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BUSINESS SEGMENTS
 9 Months Ended
Sep. 30, 2024
Segment Reporting [Abstract]  
BUSINESS SEGMENTS BUSINESS SEGMENTS
The Company’s business is classified into five reportable operating segments: the Capital Markets segment, Wealth Management segment, Financial Consulting segment, Communications segment, and Consumer Products segment. These reportable segments are all distinct businesses, each with a different marketing strategy and management structure. During the fourth quarter of 2023, management reassessed the Company's previously reported Consumer segment due to organizational changes and financial information provided to the CODM. These changes resulted in Targus’ operations being reported on a stand alone basis in the Consumer Products segment and the operations related to brand licensing that was previously reported in the Consumer segment being reported in the All Other Category that is reported with Corporate and Other. The Great American Group discontinued operations, as discussed in Note 4, resulted in changes to the Financial Consulting segment and the elimination of the Auction and Liquidation segment as of September 30, 2024.
As a result of the changes discussed above, the Company has recast the financial data for the segments and reporting of the All Other Category for all periods presented. The following is a summary of certain financial data for each of the Company’s reportable segments:
Three Months Ended
September 30,		Nine Months Ended
September 30,
2024202320242023
Capital Markets segment:
Revenues - Services and fees$30,437 $80,913 $141,026 $183,803 
Trading (loss) income(1,908)(10,217)(52,787)29,488 
Fair value adjustment on loans(71,477)(860)(259,260)51,623 
Interest income - loans11,251 27,397 51,894 102,535 
Interest income - securities lending7,007 42,333 69,614 119,580 
Total revenues(24,690)139,566 (49,513)487,029 
Selling, general and administrative expenses(30,453)(62,898)(133,483)(174,479)
Impairment of tradenames— — — (1,733)
Interest expense - Securities lending and loan participations sold(6,359)(38,368)(65,055)(106,572)
Depreciation and amortization(817)(900)(2,333)(3,149)
Segment (loss) income(62,319)37,400 (250,384)201,096 
Wealth Management segment:    
Revenues - Services and fees49,389 50,875 150,153 146,660 
Trading income670 490 2,561 2,235 
Total revenues50,059 51,365 152,714 148,895 
Selling, general and administrative expenses(48,234)(47,891)(145,439)(143,177)
Restructuring charge— — — (61)
Depreciation and amortization(1,045)(1,075)(3,148)(3,243)
Segment income (loss)780 2,399 4,127 2,414 
Financial Consulting segment:    
Revenues - Services and fees23,941 20,225 69,383 52,325 
Selling, general and administrative expenses(19,705)(17,843)(56,277)(42,932)
Depreciation and amortization(108)(82)(276)(234)
Segment income4,128 2,300 12,830 9,159 
Communications segment:    
Revenues - Services and fees66,241 82,155 225,055 250,523 
Revenues - Sale of goods1,318 1,638 4,079 5,145 
Total revenues67,559 83,793 229,134 255,668 
Direct cost of services(36,253)(46,012)(131,346)(136,830)
Cost of goods sold(1,350)(1,750)(4,323)(5,964)
Selling, general and administrative expenses(16,665)(21,655)(54,136)(64,440)
Restructuring charge(116)(145)(379)(402)
Depreciation and amortization(4,868)(6,739)(16,750)(19,775)
Segment income8,307 7,492 22,200 28,257 
Consumer Products segment:    
Revenues - Sale of goods49,793 58,391 152,739 179,156 
Cost of goods sold(36,406)(40,467)(109,270)(123,526)
Selling, general and administrative expenses(14,959)(16,214)(45,602)(51,990)
Depreciation and amortization(1,934)(2,595)(5,862)(7,784)
Restructuring charge— (83)(546)(486)
Impairment of goodwill and tradenames— (35,500)(27,681)(35,500)
Segment loss(3,506)(36,468)(36,222)(40,130)
Consolidated operating (loss) income from reportable segments(52,610)13,123 (247,449)200,796 
All Other:
Revenues - Services and fees28,506 9,928 75,329 28,870 
Revenues - Sale of goods4,137 — 7,436 — 
Total revenues32,643 9,928 82,765 28,870 
Direct cost of services(13,406)(6,604)(36,662)(19,543)
Cost of goods sold(2,556)— (5,304)— 
Corporate and other expenses(45,817)(24,429)(114,071)(68,761)
Interest income1,438 180 2,909 3,455 
Dividend income675 3,373 4,139 9,541 
Realized and unrealized (losses) gains on investments(22,197)(77,287)(212,362)(77,020)
Change in fair value of financial instruments and other476 (4,170)627 (3,998)
Income from equity investments6 (308)12 (175)
Interest expense(32,996)(37,493)(102,195)(118,630)
Loss from continuing operations before income taxes(134,344)(123,687)(627,591)(45,465)
Provision for income taxes(14,508)23,638 (17,915)(3,045)
Loss from continuing operations(148,852)(100,049)(645,506)(48,510)
(Loss) income from discontinued operations, net of income taxes(138,746)23,741 (123,827)32,543 
Net loss(287,598)(76,308)(769,333)(15,967)
Net income (loss) attributable to noncontrolling interests and redeemable noncontrolling interests(3,201)(2,485)(2,167)(5,680)
Net (loss) income attributable to B. Riley Financial, Inc.(284,397)(73,823)(767,166)(10,287)
Preferred stock dividends2,015 2,015 6,045 6,042 
Net (loss) income available to common shareholders$(286,412)$(75,838)$(773,211)$(16,329)
The following table presents revenues by geographical area:
Three Months Ended
September 30,
Nine Months Ended
September 30,
2024202320242023
Revenues
Services and fees
North America$198,514 $244,096 $660,946 $662,181 
   
Trading (loss) income   
North America(1,238)(9,727)(50,226)31,723 
  
Fair value adjustments on loans
North America(71,477)(860)(259,260)51,623 
Interest income - loans  
North America11,251 27,397 51,894 102,535 
Interest income - securities lending
North America7,007 42,333 69,614 119,580 
Sale of goods
North America30,218 31,068 87,984 98,422 
Australia2,735 2,394 9,196 9,023 
Europe, Middle East, and Africa14,556 17,162 41,508 49,896 
Asia5,540 7,224 18,674 19,765 
Latin America2,199 2,181 6,892 7,195 
Total - Sale of goods55,248 60,029 164,254 184,301 
  
Total Revenues  
North America174,275 334,307 560,952 1,066,064 
Australia2,735 2,394 9,196 9,023 
Europe, Middle East, and Africa14,556 17,162 41,508 49,896 
Asia5,540 7,224 18,674 19,765 
Latin America2,199 2,181 6,892 7,195 
Total Revenues$199,305 $363,268 $637,222 $1,151,943 
The following table presents long-lived assets, which consists of property and equipment, net, by geographical area:
September 30, 2024December 31, 2023
Long-lived Assets - Property and Equipment, net:
North America$43,001 $24,594 
Europe262 396 
Asia Pacific96 133 
Australia63 83 
Total$43,422 $25,206 
Segment assets are not reported to, or used by, the Company’s Chief Operating Decision Maker to allocate resources to, or assess performance of the segments and therefore, total segment assets have not been disclosed.