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v3.23.3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 6 Months Ended
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Sep. 30, 2023
Accounting Policies [Abstract] |
VIE, consolidated statements | The carrying amounts of Freedom UA’s consolidated assets and liabilities were as follows as of March 31, 2023:
|  | March 31, 2023
Cash and cash equivalents |  | 26 |
Restricted cash |  | 1,936 |
Trading securities |  | 4,010 |
Margin lending, brokerage and other receivables, net |  | 1,616 |
Fixed assets, net |  | 782 |
Intangible assets, net |  | 131 |
Right-of-use asset |  | 135 |
Other assets |  | 56 |
Total assets |  | 8,692 |
Customer liabilities |  | 5,837 |
Securities repurchase agreement obligations |  | 12 |
Trade payables |  | 25 |
Lease liability |  | 159 |
Other liabilities |  | 298 |
Total liabilities |  | 6,331 |
Schedule of changes in the carrying amount of goodwill | The changes in the carrying amount of goodwill for the three months ended September 30, 2023 and the year ended March 31, 2023, were as follows:
| Central Asia and Eastern Europe |  | Europe, excluding Eastern Europe |  | US |  | Middle East/ Caucasus |  | Total
Goodwill, gross |  |  |  |  |  |  |  |  |
Balance as of March 31, 2022 | $ | 5,104 |  |  | $ | — |  |  | $ | 1,626 |  |  | $ | — |  |  | $ | 6,730 |
Forex | 438 |  |  | — |  |  | — |  |  | — |  |  | 438 |
Acquired | 3,176 |  |  | — |  |  | — |  |  | — |  |  | 3,176 |
Balance as of September 30, 2022 | 8,718 |  |  | — |  |  | 1,626 |  |  | — |  |  | 10,344 |
Balance as of March 31, 2023 | $ | 6,792 |  |  | $ | — |  |  | $ | 7,400 |  |  | $ | — |  |  | $ | 14,192 |
Forex | 43 |  |  | — |  |  | — |  |  | — |  |  | 43 |
Acquired | 37,320 |  |  | — |  |  | — |  |  | — |  |  | 37,320 |
Balance as of September 30, 2023 | 44,155 |  |  | — |  |  | 7,400 |  |  | — |  |  | 51,555 |
Accumulated impairment |  |  |  |  |  |  |  |  |
Balance as of March 31, 2022 | $ | 832 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 832 |
Impairment expense | — |  |  | — |  |  | — |  |  | — |  |  | — |
Balance as of September 30, 2022 | 832 |  |  | — |  |  | — |  |  | — |  |  | 832 |
Balance as of March 31, 2023 | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Impairment expense | — |  |  | — |  |  | — |  |  | — |  |  | — |
Balance as of September 30, 2023 | — |  |  | — |  |  | — |  |  | — |  |  | — |
Goodwill, net of impairment |  |  |  |  |  |  |  |  |
Balance as of September 30, 2022 | $ | 7,886 |  |  | $ | — |  |  | $ | 1,626 |  |  | $ | — |  |  | $ | 9,512 |
Balance as of March 31, 2023 | $ | 6,792 |  |  | $ | — |  |  | $ | 7,400 |  |  | $ | — |  |  | $ | 14,192 |
Balance as of September 30, 2023 | $ | 44,155 |  |  | $ | — |  |  | $ | 7,400 |  |  | $ | — |  |  | $ | 51,555 |
Revision of prior period statements | The following table illustrates the impact of ASC 326.
| March 31, 2023 |  | ASC 326 Adoption Impact |  | April 1, 2023
Allowance for credit losses for loans |  |  |  |  |
Mortgage loans | $ | 554 |  |  | $ | 2,216 |  |  | $ | 2,770 |
Car loans | $ | 759 |  |  | $ | 6,462 |  |  | $ | 7,221 |
Collateralized bank customer loans | $ | — |  |  | $ | 35 |  |  | $ | 35 |
Uncollateralized banks customer loans | $ | 233 |  |  | $ | 7,436 |  |  | $ | 7,669 |
Right of claim for purchased retail loans | 1,246 |  |  | 9,046 |  |  | 10,292 |
Allowance for credit losses for other financial assets | — |  |  | 249 |  |  | 249 |
Total allowance for credit losses | $ | 2,792 |  |  | $ | 25,444 |  |  | $ | 28,236 |
Retained earnings |  |  |  |  |
Total allowance increase |  |  | $ | 25,444 |  |  |
Decrease to retained earnings, pre-tax |  |  | $ | 25,444 |  |  |
Tax effect |  |  | $ | (2,671) |  |  |
Forex effect |  |  | $ | (1) |  |  |
Decrease to retained earnings, net of tax effect |  |  | $ | 22,772 |  |  |

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