Ocwen Financial Corporation (OCN) Financial Statements (2023 and Earlier)
Company Profile
| Business Address |
1661 WORTHINGTON ROAD WEST PALM BEACH, FL 33409 |
| State of Incorp. | FL |
| Fiscal Year End | December 31 |
| Industry (SIC) | 6162 - Mortgage Bankers and Loan Correspondents (benchmarking) |
| More info | Complete financial analysis Financial benchmarking |
Balance Sheet (Statement of Financial Position) ($ in millions)
| 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | |||
|---|---|---|---|---|---|---|---|---|
| ASSETS | ||||||||
| Current Assets | ||||||||
| Cash, cash equivalents, and short-term investments | 193 | 285 | 428 | 329 | 264 | 257 | ||
| Cash and cash equivalents | 193 | 285 | 428 | 329 | 264 | 257 | ||
| Receivables | (3) | (6) | (7) | (12) | (7) | 29 | ||
| Prepaid expense | 6 | 43 | ||||||
| Disposal group, including discontinued operation | 0 | |||||||
| Total current assets: | 189 | 279 | 422 | 318 | 263 | 329 | ||
| Noncurrent Assets | ||||||||
| Operating lease, right-of-use asset | 31 | ✕ | ✕ | ✕ | ||||
| Property, plant and equipment | 14 | 17 | 38 | 33 | 37 | 63 | ||
| Intangible assets, net (including goodwill) | 28 | |||||||
| Intangible assets, net (excluding goodwill) | 28 | |||||||
| Deferred income tax assets | 3 | 4 | 2 | ✕ | ✕ | ✕ | ||
| Total noncurrent assets: | 45 | 20 | 72 | 33 | 37 | 63 | ||
| Other undisclosed assets | 11,913 | 10,352 | 9,913 | 9,043 | 8,103 | 7,264 | ||
| TOTAL ASSETS: | 12,147 | 10,651 | 10,406 | 9,394 | 8,403 | 7,656 | ||
| LIABILITIES AND EQUITY | ||||||||
| Liabilities | ||||||||
| Current Liabilities | ||||||||
| Accounts payable and accrued liabilities | 12 | 5 | 6 | 7 | 5 | 14 | ||
| Accrued liabilities | 11 | |||||||
| Interest and dividends payable | 12 | 5 | 6 | 7 | 5 | 4 | ||
| Debt | 1,085 | |||||||
| Due to related parties | 2 | |||||||
| Total current liabilities: | 1,099 | 5 | 6 | 7 | 5 | 14 | ||
| Noncurrent Liabilities | ||||||||
| Liabilities, other than long-term debt | 465 | 13 | 13 | 13 | ||||
| Liability, pension and other postretirement and postemployment benefits | 4 | 13 | 13 | 13 | ||||
| Due to related parties | 460 | |||||||
| Total noncurrent liabilities: | 465 | 13 | 13 | 13 | ||||
| Other undisclosed liabilities | 10,107 | 10,218 | 9,975 | 8,820 | 7,851 | 6,986 | ||
| Total liabilities: | 11,670 | 10,236 | 9,994 | 8,840 | 7,856 | 7,000 | ||
| Stockholders' equity | ||||||||
| Stockholders' equity attributable to parent | 477 | 434 | 412 | 555 | 545 | 653 | ||
| Common stock | 0 | 0 | 1 | 1 | 1 | 1 | ||
| Additional paid in capital | 593 | 556 | 557 | 554 | 547 | 527 | ||
| Accumulated other comprehensive income (loss) | (2) | 9 | (8) | (4) | (1) | (1) | ||
| Retained earnings (accumulated deficit) | (114) | (132) | (139) | 4 | (2) | 126 | ||
| Stockholders' equity attributable to noncontrolling interest | 2 | 2 | ||||||
| Other undisclosed stockholders' equity | (18) | |||||||
| Total stockholders' equity: | 477 | 415 | 412 | 555 | 547 | 655 | ||
| TOTAL LIABILITIES AND EQUITY: | 12,147 | 10,651 | 10,406 | 9,394 | 8,403 | 7,656 | ||
Income Statement (P&L) ($ in millions)
| 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | ||
|---|---|---|---|---|---|---|---|
| Revenues | 1,050 | 961 | 1,123 | 1,063 | 1,195 | 1,387 | |
| Contractually specified servicing fee, late fee, and ancillary fee earned in exchange for servicing financial asset | 102 | 108 | 976 | 934 | ✕ | ✕ | |
| Financial services revenue | ✕ | ✕ | ✕ | ✕ | 1,091 | 1,297 | |
| Cost of revenue | (435) | (362) | (424) | (609) | (244) | (346) | |
| Amortization of mortgage servicing rights (msrs) | (52) | (33) | |||||
| Gross profit: | 615 | 599 | 699 | 454 | 951 | 1,041 | |
| Operating expenses | (174) | (214) | (250) | (323) | (755) | (877) | |
| Other operating expense, net (Other Expenses) | (23) | (19) | (1) | (26) | (49) | (33) | |
| Operating income: | 417 | 366 | 448 | 104 | 147 | 131 | |
| Nonoperating expense | (335) | (239) | (455) | (202) | (340) | (370) | |
| Investment income, nonoperating | (0) | 64 | |||||
| Interest and debt expense | (15) | (38) | 5 | (275) | (363) | (413) | |
| Income (loss) from continuing operations before equity method investments, income taxes: | 67 | 89 | (2) | (373) | (556) | (652) | |
| Other undisclosed income (loss) from continuing operations before income taxes | (71) | (195) | (125) | 301 | 412 | 446 | |
| Loss from continuing operations before income taxes: | (4) | (106) | (126) | (71) | (144) | (206) | |
| Income tax expense (benefit) | 22 | 66 | (16) | (1) | 16 | 7 | |
| Income (loss) from continuing operations: | 18 | (40) | (142) | (72) | (128) | (199) | |
| Income from discontinued operations | 1 | ||||||
| Net income (loss): | 18 | (40) | (142) | (71) | (128) | (199) | |
| Net income (loss) attributable to noncontrolling interest | (0) | 0 | (0) | ||||
| Net income (loss) available to common stockholders, diluted: | 18 | (40) | (142) | (71) | (128) | (200) | |
Comprehensive Income ($ in millions)
| 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | ||
|---|---|---|---|---|---|---|---|
| Net income (loss): | 18 | (40) | (142) | (71) | (128) | (199) | |
| Other comprehensive income (loss) | 7 | (2) | (3) | (3) | 0 | 0 | |
| Other undisclosed comprehensive loss | (0) | ||||||
| Comprehensive income (loss): | 25 | (42) | (145) | (74) | (128) | (199) | |
| Comprehensive income (loss), net of tax, attributable to noncontrolling interest | (0) | 0 | (0) | ||||
| Other undisclosed comprehensive loss, net of tax, attributable to parent | (0) | ||||||
| Comprehensive income (loss), net of tax, attributable to parent: | 25 | (42) | (145) | (74) | (128) | (199) | |
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.