Company: RITM-PC
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001556593-25-000016
Chunk: 110

Company: Rithm Capital Corp.
Filing Date: 2025-05-02
Form: 10-Q
Item: Item 8
Chunk 110
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 shares of common stock outstanding524,104,842483,336,777Effect of Dilutive Securities(A)(B):Stock options149897,800Restricted stock170,438274,754Time-based RSU awards2,842,044816,310Performance-based RSU awards2,050,152605,860Time vesting Class B Profit Units472,973—Performance vesting Class B Profit Units958,957—Diluted Weighted Average Shares of Common Stock Outstanding530,599,555485,931,501Basic 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. 

24. INCOME TAXES

Income tax expense (benefit) consists of the following: Three Months Ended March 31,20252024Current:Federal$6,555 $613 State and local197 396 Foreign10,613 1,775 Total current income tax expense17,365 2,784 Deferred:Federal(30,358)76,453 State and local(9,296)13,237 Foreign(1,641)938 Total deferred income tax expense (benefit)(41,295)90,628 Total Income Tax Expense (Benefit)$(23,930)$93,412 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. Refer to Note