Company: RITM-PC
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001556593-25-000016
Chunk: 228

Company: Rithm Capital Corp.
Filing Date: 2025-05-02
Form: 10-Q
Item: Item 1
Chunk 228
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 segment:Origination and ServicingResidential Transitional LendingAsset ManagementTotalBalance at December 31, 202429,468 55,731 48,633 133,832 Impairment loss— — — — Balance at March 31, 2025$29,468 $55,731 $48,633 $133,832 The following table summarizes the acquired identifiable intangible assets:Estimated Useful Lives (Years)March 31, 2025December 31, 2024Gross Intangible Assets:Management contracts10$275,000 $275,000 Customer relationships2 to 979,753 79,753 Purchased technology3 to 7109,539 105,567 Trademarks / Trade names(A)1 to 510,259 10,259 LicensesIndefinite21,365 21,365 495,916 491,944 Accumulated Amortization:Management contracts37,716 30,940 Customer relationships32,318 25,773 Purchased technology100,671 97,259 Trademarks / Trade names6,318 6,023 177,023 159,995 Intangible Assets, Net:Management contracts237,284 244,060 Customer relationships47,435 53,980 Purchased technology8,868 8,308 Trademarks / Trade names(A)3,941 4,236 Licenses21,365 21,365 $318,893 $331,949 (A)Includes indefinite-lived intangible assets of $1.9 million as of March 31, 2025 and December 31, 2024.The Company did not record any impairment loss on its intangible assets for the three months ended March 31, 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 March 31,20252024Amortization expense$13,056 $18,953 

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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 summarizes the expected future amortization expense for int