Annual report pursuant to Section 13 and 15(d)

RECAST - Condensed Consolidated Balance Sheet (Details)

v3.23.2
RECAST - Condensed Consolidated Balance Sheet (Details) - USD ($)
$ / shares in Units, $ in Thousands
Mar. 31, 2023
Feb. 28, 2023
Mar. 31, 2022
Mar. 31, 2021
Mar. 31, 2020
ASSETS          
Cash and cash equivalents (including $35,549 and $22,787 from related parties)     $ 225,464    
Restricted cash (including $114,885 and $222,651 from related parties)     547,950    
Trading securities $ 2,412,556   1,158,377    
Available-for-sale securities, at fair value 239,053   161,364    
Margin lending, brokerage and other receivables, net (including $294,985 and $107,649 from related parties) 376,329   147,659    
Loans issued 826,258   92,446    
Fixed assets, net 54,017   17,823    
Intangible assets, net 17,615   5,163    
Goodwill, net of impairment 14,192   5,898 $ 7,697  
Right-of-use asset 30,345   7,431    
Insurance contract assets 13,785   5,712    
Other assets, net (including $16,089 and $— from related party)     29,641    
Assets held for sale 0   825,419    
Total assets 5,084,558   3,230,347    
LIABILITIES AND SHAREHOLDERS' EQUITY          
Securities repurchase agreement obligations 1,517,416   840,224    
Customer liabilities (including $130,210 and $325,904 from related parties) 1,925,247   765,628    
Margin lending and trade payables (including $3,239 and $38,889 to related parties) 122,900   45,083    
Liabilities from insurance activity 182,502   122,087    
Current income tax liability 4,547   14,556    
Securities sold, not yet purchased – at fair value 0   13,865 8,569  
Debt securities issued 60,025   34,390    
Lease liability 30,320   7,504    
Liability arising from continuing involvement     6,447    
Other liabilities     21,477    
Liabilities held for sale 0   812,478    
Total liabilities 4,313,822   2,683,739    
Commitments and Contingent Liabilities (Note 31) $ 0   $ 0    
Preferred stock, par value (in dollars per share) $ 0.001   $ 0.001    
Preferred stock, authorized (in shares) 20,000,000   20,000,000    
Preferred stock, issued (in shares) 0   0    
Preferred stock, outstanding (in shares) 0   0    
Common stock, par value (in dollars per share) $ 0.001   $ 0.001    
Common stock, authorized (in shares) 500,000,000   500,000,000    
Common stock, issued (in shares) 59,659,191   59,542,212    
Equity [Abstract]          
Preferred stock - $0.001 par value; $20,000,000 shares authorized, no shares issued or outstanding $ 0   $ 0    
Common stock - $0.001 par value; 500,000,000 shares authorized; 59,659,191 and 59,542,212 shares issued and outstanding as of March 31, 2023 and March 31, 2022, respectively 59   59    
Additional paid in capital 164,162   174,745    
Retained earnings 647,064   441,924    
Accumulated other comprehensive loss (34,000)   (63,125)    
TOTAL FRHC SHAREHOLDERS’ EQUITY 777,285   553,603    
Non-controlling interest (6,549)   (6,995)    
TOTAL SHAREHOLDERS' EQUITY 770,736   546,608 $ 307,674 $ 149,369
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 5,084,558   3,230,347    
Discontinued operations          
ASSETS          
Cash and cash equivalents (including $35,549 and $22,787 from related parties)   $ 593,953 428,480    
Restricted cash (including $114,885 and $222,651 from related parties)   6,033 28,406    
Trading securities   113,845 122,497    
Margin lending, brokerage and other receivables, net (including $294,985 and $107,649 from related parties)   257,184 210,087    
Loans issued   23,169 2,395    
Other assets, net (including $16,089 and $— from related party)   32,398 33,554    
Total assets   1,026,582 825,419    
LIABILITIES AND SHAREHOLDERS' EQUITY          
Securities repurchase agreement obligations   776,425 701,584    
Customer liabilities (including $130,210 and $325,904 from related parties)   34,379 64,637    
Debt securities issued   33,275 32,469    
Other liabilities   16,385 13,788    
Total liabilities   $ 860,464 812,478    
As previously reported          
ASSETS          
Cash and cash equivalents (including $35,549 and $22,787 from related parties)     224,663    
Restricted cash (including $114,885 and $222,651 from related parties)     547,950    
Trading securities     1,080,982    
Available-for-sale securities, at fair value     1    
Margin lending, brokerage and other receivables, net (including $294,985 and $107,649 from related parties)     147,480    
Loans issued     92,403    
Fixed assets, net     17,387    
Intangible assets, net     3,512    
Goodwill, net of impairment     5,388    
Right-of-use asset     6,747    
Insurance contract assets     0    
Other assets, net (including $16,089 and $— from related party)     19,351    
Assets held for sale     825,419    
Total assets     2,971,283    
LIABILITIES AND SHAREHOLDERS' EQUITY          
Securities repurchase agreement obligations     742,710    
