Company: RITM-PC
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001556593-25-000033
Chunk: 284

Company: Rithm Capital Corp.
Filing Date: 2025-10-31
Form: 10-Q
Item: Item 8
Chunk 284
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331,949 (A)Includes indefinite-lived intangible assets of $1.9 million as of September 30, 2025 and December 31, 2024.The Company did not record any impairment loss on its intangible assets for the three and nine months ended September 30, 2025 and 2024.The following table summarizes the amortization expense recorded by the Company related to its intangible assets. Amortization expense related to intangible assets is included in general and administrative in the consolidated statements of operations.Three Months Ended September 30,Nine Months Ended September 30,2025202420252024Amortization expense$11,997 $24,582 $38,152 $66,961 The following table summarizes the expected future amortization expense for intangible assets as of September 30, 2025:Year EndingAmortization ExpenseOctober 1 through December 31, 2025$11,777 202641,791 202737,685 202836,956 202935,898 203029,653 2031 and thereafter79,580 $273,340 

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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 September 30, 2025 and 2024 totaled $7.4 million and $8.7 million, respectively, and $22.1 million and $27.1 million for the nine months ended September 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 September 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