XML 29 R112.htm IDEA: XBRL DOCUMENT v2.4.0.8
NOTE 21 BASIC AND DILUTED EARNINGS PER SHARE (EPS) (Detail) - (Table 1) (USD $)
In Thousands, except Share data, unless otherwise specified
 3 Months Ended 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Sep. 30, 2012
Basic EPS:        
Net income attributable to Ocwen common stockholders (in dollars) $ 61,155 $ 51,400 $ 177,847 $ 115,582
Weighted average shares of common stock 135,787,834 134,928,486 135,705,892 133,483,354
Basic EPS $ 0.45 $ 0.38 $ 1.31 $ 0.87
Diluted EPS:        
Net income attributable to Ocwen common stockholders (in dollars) 61,155 51,400 177,847 115,582
Preferred stock dividends    [1]    [1]    [1]    [1]
Interest expense on Convertible Notes, net of income tax (in dollars)    [2]    [2]    [2] 98 [2]
Adjusted net income attributable to Ocwen (in dollars) $ 61,155 $ 51,400 $ 177,847 $ 115,680
Weighted average shares of common stock 135,787,834 134,928,486 135,705,892 133,483,354
Effect of dilutive elements:        
Preferred Shares    [1]    [1]    [1]    [1]
Convertible Notes    [2]    [2]    [2] 1,347,642 [2]
Stock options 4,263,965 3,769,099 4,030,297 3,468,156
Common stock awards 5,396 5,296 11,301 2,713
Dilutive weighted average shares of common stock 140,057,195 138,702,881 139,747,490 138,301,865
Diluted EPS (in dollars per share) $ 0.44 $ 0.37 $ 1.27 $ 0.84
Stock options excluded from the computation of diluted EPS:        
Anti-dilutive    [3] 255,000 [3]    [3] 190,833 [3]
Market-based 547,500 [4] 1,726,250 [4] 547,500 [4] 1,726,250 [4]
[1] The effect of our Preferred Shares on diluted EPS is computed using the if-converted method. For the three and nine months ended September 30, 2013, we assumed no conversion to common shares because the effect was anti-dilutive.
[2] Prior to the redemption of the 3.25% Convertible Notes in March 2012, we also computed their effect on diluted EPS using the if-converted method. Interest expense and related amortization costs applicable to the Convertible Notes, net of income tax, were added back to net income. We assumed the conversion of the Convertible Notes into shares of common stock for purposes of computing diluted EPS unless the effect was anti-dilutive. We issued 4,635,159 shares of common stock upon conversion of $56.4 million of the Convertible Notes.
[3] These stock options were anti-dilutive because their exercise price was greater than the average market price of our stock.
[4] Shares that are issuable upon the achievement of certain performance criteria related to OCN's stock price and an annualized rate of return to investors.