Company: RITM-PC
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001556593-25-000016
Chunk: 295

Company: Rithm Capital Corp.
Filing Date: 2025-05-02
Form: 10-Q
Item: Item 1
Chunk 295
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Other income (loss), net9,073 15,784 Total Other Income (Loss), Net$216,468 $(29,062)(A)Includes change in the fair value of the consolidated CFEs’ financial assets and liabilities and related interest and other income.(B)Includes Excess MSRs, servicer advance investments, consumer loans, residential transition loans and other.

22. ASSET MANAGEMENT REVENUES

The following table presents the composition of asset management revenues:Three Months Ended March 31,20252024Management fees$58,986 $57,130 Incentive income28,686 13,821 Total Asset Management Revenues$87,672 $70,951 The following table presents the composition of the Company’s income and fees receivable primarily through Sculptor:March 31, 2025December 31, 2024Management fees receivable$33,569 $25,337 Incentive income receivable30,895 183,335 Total Income and Fees Receivable$64,464 $208,672 The Company recognizes management fees over the period in which the performance obligation is satisfied, and such management fees are generally recognized at the end of each reporting period. The Company records incentive income when it is probable that a significant reversal of income will not occur. The majority of management fees and incentive income receivable at each balance sheet date is generally collected during the following quarter.The following table presents the Company’s unearned income and fees primarily through Sculptor:March 31, 2025December 31, 2024Unearned management fees$852 $12 Unearned incentive income14,477 17,268 Total Unearned Income and Fees$15,329 $17,280 

A liability for unearned incentive income is generally recognized when Sculptor receives incentive income distributions from its funds, primarily its real estate funds, whereby the distributions received have not yet met the recognition threshold of it being probable that a significant reversal of cumulative revenue will not occur. A liability for unearned management fees is generally recognized when management fees are paid to Sculptor on a quarterly basis in advance, based on the amount of AUM at the beginning of the quarter. 

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

23. EQU