SEGMENT REPORTING (Tables)

3 Months Ended

Mar. 31, 2024

The following tables summarize segment financial information, which in total reconciles to the same data for Rithm Capital on a consolidated basis:



	Origination and Servicing		Investment Portfolio		Mortgage Loans Receivable		Asset Management		Corporate		Total
Three Months Ended March 31, 2024
Servicing fee revenue, net and interest income from MSRs and MSR financing receivables	$	397,478	$	72,725	$	—	$	—	$	—	$	470,203
Change in fair value of MSRs and MSR financing receivables (includes realization of cash flows of $(116,839))	93,361		(9,186)		—		—		—		84,175
Servicing revenue, net	490,839		63,539		—		—		—		554,378
Interest income	140,021		234,491		73,665		—		2		448,179
Gain on originated residential mortgage loans, HFS, net	145,869		3,676		—		—		—		149,545
Other investment portfolio revenues	—		58,348		—		—		—		58,348
Asset management revenues(A)	—		—		—		75,860		—		75,860
Total revenues	776,729		360,054		73,665		75,860		2		1,286,310
Interest expense	131,174		228,073		36,953		7,621		10,544		414,365
General and administrative	83,564		64,921		4,754		31,935		9,944		195,118
Compensation and benefits	153,806		4,743		11,303		63,112		2,814		235,778
Total operating expenses	368,544		297,737		53,010		102,668		23,302		845,261
Realized and unrealized gains (losses), net	—		(81,452)		20,160		(6,842)		—		(68,134)
Other income (loss), net	(36)		3,740		274		3,969		37		7,984
Total other income (loss)	(36)		(77,712)		20,434		(2,873)		37		(60,150)
Income (loss) before income taxes	408,149		(15,395)		41,089		(29,681)		(23,263)		380,899
Income tax expense (benefit)	96,201		1,248		(333)		(3,704)		—		93,412
Net income (loss)	311,948		(16,643)		41,422		(25,977)		(23,263)		287,487
Noncontrolling interests in income (loss) of consolidated subsidiaries	55		2,037		—		1,360		—		3,452
Dividends on preferred stock	—		—		—		—		22,395		22,395
Net income (loss) attributable to common stockholders	$	311,893	$	(18,680)	$	41,422	$	(27,337)	$	(45,658)	$	261,640

(A)Includes $4.9 million of asset management related interest income (Note 25).



	Origination and Servicing		Investment Portfolio		Mortgage Loans Receivable		Asset Management		Corporate		Total
March 31, 2024
Investments	$	10,844,061	$	19,207,349	$	2,384,744	$	211,996	$	—	$	32,648,150
Cash and cash equivalents	468,355		505,162		60,713		82,460		19,747		1,136,437
Restricted cash	237,186		93,654		55,458		8,248		—		394,546
Other assets	3,427,033		3,046,638		133,198		1,179,469		23,600		7,809,938
Goodwill	24,376		5,092		55,731		46,658		—		131,857
Total assets	$	15,001,011	$	22,857,895	$	2,689,844	$	1,528,831	$	43,347	$	42,120,928
Debt	$	7,621,241	$	18,446,477	$	1,981,198	$	442,350	$	1,030,566	$	29,521,832
Other liabilities	3,294,952		1,418,010		20,435		437,230		185,097		5,355,724
Total liabilities	10,916,193		19,864,487		2,001,633		879,580		1,215,663		34,877,556
Total equity	4,084,818		2,993,408		688,211		649,251		(1,172,316)		7,243,372
Noncontrolling interests in equity of consolidated subsidiaries	8,051		43,426		—		42,343		—		93,820
Total Rithm Capital stockholders’ equity	$	4,076,767	$	2,949,982	$	688,211	$	606,908	$	(1,172,316)	$	7,149,552
Investments in equity method investees	$	—	$	117,146	$	—	$	102,000	$	—	$	219,146



	Origination and Servicing		Investment Portfolio		Mortgage Loans Receivable		Asset Management		Corporate		Total
Three Months Ended March 31, 2023
Servicing fee revenue, net and interest income from MSRs and MSR financing receivables	$	349,424	$	120,415	$	—	$	—	$	—	$	469,839
Change in fair value of MSRs and MSR financing receivables (includes realization of cash flows of $(105,691))	(37,526)		(104,778)		—		—		—		(142,304)
Servicing revenue, net	311,898		15,637		—		—		—		327,535
Interest income	109,766		178,511		58,337		—		—		346,614
Gain on originated residential mortgage loans, HFS, net	108,221		1,047		—		—		—		109,268
Other investment portfolio revenues	—		58,144		—		—		—		58,144
Asset management revenues	—		—		—		—		—		—
Total revenues	529,885		253,339		58,337		—		—		841,561
Interest expense	111,069		157,910		30,692		—		9,397		309,068
General and administrative	80,832		74,369		4,129		—		7,825		167,155
Compensation and benefits	160,514		7,136		12,102		—		9,128		188,880
Total operating expenses	352,415		239,415		46,923		—		26,350		665,103
Realized and unrealized gains (losses), net	(23)		(73,314)		(4,812)		—		—		(78,149)
Other income (loss), net	(13,427)		(5,270)		1,713		—		(8,182)		(25,166)
Total other income (loss)	(13,450)		(78,584)		(3,099)		—		(8,182)		(103,315)
Income (loss) before income taxes	164,020		(64,660)		8,315				(34,532)		73,143
Income tax expense (benefit)	(3,672)		(11,040)		(2,094)		—		—		(16,806)
Net income (loss)	167,692		(53,620)		10,409		—		(34,532)		89,949
Noncontrolling interests in income (loss) of consolidated subsidiaries	(42)		(1,258)		—		—		—		(1,300)
Dividends on preferred stock	—		—		—		—		22,395		22,395
Net income (loss) attributable to common stockholders	$	167,734	$	(52,362)	$	10,409	$	—	$	(56,927)	68,854