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EQUITY AND EARNINGS PER SHARE (Tables)
 9 Months Ended
Sep. 30, 2024
Earnings Per Share [Abstract]  
Schedule of Preferred Shares
The table below summarizes preferred shares:
Dividends Declared per Share
Number of SharesThree Months Ended
September 30,		Nine Months Ended
September 30,
SeriesSeptember 30, 2024December 31, 2023
Liquidation Preference(A)
Issuance Discount
Carrying Value(B)
2024202320242023
Series A, issued July 2019(C)(E)
6,200,000 6,200,000 $155,002 3.15 %$149,822 $0.71 $0.47 $1.65 $1.41 
Series B, issued August 2019(C)(E)
11,261,000 11,261,000 281,518 3.15 %272,654 0.70 0.45 1.59 1.34 
Series C, 6.375% issued February 2020(C)
15,903,000 15,903,000 397,584 3.15 %385,289 0.40 0.40 1.20 1.20 
Series D, 7.00% issued September 2021(D)
18,600,000 18,600,000 465,000 3.15 %449,489 0.44 0.44 1.31 1.31 
Total51,964,000 51,964,000 $1,299,104 $1,257,254 $2.25 $1.76 $5.75 $5.26 
(A)Each series has a liquidation preference or par value of $25.00 per share.
(B)Carrying value reflects par value less discount and issuance costs.
(C)Fixed-to-floating rate cumulative redeemable preferred.
(D)Fixed-rate reset cumulative redeemable preferred.
(E)Effective August 15, 2024, dividends on the Series A and Series B accumulate at a floating rate. For the third quarter 2024 dividend, the Series A accrued dividends at a percentage of the $25.00 liquidation preference per share of the Series A equal to a floating rate of a three-month LIBOR plus a spread of 5.802%, and dividends on the Series B accumulated at a percentage of the $25.00 liquidation preference per share of the Series B preferred shares equal to a floating rate of a three-month LIBOR plus a spread of 5.640%.
Schedule of Common Dividends Declared
Common dividends have been declared as follows:
Declaration DatePayment DatePer ShareTotal Amounts Distributed (millions)
Quarterly Dividend
June 23, 2023July 2023$0.25 $120.8 
September 14, 2023October 2023$0.25 $120.8 
December 12, 2023January 2024$0.25 $120.8 
March 20, 2024April 2024$0.25 $120.9 
June 18, 2024July 2024$0.25 $122.4 
September 20, 2024November 2024$0.25 $129.9 
Schedule of Outstanding Options
The following table summarizes outstanding options as of September 30, 2024. The last sales price on the New York Stock Exchange for Rithm Capital’s common stock in the quarter ended September 30, 2024, was $11.35 per share:
Recipient
Date of
Grant/
Exercise(A)
Number of Unexercised
Options
Options
Exercisable
as of
September 30, 2024
Weighted
Average
Exercise
Price(B)
Intrinsic Value of Exercisable Options as of
September 30, 2024
Independent DirectorsVarious2,000 2,000 $10.70 $1 
Former Manager20171,130,916 1,130,916 12.84 — 
Former Manager20185,320,000 5,320,000 15.57 — 
Former Manager20196,351,000 6,351,000 14.95 — 
Former Manager20201,619,739 1,619,739 16.30 — 
Former Manager20217,050,335 7,050,335 9.38 13,912
Outstanding21,473,990 21,473,990 
(A)Options expire on the tenth anniversary from date of grant.
(B)The exercise prices are subject to adjustment in connection with return of capital dividends.
Schedule of Basic and Diluted Earnings Per Share Calculations
The following table summarizes the basic and diluted EPS calculations:
Three Months Ended
September 30,		Nine Months Ended
September 30,
2024202320242023
Net income$123,581 $221,191 $649,585 $697,825 
Noncontrolling interests in income of consolidated subsidiaries
1,839 4,848 8,252 10,437 
Dividends on preferred stock24,718 22,394 69,508 67,184 
Net Income Attributable to Common Stockholders$97,024 $193,949 $571,825 $620,204 
Basic weighted average shares of common stock outstanding491,362,857 483,214,061 487,155,900 481,503,762 
Effect of Dilutive Securities:(A)(B)
Stock options1,239,374363,7791,073,199 120,828 
Common stock purchase warrants——— 1,484,737 
Restricted stock140,547180,686178,701 224,350 
Time-based restricted stock unit awards
1,817,896278,9511,375,982 92,651 
Performance-based restricted stock unit awards
1,633,437312,8111,179,634 103,899 
Time vesting Class B Profits Units(A)(B)
245,439 — 126,893 — 
Performance vesting Class B Profits Units(A)(B)
361,137 — 167,817 — 
Diluted Weighted Average Shares of Common Stock Outstanding496,800,687 484,350,288 491,258,126 483,530,227 
Basic Earnings per Share Attributable to Common Stockholders$0.20 $0.40 $1.17 $1.29 
Diluted Earnings per Share Attributable to Common Stockholders$0.20 $0.40 $1.16 $1.28 
(A)Certain stock options and common stock purchase warrants that could potentially dilute basic EPS in the future were not included in the computation of diluted EPS for the periods where they were out-of-the-money or a loss has been recorded, because they would have been anti-dilutive for the period presented. There were no anti-dilutive common stock purchase warrants for all periods presented.
(B)Awards related to stock-based compensation were included to the extent dilutive and issuable under the relevant time and/or performance measures.