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EARNINGS PER SHARE | 9 Months Ended
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Sep. 30, 2024
Earnings Per Share [Abstract] |
EARNINGS PER SHARE | EARNINGS PER SHARE Basic earnings per share is calculated by dividing (loss) income from continuing operations, (loss) income from discontinued operations, or net income (loss) by the weighted-average number of shares outstanding during the period. Diluted earnings per share is calculated by dividing (loss) income from continuing operations, (loss) income from discontinued operations, or net income (loss) by the weighted-average number of common shares outstanding, after giving effect to all dilutive potential common shares outstanding during the period. Remeasurements to the carrying value of the redeemable noncontrolling interests in equity of subsidiaries are not deemed to be a dividend. According to ASC 480 - Distinguishing Liabilities from Equity, there is no impact on earnings per share in the computation of basic and diluted earnings per share to common shareholders for changes in the carrying value of the redeemable noncontrolling interests in equity, when such changes in carrying value which in substance approximates fair value. Potential common shares that were not included in the computation of diluted loss per share because the effect was antidilutive was 2,637,588 as of September 30, 2024. Securities that could potentially dilute basic net income per share in the future that were not included in the computation of diluted net income per share as the effect would be anti-dilutive were 1,169,913 and 1,718,209 during the three and nine months ended September 30, 2023, respectively, because to do so would have been anti-dilutive. Basic and diluted earnings per share were calculated as follows:
| Three Months Ended September 30,
| 2024 |  | 2023
| Continuing Operations |  | Discontinued Operations |  | Total |  | Continuing Operations |  | Discontinued Operations |  | Total
Net (loss) income | $ | (148,852) |  |  | $ | (138,746) |  |  | $ | (287,598) |  |  | $ | (100,049) |  |  | $ | 23,741 |  |  | $ | (76,308) |
Net income (loss) attributable to noncontrolling interests and redeemable noncontrolling interests | 624 |  |  | (3,825) |  |  | (3,201) |  |  | (3,192) |  |  | 707 |  |  | (2,485) |
Net (loss) income attributable to B. Riley Financial, Inc. | (149,476) |  |  | (134,921) |  |  | (284,397) |  |  | (96,857) |  |  | 23,034 |  |  | (73,823) |
Preferred stock dividends | 2,015 |  |  | — |  |  | 2,015 |  |  | 2,015 |  |  | — |  |  | 2,015 |
Net (loss) income available to common shareholders | $ | (151,491) |  |  | $ | (134,921) |  |  | $ | (286,412) |  |  | $ | (98,872) |  |  | $ | 23,034 |  |  | $ | (75,838) |
| Nine Months Ended September 30,
| 2024 |  | 2023
| Continuing Operations |  | Discontinued Operations |  | Total |  | Continuing Operations |  | Discontinued Operations |  | Total
Net (loss) income | $ | (645,506) |  |  | $ | (123,827) |  |  | $ | (769,333) |  |  | $ | (48,510) |  |  | $ | 32,543 |  |  | $ | (15,967) |
Net (loss) income attributable to noncontrolling interests and redeemable noncontrolling interests | (397) |  |  | (1,770) |  |  | (2,167) |  |  | (8,049) |  |  | 2,369 |  |  | (5,680) |
Net (loss) income attributable to B. Riley Financial, Inc. | (645,109) |  |  | (122,057) |  |  | (767,166) |  |  | (40,461) |  |  | 30,174 |  |  | (10,287) |
Preferred stock dividends | 6,045 |  |  | — |  |  | 6,045 |  |  | 6,042 |  |  | — |  |  | 6,042 |
Net (loss) income available to common shareholders | $ | (651,154) |  |  | $ | (122,057) |  |  | $ | (773,211) |  |  | $ | (46,503) |  |  | $ | 30,174 |  |  | $ | (16,329) |
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Weighted average common shares outstanding: |  |  |  |  |  |  |
Basic | 30,499,931 |  |  | 29,961,068 |  |  | 30,281,324 |  |  | 28,933,546 |
Effect of dilutive potential common shares: |  |  |  |  |  |  |
Restricted stock units and warrants | — |  |  | — |  |  | — |  |  | — |
Diluted | 30,499,931 |  |  | 29,961,068 |  |  | 30,281,324 |  |  | 28,933,546 |
Basic net (loss) income per common share: |  |  |  |  |  |  |
Continuing operations | $ | (4.97) |  |  | $ | (3.30) |  |  | $ | (21.50) |  |  | $ | (1.61) |
Discontinued operations | (4.42) |  |  | 0.77 |  |  | (4.03) |  |  | 1.05 |
Basic (loss) income per common share | $ | (9.39) |  |  | $ | (2.53) |  |  | $ | (25.53) |  |  | $ | (0.56) |
Diluted net (loss) income per common share: |  |  |  |  |  |  |
Continuing operations | $ | (4.97) |  |  | $ | (3.30) |  |  | $ | (21.50) |  |  | $ | (1.61) |
Discontinued operations | (4.42) |  |  | 0.77 |  |  | (4.03) |  |  | 1.05 |
Diluted (loss) income per common share | $ | (9.39) |  |  | $ | (2.53) |  |  | $ | (25.53) |  |  | $ | (0.56) |

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