Income Taxes (Tables)

3 Months Ended

12 Months Ended

Jun. 30, 2023

Mar. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The components of income tax expense (benefit) for the three months ended June 30, 2023 and 2022, were as follows:

(Dollars in thousands)	Three Months Ended June 30,
	2023		2022
Deferred expense
Federal	$	—	$	397
Income tax expense (benefit)	$	—	$	397

The components of income tax expense (benefit) for the year ended March 31, 2023, the three months ended March 31, 2022, and the years ended December 31, 2021 and 2020, were as follows:

(Dollars in thousands)	Year Ended March 31, 2023			Three Months Ended March 31, 2022		Year Ended December 31, 2021		Year Ended December 31, 2020
Deferred expense
Federal	$	(1,072	)	$	1,072	$	—	$	3,459
Income tax expense (benefit)	$	(1,072	)	$	1,072	$	—	$	3,459

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation between the Federal statutory income tax rate of 21% to the effective income tax rate for the year ended March 31, 2023, the three months ended March 31, 2022, and the years ended December 31, 2021 and 2020, respectively, are shown below:

(Dollars in thousands)	Year Ended March 31, 2023			Three Months Ended March 31, 2022			Year Ended December 31, 2021			Year Ended December 31, 2020
Expected statutory income tax benefit	$	(51,011	)	$	(9,381	)	$	(20,403	)	$	(19,949	)
Amounts attributable to non-taxable flow-through entities		41,240			5,279			19,413			19,030
Amounts not deductible for income tax		505			11			(776	)		1,368
Change in valuation allowance		8,194			5,163			1,766			3,010
Income tax expense (benefit)	$	(1,072	)	$	1,072		$	—		$	3,459

Schedule of Deferred Tax Assets and Liabilities

The components of gross deferred tax assets and gross deferred tax liabilities as of March 31, 2023 and March 31, 2022, are as follows (included in other assets):

(Dollars in thousands)	March 31, 2023		March 31, 2022
Deferred income tax assets:
Passthrough differences—temporary	$	17,142	$	8,948
Net operating loss		991		991
Non-current deferred income tax assets		18,133		9,939
Deferred income tax liabilities:
Other		—		(1,072	)
Non-current deferred income tax liabilities		—		(1,072	)
Less: valuation allowance		18,133		9,939
Total deferred income tax liability	$	—	$	(1,072	)