nov 2052
Unhedged Weighted Average Funding Cost 0.80% [2]
Weighted Average Funding Cost 2.36% [3]
Weighted Average Maturity (Years) 1 year 8 months
Face Amount of Floating Rate Debt 470,689
Outstanding Face Amount of Collateral 672,349 [4]
Amortized Cost Basis of Collateral 489,664 [4]
Carrying Value of Collateral 522,209 [4]
Weighted Average Maturity (Years) Of Collateral 2 years 4 months
Floating Rate Face Amount of Collateral 349,172 [4]
Aggregate Notional Amount of Current Hedges 154,100 [5]
CDO IX Bonds Payable
  
Month Issued May 2007
Debt Face Amount 373,412
Carrying Value 374,887
Final Stated Maturity Nov 2052
Unhedged Weighted Average Funding Cost 0.60% [2]
Weighted Average Funding Cost 0.60% [3]
Weighted Average Maturity (Years) 1 year 5 months
Face Amount of Floating Rate Debt 373,412
Outstanding Face Amount of Collateral 613,694 [4]
Amortized Cost Basis of Collateral 491,396 [4]
Carrying Value of Collateral 503,618 [4]
Weighted Average Maturity (Years) Of Collateral 2 years 7 months
Floating Rate Face Amount of Collateral 299,787 [4]
Aggregate Notional Amount of Current Hedges    [5]
Total CDO Bonds Payable
  
Debt Face Amount 1,014,993
Carrying Value 1,015,560
Weighted Average Funding Cost 2.17% [3]
Weighted Average Maturity (Years) 1 year 10 months
Face Amount of Floating Rate Debt 993,459
Outstanding Face Amount of Collateral 1,617,336 [4]
Amortized Cost Basis of Collateral 1,213,982 [4]
Carrying Value of Collateral 1,285,844 [4]
Weighted Average Maturity (Years) Of Collateral 2 years 5 months
Floating Rate Face Amount of Collateral 739,779 [4]
Aggregate Notional Amount of Current Hedges 303,458 [5]
MH Loans Portfolio I Bonds and Notes Payable
  
Month Issued Apr 2010 [6]
Debt Face Amount 65,995 [6]
Carrying Value 62,276 [6]
Final Stated Maturity Jul 2035 [6]
Unhedged Weighted Average Funding Cost 6.31% [2],[6]
Weighted Average Funding Cost 6.31% [3],[6]
Weighted Average Maturity (Years) 4 years 1 month [6]
Face Amount of Floating Rate Debt    [6]
Outstanding Face Amount of Collateral 114,355 [6]
Amortized Cost Basis of Collateral 96,752 [6]
Carrying Value of Collateral 96,752 [6]
Weighted Average Maturity (Years) Of Collateral 6 years 4 months [6]
Floating Rate Face Amount of Collateral 851 [6]
Aggregate Notional Amount of Current Hedges    [5],[6]
MH Loans Portfolio II Bonds and Notes Payable
  
Month Issued May 2011
Debt Face Amount 112,046
Carrying Value 111,447
Final Stated Maturity Dec 2033
Unhedged Weighted Average Funding Cost 4.47% [2]
Weighted Average Funding Cost 4.47% [3]
Weighted Average Maturity (Years) 3 years 11 months
Face Amount of Floating Rate Debt   
Outstanding Face Amount of Collateral 146,865 [4]
Amortized Cost Basis of Collateral 144,274 [4]
Carrying Value of Collateral 144,274 [4]
Weighted Average Maturity (Years) Of Collateral 5 years 6 months
Floating Rate Face Amount of Collateral 24,374 [4]
Aggregate Notional Amount of Current Hedges    [5]
Total Other Bonds And Notes Payable
  
Debt Face Amount 178,041
Carrying Value 173,723
Weighted Average Funding Cost 5.13% [3]
Weighted Average Maturity (Years) 4 years
Face Amount of Floating Rate Debt   
Outstanding Face Amount of Collateral 261,220 [4]
Amortized Cost Basis of Collateral 241,026 [4]
Carrying Value of Collateral 241,026 [4]
Weighted Average Maturity (Years) Of Collateral 5 years 11 months
Floating Rate Face Amount of Collateral 25,225 [4]
Aggregate Notional Amount of Current Hedges    [5]
Non-agency RMBS Repurchase Agreements
  
