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 investments193285428329264257
Cash and cash equivalents193285428329264257
Receivables(3)(6)(7)(12)(7)29
Prepaid expense    643
Disposal group, including discontinued operation   0  
Total current assets:189279422318263329
Noncurrent Assets
Operating lease, right-of-use asset  31
Property, plant and equipment141738333763
Intangible assets, net (including goodwill)28     
Intangible assets, net (excluding goodwill)28     
Deferred income tax assets342
Total noncurrent assets:452072333763
Other undisclosed assets11,91310,3529,9139,0438,1037,264
TOTAL ASSETS:12,14710,65110,4069,3948,4037,656
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities12567514
Accrued liabilities     11
Interest and dividends payable1256754
Debt1,085     
Due to related parties2     
Total current liabilities:1,099567514
Noncurrent Liabilities
Liabilities, other than long-term debt465131313  
Liability, pension and other postretirement and postemployment benefits4131313  
Due to related parties460     
Total noncurrent liabilities:465131313  
Other undisclosed liabilities10,10710,2189,9758,8207,8516,986
Total liabilities:11,67010,2369,9948,8407,8567,000
Stockholders' equity
Stockholders' equity attributable to parent477434412555545653
Common stock001111
Additional paid in capital593556557554547527
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    22
Other undisclosed stockholders' equity (18)    
Total stockholders' equity:477415412555547655
TOTAL LIABILITIES AND EQUITY:12,14710,65110,4069,3948,4037,656

Income Statement (P&L) ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Revenues1,0509611,1231,0631,1951,387
Contractually specified servicing fee, late fee, and ancillary fee earned in exchange for servicing financial asset102108976934
Financial services revenue1,0911,297
Cost of revenue(435)(362)(424)(609)(244)(346)
Amortization of mortgage servicing rights (msrs)    (52)(33)
Gross profit:6155996994549511,041
Operating expenses(174)(214)(250)(323)(755)(877)
Other operating expense, net
(Other Expenses)
(23)(19)(1)(26)(49)(33)
Operating income:417366448104147131
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:6789(2)(373)(556)(652)
Other undisclosed income (loss) from continuing operations before income taxes(71)(195)(125)301412446
Loss from continuing operations before income taxes:(4)(106)(126)(71)(144)(206)
Income tax expense (benefit)2266(16)(1)167
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)00
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.

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