Rithm Capital Corp.RITM
Rithm Capital Corp. Segments Disclosure
SEGMENT REPORTING
(A)The Company's consolidated balance sheets include assets and liabilities of consolidated VIEs, including funds and CFEs that are presented separately within assets and liabilities of consolidated entities. VIE assets can only be used to settle obligations and liabilities of the VIEs. VIE creditors do not have recourse to Rithm Capital Corp.
Rithm Capital conducts its business and generates substantially all of its revenues primarily in the U.S. through operating segments that have been aggregated into the following reportable segments: (i) Origination and Servicing, (ii) Residential Transitional Lending, (iii) Asset Management and (iv) Investment Portfolio. Activities that are not directly attributable or not allocated to any of the reportable segments are reported under Corporate as a reconciling item to the Company’s consolidated financial statements. The activities within Corporate primarily consist of general and administrative expenses, corporate cash and related interest income, the Senior Unsecured Notes (as defined in Note 17) and related interest expense, and restricted cash and redeemable non-controlling interest related to Class A ordinary shares of the Company’s consolidated SPAC.
Effective in the first quarter of 2025, new purchases of government and government-backed securities are reflected within the Investment Portfolio or the Origination and Servicing segment based on the nature of the business activity and performance assessment.
The structure of the reportable segments is differentiated by the nature of the Company’s business activities, which is consistent with the reporting structure of the Company’s internal organization, as well as by the financial information used by the Company’s chief operating decision maker (“CODM”) to make decisions regarding the Company’s business, including resource allocation and performance assessment. The Company’s CODM is the Chief Executive Officer.
The Origination and Servicing segment generates revenue through servicing fee revenue, interest income and gain on originated and sold residential mortgage loans. The Residential Transitional Lending segment generates revenue through interest income related to the origination and management of a portfolio of short-term mortgage loans to fund the construction and development of, or investment in, residential properties. The Asset Management segment generates revenue primarily through management and incentive fees based primarily on AUM and performance of funds and accounts managed by the Company, as well as through real estate-related fee income and rental revenue from commercial real estate properties owned and managed by the Company. The Investment Portfolio segment generates revenue from certain real estate securities, SFR properties, residential mortgage loans, consumer loans and certain ancillary and equity method investments primarily in the form of interest income and other investment portfolio revenues.
Income before income taxes is the measure of segment profit and loss that is determined in accordance with the measurement principles used in measuring the corresponding amounts in the consolidated financial statements and used by the CODM to evaluate segment results. It is also one of the factors considered in determining capital allocation among the segments, assessing performance for each segment and determining compensation for certain employees.
The following tables summarize segment financial information, including the Corporate category explained above, which in total reconciles to the same data for Rithm Capital on a consolidated basis:
| Origination and Servicing | Residential Transitional Lending | Asset Management | Investment Portfolio | Corporate Category | Total | |||||||||||||||||||||||||||||||||
| Year Ended December 31, 2025 | ||||||||||||||||||||||||||||||||||||||
| Servicing fee revenue, net and interest income from MSRs and MSR financing receivables | $ | 2,294,969 | $ | — | $ | — | $ | — | $ | — | $ | 2,294,969 | ||||||||||||||||||||||||||
Change in fair value of MSRs and MSR financing receivables, net of economic hedges (includes realization of cash flows of $(746,006)) | (1,174,549) | — | — | — | — | (1,174,549) | ||||||||||||||||||||||||||||||||
| Servicing revenue, net | 1,120,420 | — | — | — | — | 1,120,420 | ||||||||||||||||||||||||||||||||
| Interest income | 1,217,454 | 301,594 | 44,662 | 300,109 | 10,496 | 1,874,315 | ||||||||||||||||||||||||||||||||
| Gain on originated residential mortgage loans, held-for-sale, net | 690,401 | — | — | 39,125 | — | 729,526 | ||||||||||||||||||||||||||||||||
| Other revenues | 106,679 | — | 26,933 | 105,315 | — | 238,927 | ||||||||||||||||||||||||||||||||
| Asset management revenues | — | — | 627,040 | — | — | 627,040 | ||||||||||||||||||||||||||||||||
| Total Revenues | 3,134,954 | 301,594 | 698,635 | 444,549 | 10,496 | 4,590,228 | ||||||||||||||||||||||||||||||||
| Interest expense and warehouse line fees | 1,085,148 | 137,066 | 47,858 | 296,234 | 96,127 | 1,662,433 | ||||||||||||||||||||||||||||||||
Other segment expenses(A) | 592,233 | 24,250 | 146,343 | 91,063 | 50,198 | 904,087 | ||||||||||||||||||||||||||||||||
| Compensation and benefits | 774,509 | 63,087 | 399,879 | 3,993 | 77,411 | 1,318,879 | ||||||||||||||||||||||||||||||||
| Depreciation and amortization | 26,453 | 7,731 | 41,103 | 32,159 | 31 | 107,477 | ||||||||||||||||||||||||||||||||
| Total Operating Expenses | 2,478,343 | 232,134 | 635,183 | 423,449 | 223,767 | 3,992,876 | ||||||||||||||||||||||||||||||||
| Realized and unrealized gains (losses), net | — | 18,826 | 4,347 | 103,355 | (661) | 125,867 | ||||||||||||||||||||||||||||||||
| Other income (loss), net | 5,088 | (558) | 33,206 | 46,623 | (1,195) | 83,164 | ||||||||||||||||||||||||||||||||
| Total Other Income (Loss) | 5,088 | 18,268 | 37,553 | 149,978 | (1,856) | 209,031 | ||||||||||||||||||||||||||||||||
| Income (Loss) before Income Taxes | 661,699 | 87,728 | 101,005 | 171,078 | (215,127) | 806,383 | ||||||||||||||||||||||||||||||||
| Income tax expense (benefit) | 33,527 | (1,446) | 69,407 | (14,284) | 1,087 | 88,291 | ||||||||||||||||||||||||||||||||
| Net Income (Loss) | 628,172 | 89,174 | 31,598 | 185,362 | (216,214) | 718,092 | ||||||||||||||||||||||||||||||||
| Non-controlling interests in income of consolidated subsidiaries | 3,227 | — | 709 | 4,884 | — | 8,820 | ||||||||||||||||||||||||||||||||
| Redeemable non-controlling interests in income of consolidated subsidiaries | — | — | 3,780 | — | 8,435 | 12,215 | ||||||||||||||||||||||||||||||||
| Net Income (Loss) Attributable to Rithm Capital Corp. | 624,945 | 89,174 | 27,109 | 180,478 | (224,649) | 697,057 | ||||||||||||||||||||||||||||||||
| Change in redemption value of redeemable non-controlling interests | — | — | — | — | 15,611 | 15,611 | ||||||||||||||||||||||||||||||||
| Dividends on preferred stock | — | — | — | — | 114,246 | 114,246 | ||||||||||||||||||||||||||||||||
| Net Income (Loss) Attributable to Common Stockholders | $ | 624,945 | $ | 89,174 | $ | 27,109 | $ | 180,478 | $ | (354,506) | $ | 567,200 | ||||||||||||||||||||||||||
(A)The Origination and Servicing segment’s other segment expenses primarily include expenses related to legal and professional services, loan origination and servicing, information technology and property and maintenance. The Residential Transitional Lending segment’s other segment expenses primarily include expenses related to legal and professional services and loan origination. The Asset Management segment’s other segment expenses primarily include expenses related to legal and professional services, information technology, occupancy and property and maintenance. The Investment Portfolio segment’s other segment expenses primarily include expenses related to legal and professional services, loan servicing and property and maintenance.
