Company: RITM-PC
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001556593-25-000024
Chunk: 263

Company: Rithm Capital Corp.
Filing Date: 2025-08-01
Form: 10-Q
Item: Item 8
Chunk 263
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 general and administrative in the consolidated statements of operations.Three Months Ended June 30,Six Months Ended June 30,2025202420252024Amortization expense$12,707 $22,462 $26,155 $42,380 The following table summarizes the expected future amortization expense for intangible assets as of June 30, 2025:Year EndingAmortization ExpenseJuly 1 through December 31, 2025$23,596 202641,274 202737,053 202836,386 202935,898 203029,654 2031 and thereafter79,580 $283,441 

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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)

16. LEASES

Rithm Capital, through its wholly-owned subsidiaries, has non-cancelable operating leases on office space and data centers expiring through 2035. Rent expense, net of sublease income for the three months ended June 30, 2025 and 2024 totaled $7.5 million and $13.2 million, respectively, and $14.7 million and $25.7 million for the six months ended June 30, 2025 and 2024, respectively. The Company has leases that include renewal options and escalation clauses. The terms of the leases do not impose any financial restrictions or covenants.Operating lease right-of-use (“ROU”) assets represent the right to use an underlying asset for the lease term and lease liabilities represent obligations to make lease payments arising from the lease. In addition, the Company has finance leases for computer hardware. As of June 30, 2025, the Company has pledged collateral related to its lease obligations of $7.4 million, which is presented as part of restricted cash on the consolidated balance sheets. Operating lease ROU assets and lease liabilities are presented as part of other assets and accrued expenses and other liabilities, respectively, on the consolidated balance sheets (Note 12).The table below summarizes the future commitments under the non-cancelable leases:Year EndingOperating LeasesFinance LeasesTotalJuly 1 through December 31, 2025$22,973 $— $22,973 202639,438 228 39,666 202740,459 228 40,687 202829