XML 52 R36.htm IDEA: XBRL DOCUMENT
v3.25.3

DISCONTINUED OPERATIONS AND ASSETS HELD FOR SALE (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2025
Discontinued Operations and Disposal Groups [Abstract] |
Schedule of Disposal Groups, Including Discontinued Operations | Assets and liabilities held for sale consist of the following:
|  | As of March 31, 2025
|  | Wealth |  |  |  |
|  | Management |  |  |  |
Assets Held for Sale |  |  |  |  |  |
Prepaid expenses and other assets |  | $ | 3,477 |  |  |  |  |
Operating lease right-of-use assets |  | 394 |  |  |  |  |
Property and equipment, net |  | 67 |  |  |  |  |
Goodwill |  | 13,861 |  |  |  |  |
Other intangible assets, net |  | 2,326 |  |  |  |  |
Total assets held for sale |  | $ | 20,125 |  |  |  |  |
Liabilities Held for Sale |  |  |  |  |  |
Operating lease liabilities |  | 419 |  |  |  |  |
Total liabilities held for sale |  | $ | 419 |  |  |  |  |
|  | As of December 31, 2024
|  |  |  | Atlantic |  |
|  | Wealth |  | Coast |  |
|  | Management |  | Recycling |  | Total
Assets Held for Sale |  |  |  |  |  |
Cash and cash equivalents |  | $ | — |  |  | $ | 1,324 |  |  | $ | 1,324 |
Accounts receivable, net of allowance of $18 |  | — |  |  | 3,698 |  |  | 3,698 |
Prepaid expenses and other assets |  | 3,704 |  |  | 2,427 |  |  | 6,131 |
Operating lease right-of-use assets |  | 512 |  |  | 21,127 |  |  | 21,639 |
Property and equipment, net |  | 71 |  |  | 22,799 |  |  | 22,870 |
Goodwill |  | 13,861 |  |  | 3,280 |  |  | 17,141 |
Other intangible assets, net |  | 2,678 |  |  | 9,242 |  |  | 11,920 |
Total assets held for sale |  | $ | 20,826 |  |  | $ | 63,897 |  |  | $ | 84,723 |
Liabilities Held for Sale |  |  |  |  |  |
Accounts payable |  | $ | — |  |  | $ | 1,410 |  |  | $ | 1,410 |
Accrued expenses and other liabilities |  | — |  |  | 13,290 |  |  | 13,290 |
Operating lease liabilities |  | 525 |  |  | 24,371 |  |  | 24,896 |
Notes payable |  | — |  |  | 1,909 |  |  | 1,909 |
Total liabilities held for sale |  | $ | 525 |  |  | $ | 40,980 |  |  | $ | 41,505 |
The major classes of assets and liabilities included in discontinued operations were as follows:
|  | GlassRatner & Farber
|  | March 31, 2025 |  | December 31, 2024
Assets: |  |  |  |
Cash and cash equivalents |  | $ | 3,369 |  |  | $ | 8,025 |
Accounts receivable, net |  | 18,947 |  |  | 19,704 |
Prepaid expenses and other assets |  | 9,529 |  |  | 9,222 |
Operating lease right-of-use assets |  | 1,950 |  |  | 2,258 |
Property and equipment, net |  | 226 |  |  | 275 |
Goodwill |  | 30,458 |  |  | 30,450 |
Other intangible assets, net |  | 395 |  |  | 439 |
Total assets |  | $ | 64,874 |  |  | $ | 70,373 |
Liabilities: |  |  |  |
Accounts payable |  | $ | 1,112 |  |  | $ | 1,326 |
Accrued expenses and other liabilities |  | 12,667 |  |  | 14,359 |
Deferred revenue |  | 40 |  |  | 5 |
Contingent consideration |  | 3,093 |  |  | 3,092 |
Operating lease liabilities |  | 2,201 |  |  | 2,539 |
Total liabilities |  | $ | 19,113 |  |  | $ | 21,321 |
Revenues and income (loss) from discontinued operations for the three months ended March 31, 2025 and 2024 were as follows (in thousands):
|  |  | Three Months Ended |  |
|  |  | March 31, 2025 |  |
|  |  | GlassRatner & Farber |  |
Revenues: |  |  |  |  |
Services and fees |  |  | $ | 21,110 |  |  |
Operating expenses: |  |  |  |  |
Selling, general and administrative expenses |  |  | 17,613 |  |  |
Operating income |  |  | 3,497 |  |  |
Other income (expense): |  |  |  |  |
Interest income |  |  | 3 |  |  |
Income from discontinued operations before income taxes |  |  | 3,500 |  |  |
Provision for income taxes |  |  | (105) |  |  |
Income from discontinued operations, net of income taxes |  |  | $ | 3,395 |  |  |
|  |  | Three Months Ended March 31, 2024 |  |
|  |  | Brands Transaction |  |  |  | Great American Group |  | GlassRatner & Farber |  |  |  | Total |  |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Services and fees |  |  | $ | 4,577 |  |  |  |  | $ | 16,006 |  |  | $ | 22,639 |  |  |  |  | $ | 43,222 |  |  |
Sale of goods |  |  | — |  |  |  |  | 2,220 |  |  | — |  |  |  |  | 2,220 |  |  |
Total revenues |  |  | 4,577 |  |  |  |  | 18,226 |  |  | 22,639 |  |  |  |  | 45,442 |  |  |
Operating expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Direct cost of services |  |  | — |  |  |  |  | 1,456 |  |  | — |  |  |  |  | 1,456 |  |  |
Cost of goods sold |  |  | — |  |  |  |  | 788 |  |  | — |  |  |  |  | 788 |  |  |
Selling, general and administrative expenses |  |  | 854 |  |  |  |  | 11,795 |  |  | 17,959 |  |  |  |  | 30,608 |  |  |
Total operating expenses |  |  | 854 |  |  |  |  | 14,039 |  |  | 17,959 |  |  |  |  | 32,852 |  |  |
Operating income |  |  | 3,723 |  |  |  |  | 4,187 |  |  | 4,680 |  |  |  |  | 12,590 |  |  |
Other income (expense): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income |  |  | — |  |  |  |  | 1 |  |  | 5 |  |  |  |  | 6 |  |  |
Dividend income |  |  | 8,811 |  |  |  |  | — |  |  | — |  |  |  |  | 8,811 |  |  |
Realized and unrealized gains on investments |  |  | 5,379 |  |  |  |  | — |  |  | — |  |  |  |  | 5,379 |  |  |
Interest expense |  |  | (713) |  |  |  |  | (8,486) |  |  | — |  |  |  |  | (9,199) |  |  |
Income (loss) from discontinued operations before income taxes |  |  | 17,200 |  |  |  |  | (4,298) |  |  | 4,685 |  |  |  |  | 17,587 |  |  |
(Provision for) benefit from income taxes |  |  | (4,077) |  |  |  |  | 1,143 |  |  | (1,306) |  |  |  |  | (4,240) |  |  |
Income (loss) from discontinued operations, net of income taxes |  |  | $ | 13,123 |  |  |  |  | $ | (3,155) |  |  | $ | 3,379 |  |  |  |  | $ | 13,347 |  |  |
Cash flows from discontinued operations were as follows:
| Three Months Ended March 31,
| 2025 |  | 2024
Net cash from discontinued operations provided by (used in): |  |  |
Operating activities | $ | 925 |  |  | $ | 4,915 |
Investing activities | — |  |  | — |
Financing activities | (5,594) |  |  | (7,113) |
Effect of foreign currency on cash | 13 |  |  | (2,338) |
Net decrease in cash and cash equivalents | $ | (4,656) |  |  | $ | (4,536) |
Schedule of Supplemental Disclosures from Cash Flows | Supplemental disclosures from cash flows were as follows:
| Three Months Ended March 31,
| 2025 |  | 2024
Interest paid - Continuing Operations | $ | 28,982 |  | $ | 73,269
Interest paid - Discontinued Operations | — |  | 8,468
Interest paid - Total | $ | 28,982 |  | $ | 81,737
Taxes paid - Continuing Operations | $ | 932 |  | $ | 715
Taxes paid - Discontinued Operations | — |  | 717
Taxes paid - Total | $ | 932 |  | $ | 1,432

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

X
- Definition Tabular disclosure of supplemental cash flow information for the periods presented. + References No definition available. + Details
Name: | us-gaap_ScheduleOfCashFlowSupplementalDisclosuresTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 3 -SubTopic 10 -Topic 360 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482099/360-10-50-3 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 360 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3A -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482099/360-10-50-3A Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 360 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3A -Subparagraph (b)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482099/360-10-50-3A Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Section 45 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483475/205-20-45-11 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 3A -Publisher FASB -URI https://asc.fasb.org/1943274/2147483499/205-20-50-3A Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4A -Publisher FASB -URI https://asc.fasb.org/1943274/2147483499/205-20-50-4A Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4B -Publisher FASB -URI https://asc.fasb.org/1943274/2147483499/205-20-50-4B Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 5A -Publisher FASB -URI https://asc.fasb.org/1943274/2147483499/205-20-50-5A Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 5B -Publisher FASB -URI https://asc.fasb.org/1943274/2147483499/205-20-50-5B Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 5C -Publisher FASB -URI https://asc.fasb.org/1943274/2147483499/205-20-50-5C Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 5D -Publisher FASB -URI https://asc.fasb.org/1943274/2147483499/205-20-50-5D Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483499/205-20-50-7 Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482099/360-10-50-3A Reference 14: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 20 -Topic 205 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483499/205-20-50-1 Reference 15: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483499/205-20-50-3 + Details
Name: | us-gaap_ScheduleOfDisposalGroupsIncludingDiscontinuedOperationsIncomeStatementBalanceSheetAndAdditionalDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration