| Revision of prior period statements |
The following table summarizes the impact of these correction of errors for the periods presented:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six months ended September 30, 2022 |
|
As previously reported |
|
Correction of errors related to classification of funds received for financing mortgage loans |
|
As restated |
| Net cash flows from/(used in) operating activities |
$ |
124,183 |
|
|
$ |
(149,590) |
|
|
$ |
(25,407) |
|
| Net cash flows used in investing activities |
(323,187) |
|
|
— |
|
|
(323,187) |
|
| Net cash flows from/(used in) financing activities |
746,094 |
|
|
149,590 |
|
|
895,684 |
|
| Effect of changes in foreign exchange rates on cash and cash equivalents |
184,186 |
|
|
— |
|
|
184,186 |
|
| NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH |
$ |
731,276
|
|
|
$ |
—
|
|
|
$ |
731,276
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six months ended September 30, 2021 |
|
As previously reported |
|
FF Life and FF Insurance acquisitions |
|
Adjustments for discontinued operations |
|
As recasted |
|
Correction of errors related to the classification of loans issued and bank customer accounts |
|
As restated |
| Net cash flows from/(used in) operating activities |
$ |
(146,141) |
|
|
$ |
2,119 |
|
|
134,938 |
|
|
$ |
(9,084) |
|
|
$ |
29,931 |
|
|
$ |
20,847 |
|
| Net cash flows used in investing activities |
(7,084) |
|
|
(37,220) |
|
|
— |
|
|
(44,304) |
|
|
(21,948) |
|
|
(66,252) |
|
| Net cash flows from/(used in) financing activities |
99,070 |
|
|
28,909 |
|
|
32,871 |
|
|
160,850 |
|
|
(7,983) |
|
|
152,867 |
|
| NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH |
$ |
(36,533) |
|
|
$ |
(96) |
|
|
$ |
167,617
|
|
|
$ |
130,988
|
|
|
$ |
—
|
|
|
$ |
130,988
|
|
The following table summarizes the impact of the correction of errors broken down by continuing and discontinued operations:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six months ended September 30, 2021 |
|
As recasted |
|
Correction of errors related to the classification of loans issued and bank customer accounts |
|
As restated |
| Net cash flows from/(used in) operating activities from continuing operations |
$ |
(4,046) |
|
|
$ |
19,288 |
|
|
$ |
15,242 |
|
| Net cash flows from/(used in) operating activities from discontinued operations |
(5,038) |
|
|
10,643 |
|
|
5,605 |
|
| Net cash flows (used in) investing activities from continuing operations |
(43,238) |
|
|
(22,543) |
|
|
(65,781) |
|
| Net cash flows (used in)/from investing activities from discontinued operations |
(1,066) |
|
|
595 |
|
|
(471) |
|
| Net cash flows from financing activities from continuing operations |
178,496 |
|
|
3,255 |
|
|
181,751 |
|
| Net cash flows used in financing activities from discontinued operations |
(17,646) |
|
|
(11,238) |
|
|
(28,884) |
|
| NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH |
$ |
130,988
|
|
|
$ |
—
|
|
|
$ |
130,988
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the three months ended September 30, 2022
|
|
As recasted |
|
Correction of errors |
|
As restated |
| Fee and commission income |
$ |
93,123 |
|
|
$ |
(9,966) |
|
|
$ |
83,157 |
|
| Insurance underwriting income |
26,200 |
|
|
— |
|
|
26,200 |
|
| Net realized gain/(loss) on investments available for sale |
716 |
|
|
— |
|
|
716 |
|
| Net gain on trading securities |
9,005 |
|
|
— |
|
|
9,005 |
|
| Interest income |
49,033 |
|
|
9,966 |
|
|
58,999 |
|
| Net loss on foreign exchange operations |
4,555 |
|
|
— |
|
|
4,555 |
|
| Net gain/(loss) on derivative |
(2,320) |
|
|
— |
|
|
(2,320) |
|
|
|
|
|
|
|
| TOTAL REVENUE, NET |
$ |
180,312
|
|
|
$ |
—
|
|
|
$ |
180,312
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the six months ended September 30, 2022
|
|
As recasted |
|
Correction of errors |
|
As restated |
| Fee and commission income |
$ |
187,483 |
|
|
$ |
(14,880) |
|
|
$ |
172,603 |
|
| Insurance underwriting income |
50,440 |
|
|
— |
|
|
50,440 |
|
| Net realized gain/(loss) on investments available for sale |
123 |
|
|
— |
|
|
123 |
|
| Net gain on trading securities |
13,439 |
|
|
— |
|
|
13,439 |
|
| Interest income |
92,682 |
|
|
14,880 |
|
|
107,562 |
|
| Net loss on foreign exchange operations |
9,148 |
|
|
— |
|
|
9,148 |
|
| Net gain/(loss) on derivative |
(1,054) |
|
|
— |
|
|
(1,054) |
|
|
|
|
|
|
|
| TOTAL REVENUE, NET |
$ |
352,261
|
|
|
$ |
—
|
|
|
$ |
352,261
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the three months ended September 30, 2021 |
|
As recasted |
|
Correction of errors |
|
As restated |
| Fee and commission income |
95,215 |
|
|
(2,190) |
|
|
93,025 |
|
| Net gain on trading securities |
181,603 |
|
|
— |
|
|
181,603 |
|
| Net realized gain/(loss) on investments available for sale |
(622) |
|
|
— |
|
|
(622) |
|
| Interest income |
24,429 |
|
|
2,190 |
|
|
26,619 |
|
| Insurance underwriting income |
16,022 |
|
|
— |
|
|
16,022 |
|
| Net gain on foreign exchange operations |
1,508 |
|
|
— |
|
|
1,508 |
|
| Net loss on derivative |
(656) |
|
|
— |
|
|
(656) |
|
|
|
|
|
|
|
| TOTAL REVENUE, NET |
$ |
317,499
|
|
|
$ |
—
|
|
|
$ |
317,499
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the six months ended September 30, 2021
|
|
As recasted |
|
Correction of errors |
|
As restated |
| Fee and commission income |
$ |
174,431 |
|
|
$ |
(3,291) |
|
|
$ |
171,140 |
|
| Insurance underwriting income |
30,098 |
|
|
— |
|
|
30,098 |
|
| Net realized gain/(loss) on investments available for sale |
(653) |
|
|
— |
|
|
(653) |
|
| Net gain on trading securities |
190,285 |
|
|
— |
|
|
190,285 |
|
| Interest income |
45,566 |
|
|
3,291 |
|
|
48,857 |
|
| Net loss on foreign exchange operations |
2,716 |
|
|
— |
|
|
2,716 |
|
| Net gain/(loss) on derivative |
(715) |
|
|
— |
|
|
(715) |
|
|
|
|
|
|
|
| TOTAL REVENUE, NET |
$ |
441,728
|
|
|
$ |
—
|
|
|
$ |
441,728
|
|
|