Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2020

Earnings Per Share [Abstract]

Schedule of earnings per share

The following table sets forth the computation of basic and diluted net income (loss) per common share (amounts in millions, except per share amounts):

	Three Months Ended September 30,				Nine Months Ended September 30,
Computation of earnings per share	2020		2019		2020		2019
Net income (loss) attributable to Mr. Cooper	$	209	$	84	$	114	$	(189)
Less: Undistributed earnings attributable to participating stockholders	2		1		1		—
Net income (loss) attributable to common stockholders	$	207	$	83	$	113	$	(189)
Net income (loss) per common share attributable to Mr. Cooper:
Basic	$	2.26	$	0.91	$	1.23	$	(2.08)
Diluted	$	2.18	$	0.90	$	1.20	$	(2.08)
Weighted average shares of common stock outstanding (in thousands):
Basic	91,682		91,080		91,688		91,012
Dilutive effect of stock awards(1)	2,563		117		1,529		—
Dilutive effect of participating securities(1)	839		839		839		—
Diluted	95,084		92,036		94,056		91,012

(1)For periods with net loss, the Company excluded potential common shares from the computation of diluted EPS because inclusion would be antidilutive.