XML 133 R104.htm IDEA: XBRL DOCUMENT v3.23.3
Segment Reporting (Details)
$ in Thousands
 3 Months Ended 12 Months Ended
Jun. 30, 2023
USD ($)
Mar. 31, 2023
USD ($)
Jun. 30, 2022
USD ($)
Mar. 31, 2022
USD ($)
Mar. 31, 2021
USD ($)
Mar. 31, 2023
USD ($)
Segment
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Dec. 31, 2019
USD ($)
Income Statement [Abstract]                  
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  
Trust services and administration revenues 102 $ 8,400   0   0 20,300 19,400  
Total revenues (2,743)   (37,044) (66,618) 2,364 (104,903) 55,311 140,329  
Employee compensation and benefits 35,823   11,565 10,125 10,910 45,527 48,523 128,582  
Interest expense 3,784   3,619 2,110   15,471 27,457 32,551  
Professional services 10,373   7,857 5,449 4,939 38,422 17,801 19,045  
Provision for credit losses 0   18,790 9,383 0 20,580 18,755 0  
Loss on impairment of goodwill 1,096,305   0            
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  
Operating loss (1,155,970)   (85,951) (99,834) (23,237) (253,172) (71,120) (47,413)  
Other income       2 $ 0 86 2 36,267  
Statement of Financial Position [Abstract]                  
Investments 489,290 497,221   674,170   497,221      
Other assets, net (related party of $2,195 and nil) 31,852 42,448   95,988   42,448      
Goodwill and intangible assets, net 1,274,721 2,371,026   2,370,850   2,371,026 2,370,850 2,371,035 $ 2,371,199
Total assets 1,795,863 2,910,695 [1]   3,141,008   $ 2,910,695 [1]      
Reportable segments | Segment           3      
Previously Reported [Member]                  
Income Statement [Abstract]                  
Trust services and administration revenues             540 30  
Ben Liquidity                  
Income Statement [Abstract]                  
Operating loss (903,026)   (32,853)            
Statement of Financial Position [Abstract]                  
Total assets 1,135,322 2,111,580       $ 2,111,580      
Ben Custody                  
Income Statement [Abstract]                  
Operating loss (189,997)   6,163            
Statement of Financial Position [Abstract]                  
Total assets 448,545 641,685       641,685      
Customer ExAlt Trusts                  
Income Statement [Abstract]                  
Operating loss (38,410)   (80,172)            
Statement of Financial Position [Abstract]                  
Total assets 495,322 502,306       502,306      
Operating Segments | Ben Liquidity                  
Income Statement [Abstract]                  
Investment income (loss), net       0   0      
Loss on financial instruments, net       0   0      
Interest income       0   0      
Trust services and administration revenues       121   0 510    
Total revenues 12,007   14,311 17,911   50,819 56,439    
Employee compensation and benefits 2,493   2,204 2,200   8,527 8,328 6,216  
Interest expense 758   634 538   2,893 12,812 11,496  
Professional services 633   693 915   2,849 3,100 3,656  
Provision for credit losses       0   0      
Loss on impairment of goodwill 901,000                
Other expenses 654   531 436   2,313 2,127 (165)  
Total operating expenses 915,033   47,164 38,210   97,331 35,248 26,581  
Operating loss       (20,299)   (46,512) 21,191 25,238  
Other income       0   0      
Statement of Financial Position [Abstract]                  
Investments held by Customer ExAlt Trusts (related party of $76,154 and $127,284) 304,167 376,253   418,793   376,253      
Investments   0       0      
Other assets, net (related party of $2,195 and nil) 6,275 9,447   31,563   9,447      
Goodwill and intangible assets, net 824,880 1,725,880       1,725,880      
Total assets   2,111,580   450,356   2,111,580      
Operating Segments | Ben Custody                  
Income Statement [Abstract]                  
Investment income (loss), net       0   0      
Loss on financial instruments, net       0   0      
Interest income       0   0      
Trust services and administration revenues 8   8 8   30 30 30  
Total revenues 6,576   7,290 8,416   29,042 20,288    
Employee compensation and benefits 560   459 517   2,219 2,031 1,915  
Interest expense       0   0      
Professional services 501   505 446   2,018 1,552 1,190  
Provision for credit losses       0   0      
Loss on impairment of goodwill 195,305                
Other expenses 207   163 152   759 512 382  
Total operating expenses 196,573   1,127 1,115   4,996 4,095 3,487  
Operating loss       7,301   24,046 16,193 15,922  
Other income       0   0      
Statement of Financial Position [Abstract]                  
Investments held by Customer ExAlt Trusts (related party of $76,154 and $127,284)   0       0      
Investments   0       0      
Other assets, net (related party of $2,195 and nil) 49,631 47,466   46,933   47,466      
Goodwill and intangible assets, net 398,914 594,219       594,219      
Total assets   641,685   46,933   641,685      
Operating Segments | Customer ExAlt Trusts                  
Income Statement [Abstract]                  
Investment income (loss), net 500   (25,117) (10,811)   (54,010) 15,534 0  
