BUSINESS SEGMENTS (Tables)

3 Months Ended

Mar. 31, 2022

Schedule of segment reporting information, by segment

The following is a summary of certain financial data for each of the Company’s reportable segments:


	Three Months Ended March 31,
	2022		2021
Capital Markets segment:
Revenues - Services and fees	$	69,084	$	170,979
Trading (loss) income and fair value adjustments on loans	(68,912)		264,503
Interest income - Loans and securities lending	61,426		36,920
Total revenues	61,598		472,402
Selling, general and administrative expenses	(34,117)		(86,140)

Interest expense - Securities lending and loan participations sold	(11,766)		(19,189)
Depreciation and amortization	(1,893)		(765)
Segment income	13,822		366,308
Wealth Management segment:
Revenues - Services and fees	76,957		65,542
Trading income and fair value adjustments on loans	522		2,356
Total revenues	77,479		67,898
Selling, general and administrative expenses	(85,742)		(61,472)


Depreciation and amortization	(1,833)		(2,399)
Segment (loss) income	(10,096)		4,027
Auction and Liquidation segment:
Revenues - Services and fees	3,355		7,358
Revenues - Sale of goods	—		6,092
Total revenues	3,355		13,450
Direct cost of services	(2,335)		(6,580)
Cost of goods sold	—		(4,474)
Selling, general and administrative expenses	(1,820)		(1,489)


Segment (loss) income	(800)		907
Financial Consulting segment:
Revenues - Services and fees	25,936		21,409
Selling, general and administrative expenses	(20,943)		(17,989)

Depreciation and amortization	(81)		(98)
Segment income	4,912		3,322
Principal Investments - Communications and Other segment:
Revenues - Services and fees	30,786		19,793
Revenues - Sale of goods	1,878		736
Total revenues	32,664		20,529
Direct cost of services	(9,316)		(4,742)
Cost of goods sold	(2,251)		(852)
Selling, general and administrative expenses	(9,028)		(4,870)
Depreciation and amortization	(3,225)		(2,534)
Segment income	8,844		7,531
Brands segment:
Revenues - Services and fees	4,557		4,388
Trading income and fair value adjustments on loans	—		83
Total revenues	4,557		4,471
Selling, general and administrative expenses	(756)		(676)
Depreciation and amortization	(583)		(714)

Segment income	3,218		3,081
Consolidated operating income from reportable segments	19,900		385,176

Corporate and other expenses	(15,178)		(12,198)
Interest income	67		49
Change in fair value of financial instruments and other	5,981		—
Income on equity investments	6,775		875
Interest expense	(30,436)		(19,786)
(Loss) income before income taxes	(12,891)		354,116
Benefit from (provision for) income taxes	3,695		(97,518)
Net (loss) income	(9,196)		256,598
Net income attributable to noncontrolling interests	866		1,942
Net (loss) income attributable to B. Riley Financial, Inc.	(10,062)		254,656
Preferred stock dividends	2,002		1,749
Net (loss) income available to common shareholders	$	(12,064)	$	252,907

Schedule of revenues by geographical area

The following table presents revenues by geographical area:


	Three Months Ended March 31,
	2022		2021
Revenues:
Revenues - Services and fees:
North America	$	208,722	$	288,984

Europe	1,953		485
Total Revenues - Services and fees	210,675		289,469

Trading income (losses) and fair value adjustments on loans
North America	(68,390)		266,942

Revenues - Sale of goods
North America	1,878		6,828



Revenues - Interest income - Loans and securities lending:
North America	61,426		36,920

Total Revenues:
North America	203,636		599,674

Europe	1,953		485
Total Revenues	$	205,589	$	600,159