| Origination and Servicing | Residential Transitional Lending | Asset Management | Investment Portfolio | Corporate Category | Total | |||||||||||||||||||||||||||||||||
| December 31, 2025 | ||||||||||||||||||||||||||||||||||||||
Investments(A) | $ | 18,308,310 | $ | 2,706,044 | $ | 6,062,702 | $ | 4,912,402 | $ | — | $ | 31,989,458 | ||||||||||||||||||||||||||
Cash and cash equivalents(A) | 1,153,897 | 97,049 | 353,290 | 32,853 | 210,537 | 1,847,626 | ||||||||||||||||||||||||||||||||
Restricted cash(A) | 174,667 | 43,156 | 308,584 | 44,470 | 238,435 | 809,312 | ||||||||||||||||||||||||||||||||
Other assets(A) | 7,793,601 | 174,406 | 1,918,829 | 2,414,231 | 9,671 | 12,310,738 | ||||||||||||||||||||||||||||||||
| Goodwill | 29,468 | 55,731 | 231,444 | — | — | 316,643 | ||||||||||||||||||||||||||||||||
Assets of consolidated entities(A) | — | 980,760 | 1,525,364 | 3,283,225 | — | 5,789,349 | ||||||||||||||||||||||||||||||||
| Total Assets | $ | 27,459,943 | $ | 4,057,146 | $ | 10,400,213 | $ | 10,687,181 | $ | 458,643 | $ | 53,063,126 | ||||||||||||||||||||||||||
Debt(A) | $ | 16,843,333 | $ | 2,219,808 | $ | 4,377,897 | $ | 5,689,351 | $ | 1,258,271 | $ | 30,388,660 | ||||||||||||||||||||||||||
Other liabilities(A) | 5,040,177 | 87,637 | 2,583,469 | 435,514 | 294,747 | 8,441,544 | ||||||||||||||||||||||||||||||||
Liabilities of consolidated entities(A) | — | 868,217 | 1,270,655 | 2,839,340 | — | 4,978,212 | ||||||||||||||||||||||||||||||||
| Total Liabilities | 21,883,510 | 3,175,662 | 8,232,021 | 8,964,205 | 1,553,018 | 43,808,416 | ||||||||||||||||||||||||||||||||
| Redeemable Non-controlling Interests of Consolidated Subsidiaries | — | — | 75,868 | — | 238,435 | 314,303 | ||||||||||||||||||||||||||||||||
| Total Stockholders’ Equity | 5,576,433 | 881,484 | 2,092,324 | 1,722,976 | (1,332,810) | 8,940,407 | ||||||||||||||||||||||||||||||||
| Non-controlling interests in equity of consolidated subsidiaries | 9,833 | — | 441,850 | 58,237 | — | 509,920 | ||||||||||||||||||||||||||||||||
| Stockholders’ Equity in Rithm Capital Corp. | $ | 5,566,600 | $ | 881,484 | $ | 1,650,474 | $ | 1,664,739 | $ | (1,332,810) | $ | 8,430,487 | ||||||||||||||||||||||||||
| Investments in Equity Method Investees | $ | 25,111 | $ | 27,708 | $ | 445,871 | $ | 324,456 | $ | — | $ | 823,146 | ||||||||||||||||||||||||||
(A)The Company's consolidated balance sheets include assets and liabilities of consolidated VIEs, including funds and CFEs that are presented separately within assets and liabilities of consolidated entities. VIE assets can only be used to settle obligations and liabilities of the VIEs. VIE creditors do not have recourse to Rithm Capital Corp.
| Origination and Servicing | Residential Transitional Lending | Asset Management | Investment Portfolio | Corporate Category | Total | |||||||||||||||||||||||||||||||||
| Year Ended December 31, 2024 | ||||||||||||||||||||||||||||||||||||||
| Servicing fee revenue, net and interest income from MSRs and MSR financing receivables | $ | 1,993,319 | $ | — | $ | — | $ | — | $ | — | $ | 1,993,319 | ||||||||||||||||||||||||||
Change in fair value of MSRs and MSR financing receivables, net of economic hedges (includes realization of cash flows of $(602,241)) | (455,918) | — | — | — | — | (455,918) | ||||||||||||||||||||||||||||||||
| Servicing revenue, net | 1,537,401 | — | — | — | — | 1,537,401 | ||||||||||||||||||||||||||||||||
| Interest income | 1,351,066 | 257,833 | 21,288 | 319,596 | 7 | 1,949,790 | ||||||||||||||||||||||||||||||||
| Gain on originated residential mortgage loans, held-for-sale, net | 672,093 | — | — | 10,442 | — | 682,535 | ||||||||||||||||||||||||||||||||
| Other revenues | 121,291 | — | — | 106,181 | — | 227,472 | ||||||||||||||||||||||||||||||||
| Asset management revenues | — | — | 520,294 | — | — | 520,294 | ||||||||||||||||||||||||||||||||
| Total Revenues | 3,681,851 | 257,833 | 541,582 | 436,219 | 7 | 4,917,492 | ||||||||||||||||||||||||||||||||
| Interest expense and warehouse line fees | 1,327,115 | 125,722 | 36,274 | 271,908 | 74,306 | 1,835,325 | ||||||||||||||||||||||||||||||||
Other segment expenses(A) | 500,347 | 19,578 | 97,550 | 80,724 | 46,154 | 744,353 | ||||||||||||||||||||||||||||||||
| Compensation and benefits | 706,805 | 47,320 | 328,758 | 3,809 | 48,076 | 1,134,768 | ||||||||||||||||||||||||||||||||
| Depreciation and amortization | 56,496 | 6,268 | 30,598 | 30,748 | 21 | 124,131 | ||||||||||||||||||||||||||||||||
| Total Operating Expenses | 2,590,763 | 198,888 | 493,180 | 387,189 | 168,557 | 3,838,577 | ||||||||||||||||||||||||||||||||
| Realized and unrealized gains (losses), net | 22 | 54,020 | (74) | 18,671 | — | 72,639 | ||||||||||||||||||||||||||||||||
| Other income (loss), net | 21,677 | (1,603) | 15,100 | 22,032 | 49 | 57,255 | ||||||||||||||||||||||||||||||||
| Total Other Income | 21,699 | 52,417 | 15,026 | 40,703 | 49 | 129,894 | ||||||||||||||||||||||||||||||||
| Income (Loss) before Income Taxes | 1,112,787 | 111,362 | 63,428 | 89,733 | (168,501) | 1,208,809 | ||||||||||||||||||||||||||||||||
| Income tax expense | 219,086 | 5,224 | 36,058 | 6,949 | — | 267,317 | ||||||||||||||||||||||||||||||||
| Net Income (Loss) | 893,701 | 106,138 | 27,370 | 82,784 | (168,501) | 941,492 | ||||||||||||||||||||||||||||||||
| Non-controlling interests in income of consolidated subsidiaries | 2,554 | — | 4,302 | 3,133 | — | 9,989 | ||||||||||||||||||||||||||||||||
| Net Income (Loss) Attributable to Rithm Capital Corp. | 891,147 | 106,138 | 23,068 | 79,651 | (168,501) | 931,503 | ||||||||||||||||||||||||||||||||
| Dividends on preferred stock | — | — | — | — | 96,456 | 96,456 | ||||||||||||||||||||||||||||||||
| Net Income (Loss) Attributable to Common Stockholders | $ | 891,147 | $ | 106,138 | $ | 23,068 | $ | 79,651 | $ | (264,957) | $ | 835,047 | ||||||||||||||||||||||||||
(A)The Origination and Servicing segment’s other segment expenses primarily include expenses related to loan origination and servicing, information technology, occupancy and legal and professional. The Residential Transitional Lending segment’s other segment expenses primarily include expenses related to loan origination, occupancy and information technology. The Asset Management segment’s other segment expenses primarily include expenses related to legal and professional, information technology and occupancy. The Investment Portfolio segment’s other segment expenses primarily include expenses related to loan servicing and property and maintenance.
