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EQUITY AND EARNINGS PER SHARE (Tables)
 6 Months Ended
Jun. 30, 2021
Earnings Per Share [Abstract]  
Schedule of Preferred Shares The table below summarizes preferred stock:
Dividends Declared per Share
Number of SharesThree Months Ended
June 30,		Six Months Ended
June 30,
SeriesJune 30, 2021December 31, 2020
Liquidation Preference(A)
Issuance DiscountCarrying Value2021202020212020
Fixed-to-floating rate cumulative redeemable preferred:
Series A, 7.50% issued July 2019
6,210 6,210 $155,250 3.15 %$150,026 $0.47 $0.47 $0.94 $0.94 
Series B, 7.125% issued August 2019
11,300 11,300 282,500 3.15 %273,418 0.45 0.45 0.89 0.89 
Series C, 6.375% issued February 2020
16,100 16,100 402,500 3.15 %389,548 0.40 0.40 0.80 0.80 
Total33,610 33,610 $840,250 $812,992 $1.32 $1.32 $2.63 $2.63 
(A)Each series has a liquidation preference of $25.00 per share.
Schedule of Dividends Declared
Common dividends have been declared as follows:
Declaration DatePayment DatePer ShareTotal Amounts Distributed (millions)
Quarterly Dividend
March 31, 2020
April 2020
$0.05 $20.8 
June 22, 2020
July 2020
$0.10 $41.6 
September 23, 2020October 2020$0.15 $62.4 
December 16, 2020January 2021$0.20 $82.9 
March 24, 2021April 2021$0.20 $82.9 
June 16, 2021August 2021$0.20 $93.3 
Schedule of Warrants The table below summarizes the 2020 Warrants at June 30, 2021:
Number of Warrants
(in millions)		Weighted Average Exercise Price
(per share)
Outstanding warrants - December 31, 2020
43.4 $6.79 
Granted— — 
Exercised— — 
Expired— — 
Outstanding warrants - June 30, 2021
43.4 $6.67 
(A)
(A)Reflects a reduction in weighted average exercise price due to anti-dilution adjustments effective for dividends in excess of $0.10 a share.
Summary of Outstanding Options
As of June 30, 2021, outstanding options were as follows:
Held by the Manager16,840,175 
Issued to the Manager and subsequently assigned to certain of the Manager’s employees
2,753,980 
Issued to the independent directors6,000 
Total19,600,155 

The following table summarizes outstanding options as of June 30, 2021. The last sales price on the New York Stock Exchange for New Residential’s common stock in the quarter ended June 30, 2021 was $10.59 per share.
Recipient
Date of
Grant/
Exercise(A)
Number of Unexercised
Options
Options
Exercisable
as of
June 30, 2021
Weighted
Average
Exercise
Price(B)
Intrinsic Value of Exercisable Options as of
June 30, 2021
(millions)
DirectorsVarious6,000 6,000 $13.46 $— 
Manager(C)
20171,130,916 1,130,916 13.78 — 
Manager(C)
20185,320,000 5,320,000 16.50 — 
Manager(C)
20196,351,000 4,984,767 15.90 — 
Manager(C)
20201,619,739 863,861 17.23 — 
Manager(C)
20215,172,500 344,833 10.10 0.17
Outstanding19,600,155 12,650,377 
(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 its employees as follows:
Date of Grant to ManagerRange of Exercise
Prices		Total Unexercised
Inception to Date
2018
$16.37 to $17.84
1,159,833 
2019
$14.96 to $16.50
1,270,200 
2020
$16.84 to $17.23
323,947 
Total2,753,980 
 
The following table summarizes activity in outstanding options:
AmountWeighted Average Exercise Price
Outstanding options - December 31, 2020
14,428,655 
Granted5,172,500 $10.10 
Exercised— — 
Expired(1,000)12.36 
Outstanding options - June 30, 2021
19,600,155 See table above
Schedule of Basic and Diluted Earnings Per Share
The following table summarizes the basic and diluted earnings per share calculations:
Three Months Ended
June 30, 		Six Months Ended
June 30,
2021202020212020
Net income (loss)$145,726 $44,129 $447,062 $(1,563,126)
Noncontrolling interests in income of consolidated subsidiaries
10,053 38,640 19,447 22,478 
Dividends on preferred stock14,358 14,357 28,716 25,579 
Net income (loss) attributable to common stockholders$121,315 $(8,868)$398,899 $(1,611,183)
Basic weighted average shares of common stock outstanding456,312,486 415,661,782 435,668,683 415,625,468 
Dilutive effect of stock options and common stock purchase warrants(A)
16,416,759 — 15,560,982 — 
Diluted weighted average shares of common stock outstanding472,729,245 415,661,782 451,229,665 415,625,468 
Basic earnings per share attributable to common stockholders$0.27 $(0.02)$0.92 $(3.88)
Diluted earnings per share attributable to common stockholders$0.26 $(0.02)$0.88 $(3.88)
(A)Stock options and common stock purchase warrants that could potentially dilute basic earnings per share in the future were not included in the computation of diluted earnings per share for the periods where a loss has been recorded because they would have been anti-dilutive for the period presented.
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share
The Company excluded the following weighted-average potential common shares from the calculation of diluted net income (loss) per share during the applicable periods because their inclusion would have been anti-dilutive:
Three Months Ended
June 30, 2021		Six Months Ended
June 30,
2021202020212020
Stock options and common stock purchase warrants— 641,708 — 3,419,938