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EQUITY AND EARNINGS PER SHARE (Tables)
 3 Months Ended
Mar. 31, 2025
Earnings Per Share [Abstract]  
Schedule of Preferred Shares
The table below summarizes the Company’s outstanding preferred shares:
Number of Shares
Liquidation Preference(A)
Dividends Declared per Share
March 31,
2025		December 31,
2024		March 31,
2025		December 31,
2024		Issuance Discount
Carrying Value(C)
Three Months Ended March 31,
Series(B)
20252024
Series A, issued July 2019(D)(F)(H)
4,200,068 6,200,068 $105,002 $155,002 3.15 %$99,822 $0.64 $0.47 
Series B, issued August 2019(D)(F)
11,260,712 11,260,712 281,518 281,518 3.15 %272,654 0.63 0.45 
Series C, issued February 2020(D)(G)
15,903,342 15,903,342 397,584 397,584 3.15 %385,289 0.59 0.40 
Series D, 7.00% issued September 2021(E)
18,600,000 18,600,000 465,000 465,000 3.15 %449,489 0.44 0.44 
Total49,964,122 51,964,122 $1,249,104 $1,299,104 $1,207,254 $2.30 $1.76 
(A)Each series has a liquidation preference or par value of $25.00 per share.
(B)Under certain circumstances upon a change of control, our Series A, Series B, Series C and Series D are convertible to shares of our common stock.
(C)Carrying value reflects par value less discount and issuance costs.
(D)Fixed-to-floating rate cumulative redeemable preferred.
(E)Fixed-rate reset cumulative redeemable preferred.
(F)Effective August 15, 2024, dividends on the Series A and Series B accumulate at a floating rate. For the first quarter 2025 dividends, the Series A accrued dividends at a percentage of the $25.00 liquidation preference per share of the Series A equal to a three-month Chicago Mercantile Exchange (“CME”) SOFR, plus a spread adjustment of 0.261%, plus a spread of 5.802% and dividends on the Series B accumulated at a percentage of the $25.00 liquidation preference per share of the Series B preferred shares equal to a three-month CME SOFR, plus a spread adjustment of 0.261%, plus a spread of 5.640%.
(G)Effective February 15, 2025, dividends on the Series C accumulate at a floating rate. For the first quarter 2025 dividends, the Series C accrued dividends at a percentage of the $25.00 liquidation preference per share of the Series C equal to a three-month CME SOFR, plus a spread adjustment of 0.261%, plus a spread of 4.969%.
(H)The Company redeemed 2.0 million shares on the redemption date of March 28, 2025.
Schedule of Dividends Declared
Common dividends have been declared as follows:
Per Share
Declaration DatePayment DateQuarterly DividendTotal Amounts Distributed (millions)
March 20, 2024April 2024$0.25 $120.9 
June 18, 2024July 20240.25 122.4 
September 20, 2024November 20240.25 129.9 
December 16, 2024January 20250.25 130.2 
March 21, 2025April 20250.25 132.5 
Schedule of Basic and Diluted Earnings Per Share
The following table summarizes the basic and diluted EPS calculations:
Three Months Ended March 31,
20252024
Net Income$80,710 $287,487 
Noncontrolling interests in income of consolidated subsidiaries
1,086 3,452 
Redeemable noncontrolling interests in income of consolidated subsidiaries813 — 
Net Income Attributable to Rithm Capital Corp.78,811 284,035 
Change in redemption value of redeemable noncontrolling interests15,611 — 
Dividends on preferred stock26,677 22,395 
Net Income Attributable to Common Stockholders$36,523 $261,640 
Basic weighted average shares of common stock outstanding524,104,842483,336,777
Effect of Dilutive Securities(A)(B):
Stock options149897,800
Restricted stock170,438274,754
Time-based RSU awards2,842,044816,310
Performance-based RSU awards2,050,152605,860
Time vesting Class B Profit Units472,973—
Performance vesting Class B Profit Units958,957—
Diluted Weighted Average Shares of Common Stock Outstanding530,599,555485,931,501
Basic Earnings per Share Attributable to Common Stockholders$0.07 $0.54 
Diluted Earnings per Share Attributable to Common Stockholders$0.07 $0.54 
(A)Certain stock options that could potentially dilute basic EPS in the future were not included in the computation of diluted EPS 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.
(B)Awards related to stock-based compensation were included to the extent dilutive and issuable under the relevant time and/or performance measures.