| Origination and Servicing | Residential Transitional Lending | Asset Management | Investment Portfolio | Corporate Category | Total | |||||||||||||||||||||||||||||||||
| December 31, 2024 | ||||||||||||||||||||||||||||||||||||||
Investments(A) | $ | 24,111,365 | $ | 2,194,413 | $ | — | $ | 2,387,973 | $ | — | $ | 28,693,751 | ||||||||||||||||||||||||||
Cash and cash equivalents(A) | 1,004,326 | 37,605 | 174,819 | 27,987 | 214,006 | 1,458,743 | ||||||||||||||||||||||||||||||||
Restricted cash(A) | 207,724 | 33,555 | 18,038 | 49,126 | — | 308,443 | ||||||||||||||||||||||||||||||||
Other assets(A) | 7,065,373 | 122,059 | 962,845 | 2,190,333 | 5,752 | 10,346,362 | ||||||||||||||||||||||||||||||||
| Goodwill | 29,468 | 55,731 | 48,633 | — | — | 133,832 | ||||||||||||||||||||||||||||||||
Assets of consolidated entities(A) | — | 995,712 | 1,303,795 | 2,808,319 | — | 5,107,826 | ||||||||||||||||||||||||||||||||
| Total Assets | $ | 32,418,256 | $ | 3,439,075 | $ | 2,508,130 | $ | 7,463,738 | $ | 219,758 | $ | 46,048,957 | ||||||||||||||||||||||||||
Debt(A) | $ | 21,968,357 | $ | 1,747,307 | $ | 431,806 | $ | 3,103,488 | $ | 1,033,804 | $ | 28,284,762 | ||||||||||||||||||||||||||
Other liabilities(A) | 4,725,155 | 29,999 | 104,879 | 433,762 | 235,846 | 5,529,641 | ||||||||||||||||||||||||||||||||
Liabilities of consolidated entities(A) | — | 860,123 | 1,126,776 | 2,361,345 | — | 4,348,244 | ||||||||||||||||||||||||||||||||
| Total Liabilities | 26,693,512 | 2,637,429 | 1,663,461 | 5,898,595 | 1,269,650 | 38,162,647 | ||||||||||||||||||||||||||||||||
| Total Stockholders’ Equity | 5,724,744 | 801,646 | 844,669 | 1,565,143 | (1,049,892) | 7,886,310 | ||||||||||||||||||||||||||||||||
| Non-controlling interests in equity of consolidated subsidiaries | 9,687 | — | 39,942 | 41,707 | — | 91,336 | ||||||||||||||||||||||||||||||||
| Stockholders’ Equity in Rithm Capital Corp. | $ | 5,715,057 | $ | 801,646 | $ | 804,727 | $ | 1,523,436 | $ | (1,049,892) | $ | 7,794,974 | ||||||||||||||||||||||||||
| Investments in Equity Method Investees | $ | 24,488 | $ | 13,352 | $ | 113,662 | $ | 291,637 | $ | — | $ | 443,139 | ||||||||||||||||||||||||||
(A)The Company's consolidated balance sheets include assets and liabilities of consolidated VIEs, including funds and CFEs that are presented separately within assets and liabilities of consolidated entities. VIE assets can only be used to settle obligations and liabilities of the VIEs. VIE creditors do not have recourse to Rithm Capital Corp.
