Company: RITM-PC
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0001556593-25-000007
Chunk: 307

Company: Rithm Capital Corp.
Filing Date: 2025-02-18
Form: 10-K
Item: Item 8
Chunk 307
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ization expense for intangible assets as of December 31, 2024:Year EndingAmortization Expense2025$49,694 202640,871 202736,722 202836,289 202935,898 2030 and thereafter109,234 $308,708 

16. LEASES

Rithm Capital, through its wholly-owned subsidiaries, has leases on office space expiring through 2033. Rent expense, net of sublease income for the years ended December 31, 2024, 2023 and 2022 totaled $35.4 million, $45.8 million and $45.2 million, 

164

RITHM CAPITAL CORP. AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS(dollars in tables in thousands, except share data)

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 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 December 31, 2024, the Company has pledged collateral related to its lease obligations of $7.2 million, which is presented as part of restricted cash on the consolidated balance sheets. Operating lease ROU assets and lease liabilities are presented as part of other assets and accrued expenses and other liabilities, respectively, on the consolidated balance sheets (Note 12).The table below summarizes the future commitments under the non-cancelable leases:Year EndingOperating LeasesFinance LeasesTotal2025$43,449 $228 $43,677 202636,578 228 36,806 202737,682 228 37,910 202827,978 — 27,978 202926,323 — 26,323 2030 and thereafter14,967 — 14,967 Total remaining undiscounted lease payments186,977 684 187,661 Less: imputed interest27,172 52 27,224 Total Remaining Discounted Lease Payments$159,805 $632 $160,437 The future commitments under the non-cancelable leases have not been reduced by the sublease rentals of $33.7 million due in the future periods.Other information related to leases