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v3.25.1

SEGMENT REPORTING (Tables) | 3 Months Ended
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Mar. 31, 2025
Segment Reporting [Abstract] |
Summary of Segment Financial Data | The following tables summarize segment financial information, including the Corporate category explained above, which in total reconciles to the same data for Rithm Capital on a consolidated basis:
|  | Origination and Servicing |  | Investment Portfolio |  | Residential Transitional Lending |  | Asset Management |  | Corporate Category |  | Total
Three Months Ended March 31, 2025 |  |  |  |  |  |  |  |  |  |  |  |
Servicing fee revenue, net and interest income from MSRs and MSR financing receivables |  | $ | 570,801 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 570,801 |
Change in fair value of MSRs and MSR financing receivables (includes realization of cash flows of $(146,891)) |  | (541,916) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (541,916) |
Servicing revenue, net |  | 28,885 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 28,885 |
Interest income |  | 292,561 |  |  | 71,790 |  |  | 66,508 |  |  | 9,413 |  |  | 988 |  |  | 441,260 |
Gain on originated residential mortgage loans, held-for-sale, net |  | 151,494 |  |  | 8,295 |  |  | — |  |  | — |  |  | — |  |  | 159,789 |
Other revenues |  | 25,738 |  |  | 25,035 |  |  | — |  |  | — |  |  | — |  |  | 50,773 |
Asset management revenues |  | — |  |  | — |  |  | — |  |  | 87,672 |  |  | — |  |  | 87,672 |
Total Revenues |  | 498,678 |  |  | 105,120 |  |  | 66,508 |  |  | 97,085 |  |  | 988 |  |  | 768,379 |
Interest expense and warehouse line fees |  | 292,948 |  |  | 59,636 |  |  | 31,701 |  |  | 14,089 |  |  | 20,680 |  |  | 419,054 |
Other segment expenses(A) |  | 143,767 |  |  | 22,992 |  |  | 4,831 |  |  | 31,591 |  |  | 9,797 |  |  | 212,978 |
Compensation and benefits |  | 172,702 |  |  | 1,162 |  |  | 14,391 |  |  | 65,330 |  |  | 17,882 |  |  | 271,467 |
Depreciation and amortization |  | 7,659 |  |  | 7,954 |  |  | 1,567 |  |  | 7,384 |  |  | 4 |  |  | 24,568 |
Total Operating Expenses |  | 617,076 |  |  | 91,744 |  |  | 52,490 |  |  | 118,394 |  |  | 48,363 |  |  | 928,067 |
Realized and unrealized gains (losses), net |  | 208,538 |  |  | 3,094 |  |  | 2,043 |  |  | (6,280) |  |  | — |  |  | 207,395 |
Other income (loss), net |  | (118) |  |  | 1,489 |  |  | (141) |  |  | 7,838 |  |  | 5 |  |  | 9,073 |
Total Other Income |  | 208,420 |  |  | 4,583 |  |  | 1,902 |  |  | 1,558 |  |  | 5 |  |  | 216,468 |
Income (Loss) before Income Taxes |  | 90,022 |  |  | 17,959 |  |  | 15,920 |  |  | (19,751) |  |  | (47,370) |  |  | 56,780 |
Income tax expense (benefit) |  | (56,694) |  |  | (8,512) |  |  | (1,090) |  |  | 42,366 |  |  | — |  |  | (23,930) |
Net Income (Loss) |  | 146,716 |  |  | 26,471 |  |  | 17,010 |  |  | (62,117) |  |  | (47,370) |  |  | 80,710 |
Noncontrolling interests in income of consolidated subsidiaries |  | 354 |  |  | 728 |  |  | — |  |  | 4 |  |  | — |  |  | 1,086 |
Redeemable noncontrolling interests in income of consolidated subsidiaries |  | — |  |  | — |  |  | — |  |  | 3 |  |  | 810 |  |  | 813 |
Net Income (Loss) Attributable to Rithm Capital Corp. |  | 146,362 |  |  | 25,743 |  |  | 17,010 |  |  | (62,124) |  |  | (48,180) |  |  | 78,811 |
Change in redemption value of redeemable noncontrolling interests |  | — |  |  | — |  |  | — |  |  | — |  |  | 15,611 |  |  | 15,611 |
Dividends on preferred stock |  | — |  |  | — |  |  | — |  |  | — |  |  | 26,677 |  |  | 26,677 |
Net Income (Loss) Attributable to Common Stockholders |  | $ | 146,362 |  |  | $ | 25,743 |  |  | $ | 17,010 |  |  | $ | (62,124) |  |  | $ | (90,468) |  |  | $ | 36,523 |
(A)The Origination and Servicing segment’s other segment expenses primarily include expenses related to loan origination and servicing, information technology, occupancy and legal and professional services. The Investment Portfolio segment’s other segment expenses primarily include expenses related to loan servicing and property and maintenance. The Residential Transitional Lending segment’s other segment expenses primarily include expenses related to loan origination, occupancy and information technology. The Asset Management segment’s other segment expenses primarily include expenses related to legal and professional services, information technology and occupancy.
|  | Origination and Servicing |  | Investment Portfolio |  | Residential Transitional Lending |  | Asset Management |  | Corporate Category |  | Total
March 31, 2025 |  |  |  |  |  |  |  |  |  |  |  |
Investments |  | $ | 22,756,176 |  |  | $ | 3,502,073 |  |  | $ | 2,335,218 |  |  | $ | — |  |  | $ | — |  |  | $ | 28,593,467 |
Cash and cash equivalents |  | 1,000,135 |  |  | 24,149 |  |  | 47,107 |  |  | 130,300 |  |  | 292,143 |  |  | 1,493,834 |
Restricted cash |  | 174,176 |  |  | 52,068 |  |  | 34,673 |  |  | 19,971 |  |  | 230,810 |  |  | 511,698 |
Other assets |  | 6,166,441 |  |  | 2,271,563 |  |  | 204,183 |  |  | 977,086 |  |  | 4,938 |  |  | 9,624,211 |
Goodwill |  | 29,468 |  |  | — |  |  | 55,731 |  |  | 48,633 |  |  | — |  |  | 133,832 |
Assets of consolidated CFEs(A) |  | — |  |  | 2,718,096 |  |  | 990,168 |  |  | 1,264,537 |  |  | — |  |  | 4,972,801 |
Total Assets |  | $ | 30,126,396 |  |  | $ | 8,567,949 |  |  | $ | 3,667,080 |  |  | $ | 2,440,527 |  |  | $ | 527,891 |  |  | $ | 45,329,843 |
Debt |  | $ | 20,352,469 |  |  | $ | 4,252,015 |  |  | $ | 1,934,141 |  |  | $ | 451,192 |  |  | $ | 1,034,959 |  |  | $ | 28,024,776 |
Other liabilities |  | 4,248,496 |  |  | 419,235 |  |  | 26,469 |  |  | (12,881) |  |  | 251,701 |  |  | 4,933,020 |
Liabilities of consolidated CFEs(A) |  | — |  |  | 2,310,483 |  |  | 860,843 |  |  | 1,059,467 |  |  | — |  |  | 4,230,793 |
Total Liabilities |  | 24,600,965 |  |  | 6,981,733 |  |  | 2,821,453 |  |  | 1,497,778 |  |  | 1,286,660 |  |  | 37,188,589 |
Redeemable Noncontrolling Interests of Consolidated Subsidiaries |  | — |  |  | — |  |  | — |  |  | 25,604 |  |  | 230,810 |  |  | 256,414 |
Total Stockholders’ Equity |  | 5,525,431 |  |  | 1,586,216 |  |  | 845,627 |  |  | 917,145 |  |  | (989,579) |  |  | 7,884,840 |
Noncontrolling interests in equity of consolidated subsidiaries |  | 9,100 |  |  | 58,688 |  |  | — |  |  | 40,928 |  |  | — |  |  | 108,716 |
Stockholders’ Equity in Rithm Capital Corp. |  | $ | 5,516,331 |  |  | $ | 1,527,528 |  |  | $ | 845,627 |  |  | $ | 876,217 |  |  | $ | (989,579) |  |  | $ | 7,776,124 |
Investments in Equity Method Investees |  | $ | 25,179 |  |  | $ | 294,756 |  |  | $ | 14,407 |  |  | $ | 205,573 |  |  | $ | — |  |  | $ | 539,915 |
December 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |
Total Assets |  | $ | 32,418,256 |  |  | $ | 7,463,738 |  |  | $ | 3,439,075 |  |  | $ | 2,508,130 |  |  | $ | 219,758 |  |  | $ | 46,048,957 |
(A)Includes assets and liabilities of certain consolidated VIEs that meet the definition of CFEs. These assets can only be used to settle obligations and liabilities of such VIEs for which creditors do not have recourse to Rithm Capital Corp.
|  | Origination and Servicing |  | Investment Portfolio |  | Residential Transitional Lending |  | Asset Management |  | Corporate Category |  | Total
Three Months Ended March 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |
Servicing fee revenue, net and interest income from MSRs and MSR financing receivables |  | $ | 469,891 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 469,891 |
Change in fair value of MSRs and MSR financing receivables (includes realization of cash flows of $(116,839)) |  | 84,175 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 84,175 |
Servicing revenue, net |  | 554,066 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 554,066 |
Interest income |  | 275,205 |  |  | 89,959 |  |  | 64,720 |  |  | 4,909 |  |  | 2 |  |  | 434,795 |
Gain (loss) on originated residential mortgage loans, held-for-sale, net |  | 145,869 |  |  | (3,411) |  |  | — |  |  | — |  |  | — |  |  | 142,458 |
Other revenues |  | 32,379 |  |  | 25,969 |  |  | — |  |  | — |  |  | — |  |  | 58,348 |
Asset management revenues |  | — |  |  | — |  |  | — |  |  | 70,951 |  |  | — |  |  | 70,951 |
Total Revenues |  | 1,007,519 |  |  | 112,517 |  |  | 64,720 |  |  | 75,860 |  |  | 2 |  |  | 1,260,618 |
Interest expense and warehouse line fees |  | 288,856 |  |  | 70,392 |  |  | 32,414 |  |  | 7,621 |  |  | 10,544 |  |  | 409,827 |
Other segment expenses(A) |  | 114,506 |  |  | 21,541 |  |  | 3,187 |  |  | 23,922 |  |  | 9,944 |  |  | 173,100 |
Compensation and benefits |  | 157,981 |  |  | 568 |  |  | 11,303 |  |  | 63,112 |  |  | 2,814 |  |  | 235,778 |
Depreciation and amortization |  | 14,630 |  |  | 7,742 |  |  | 1,567 |  |  | 8,013 |  |  | — |  |  | 31,952 |
Total Operating Expenses |  | 575,973 |  |  | 100,243 |  |  | 48,471 |  |  | 102,668 |  |  | 23,302 |  |  | 850,657 |
Realized and unrealized gains (losses), net |  | (65,257) |  |  | 2,687 |  |  | 24,566 |  |  | (6,842) |  |  | — |  |  | (44,846) |
Other income, net |  | 25 |  |  | 11,479 |  |  | 274 |  |  | 3,969 |  |  | 37 |  |  | 15,784 |
Total Other Income (Loss) |  | (65,232) |  |  | 14,166 |  |  | 24,840 |  |  | (2,873) |  |  | 37 |  |  | (29,062) |
Income (Loss) before Income Taxes |  | 366,314 |  |  | 26,440 |  |  | 41,089 |  |  | (29,681) |  |  | (23,263) |  |  | 380,899 |
Income tax expense (benefit) |  | 96,201 |  |  | 1,248 |  |  | (333) |  |  | (3,704) |  |  | — |  |  | 93,412 |
Net Income (Loss) |  | 270,113 |  |  | 25,192 |  |  | 41,422 |  |  | (25,977) |  |  | (23,263) |  |  | 287,487 |
Noncontrolling interests in income of consolidated subsidiaries |  | 55 |  |  | 2,037 |  |  | — |  |  | 1,360 |  |  | — |  |  | 3,452 |
Net Income (Loss) Attributable to Rithm Capital Corp. |  | 270,058 |  |  | 23,155 |  |  | 41,422 |  |  | (27,337) |  |  | (23,263) |  |  | 284,035 |
Dividends on preferred stock |  | — |  |  | — |  |  | — |  |  | — |  |  | 22,395 |  |  | 22,395 |
Net Income (Loss) Attributable to Common Stockholders |  | $ | 270,058 |  |  | $ | 23,155 |  |  | $ | 41,422 |  |  | $ | (27,337) |  |  | $ | (45,658) |  |  | $ | 261,640 |
(A)The Origination and Servicing segment’s other segment expenses primarily include expenses related to loan origination and servicing, information technology, occupancy and legal and professional services. The Investment Portfolio segment’s other segment expenses primarily include expenses related to loan servicing and property and maintenance. The Residential Transitional Lending segment’s other segment expenses primarily include expenses related to loan origination, occupancy and information technology. The Asset Management segment’s other segment expenses primarily include expenses related to legal and professional services, information technology and occupancy.

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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