GOODWILL AND INTANGIBLE ASSETS

3 Months Ended

Mar. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS

As a result of acquisitions, the Company identified 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 in the Consolidated Balance Sheets.

The following table summarizes the carrying value of goodwill by reportable segment:

	Origination and Servicing		Investment Portfolio		Mortgage Loans Receivable		Asset Management		Total
Balance at December 31, 2023	$	24,376	$	5,092	$	55,731	$	46,658	$	131,857
Goodwill acquired	—		—		—		—		—
Accumulated impairment loss	—		—		—		—		—
Balance at March 31, 2024	$	24,376	$	5,092	$	55,731	$	46,658	$	131,857

The following table summarizes the acquired identifiable intangible assets:

	Estimated Useful Lives (Years)	March 31, 2024		December 31, 2023
Gross Intangible Assets
Management contracts	10	$	275,000	$	275,000
Customer relationships	3 to 9	57,949		57,949
Purchased technology	3 to 5	137,922		137,922
Trademarks / Trade names	1 to 5	10,259		10,259
		$	481,130	$	481,130
Accumulated Amortization(A)
Management contracts		$	10,240	$	3,388
Customer relationships		27,424		17,834
Purchased technology		69,361		67,145
Trademarks / Trade names		5,138		4,843
		$	112,163	$	93,210
Intangible Assets, Net
Management contracts		$	264,760	$	271,612
Customer relationships		30,525		40,115
Purchased technology(B)		68,561		70,777
Trademarks / Trade names(C)		5,121		5,416
		$	368,967	$	387,920

(A)Amortization expense is presented within general and administrative expense on Rithm Capital’s Consolidated Statements of Operations.

(B)Includes indefinite-lived intangible assets of $21.4 million and $21.4 million, respectively.

(C)Includes indefinite-lived intangible assets of $1.9 million and $1.9 million, respectively.

The Company did not record any impairment loss on its intangible assets for the period ending March 31, 2024.

The following table summarizes the expected future amortization expense for acquired intangible assets as of March 31, 2024:

Year Ending	Amortization Expense
April 1 through December 31, 2024	$	57,294
2025	44,165
2026	37,657
2027	33,806
2028	32,305
2029 and thereafter	140,499
	$	345,726