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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
Assets:    
Cash and cash equivalents $ 209,971 $ 268,618
Restricted cash 2,351 2,308
Due from clearing brokers 19,145 48,737
Securities and other investments owned, at fair value 1,049,230 1,129,268
Securities borrowed 2,942,843 2,343,327
Accounts receivable, net 120,853 149,110
Due from related parties 372 1,081
Loans receivable, at fair value (includes $97,062 and $98,729 from related parties as of March 31, 2023 and December 31, 2022, respectively) 772,085 701,652
Prepaid expenses and other assets 491,872 460,696
Operating lease right-of-use assets 88,989 88,593
Property and equipment, net 27,577 27,141
Goodwill 523,997 512,595
Other intangible assets, net 366,060 374,098
Deferred income taxes 2,845 3,978
Total assets 6,618,190 6,111,202
Liabilities:    
Accounts payable 59,969 81,384
Accrued expenses and other liabilities 263,335 322,974
Deferred revenue 84,019 85,441
Deferred income taxes 34,274 29,548
Due to related parties and partners 431 2,210
Due to clearing brokers 6,033 19,307
Securities sold not yet purchased 7,806 5,897
Securities loaned 2,937,982 2,334,031
Operating lease liabilities 100,075 99,124
Notes payable 19,882 25,263
Revolving credit facility 139,463 127,678
Term loans, net 626,613 572,079
Senior notes payable, net 1,722,977 1,721,751
Total liabilities 6,002,859 5,426,687
Commitments and contingencies (Note 17)
Redeemable noncontrolling interests in equity of subsidiaries 174,967 178,622
B. Riley Financial, Inc. equity:    
Preferred stock, $0.0001 par value; 1,000,000 shares authorized; 4,563 and 4,545 shares issued and outstanding as of March 31, 2023 and December 31, 2022, respectively; and liquidation preference of $114,082 and $113,615 as of March 31, 2023 and December 31, 2022, respectively 0 0
Common stock, $0.0001 par value; 100,000,000 shares authorized; 28,135,636 and 28,523,764 issued and outstanding as of March 31, 2023 and December 31, 2022, respectively 3 3
Additional paid-in capital 445,352 494,201
Accumulated deficit (62,566) (45,220)
Accumulated other comprehensive loss (1,604) (2,470)
Total B. Riley Financial, Inc. stockholders’ equity 381,185 446,514
Noncontrolling interests 59,179 59,379
Total equity 440,364 505,893
Total liabilities and equity $ 6,618,190 $ 6,111,202