EQUITY AND EARNINGS PER SHARE (Tables)

12 Months Ended

Dec. 31, 2015

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 2013	$	0.14	$	—	$	0.14	$	17.7
September 18, 2013	October 2013	0.35		—		0.35		44.3
December 17, 2013	January 2014	0.35		0.15		0.50		63.3
March 19, 2014	April 2014	0.35		—		0.35		44.3
June 17, 2014	July 2014	0.35		0.15		0.50		70.6
September 18, 2014	October 2014	0.35		—		0.35		49.5
December 18, 2014	January 2015	0.38		—		0.38		53.7
March 16, 2015	April 2015	0.38		—		0.38		53.7
May 14, 2015	July 2015	0.45		—		0.45		89.5
September 18, 2015	October 2015	0.46		—		0.46		106.0
December 10, 2015	January 2016	0.46		—		0.46		106.0

Summary of Outstanding Options

New Residential’s outstanding options were summarized as follows:

	December 31, 2015			December 31, 2014
	Issued Prior to 2011	Issued in 2011- 2015	Total	Issued Prior to 2011	Issued in 2011 - 2014	Total
Held by the Manager	345,720	10,582,860	10,928,580	473,377	8,432,597	8,905,974
Issued to the Manager and subsequently transferred to certain of the Manager’s employees	88,280	1,359,247	1,447,527	125,622	1,700,497	1,826,119
Issued to the independent directors	—	4,000	4,000	1,000	4,000	5,000
Total	434,000	11,946,107	12,380,107	599,999	10,137,094	10,737,093

The following table summarizes New Residential’s outstanding options as of December 31, 2015. The last sales price on the New York Stock Exchange for New Residential’s common stock in the year ended December 31, 2015 was $12.16 per share.

Recipient	Date of Grant/ Exercise(A)	Number of Unexercised Options	Options Exercisable as of December 31, 2015	Weighted Average Exercise Price(B)		Intrinsic Value of Exercisable Options as of December 31, 2015 (millions)
Directors	Various	4,000	4,000	$	13.58	$	—
Manager(C)	2003 - 2007	434,000	434,000	31.36		—
Manager(C)	2011 - 2012	25,000	25,000	7.19		0.1
Manager(C)	2013	1,936,068	1,936,068	10.98		2.3
Manager(C)	2014	1,437,500	958,333	12.20		—
Manager(C)	2015	8,543,539	2,092,041	15.46		—
Outstanding		12,380,107	5,449,442

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

(B) The exercise 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 Exercise Prices	Total Unexercised Inception to Date
2004 - 2007	$29.92 to $33.80	88,280
2013	$10.24 to $11.48	1,100,497
2014	$12.20	258,750
Total		1,447,527

The following table summarizes activity in our outstanding options:

	Amount		Weighted Average Exercise Price
December 31, 2013 outstanding options	10,365,229
Options granted	1,437,500		$	12.20
Options exercised(A)	(648,573	)	$	5.72
Options expired unexercised	(417,063	)
December 31, 2014 outstanding options	10,737,093
Options granted	8,543,539		$	15.46
Options exercised(A)	(6,734,525	)	$	7.81
Options expired unexercised	(166,000	)
December 31, 2015 outstanding options	12,380,107		See table above

(A) The 6.7 million and 0.6 million options that were exercised in 2015 and 2014 had an intrinsic value of approximately $59.4 million and $4.5 million, respectively, at the date of exercise.