XML 58 R38.htm IDEA: XBRL DOCUMENT
v2.4.0.6

NOTE 31 QUARTERLY RESULTS OF OPERATIONS (UNAUDITED) | 12 Months Ended
--- | ---
Dec. 31, 2011
Quarterly Financial Information [Text Block] | NOTE 31 QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)
|  | Quarters Ended |
|  | December 31, 2011 |  |  | September 30, 2011 |  |  | June 30, 2011 |  |  | March 31, 2011 |
Revenue |  | $ | 156,625 |  |  | $ | 122,462 |  |  | $ | 105,837 |  |  | $ | 111,006 |
Operating expenses (1) |  |  | 90,481 |  |  |  | 65,650 |  |  |  | 42,254 |  |  |  | 41,199 |
Income from operations |  |  | 66,144 |  |  |  | 56,812 |  |  |  | 63,583 |  |  |  | 69,807 |
Other expense |  |  | (47,625 | ) |  |  | (27,861 | ) |  |  | (22,547 | ) |  |  | (35,318 | )
Income from continuing operations before income taxes |  |  | 18,519 |  |  |  | 28,951 |  |  |  | 41,036 |  |  |  | 34,489 |
Income tax expense (benefit) |  |  | 8,864 |  |  |  | 8,730 |  |  |  | 14,653 |  |  |  | 12,425 |
Income from continuing operations |  |  | 9,655 |  |  |  | 20,221 |  |  |  | 26,383 |  |  |  | 22,064 |
Income (loss) from discontinued operations, net of taxes |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Net income |  |  | 9,655 |  |  |  | 20,221 |  |  |  | 26,383 |  |  |  | 22,064 |
Net loss (income) attributable to non-controlling interests |  |  | (4 | ) |  |  | 7 |  |  |  | (5 | ) |  |  | 10 |
Net income attributable to OCN |  | $ | 9,651 |  |  | $ | 20,228 |  |  | $ | 26,378 |  |  | $ | 22,074 |
Basic earnings per share |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Income from continuing operations |  | $ | 0.08 |  |  | $ | 0.20 |  |  | $ | 0.26 |  |  | $ | 0.22 |
Income from discontinued operations |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Net income attributable to OCN |  | $ | 0.08 |  |  | $ | 0.20 |  |  | $ | 0.26 |  |  | $ | 0.22 |
Diluted earnings per share |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Income from continuing operations |  | $ | 0.08 |  |  | $ | 0.19 |  |  | $ | 0.25 |  |  | $ | 0.21 |
Income from discontinued operations |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Net income attributable to OCN |  | $ | 0.08 |  |  | $ | 0.19 |  |  | $ | 0.25 |  |  | $ | 0.21 |
|  | Quarters Ended |
|  | December 31, 2010 |  |  | September 30, 2010 |  |  | June 30, 2010 |  |  | March 31, 2010 |
Revenue |  | $ | 113,273 |  |  | $ | 95,569 |  |  | $ | 75,953 |  |  | $ | 75,586 |
Operating expenses (2)(3) |  |  | 63,265 |  |  |  | 93,374 |  |  |  | 44,658 |  |  |  | 35,177 |
Income from operations |  |  | 50,008 |  |  |  | 2,195 |  |  |  | 31,295 |  |  |  | 40,409 |
Other expense |  |  | (34,849 | ) |  |  | (22,907 | ) |  |  | (18,033 | ) |  |  | (8,964 | )
Income (loss) from continuing operations before income taxes |  |  | 15,159 |  |  |  | (20,712 | ) |  |  | 13,262 |  |  |  | 31,445 |
Income tax expense (benefit) |  |  | 5,235 |  |  |  | (7,487 | ) |  |  | (2,777 | ) |  |  | 10,574 |
Income (loss) from continuing operations |  |  | 9,924 |  |  |  | (13,225 | ) |  |  | 16,039 |  |  |  | 20,871 |
Income from discontinued operations, net of taxes |  |  | — |  |  |  | 4,383 |  |  |  | — |  |  |  | — |
Net income (loss) |  |  | 9,924 |  |  |  | (8,842 | ) |  |  | 16,039 |  |  |  | 20,871 |
Net loss (income) attributable to non-controlling interests |  |  | (3 | ) |  |  | 7 |  |  |  | (1 | ) |  |  | (11 | )
Net income (loss) attributable to OCN |  | $ | 9,921 |  |  | $ | (8,835 | ) |  | $ | 16,038 |  |  | $ | 20,860 |
Basic earnings per share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Income (loss)from continuing operations |  | $ | 0.10 |  |  | $ | (0.13 | ) |  | $ | 0.16 |  |  | $ | 0.21 |
Income from discontinued operations |  |  | — |  |  |  | 0.04 |  |  |  | — |  |  |  | — |
Net income (loss) attributable to OCN |  | $ | 0.10 |  |  | $ | (0.09 | ) |  | $ | 0.16 |  |  | $ | 0.21 |
Diluted earnings per share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Income (loss) from continuing operations |  | $ | 0.09 |  |  | $ | (0.13 | ) |  | $ | 0.15 |  |  | $ | 0.20 |
Income from discontinued operations |  |  | — |  |  |  | 0.04 |  |  |  | — |  |  |  | — |
Net income (loss) attributable to OCN |  | $ | 0.09 |  |  | $ | (0.09 | ) |  | $ | 0.15 |  |  | $ | 0.20 |
(1) | Operating expenses for 2011 include non-recurring costs of $50,340 that we incurred as a result of the Litton Acquisition, including $472, $18,746 and $31,122 in the second, third and fourth quarters, respectively. See Note 2 for additional information on the Litton Acquisition.
(2) | As a result of the HomEq Acquisition, we incurred non-recurring costs of $52,603 during 2010, including $1,250, $33,901 and $17,452 in the second, third and fourth quarters, respectively. See Note 2 for additional information on the HomEq Acquisition.
(3) | In connection with litigation matters, we established $24,166 of additional reserves in 2010, including $5,163 in the second quarter, $18,413 in the third quarter and $590 in the fourth quarter. See Note 30 for additional information on litigation.

X
- Definition The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 6 -Section G -Subsection 1 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6372559&loc=d3e725-108305 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 28 -Paragraph 23, 24 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=6372559&loc=d3e765-108305 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 28 -Paragraph 30 -Subparagraph a-j -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 302 -Paragraph a Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a)-(j) -URI http://asc.fasb.org/extlink&oid=6952194&loc=d3e1280-108306 + Details
Name: | us-gaap_QuarterlyFinancialInformationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration