XML 47 R38.htm IDEA: XBRL DOCUMENT
v3.23.1

TRADING AND AVAILABLE-FOR-SALE SECURITIES AT FAIR VALUE (Tables) | 3 Months Ended
--- | ---
Dec. 31, 2021
Debt Securities, Trading, and Equity Securities, FV-NI [Abstract] |
Schedule of trading and available-for-sale securities | As of December 31, 2021, and March 31, 2021, trading and available-for-sale securities consisted of:
| December 31, 2021 |  | March 31, 2021
| (Recast) |  | (Recast)
Corporate debt | $ | 513,671 |  |  | $ | 301,898 |
Non-US sovereign debt | 395,667 |  |  | 239,630 |
Corporate equity | 22,149 |  |  | 39,280 |
Exchange traded notes | 9,386 |  |  | 2,077 |
US sovereign debt | 6,960 |  |  | 4,661 |
Total trading securities | $ | 947,833 |  |  | $ | 587,546 |
Equity securities | $ | 1 |  |  | $ | 1 |
Total available-for-sale securities, at fair value | $ | 1 |  |  | $ | 1 |
Schedule of present securities assets at fair value | The following tables present securities assets in the Condensed Consolidated Financial Statements or disclosed in the Notes to the Condensed Consolidated Financial Statements at fair value on a recurring basis as of December 31, 2021, and March 31, 2021:
| Weighted Average Interest Rate |  | Total |  | Fair Value Measurements at December 31, 2021 using (Recast)
|  |  | Quoted Prices in Active Markets for Identical Assets |  | Significant Other Observable Inputs |  | Significant Unobservable Units
|  |  | (Level 1) |  | (Level 2) |  | (Level 3)
Corporate debt | 8.80 | % |  | $ | 513,671 |  |  | $ | 512,887 |  |  | $ | 415 |  |  | $ | 369 |
Non-U.S. sovereign debt | 9.35 | % |  | 395,667 |  |  | 393,124 |  |  | 1,593 |  |  | 950 |
Corporate equity | — |  |  | 22,149 |  |  | 21,151 |  |  | 553 |  |  | 445 |
Exchange traded notes | — |  |  | 9,386 |  |  | 9,386 |  |  | — |  |  | — |
U.S. sovereign debt | 2 | % |  | 6,960 |  |  | 6,960 |  |  | — |  |  | — |
Total trading securities |  |  | $ | 947,833 |  |  | $ | 943,508 |  |  | $ | 2,561 |  |  | $ | 1,764 |
Equity securities | — |  |  | $ | 1 |  |  | $ | — |  |  | $ | — |  |  | $ | 1 |
Total available-for-sale securities, at fair value |  |  | $ | 1 |  |  | $ | — |  |  | $ | — |  |  | $ | 1 |
| Weighted Average Interest Rate |  | Total |  | Fair Value Measurements at March 31, 2021 using (Recast)
|  |  | Quoted Prices in Active Markets for Identical Assets |  | Significant Other Observable Inputs |  | Significant Unobservable Units
|  |  | (Level 1) |  | (Level 2) |  | (Level 3)
Non-U.S. sovereign debt | 8.06 | % |  | $ | 239,630 |  |  | $ | 239,630 |  |  | $ | — |  |  | $ | — |
Exchange traded notes | — |  |  | 2,077 |  |  | 2,077 |  |  | — |  |  | — |
Corporate debt | 9.22 | % |  | 301,898 |  |  | 301,538 |  |  | — |  |  | 360 |
Corporate equity | — |  |  | 39,280 |  |  | 20,607 |  |  | — |  |  | 18,673 |
U.S. sovereign debt | 1.68 | % |  | 4,661 |  |  | 4,661 |  |  | — |  |  | — |
Total trading securities |  |  | $ | 587,546 |  |  | $ | 568,513 |  |  | $ | — |  |  | $ | 19,033 |
Equity securities | — |  |  | $ | 1 |  |  | $ | — |  |  | $ | — |  |  | $ | 1 |
Total available-for-sale securities, at fair value |  |  | $ | 1 |  |  | $ | — |  |  | $ | — |  |  | $ | 1 |
Schedule of valuation techniques and significant level 3 inputs | The table below presents the valuation techniques and significant level 3 inputs used in the valuation as of December 31, 2021, and March 31, 2021. The table is not intended to be all inclusive, but instead captures the significant unobservable inputs relevant to determination of fair value.
Type |  | Valuation Technique |  | FV as of December 31, 2021 |  | FV as of March 31, 2021 |  | Significant Unobservable Inputs |  | %
|  |  |  | (Recast) |  | (Recast) |  |  |  |
Non-US sovereign debt |  | DCF |  | $ | 949 |  |  | $ | — |  |  | Discount rate |  | 13.8%
