Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2021

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 March 31,
Computation of Earnings Per Share	2021		2020
Net income (loss) attributable to Mr. Cooper	$	561	$	(168)
Less: Undistributed earnings attributable to participating stockholders	5		—
Net income (loss) attributable to common stockholders	$	556	$	(168)
Net income (loss) per common share attributable to Mr. Cooper:
Basic	$	6.22	$	(1.84)
Diluted	$	5.92	$	(1.84)
Weighted average shares of common stock outstanding (in thousands):
Basic	89,458		91,385
Dilutive effect of stock awards(1)	3,590		—
Dilutive effect of participating securities(1)	839		—
Diluted	93,887		91,385

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