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EQUITY AND EARNINGS PER SHARE (Tables) | 3 Months Ended
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Mar. 31, 2025
Earnings Per Share [Abstract] |
Schedule of Preferred Shares | The table below summarizes the Company’s outstanding preferred shares:
|  | Number of Shares |  | Liquidation Preference(A) |  |  |  |  |  | Dividends Declared per Share
|  | March 31, 2025 |  | December 31, 2024 |  | March 31, 2025 |  | December 31, 2024 |  | Issuance Discount |  | Carrying Value(C) |  | Three Months Ended March 31, |  |
Series(B) |  |  |  |  |  |  |  | 2025 |  | 2024 |  |  |  |  |  |
Series A, issued July 2019(D)(F)(H) |  | 4,200,068 |  |  | 6,200,068 |  |  | $ | 105,002 |  |  | $ | 155,002 |  |  | 3.15 | % |  | $ | 99,822 |  |  | $ | 0.64 |  |  | $ | 0.47 |  |  |  |  |  |  |
Series B, issued August 2019(D)(F) |  | 11,260,712 |  |  | 11,260,712 |  |  | 281,518 |  |  | 281,518 |  |  | 3.15 | % |  | 272,654 |  |  | 0.63 |  |  | 0.45 |  |  |  |  |  |  |
Series C, issued February 2020(D)(G) |  | 15,903,342 |  |  | 15,903,342 |  |  | 397,584 |  |  | 397,584 |  |  | 3.15 | % |  | 385,289 |  |  | 0.59 |  |  | 0.40 |  |  |  |  |  |  |
Series D, 7.00% issued September 2021(E) |  | 18,600,000 |  |  | 18,600,000 |  |  | 465,000 |  |  | 465,000 |  |  | 3.15 | % |  | 449,489 |  |  | 0.44 |  |  | 0.44 |  |  |  |  |  |  |
Total |  | 49,964,122 |  |  | 51,964,122 |  |  | $ | 1,249,104 |  |  | $ | 1,299,104 |  |  |  |  | $ | 1,207,254 |  |  | $ | 2.30 |  |  | $ | 1.76 |  |  |  |  |  |  |
(A)Each series has a liquidation preference or par value of $25.00 per share. (B)Under certain circumstances upon a change of control, our Series A, Series B, Series C and Series D are convertible to shares of our common stock. (C)Carrying value reflects par value less discount and issuance costs. (D)Fixed-to-floating rate cumulative redeemable preferred. (E)Fixed-rate reset cumulative redeemable preferred. (F)Effective August 15, 2024, dividends on the Series A and Series B accumulate at a floating rate. For the first quarter 2025 dividends, the Series A accrued dividends at a percentage of the $25.00 liquidation preference per share of the Series A equal to a three-month Chicago Mercantile Exchange (“CME”) SOFR, plus a spread adjustment of 0.261%, 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 three-month CME SOFR, plus a spread adjustment of 0.261%, plus a spread of 5.640%. (G)Effective February 15, 2025, dividends on the Series C accumulate at a floating rate. For the first quarter 2025 dividends, the Series C accrued dividends at a percentage of the $25.00 liquidation preference per share of the Series C equal to a three-month CME SOFR, plus a spread adjustment of 0.261%, plus a spread of 4.969%. (H)The Company redeemed 2.0 million shares on the redemption date of March 28, 2025.
Schedule of Dividends Declared | Common dividends have been declared as follows:
|  |  |  | Per Share |  |
Declaration Date |  | Payment Date |  | Quarterly Dividend |  | Total Amounts Distributed (millions)
March 20, 2024 |  | April 2024 |  | $ | 0.25 |  |  | $ | 120.9 |
June 18, 2024 |  | July 2024 |  | 0.25 |  |  | 122.4 |
September 20, 2024 |  | November 2024 |  | 0.25 |  |  | 129.9 |
December 16, 2024 |  | January 2025 |  | 0.25 |  |  | 130.2 |
March 21, 2025 |  | April 2025 |  | 0.25 |  |  | 132.5 |
Schedule of Basic and Diluted Earnings Per Share | The following table summarizes the basic and diluted EPS calculations:
|  | Three Months Ended March 31, |  |
|  | 2025 |  | 2024 |  |  |  |  |  |
Net Income |  | $ | 80,710 |  |  | $ | 287,487 |  |  |  |  |  |  |
Noncontrolling interests in income of consolidated subsidiaries |  | 1,086 |  |  | 3,452 |  |  |  |  |  |  |
Redeemable noncontrolling interests in income of consolidated subsidiaries |  | 813 |  |  | — |  |  |  |  |  |  |
Net Income Attributable to Rithm Capital Corp. |  | 78,811 |  |  | 284,035 |  |  |  |  |  |  |
Change in redemption value of redeemable noncontrolling interests |  | 15,611 |  |  | — |  |  |  |  |  |  |
Dividends on preferred stock |  | 26,677 |  |  | 22,395 |  |  |  |  |  |  |
Net Income Attributable to Common Stockholders |  | $ | 36,523 |  |  | $ | 261,640 |  |  |  |  |  |  |
Basic weighted average shares of common stock outstanding |  | 524,104,842 |  | 483,336,777 |  |  |  |  |  |
Effect of Dilutive Securities(A)(B): |  |  |  |  |  |  |  |  |  |
Stock options |  | 149 |  | 897,800 |  |  |  |  |  |
Restricted stock |  | 170,438 |  | 274,754 |  |  |  |  |  |
Time-based RSU awards |  | 2,842,044 |  | 816,310 |  |  |  |  |  |
Performance-based RSU awards |  | 2,050,152 |  | 605,860 |  |  |  |  |  |
Time vesting Class B Profit Units |  | 472,973 |  | — |  |  |  |  |  |
Performance vesting Class B Profit Units |  | 958,957 |  | — |  |  |  |  |  |
Diluted Weighted Average Shares of Common Stock Outstanding |  | 530,599,555 |  | 485,931,501 |  |  |  |  |  |
Basic Earnings per Share Attributable to Common Stockholders |  | $ | 0.07 |  |  | $ | 0.54 |  |  |  |  |  |  |
Diluted Earnings per Share Attributable to Common Stockholders |  | $ | 0.07 |  |  | $ | 0.54 |  |  |  |  |  |  |
(A)Certain stock options 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. (B)Awards related to stock-based compensation were included to the extent dilutive and issuable under the relevant time and/or performance measures.

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