XML 89 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Thousands, except Share data, unless otherwise specified
 3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Revenue    
Servicing and subservicing fees $ 490,459 $ 369,309
Gain on loans held for sale, net 43,987 6,749
Other revenues 16,815 30,601
Total revenue 551,261 406,659
Operating expenses    
Compensation and benefits 105,637 94,626
Amortization of mortgage servicing rights 62,094 47,883
Servicing and origination 43,947 23,913
Technology and communications 36,976 30,012
Professional services 21,398 14,065
Occupancy and equipment 32,051 18,249
Other operating expenses 47,091 14,778
Total operating expenses 349,194 243,526
Income from operations 202,067 163,133
Other income (expense)    
Interest expense (122,616) (93,416)
Gain (loss) on debt redemption 2,253 (17,030)
Other, net 7,256 (1,352)
Total other expense, net (113,107) (111,798)
Income before income taxes 88,960 51,335
Income tax expense 13,129 6,188
Net income 75,831 45,147
Net loss attributable to non-controlling interests 15 0
Net income attributable to Ocwen stockholders 75,846 45,147
Preferred stock dividends (581) (1,485)
Deemed dividends related to beneficial conversion feature of preferred stock (416) (1,086)
Net income attributable to Ocwen common stockholders $ 74,849 $ 42,576
Earnings per share attributable to Ocwen common stockholders    
Basic (usd per share) $ 0.55 $ 0.31
Diluted (usd per share) $ 0.54 $ 0.31
Weighted average common shares outstanding    
Basic (in shares) 135,227,067 135,638,567
Diluted (in shares) 141,089,455 139,559,157