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Discontinued Operations (Tables)
 6 Months Ended
Sep. 30, 2022
Discontinued Operations and Disposal Groups [Abstract]  
Disposal Groups, including discontinued operations The major classes of assets and liabilities from discontinued operations included the following:
September 30, 2022
March 31, 2022
Cash and cash equivalents$712,116 $428,480 
Restricted cash19,040 28,406 
Trading securities120,162 122,497 
Brokerage and other receivables, net249,980 210,087 
Loans issued14,464 2,395 
Other assets41,317 33,554 
Less: valuation allowance(41,464)— 
Total assets held for sale$1,115,615 $825,419 
Customer liabilities$966,869 $701,584 
Securities repurchase agreement obligations30,961 32,469 
Debt securities issued64,647 64,637 
Other liabilities27,403 13,788 
Total liabilities held for sale1,089,880 812,478 


The results of operations for discontinued operations consist of the following:

For The Three Months EndedFor The Six Months Ended
September 30, 2022
September 30, 2021
September 30, 2022
September 30, 2021
Fee and commission income$17,395 $19,432 $48,060 $36,450 
Net gain/(loss) on trading securities1,950 (5,164)13,099 (3,105)
Interest income17,440 5,114 29,861 9,788 
Net gain/(loss) on foreign exchange operations19,989 (3)20,414 (2,235)
TOTAL REVENUE, NET56,774 19,379 111,434 40,898 
Fee and commission expense2,324 2,159 4,250 4,226 
Interest expense4,261 2,210 10,019 4,459 
Operating expense26,072 17,764 53,540 31,587 
Provision for impairment losses212 50 582 76 
Provision for impairment of discontinued operations 41,464 — 41,464 — 
Other expense/(income), net743 (25)779 92 
TOTAL EXPENSE75,076 22,158 110,634 40,440 
INCOME/(LOSS) BEFORE INCOME TAX$(18,302)$(2,779)$800 $458 




The net cash flows from/(used in) operating and investing activities for discontinued operations consist of the following:
For the Six Months Ended September 30,
20222021*
(Recasted)
Cash Flows From Operating Activities
Net income from discontinued operations$(6,080)$449 
Adjustments to reconcile net income used in operating activities:
Depreciation and amortization1,143 993 
Noncash lease expense3,289 2,453 
Change in deferred taxes6,234 (929)
Stock compensation expense3,220 3,358 
Unrealized loss/(gain) on trading securities(20,382)4,228 
Net change in accrued interest682 (1,203)
Provision for impairment of discontinued operations 41,464 — 
Allowances for receivables155 — 
Changes in operating assets and liabilities:
Trading securities81,229 (24,850)
Brokerage and other receivables56,513 (59,162)
Other assets360 (843)
Securities sold, not yet purchased – at fair value244 (24)
Customer liabilities(142,647)81,632 
Current income tax liability— (582)
Trade payables93 2,725 
Lease liabilities(3,721)(2,603)
Other liabilities7,787 (37)
Net cash flows used in operating activities from discontinued operations29,583 5,605 
Cash Flows Used In Investing Activities
Purchase of fixed assets(2,560)(1,066)
Proceeds from sale of fixed assets750 — 
Loans issued(10,263)595 
Net cash flows used in investing activities from discontinued operations(12,073)(471)






















The following table presents reconciliation of anticipated provision for impairment from sale of net assets held for sale as of disposal date:
September 30, 2022
Pre-elimination balance EliminationsPost-elimination balance
Cash and cash equivalents$712,116 $— $712,116 
Restricted cash19,040 — 19,040 
Trading securities120,162 — 120,162 
Brokerage and other receivables, net249,980 — 249,980 
Loans issued14,464 — 14,464 
Other assets41,363 (46)41,317 
Investment in subsidiaries114,957 (114,957)— 
Total assets held for sale$1,272,082 $(115,003)$1,157,079 
Customer liabilities$966,869 $— $966,869 
Securities repurchase agreement obligations30,961 — 30,961 
Debt securities issued64,647 — 64,647 
Other liabilities27,499 (96)27,403 
Total liabilities held for sale$1,089,976 $(96)$1,089,880 
Net assets held for sale$182,106 $67,199 
Unrealized gain from cumulative translation adjustment(642)
Adjusted net assets held for sale$181,464 
Expected selling price140,000 
Provision for impairment of discontinued operations$(41,464)