XML 113 R74.htm IDEA: XBRL DOCUMENT v3.24.1.1.u2

SEGMENT REPORTING (Tables)

12 Months Ended

Mar. 31, 2024

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

The following tables summarize the Group's Statement of Operations by its reportable segments. There are no revenues from transactions between the segments and intercompany balances have been eliminated for separate disclosure:

			Year ended March 31, 2024
STATEMENTS OF OPERATIONS			Brokerage						Banking						Insurance						Other						Total
Fee and commission income			$	352,481					$	26,236					$	296					$	61,320					$	440,333
Net gain/(loss) on trading securities			33,483						87,459						14,114						(1,202)						133,854
Interest income			233,858						524,596						63,676						6,094						828,224
Insurance underwriting income			—						—						264,218						—						264,218
Net (loss)/gain on foreign exchange operations			(852)						78,174						(1,306)						(3,771)						72,245
Net (loss)/gain on derivative			(2,019)						(101,805)						—						30						(103,794)
TOTAL REVENUE, NET			616,951						614,660						340,998						62,471						1,635,080
Fee and commission expense			$	24,740					$	13,219					$	103,346					$	13,046					$	154,351
Interest expense			89,732						368,286						29,965						13,128						501,111
Insurance claims incurred, net of reinsurance			—						—						139,561						—						139,561
Payroll and bonuses			71,077						48,953						18,796						42,197						181,023
Professional services			6,977						527						561						26,173						34,238
Stock compensation expense			11,352						6,124						2,755						2,488						22,719
Advertising expense			25,353						4,828						789						7,357						38,327
General and administrative expense			40,847						30,804						5,413						43,824						120,888
Allowance for expected credit losses			2,962						16,399						942						922						21,225
Other income, net			(5,003)						(1,210)						(3,603)						(3,918)						(13,734)
TOTAL EXPENSE			268,037						487,930						298,525						145,217						1,199,709
INCOME/(LOSS) BEFORE INCOME TAX FROM CONTINUING OPERATIONS			$	348,914					$	126,730					$	42,473					$	(82,746)					$	435,371
Income tax expense			(51,158)						(15,857)						(8,662)						15,258						(60,419)
NET INCOME/(LOSS) FROM CONTINUING OPERATIONS			$	297,756					$	110,873					$	33,811					$	(67,488)					$	374,952

			Year ended March 31, 2023
STATEMENTS OF OPERATIONS			Brokerage						Banking						Insurance						Other						Total
Fee and commission income			$	299,070					$	18,208					$	128					$	9,809					$	327,215
Net gain/(loss) on trading securities			20,736						55,437						16,063						(21,152)						71,084
Interest income			64,654						177,561						41,007						11,473						294,695
Insurance underwriting income			—						—						115,371						—						115,371
Net (loss)/gain on foreign exchange operations			(347)						59,190						(1,846)						(4,843)						52,154
Net gain/(loss) on derivative			463						(65,291)						—						2						(64,826)
TOTAL REVENUE, NET			384,576						245,105						170,723						(4,711)						795,693
Fee and commission expense			33,126						9,097						22,824						613						65,660
Interest expense			43,089						130,693						18,492						16,673						208,947
Insurance claims incurred, net of reinsurance			1						—						77,328						—						77,329
Payroll and bonuses			37,583						21,749						11,733						10,754						81,819
Professional services			4,978						466						580						10,982						17,006
Stock compensation expense			5,648						372						279						2,994						9,293
Advertising expense			9,063						3,251						1,191						554						14,059
General and administrative expense			32,906						13,671						5,024						8,370						59,971
Allowance for expected credit losses			16,911						8,773						1,071						2,364						29,119
Other (income)/expense, net			(904)						(230)						(2,346)						32						(3,448)
TOTAL EXPENSE			182,401						187,842						136,176						53,336						559,755
INCOME/(LOSS) BEFORE INCOME TAX FROM CONTINUING OPERATIONS			$	202,175					$	57,263					$	34,547					$	(58,047)					$	235,938
Income tax (expense)/benefit			(32,632)						(7,832)						(5,106)						2,794						(42,776)
INCOME/(LOSS) FROM CONTINUING OPERATIONS			$	169,543					$	49,431					$	29,441					$	(55,253)					$	193,162

			Year ended March 31, 2022
STATEMENTS OF OPERATIONS			Brokerage						Banking						Insurance						Other						Total
Fee and commission income			$	327,052					$	7,000					$	83					$	1,076					$	335,211
Net gain/(loss) on trading securities			32,376						19,204						(1,093)						104,765						155,252
Interest income			35,204						54,438						31,455						512						121,609
Insurance underwriting income			—						—						72,981						—						72,981
Net gain/(loss) on foreign exchange operations			1,249						2,439						1,812						(1,709)						3,791
Net (loss)/gain on derivative			(319)						1,265						—						—						946
TOTAL REVENUE, NET			395,562						84,346						105,238						104,644						689,790
Fee and commission expense			67,005						5,849						12,666						389						85,909
Interest expense			20,934						42,429						11,498						2,086						76,947
Insurance claims incurred, net of reinsurance			—						—						54,447						—						54,447
Payroll and bonuses			25,838						9,387						6,510						4,553						46,288
Professional services			2,885						749						558						8,490						12,682
Stock compensation expense			4,190						314						236						3,119						7,859
Advertising expense			9,647						378						1,857						34						11,916
General and administrative expense			11,970						4,840						4,788						1,935						23,533
Allowance for expected credit losses			89						2,120						293						—						2,502
Other (income)/expense, net			(110)						539						2,702						883						4,014
TOTAL EXPENSE			142,448						66,605						95,555						21,489						326,097
INCOME BEFORE INCOME TAX FROM CONTINUING OPERATIONS			$	253,114					$	17,741					$	9,683					$	83,155					$	363,693
Income tax expense			(27,810)						(655)						(41)						(10,064)						(38,570)
INCOME FROM CONTINUING OPERATIONS			$	225,304					$	17,086					$	9,642					$	73,091					$	325,123

The following tables summarize the Company's total assets and total liabilities by its business segments. Intercompany balances have been eliminated for separate disclosure:

			March 31, 2024
			Brokerage						Banking						Insurance						Other						Total
Total assets			$	2,586,803					$	4,939,626					$	529,517					$	245,984					$	8,301,930
Total liabilities			1,973,887						4,389,745						402,865						368,475						7,134,972
Net assets			$	612,916					$	549,881					$	126,652					$	(122,491)					$	1,166,958

			March 31, 2023
			Brokerage						Banking						Insurance						Other						Total
Total assets			$	1,212,163					$	3,248,245					$	470,337					$	153,813					$	5,084,558
Total liabilities			1,024,888						2,769,981						385,952						133,001						4,313,822
Net assets			$	187,275					$	478,264					$	84,385					$	20,812					$	770,736

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
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-25

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

+ 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