XML 132 R103.htm IDEA: XBRL DOCUMENT v3.23.3
Variable Interest Entities - VIE Financials (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Mar. 31, 2022
Mar. 31, 2021
Mar. 31, 2023
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
ASSETS                
Cash and cash equivalents $ 3,057   $ 70,588   $ 8,726 [1]      
Restricted cash 821   5,517   819 [1]      
Investments 489,290   674,170   497,221      
Other assets, net (related party of $1,405 and $2,195)     19,883   32,903      
Total assets 1,795,863   3,141,008   2,910,695 [1]      
LIABILITIES, TEMPORARY EQUITY, AND EQUITY                
Other liabilities (related party of $7 and $100)     12,359   14,622      
Customer ExAlt Trusts loan payable, net 49,529   65,674   52,129 [1]      
Total liabilities 263,864   241,434   231,789 [1]      
The Beneficient Company Group, L.P. Partners' Capital:                
Treasury common units, at cost (544 units as of March 31, 2023 and March 31, 2022) (3,444)   (3,444)   (3,444) [1]      
Noncontrolling interests 786,080   277,888   142,213 [1]      
Accumulated other comprehensive income (loss) 14,190   (1,326)   9,900 [1]      
Total equity 1,280,947 [2] $ 1,842,649 [3] 991,686 $ 984,887 1,728,413 [1],[2] $ 1,092,996 $ 986,348 $ 676,493
Revenues                
Investment income (loss), net 500 (25,117) (10,811) 2,091 (54,010) 15,534 132,620  
Loss on financial instruments, net (3,461) (12,020) (56,011) (2,180) (51,421) 31,837 (30,670)  
Interest income 116 85 73   412 7,398 2,082  
Total revenues (2,743) (37,044) (66,618) 2,364 (104,903) 55,311 140,329  
Operating expenses                
Interest expense 3,784 3,619 2,110   15,471 27,457 32,551  
Provision for credit losses 0 18,790 9,383 0 20,580 18,755 0  
Professional services 10,373 7,857 5,449 4,939 38,422 17,801 19,045  
Other expenses 6,942 7,076 6,149   28,269 13,895 7,564  
Total operating expenses 1,153,227 48,907 33,216 25,601 148,269 126,431 187,742  
Net loss (1,155,970) (86,348) (100,906) (22,964) (252,100) (105,133) (50,872)  
Net income (loss) attributable to noncontrolling interests (44,552) (36,247) (60,267)   (136,942) (43,383) 7,168  
Variable Interest Entity, Primary Beneficiary                
Operating expenses                
Net income (loss) attributable to noncontrolling interests (13,866) (28,711) (55,229) $ (12,832) (117,861) (30,513) 47,582  
Variable Interest Entity, Primary Beneficiary | Customer ExAlt Trusts                
ASSETS                
Cash and cash equivalents 1,662   10,024   3,259      
Restricted cash 821   5,517   819      
Investments 486,944   659,921   491,859      
Other assets, net (related party of $1,405 and $2,195) 5,412   3,361   5,891      
Total assets 494,839   678,823   501,828      
LIABILITIES, TEMPORARY EQUITY, AND EQUITY                
Accounts payable and accrued expenses 2,458   5,350   1,945      
Other liabilities (related party of $7 and $100) 108   479   132      
Customer ExAlt Trusts loan payable, net 49,529   65,674   52,129      
Total liabilities 52,095   71,503   54,206      
The Beneficient Company Group, L.P. Partners' Capital:                
Treasury common units, at cost (544 units as of March 31, 2023 and March 31, 2022) (3,444)   (3,444)   (3,444)      
Noncontrolling interests (132,361)   982   (118,299)      
Accumulated other comprehensive income (loss) 14,190   (1,326)   9,900      
Total equity (121,615)   (3,788)   (111,843)      
Revenues                
Investment income (loss), net 500 (25,117) (10,811)   (54,010) 15,534 132,620  
Loss on financial instruments, net (1,803) (10,785) (44,661)   (35,085) 29,512 (15,838)  
Interest income 8 4 0   54 7,110 1,798  
Total revenues (1,295) (35,898) (55,472)   (89,041) 52,156 118,580  
Operating expenses                
Interest expense 1,874 2,329 1,046   8,956 0 4,675  
Provision for credit losses 0 12,607 4,774   13,843 14,319 0  
Professional services 1,261 582 0   5,032 350 0  
Other expenses 357 600 1,860   1,905 695 502  
Total operating expenses 3,492 16,118 7,680   29,736 15,364 5,177  
Net loss (4,787) (52,016) (63,152)   (118,777) 36,792 113,403  
Net income (loss) attributable to noncontrolling interests $ (13,866) $ (28,711) $ (55,229)   $ (117,861) $ (30,513) $ 47,582  
[1] Retroactively adjusted March 31, 2023 for the de-SPAC merger transaction as described in Note 4. Such adjustments are unaudited.
[2] Retroactively adjusted March 31, 2023 for de-SPAC merger transaction as described in Note 4.
[3] Retroactively adjusted March 31, 2022 and three months ended June 30, 2022 for de-SPAC merger transaction as described in Note 4.