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EQUITY AND ENARNINGS PER SHARE (Tables)
 12 Months Ended
Dec. 31, 2021
Earnings Per Share [Abstract]  
Schedule of Preferred Shares
The table below summarizes preferred shares:
Number of Shares
Liquidation Preference(A)
Dividends Declared per Share
December 31,Year Ended December 31,
Series2021202020212020Issuance Discount
Carrying Value(B)
202120202019
Series A, 7.50% issued July 2019(C)
$6,210 $6,210 $155,250 $155,250 3.15 %$150,026 $1.88 $1.88 $1.16 
Series B, 7.125% issued August 2019(C)
11,300 11,300 282,500 282,500 3.15 %273,418 1.78 1.78 0.89 
Series C, 6.375% issued February 2020(C)
16,100 16,100 402,500 402,500 3.15 %389,548 1.59 1.60 — 
Series D, 7.00% issued September 2021(D)
18,600 — 465,000 — 3.15 %449,489 0.72 — — 
Total$52,210 $33,610 $1,305,250 $840,250 $1,262,481 $5.97 $5.26 $2.05 
(A)Each series has a liquidation preference of $25.00 per share.
(B)Carrying value reflects par value less discount and issuance costs.
(C)Fixed-to-floating rate cumulative redeemable preferred.
(D)Fixed-rate reset cumulative redeemable preferred.
Schedule of Dividends Declared
Common dividends have been declared as follows:
Per Share
Declaration DatePayment DateQuarterly DividendTotal Amounts Distributed (millions)
March 25, 2019April 2019$0.50 $207.7 
June 18, 2019July 20190.50 207.8 
September 23, 2019October 20190.50 207.8 
December 16, 2019January 20200.50 207.8 
March 31, 2020April 20200.05 20.8 
June 22, 2020July 20200.10 41.6 
September 23, 2020October 20200.15 62.4 
December 16, 2020January 20210.20 82.9 
March 24, 2021April 20210.20 82.9 
June 16, 2021August 20210.20 93.3 
August 23, 2021October 20210.25 116.6 
December 15, 2021January 20220.25 116.7 
Schedule of Stockholders' Equity Note, Warrants or Rights
The table below summarizes the 2020 Warrants:
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 - December 31, 2021
43.4 $6.49 
(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
The following table summarizes outstanding options for the periods presented:
December 31,
20212020
Held by the Manager19,877,843 11,991,622 
Issued to the Manager and subsequently assigned to certain of the Manager’s employees
1,594,147 2,430,033 
Issued to the independent directors7,000 7,000 
Total21,478,990 14,428,655 
The following table summarizes outstanding options as of December 31, 2021. The last sales price on the New York Stock Exchange for New Residential’s common stock for the year ended December 31, 2021 was $10.71 per share.
Recipient
Date of
Grant/
Exercise(A)
Number of Unexercised Options
Options
Exercisable
as of
December 31, 2021
Weighted
Average
Exercise
Price(B)
Intrinsic Value of Exercisable Options as of December 31, 2021
DirectorsVarious7,000 7,000 $13.08 $— 
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 6,000,800 15.93 — 
Manager(C)
20201,619,739 1,187,809 17.23 — 
Manager(C)
20217,050,335 1,565,928 10.19 810 
Outstanding21,478,990 15,212,453 14.17
(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 PricesTotal Unexercised
Inception to Date
2019
$14.96 to $16.50
1,270,200 
2020
$16.84 to $17.23
323,947 
2021
$10.10 to $11.51
— 
Total1,594,147 
 
The following table summarizes activity related to outstanding options for the periods presented:
AmountWeighted Average Exercise Price
Outstanding options - December 31, 2019
12,808,916 
Granted1,619,739 $17.41 
Exercised— — 
Expired— — 
Outstanding options - December 31, 2020
14,428,655 
Granted7,051,335 10.31 
Exercised— — 
Expired(1,000)12.36 
Outstanding options - December 31, 2021
21,478,990 See table above
Schedule of Basic and Diluted Earnings Per Share
The following table summarizes the basic and diluted earnings per share calculations:
Year Ended December 31,
202120202019
Net income (loss)$805,582 $(1,357,684)$605,933 
Noncontrolling interests in income of consolidated subsidiaries
33,356 52,674 42,637 
Dividends on preferred stock66,744 54,295 13,281 
Net income (loss) attributable to common stockholders$705,482 $(1,464,653)$550,015 
Basic weighted average shares of common stock outstanding451,276,742 415,513,187 408,789,642 
Dilutive effect of stock options and common stock purchase warrants(A)
16,388,264 — 200,465 
Diluted weighted average shares of common stock outstanding467,665,006 415,513,187 408,990,107 
Basic earnings per share attributable to common stockholders$1.56 $(3.52)$1.35 
Diluted earnings per share attributable to common stockholders$1.51 $(3.52)$1.34 
(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:
Year Ended December 31,
202120202019
Stock options and common stock purchase warrants— 7,328,961 —