Quarterly report pursuant to Section 13 or 15(d)

RECAST- Condensed Consolidated Statement of Operations and Other Comprehensive Income (Details)

v3.23.1
RECAST- Condensed Consolidated Statement of Operations and Other Comprehensive Income (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Revenue:    
Fee and commission income $ 89,446 $ 78,115
Net gain on trading securities 4,433 8,682
Net realized loss on investments available for sale (593) (31)
Interest income 48,563 22,238
Income from insurance activity 24,241 14,076
Net gain/(loss) on foreign exchange operations 4,593 1,208
Net gain on derivative 1,266 (59)
TOTAL REVENUE, NET 171,949 124,229
Expense:    
Fee and commission expense 23,315 21,194
Interest expense 40,071 14,246
Expense from insurance activity 16,692 11,296
Operating expense 37,999 19,421
Provision for impairment losses 2,428 267
Other expense, net (561) 10
TOTAL EXPENSE 119,944 66,434
NET INCOME BEFORE INCOME TAX 52,005 57,795
Income tax expense (8,879) (5,127)
INCOME FROM CONTINUING OPERATIONS 43,126 52,668
Income before income tax expense of discontinued operations 19,102 3,237
Income tax expense of discontinued operations (3,156) (537)
Income from discontinued operations 15,946 2,700
NET INCOME 59,072 55,368
Less: Net loss attributable to non-controlling interest in subsidiary (1,994) (52)
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS 61,066 55,420
OTHER COMPREHENSIVE INCOME    
Change in unrealized gain on investments available-for-sale, net of tax effect 866 874
Reclassification adjustment relating to available-for-sale investments disposed of in the period, net of tax effect 593 31
Foreign currency translation adjustments, net of tax effect 21,990 3,022
OTHER COMPREHENSIVE INCOME 23,449 3,927
COMPREHENSIVE INCOME BEFORE NON-CONTROLLING INTERESTS 82,521 59,295
Less: Comprehensive loss attributable to non-controlling interest in subsidiary (1,994) (52)
COMPREHENSIVE INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 84,515 $ 59,347
Earnings per share, basic (in dollars per share) $ 1.03 $ 0.93
Earnings per share, diluted (in dollars per share) 1.03 0.93
Earnings from continuing operations per common share - basic (in dollars per share) 0.72 0.89
Earnings from continuing operations per common share - Diluted (in dollars per share) 0.72 0.88
(Loss)/earnings from discontinued operations per common share - basic (in dollars per share) 0.27 0.05
(Loss)/earnings from discontinued operations per common share - Diluted (in dollars per share) $ 0.27 $ 0.05
As previously reported    
Revenue:    
Fee and commission income $ 126,727 $ 96,306
Net gain on trading securities 15,582 9,900
Net realized loss on investments available for sale (593) 0
Interest income 54,367 19,178
Income from insurance activity 24,241 0
Net gain/(loss) on foreign exchange operations 5,019 (1,187)
Net gain on derivative 1,265 (59)
TOTAL REVENUE, NET 226,608 124,138
Expense:    
Fee and commission expense 25,241 21,863
Interest expense 45,829 14,272
Expense from insurance activity 16,692 0
Operating expense 65,467 30,318
Provision for impairment losses 2,798 293
Other expense, net (527) 14
TOTAL EXPENSE 155,500 66,760
NET INCOME BEFORE INCOME TAX 71,108 57,378
Income tax expense (12,035) (5,669)
INCOME FROM CONTINUING OPERATIONS 59,073 51,709
Income before income tax expense of discontinued operations 0 0
Income tax expense of discontinued operations 0 0
Income from discontinued operations 0 0
NET INCOME 59,073 51,709
Less: Net loss attributable to non-controlling interest in subsidiary (1,994) (52)
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS 61,067 51,761
OTHER COMPREHENSIVE INCOME    
Change in unrealized gain on investments available-for-sale, net of tax effect 866 0
