Noncontrolling Interest

12 Months Ended

Dec. 31, 2018

Noncontrolling Interest.

Noncontrolling Interest

Note 18—Noncontrolling Interest

As a result of the Reorganization on November 1, 2018, noncontrolling interest unitholders contributed their Class A units of PNMAC for shares of PFSI common stock without any cash considerations on a one-for-one basis and became stockholders of the Company. Consequently, the noncontrolling interest was reclassified to the Company’s paid-in capital accounts.

Net income attributable to the Company’s common stockholders and the effects of changes in noncontrolling ownership interest in PennyMac for each of the three years ended December 31, 2018 is summarized below:

	Year ended December 31,
	2018		2017		2016
	(in thousands)
Net income attributable to PennyMac Financial Services, Inc. common stockholders	$	87,694	$	100,757	$	66,079
Increase in the Company's paid-in capital accounts for exchanges of Class A units of Private National Mortgage Acceptance Company, LLC to Class A common stock of PennyMac Financial Services, Inc.	$	33,156	$	27,119	$	6,877
Shares of Class A common stock of PennyMac Financial Services, Inc. issued pursuant to exchange of Class A units of Private National Mortgage Acceptance Company, LLC  by noncontrolling interest unitholders and issued as equity compensation		1,635		1,608		301
Increase in the Company's paid-in capital for exchanges of Class A units of Private National Mortgage Acceptance Company, LLC to common stock of PennyMac Financial Services, Inc. pursuant to the Reorganization	$	1,064,320	$	—	$	—
Shares of common stock of PennyMac Financial Services, Inc. issued for exchange of Class A units of Private National Mortgage Acceptance Company, LLC  by noncontrolling interest unitholders pursuant to the Reorganization		52,263		—		—

	December 31,
	2018			2017
Percentage of Private National Mortgage Acceptance Company, LLC held by noncontrolling interest		—	%		69.2	%