XML 72 R55.htm IDEA: XBRL DOCUMENT
v3.7.0.1

Income Taxes (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2016
Income Tax Disclosure [Abstract] |
Schedule of Income Before Taxes | For income tax purposes, the components of loss before taxes were as follows for the years ended December 31:
| 2016 |  | 2015 |  | 2014
Domestic | $ | (130,920 | ) |  | $ | (62,903 | ) |  | $ | (401,741 | )
Foreign | (75,441 | ) |  | (66,958 | ) |  | (41,418 | )
| $ | (206,361 | ) |  | $ | (129,861 | ) |  | $ | (443,159 | )
Schedule of Components of Income Tax Expense (Benefit) | The components of income tax expense (benefit) were as follows for the years ended December 31:
| 2016 |  | 2015 |  | 2014
Current: |  |  |  |  |  |  |  |
Federal | $ | (8,025 | ) |  | $ | 46,680 |  |  | $ | (20,824 | )
State | 460 |  |  | 1,079 |  |  | (403 | )
Foreign | 5,099 |  |  | 161 |  |  | 9,195 |
| (2,466 | ) |  | 47,920 |  |  | (12,032 | )
Deferred: |  |  |  |  |  |  |  |
Federal | (22,054 | ) |  | (27,173 | ) |  | 41,986 |
State | 4,701 |  |  | (3,719 | ) |  | (997 | )
Foreign | (2,806 | ) |  | 2,754 |  |  | (6,162 | )
Provision for valuation allowance on deferred tax assets | 15,639 |  |  | 97,069 |  |  | 3,601 |
| (4,520 | ) |  | 68,931 |  |  | 38,428 |
Total | $ | (6,986 | ) |  | $ | 116,851 |  |  | $ | 26,396 |
Schedule of Effective Income Tax Reconciliation | Income tax expense differs from the amounts computed by applying the U.S. Federal corporate income tax rate of 35% as follows for the years ended December 31:
| 2016 |  | 2015 |  | 2014
Expected income tax expense (benefit) at statutory rate | $ | (72,225 | ) |  | $ | (45,451 | ) |  | $ | (155,106 | )
Differences between expected and actual income tax expense: |  |  |  |  |  |  |  |
Impairment of goodwill | — |  |  | — |  |  | 92,034 |
State tax, after Federal tax benefit | 250 |  |  | (2,867 | ) |  | (1,084 | )
Provision for liability for uncertain tax positions | 2,236 |  |  | 18,205 |  |  | 47 |
Provision for liability for intra-entity transactions | 3,357 |  |  | 4,700 |  |  | 6,037 |
Non-deductible regulatory settlements | — |  |  | 700 |  |  | 53,375 |
Other permanent differences | 515 |  |  | (463 | ) |  | (254 | )
Foreign tax differential | 42,463 |  |  | 41,695 |  |  | 27,799 |
Provision for valuation allowance on deferred tax assets (1) | 15,639 |  |  | 97,069 |  |  | 3,601 |
Other | 779 |  |  | 3,263 |  |  | (53 | )
Actual income tax expense (benefit) | $ | (6,986 | ) |  | $ | 116,851 |  |  | $ | 26,396 |
(1) | The provision for valuation allowance in 2016 and 2015 primarily relates to the recording of the valuation allowance on both the U.S. and USVI net deferred tax assets as of December 31, 2016 and 2015. Also included in the provision for valuation allowance in 2015 is the reversal of a portion of the valuation allowance previously recorded on taxable losses earned by OMS which were taxable in the U.S. as effectively connected income (ECI), which is equal to the positive taxable income that is expected to be generated for ECI purposes for the year ended December 31, 2015.
Schedule of Deferred Tax Assets and Liabilities | Net deferred tax assets were comprised of the following at December 31:
| 2016 |  | 2015
Deferred tax assets: |  |  |  |  |
Net operating loss carryforward | $ | 67,657 |  |  | $ | 24,511 |
Mortgage servicing rights amortization | 11,592 |  |  | 15,697 |
Partnership losses | 8,976 |  |  | 10,137 |
Intangible asset amortization | 8,223 |  |  | 10,293 |
Accrued incentive compensation | 8,017 |  |  | 10,107 |
Accrued legal settlements | 9,178 |  |  | 10,519 |
Stock-based compensation expense | 5,659 |  |  | 4,834 |
Accrued other liabilities | 5,543 |  |  | 5,641 |
Foreign deferred assets | 5,219 |  |  | 3,647 |
Foreign tax credit | 4,262 |  |  | — |
Tax residuals and deferred income on tax residuals | 4,037 |  |  | 4,052 |
Bad debt and allowance for loan losses | 3,268 |  |  | 6,227 |
Reserve for servicing exposure | 1,900 |  |  | 3,353 |
Delinquent servicing fees | 1,647 |  |  | 2,360 |
Capital losses | 1,450 |  |  | 1,710 |
Other | 1,872 |  |  | 7,056 |
| 148,500 |  |  | 120,144 |
Deferred tax liabilities: |  |  |  |  |
Foreign undistributed earnings | 13,619 |  |  | 5,421 |
Other | 76 |  |  | 77 |
| 13,695 |  |  | 5,498 |
| 134,805 |  |  | 114,646 |
Valuation allowance | (132,073 | ) |  | (116,434 | )
Deferred tax assets (liabilities), net | $ | 2,732 |  |  | $ | (1,788 | )
Schedule of Unrecognized Tax Benefits | A reconciliation of the beginning and ending amount of the total liability for uncertain tax positions is as follows for the years ended December 31:
| 2016 |  | 2015 |  | 2014
Beginning balance | $ | 32,548 |  |  | $ | 22,523 |  |  | $ | 27,273 |
Additions for tax positions of prior years | — |  |  | 13,162 |  |  | 1,392 |
Reductions for tax positions of prior years | — |  |  | (2,741 | ) |  | (6,010 | )
Reductions for settlements | (14,420 | ) |  | — |  |  | — |
Lapses in statute of limitations | (1,134 | ) |  | (396 | ) |  | (132 | )
Ending balance | $ | 16,994 |  |  | $ | 32,548 |  |  | $ | 22,523 |

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32639-109319 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32537-109319 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32687-109319 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of income before income tax between domestic and foreign jurisdictions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)(1)(i)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 + Details
Name: | us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the change in unrecognized tax benefits, excluding amounts pertaining to examined tax returns. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15A -URI http://asc.fasb.org/extlink&oid=65882285&loc=SL6600010-109319 + Details
Name: | us-gaap_ScheduleOfUnrecognizedTaxBenefitsExcludingAmountsPertainingToExaminedTaxReturnsRollForwardTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration