Rithm Capital Corp.
For the period ended Mar 31, 2025. Filed May 2, 2025.
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Mar 31, 2025 · Filed May 2, 2025
Contents
Consolidated Balance Sheets
RITHM CAPITAL CORP. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(dollars in thousands, except share data)
| March 31, 2025(Unaudited) | December 31, 2024 | |
|---|---|---|
| Assets | ||
| Mortgage servicing rights and mortgage servicing rights financing receivables, at fair value | $10,133,041 | $10,321,671 |
| Government and government-backed securities (includes $11,023,935 and $9,711,346 at fair value, respectively) | 11,048,701 | 9,736,116 |
| Residential mortgage loans, held-for-sale (includes $3,092,102 and $4,307,571 at fair value, respectively)(A) | 3,156,350 | 4,374,241 |
| Residential mortgage loans, held-for-investment, at fair value | 354,003 | 361,890 |
| Consumer loans held-for-investment, at fair value(A) | 554,168 | 665,565 |
| Residential transition loans, at fair value | 2,335,218 | 2,178,075 |
| Residential mortgage loans subject to repurchase | 2,432,605 | 2,745,756 |
| Single-family rental properties | 1,011,986 | 1,028,295 |
| Cash and cash equivalents(A) | 1,493,834 | 1,458,743 |
| Restricted cash(A) | 511,698 | 308,443 |
| Servicer advances receivable | 2,874,515 | 3,198,921 |
| Other assets (includes $2,422,538 and $2,311,979 at fair value, respectively)(A) | 4,450,923 | 4,563,415 |
| Assets of Consolidated CFEs(A): | ||
| Investments, at fair value and other assets | 4,972,801 | 5,107,826 |
| Total Assets | $45,329,843 | $46,048,957 |
| Liabilities and Equity | ||
| Liabilities | ||
| Secured financing agreements(A) | $16,791,234 | $16,782,467 |
| Secured notes and bonds payable (includes $169,035 and $185,460 at fair value, respectively)(A) | 10,025,948 | 10,298,075 |
| Residential mortgage loan repurchase liability | 2,432,605 | 2,745,756 |
| Unsecured notes, net of issuance costs | 1,207,594 | 1,204,220 |
| Dividends payable | 157,405 | 153,114 |
| Accrued expenses and other liabilities (includes $538,985 and $525,486 at fair value, respectively)(A) | 2,343,010 | 2,630,771 |
| Liabilities of Consolidated CFEs(A): | ||
| Notes payable, at fair value and other liabilities | 4,230,793 | 4,348,244 |
| Total Liabilities | 37,188,589 | 38,162,647 |
| Commitments and Contingencies (Note 25) | ||
| Redeemable Noncontrolling Interests of Consolidated Subsidiaries (Note 20) | 256,414 | — |
| Stockholders’ Equity | ||
| Preferred stock, $0.01 par value, 100,000,000 shares authorized, 49,964,122 and 51,964,122 issued and outstanding, $1,249,104 and $1,299,104 aggregate liquidation preference, respectively | 1,207,254 | 1,257,254 |
| Common stock, $0.01 par value, 2,000,000,000 shares authorized, 530,122,477 and 520,656,256 issued and outstanding, respectively | 5,301 | 5,206 |
| Additional paid-in capital | 6,635,226 | 6,528,613 |
| Accumulated deficit | (129,934) | (46,985) |
| Accumulated other comprehensive income | 58,277 | 50,886 |
| Stockholders’ Equity in Rithm Capital Corp. | 7,776,124 | 7,794,974 |
| Noncontrolling interests in equity of consolidated subsidiaries | 108,716 | 91,336 |
| Total Stockholders’ Equity | 7,884,840 | 7,886,310 |
| Total Liabilities and Equity | $45,329,843 | $46,048,957 |
(A)The Company's consolidated balance sheets include assets and liabilities of consolidated variable interest entities (“VIEs”) and certain other consolidated VIEs classified as collateralized financing entities (“CFEs”) that are presented separately and measured under the CFE election. VIE assets can only be used to settle obligations and liabilities of the VIEs. VIE creditors do not have recourse to Rithm Capital Corp. As of March 31, 2025 and December 31, 2024, total assets of such consolidated VIEs were $6.4 billion and $6.3 billion, respectively, and total liabilities of such consolidated VIEs were $5.0 billion and $5.2 billion, respectively. See Note 20 for further details.
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