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Quarterly Results of Operations (Unaudited) | 12 Months Ended
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Dec. 31, 2014
Quarterly Financial Information Disclosure [Abstract] |
Quarterly Results of Operations (Unaudited) | Note 29 — Quarterly Results of Operations (Unaudited)
| Quarters Ended
| December 31, 2014 |  | September 30, 2014 |  | June 30, 2014 |  | March 31, 2014
Revenue | $ | 493,292 |  |  | $ | 513,698 |  |  | $ | 553,074 |  |  | $ | 551,261 |
Operating expenses (1) (2) | 885,512 |  |  | 455,039 |  |  | 345,463 |  |  | 349,194 |
Income (loss) from operations | (392,220 | ) |  | 58,659 |  |  | 207,611 |  |  | 202,067 |
Other expense | (127,553 | ) |  | (130,925 | ) |  | (130,434 | ) |  | (130,364 | )
Income (loss) before income taxes | (519,773 | ) |  | (72,266 | ) |  | 77,177 |  |  | 71,703 |
Income tax expense | 2,022 |  |  | 2,992 |  |  | 10,165 |  |  | 11,217 |
Net income (loss) | (521,795 | ) |  | (75,258 | ) |  | 67,012 |  |  | 60,486 |
Net (income) loss attributable to non-controlling interests | (80 | ) |  | (123 | ) |  | (57 | ) |  | 15 |
Net income (loss) attributable to Ocwen stockholders | (521,875 | ) |  | (75,381 | ) |  | 66,955 |  |  | 60,501 |
Preferred stock dividends | — |  |  | — |  |  | (582 | ) |  | (581 | )
Deemed dividend related to beneficial conversion feature of preferred stock | — |  |  | (808 | ) |  | (415 | ) |  | (416 | )
Net income (loss) attributable to Ocwen common stockholders | $ | (521,875 | ) |  | $ | (76,189 | ) |  | $ | 65,958 |  |  | $ | 59,504 |
Earnings (loss) per share attributable to Ocwen common stockholders |  |  |  |  |  |  |
Basic | $ | (4.16 | ) |  | $ | (0.58 | ) |  | $ | 0.49 |  |  | $ | 0.44 |
Diluted | $ | (4.16 | ) |  | $ | (0.58 | ) |  | $ | 0.48 |  |  | $ | 0.43 |
| Quarters Ended
| December 31, 2013 |  | September 30, 2013 |  | June 30, 2013 |  | March 31, 2013
Revenue | $ | 555,955 |  |  | $ | 531,240 |  |  | $ | 544,812 |  |  | $ | 406,266 |
Operating expenses (3) | 340,876 |  |  | 346,260 |  |  | 371,508 |  |  | 242,650 |
Income from operations | 215,079 |  |  | 184,980 |  |  | 173,304 |  |  | 163,616 |
Other expense | (61,495 | ) |  | (115,535 | ) |  | (99,146 | ) |  | (108,324 | )
Income before income taxes | 153,584 |  |  | 69,445 |  |  | 74,158 |  |  | 55,292 |
Income tax expense | 18,309 |  |  | 8,873 |  |  | 8,496 |  |  | 6,383 |
Net income | 135,275 |  |  | 60,572 |  |  | 65,662 |  |  | 48,909 |
Preferred stock dividends | (581 | ) |  | (1,446 | ) |  | (1,519 | ) |  | (1,485 | )
Deemed dividend related to beneficial conversion feature of preferred stock | (416 | ) |  | (4,401 | ) |  | (1,086 | ) |  | (1,086 | )
Net income attributable to Ocwen common stockholders | $ | 134,278 |  |  | $ | 54,725 |  |  | $ | 63,057 |  |  | $ | 46,338 |
Earnings per share attributable to Ocwen common stockholders |  |  |  |  |  |  |
Basic | $ | 0.99 |  |  | $ | 0.40 |  |  | $ | 0.46 |  |  | $ | 0.34 |
Diluted | $ | 0.95 |  |  | $ | 0.39 |  |  | $ | 0.45 |  |  | $ | 0.33 |
(1) | Operating expenses for the third and fourth quarter of 2014 include charges of $100.0 million and $50.0 million, respectively, for losses related to a regulatory settlement with the NY DFS. These charges are included in Professional services on the Consolidated Statement of Operations and were recorded in the Corporate Items and Other segment.
(2) | Operating expenses for the fourth quarter of 2014 include the recognition of a goodwill impairment loss of $420.2 million.
(3) | Operating expenses for the second quarter of 2013 include a $52.8 million charge recorded in connection with the Ocwen National Mortgage Settlement. This charge is included in Professional services on the Consolidated Statement of Operations and is recorded in the Corporate Items and Other segment.

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- 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 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 2: 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=35737889&loc=d3e1280-108306 Reference 3: 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 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 6 -Section G -Subsection 1 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 302 -Paragraph a + Details
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