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GOODWILL AND INTANGIBLE ASSETS

9 Months Ended

Sep. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS

As a result of acquisitions, the Company recognized intangible assets in the form of management contracts, customer relationships, purchased technology, trademarks and trade names. The Company also recognized goodwill on certain acquisitions. Goodwill and intangible assets are presented within other assets on Rithm Capital’s consolidated balance sheets.

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
Accumulated impairment loss			—						—						—						—						—
Balance at September 30, 2024			$	24,376					$	5,092					$	55,731					$	46,658					$	131,857

The following table summarizes the acquired identifiable intangible assets:

			Estimated Useful Lives (Years)						September 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(B)			3 to 7						139,964						137,922
Trademarks / Trade names(C)			1 to 5						10,259						10,259
									499,172						481,130
Accumulated Amortization(A):
Management contracts									24,015						3,388
Customer relationships									23,062						17,834
Purchased technology									104,315						67,145
Trademarks / Trade names									5,728						4,843
									157,120						93,210
Intangible Assets, Net:
Management contracts									250,985						271,612
Customer relationships									50,887						40,115
Purchased technology(B)									35,649						70,777
Trademarks / Trade names(C)									4,531						5,416
									$	342,052					$	387,920

(A)Amortization expense is presented within general and administrative expenses in the consolidated statements of operations.

(B)Includes indefinite-lived intangible assets of $21.4 million as of September 30, 2024 and December 31, 2023.

(C)Includes indefinite-lived intangible assets of $1.9 million as of September 30, 2024 and December 31, 2023.

The Company did not record any impairment loss on its intangible assets for the three and nine months ended September 30, 2024 and 2023.

The following table summarizes the expected future amortization expense for acquired intangible assets as of September 30, 2024:

Year Ending						Amortization Expense
October 1 through December 31, 2024						$	14,090
2025						49,267
2026						40,465
2027						35,738
2028						35,289
2029 and thereafter						143,962
						$	318,811

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- References

No definition available.

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- Definition

The entire disclosure for goodwill and intangible assets.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 30
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/350-30/tableOfContent

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/350-20/tableOfContent

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