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SUMMARY OF QUARTERLY INFORMATION (UNAUDITED)
 12 Months Ended
Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]  
SUMMARY OF QUARTERLY INFORMATION (UNAUDITED)
SUMMARY OF QUARTERLY INFORMATION (UNAUDITED)
The following is a presentation of the results of operations for the years ended December 31, 2015 and 2014:
 
 
Successor Company
 
 
2015
(amounts in thousands)
 
Fourth
Quarter
 
Third
Quarter
 
Second
Quarter
 
First
Quarter
Total revenues
 
$
82,670

 
$
89,109

 
$
105,691

 
$
97,786

Total investment costs and expenses
 
53,202

 
50,352

 
62,450

 
57,653

Total other income (loss)
 
(186,065
)
 
(185,449
)
 
8,035

 
(69,164
)
Total other expenses
 
11,457

 
11,547

 
12,269

 
17,168

Income (loss) before income taxes
 
(168,054
)
 
(158,239
)
 
39,007

 
(46,199
)
Income tax expense (benefit)
 
20

 
94

 
729

 
347

Net income (loss)
 
$
(168,074
)
 
$
(158,333
)
 
$
38,278

 
$
(46,546
)
Net income (loss) attributable to noncontrolling interests
 
(7,977
)
 
(6,676
)
 
(2,705
)
 
(6,071
)
Net income (loss) attributable to KKR Financial Holdings LLC and subsidiaries
 
(160,097
)
 
(151,657
)
 
40,983

 
(40,475
)
Preferred share distributions
 
6,891

 
6,891

 
6,891

 
6,891

Net income (loss) available to common shares
 
$
(166,988
)
 
$
(158,548
)
 
$
34,092

 
$
(47,366
)

 
 
Successor Company
 
 
Predecessor Company
 
 
2014
 
 
2014
(amounts in thousands, except per share information)
 
Fourth
Quarter
 
Third
Quarter
 
Two months
ended
June 30
 
 
One month
ended
April 30
 
First
Quarter
Total revenues
 
$
131,276

 
$
124,756

 
$
94,313

 
 
$
76,652

 
$
140,590

Total investment costs and expenses
 
64,132

 
61,340

 
55,664

 
 
28,055

 
73,770

Total other income (loss)
 
(239,584
)
 
(125,685
)
 
20,887

 
 
(16,506
)
 
72,840

Total other expenses
 
14,310

 
14,898

 
14,364

 
 
34,151

 
31,458

Income (loss) before income taxes
 
(186,750
)
 
(77,167
)
 
45,172

 
 
(2,060
)
 
108,202

Income tax expense (benefit)
 
422

 
34

 
28

 
 
143

 
19

Net income (loss)
 
$
(187,172
)
 
$
(77,201
)
 
$
45,144

 
 
$
(2,203
)
 
$
108,183

Net income (loss) attributable to noncontrolling interests
 
(6,772
)
 
816

 
—

 
 
—

 
—

Net income (loss) attributable to KKR Financial Holdings LLC and subsidiaries
 
(180,400
)
 
(78,017
)
 
45,144

 
 
(2,203
)
 
108,183

Preferred share distributions
 
6,891

 
6,891

 
6,891

 
 
—

 
6,891

Net income (loss) available to common shares
 
$
(187,291
)
 
$
(84,908
)
 
$
38,253

 
 
$
(2,203
)
 
$
101,292

Net income (loss) per common share:
 
 
 
 
 
 
 
 
 
 
 
  Basic
 
N/A

 
N/A

 
N/A

 
 
$
(0.01
)
 
$
0.49

  Diluted
 
N/A

 
N/A

 
N/A

 
 
$
(0.01
)
 
$
0.49

Weighted average number of common shares outstanding:
 
 
 
 
 
 
 
 
 
 
 
  Basic
 
N/A

 
N/A

 
N/A

 
 
204,398

 
204,236

  Diluted
 
N/A

 
N/A

 
N/A

 
 
204,398

 
204,236