Company: RITM-PC
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001556593-25-000033
Chunk: 204

Company: Rithm Capital Corp.
Filing Date: 2025-10-31
Form: 10-Q
Item: Item 1
Chunk 204
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 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. 

81 

RITHM CAPITAL CORP. AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)(dollars in tables in thousands, except share and per share data)

25. INCOME TAXES

Income tax expense (benefit) consists of the following: Three Months Ended September 30,Nine Months Ended September 30,2025202420252024Current:Federal$1,245 $(310)$8,512 $1,440 State and local353 (412)721 2,115 Foreign2,591 2,327 14,576 6,030 Total current income tax expense4,189 1,605 23,809 9,585 Deferred:Federal2,901 (72,709)(33,769)42,963 State and local1,082 (5,818)(15,657)14,117 Foreign(100)(1,511)(1,839)(38)Total deferred income tax expense (benefit)3,883 (80,038)(51,265)57,042 Total Income Tax Expense (Benefit)$8,072 $(78,433)$(27,456)$66,627 Rithm Capital intends to qualify as a REIT for each of its tax years through December 31, 2025. A REIT is generally not subject to U.S. federal corporate income tax on that portion of its income that is distributed to stockholders if it distributes at least 90% of its REIT taxable income to its stockholders by prescribed dates and complies with various other requirements. Rithm Capital operates various business segments, including Origination and Servicing, Asset Management and portions of the Investment Portfolio, through TRSs that are subject to regular corporate income taxes, which have been provided for in the provision for income taxes, as applicable. As of September 30, 2025, Rithm Capital recorded a net deferred tax liability of $736.9 million, primarily composed of deferred tax liabilities generated through the deferral of gains from residential mortgage loans sold by the orig