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GOODWILL AND INTANGIBLE ASSETS | 3 Months Ended
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Mar. 31, 2025
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 |  | Residential Transitional Lending |  | Asset Management |  | Total
Balance at December 31, 2024 |  | 29,468 |  |  | 55,731 |  |  | 48,633 |  |  | 133,832 |
Impairment loss |  | — |  |  | — |  |  | — |  |  | — |
Balance at March 31, 2025 |  | $ | 29,468 |  |  | $ | 55,731 |  |  | $ | 48,633 |  |  | $ | 133,832 |
The following table summarizes the acquired identifiable intangible assets:
| Estimated Useful Lives (Years) |  | March 31, 2025 |  | December 31, 2024
Gross Intangible Assets: |  |  |  |  |
Management contracts | 10 |  | $ | 275,000 |  |  | $ | 275,000 |
Customer relationships | 2 to 9 |  | 79,753 |  |  | 79,753 |
Purchased technology | 3 to 7 |  | 109,539 |  |  | 105,567 |
Trademarks / Trade names(A) | 1 to 5 |  | 10,259 |  |  | 10,259 |
Licenses | Indefinite |  | 21,365 |  |  | 21,365 |
|  |  | 495,916 |  |  | 491,944 |
Accumulated Amortization: |  |  |  |  |
Management contracts |  |  | 37,716 |  |  | 30,940 |
Customer relationships |  |  | 32,318 |  |  | 25,773 |
Purchased technology |  |  | 100,671 |  |  | 97,259 |
Trademarks / Trade names |  |  | 6,318 |  |  | 6,023 |
|  |  | 177,023 |  |  | 159,995 |
Intangible Assets, Net: |  |  |  |  |
Management contracts |  |  | 237,284 |  |  | 244,060 |
Customer relationships |  |  | 47,435 |  |  | 53,980 |
Purchased technology |  |  | 8,868 |  |  | 8,308 |
Trademarks / Trade names(A) |  |  | 3,941 |  |  | 4,236 |
Licenses |  |  | 21,365 |  |  | 21,365 |
|  |  | $ | 318,893 |  |  | $ | 331,949 |
(A)Includes indefinite-lived intangible assets of $1.9 million as of March 31, 2025 and December 31, 2024. The Company did not record any impairment loss on its intangible assets for the three months ended March 31, 2025 and 2024. The following table summarizes the amortization expense recorded by the Company related to its intangible assets. Amortization expense related to intangible assets is included in general and administrative in the consolidated statements of operations.
|  | Three Months Ended March 31, |  |
|  | 2025 |  | 2024 |  |  |  |  |  |
Amortization expense |  | $ | 13,056 |  |  | $ | 18,953 |  |  |  |  |  |  |
The following table summarizes the expected future amortization expense for intangible assets as of March 31, 2025:
Year Ending |  | Amortization Expense
2026 |  | $ | 36,244 |
2027 |  | 41,073 |
2028 |  | 36,888 |
2029 |  | 36,317 |
2030 |  | 35,898 |
2031 and thereafter |  | 109,232 |
|  | $ | 295,652 |

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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 + Details
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