PHH CORP PHH Income Statement

Phh corp (PHH)

Income statement / Quarterly

Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10	Sep'09	Jun'09
REVENUES
Fleet management fees
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	43,000	-	45,000	45,000	47,000	45,000	42,000	44,000	42,000	41,000	38,000	40,000	38,000	37,000	38,000
Net fee income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	122,000	-	136,000	128,000	127,000	130,000	110,000	100,000	128,000	139,000	113,000	106,000	90,000	106,000	124,000
Fleet lease income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	332,000	-	340,000	338,000	336,000	350,000	370,000	343,000	337,000	340,000	342,000	349,000	339,000	363,000	360,000
Gain on mortgage loans, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	109,000	197,000	187,000	-	257,000	208,000	230,000	186,000	203,000	119,000	59,000	126,000	265,000	139,000	105,000	115,000	147,000
Mortgage interest income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	20,000	19,000	20,000	-	24,000	21,000	25,000	32,000	24,000	23,000	35,000	41,000	29,000	22,000	18,000	20,000	25,000
Mortgage interest expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	47,000	48,000	48,000	-	54,000	53,000	55,000	52,000	48,000	48,000	54,000	57,000	47,000	41,000	38,000	36,000	37,000
Mortgage net finance expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-27,000	-29,000	-28,000	-	-30,000	-32,000	-30,000	-20,000	-24,000	-25,000	-19,000	-94,000	-18,000	19,000	20,000	16,000	12,000
Loan servicing income
-	-	-	-	-	-	-	-	-	91,000	-	94,000	100,000	104,000	113,000	110,000	110,000	115,000	124,000	116,000	88,000	108,000	116,000	112,000	100,000	121,000	119,000	112,000	117,000	108,000	112,000	105,000	97,000	101,000	109,000	100,000
Change in fair value of mortgage servicing rights
-	-	-	-	-	-	-	-	-	121,000	-	115,000	-18,000	26,000	105,000	84,000	52,000	79,000	-7,000	74,000	-75,000	-5,000	46,000	225,000	205,000	21,000	132,000	410,000	159,000	32,000	-199,000	254,000	320,000	52,000	186,000	-55,000
Net derivative gain related to mortgage servicing rights
-	-	-	-	-	-	-	-	-	85,000	-	50,000	-49,000	53,000	56,000	0	20,000	6,000	-2,000	0	-1,000	-16,000	-	8,000	-	-	-	-	-	-	-	-	-	-	-	-
Net derivative (loss) gain related to mortgage servicing rights
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,000	-5,000	-	1,000	-	-	-	-	-	-	-	-
Valuation adjustments related to mortgage servicing rights, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	74,000	-74,000	11,000	-	217,000	203,000	26,000	136,000	409,000	159,000	32,000	-	254,000	-	-	-	-
Loan servicing income, net
40,000	43,000	41,000	35,000	28,000	33,000	-13,000	39,000	44,000	55,000	7,000	29,000	69,000	131,000	64,000	26,000	78,000	42,000	129,000	42,000	162,000	97,000	60,000	-105,000	-103,000	95,000	-17,000	-297,000	-42,000	76,000	311,000	-149,000	-223,000	49,000	-77,000	155,000
Gain on loans held for sale, net
5,000	5,000	88,000	35,000	9,000	12,000	50,000	87,000	77,000	48,000	61,000	69,000	86,000	82,000	64,000	69,000	80,000	51,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Origination and other loan fees
1,000	1,000	102,000	33,000	0	1,000	65,000	75,000	79,000	61,000	64,000	75,000	87,000	58,000	61,000	64,000	59,000	47,000	60,000	86,000	82,000	79,000	92,000	91,000	83,000	80,000	85,000	68,000	56,000	86,000	98,000	75,000	66,000	52,000	69,000	86,000
Interest income
-	-	-	-	-	-	-	-	-	9,000	-	13,000	13,000	9,000	9,000	13,000	12,000	8,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Secured interest expense
-	-	-	-	-	-	-	-	-	8,000	-	9,000	9,000	9,000	8,000	9,000	9,000	9,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Unsecured interest expense
-	-	-	-	-	-	-	-	-	10,000	-	11,000	16,000	17,000	18,000	22,000	26,000	29,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net interest expense
-11,000	-14,000	-12,000	-10,000	-6,000	-8,000	-9,000	-7,000	-7,000	-9,000	-10,000	-7,000	-12,000	-17,000	-	-18,000	-23,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net interest expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	30,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other income
0	15,000	-	28,000	0	2,000	-	3,000	3,000	2,000	-	3,000	7,000	7,000	-	11,000	2,000	1,000	-21,000	1,000	3,000	20,000	-53,000	26,000	20,000	19,000	20,000	22,000	21,000	84,000	18,000	19,000	19,000	14,000	16,000	-6,000
Total net revenues
35,000	50,000	264,000	121,000	31,000	40,000	72,000	197,000	196,000	157,000	123,000	169,000	237,000	261,000	180,000	152,000	196,000	111,000	-156,000	211,000	415,000	730,000	-834,000	624,000	559,000	777,000	649,000	384,000	516,000	665,000	918,000	572,000	371,000	577,000	507,000	768,000
EXPENSES
Salaries and related expenses
28,000	32,000	129,000	62,000	36,000	36,000	77,000	86,000	92,000	90,000	72,000	79,000	85,000	87,000	80,000	98,000	91,000	89,000	-14,000	140,000	140,000	159,000	-51,000	159,000	143,000	136,000	132,000	124,000	117,000	134,000	137,000	127,000	119,000	114,000	114,000	128,000
Commissions
-	-	-	13,000	-	-	15,000	19,000	18,000	12,000	14,000	19,000	27,000	19,000	20,000	22,000	21,000	15,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loan origination expenses
-	-	-	9,000	-	-	12,000	18,000	18,000	16,000	19,000	23,000	25,000	24,000	21,000	22,000	23,000	19,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Foreclosure and repossession expenses
3,000	3,000	3,000	4,000	5,000	7,000	9,000	10,000	9,000	7,000	10,000	11,000	15,000	15,000	14,000	14,000	14,000	14,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Professional and third-party service fees
16,000	18,000	42,000	25,000	22,000	31,000	45,000	35,000	37,000	39,000	45,000	39,000	45,000	42,000	38,000	33,000	28,000	28,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Technology equipment and software expenses
7,000	7,000	12,000	9,000	7,000	7,000	12,000	10,000	10,000	10,000	9,000	9,000	9,000	10,000	10,000	10,000	9,000	8,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Occupancy and other office expenses
6,000	6,000	14,000	8,000	6,000	5,000	12,000	11,000	11,000	13,000	11,000	15,000	12,000	12,000	14,000	12,000	12,000	13,000	10,000	12,000	13,000	15,000	0	15,000	14,000	14,000	15,000	14,000	15,000	15,000	15,000	16,000	14,000	15,000	16,000	12,000
Depreciation on operating leases
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	302,000	-	304,000	303,000	301,000	301,000	307,000	309,000	306,000	303,000	307,000	306,000	308,000	315,000	322,000
Fleet interest expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	15,000	-	18,000	17,000	17,000	19,000	19,000	21,000	20,000	19,000	24,000	25,000	23,000	21,000	21,000
Depreciation and amortization
2,000	3,000	3,000	4,000	3,000	4,000	3,000	4,000	5,000	4,000	5,000	4,000	4,000	5,000	5,000	6,000	6,000	6,000	4,000	6,000	6,000	7,000	-4,000	7,000	6,000	6,000	6,000	7,000	6,000	6,000	5,000	6,000	5,000	6,000	7,000	7,000
Exit and disposal costs
0	0	41,000	8,000	4,000	9,000	41,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other operating expenses
9,000	7,000	10,000	57,000	23,000	18,000	52,000	33,000	16,000	15,000	21,000	57,000	89,000	16,000	19,000	64,000	13,000	12,000	-275,000	154,000	123,000	136,000	-228,000	177,000	156,000	179,000	155,000	155,000	114,000	99,000	126,000	94,000	117,000	92,000	114,000	92,000
Total expenses
71,000	76,000	307,000	199,000	106,000	117,000	278,000	226,000	216,000	206,000	206,000	256,000	311,000	230,000	221,000	281,000	217,000	204,000	-168,000	312,000	282,000	634,000	-832,000	680,000	639,000	653,000	628,000	626,000	582,000	580,000	605,000	574,000	586,000	558,000	587,000	582,000
Loss from continuing operations before income taxes
-36,000	-26,000	-43,000	-78,000	-75,000	-77,000	-206,000	-29,000	-20,000	-49,000	-83,000	-87,000	-74,000	31,000	-	-129,000	-21,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income (loss) from continuing operations before income taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-93,000	-	-101,000	133,000	96,000	-2,000	-56,000	-80,000	124,000	21,000	-242,000	-66,000	85,000	313,000	-2,000	-215,000	19,000	-80,000	186,000
Income tax expense (benefit)