Loss on financial instruments, net (1,803)   (10,784) (44,661)   (35,085) 29,512 (15,838)  
Interest income 8   4 0   54 7,110 1,819  
Trust services and administration revenues       0   0      
Total revenues (1,295)   (35,897) (55,472)   (89,041) 52,156    
Employee compensation and benefits       0   0      
Interest expense 1,874   2,329 1,046   0   4,675  
Professional services 1,261   582 0   5,033 350    
Provision for credit losses     12,607 4,774   13,843 14,318    
Other expenses 356   600 1,860   1,905 695 502  
Total operating expenses 37,115   44,275 38,141   158,997 98,506 80,817  
Operating loss       (93,613)   (248,038) (46,350) 37,784  
Other income       0   0      
Statement of Financial Position [Abstract]                  
Investments held by Customer ExAlt Trusts (related party of $76,154 and $127,284)   0       0      
Investments 486,944 491,859   659,921   491,859      
Other assets, net (related party of $2,195 and nil) 8,378 10,447   20,106   10,447      
Goodwill and intangible assets, net   0       0      
Total assets   502,306   680,027   502,306      
Corporate & Other                  
Income Statement [Abstract]                  
Investment income (loss), net       0   0      
Loss on financial instruments, net (1,658)   (1,236) (11,350)   (16,336) 2,325 (14,832)  
Interest income 108   81 73   358 288 285  
Trust services and administration revenues 94     0   0   0  
Total revenues (1,456)   (1,155) (11,275)   (15,892) 2,615 21,720  
Employee compensation and benefits 32,770   8,902 7,408   34,781 38,164 0  
Interest expense 1,152   656 526   3,621 14,645 16,380  
Professional services 7,978   6,077 4,088   28,522 12,799 0  
Provision for credit losses     6,183 4,609   6,737 4,437    
Other expenses 5,725   5,782 3,701   23,292 10,561 6,845  
Total operating expenses 47,625   27,600 20,332   96,953 80,606 157,875  
Operating loss (49,081)   (28,755) (31,607)   (112,845) (77,991) (136,155)  
Other income       2   86 2 0  
Statement of Financial Position [Abstract]                  
Investments held by Customer ExAlt Trusts (related party of $76,154 and $127,284)   0       0      
Investments 2,346 5,362   14,249   5,362      
Other assets, net (related party of $2,195 and nil) 16,807 21,849   43,670   21,849      
Goodwill and intangible assets, net 50,927 50,927   2,370,850   50,927      
Total assets 70,080 78,138   2,428,769   78,138      
Consolidating Eliminations                  
Income Statement [Abstract]                  
Interest income 12,007   14,311 (17,790)   (50,819) (55,929) (51,819)  
Trust services and administration revenues 6,568   7,282 (8,408)   (29,012) (20,258) (19,379)  
Total revenues 18,575   21,593 (26,198)   (79,831) (76,187) (71,220)  
Interest expense 29,780   23,691 (24,694)   (110,905) (70,963) (63,463)  
Other expenses 3,844   4,466 (5,767)   (18,354) (12,180) (12,177)  
Provision for loan losses 9,495   43,102 (34,121)   (80,749) (8,881) (5,378)  
Total operating expenses 43,119   71,259 (64,582)   (210,008) (92,024) (81,018)  
Operating loss 24,544   49,666 38,384   130,177 15,837 9,798  
Statement of Financial Position [Abstract]                  
Investments held by Customer ExAlt Trusts (related party of $76,154 and $127,284) (304,167) (376,253)   (418,793)   (376,253)      
Investments   0       0      
Other assets, net (related party of $2,195 and nil) (49,239) (46,761)   (46,284)   (46,761)      
Goodwill and intangible assets, net   0       0      
Total assets (353,406) $ (423,014)   (465,077)   (423,014)      
Consolidating Eliminations | Ben Liquidity                  
Income Statement [Abstract]                  
Interest income 12,007   14,311 17,790   50,819 55,929 51,819  
Trust services and administration revenues 0         0      
Total revenues               51,819  
Interest expense       0   0      
Other expenses       0   0      
Provision for loan losses 9,495   43,102 34,121   80,749 8,881 5,378  
Consolidating Eliminations | Ben Custody                  
Income Statement [Abstract]                  
Trust services and administration revenues 6,568   7,282 8,408   29,012 20,258 19,379  
Total revenues               19,409  
Interest expense       0   0      
Other expenses       0   0      
Provision for loan losses       0   0      
Consolidating Eliminations | Customer ExAlt Trusts                  
Income Statement [Abstract]                  
Interest income       0   0      
Trust services and administration revenues       0   0      
Total revenues               118,601  
Interest expense 29,780   23,691 24,694   0 70,963 63,463  
Other expenses 3,844   4,466 5,767   18,354 $ 12,180 12,177  
Provision for loan losses     $ 0 $ 0   $ 0      
Segment Reconciling Items                  
Income Statement [Abstract]                  
Interest income               $ (22)  
Trust services and administration revenues $ 8                
[1] Retroactively adjusted March 31, 2023 for the de-SPAC merger transaction as described in Note 4. Such adjustments are unaudited.