EQUITY AND EARNINGS PER SHARE (Tables)

12 Months Ended

Dec. 31, 2014

Equity and Earnings Per Share [Abstract]

Summary of Common Dividends Declared

Common dividends have been declared as follows:

		Per Share
Declaration Date	Payment Date	Quarterly Dividend		Special Dividend		Total Dividend		Total Amounts Distributed (millions)
June 3, 2013	July 31, 2013	$	0.14	$	—	$	0.14	$	17.7
September 18, 2013	October 31, 2013	0.35		—		0.35		44.3
December 17, 2013	January 31, 2014	0.35		0.15		0.50		63.3
March 19, 2014	April 30, 2014	0.35		—		0.35		44.3
June 17, 2014	July 31, 2014	0.35		0.15		0.50		70.6
September 18, 2014	October 31, 2014	0.35		—		0.35		49.5
December 18, 2014	January 30, 2015	0.38		—		0.38		53.7

Summary of Outstanding Options

New Residential’s outstanding options were summarized as follows:

	December 31, 2014			December 31, 2013
	Issued Prior to 2011	Issued in 2011- 2014	Total	Issued Prior to 2011	Issued in 2011 - 2013	Total
Held by the Manager	473,377	8,432,597	8,905,974	748,277	8,088,167	8,836,444
Issued to the Manager and subsequently    transferred to certain of the Manager’s    employees	125,622	1,700,497	1,826,119	267,785	1,255,000	1,522,785
Issued to the independent directors	1,000	4,000	5,000	1,000	5,000	6,000
Total	599,999	10,137,094	10,737,093	1,017,062	9,348,167	10,365,229

The following table summarizes New Residential’s outstanding options as of December 31, 2014. The last sales price on the New York Stock Exchange for New Residential’s common stock in the year ended December 31, 2014 was $12.77 per share.

Recipient	Date of Grant/ Exercise(A)	Number of Options		Options Exercisable as of December 31, 2014	Weighted Average Exercise Price(B)		Intrinsic Value as of December 31, 2014 (millions)
Directors	Various	6,000		5,000	$	17.54	$	—
Manager(C)	2003 - 2007	1,226,555		598,999	31.52		—
Manager(C)	Mar-11	838,417		547,583	6.58		3.4
Manager(C)	Sep-11	1,269,917		849,916	4.98		6.6
Manager(C)	Apr-12	948,750		920,983	6.82		5.5
Manager(C)	May-12	1,150,000		1,117,333	7.34		6.1
Manager(C)	Jul-12	1,265,000		1,192,344	7.34		6.6
Manager(C)	Jan-13	2,875,000		2,204,165	10.24		5.6
Manager(C)	Feb-13	1,150,000		843,332	11.48		1.1
Manager(C)	Apr-14	1,437,500		383,333	12.20		0.2
Exercised(D)	2013-2014	(802,492	)	N/A	5.81		N/A
Expired unexercised	2003 - 2004	(627,554	)	N/A	N/A		N/A
Outstanding		10,737,093		8,662,988

(A) Options expire on the tenth anniversary from date of grant.

(B) The strike prices are subject to adjustment in connection with return of capital dividends.

(C) The Manager assigned certain of its options to Fortress’s employees as follows:

Date of Grant	Range of Strike Prices	Total Unexercised Inception to Date
2004 - 2007	$29.92 to $33.80	125,622
2012	$6.82 to $7.34	600,000
2013	$10.24 to $11.48	1,100,497
Total		1,826,119

(D) Exercised by employees of Fortress, subsequent to their assignment, or by directors. The options exercised had an intrinsic value of $4.5 million.