Month Issued Various [7],[8]
Debt Face Amount 158,029 [7],[8]
Carrying Value 158,029 [7],[8]
Final Stated Maturity Apr 2013 [7],[8]
Unhedged Weighted Average Funding Cost LIBOR + 2.00% [2],[7],[8]
Weighted Average Funding Cost 2.20% [3],[7],[8]
Weighted Average Maturity (Years) 0 years 1 month [7],[8]
Face Amount of Floating Rate Debt 158,029 [7],[8]
Outstanding Face Amount of Collateral 330,871 [4],[7],[8]
Amortized Cost Basis of Collateral 208,446 [4],[7],[8]
Carrying Value of Collateral 233,813 [4],[7],[8]
Weighted Average Maturity (Years) Of Collateral 6 years 10 months [7],[8]
Floating Rate Face Amount of Collateral 330,871 [4],[7],[8]
Aggregate Notional Amount of Current Hedges    [5],[7],[8]
FNMA/FHLMC Securities
  
Month Issued Various [7],[9]
Debt Face Amount 1,315,557 [7],[9]
Carrying Value 1,315,557 [7],[9]
Final Stated Maturity Apr 2013 [7],[9]
Unhedged Weighted Average Funding Cost 0.44% [2],[7],[9]
Weighted Average Funding Cost 0.44% [3],[7],[9]
Weighted Average Maturity (Years) 0 years 1 month [7],[9]
Face Amount of Floating Rate Debt 1,315,557 [7],[9]
Outstanding Face Amount of Collateral 1,309,855 [4],[7],[9]
Amortized Cost Basis of Collateral 1,396,401 [4],[7],[9]
Carrying Value of Collateral 1,400,430 [4],[7],[9]
Weighted Average Maturity (Years) Of Collateral 4 years 1 month [7],[9]
Floating Rate Face Amount of Collateral 1,309,855 [4],[7],[9]
Aggregate Notional Amount of Current Hedges    [5],[7],[9]
Total Repurchase Agreements
  
Debt Face Amount 1,473,586 [7]
Carrying Value 1,473,586 [7]
Weighted Average Funding Cost 0.63% [3],[7]
Weighted Average Maturity (Years) 0 years 1 month [7]
Face Amount of Floating Rate Debt 1,473,586 [7]
Outstanding Face Amount of Collateral N/A [4],[7]
Amortized Cost Basis of Collateral 1,604,847 [4],[7]
Carrying Value of Collateral 1,634,243 [4],[7]
Weighted Average Maturity (Years) Of Collateral 4 years 8 months [7]
Floating Rate Face Amount of Collateral 1,640,726 [4],[7]
Aggregate Notional Amount of Current Hedges    [5],[7]
BPM Senior Living Facilities
  
Month Issued Jul 2012
Debt Face Amount 88,400
Carrying Value 88,400
Final Stated Maturity Aug 2019
Unhedged Weighted Average Funding Cost 3.44% [2]
Weighted Average Funding Cost 3.44% [3]
Weighted Average Maturity (Years) 6 years
Face Amount of Floating Rate Debt 23,400
Outstanding Face Amount of Collateral N/A [4]
Amortized Cost Basis of Collateral 135,251 [4]
Carrying Value of Collateral 135,251 [4]
Weighted Average Maturity (Years) Of Collateral N/A
Floating Rate Face Amount of Collateral    [4]
Aggregate Notional Amount of Current Hedges 23,400 [5]
Utah Senior Living Facilities
  
Month Issued Nov 2012
Debt Face Amount 16,000
Carrying Value 16,000
Final Stated Maturity Oct 2017
Unhedged Weighted Average Funding Cost LIBOR+3.75% [10],[2]
Weighted Average Funding Cost 4.75% [3]
Weighted Average Maturity (Years) 4 years 6 months
Face Amount of Floating Rate Debt 16,000
Outstanding Face Amount of Collateral N/A [4]
Amortized Cost Basis of Collateral 21,706 [4]
Carrying Value of Collateral 21,706 [4]
Weighted Average Maturity (Years) Of Collateral N/A
Floating Rate Face Amount of Collateral    [4]
Aggregate Notional Amount of Current Hedges    [5]
Courtyards Senior Living Facilities
  
Month Issued Dec 2012
Debt Face Amount 16,125
Carrying Value 16,125
Final Stated Maturity Oct 2017
Unhedged Weighted Average Funding Cost LIBOR+3.75% [10],[2]
Weighted Average Funding Cost 4.75% [3]
Weighted Average Maturity (Years) 4 years 6 months
Face Amount of Floating Rate Debt 16,125
Outstanding Face Amount of Collateral N/A [4]
Amortized Cost Basis of Collateral 21,036 [4]
Carrying Value of Collateral 21,036 [4]
Weighted Average Maturity (Years) Of Collateral N/A
Floating Rate Face Amount of Collateral    [4]
Aggregate Notional Amount of Current Hedges    [5]
Total Mortgage Notes Payable
  
