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SEGMENT REPORTING (Tables)

6 Months Ended

Sep. 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:

			Three months ended September 30, 2022
STATEMENTS OF OPERATIONS			Central Asia						Europe						U.S.						Middle East/Caucasus						Eliminations						Total
Fee and commission income (1)			$	19,067					$	73,006					$	1,050					$	—					$	—					$	93,123
Net gain on trading securities			15,828						(7,210)						387						—						—						9,005
Net realized gain on investments available for sale			716						—						—						—						—						716
Interest income			46,275						211						2,547						—						—						49,033
Insurance underwriting income			26,200						—						—						—						—						26,200
Net gain/(loss) on foreign exchange operations			7,601						(2,400)						(665)						19						—						4,555
Net loss on derivative			(2,320)						—						—						—						—						(2,320)
TOTAL REVENUE, NET			113,367						63,607						3,319						19						—						180,312
Fee and commission expense			11,812						6,474						144						9						—						18,439
Interest expense			34,562						2,964						3,337						—						—						40,863
Insurance claims incurred, net of reinsurance			17,475						—						—						—						—						17,475
Operating expense (2)			21,715						10,534						5,093						418						—						37,760
Provision for impairment losses/(recoveries)			3,732						(1)						(5)						—						—						3,726
Other expense/(income), net			94						101						(3)						—						—						192
TOTAL EXPENSE			89,390						20,072						8,566						427						—						118,455
INCOME/(LOSS) BEFORE INCOME TAX FROM CONTINUING OPERATIONS			$	23,977					$	43,535					$	(5,247)					$	(408)					$	—					$	61,857
Income tax (expense)/benefit			(534)						(6,623)						(5,472)						10						—						(12,619)
INCOME/(LOSS) FROM CONTINUING OPERATIONS			$	23,443					$	36,912					$	(10,719)					$	(398)					$	—					$	49,238

			Six months ended September 30, 2022
STATEMENTS OF OPERATIONS			Central Asia						Europe						U.S.						Middle East/Caucasus						Eliminations						Total
Fee and commission income (1)			$	28,259					$	157,040					$	2,184					$	—					$	—					$	187,483
Net gain/(loss) on trading securities			37,417						(22,634)						(1,344)						—						—						13,439
Net realized loss on investments available for sale			123						—						—						—						—						123
Interest income			85,185						508						6,989						—						—						92,682
Insurance underwriting income			50,440						—						—						—						—						50,440
Net gain/(loss) on foreign exchange operations			11,869						(1,830)						(899)						8						—						9,148
Net gain on derivative			(1,054)						—						—						—						—						(1,054)
TOTAL REVENUE, NET			212,239						133,084						6,930						8						—						352,261
Fee and commission expense			22,527						18,901						297						29						—						41,754
Interest expense			66,530						5,660						8,744						—						—						80,934
Insurance claims incurred, net of reinsurance			34,167						—						—						—						—						34,167
Operating expense			42,482						22,099						10,360						818						—						75,759
Provision for impairment losses/(recoveries)			6,164						(2)						(8)						—						—						6,154
Other (income)/expense, net			(407)						97						(8)						(50)						—						(368)
TOTAL EXPENSE			171,463						46,755						19,385						797						—						238,400
INCOME/(LOSS) BEFORE INCOME TAX FROM CONTINUING OPERATIONS			$	40,776					$	86,329					$	(12,455)					$	(789)					$	—					$	113,861
Income tax (expense)/benefit			(596)						(13,846)						(7,077)						21						—						(21,498)
INCOME/(LOSS) FROM CONTINUING OPERATIONS			$	40,180					$	72,483					$	(19,532)					$	(768)					$	—					$	92,363

