Company: RITM-PC
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001556593-25-000024
Chunk: 190

Company: Rithm Capital Corp.
Filing Date: 2025-08-01
Form: 10-Q
Item: Item 1
Chunk 190
---
 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:June 30, 2025December 31, 2024Unearned management fees$4 $12 Unearned incentive income14,231 17,268 Total Unearned Income and Fees$14,235 $17,280 

A liability for unearned incentive income is generally recognized when the Company 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 the Company on a quarterly basis in advance, based on the amount of AUM at the beginning of the quarter. 

23. NONCONTROLLING INTERESTS

Noncontrolling interests represent the ownership interests in certain consolidated subsidiaries held by entities or persons other than Rithm Capital, and it is presented as a separate component of equity on the Company’s consolidated balance sheets. These interests are related to noncontrolling interests in consolidated entities that hold servicer advance investments (Note 14), the Newrez Joint Ventures, consumer loans (Note 8), asset management investments, Excess MSRs and other investments.Others’ interests in the equity of consolidated subsidiaries is computed as follows:June 30, 2025December 31, 2024Total Consolidated EquityOthers' Ownership InterestNoncontrolling Interest in Equity of Consolidated SubsidiariesTotal Consolidated EquityOthers' Ownership InterestNoncontrolling Interest in Equity of Consolidated SubsidiariesAdvance Purchaser$86,594 10.7 %$9,259 $91,384 10.7 %$9,770 Newrez Joint Ventures19,077 49.5 %9,443 19,621 49.5 %9,687 Excess MSRs128,280 20.0 %25,656 136,645 20.0 %27,329 Other investments96,426 24.6 %23,715 50,778 10.0