Rendering

Component: (Network and Table)
Network
2321301 - Disclosure - Income Taxes (Tables)
(http://www.ocwen.com/role/IncomeTaxesTables)
Table(Implied)
Slicers (applies to each fact value in each table cell)
Income Tax Disclosure [Abstract]Period [Axis]
2016-01-01 - 2016-12-31
Income Tax Disclosure [Abstract]
 
Schedule of Income Before Taxes
For income tax purposes, the components of loss before taxes were as follows for the years ended December 31:
 
2016
 
2015
 
2014
Domestic
$
(130,920
)
 
$
(62,903
)
 
$
(401,741
)
Foreign
(75,441
)
 
(66,958
)
 
(41,418
)
 
$
(206,361
)
 
$
(129,861
)
 
$
(443,159
)
 
 
Schedule of Components of Income Tax Expense (Benefit)
The components of income tax expense (benefit) were as follows for the years ended December 31:
 
2016
 
2015
 
2014
Current:
 

 
 

 
 

Federal
$
(8,025
)
 
$
46,680

 
$
(20,824
)
State
460

 
1,079

 
(403
)
Foreign
5,099

 
161

 
9,195

 
(2,466
)
 
47,920

 
(12,032
)
Deferred:
 

 
 

 
 

Federal
(22,054
)
 
(27,173
)
 
41,986

State
4,701

 
(3,719
)
 
(997
)
Foreign
(2,806
)
 
2,754

 
(6,162
)
Provision for valuation allowance on deferred tax assets
15,639

 
97,069

 
3,601

 
(4,520
)
 
68,931

 
38,428

Total
$
(6,986
)
 
$
116,851

 
$
26,396

 
 
Schedule of Effective Income Tax Reconciliation
Income tax expense differs from the amounts computed by applying the U.S. Federal corporate income tax rate of 35% as follows for the years ended December 31:
 
2016
 
2015
 
2014
Expected income tax expense (benefit) at statutory rate
$
(72,225
)
 
$
(45,451
)
 
$
(155,106
)
Differences between expected and actual income tax expense:
 

 
 

 
 

Impairment of goodwill

 

 
92,034

State tax, after Federal tax benefit
250

 
(2,867
)
 
(1,084
)
Provision for liability for uncertain tax positions
2,236

 
18,205

 
47

Provision for liability for intra-entity transactions
3,357

 
4,700

 
6,037

Non-deductible regulatory settlements

 
700

 
53,375

Other permanent differences
515

 
(463
)
 
(254
)
Foreign tax differential
42,463

 
41,695

 
27,799

Provision for valuation allowance on deferred tax assets (1)
15,639

 
97,069

 
3,601

Other
779

 
3,263

 
(53
)
Actual income tax expense (benefit)
$
(6,986
)
 
$
116,851

 
$
26,396


(1)
The provision for valuation allowance in 2016 and 2015 primarily relates to the recording of the valuation allowance on both the U.S. and USVI net deferred tax assets as of December 31, 2016 and 2015. Also included in the provision for valuation allowance in 2015 is the reversal of a portion of the valuation allowance previously recorded on taxable losses earned by OMS which were taxable in the U.S. as effectively connected income (ECI), which is equal to the positive taxable income that is expected to be generated for ECI purposes for the year ended December 31, 2015.
 
 
Schedule of Deferred Tax Assets and Liabilities
Net deferred tax assets were comprised of the following at December 31:
 
2016
 
2015
Deferred tax assets:
 

 
 

Net operating loss carryforward
$
67,657

 
$
24,511

Mortgage servicing rights amortization
11,592

 
15,697

Partnership losses
8,976

 
10,137

Intangible asset amortization
8,223

 
10,293

Accrued incentive compensation
8,017

 
10,107

Accrued legal settlements
9,178

 
10,519

Stock-based compensation expense
5,659

 
4,834

Accrued other liabilities
5,543

 
5,641

Foreign deferred assets
5,219

 
3,647

Foreign tax credit
4,262

 

Tax residuals and deferred income on tax residuals
4,037

 
4,052

Bad debt and allowance for loan losses
3,268

 
6,227

Reserve for servicing exposure
1,900

 
3,353

Delinquent servicing fees
1,647

 
2,360

Capital losses
1,450

 
1,710

Other
1,872

 
7,056

 
148,500

 
120,144

Deferred tax liabilities:
 

 
 

Foreign undistributed earnings
13,619

 
5,421

Other
76

 
77

 
13,695

 
5,498

 
134,805

 
114,646

Valuation allowance
(132,073
)
 
(116,434
)
Deferred tax assets (liabilities), net
$
2,732

 
$
(1,788
)
 
 
Schedule of Unrecognized Tax Benefits
A reconciliation of the beginning and ending amount of the total liability for uncertain tax positions is as follows for the years ended December 31:
 
2016
 
2015
 
2014
Beginning balance
$
32,548

 
$
22,523

 
$
27,273

Additions for tax positions of prior years

 
13,162

 
1,392

Reductions for tax positions of prior years

 
(2,741
)
 
(6,010
)
Reductions for settlements
(14,420
)
 

 

Lapses in statute of limitations
(1,134
)
 
(396
)
 
(132
)
Ending balance
$
16,994

 
$
32,548

 
$
22,523