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Net Loss per Unit (Tables)

3 Months Ended

12 Months Ended

Jun. 30, 2023

Mar. 31, 2023

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

Basic and diluted net income (loss) attributable to Beneficient. per common share for the three months ended June 30, 2023 and 2022, are as follows:

(Dollars in thousands)		Three Months Ended June 30,
		2023				2022
Net loss		$	(1,155,970	)		$	(86,348	)
Less: Net income (loss) attributable to noncontrolling interests			44,552				36,247
Less: Noncontrolling interest guaranteed payment			(4,105	)			(3,868	)
Net loss attributable to Beneficient common shareholders		$	(1,115,523	)		$	(53,969	)
Net loss attributable to Class A common shareholders			(1,013,454	)			(48,786	)
Net loss attributable to Class B common shareholders			(102,069	)			(5,183	)
Weighted average of common shares outstanding - basic and diluted
Class A			184,160,036				180,178,268
Class B			19,140,451				19,140,451
Net loss attributable to Beneficient per common share—Basic and Diluted
Class A		$	(5.50	)		$	(0.27	)
Class B		$	(5.33	)		$	(0.27	)

Basic and diluted net loss attributable to The Beneficient Company Group L.P. per common unit for the year ended March 31, 2023, the three months ended March 31, 2022, and the years ended December 31, 2021 and 2020, are as follows:

(Dollars in thousands)		Year Ended March 31,				Three Months Ended March 31,				Year Ended December 31,
		2023				2022				2021				2020
Net loss		$	(252,100	)		$	(100,906	)		$	(105,133	)		$	(50,872	)
Less: Net income (loss) attributable to noncontrolling interests			136,942				60,267				43,383				(7,168	)
Less: Noncontrolling interest guaranteed payment			(15,822	)			(3,788	)			(1,264	)			—
Net loss attributable to The Beneficient Company Group, L.P.			(130,980	)			(44,427	)			(63,014	)			(58,040	)
Less: Noncash deemed contribution on extinguishment of redeemable noncontrolling interest			—				—				14,200				—
Less: Noncash deemed dividend on extinguishment of preferred equity interests of noncontrolling interest holders			—				—				(46,202	)			—
Net loss attributable to The Beneficient Company Group, L.P. common unitholders		$	(130,980	)		$	(44,427	)		$	(95,016	)		$	(58,040	)
Weighted average of common units outstanding—basic and diluted			67,486,168				67,486,168				51,534,365				45,807,648
Net loss attributable to The Beneficient Company Group, L.P. per common unit—Basic and Diluted		$	(1.94	)		$	(0.66	)		$	(1.84	)		$	(1.27	)

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

In computing diluted net loss per unit, we considered potentially dilutive units. Anti-dilutive units not recognized in the diluted net loss per unit calculation for the three months ended June 30, 2023 and 2022, were as follows:

		Shares
		Three Months Ended June 30,
		2023				2022
Class S Ordinary			5,511,967				5,834,296
Class S Preferred			48,403				86,606
Preferred Series A Subclass 0			32,060,425				19,795,627
Preferred Series A Subclass 1			112,360,624				63,880,240
Preferred Series C Subclass 1			44,040,761				16,068,912
Restricted Stock Units			7,966,488				8,419,978
Warrants			29,696,875				—
Total anti-dilutive shares			231,685,543				114,085,659

In computing diluted net loss per unit, we considered potentially dilutive units. Anti-dilutive units not recognized in the diluted net loss per unit calculation for the year ended March 31, 2023, the three months ended March 31, 2022, and the years ended December 31, 2021 and 2020, were as follows:

		Units
		Year Ended March 31,				Three Months Ended March 31,				Year Ended December 31,
		2023				2022				2021				2020
Class S Ordinary			5,835,822				5,834,296				5,811,251				5,720,627
Class S Preferred			93,678				88,606				72,126				15,288
Preferred Series A Subclass 0			19,795,997				19,706,509				1,664,303				—
Preferred Series A Subclass 1			78,972,518				79,711,972				121,956,222				127,088,320
Preferred Series C			16,068,912				16,068,912				16,340,086				4,845,358
Restricted Equity Units			6,832,280				6,250,572				6,191,271				5,569,576
Total anti-dilutive units			127,599,207				127,660,867				152,035,259				143,239,169

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Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities.

+ References

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-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
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Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
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