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Condensed Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Gain on sale of loans    
Gain on sale of loans excluding fair value of MSRs, net $ 476,429 $ 265,003
Fair value of originated MSRs 222,797 204,560
Gain on sale of loans, net 699,226 469,563
Loan servicing income (loss)    
Servicing fee income 345,746 366,385
Change in fair value of MSRs 56,508 (398,279)
Loan servicing income (loss), net 402,254 (31,894)
Interest income    
Interest income 88,980 66,744
Interest expense on funding facilities (51,443) (35,112)
Interest income, net 37,537 31,632
Other income 244,699 196,767
Total revenue, net 1,383,716 666,068 Close
Expenses    
Salaries, commissions and team member benefits 541,096 603,775
General and administrative expenses 236,665 195,390
Marketing and advertising expenses 206,296 181,604
Depreciation and amortization 27,017 30,685
Interest and amortization expense on non-funding debt 38,365 38,333
Other expenses 35,907 32,268
Total expenses 1,085,346 1,082,055 Close
Income (loss) before income taxes 298,370 (415,987) Close
(Provision for) benefit from income taxes (7,656) 4,504 Close
Net income (loss) 290,714 (411,483) Close
Net (income) loss attributable to non-controlling interest (274,499) 392,960
Net income (loss) attributable to Rocket Companies $ 16,215 $ (18,523)
Earnings (loss) per share of Class A common stock    
Basic (in dollars per share) $ 0.12 $ (0.15)
Diluted (in dollars per share) $ 0.11 $ (0.16)
Weighted average shares outstanding    
Basic (in shares) 136,991,743 124,732,722
Diluted (in shares) 1,991,982,680 1,974,629,808
Comprehensive income (loss)    
Net income (loss) $ 290,714 $ (411,483)
Cumulative translation adjustment 314 7
Unrealized loss on investment securities 0 (1,589)
Comprehensive income (loss) 291,028 (413,065)
Comprehensive (income) loss attributable to non-controlling interest (274,792) 394,441
Comprehensive income (loss) attributable to Rocket Companies $ 16,236 $ (18,624)