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 thousands)

3/31/2024
Q1
12/31/2023
Q4
9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments1,108,466957,254920,486893,383722,293825,926
Cash and cash equivalents1,108,466957,254882,783893,383722,293825,926
Short-term investments   37,703   
Total current assets:1,108,466957,254920,486893,383722,293825,926
Noncurrent Assets
Operating lease, right-of-use asset347,696355,412371,425391,897366,189381,232
Property, plant and equipment250,856256,411263,251267,320274,192274,480
Intangible assets, net (including goodwill), including:1,236,7651,242,2181,248,0061,253,3091,258,928 
Goodwill 1,100,000   1,136,292 
Intangible assets, net (excluding goodwill) 100,473   122,636 
Other undisclosed intangible assets, net (including goodwill)36,2921,242,2181,248,0061,253,309  
Deferred income tax assets550,149531,509537,893541,248537,963513,515
Total noncurrent assets:2,385,4662,385,5502,420,5752,453,7742,437,2721,169,227
Other undisclosed assets15,737,80817,305,93517,514,61617,855,12216,922,64720,605,449
TOTAL ASSETS:19,231,74020,648,73920,855,67721,202,27920,082,21222,600,602
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Noncurrent Liabilities
Liabilities, other than long-term debt 15,559   16,224 
Deferred income tax liabilities 15,559   16,224 
Total noncurrent liabilities: 15,559   16,224 
Other undisclosed liabilities10,914,47112,142,36612,490,82313,092,93411,590,43913,689,342
Total liabilities:10,930,03012,142,36612,490,82313,092,93411,606,66313,689,342
Equity
Equity, attributable to parent624,880611,842590,717575,683576,684558,513
Additional paid in capital340,532317,004302,140294,718276,221242,074
Accumulated other comprehensive income (loss)526860(32)6958
Retained earnings284,296294,770288,517280,997300,394316,381
Equity, attributable to noncontrolling interest7,676,8107,894,5117,774,1177,533,6427,898,8458,352,727
Other undisclosed equity202020202020
Total equity:8,301,7108,506,3738,364,8548,109,3458,475,5498,911,260
TOTAL LIABILITIES AND EQUITY:19,231,74020,648,73920,855,67721,202,27920,082,21222,600,602

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

3/31/2024
Q1
12/31/2023
Q4
9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
Revenues1,129,1831,246,3271,237,9221,093,407923,7301,190,555
Contractually specified servicing fee, late fee, and ancillary fee earned in exchange for servicing financial asset347,743344,061343,591366,385370,633364,211
Gain on disposition of assets for financial service operations430,137572,123594,469469,563280,783566,011
Other income265,224236,275219,105190,715187,213164,580
Cost of revenue(559,644)(665,102)(653,232)(674,376)(590,468)(749,129)
Other undisclosed gross profit(419,944)(13,024)(13,701)(400,748)(446,354)125,518
Gross profit:149,595568,201570,98918,283(113,092)566,944
Operating expenses(377,067)(420,441)(444,625)(407,679)(395,742)(439,202)
Operating income (loss):(227,472)147,760126,364(389,396)(508,834)127,742
Income (loss) from continuing operations before equity method investments, income taxes:(227,472)147,760126,364(389,396)(508,834)127,742
Other undisclosed income (loss) from continuing operations before income taxes(15,433)(30,135)12,006(26,591)3,416(21,387)
Income (loss) from continuing operations before income taxes:(242,905)117,625138,370(415,987)(505,418)106,355
Income tax expense (benefit)10,211(2,680)7824,50412,763(10,131)
Income (loss) from continuing operations:(232,694)114,945139,152(411,483)(492,655)96,224
Income before gain (loss) on sale of properties:96,224
Net income (loss):(232,694)114,945139,152(411,483)(492,655)96,224
Net income (loss) attributable to noncontrolling interest222,059(108,739)(131,714)392,960475,039(89,314)
Net income (loss) attributable to parent:(10,635)6,2067,438(18,523)(17,616)6,910
Undistributed earnings (loss) allocated to participating securities, basic     (16)3
Net income (loss) available to common stockholders, basic:(10,635)6,2067,438(18,523)(17,632)6,913
Dilutive securities, effect on basic earnings per share(167,872)82,84097,697(295,930)(364,343)75,378
Net income (loss) available to common stockholders, diluted:(178,507)89,046105,135(314,453)(381,975)82,291

Comprehensive Income ($ in thousands)

3/31/2024
Q1
12/31/2023
Q4
9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
Net income (loss):(232,694)114,945139,152(411,483)(492,655)96,224
Other undisclosed comprehensive income (loss)(203)1641,430(1,582)1311,280
Comprehensive income (loss):(232,897)115,109140,582(413,065)(492,524)97,504
Comprehensive income (loss), net of tax, attributable to noncontrolling interest222,248(108,893)(133,052)394,441474,915(90,513)
Comprehensive income (loss), net of tax, attributable to parent:(10,649)6,2167,530(18,624)(17,609)6,991

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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