EQUITY AND EARNINGS PER SHARE (Tables)

12 Months Ended

Dec. 31, 2016

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)
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
March 22, 2016	April 2016	0.46		—		0.46		106.0
June 27, 2016	July 2016	0.46		—		0.46		106.0
September 23, 2016	October 2016	0.46		—		0.46		115.4
December 16, 2016	January 2017	0.46		—		0.46		115.4

Summary of Outstanding Options

The following table summarizes activity in New Residential’s outstanding options:

	Amount		Weighted Average Exercise Price
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
Options granted	2,002,000		$	14.20
Options exercised(A)	(1,100,497	)	$	10.59
Options expired unexercised	(85,000	)
December 31, 2016 outstanding options	13,196,610		See table above

(A) The 1.1 million and 6.7 million options that were exercised in 2016 and 2015 had an intrinsic value of approximately $4.0 million and $59.4 million, respectively, at the date of exercise.

New Residential’s outstanding options were summarized as follows:

	December 31, 2016			December 31, 2015
	Issued Prior to 2011	Issued in 2011 - 2016	Total	Issued Prior to 2011	Issued in 2011 - 2015	Total
Held by the Manager	330,090	10,874,152	11,204,242	345,720	10,582,860	10,928,580
Issued to the Manager and subsequently transferred to certain of the Manager’s employees	18,910	1,967,458	1,986,368	88,280	1,359,247	1,447,527
Issued to the independent directors	—	6,000	6,000	—	4,000	4,000
Total	349,000	12,847,610	13,196,610	434,000	11,946,107	12,380,107

The following table summarizes New Residential’s outstanding options as of December 31, 2016. The last sales price on the New York Stock Exchange for New Residential’s common stock in the year ended December 31, 2016 was $15.72 per share.

Recipient	Date of Grant/ Exercise(A)	Number of Unexercised Options	Options Exercisable as of December 31, 2016	Weighted Average Exercise Price(B)		Intrinsic Value of Exercisable Options as of December 31, 2016 (millions)
Directors	Various	6,000	6,000	$	13.99	$	—
Manager(C)	2007	349,000	349,000	31.27		—
Manager(C)	2012	25,000	25,000	7.19		0.2
Manager(C)	2013	835,571	835,571	11.48		3.5
Manager(C)	2014	1,437,500	1,437,500	12.20		5.1
Manager(C)	2015	8,543,539	5,509,457	15.44		1.5
Manager(C)	2016	2,000,000	266,667	14.20		0.4
Outstanding		13,196,610	8,429,195

(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
2007	$29.92 to $33.80	18,910
2014	$12.20	258,750
2015	$15.25 to $15.88	1,708,708
2016	$14.20	—
Total		1,986,368