Company: RITM-PC
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001556593-25-000033
Chunk: 120

Company: Rithm Capital Corp.
Filing Date: 2025-10-31
Form: 10-Q
Item: Item 1
Chunk 120
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422 25,773 Purchased technology104,905 97,259 Trademarks / Trade names6,908 6,023 201,727 159,995 Intangible Assets, Net:Management contracts223,508 244,060 Customer relationships41,331 53,980 Purchased technology7,026 8,308 Trademarks / Trade names(A)3,351 4,236 Licenses21,365 21,365 $296,581 $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