| Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 |
|---|---|---|---|---|---|---|---|---|---|
REVENUES | |||||||||
Fleet management fees | |||||||||
- | - | - | - | - | - | 173,000 | 157,000 | 150,000 | 163,000 |
Net fee income | |||||||||
- | - | - | - | - | - | 468,000 | 448,000 | 425,000 | 371,000 |
Fleet lease income | |||||||||
- | - | - | - | - | - | 1,400,000 | 1,370,000 | 1,441,000 | 1,585,000 |
Gain on mortgage loans, net | |||||||||
- | - | - | - | - | - | 567,000 | 635,000 | 610,000 | 259,000 |
Mortgage interest income | |||||||||
- | - | - | - | - | - | 114,000 | 110,000 | 89,000 | 173,000 |
Mortgage interest expense | |||||||||
- | - | - | - | - | - | 202,000 | 183,000 | 147,000 | 171,000 |
Mortgage net finance expense | |||||||||
- | - | - | - | - | - | -88,000 | -73,000 | -58,000 | -2,000 |
Loan servicing income | |||||||||
- | - | - | 448,000 | 436,000 | 449,000 | 456,000 | 415,000 | 431,000 | 430,000 |
Change in fair value of mortgage servicing rights | |||||||||
- | - | - | 320,000 | -13,000 | 497,000 | 733,000 | 427,000 | 280,000 | 554,000 |
Net derivative gain related to mortgage servicing rights | |||||||||
- | - | - | 82,000 | -19,000 | -5,000 | -3,000 | - | - | - |
Net derivative (loss) gain related to mortgage servicing rights | |||||||||
- | - | - | - | - | - | - | - | - | -179,000 |
Valuation adjustments related to mortgage servicing rights, net | |||||||||
- | - | - | - | - | - | 736,000 | 427,000 | 280,000 | -733,000 |
Loan servicing income, net | |||||||||
137,000 | 125,000 | 236,000 | 210,000 | 430,000 | -53,000 | -280,000 | -12,000 | 151,000 | -303,000 |
Gain on loans held for sale, net | |||||||||
144,000 | 262,000 | 298,000 | 264,000 | 575,000 | 942,000 | - | - | - | - |
Origination and other loan fees | |||||||||
136,000 | 280,000 | 284,000 | 231,000 | 307,000 | 346,000 | 295,000 | 291,000 | 275,000 | 208,000 |
Interest income | |||||||||
- | - | - | 42,000 | 70,000 | 91,000 | - | - | - | - |
Secured interest expense | |||||||||
- | - | - | 35,000 | 59,000 | 80,000 | - | - | - | - |
Unsecured interest expense | |||||||||
- | - | - | 95,000 | 126,000 | 132,000 | - | - | - | - |
Net interest expense | |||||||||
-36,000 | -32,000 | -46,000 | -88,000 | -115,000 | - | - | - | - | - |
Other income (loss) | |||||||||
75,000 | -13,000 | 18,000 | 22,000 | - | - | - | - | - | - |
Net interest expense | |||||||||
- | - | - | - | - | 121,000 | - | - | - | - |
Other income | |||||||||
- | - | - | - | 3,000 | 12,000 | 147,000 | 70,000 | 37,000 | 142,000 |
Total net revenues | |||||||||
456,000 | 622,000 | 790,000 | 639,000 | 1,200,000 | 1,126,000 | 2,214,000 | 2,438,000 | 2,606,000 | 2,056,000 |
EXPENSES | |||||||||
Salaries and related expenses | |||||||||
263,000 | 345,000 | 323,000 | 358,000 | 425,000 | 387,000 | 507,000 | 497,000 | 482,000 | 440,000 |
Commissions | |||||||||
44,000 | 64,000 | 79,000 | 78,000 | 110,000 | 124,000 | - | - | - | - |
Loan origination expenses | |||||||||
31,000 | 64,000 | 91,000 | 85,000 | 109,000 | 125,000 | - | - | - | - |
Foreclosure and repossession expenses | |||||||||
19,000 | 35,000 | 51,000 | 56,000 | 61,000 | 44,000 | - | - | - | - |
Professional and third-party service fees | |||||||||
120,000 | 156,000 | 171,000 | 127,000 | 111,000 | 88,000 | - | - | - | - |
Technology equipment and software expenses | |||||||||
35,000 | 42,000 | 37,000 | 37,000 | 33,000 | 30,000 | - | - | - | - |
