XML 68 R53.htm IDEA: XBRL DOCUMENT v3.22.4

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Schedule of Income Before Taxes

For income tax purposes, the components of income (loss) from continuing operations before taxes were as follows:

			Years Ended December 31,
			2022						2021						2020
Domestic			$	14.0					(13.9)						(118.0)
Foreign			10.9						9.5						12.4
			$	24.9					$	(4.4)					$	(105.7)

Schedule of Components of Income Tax Expense (Benefit)

The components of income tax expense (benefit) were as follows:

			Years Ended December 31,
			2022						2021						2020
Current:
Federal			$	0.2					$	(20.1)					$	(67.1)
State			(0.8)						(1.3)						0.3
Foreign			(0.2)						1.6						2.6
			(0.8)						(19.8)						(64.2)
Deferred:
Federal			4.7						(2.3)						(26.0)
State			(0.7)						—						(2.1)
Foreign			0.6						0.2						(1.4)
Provision for (reversal of) valuation allowance on deferred tax assets			(3.9)						2.3						28.2
			0.7						0.2						(1.3)
Other			(0.7)						(2.8)						—
Total			$	(0.8)					$	(22.4)					$	(65.5)

Schedule of Effective Income Tax Reconciliation

Income tax expense (benefit) differs from the amounts computed by applying the U.S. Federal corporate income tax rate as follows:

			Years Ended December 31,
			2022						2021						2020
Expected income tax expense (benefit) at statutory rate			$	5.2					$	(0.9)					$	(22.2)
Differences between expected and actual income tax expense:
CARES Act			(0.1)						(12.6)						(79.0)
Provision for (reversal of) valuation allowance on deferred tax assets			(3.9)						2.3						28.2
Provision for (reversal of) liability for uncertain tax positions			(3.4)						(8.7)						13.1
Interest on refund claims due from tax authorities			(0.7)						(2.8)						—
Other provision to return differences			(0.2)						(1.0)						(3.3)
Foreign tax differential including effectively connected income (1)			2.3						1.4						(2.5)
State tax, after Federal tax benefit			(0.3)						0.2						(1.4)
Benefit of state NOL carryback claims and amended return filings			(1.2)						(1.8)						—
Executive compensation disallowance			1.6						1.4						0.6
Excess tax benefits from share-based compensation			(0.4)						(0.5)						0.4
Other permanent differences			0.1						0.2						0.4
Foreign tax credit (generation) utilization			0.1						—						—
U.S. Tax Reform - Global Intangible Low-Taxed Income (GILTI) inclusion			0.1						0.2						0.2
Other			—						0.2						0.1
Actual income tax expense (benefit)			$	(0.8)					$	(22.4)					$	(65.5)

Schedule of Deferred Tax Assets and Liabilities

Net deferred tax assets were comprised of the following:

			December 31,
			2022						2021
Deferred tax assets
Net operating loss carryforwards - federal and foreign			$	107.9					$	54.6
Net operating loss carryforwards and credits - state and local			90.3						70.7
Interest expense disallowance			72.6						39.3
Reserve for servicing exposure			5.7						6.8
Accrued legal settlements			10.0						9.9
Partnership losses			5.4						8.6
Stock-based compensation expense			10.4						9.9
Accrued incentive compensation			3.7						6.7
Accrued other liabilities			5.4						5.9
Lease liabilities			1.0						2.5
Intangible asset amortization			6.3						5.0
Foreign deferred assets			3.2						3.8
Tax residuals and deferred income on tax residuals			1.5						1.5
Bad debt and allowance for loan losses			8.2						4.0
Other			4.1						5.1
			335.7						$	234.1
Deferred tax liabilities
Mortgage servicing rights amortization			153.1						57.3
Other			1.5						1.3
			154.6						58.6
			181.1						175.4
Valuation allowance			(178.5)						(172.1)
Deferred tax assets, net			$	2.6					$	3.3

Schedule of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amounts of the total unrecognized tax benefits for uncertain tax position is as follows:

			Years Ended December 31,
			2022						2021						2020
Beginning balance			$	11.5					$	20.6					$	10.6
Additions for tax positions of current year			—						—						—
Additions for tax positions of prior years			—						0.2						15.2
Reductions for tax positions of prior years			—						(6.4)						(0.2)
Reductions for settlements			(2.1)						(0.6)						(3.1)
Lapses in statute of limitations			(0.7)						(2.4)						(1.9)
Ending balance (1)			$	8.7					$	11.5					$	20.6

(1)At December 31, 2022 and 2021, $8.7 million and $11.3 million, respectively, of the balance is included in the Liability for uncertain tax positions in Other liabilities, with $0.2 million at December 31, 2021 included as a reduction of Income taxes receivable in Receivables.

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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32639-109319

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types: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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types: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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32687-109319

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types: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/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(1)(Note 1))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Name:	us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types: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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 15A
-URI https://asc.fasb.org/extlink&oid=121826272&loc=SL6600010-109319

+ Details

Name:	us-gaap_ScheduleOfUnrecognizedTaxBenefitsExcludingAmountsPertainingToExaminedTaxReturnsRollForwardTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration