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EQUITY AND EARNINGS PER SHARE (Tables)
 9 Months Ended
Sep. 30, 2023
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, 2023December 31, 2022
Liquidation Preference(A)
Issuance Discount
Carrying Value(B)
2023202220232022
Series A, 7.50% issued July 2019(C)
6,200 6,200 $155,002 3.15 %$149,822 $0.47 $0.47 $1.41 $1.41 
Series B, 7.125% issued August 2019(C)
11,261 11,261 281,518 3.15 %272,654 0.45 0.45 1.34 1.34 
Series C, 6.375% issued February 2020(C)
15,903 15,903 397,584 3.15 %385,289 0.40 0.40 1.20 1.20 
Series D, 7.00% issued September 2021(D)
18,600 18,600 465,000 3.15 %449,489 0.44 0.44 1.31 1.31 
Total51,964 51,964 $1,299,104 $1,257,254 $1.76 $1.76 $5.26 $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.
Schedule of Dividends Declared
Common dividends have been declared as follows:
Declaration DatePayment DatePer ShareTotal Amounts Distributed (millions)
Quarterly Dividend
June 17, 2022July 20220.25 116.7 
September 22, 2022October 20220.25 118.4 
December 15, 2022January 20230.25 118.6 
March 17, 2023April 20230.25 120.8 
June 23, 2023July 20230.25 120.8 
September 14, 2023October 20230.25 120.8 
Schedule of Warrants
The table below summarizes the 2020 Warrants at September 30, 2023:
Number of Warrants (in millions)Adjusted Weighted Average Exercise Price
(per share)
Initial
Adjusted(A)
December 31, 2022
22.4 25.6 $6.1 
Granted— — — 
Exercised(22.4)(25.6)6.1 
Expired— — — 
September 30, 2023
— — 
(A)Reflects the incremental number of additional common stock issuable upon exercise of warrants in accordance with the warrant agreement.
Schedule of Outstanding Options
As of September 30, 2023, outstanding options were as follows:
Held by Former Manager21,471,990
Issued to the independent directors2,000
Total21,473,990 

The following table summarizes outstanding options as of September 30, 2023. The last sales price on the New York Stock Exchange for Rithm Capital’s common stock in the quarter ended September 30, 2023 was $9.29 per share.
Recipient
Date of
Grant/
Exercise(A)
Number of Unexercised
Options
Options
Exercisable
as of
September 30, 2023
Weighted
Average
Exercise
Price(B)
Intrinsic Value of Exercisable Options as of
September 30, 2023
(millions)
DirectorsVarious2,000 2,000 $10.70 $— 
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 6,501,162 9.35 —
Outstanding21,473,990 20,924,817 
(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.
 
The following table summarizes activity in outstanding options:
Number of OptionsWeighted Average Exercise Price
December 31, 2022
21,476,990 $— 
Granted— — 
Exercised— — 
Expired(3,000)14.24 
September 30, 2023
21,473,990 See table above
Schedule of Restricted Stock Awards
The table below summarizes the Company’s awards granted, forfeited or vested under the 2013 Plan and the 2023 Plan during the nine months ended September 30, 2023:
Number of SharesGrant Date Price
RSAsRSUsPSUsTotalRSAsRSUsPSUs
Unvested Shares at December 31, 2022
578,034 — — 578,034 $8.65 $— $— 
Granted— 1,215,329 2,430,658 3,645,987 — 9.52 9.52 
Accrued RSU and PSU dividend equivalents(A)
— 98,384 196,768 295,152 — 9.52 9.52 
Vested(192,678)— — (192,678)8.65 — — 
Forfeited— (23,003)(46,006)(69,009)— 9.52 9.52 
Unvested Shares at September 30, 2023(A)
385,356 1,290,710 2,581,420 4,257,486 
(A)Number of PSUs assumes maximum levels of performance are achieved for outstanding unvested PSU awards.
Schedule of Basic and Diluted Earnings Per Share
The following table summarizes the basic and diluted earnings per share calculations:
Three Months Ended
September 30,		Nine Months Ended
September 30,
2023202220232022
Net income$221,191 $154,190 $697,825 $877,452 
Noncontrolling interests in income of consolidated subsidiaries
4,848 7,307 10,437 27,098 
Dividends on preferred stock22,394 22,427 67,184 67,315 
Net income attributable to common stockholders$193,949 $124,456 $620,204 $783,039 
Basic weighted average shares of common stock outstanding483,214,061 467,974,962 481,503,762 467,192,721 
Dilutive effect of stock options, restricted stock, common stock purchase warrants, RSUs and PSUs(A)(B)
1,136,227 8,821,795 2,026,465 14,707,408 
Diluted weighted average shares of common stock outstanding484,350,288 476,796,757 483,530,227 481,900,129 
Basic earnings per share attributable to common stockholders$0.40 $0.27 $1.29 $1.68 
Diluted earnings per share attributable to common stockholders$0.40 $0.26 $1.28 $1.62 
(A)Stock options and common stock purchase warrants that could potentially dilute basic earnings per share in the future were not included in the computation of diluted earnings per share 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)RSU and PSU awards were included to the extent dilutive and issuable under the relevant performance measures.