Reclassification adjustment relating to available-for-sale investments disposed of in the period, net of tax effect 593 0
Foreign currency translation adjustments, net of tax effect 21,977 3,300
OTHER COMPREHENSIVE INCOME 23,436 3,300
COMPREHENSIVE INCOME BEFORE NON-CONTROLLING INTERESTS 82,509 55,009
Less: Comprehensive loss attributable to non-controlling interest in subsidiary (1,994) (52)
COMPREHENSIVE INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 84,503 $ 55,061
Earnings per share, basic (in dollars per share) $ 0.99 $ 0.87
Earnings per share, diluted (in dollars per share) $ 0.99 $ 0.87
Recast insurance companies    
Revenue:    
Fee and commission income   $ (24)
Net gain on trading securities   841
Net realized loss on investments available for sale   (31)
Interest income   6,585
Income from insurance activity   14,076
Net gain/(loss) on foreign exchange operations   163
Net gain on derivative   (1)
TOTAL REVENUE, NET   21,609
Expense:    
Fee and commission expense   1,397
Interest expense   2,223
Expense from insurance activity   11,296
Operating expense   2,926
Provision for impairment losses   0
Other expense, net   111
TOTAL EXPENSE   17,953
NET INCOME BEFORE INCOME TAX   3,656
Income tax expense   5
INCOME FROM CONTINUING OPERATIONS   3,661
Income before income tax expense of discontinued operations   0
Income tax expense of discontinued operations   0
Income from discontinued operations   0
NET INCOME   3,661
Less: Net loss attributable to non-controlling interest in subsidiary   0
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS   3,661
OTHER COMPREHENSIVE INCOME    
Change in unrealized gain on investments available-for-sale, net of tax effect   874
Reclassification adjustment relating to available-for-sale investments disposed of in the period, net of tax effect   31
Foreign currency translation adjustments, net of tax effect   (278)
OTHER COMPREHENSIVE INCOME   627
COMPREHENSIVE INCOME BEFORE NON-CONTROLLING INTERESTS   4,288
Less: Comprehensive loss attributable to non-controlling interest in subsidiary   0
COMPREHENSIVE INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS   4,288
Recast discontinued operations    
Revenue:    
Fee and commission income $ (37,281) (18,167)
Net gain on trading securities (11,149) (2,059)
Net realized loss on investments available for sale 0 0
Interest income (5,804) (3,525)
Income from insurance activity 0 0
Net gain/(loss) on foreign exchange operations (426) 2,232
Net gain on derivative 1 1
TOTAL REVENUE, NET (54,659) (21,518)
Expense:    
Fee and commission expense (1,926) (2,066)
Interest expense (5,758) (2,249)
Expense from insurance activity 0 0
Operating expense (27,468) (13,823)
Provision for impairment losses (370) (26)
Other expense, net (34) (115)
TOTAL EXPENSE (35,556) (18,279)
NET INCOME BEFORE INCOME TAX (19,103) (3,239)
Income tax expense 3,156 537
INCOME FROM CONTINUING OPERATIONS (15,947) (2,702)
Income before income tax expense of discontinued operations 19,102 3,237
Income tax expense of discontinued operations (3,156) (537)
Income from discontinued operations 15,946 2,700
NET INCOME (1) (2)
Less: Net loss attributable to non-controlling interest in subsidiary 0 0
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS (1) (2)
OTHER COMPREHENSIVE INCOME    
Change in unrealized gain on investments available-for-sale, net of tax effect 0 0
Reclassification adjustment relating to available-for-sale investments disposed of in the period, net of tax effect 0 0
Foreign currency translation adjustments, net of tax effect 13 0
OTHER COMPREHENSIVE INCOME 13 0
COMPREHENSIVE INCOME BEFORE NON-CONTROLLING INTERESTS 12 (2)
Less: Comprehensive loss attributable to non-controlling interest in subsidiary 0 0
COMPREHENSIVE INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 12 $ (2)