XML 59 R30.htm IDEA: XBRL DOCUMENT
v3.23.3

Supplemental Cash Flow Information | 3 Months Ended | 12 Months Ended
--- | --- | ---
Jun. 30, 2023 | Mar. 31, 2023
Offsetting [Abstract] |  |
Supplemental Cash Flow Information |
18. | Supplemental Cash Flow Information
Cash paid for taxes for the three months ended June 30, 2023 and 2022 was de minimis. Cash paid for interest for the three months ended June 30, 2023 and 2022, was nil and $2.0 million, respectively. Supplemental disclosure of noncash investing and financing activities include: Three Months Ended June 30, 2023:
| – | $ 793.4 million conversion of BCG Class A common units for Class A common stock
| – | $791.9 million conversion of BCG Preferred B.2 for Class A common stock
| – | $193.9 million exchange of BCH Preferred A.1 for Class A common stock and Class B common stock in BCG Recapitalization.
| – | $6.9 million deemed dividend from BCH Preferred A.1 to BCG Preferred B.2 for accrual of preferred return.
| – | $5.3 million issuance of Class A common for transactions closing post de-SPAC.
| – | $4.1 million accrual for BCH Preferred A.0 guaranteed payment.
| – | $3.9 million conversion of BCH Class S Ordinary to Class A common stock.
| – | $2.7 million settlement of liability for issuance of Class A common stock.
| – | $0.3 million of distributions payable to the Charitable Beneficiaries.
Three Months Ended June 30, 2022:
| – | $9.2 million deemed dividend from BCH Preferred A.1 to BCG Preferred B.2 for accrual of preferred return.
| – | $3.9 million accrual for BCH Preferred A.0 guaranteed payment.
| – | $2.4 million issuance of noncontrolling interest from reserved cash received in a prior period.
| – | $1.1 million exchange of BCH Preferred A.0 for BCH Preferred A.1.
| – | $0.5 million of distributions payable to the Charitable Beneficiaries.
| – | $0.3 million of noncash issuance of noncontrolling interest.
The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the consolidated statements of financial condition and that are shown in the consolidated statements of cash flows:
|  | June 30, 2023 |  |  | March 31, 2023 |
Cash and cash equivalents |  | $ | 3,057 |  |  | $ | 8,726 |
Restricted cash |  |  | 821 |  |  |  | 819 |
Total cash, cash equivalents and restricted cash |  | $ | 3,878 |  |  | $ | 9,545 |
| 21. Supplemental Cash Flow Information Cash paid for taxes for the year ended March 31, 2023, the three months ended March 31, 2022. and the years ended December 31, 2021 and 2020, was de minimis. Cash paid for interest for the year ended March 31, 2023, the three months ended March 31, 2022, and the years ended December 31, 2021 and 2020, was $8.7 million, $6.6 million, $6.4 million, and $12.2 million, respectively. Supplemental disclosure of noncash investing and financing activities include: Year Ended March 31, 2023:
| – |  | $37.1 million deemed dividend from BCH Preferred A.1 to BCG Preferred B.2 for accrual of preferred return.
| – |  | $20.1 million issuance of BCG Preferred B.2 to satisfy the contingent consideration payable.
| – |  | $15.8 million accrual for BCH Preferred A.0 guaranteed payment.
| – |  | $2.4 million issuance of noncontrolling interest from reserved cash received in a prior period.
| – |  | $1.7 million of distributions payable to the Charitable Beneficiaries.
| – |  | $1.4 million promissory note receivable received as consideration in sale of fixed assets.
| – |  | $1.1 million exchange of BCH Preferred A.0 for BCH Preferred A.1.
| – |  | $0.3 million noncash issuance of noncontrolling interest.
Three Months Ended March 31, 2022:
| – |  | $8.4 million deemed dividend from Preferred A.1 to BCG Preferred B.2 for accrual of preferred return.
| – |  | $4.1 million liability related to funds retained by Ben on behalf of the lender to the Customer ExAlt Trust loan payable.
| – |  | $3.8 million liability for Preferred A.0 guaranteed payment.
| – |  | $0.8 million of distributions payable to the Charitable Beneficiaries.
Year Ended December 31, 2021:
| – |  | $352.6 million issuance of BCG Preferred B.2 for consideration in acquisition of alternative assets.
| – |  | $312.3 million issuance of BCG Preferred B.2 in exchange for conversion of Preferred A.1.
| – |  | $251.7 million issuance of Preferred A.0 in exchange for conversion of Preferred A.1.
| – |  | $192.8 million issuance of Common Units in connection with the Commercial Loan Agreement settlement.
| – |  | $20.1 million liability for contingent issuance of BCG Preferred B.2.
| – |  | $9.2 million of noncash issuance of noncontrolling interest.
| – |  | $3.8 million liability for put option related to grant of Preferred A.1.
| – |  | $2.3 million of deferred financing costs owed on debt due to related parties.
| – |  | $2.2 million deemed dividend from Preferred A.1 to BCG Preferred B.2 for accrual of preferred return.
| – |  | $1.5 million of distributions payable to the Charitable Beneficiaries.
| – |  | $1.3 million liability for Preferred A.0 guaranteed payment.
| – |  | $0.2 million issuance of Preferred C.1 Unit Accounts for contribution of alternative assets.
Year Ended December 31, 2020:
| – |  | $65.1 million liability related to the Promissory Note, including accrued interest thereon and unamortized discount, was settled in exchange for BCH Preferred Series C.1 Unit Accounts with a capital account balance of $75.0 million.
| – |  | $94.8 million of GWG L Bonds, $84.6 million of GWG Holdings’ common stock, and $3.4 million in treasury shares were recognized in connection with the Collateral Swap discussed in Note 4.
| – |  | $57.5 million liability related to the option agreement was exercised resulting in equal amount of Common Units being issued.
| – |  | $6.0 million of noncash issuance of noncontrolling interest.
| – |  | $0.7 million of distributions payable to the Charitable Beneficiaries.
| – |  | $0.3 million issuance of Preferred C.1 Unit Accounts for contribution to alternative assets.
The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the consolidated statements of financial condition and that are shown in the consolidated statements of cash flows:
|  | March 31, 2023 |  |  | March 31, 2022 |
Cash and cash equivalents |  | $ | 8,726 |  |  | $ | 70,588 |
Restricted cash |  |  | 819 |  |  |  | 5,517 |
Total cash, cash equivalents and restricted cash |  | $ | 9,545 |  |  | $ | 76,105 |

X
- Definition The entire disclosure for supplemental cash flow activities, including cash, noncash, and part noncash transactions, for the period. Noncash is defined as information about all investing and financing activities of an enterprise during a period that affect recognized assets or liabilities but that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 230 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//230/tableOfContent + Details
Name: | us-gaap_CashFlowSupplementalDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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