Payables and Accrued Liabilities (Tables)

12 Months Ended

Dec. 31, 2018

Schedule of Payables and Accrued Liabilities

Payables and accrued liabilities consist of the following (in thousands):



	Successor		Predecessor
	December 31, 2018		December 31, 2017
Loans subject to repurchase from Ginnie Mae	$	466,452	$	542,398
Accounts payable and accrued liabilities	109,696		129,731
Curtailment liability	99,781		140,905
Employee-related liabilities	45,480		52,097
Loan repurchase obligation	29,360		31,704
Originations liability	28,240		25,613
Accrued interest payable	18,833		33,322
Derivative instruments	13,737		1,250
Servicing rights and related advance purchases payable	12,615		14,923
Uncertain tax positions	3,660		5,601
Other	40,168		42,756
Subtotal	868,022		1,020,300
Less: Liabilities subject to compromise⁽¹⁾	—		25,807
Total payables and accrued liabilities	$	868,022	$	994,493

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(1)	Liabilities subject to compromise consist of accrued interest related to the Senior Notes and Convertibles Notes. Refer to Note 2 for additional information.

Schedule of Restructuring Reserve by Type of Cost

The following table presents the current period activity in the accrued exit liability resulting from each of the 2016 and Prior Actions, 2017 Actions and 2018 Actions described above, which is included in payables and accrued liabilities on the consolidated balance sheets, and the related charges and cash payments and other settlements associated with these actions (in thousands):



	Successor
	For the Period From February 10, 2018 Through December 31, 2018
	2016 and Prior Actions			2017 Actions			2018 Actions			Total
Balance at February 10, 2018	$	472		$	14,837		$	616		$	15,925
Charges
Severance and related costs⁽¹⁾	34			(118		)	6,940			6,856
Office closures and other costs⁽¹⁾	(107		)	1,536			4,797			6,226
Total charges	(73		)	1,418			11,737			13,082
Cash payments or other settlements
Severance and related costs	(127		)	(1,495		)	(5,609		)	(7,231		)
Office closures and other costs	(242		)	(3,525		)	(272		)	(4,039		)
Total cash payments or other settlements	(369		)	(5,020		)	(5,881		)	(11,270		)
Balance at December 31, 2018	$	30		$	11,235		$	6,472		$	17,737

Cumulative charges incurred
Severance and related costs	$	26,987		$	9,013		$	7,567		$	43,567
Office closures and other costs	10,358			14,969			4,797			30,124
Total cumulative charges incurred	$	37,345		$	23,982		$	12,364		$	73,691

Total expected costs to be incurred	$	37,345		$	23,982		$	13,998		$	75,325




	Predecessor
	For the Period From January 1, 2018 Through February 9, 2018
	2016 and Prior Actions			2017 Actions			2018 Actions			Total
Balance at January 1, 2018	$	540		$	15,955		$	—		$	16,495
Charges
Severance and related costs⁽¹⁾	(21		)	72			627			678
Office closures and other costs⁽¹⁾	19			234			—			253
Total charges, net	(2		)	306			627			931
Cash payments or other settlements
Severance and related costs	—			(948		)	(11		)	(959		)
Office closures and other costs	(66		)	(476		)	—			(542		)
Total cash payments or other settlements	(66		)	(1,424		)	(11		)	(1,501		)
Balance at February 9, 2018	$	472		$	14,837		$	616		$	15,925

__________


(1)	Includes adjustments to prior year accruals resulting from changes to previous estimates.

Schedule of Restructuring Reserve by Reportable Segment

The following table presents the current period activity for each of the 2016 and Prior Actions, 2017 Actions, and 2018 Actions described above by reportable segment (in thousands):



	Successor
	For the Period From February 10, 2018 Through December 31, 2018
	Servicing			Originations			Reverse Mortgage			Corporate and Other			Total Consolidated
Balance at February 10, 2018
2016 and Prior Actions	$	289		$	68		$	18		$	97		$	472
2017 Actions	13,718			44			387			688			14,837
2018 Actions	527			16			27			46			616
Total balance at February 10, 2018	14,534			128			432			831			15,925
Charges
2016 and Prior Actions⁽¹⁾	(66		)	(41		)	34			—			(73		)
2017 Actions⁽¹⁾	1,591			(8		)	(84		)	(81		)	1,418
2018 Actions	3,707			5,770			472			1,788			11,737
Total charges, net	5,232			5,721			422			1,707			13,082
Cash payments or other settlements
2016 and Prior Actions	(215		)	(27		)	(30		)	(97		)	(369		)
2017 Actions	(4,109		)	(36		)	(303		)	(572		)	(5,020		)
2018 Actions	(2,042		)	(1,805		)	(499		)	(1,535		)	(5,881		)
Total cash payments or other settlements	(6,366		)	(1,868		)	(832		)	(2,204		)	(11,270		)
Balance at December 31, 2018
2016 and Prior Actions	8			—			22			—			30
2017 Actions	11,200			—			—			35			11,235
2018 Actions	2,192			3,981			—			299			6,472
Total balance at December 31, 2018	$	13,400		$	3,981		$	22		$	334		$	17,737

Total cumulative charges incurred
2016 and Prior Actions	$	18,001		$	5,590		$	7,175		$	6,579		$	37,345
2017 Actions	19,398			895			1,222			2,467			23,982
2018 Actions	4,234			5,797			499			1,834			12,364
Total cumulative charges incurred	$	41,633		$	12,282		$	8,896		$	10,880		$	73,691

Total expected costs to be incurred
2016 and Prior Actions	$	18,001		$	5,590		$	7,175		$	6,579		$	37,345
2017 Actions	19,398			895			1,222			2,467			23,982
2018 Actions	5,542			5,797			499			2,160			13,998
Total expected costs to be incurred	$	42,941		$	12,282		$	8,896		$	11,206		$	75,325




	Predecessor
	For the Period From January 1, 2018 Through February 9, 2018
	Servicing			Originations			Reverse Mortgage			Corporate and Other			Total Consolidated
Balance at January 1, 2018
2016 and Prior Actions⁽²⁾	$	348		$	77		$	18		$	97		$	540
2017 Actions⁽²⁾	14,317			91			483			1,064			15,955
2018 Actions⁽²⁾	—			—			—			—			—
Total balance at January 1, 2018⁽²⁾	14,665			168			501			1,161			16,495
Charges
2016 and Prior Actions⁽¹⁾	(5		)	3			—			—			(2		)
2017 Actions⁽¹⁾	289			16			2			(1		)	306
2018 Actions	527			27			27			46			627
Total charges, net	811			46			29			45			931
Cash payments or other settlements
2016 and Prior Actions	(54		)	(12		)	—			—			(66		)
2017 Actions	(888		)	(63		)	(98		)	(375		)	(1,424		)
2018 Actions	—			(11		)	—			—			(11		)
Total cash payments or other settlements	(942		)	(86		)	(98		)	(375		)	(1,501		)
Balance at February 9, 2018
2016 and Prior Actions	289			68			18			97			472
2017 Actions	13,718			44			387			688			14,837
2018 Actions	527			16			27			46			616
Total balance at February 9, 2018	$	14,534		$	128		$	432		$	831		$	15,925

__________


(1)	Includes adjustments to prior year accruals resulting from changes to previous estimates.


(2)	Effective January 1, 2018, the Company no longer allocates corporate overhead to its operating segments. These amounts are now included in the Corporate and Other non-reportable segment. Prior year balances have been restated to conform to current year presentation.