1,000	0	14,000	-36,000	-33,000	-24,000	-73,000	-8,000	-11,000	-19,000	-32,000	-40,000	-18,000	8,000	-10,000	-44,000	-12,000	-33,000	1,000	-38,000	47,000	32,000	-5,000	-33,000	-38,000	39,000	0	-104,000	-29,000	33,000	126,000	-9,000	-89,000	11,000	-32,000	75,000
Loss from continuing operations, net of tax
-37,000	-26,000	-	-	-42,000	-53,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss from continuing operations, net of tax
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-31,000	-85,000	-9,000	-60,000	-	-63,000	86,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income from discontinued operations, net of tax
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	303,000	-46,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income (loss) from discontinued operations, net of tax
2,000	-4,000	-	-	-8,000	-18,000	-	-	-	-	-	-	-	-	-	-	-	16,000	-	17,000	16,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net loss
-35,000	-30,000	-31,000	-42,000	-50,000	-71,000	-133,000	-21,000	-9,000	-30,000	-51,000	-47,000	-56,000	23,000	-32,000	218,000	-55,000	-44,000	44,000	-46,000	102,000	64,000	73,000	-23,000	-42,000	85,000	21,000	-138,000	-37,000	52,000	187,000	7,000	-126,000	8,000	-48,000	111,000
Less: net loss attributable to noncontrolling interest from discontinued operations
0	0	-	-	-4,000	-4,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Less: net income attributable to noncontrolling interest
-	-	-	13,000	-	-	0	6,000	3,000	0	3,000	3,000	6,000	2,000	1,000	3,000	4,000	-2,000	-1,000	6,000	12,000	12,000	15,000	19,000	15,000	10,000	8,000	10,000	4,000	3,000	-	15,000	7,000	-	4,000	5,000
Net loss attributable to PHH Corporation
-35,000	-30,000	-49,000	-55,000	-46,000	-67,000	-133,000	-27,000	-12,000	-30,000	-54,000	-50,000	-62,000	21,000	-33,000	215,000	-59,000	-42,000	45,000	-52,000	90,000	52,000	58,000	-42,000	-57,000	75,000	13,000	-148,000	-41,000	49,000	-	-8,000	-	-	-	-
Comprehensive loss attributable to PHH Corporation
-35,000	-30,000	-	-	-46,000	-67,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Basic and Diluted earnings (loss) per share:
Basic and Diluted loss per share from continuing operations (in usd per share)
-1.11	-0.80	-	-	-0.78	-0.99	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Basic and Diluted earnings (loss) per share from discontinued operations (in usd per share)
0.04	-0.12	-	-	-0.08	-0.27	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Basic and Diluted loss per share attributable to PHH Corporation (in usd per share)
-1.07	-0.92	-1.36	-1.14	-0.86	-1.26	-2.49	-0.50	-0.22	-0.56	-	-0.84	-1.20	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-0.14	-	-	-	-
Weighted-average common shares outstanding:
Weighted-average common shares outstanding basic & diluted (in shares)
32,668	-	-	-	53,342	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
From continuing operations (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1.64	-0.23	-1.01	-	-1.19	1.30	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
From discontinued operations (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	5.64	-0.79	0.28	-	0.29	0.28	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net (loss) income attributable to PHH Corporation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-133,000	8,000	-52,000	106,000
Basic (loss) earnings per share attributable to PHH Corporation (in usd per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	0.40	-	4.00	-1.02	-0.73	0.78	-0.90	1.58	0.90	1.02	-0.74	-1.00	1.32	0.22	-2.62	-0.73	0.87	-	-	-2.40	0.15	-0.94	1.93
From continuing operations (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1.64	-0.23	-1.01	-	-1.19	1.15	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
From discontinued operations (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	5.64	-0.79	0.28	-	0.29	0.25	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Diluted (loss) earnings per share attributable to PHH Corporation (in usd per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	0.34	-	4.00	-1.02	-0.73	0.77	-0.90	1.40	0.79	1.04	-0.74	-1.00	1.30	0.25	-2.62	-0.73	0.84	-	-	-2.40	0.15	-0.94	1.91