| Origination and Servicing | Residential Transitional Lending | Asset Management | Investment Portfolio | Corporate Category | Total | |||||||||||||||||||||||||||||||||
| Year Ended December 31, 2023 | ||||||||||||||||||||||||||||||||||||||
| Servicing fee revenue, net and interest income from MSRs and MSR financing receivables | $ | 1,859,357 | $ | — | $ | — | $ | — | $ | — | $ | 1,859,357 | ||||||||||||||||||||||||||
Change in fair value of MSRs and MSR financing receivables, net of economic hedges (includes realization of cash flows of $(518,978)) | (595,246) | — | — | — | — | (595,246) | ||||||||||||||||||||||||||||||||
| Servicing revenue, net | 1,264,111 | — | — | — | — | 1,264,111 | ||||||||||||||||||||||||||||||||
| Interest income | 1,084,479 | 205,779 | 3,788 | 322,143 | — | 1,616,189 | ||||||||||||||||||||||||||||||||
| Gain on originated residential mortgage loans, held-for-sale, net | 494,693 | — | — | 38,784 | — | 533,477 | ||||||||||||||||||||||||||||||||
| Other revenues | 133,424 | — | — | 102,743 | — | 236,167 | ||||||||||||||||||||||||||||||||
| Asset management revenues | — | — | 82,681 | — | — | 82,681 | ||||||||||||||||||||||||||||||||
| Total Revenues | 2,976,707 | 205,779 | 86,469 | 463,670 | — | 3,732,625 | ||||||||||||||||||||||||||||||||
| Interest expense and warehouse line fees | 1,011,387 | 105,909 | 2,727 | 245,120 | 36,184 | 1,401,327 | ||||||||||||||||||||||||||||||||
Other segment expenses(A) | 513,453 | 12,529 | 16,801 | 59,698 | 77,940 | 680,421 | ||||||||||||||||||||||||||||||||
| Compensation and benefits | 655,819 | 43,547 | 42,839 | 8,681 | 36,206 | 787,092 | ||||||||||||||||||||||||||||||||
| Depreciation and amortization | 44,174 | 6,282 | 4,230 | 25,930 | 65 | 80,681 | ||||||||||||||||||||||||||||||||
| Total Operating Expenses | 2,224,833 | 168,267 | 66,597 | 339,429 | 150,395 | 2,949,521 | ||||||||||||||||||||||||||||||||
| Realized and unrealized gains, net | 273 | 1,500 | 8,060 | 273 | — | 10,106 | ||||||||||||||||||||||||||||||||
| Other income (loss), net | (20,125) | 6,209 | 557 | (657) | (26,361) | (40,377) | ||||||||||||||||||||||||||||||||
| Total Other Income (Loss) | (19,852) | 7,709 | 8,617 | (384) | (26,361) | (30,271) | ||||||||||||||||||||||||||||||||
| Income (Loss) before Income Taxes | 732,022 | 45,221 | 28,489 | 123,857 | (176,756) | 752,833 | ||||||||||||||||||||||||||||||||
| Income tax expense (benefit) | 107,617 | (5,122) | 27,121 | (7,457) | — | 122,159 | ||||||||||||||||||||||||||||||||
| Net Income (Loss) | 624,405 | 50,343 | 1,368 | 131,314 | (176,756) | 630,674 | ||||||||||||||||||||||||||||||||
| Non-controlling interests in income of consolidated subsidiaries | 581 | — | 365 | 7,471 | — | 8,417 | ||||||||||||||||||||||||||||||||
| Net Income (Loss) Attributable to Rithm Capital Corp. | 623,824 | 50,343 | 1,003 | 123,843 | (176,756) | 622,257 | ||||||||||||||||||||||||||||||||
| Dividends on preferred stock | — | — | — | — | 89,579 | 89,579 | ||||||||||||||||||||||||||||||||
| Net Income (Loss) Attributable to Common Stockholders | $ | 623,824 | $ | 50,343 | $ | 1,003 | $ | 123,843 | $ | (266,335) | $ | 532,678 | ||||||||||||||||||||||||||
(A)The Origination and Servicing segment’s other segment expenses primarily include expenses related to loan origination and servicing, information technology, occupancy and legal and professional. The Residential Transitional Lending segment’s other segment expenses primarily include expenses related to loan origination, occupancy and information technology. The Asset Management segment’s other segment expenses primarily include expenses related to legal and professional, information technology and occupancy. The Investment Portfolio segment’s other segment expenses primarily include expenses related to loan servicing and property and maintenance.
| Origination and Servicing | Residential Transitional Lending | Asset Management | Investment Portfolio | Corporate Category | Total | |||||||||||||||||||||||||||||||||
| December 31, 2023 | ||||||||||||||||||||||||||||||||||||||
Investments(A) | $ | 19,015,600 | $ | 1,879,319 | $ | — | $ | 3,159,247 | $ | — | $ | 24,054,166 | ||||||||||||||||||||||||||
Cash and cash equivalents(A) | 548,666 | 58,628 | 230,008 | 30,639 | 419,258 | 1,287,199 | ||||||||||||||||||||||||||||||||
Restricted cash(A) | 300,941 | 30,233 | 8,156 | 38,718 | — | 378,048 | ||||||||||||||||||||||||||||||||
Other assets(A) | 5,208,941 | 108,523 | 1,069,203 | 3,707,187 | 20,483 | 10,114,337 | ||||||||||||||||||||||||||||||||
| Goodwill | 29,468 | 55,731 | 46,658 | — | — | 131,857 | ||||||||||||||||||||||||||||||||
Assets of consolidated entities(A) | — | 365,698 | 340,929 | 3,044,850 | — | 3,751,477 | ||||||||||||||||||||||||||||||||
| Total Assets | $ | 25,103,616 | $ | 2,498,132 | $ | 1,694,954 | $ | 9,980,641 | $ | 439,741 | $ | 39,717,084 | ||||||||||||||||||||||||||
Debt(A) | $ | 17,116,565 | $ | 1,537,008 | $ | 455,512 | $ | 3,984,572 | $ | 546,818 | $ | 23,640,475 | ||||||||||||||||||||||||||
Other liabilities(A) | 3,391,408 | 23,608 | 345,999 | 1,837,801 | 213,121 | 5,811,937 | ||||||||||||||||||||||||||||||||
Liabilities of consolidated entities(A) | — | 319,369 | 219,920 | 2,624,345 | — | 3,163,634 | ||||||||||||||||||||||||||||||||
| Total Liabilities | 20,507,973 | 1,879,985 | 1,021,431 | 8,446,718 | 759,939 | 32,616,046 | ||||||||||||||||||||||||||||||||
| Total Stockholders’ Equity | 4,595,643 | 618,147 | 673,523 | 1,533,923 | (320,198) | 7,101,038 | ||||||||||||||||||||||||||||||||
| Non-controlling interests in equity of consolidated subsidiaries | 8,220 | — | 40,971 | 44,905 | — | 94,096 | ||||||||||||||||||||||||||||||||
| Stockholders’ Equity in Rithm Capital Corp. | $ | 4,587,423 | $ | 618,147 | $ | 632,552 | $ | 1,489,018 | $ | (320,198) | $ | 7,006,942 | ||||||||||||||||||||||||||
| Investments in Equity Method Investees | $ | — | $ | — | $ | 91,563 | $ | 110,883 | $ | — | $ | 202,446 | ||||||||||||||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 19, 2026 | Showing above |
| 2024 | Feb 18, 2025 | |
| 2023 | Feb 20, 2024 | |
| 2022 | Feb 17, 2023 | |
| 2021 | Feb 17, 2022 | |
| 2020 | Feb 16, 2021 | |
| 2019 | Feb 20, 2020 | |
| 2018 | Feb 19, 2019 | |
| 2017 | Feb 15, 2018 | |
| 2016 | Feb 22, 2017 | |
| 2015 | Feb 26, 2016 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.