GOODWILL AND INTANGIBLE ASSETS

6 Months Ended

Jun. 30, 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 on Rithm Capital’s 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 June 30, 2024	$	24,376	$	5,092	$	55,731	$	46,658	$	131,857

The following table summarizes the acquired identifiable intangible assets:

	Estimated Useful Lives (Years)	June 30, 2024		December 31, 2023
Gross Intangible Assets
Management contracts	10	$	275,000	$	275,000
Customer relationships	2 to 9	73,949		57,949
Purchased technology	3 to 7	139,964		137,922
Trademarks / Trade names	1 to 5	10,259		10,259
		$	499,172	$	481,130
Accumulated Amortization(A)
Management contracts		$	17,090	$	3,388
Customer relationships		20,022		17,834
Purchased technology		91,685		67,145
Trademarks / Trade names		5,433		4,843
		$	134,230	$	93,210
Intangible Assets, Net
Management contracts		$	257,910	$	271,612
Customer relationships		53,927		40,115
Purchased technology(B)		48,279		70,777
Trademarks / Trade names(C)		4,826		5,416
		$	364,942	$	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 six months ended June 30, 2024.

The following table summarizes the expected future amortization expense for acquired intangible assets as of June 30, 2024:

Year Ending	Amortization Expense
July 1 through December 31, 2024	$	36,216
2025	49,622
2026	40,778
2027	35,834
2028	35,289
2029 and thereafter	143,962
	$	341,701