Occupancy and other office expenses | |||||||||
33,000 | 47,000 | 50,000 | 51,000 | 50,000 | 43,000 | 59,000 | 60,000 | 59,000 | 74,000 |
Depreciation on operating leases | |||||||||
- | - | - | - | - | - | 1,223,000 | 1,224,000 | 1,267,000 | 1,299,000 |
Fleet interest expense | |||||||||
- | - | - | - | - | - | 79,000 | 91,000 | 89,000 | 162,000 |
Depreciation and amortization | |||||||||
14,000 | 16,000 | 18,000 | 23,000 | 23,000 | 15,000 | 25,000 | 22,000 | 26,000 | 25,000 |
Exit and disposal costs | |||||||||
62,000 | 41,000 | 0 | 0 | - | - | - | - | - | - |
Other operating expenses | |||||||||
108,000 | 116,000 | 183,000 | 108,000 | 138,000 | 284,000 | 523,000 | 429,000 | 403,000 | 438,000 |
Goodwill impairment | |||||||||
- | - | - | - | - | - | - | - | - | 61,000 |
Total expenses | |||||||||
729,000 | 926,000 | 1,003,000 | 923,000 | 1,060,000 | 1,140,000 | 2,416,000 | 2,323,000 | 2,326,000 | 2,499,000 |
Loss from continuing operations before income taxes | |||||||||
-273,000 | -304,000 | -213,000 | -284,000 | 140,000 | - | - | - | - | - |
Income (loss) from continuing operations before income taxes | |||||||||
- | - | - | - | - | -14,000 | -202,000 | 115,000 | 280,000 | -443,000 |
Income tax expense (benefit) | |||||||||
-79,000 | -111,000 | -82,000 | -99,000 | 42,000 | -37,000 | -100,000 | 39,000 | 107,000 | -162,000 |
Loss from continuing operations, net of tax | |||||||||
- | - | - | -185,000 | 98,000 | 23,000 | - | - | - | - |
Income from discontinued operations, net of tax | |||||||||
- | - | - | 272,000 | 66,000 | - | - | - | - | - |
Income (loss) from discontinued operations, net of tax | |||||||||
- | - | - | - | - | 70,000 | - | - | - | - |
Net loss | |||||||||
-194,000 | -193,000 | -131,000 | 87,000 | 164,000 | 93,000 | -102,000 | 76,000 | 173,000 | -281,000 |
Less: net income attributable to noncontrolling interest | |||||||||
23,000 | 9,000 | 14,000 | 6,000 | 29,000 | 59,000 | 25,000 | 28,000 | 20,000 | -27,000 |
Net loss attributable to PHH Corporation | |||||||||
-217,000 | -202,000 | -145,000 | 81,000 | 135,000 | 34,000 | -127,000 | 48,000 | 153,000 | - |
Basic and Diluted earnings (loss) per share: | |||||||||
Basic and Diluted loss per share from continuing operations (in usd per share) | |||||||||
- | - | - | -3.47 | - | - | - | - | - | - |
From discontinued operations (in dollars per share) | |||||||||
- | - | - | 4.94 | - | - | - | - | - | - |
Basic and Diluted loss per share attributable to PHH Corporation (in usd per share) | |||||||||
-4.62 | -3.77 | -2.62 | 1.47 | - | - | - | - | - | - |
From continuing operations (in dollars per share) | |||||||||
- | - | - | - | 1.21 | -0.64 | - | - | - | - |
From discontinued operations (in dollars per share) | |||||||||
- | - | - | - | 1.15 | 1.24 | - | - | - | - |
Net (loss) income attributable to PHH Corporation | |||||||||
- | - | - | - | - | - | - | - | - | -254,000 |
Basic (loss) earnings per share attributable to PHH Corporation (in usd per share) | |||||||||
- | - | - | - | 2.36 | 0.60 | -2.26 | 0.87 | 2.80 | -4.68 |
From continuing operations (in dollars per share) | |||||||||
- | - | - | - | 1.05 | -0.64 | - | - | - | - |
From discontinued operations (in dollars per share) | |||||||||
- | - | - | - | 1.01 | 1.24 | - | - | - | - |
Diluted (loss) earnings per share attributable to PHH Corporation (in usd per share) | |||||||||
- | - | - | - | 2.06 | 0.60 | -2.26 | 0.86 | 2.77 | -4.68 |