Debt Face Amount 120,525
Carrying Value 120,525
Weighted Average Funding Cost 3.79% [3]
Weighted Average Maturity (Years) 5 years 7 months
Face Amount of Floating Rate Debt 55,525
Outstanding Face Amount of Collateral N/A [4]
Amortized Cost Basis of Collateral 177,993 [4]
Carrying Value of Collateral 177,993 [4]
Weighted Average Maturity (Years) Of Collateral N/A
Floating Rate Face Amount of Collateral    [4]
Aggregate Notional Amount of Current Hedges 23,400 [5]
Junior Subordinated Debt
  
Month Issued Mar 2006
Debt Face Amount 51,004
Carrying Value 51,242
Final Stated Maturity Apr 2035
Unhedged Weighted Average Funding Cost 7.574%; LIBOR + 2.25% after April 2016 [11],[2]
Weighted Average Funding Cost 7.40% [3]
Weighted Average Maturity (Years) 22 years 1 month
Face Amount of Floating Rate Debt   
Outstanding Face Amount of Collateral    [4]
Amortized Cost Basis of Collateral    [4]
Carrying Value of Collateral    [4]
Weighted Average Maturity (Years) Of Collateral 0 years
Floating Rate Face Amount of Collateral    [4]
Aggregate Notional Amount of Current Hedges    [5]
Total Corporate
  
Debt Face Amount 51,004
Carrying Value 51,242
Weighted Average Funding Cost 7.40% [3]
Weighted Average Maturity (Years) 22 years 1 month
Face Amount of Floating Rate Debt   
Outstanding Face Amount of Collateral    [4]
Amortized Cost Basis of Collateral    [4]
Carrying Value of Collateral    [4]
Weighted Average Maturity (Years) Of Collateral 0 years
Floating Rate Face Amount of Collateral    [4]
Aggregate Notional Amount of Current Hedges    [5]
Debt Securities Payable
  
Debt Face Amount 2,838,149
Carrying Value 2,834,636
Weighted Average Funding Cost 1.71% [3]
Weighted Average Maturity (Years) 1 year 7 months
Face Amount of Floating Rate Debt 2,522,570
Outstanding Face Amount of Collateral 3,519,282 [4]
Amortized Cost Basis of Collateral 3,237,848 [4]
Carrying Value of Collateral 3,339,106 [4]
Weighted Average Maturity (Years) Of Collateral 3 years 8 months
Floating Rate Face Amount of Collateral 2,405,730 [4]
Aggregate Notional Amount of Current Hedges 326,858 [5]
Subprime mortgage loans subject to call option
  
Month Issued April 2006 and July 2007 [12]
Debt Face Amount 406,217 [11]
Carrying Value $ 406,115 [11]
[1] (E) These CDOs were not in compliance with their applicable over collateralization tests as of March 31, 2013. Newcastle is not receiving cash flows from these CDOs (other than senior management fees and cash flows on senior classes of bonds that were repurchased), since net interest is being used to pay debt, and expects these CDOs to remain out of compliance for the foreseeable future.
[2] (A) Weighted average, including floating and fixed rate classes and including the amortization of deferred financing costs.
[3] (B) Including the effect of applicable hedges.
[4] (C) Excluding (i) restricted cash held in CDOs to be used for principal and interest payments of CDO debt, and (ii) operating cash in senior living entities.
[5] (D) Including a $23.4 million notional amount of interest rate cap agreement in for the mortgage notes payable and $60.8 million and $88.6 million of interest rate swap agreements in CDOs IV and VI, respectively, which were economic hedges not designated as hedges for accounting purposes.
[6] (F) Excluding $20.5 million face amount of other bonds payable relating to MH loans Portfolio I sold to certain Newcastle CDOs, which were eliminated in consolidation.
[7] (G) These repurchase agreements had $0.1 million of associated accrued interest payable at March 31, 2013. $1.5 billion face amount of these repurchase agreements were renewed subsequent to March 31, 2013.
[8] (H) The counterparty of these repurchase agreements is Credit Suisse.
[9] (I) The counterparties on these repurchase agreements are Bank of America ($291.4 million), Barclays ($267.2 million), Citi ($118.8 million), Goldman Sachs ($343.8 million), Morgan Stanley ($56.2 million) and Nomura ($238.2 million). Interest rates on these repurchase agreements are fixed, but will be reset on a short-term basis.
[10] (J) These financings have a Libor floor of 1%.
[11] (L) LIBOR + 2.25% after April 2016.
[12] (K) Issued in April 2006 and July 2007. See Note 4 regarding the securitizations of Subprime Portfolios I and II.