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Earnings Per Share (Tables) | 9 Months Ended
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Sep. 30, 2021
Earnings Per Share [Abstract] |
Schedule of earnings per share | The following table sets forth the computation of basic and diluted net income (loss) per common share (amounts in millions, except per share amounts):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
Computation of Earnings Per Share | 2021 |  | 2020 |  | 2021 |  | 2020
Net income from continuing operations | $ | 310 |  |  | $ | 187 |  |  | $ | 1,296 |  |  | $ | 105 |
Less: Net income attributable to non-controlling interests | — |  |  | 5 |  |  | — |  |  | 2 |
Less: Undistributed earnings from continuing operations attributable to participating stockholders | 1 |  |  | 2 |  |  | 9 |  |  | 1 |
Less: Premium on retirement of preferred stock | 28 |  |  | — |  |  | 28 |  |  | — |
Net income from continuing operations attributable to Mr. Cooper common stockholders | $ | 281 |  |  | $ | 180 |  |  | $ | 1,259 |  |  | $ | 102 |
Net (loss) income from discontinued operations | $ | (11) |  |  | $ | 27 |  |  | $ | 3 |  |  | $ | 11 |
Less: Undistributed earnings from discontinued operations attributable to participating stockholders | — |  |  | — |  |  | — |  |  | — |
Net (loss) income from discontinued operations attributable to Mr. Cooper common stockholders | $ | (11) |  |  | $ | 27 |  |  | $ | 3 |  |  | $ | 11 |
Net income | $ | 299 |  |  | $ | 214 |  |  | $ | 1,299 |  |  | $ | 116 |
Less: Net income attributable to non-controlling interests | — |  |  | 5 |  |  | — |  |  | 2 |
Net income attributable to Mr. Cooper | 299 |  |  | 209 |  |  | 1,299 |  |  | 114 |
Less: Undistributed earnings attributable to participating stockholders | 1 |  |  | 2 |  |  | 9 |  |  | 1 |
Less: Premium on retirement of preferred stock | 28 |  |  | — |  |  | 28 |  |  | — |
Net income attributable to common stockholders | $ | 270 |  |  | $ | 207 |  |  | $ | 1,262 |  |  | $ | 113 |
Earnings from continuing operations per common share attributable to Mr. Cooper: |  |  |  |  |  |  |
Basic | $ | 3.56 |  |  | $ | 1.98 |  |  | $ | 14.85 |  |  | $ | 1.12 |
Diluted | $ | 3.42 |  |  | $ | 1.91 |  |  | $ | 14.20 |  |  | $ | 1.09 |
Earnings from discontinued operations per common share attributable to Mr. Cooper: |  |  |  |  |  |  |
Basic | $ | (0.14) |  |  | $ | 0.28 |  |  | $ | 0.04 |  |  | $ | 0.11 |
Diluted | $ | (0.13) |  |  | $ | 0.27 |  |  | $ | 0.03 |  |  | $ | 0.11 |
Earnings per common share attributable to Mr. Cooper: |  |  |  |  |  |  |
Basic | $ | 3.42 |  |  | $ | 2.26 |  |  | $ | 14.89 |  |  | $ | 1.23 |
Diluted | $ | 3.29 |  |  | $ | 2.18 |  |  | $ | 14.23 |  |  | $ | 1.20 |
Weighted average shares of common stock outstanding (in thousands): |  |  |  |  |  |  |
Basic | 78,944 |  |  | 91,682 |  |  | 84,809 |  |  | 91,688 |
Dilutive effect of stock awards | 2,826 |  |  | 2,563 |  |  | 3,176 |  |  | 1,529 |
Dilutive effect of participating securities | 301 |  |  | 839 |  |  | 658 |  |  | 839 |
Diluted | 82,071 |  |  | 95,084 |  |  | 88,643 |  |  | 94,056 |

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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257 + Details
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