Rocket Companies Inc. (RKT) Financial Statements (2024 and earlier)

Company Profile

Business Address 1050 WOODWARD AVENUE
DETROIT, MI 48226
State of Incorp.
Fiscal Year End December 31
Industry (SIC) 6162 - Mortgage Bankers and Loan Correspondents (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in millions)

3/31/2024
MRQ
12/31/2023
12/31/2022
12/31/2021
12/31/2020
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments1,1087222,1311,971
Cash and cash equivalents1,1087222,1311,971
Total current assets:1,1087222,1311,971
Noncurrent Assets
Operating lease, right-of-use asset348366428239
Property, plant and equipment251274254211
Intangible assets, net (including goodwill), including:1,2371,2591,29747
Goodwill 1,1001,136  
Intangible assets, net (excluding goodwill) 100123  
Other undisclosed intangible assets, net (including goodwill)36 1,29747
Deferred income tax assets550538572520
Total noncurrent assets:2,3852,4372,5511,017
Other undisclosed assets15,73816,92328,09234,547
TOTAL ASSETS:19,23220,08232,77537,535
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Noncurrent Liabilities
Liabilities, other than long-term debt 16162810
Deferred income tax liabilities 16162810
Total noncurrent liabilities: 16162810
Other undisclosed liabilities10,91411,59022,98729,642
Total liabilities:10,93011,60723,01529,652
Equity
Equity, attributable to parent625577666490
Additional paid in capital341276288283
Accumulated other comprehensive income0000
Retained earnings284300378207
Equity, attributable to noncontrolling interest7,6777,8999,0947,392
Other undisclosed equity0000
Total equity:8,3028,4769,7607,882
TOTAL LIABILITIES AND EQUITY:19,23220,08232,77537,535

Income Statement (P&L) ($ in millions)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
Revenues4,7075,82013,86518,275
Contractually specified servicing fee, late fee, and ancillary fee earned in exchange for servicing financial asset1,4021,4591,3261,074
Gain on disposition of assets for financial service operations2,0663,13710,46915,071
Other income9118731,6401,800
Cost of revenue(2,552)(3,151)(4,222)(4,126)
Other undisclosed gross profit(847)(70)(1,387)(3,086)
Gross profit:1,3072,5998,25611,063
Operating expenses(1,650)(1,946)(2,508)(2,077)
Operating income (loss):(343)6535,7488,985
Nonoperating expense
(Mortgage Servicing Rights (MSR) Impairment (Recovery))
    (2,294)
Interest and debt expense   (87)(44)
Other undisclosed income from continuing operations before equity method investments, income taxes    2,884
Income (loss) from continuing operations before equity method investments, income taxes:(343)6535,6619,532
Other undisclosed income (loss) from continuing operations before income taxes(60)89524 
Income (loss) from continuing operations before income taxes:(403)7426,1859,532
Income tax expense (benefit)13(42)(113)(132)
Income (loss) from continuing operations:(390)7006,0729,399
Income before gain (loss) on sale of properties:6,0729,399
Net income (loss):(390)7006,0729,399
Net income (loss) attributable to noncontrolling interest375(654)(5,764)(9,201)
Net income (loss) attributable to parent:(16)46308198
Undistributed earnings (loss) allocated to participating securities, basic  00 
Net income (loss) available to common stockholders, basic:(16)46308198
Dilutive securities, effect on basic earnings per share(283)5044,3127
Net income (loss) available to common stockholders, diluted:(299)5504,620205

Comprehensive Income ($ in millions)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
Net income (loss):(390)7006,0729,399
Other undisclosed comprehensive income (loss)(0)(0)(6)6
Comprehensive income (loss):(390)6996,0669,405
Comprehensive income (loss), net of tax, attributable to noncontrolling interest375(653)(5,759)(9,207)
Comprehensive income (loss), net of tax, attributable to parent:(16)46308198

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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