XML 52 R40.htm IDEA: XBRL DOCUMENT v3.22.2.2
BUSINESS SEGMENTS (Tables)
 9 Months Ended
Sep. 30, 2022
Segment Reporting [Abstract]  
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
September 30,
Nine Months Ended
September 30,
2022202120222021
Capital Markets segment:
Revenues - Services and fees$113,217 $134,849 $249,727 $431,825 
Trading income (loss) and fair value adjustments on loans11,127 16,935 (283,240)311,335 
Interest income - Loans and securities lending55,054 26,869 178,879 89,280 
Total revenues179,398 178,653 145,366 832,440 
Selling, general and administrative expenses(35,673)(80,152)(115,655)(231,765)
Interest expense - Securities lending and loan participations sold(17,447)(10,097)(43,757)(40,269)
Depreciation and amortization(2,174)(514)(6,271)(1,526)
Segment income (loss) 124,104 87,890 (20,317)558,880 
Wealth Management segment:    
Revenues - Services and fees47,145 117,572 184,963 270,558 
Trading income and fair value adjustments on loans1,027 1,262 3,077 6,483 
Total revenues48,172 118,834 188,040 277,041 
Selling, general and administrative expenses(52,302)(110,157)(206,438)(260,331)
Restructuring charge(4,106)— (4,106)— 
Depreciation and amortization(1,261)(2,093)(4,402)(6,832)
Segment (loss) income(9,497)6,584 (26,906)9,878 
Auction and Liquidation segment:    
Revenues - Services and fees1,949 2,745 7,792 15,637 
Revenues - Sale of goods2,550 34,327 2,550 52,162 
Interest income - Loans and securities lending2,540 — 3,976 — 
Total revenues7,039 37,072 14,318 67,799 
Direct cost of services(2,999)(13,622)(6,630)(27,742)
Cost of goods sold(1,235)(11,999)(1,235)(19,578)
Selling, general and administrative expenses(2,228)(5,153)(6,225)(9,719)
Segment income577 6,298 228 10,760 
Financial Consulting segment:    
Revenues - Services and fees22,835 21,291 73,081 66,435 
Selling, general and administrative expenses(20,056)(18,436)(60,947)(55,896)
Depreciation and amortization(75)(86)(234)(273)
Segment income2,704 2,769 11,900 10,266 
Principal Investments - Communications and Other segment:    
Revenues - Services and fees76,316 18,669 147,748 57,394 
Revenues - Sale of goods1,580 631 5,345 2,081 
Total revenues77,896 19,300 153,093 59,475 
Direct cost of services(41,524)(4,397)(67,329)(13,693)
Cost of goods sold(1,854)(443)(6,099)(1,816)
Selling, general and administrative expenses(22,267)(5,458)(44,103)(15,096)
Restructuring charge(3,910)— (3,910)— 
Depreciation and amortization(6,435)(2,496)(13,255)(7,558)
Segment income1,906 6,506 18,397 21,312 
Brands segment:    
Revenues - Services and fees5,023 6,372 14,754 15,261 
Selling, general and administrative expenses(845)(972)(2,419)(2,338)
Depreciation and amortization(579)(714)(1,745)(2,143)
Segment income3,599 4,686 10,590 10,780 
Consolidated operating income (loss) from reportable segments123,393 114,733 (6,108)621,876 
    
Corporate and other expenses(19,832)(17,987)(44,368)(42,007)
Interest income686 70 1,253 175 
Change in fair value of financial instruments and other(574)1,758 9,728 8,267 
(Loss) income from equity investments(91)1,149 3,285 1,172 
Interest expense(34,587)(25,372)(96,787)(66,014)
Income (loss) before income taxes68,995 74,351 (132,997)523,469 
(Provision for) benefit from income taxes(16,350)(22,693)39,858 (140,113)
Net income (loss)52,645 51,658 (93,139)383,356 
Net income attributable to noncontrolling interests and redeemable noncontrolling interests4,808 1,108 9,245 2,474 
Net income (loss) attributable to B. Riley Financial, Inc.47,837 50,550 (102,384)380,882 
Preferred stock dividends2,002 1,929 6,006 5,467 
Net income (loss) available to common shareholders$45,835 $48,621 $(108,390)$375,415 
Schedule of revenues by geographical area
The following table presents revenues by geographical area:
Three Months Ended
September 30,
Nine Months Ended
September 30,
2022202120222021
Revenues:
Revenues - Services and fees:
North America$261,600 $300,340 $667,969 $854,429 
Europe4,885 1,157 10,096 2,680 
Total Revenues - Services and fees266,485 301,497 $678,065 $857,109 
     
Trading income (losses) and fair value adjustments on loans    
North America12,154 18,197 $(280,163)$317,818 
    
Revenues - Sale of goods  
North America4,130 631 $7,895 $8,169 
Europe— 34,328 — 46,075 
Total Revenues - Sale of goods4,130 34,959 $7,895 $54,244 
    
Revenues - Interest income - Loans and securities lending:  
North America57,594 26,869 $182,855 $89,280 
    
Total Revenues:    
North America335,478 346,037 $578,556 $1,269,696 
Europe4,885 35,485 10,096 48,755 
Total Revenues$340,363 $381,522 $588,652 $1,318,451