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GOODWILL AND INTANGIBLE ASSETS (Tables) | 6 Months Ended
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Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Carrying Value of Goodwill by Reportable Segment | The following table summarizes the carrying value of goodwill by reportable segment:
| Origination and Servicing |  | Investment Portfolio |  | Mortgage Loans Receivable |  | Asset Management |  | Total
Balance at December 31, 2023 | $ | 24,376 |  |  | $ | 5,092 |  |  | $ | 55,731 |  |  | $ | 46,658 |  |  | $ | 131,857 |
Goodwill acquired | — |  |  | — |  |  | — |  |  | — |  |  | — |
Accumulated impairment loss | — |  |  | — |  |  | — |  |  | — |  |  | — |
Balance at June 30, 2024 | $ | 24,376 |  |  | $ | 5,092 |  |  | $ | 55,731 |  |  | $ | 46,658 |  |  | $ | 131,857 |
Schedule of Acquired Identifiable Intangible Assets | The following table presents the details of identifiable intangible assets acquired:
($ in millions) | Estimated Useful Life |  | Amount
Customer Relationships | 4.5 |  | $ | 16.0 |
Total identifiable intangible assets |  |  | $ | 16.0 |
The following table summarizes the acquired identifiable intangible assets:
| Estimated Useful Lives (Years) |  | June 30, 2024 |  | December 31, 2023
Gross Intangible Assets |  |  |  |  |
Management contracts | 10 |  | $ | 275,000 |  |  | $ | 275,000 |
Customer relationships | 2 to 9 |  | 73,949 |  |  | 57,949 |
Purchased technology | 3 to 7 |  | 139,964 |  |  | 137,922 |
Trademarks / Trade names | 1 to 5 |  | 10,259 |  |  | 10,259 |
|  |  | $ | 499,172 |  |  | $ | 481,130 |
Accumulated Amortization(A) |  |  |  |  |
Management contracts |  |  | $ | 17,090 |  |  | $ | 3,388 |
Customer relationships |  |  | 20,022 |  |  | 17,834
Purchased technology |  |  | 91,685 |  |  | 67,145
Trademarks / Trade names |  |  | 5,433 |  |  | 4,843
|  |  | $ | 134,230 |  |  | $ | 93,210 |
Intangible Assets, Net |  |  |  |  |
Management contracts |  |  | $ | 257,910 |  |  | $ | 271,612 |
Customer relationships |  |  | 53,927 |  |  | 40,115 |
Purchased technology(B) |  |  | 48,279 |  |  | 70,777 |
Trademarks / Trade names(C) |  |  | 4,826 |  |  | 5,416 |
|  |  | $ | 364,942 |  |  | $ | 387,920 |
(A)Amortization expense is presented within general and administrative expense on Rithm Capital’s Consolidated Statements of Operations. (B)Includes indefinite-lived intangible assets of $21.4 million and $21.4 million, respectively. (C)Includes indefinite-lived intangible assets of $1.9 million and $1.9 million, respectively.
Schedule of Expected Future Amortization Expense for Acquired Intangible Assets | The following table summarizes the expected future amortization expense for acquired intangible assets as of June 30, 2024:
Year Ending |  | Amortization Expense
July 1 through December 31, 2024 |  | $ | 36,216 |
2025 |  | 49,622 |
2026 |  | 40,778 |
2027 |  | 35,834 |
2028 |  | 35,289 |
2029 and thereafter |  | 143,962 |
|  | $ | 341,701 |

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- Definition Tabular disclosure of the characteristics, including initial carrying value, residual amount, weighted average useful life, of finite-lived intangible assets acquired during the period by major class. A major class is composed of intangible assets that can be grouped together because they are similar, either by nature or by their use in the operations of the company. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482665/350-30-50-1 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482665/350-30-50-1 + Details
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