Company: RITM-PC
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001556593-25-000016
Chunk: 104

Company: Rithm Capital Corp.
Filing Date: 2025-05-02
Form: 10-Q
Item: Item 8
Chunk 104
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 the consolidated SPAC are redeemable for cash by the public shareholders at the time of a business combination or in the event the SPAC is unable to complete a business combination by a set date. Since the redemption of the Class A ordinary shares is outside the Company’s control, they are not classified as permanent equity and are recognized as redeemable noncontrolling interests in consolidated subsidiaries in the consolidated balance sheets. Additionally, in the first quarter of 2025, certain interest held by a third-party in a consolidated entity is classified within redeemable noncontrolling interests due to a redemption feature.

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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)

The following table presents the activity in redeemable noncontrolling interests:SPACConsolidated EntityTotalBalance at December 31, 2024$— $— $— Initial carrying value214,389 25,601 239,990 Change in redemption value15,611 — 15,611 Comprehensive income (loss)810 3 813 Balance at March 31, 2025$230,810 $25,604 $256,414 

21. EXPENSES, REALIZED AND UNREALIZED GAINS (LOSSES), NET AND OTHER

Other revenues consists of the following:Three Months Ended March 31,20252024Property and maintenance$25,736 $32,380 Rental19,402 18,949 Other5,635 7,019 Total Other Revenues$50,773 $58,348 General and Administrative expenses consists of the following:Three Months Ended March 31,20252024Legal and professional$24,638 $21,489 Loan origination14,677 15,435 Occupancy14,490 15,946 Subservicing16,756 19,428 Loan servicing41,400 5,591 Property and maintenance27,583 32,264 Depreciation and amortization24,568 31,952 Information technology29,691 29,388 Other43,743 33,559 Total General and Administrative Expenses$237,546 $205,052 

69

RITHM CAPITAL CORP. AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL