Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2022

Earnings Per Share [Abstract]

Schedule of earnings per share

The following table sets forth the computation of basic and diluted net income 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	2022		2021		2022		2021
Net income from continuing operations	$	113	$	310	$	922	$	1,296
Less: Undistributed earnings from continuing operations attributable to participating stockholders	—		1		—		9
Net income from continuing operations attributable to Mr. Cooper common stockholders	$	113	$	281	$	922	$	1,259
Net (loss) income from discontinued operations	$	—	$	(11)	$	—	$	3
Less: Undistributed earnings from discontinued operations attributable to participating stockholders	—		—		—		—
Net (loss) income from discontinued operations attributable to Mr. Cooper common stockholders	$	—	$	(11)	$	—	$	3
Net income	$	113	$	299	$	922	$	1,299
Less: Undistributed earnings attributable to participating stockholders	—		1		—		9
Less: Premium on retirement of preferred stock	—		28		—		28
Net income attributable to common stockholders	$	113	$	270	$	922	$	1,262
Earnings from continuing operations per common share attributable to Mr. Cooper:
Basic	$	1.59	$	3.56	$	12.71	$	14.85
Diluted	$	1.55	$	3.42	$	12.37	$	14.20
Earnings from discontinued operations per common share attributable to Mr. Cooper:
Basic	$	—	$	(0.14)	$	—	$	0.04
Diluted	$	—	$	(0.13)	$	—	$	0.03
Earnings per common share attributable to Mr. Cooper:
Basic	$	1.59	$	3.42	$	12.71	$	14.89
Diluted	$	1.55	$	3.29	$	12.37	$	14.23
Weighted average shares of common stock outstanding (in thousands):
Basic	71,175		78,944		72,569		84,809
Dilutive effect of stock awards	1,703		2,826		1,988		3,176
Dilutive effect of participating securities	—		301		—		658
Diluted	72,878		82,071		74,557		88,643