|  |  |  |  |  |  |  | Estimated number of years |  | 1 year
Corporate equity |  | DCF |  | $ | 446 |  |  | $ | 302 |  |  | Discount rate |  | 18.5%
|  |  |  |  |  |  |  | Estimated number of years |  | 9 years
Corporate debt |  | DCF |  | $ | 369 |  |  | $ | 360 |  |  | Discount rate |  | 16.5%
|  |  |  |  |  |  |  | Estimated number of years |  | 9 years
Corporate equity |  | DCF |  | $ | — |  |  | $ | 18,371 |  |  | Discount rate |  | 10.6%
|  |  |  |  |  |  |  | Estimated number of years |  | 9 years
Total |  |  |  | $ | 1,764 |  |  | $ | 19,033 |  |  |  |  |
As of December 31, 2021, shares of SPBX held by the Company were transferred from level 3 to level 1, due to active trades on the market. During the nine months ended December 31, 2021, market trades of SPBX shares were executed in the market, and market data for these shares became available. The following table provides a reconciliation of the beginning and ending balances for investments that use Level 3 inputs for the nine months ended December 31, 2021, and the year ended March 31, 2021:
| Trading securities |  | Available-for-sale securities
Balance as of March 31, 2021 (Recast) | $ | 19,033 |  |  | $ | 1 |
Reclassification to level 1 | (18,408) |  |  | — |
Redemption of securities that use Level 3 inputs | (1,030) |  |  | — |
Purchase of investments that use Level 3 inputs | 2,059 |  |  | — |
Revaluation of investments that use Level 3 inputs | 110 |  |  | — |
Balance as of December 31, 2021 (Recast) | 1,764 |  |  | 1 |
Balance as of March 31, 2020 (Recast) | $ | 11,259 |  |  | $ | 1 |
Sale of investments that use Level 3 inputs | (2) |  |  | — |
Purchase of investments that use Level 3 inputs | 739 |  |  | — |
Revaluation of investments that use Level 3 inputs | 7,037 |  |  | — |
Balance as of March 31, 2021 (Recast) | $ | 19,033 |  |  | $ | 1 |
Schedule of amortized cost, unrealized gains and losses accumulated in other comprehensive income, and fair value of available-for-sale securities | The table below presents the amortized cost, unrealized gains and losses accumulated in other comprehensive income, and fair value of available-for-sale securities as of December 31, 2021, and March 31, 2021:
| December 31, 2021 (Recast)
| Assets measured at amortized cost |  | Unrealized loss accumulated in other comprehensive income/(loss) |  | Assets measured at fair value
Equity securities | $ | 1 |  |  | $ | — |  |  | $ | 1 |
Balance as of December 31, 2021 | $ | 1 |  |  | $ | — |  |  | $ | 1 |
| March 31, 2021 (Recast)
| Assets measured at amortized cost |  | Unrealized loss accumulated in other comprehensive income/(loss) |  | Assets measured at fair value
Equity securities | $ | 1 |  |  | $ | — |  |  | $ | 1 |
Balance as of March 31, 2021 | $ | 1 |  |  | $ | — |  |  | $ | 1 |

X
- Definition Schedule of trading securities + References No definition available. + Details
Name: | frhc_ScheduleOfTradingSecuritiesTableTextBlock
Namespace Prefix: | frhc_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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

X
- Definition Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19279-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of data and information required in the supplementary schedule applicable to management investment companies listing holdings of unaffiliated investments. + References No definition available. + Details
Name: | us-gaap_InvestmentHoldingsScheduleOfInvestmentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation of available-for-sale securities from cost basis to fair value. + References No definition available. + Details
Name: | us-gaap_ScheduleOfAvailableForSaleSecuritiesReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration