OPERATING LEASES

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

OPERATING LEASES

OPERATING LEASES

Rithm Capital, through its wholly-owned subsidiaries, has leases on office space expiring through 2033. Rent expense, net of sublease income for the year ended December 31, 2022, 2021 and 2020 totaled $45.2 million, $26.1 million and $13.5 million, 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.

As of December 31, 2022, future commitments under the non-cancelable leases are as follows:

Year Ending	Amount
2023	$	29,631
2024	22,767
2025	16,930
2026	10,480
2027	8,630
2028 and thereafter	25,783
Total remaining undiscounted lease payments	114,221
Less: imputed interest	12,996
Total remaining discounted lease payments	$	101,225

The future commitments under the non-cancelable leases have not been reduced by the sublease rentals of $8.5 million due in the future periods.

Other information related to operating leases is summarized below:

	December 31,
	2022		2021
Weighted-average remaining lease term (years)	5.7		5.5
Weighted-average discount rate	4.0	%	4.1	%