Quarterly report pursuant to Section 13 or 15(d)

SEGMENT REPORTING (Tables)

v3.22.2
SEGMENT REPORTING (Tables)
 3 Months Ended
Jun. 30, 2022
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment
The following tables summarize the Company's Statement of Operations and Statements of Other Comprehensive Income by its geographic segments. Intercompany balances were eliminated for separate disclosure:
Quarter ended June 30, 2022
STATEMENTS OF OPERATIONS
 Central Asia Europe U.S. Russia Middle East/Caucasus Total
Fee and commission income (1)
$ 9,192  $ 84,034  $ 1,134  $ 37,281  $ —  $ 131,641 
Net gain/(loss) on trading securities 21,589  (15,424) (1,731) 11,148  —  15,582 
Net realized loss on investments available for sale (593) —  —  —  —  (593)
Interest income 38,910  297  4,442  5,804  —  49,453 
Income from insurance activity 24,241  —  —  —  —  24,241 
Net gain/(loss) on foreign exchange operations 4,268  569  (234) 426  (10) 5,019 
Net gain on derivative 1,265  —  —  —  —  1,265 
TOTAL REVENUE, NET 98,872  69,476  3,611  54,659  (10) 226,608 
Fee and commission expense 10,714  12,427  153  1,926  21  25,241 
Interest expense 31,968  2,696  5,407  5,758  —  45,829 
Expenses related to Insurance activity 16,692  —  —  —  —  16,692 
Operating expense 20,766  11,565  5,267  27,469  400  65,467 
Provision for impairment losses/(recoveries) 2,431  —  (3) 370  —  2,798 
Other expense/(income), net (496) 2  (6) 30  (57) (527)
TOTAL EXPENSE 82,075  26,690  10,818  35,553  364  155,500 
NET INCOME BEFORE INCOME TAX 16,797  42,786  (7,207) 19,106  (374) 71,108 
Income tax (expense)/benefit (61) (7,223) (1,605) (3,156) 10  (12,035)
NET PROFIT/(LOSS) $ 16,736  $ 35,563  $ (8,812) $ 15,950  $ (364) $ 59,073 
Quarter ended June 30, 2021 (Recast)
STATEMENTS OF OPERATIONS
 Central Asia Europe U.S. Russia Middle East/Caucasus Total
Fee and commission income $ 6,342  $ 71,991  $ 969  $ 18,081  $ —  $ 97,383 
Net gain/(loss) on trading securities 8,942  42  (302) 2,059  —  10,741 
Net realized loss on investments available for sale (31) —  —  —  —  (31)
Interest income 20,829  261  47  3,525  —  24,662 
Income from insurance activity 14,076  —  14,076 
Net gain/(loss) on foreign exchange operations 1,470  (226) (36) (2,232) —  (1,024)
Net loss on derivative (59) —  —  (1) —  (60)
TOTAL REVENUE, NET 51,569  72,068  678  21,432  —  145,747 
Fee and commission expense 2,532  18,480  182  2,066  —  23,260 
Interest expense 12,268  1,698  280  2,249  —  16,495 
Expense from insurance activity 11,296  —  —  —  —  11,296 
Operating expense 11,128  4,792  4,857  12,432  35  33,244 
Provision for impairment losses 255  12  —  26  —  293 
Other expense, net 47  3  —  75  —  125 
TOTAL EXPENSE 37,526  24,985  5,319  16,848  35  84,713 
NET INCOME BEFORE INCOME TAX 14,043  47,083  (4,641) 4,584  (35) 61,034 
Income tax (expense)/benefit (114) (5,862) 849  (537) —  (5,664)
NET PROFIT/(LOSS) $ 13,929  $ 41,221  $ (3,792) $ 4,047  $ (35) $ 55,370 
(1) All trading of U.S. and European exchange traded and OTC securities by all of the Company's securities brokerage firms, excluding PrimeEx, are routed to and executed through Freedom EU and all fee and commission income for those transactions is recognized at Freedom EU.
The following tables summarize the Company's total asset and total liabilities by its geographic segments. Intercompany balances were eliminated for separate disclosure:
June 30, 2022
Central Asia Europe U.S. Russia Middle East/Caucasus Total
Total assets $ 1,901,585  $ 589,078  $ 147,548  $ 1,157,130  $ 1,853  $ 3,797,194 
Total liabilities 1,641,727  358,023  152,458  1,037,683  387  3,190,278 
Net assets $ 259,858  $ 231,055  $ (4,910) $ 119,447  $ 1,466  $ 606,916 
March 31, 2022 (Recast)
Central Asia Europe U.S. Russia Middle East/Caucasus Total
Total assets $ 1,422,912  $ 777,116  $ 170,149  $ 806,960  $ 355  $ 3,177,492 
Total liabilities 1,203,486  471,435  175,136  780,655  172  2,630,884 
Net assets $ 219,426  $ 305,681  $ (4,987) $ 26,305  $ 183  $ 546,608