			Three months ended September 30, 2021 (Recasted)
STATEMENTS OF OPERATIONS			Central Asia						Europe						U.S.						Middle East/Caucasus						Eliminations						Total
Fee and commission income			$	5,266					$	88,784					$	1,165					$	—					$	—					$	95,215
Net gain/(loss) on trading securities			2,756						178,951						(104)						—						—						181,603
Net realized loss on investments available for sale			(622)						—						—						—						—						(622)
Interest income			24,206						210						13						—						—						24,429
Insurance underwriting income			16,022						—						—						—						—						16,022
Net gain on foreign exchange operations			1,304						166						38						—						—						1,508
Net loss on derivative			(656)						—						—						—						—						(656)
TOTAL REVENUE, NET			48,276						268,111						1,112						—						—						317,499
Fee and commission expense			2,123						20,360						168						—						—						22,651
Interest expense			14,490						1,805						421						—						—						16,716
Insurance claims incurred, net of reinsurance			13,513						—						—						—						—						13,513
Operating expense			12,206						4,952						4,583						29						—						21,770
Provision for impairment losses			978						—						—						—						—						978
Other expense/(income), net			794						(8)						—						—						—						786
TOTAL EXPENSE			44,104						27,109						5,172						29						—						76,414
INCOME/(LOSS) BEFORE INCOME TAX FROM CONTINUING OPERATIONS			$	4,172					$	241,002					$	(4,060)					$	(29)					$	—					$	241,085
Income tax benefit/(expense)			135						(8,152)						(24,077)						—						—						(32,094)
INCOME/(LOSS) FROM CONTINUING OPERATIONS			$	4,307					$	232,850					$	(28,137)					$	(29)					$	—					$	208,991

			Six months ended September 30, 2021 (Recasted)
STATEMENTS OF OPERATIONS			Central Asia						Europe						U.S.						Middle East/Caucasus						Eliminations						Total
Fee and commission income			$	11,522					$	160,775					$	2,134					$	—					$	—					$	174,431
Net gain/(loss) on trading securities			11,698						178,993						(406)						—						—						190,285
Net realized loss on investments available for sale			(653)						—						—						—						—						(653)
Interest income			45,035						471						60						—						—						45,566
Income from insurance activity			30,098						—						—						—						—						30,098
Net gain/(loss) on foreign exchange operations			2,774						(60)						2						—						—						2,716
Net loss on derivative			(715)						—						—						—						—						(715)
TOTAL REVENUE, NET			99,759						340,179						1,790						—						—						441,728
Fee and commission expense			4,654						38,840						350						—						—						43,844
Interest expense			26,758						3,503						701						—						—						30,962
Expense from insurance activity			24,809						—						—						—						—						24,809
Operating expense			23,081						9,744						8,372						(6)						—						41,191
Provision for impairment losses			1,233						12						—						—						—						1,245
Other expense, net			800						(5)						—						—						—						795
TOTAL EXPENSE			81,335						52,094						9,423						(6)						—						142,846
INCOME/(LOSS) BEFORE INCOME TAX FROM CONTINUING OPERATIONS			$	18,424					$	288,085					$	(7,633)					$	6					$	—					$	298,882
Income tax benefit/(expense)			22						(14,014)						(23,228)						—						—						(37,220)
NET INCOME/(LOSS) FROM CONTINUING OPERATIONS			$	18,446					$	274,071					$	(30,861)					$	6					$	—					$	261,662

(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.

(2) Operating expense includes significant noncash items stock based compensation expenses. The following table summarizes the Company's stock based compensation by its geographic segments:

			Three Months Ended September 30,												Six Months Ended September 30,
			2022						2021*						2022						2021*
Central Asia			$	1,036					$	1,384					$	2,138					$	2,032
U.S.			533						691						1,152						1,045
Europe			135						196						291						288
Middle East/Caucasus			—						—						—						—
Total stock based compensation			$	1,704					$	2,271					$	3,581					$	3,365

The following tables summarize the Company's total asset and total liabilities by its geographic segments. Intercompany balances were eliminated for separate disclosure:

			September 30, 2022
			Central Asia						Europe						U.S.						Russia (Discontinued operations)						Middle East/Caucasus						Total
Total assets			$	2,837,687					$	685,110					$	143,833					$	1,115,615					$	2,120					$	4,784,365
Total liabilities			2,561,607						373,466						137,716						1,089,880						365						4,163,034
Net assets			$	276,080					$	311,644					$	6,117					$	25,735					$	1,755					$	621,331

			March 31, 2022 (Recasted)
			Central Asia						Europe						U.S.						Russia (Discontinued operations)						Middle East/Caucasus						Total
Total assets			$	1,423,539					$	805,768					$	172,679					$	825,409					$	355					$	3,227,750
Total liabilities			1,203,486						489,883						175,136						812,465						172						2,681,142
Net assets			$	220,053					$	315,885					$	(2,457)					$	12,944					$	183					$	546,608

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- 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

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- References

No definition available.

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