XML 61 R52.htm IDEA: XBRL DOCUMENT
v3.22.2

SEGMENT REPORTING (Tables) | 3 Months Ended
--- | ---
Jun. 30, 2022
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information, by Segment | The following tables summarize the Company's Statement of Operations and Statements of Other Comprehensive Income by its geographic segments. Intercompany balances were eliminated for separate disclosure:
| Quarter ended June 30, 2022
STATEMENTS OF OPERATIONS | Central Asia | Europe | U.S. | Russia | Middle East/Caucasus | Total
Fee and commission income (1) | $ | 9,192 |  | $ | 84,034 |  | $ | 1,134 |  | $ | 37,281 |  | $ | — |  | $ | 131,641 |
Net gain/(loss) on trading securities | 21,589 |  | (15,424) |  | (1,731) |  | 11,148 |  | — |  | 15,582 |
Net realized loss on investments available for sale | (593) |  | — |  | — |  | — |  | — |  | (593) |
Interest income | 38,910 |  | 297 |  | 4,442 |  | 5,804 |  | — |  | 49,453 |
Income from insurance activity | 24,241 |  | — |  | — |  | — |  | — |  | 24,241 |
Net gain/(loss) on foreign exchange operations | 4,268 |  | 569 |  | (234) |  | 426 |  | (10) |  | 5,019 |
Net gain on derivative | 1,265 |  | — |  | — |  | — |  | — |  | 1,265 |
TOTAL REVENUE, NET | 98,872 |  | 69,476 |  | 3,611 |  | 54,659 |  | (10) |  | 226,608 |
Fee and commission expense | 10,714 |  | 12,427 |  | 153 |  | 1,926 |  | 21 |  | 25,241 |
Interest expense | 31,968 |  | 2,696 |  | 5,407 |  | 5,758 |  | — |  | 45,829 |
Expenses related to Insurance activity | 16,692 |  | — |  | — |  | — |  | — |  | 16,692 |
Operating expense | 20,766 |  | 11,565 |  | 5,267 |  | 27,469 |  | 400 |  | 65,467 |
Provision for impairment losses/(recoveries) | 2,431 |  | — |  | (3) |  | 370 |  | — |  | 2,798 |
Other expense/(income), net | (496) |  | 2 |  | (6) |  | 30 |  | (57) |  | (527) |
TOTAL EXPENSE | 82,075 |  | 26,690 |  | 10,818 |  | 35,553 |  | 364 |  | 155,500 |
NET INCOME BEFORE INCOME TAX | 16,797 |  | 42,786 |  | (7,207) |  | 19,106 |  | (374) |  | 71,108 |
Income tax (expense)/benefit | (61) |  | (7,223) |  | (1,605) |  | (3,156) |  | 10 |  | (12,035) |
NET PROFIT/(LOSS) | $ | 16,736 |  | $ | 35,563 |  | $ | (8,812) |  | $ | 15,950 |  | $ | (364) |  | $ | 59,073 |
| Quarter ended June 30, 2021 (Recast)
STATEMENTS OF OPERATIONS | Central Asia | Europe | U.S. | Russia | Middle East/Caucasus | Total
Fee and commission income | $ | 6,342 |  | $ | 71,991 |  | $ | 969 |  | $ | 18,081 |  | $ | — |  | $ | 97,383 |
Net gain/(loss) on trading securities | 8,942 |  | 42 |  | (302) |  | 2,059 |  | — |  | 10,741 |
Net realized loss on investments available for sale | (31) |  | — |  | — |  | — |  | — |  | (31) |
Interest income | 20,829 |  | 261 |  | 47 |  | 3,525 |  | — |  | 24,662 |
Income from insurance activity | 14,076 |  |  |  |  | — |  | 14,076 |
Net gain/(loss) on foreign exchange operations | 1,470 |  | (226) |  | (36) |  | (2,232) |  | — |  | (1,024) |
Net loss on derivative | (59) |  | — |  | — |  | (1) |  | — |  | (60) |
TOTAL REVENUE, NET | 51,569 |  | 72,068 |  | 678 |  | 21,432 |  | — |  | 145,747 |
Fee and commission expense | 2,532 |  | 18,480 |  | 182 |  | 2,066 |  | — |  | 23,260 |
Interest expense | 12,268 |  | 1,698 |  | 280 |  | 2,249 |  | — |  | 16,495 |
Expense from insurance activity | 11,296 |  | — |  | — |  | — |  | — |  | 11,296 |
Operating expense | 11,128 |  | 4,792 |  | 4,857 |  | 12,432 |  | 35 |  | 33,244 |
Provision for impairment losses | 255 |  | 12 |  | — |  | 26 |  | — |  | 293 |
Other expense, net | 47 |  | 3 |  | — |  | 75 |  | — |  | 125 |
TOTAL EXPENSE | 37,526 |  | 24,985 |  | 5,319 |  | 16,848 |  | 35 |  | 84,713 |
NET INCOME BEFORE INCOME TAX | 14,043 |  | 47,083 |  | (4,641) |  | 4,584 |  | (35) |  | 61,034 |
Income tax (expense)/benefit | (114) |  | (5,862) |  | 849 |  | (537) |  | — |  | (5,664) |
NET PROFIT/(LOSS) | $ | 13,929 |  | $ | 41,221 |  | $ | (3,792) |  | $ | 4,047 |  | $ | (35) |  | $ | 55,370 |
(1) All trading of U.S. and European exchange traded and OTC securities by all of the Company's securities brokerage firms, excluding PrimeEx, are routed to and executed through Freedom EU and all fee and commission income for those transactions is recognized at Freedom EU. The following tables summarize the Company's total asset and total liabilities by its geographic segments. Intercompany balances were eliminated for separate disclosure:
| June 30, 2022
| Central Asia | Europe | U.S. | Russia | Middle East/Caucasus | Total
Total assets | $ | 1,901,585 |  | $ | 589,078 |  | $ | 147,548 |  | $ | 1,157,130 |  | $ | 1,853 |  | $ | 3,797,194 |
Total liabilities | 1,641,727 |  | 358,023 |  | 152,458 |  | 1,037,683 |  | 387 |  | 3,190,278 |
Net assets | $ | 259,858 |  | $ | 231,055 |  | $ | (4,910) |  | $ | 119,447 |  | $ | 1,466 |  | $ | 606,916 |
| March 31, 2022 (Recast)
| Central Asia | Europe | U.S. | Russia | Middle East/Caucasus | Total
Total assets | $ | 1,422,912 |  | $ | 777,116 |  | $ | 170,149 |  | $ | 806,960 |  | $ | 355 |  | $ | 3,177,492 |
Total liabilities | 1,203,486 |  | 471,435 |  | 175,136 |  | 780,655 |  | 172 |  | 2,630,884 |
Net assets | $ | 219,426 |  | $ | 305,681 |  | $ | (4,987) |  | $ | 26,305 |  | $ | 183 |  | $ | 546,608 |

X
- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration