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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Mar. 31, 2022
Mar. 31, 2021
Mar. 31, 2023
Dec. 31, 2021
Dec. 31, 2020
Revenues              
Investment income (loss), net $ 500 $ (25,117) $ (10,811) $ 2,091 $ (54,010) $ 15,534 $ 132,620
Loss on financial instruments, net (3,461) (12,020) (56,011) (2,180) (51,421) 31,837 (30,670)
Interest income 116 85 73   412 7,398 2,082
Trust services and administration revenues 102   0   0 20,300 19,400
Other income     2 0 86 2 36,267
Total revenues (2,743) (37,044) (66,618) 2,364 (104,903) 55,311 140,329
Operating expenses              
Employee compensation and benefits 35,823 11,565 10,125 10,910 45,527 48,523 128,582
Interest expense 3,784 3,619 2,110   15,471 27,457 32,551
Professional services 10,373 7,857 5,449 4,939 38,422 17,801 19,045
Provision for credit losses 0 18,790 9,383 0 20,580 18,755 0
Loss on impairment of goodwill 1,096,305 0          
Other expenses 6,942 7,076 6,149   28,269 13,895 7,564
Total operating expenses 1,153,227 48,907 33,216 25,601 148,269 126,431 187,742
Operating loss (1,155,970) (85,951) (99,834) (23,237) (253,172) (71,120) (47,413)
Income tax expense (benefit) 0 397 1,072 (273) (1,072) 0 3,459
Net loss (1,155,970) (86,348) (100,906) (22,964) (252,100) (105,133) (50,872)
Less: Net loss attributable to noncontrolling interests 44,552 36,247 60,267   136,942 43,383 (7,168)
Less: Noncash deemed contribution on extinguishment of redeemable noncontrolling interest     0   0 14,200 0
Less: Noncash deemed dividend on extinguishment of preferred equity interests of noncontrolling interest holders     0   0 (46,202) 0
Less: Noncontrolling interest guaranteed payment (4,105) (3,868) (3,788) 0 (15,822) (1,264) 0
Net loss attributable to The Beneficient Company Group, L.P. common unitholders (1,115,523) (53,969) (44,427) (6,796) (130,980) (95,016) (58,040)
Other comprehensive income:              
Unrealized gain on investments in available-for-sale debt securities 4,290 [1] (1,798) [2] 110 0 11,226 (1,436) 0
Total comprehensive loss (1,111,233) (55,767) (44,317) (6,796) (119,754) (96,452) (58,040)
Less: comprehensive gain attributable to noncontrolling interests 4,290 (1,798) 110 0 11,226 (1,436) 0
Total comprehensive loss attributable to The Beneficient Company Group, L.P. (1,115,523) (53,969) $ (44,427) $ (6,796) $ (130,980) $ (95,016) $ (58,040)
Earnings Per Share [Abstract]              
Net loss per common unit attributable to common unitholders- basic (in dollars per share)     $ (0.66) $ (0.14) $ (1.94) $ (1.84) $ (1.27)
Net loss per common unit attributable to common unitholders- diluted (in dollars per share)     $ (0.66) $ (0.14) $ (1.94) $ (1.84) $ (1.27)
Weighted Average Number of Shares Outstanding [Abstract]              
Weighted average common units outstanding - basic (in shares)     67,486,168 48,205,800 67,486,168 51,534,365 45,807,648
Weighted average common units outstanding - diluted (in shares)     67,486,168 48,205,800 67,486,168 51,534,365 45,807,648
Loss on extinguishment of debt, related parties     $ 0   $ 0 $ (34,013) $ 0
Loss before income taxes           (105,133) (47,413)
Common Class A              
Operating expenses              
Net loss attributable to The Beneficient Company Group, L.P. common unitholders $ (1,013,454) $ (48,786)          
Earnings Per Share [Abstract]              
Net loss per common unit attributable to common unitholders- basic (in dollars per share) $ (5.5) [3] $ (0.27) [3] $ (0.27)        
Net loss per common unit attributable to common unitholders- diluted (in dollars per share) $ (5.5) [3] $ (0.27) [3] (0.27)        
Weighted Average Number of Shares Outstanding [Abstract]              
Weighted average common units outstanding - basic (in shares) [3] 184,160,036 180,178,268          
Weighted average common units outstanding - diluted (in shares) [3] 184,160,036 180,178,268          
Common Class B              
Operating expenses              
Net loss attributable to The Beneficient Company Group, L.P. common unitholders $ (102,069) $ (5,183)          
Earnings Per Share [Abstract]              
Net loss per common unit attributable to common unitholders- basic (in dollars per share) $ (5.33) [3] $ (0.27) [3] (0.27)        
Net loss per common unit attributable to common unitholders- diluted (in dollars per share) $ (5.33) [3] $ (0.27) [3] $ (0.27)        
Weighted Average Number of Shares Outstanding [Abstract]              
Weighted average common units outstanding - basic (in shares) [3] 19,140,451 19,140,451          
Weighted average common units outstanding - diluted (in shares) [3] 19,140,451 19,140,451          
Related Party              
Revenues              
Investment income (loss), net           0 88,514
Loss on financial instruments, net $ (3,566) $ (14,805) $ (56,011) $ 0 (63,536) (37,012) (22,913)
Interest income     0 1,777 0 7,110 1,777
Trust services and administration revenues 8 8 8 8 30 30 30
Operating expenses              
Interest expense 732 609 514 6,651 2,797 25,307 30,171
Other expenses 2,116 2,198 2,297 576 8,704 4,105 3,763
Weighted Average Number of Shares Outstanding [Abstract]              
Loss on extinguishment of debt, related parties           (34,013) 0
Non Related Parties [Member]              
Revenues              
Loss on financial instruments, net     (56,011) (2,180) (51,421) 31,837 (30,670)
Interest income     73 1,937 412 7,398 2,082
Trust services and administration revenues     129 516 30 540 30
Operating expenses              
Interest expense     2,110 7,184 15,471 27,457 32,551
Other expenses     6,149 2,568 28,269 13,895 7,564
Nonrelated Party              
Revenues              
Loss on financial instruments, net (3,461) (12,020)          
Trust services and administration revenues 102 8          
Operating expenses              
Interest expense 3,784 3,619          
Other expenses 6,942 7,076          
Variable Interest Entity, Primary Beneficiary              
Operating expenses              
Less: Net loss attributable to noncontrolling interests 13,866 28,711 55,229 12,832 117,861 30,513 (47,582)
Consolidated Entity, Excluding Consolidated VIE              
Operating expenses              
Less: Net loss attributable to noncontrolling interests $ 30,686 $ 7,536 $ 5,038 $ 3,336 $ 19,081 $ 12,870 $ 40,414
[1] Retroactively adjusted March 31, 2023 for de-SPAC merger transaction as described in Note 4.
[2] Retroactively adjusted March 31, 2022 and three months ended June 30, 2022 for de-SPAC merger transaction as described in Note 4.
[3] Retroactively adjusted the three months ended June 30, 2022 for the
de-SPAC
merger transaction as described in Note 4.