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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenues:        
Services and fees $ 144,823 $ 113,111 $ 429,799 $ 356,975
Trading income (loss) and fair value adjustments on loans 31,753 40,268 (36,142) 71,730
Interest income - Loans and securities lending 26,026 25,766 72,383 54,147
Sale of goods 23,651 918 26,475 4,023
Total revenues 226,253 180,063 492,515 486,875
Operating expenses:        
Direct cost of services 23,264 7,936 51,201 41,715
Cost of goods sold 9,813 911 11,442 3,835
Selling, general and administrative expenses 97,143 101,092 291,449 287,963
Restructuring charge 1,557 1,557 1,699
Impairment of tradenames     12,500  
Interest expense - Securities lending and loan participations sold 10,975 10,273 30,669 22,579
Total operating expenses 142,752 120,212 398,818 357,791
Operating income 83,501 59,851 93,697 129,084
Other income (expense):        
Interest income 67 361 537 1,329
Income (loss) from equity investments 409 1,113 (145) (4,049)
Interest expense (16,374) (12,772) (48,537) (35,130)
Income before income taxes 67,603 48,553 45,552 91,234
Provision for income taxes (18,711) (14,409) (13,380) (26,802)
Net income 48,892 34,144 32,172 64,432
Net income (loss) attributable to noncontrolling interests 513 (158) (1,382) (50)
Net income attributable to B. Riley Financial, Inc. 48,379 34,302 33,554 64,482
Preferred stock dividends 1,088   3,230  
Net income available to common shareholders $ 47,291 $ 34,302 $ 30,324 $ 64,482
Basic income per common share (in Dollars per share) $ 1.86 $ 1.29 $ 1.18 $ 2.45
Diluted income per common share (in Dollars per share) $ 1.75 $ 1.21 $ 1.14 $ 2.37
Weighted average basic common shares outstanding (in Shares) 25,446,292 26,556,223 25,699,735 26,351,839
Weighted average diluted common shares outstanding (in Shares) 27,050,448 28,233,423 26,689,700 27,251,837