XML 48 R31.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Acquisitions (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2018
Business Combinations [Abstract] |
Schedule of Business Acquisitions | The table below presents the calculation of aggregate purchase price.
Purchase Price: |
Converted WMIH common shares (prior to reverse stock split) in millions | 394 |
Price per share, based on price of $1.398 for WMIH stock on July 31, 2018 | $ | 1.398 |
Purchase price from common stock issued | 551 |
Purchase price from cash payment | 1,226 |
Total purchase price | $ | 1,777 |
Schedule of Assets Acquired and Liabilities Assumed | The preliminary allocation of the purchase price to the acquired assets and liabilities is as follows:
Preliminary Estimated Fair Value of Net Assets Acquired: |
Cash and cash equivalent | $ | 166 |
Restricted cash | 430 |
Mortgage servicing rights | 3,428 |
Advances and other receivables | 1,262 |
Reverse mortgage interests | 9,225 |
Mortgage loans held for sale | 1,514 |
Mortgage loans held for investment | 125 |
Property and equipment | 96 |
Derivative financial instruments | 64 |
Other assets | 548 |
Fair value of assets acquired | 16,858 |
Unsecured senior notes | 1,830 |
Advance facilities | 551 |
Warehouse facilities | 2,701 |
Payables and accrued liabilities | 1,365 |
MSR related liabilities—nonrecourse | 1,065 |
Mortgage servicing liabilities | 86 |
Derivative financial instruments | 3 |
Other nonrecourse debt | 7,583 |
Fair value of liabilities assumed | 15,184 |
Total fair value of net tangible assets acquired | 1,674 |
Intangible assets(1) | 103 |
Preliminary goodwill | — |
| $ | 1,777 |
(1) The following intangible assets were acquired in the Nationstar acquisition.
| Useful Life (Years) |  | Fair Value
Customer relationships (i) | 6 |  | $ | 61 |
Tradename (ii) | 5 |  | 8 |
Technology (ii) | 3-5 |  | 11 |
Internally developed software(iii) | 2 |  | 23 |
Total |  |  | $ | 103 |
(i) The estimated fair values for customer relationships were measured using the excess earnings method. (ii) The estimated fair values for tradename and technology were measured using the relief-from-royalty method. This method assumes the tradename and technology have value to the extent the owner is relieved of the obligation to pay royalties for the benefits received from these assets. (iii) The estimated fair values for internally developed software were measured using the replacement cost method.
Pro Forma Information | The following unaudited pro forma financial information presents the combined results of operations for the three and nine months ended September 30, 2018 as if the transaction had occurred on January 1, 2018.
| Three Months Ended September 30, 2018 |  | Nine Months Ended September 30, 2018
Pro forma total revenues | $ | 506 |  |  | $ | 1,538 |
Pro forma net income | $ | (20 | ) |  | $ | 156 |

X
- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(3) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
Name: | us-gaap_BusinessAcquisitionProFormaInformationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_BusinessCombinationsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1486-128463 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
Name: | us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=84161108&loc=d3e4845-128472 + Details
Name: | us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration