Company: RITM-PC
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0001556593-25-000007
Chunk: 265

Company: Rithm Capital Corp.
Filing Date: 2025-02-18
Form: 10-K
Item: Item 8
Chunk 265
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137

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

receivable, mortgage servicing rights, other assets and other liabilities. The final acquisition accounting adjustments, including those resulting from conforming Computershare’s accounting policies to those of Rithm Capital’s, could differ materially. Rithm Capital has not disclosed the amount of revenue and net income attributable to Computershare for the year ended December 31, 2024, because it is impracticable to do so. As of the beginning of the third quarter in 2024, Computershare’s operations and financial information have been integrated within the Company’s systems, making it infeasible to separately identify and report the specific revenue and net income figures for Computershare. Acquisition related costs are expensed in the period incurred. Rithm Capital recognized $17.8 million of Computershare Acquisition related costs that were expensed for the year ended December 31, 2024. These costs are grouped and presented within compensation and benefits and general and administrative in the consolidated statements of operations.Intangible assets acquired consist of customer relationships. Rithm Capital amortizes finite-lived customer relationships on a straight-line basis over their respective useful lives. The weighted average life of the total acquired identifiable intangible assets is 4.5 years. The following table presents the details of identifiable intangible assets acquired: Estimated Useful LifeAmountCustomer Relationships4.5$16,000 Total Identifiable Intangible Assets$16,000 Measurement Period AdjustmentsThe following table summarizes the provisional amounts recognized related to the Computershare Acquisition as of the acquisition date, as well as the measurement period adjustments made in the fourth quarter of 2024 to arrive at the revised preliminary allocation of the total consideration paid to acquire the assets and assume the liabilities:Preliminary Amounts as of the Acquisition DateSubsequent Adjustments to Fair Value(A)Revised Preliminary Amounts as of the Acquisition DateTotal Consideration$708,026 $22,999 $731,025 Assets:Residential mortgage loans, held-for-sale2,402 — 2,402 Servicer advances receivable275,782 (269)275,513 Mortgage servicing rights, at fair value696,462 3,745 700,207 Cash and cash equivalents102,011 (18)101,993 Restricted cash2,237