Customer liabilities (including $130,210 and $325,904 from related parties)     766,627    
Margin lending and trade payables (including $3,239 and $38,889 to related parties)     45,082    
Liabilities from insurance activity     0    
Current income tax liability     14,556    
Securities sold, not yet purchased – at fair value     13,865    
Debt securities issued     34,390    
Lease liability     6,785    
Liability arising from continuing involvement     6,447    
Other liabilities     20,668    
Liabilities held for sale     812,478    
Total liabilities     2,463,608    
Commitments and Contingent Liabilities (Note 31)     0    
Equity [Abstract]          
Preferred stock - $0.001 par value; $20,000,000 shares authorized, no shares issued or outstanding     0    
Common stock - $0.001 par value; 500,000,000 shares authorized; 59,659,191 and 59,542,212 shares issued and outstanding as of March 31, 2023 and March 31, 2022, respectively     59    
Additional paid in capital     141,340    
Retained earnings     426,563    
Accumulated other comprehensive loss     (53,291)    
TOTAL FRHC SHAREHOLDERS’ EQUITY     514,671    
Non-controlling interest     (6,996)    
TOTAL SHAREHOLDERS' EQUITY     507,675    
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY     2,971,283    
Revision of prior period, adjustment | FF Life acquisition          
ASSETS          
Cash and cash equivalents (including $35,549 and $22,787 from related parties)     1,429    
Restricted cash (including $114,885 and $222,651 from related parties)     0    
Trading securities     8,875    
Available-for-sale securities, at fair value     161,363    
Margin lending, brokerage and other receivables, net (including $294,985 and $107,649 from related parties)     172    
Loans issued     43    
Fixed assets, net     182    
Intangible assets, net     1,490    
Goodwill, net of impairment     359    
Right-of-use asset     532    
Insurance contract assets     3,555    
Other assets, net (including $16,089 and $— from related party)     9,863    
Assets held for sale     0    
Total assets     187,863    
LIABILITIES AND SHAREHOLDERS' EQUITY          
Securities repurchase agreement obligations     47,690    
Customer liabilities (including $130,210 and $325,904 from related parties)     0    
Margin lending and trade payables (including $3,239 and $38,889 to related parties)     0    
Liabilities from insurance activity     108,925    
Current income tax liability     0    
Securities sold, not yet purchased – at fair value     0    
Debt securities issued     0    
Lease liability     543    
Liability arising from continuing involvement     0    
Other liabilities     551    
Liabilities held for sale     0    
Total liabilities     157,709    
Commitments and Contingent Liabilities (Note 31)     0    
Equity [Abstract]          
Preferred stock - $0.001 par value; $20,000,000 shares authorized, no shares issued or outstanding     0    
Common stock - $0.001 par value; 500,000,000 shares authorized; 59,659,191 and 59,542,212 shares issued and outstanding as of March 31, 2023 and March 31, 2022, respectively     9,465    
Additional paid in capital     0    
Retained earnings     28,132    
Accumulated other comprehensive loss     (7,444)    
TOTAL FRHC SHAREHOLDERS’ EQUITY     30,153    
Non-controlling interest     1    
TOTAL SHAREHOLDERS' EQUITY     30,154    
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY     187,863    
Revision of prior period, adjustment | FF Life acquisition | Eliminations          
ASSETS          
Cash and cash equivalents (including $35,549 and $22,787 from related parties)     (917)    
Restricted cash (including $114,885 and $222,651 from related parties)     0    
Trading securities     0    
Available-for-sale securities, at fair value     0    
Margin lending, brokerage and other receivables, net (including $294,985 and $107,649 from related parties)     (34)    
Loans issued     0    
Fixed assets, net     0    
Intangible assets, net     0    
Goodwill, net of impairment     0    
Right-of-use asset     0    
Insurance contract assets     0    
Other assets, net (including $16,089 and $— from related party)     0    
Assets held for sale     0    
Total assets     (951)    
LIABILITIES AND SHAREHOLDERS' EQUITY          
Securities repurchase agreement obligations     0    
Customer liabilities (including $130,210 and $325,904 from related parties)     (917)    
Margin lending and trade payables (including $3,239 and $38,889 to related parties)     0    
Liabilities from insurance activity     0    
Current income tax liability     0    
Securities sold, not yet purchased – at fair value     0    
Debt securities issued     0    
Lease liability     0    
Liability arising from continuing involvement     0    
Other liabilities     (34)    
Liabilities held for sale     0    
Total liabilities     (951)    
Commitments and Contingent Liabilities (Note 31)     0    
Equity [Abstract]          
Preferred stock - $0.001 par value; $20,000,000 shares authorized, no shares issued or outstanding     0    
Common stock - $0.001 par value; 500,000,000 shares authorized; 59,659,191 and 59,542,212 shares issued and outstanding as of March 31, 2023 and March 31, 2022, respectively     (9,464)    
Additional paid in capital     16,498    
Retained earnings     (6,665)    
Accumulated other comprehensive loss     (369)    
TOTAL FRHC SHAREHOLDERS’ EQUITY     0    
Non-controlling interest     0    
TOTAL SHAREHOLDERS' EQUITY     0    
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY     (951)    
Revision of prior period, adjustment | FF Insurance acquisition          
ASSETS          
Cash and cash equivalents (including $35,549 and $22,787 from related parties)     371    
Restricted cash (including $114,885 and $222,651 from related parties)     0    
Trading securities     68,520    
Available-for-sale securities, at fair value     0    
Margin lending, brokerage and other receivables, net (including $294,985 and $107,649 from related parties)     61    
Loans issued     0    
Fixed assets, net     254    
Intangible assets, net     161    
Goodwill, net of impairment     151    
Right-of-use asset     152    
Insurance contract assets     2,157    
Other assets, net (including $16,089 and $— from related party)     427    
Assets held for sale     0    
Total assets     72,254    
LIABILITIES AND SHAREHOLDERS' EQUITY          
Securities repurchase agreement obligations     49,824    
Customer liabilities (including $130,210 and $325,904 from related parties)     0    
Margin lending and trade payables (including $3,239 and $38,889 to related parties)     21    
Liabilities from insurance activity     13,162    
Current income tax liability     0    
Securities sold, not yet purchased – at fair value     0    
Debt securities issued     0    
Lease liability     176    
Liability arising from continuing involvement     0    
Other liabilities     292    
Liabilities held for sale     0    
Total liabilities     63,475    
Commitments and Contingent Liabilities (Note 31)     0    
Equity [Abstract]          
Preferred stock - $0.001 par value; $20,000,000 shares authorized, no shares issued or outstanding     0    
Common stock - $0.001 par value; 500,000,000 shares authorized; 59,659,191 and 59,542,212 shares issued and outstanding as of March 31, 2023 and March 31, 2022, respectively     15,576    
Additional paid in capital     0    
Retained earnings     (4,812)    
Accumulated other comprehensive loss     (1,985)    
TOTAL FRHC SHAREHOLDERS’ EQUITY     8,779    
Non-controlling interest     0    
TOTAL SHAREHOLDERS' EQUITY     8,779    
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY     72,254    
Revision of prior period, adjustment | FF Insurance acquisition | Eliminations          
ASSETS          
Cash and cash equivalents (including $35,549 and $22,787 from related parties)     (82)    
Restricted cash (including $114,885 and $222,651 from related parties)     0    
Trading securities     0    
Available-for-sale securities, at fair value     0    
Margin lending, brokerage and other receivables, net (including $294,985 and $107,649 from related parties)     (20)    
Loans issued     0    
Fixed assets, net     0    
Intangible assets, net     0    
Goodwill, net of impairment     0    
Right-of-use asset     0    
Insurance contract assets     0    
Other assets, net (including $16,089 and $— from related party)     0    
Assets held for sale     0    
Total assets     (102)    
LIABILITIES AND SHAREHOLDERS' EQUITY          
Securities repurchase agreement obligations     0    
Customer liabilities (including $130,210 and $325,904 from related parties)     (82)    
Margin lending and trade payables (including $3,239 and $38,889 to related parties)     (20)    
Liabilities from insurance activity     0    
Current income tax liability     0    
Securities sold, not yet purchased – at fair value     0    
Debt securities issued     0    
Lease liability     0    
Liability arising from continuing involvement     0    
Other liabilities     0    
Liabilities held for sale     0    
Total liabilities     (102)    
Commitments and Contingent Liabilities (Note 31)     0    
Equity [Abstract]          
Preferred stock - $0.001 par value; $20,000,000 shares authorized, no shares issued or outstanding     0    
Common stock - $0.001 par value; 500,000,000 shares authorized; 59,659,191 and 59,542,212 shares issued and outstanding as of March 31, 2023 and March 31, 2022, respectively     (15,577)    
Additional paid in capital     16,907    
Retained earnings     (1,294)    
Accumulated other comprehensive loss     (36)    
TOTAL FRHC SHAREHOLDERS’ EQUITY     0    
Non-controlling interest     0    
TOTAL SHAREHOLDERS' EQUITY     0    
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY     $ (102)