Annual report pursuant to Section 13 and 15(d)

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

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RECAST - Condensed Consolidated Statement of Operations and Other Comprehensive Income (Details) - USD ($)
$ in Thousands
 12 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Mar. 31, 2022
Revenue:      
Fee and commission income $ 440,333 $ 327,215 $ 335,211
Net gain/(loss) on trading securities 133,854 71,084 155,252
Interest income 828,224 294,695 121,609
Insurance underwriting income 264,218 115,371 72,981
Net gain on foreign exchange operations 72,245 52,154 3,791
Net gain on derivatives (103,794) (64,826) 946
TOTAL REVENUE, NET 1,635,080 795,693 689,790
Expense:      
Fee and commission expense 154,351 65,660 85,909
Interest expense 501,111 208,947 76,947
Insurance claims incurred, net of reinsurance 139,561 77,329 54,447
Payroll and bonuses 181,023 81,819 46,288
Professional services 34,238 17,006 12,682
Stock compensation expense 22,719 9,293 7,859
Advertising expense 38,327 14,059 11,916
General and administrative expense 120,888 59,971 23,533
Allowance for expected credit losses     2,502
Other expense/(income), net     4,014
TOTAL EXPENSE 1,199,709 559,755 326,097
INCOME BEFORE INCOME TAX 435,371 235,938 363,693
Income tax (expense)/benefit (60,419) (42,776) (38,570)
INCOME FROM CONTINUING OPERATIONS 374,952 193,162 325,123
Income/(loss) before income tax (expense)/benefit of discontinued operations 0 68,160 (117,199)
Income tax benefit of discontinued operations     13,004
Income/(loss) from discontinued operations 0 12,424 (104,195)
NET INCOME 374,952 205,586 220,928
Less: Net (loss)/income attributable to non-controlling interest in subsidiary (588) 446 (6,566)
NET INCOME ATTRIBUTABLE TO CONTROLLING INTEREST 375,540 205,140 227,494
Change in unrealized gain on investments available-for-sale, net of tax effect 6,196 1,431 (4,292)
Reclassification adjustment for net realized gain on available-for-sale investments disposed of in the period, net of tax effect     2,222
Foreign currency translation adjustments 12,075 5,195 (20,622)
OTHER COMPREHENSIVE (LOSS)/INCOME     (22,692)
COMPREHENSIVE INCOME BEFORE NON-CONTROLLING INTERESTS 390,014 234,711 198,236
Less: Comprehensive (loss)/income attributable to non-controlling interest in subsidiary (588) 446 (6,566)
COMPREHENSIVE INCOME ATTRIBUTABLE TO CONTROLLING INTEREST $ 390,602 $ 234,265 204,802
As previously reported      
Revenue:      
Fee and commission income     335,444
Net gain/(loss) on trading securities     156,345
Interest income     90,153
Insurance underwriting income     0
Net gain on foreign exchange operations     1,979
Net gain on derivatives     946
TOTAL REVENUE, NET     584,867
Expense:      
Fee and commission expense     73,243
Interest expense     65,449
Insurance claims incurred, net of reinsurance     0
Payroll and bonuses     39,779
Professional services     12,123
Stock compensation expense     7,859
Advertising expense     10,059
General and administrative expense     18,744
Allowance for expected credit losses     2,206
Other expense/(income), net     1,312
TOTAL EXPENSE     230,774
INCOME BEFORE INCOME TAX     354,093
Income tax (expense)/benefit     (38,529)
INCOME FROM CONTINUING OPERATIONS     315,564
Income/(loss) before income tax (expense)/benefit of discontinued operations     (117,199)
Income tax benefit of discontinued operations     13,004
Income/(loss) from discontinued operations     (104,195)
NET INCOME     211,369
Less: Net (loss)/income attributable to non-controlling interest in subsidiary     (6,566)
NET INCOME ATTRIBUTABLE TO CONTROLLING INTEREST     217,935
Change in unrealized gain on investments available-for-sale, net of tax effect     0
Reclassification adjustment for net realized gain on available-for-sale investments disposed of in the period, net of tax effect     0
Foreign currency translation adjustments     (17,245)
OTHER COMPREHENSIVE (LOSS)/INCOME     (17,245)
COMPREHENSIVE INCOME BEFORE NON-CONTROLLING INTERESTS     194,124
Less: Comprehensive (loss)/income attributable to non-controlling interest in subsidiary     (6,566)
COMPREHENSIVE INCOME ATTRIBUTABLE TO CONTROLLING INTEREST     200,690
ASC 326 Adoption Impact | FF Life acquisition      
Revenue:      
Fee and commission income     0
Net gain/(loss) on trading securities     (1,283)
Interest income     23,027
Insurance underwriting income     60,526
Net gain on foreign exchange operations     1,615
Net gain on derivatives     0
TOTAL REVENUE, NET     83,885
Expense:      
Fee and commission expense     12,289
Interest expense     5,194
Insurance claims incurred, net of reinsurance     42,606
Payroll and bonuses     3,624
Professional services     106
Stock compensation expense     0
Advertising expense     0
General and administrative expense     3,516
Allowance for expected credit losses     0
Other expense/(income), net     2,708
TOTAL EXPENSE     70,043
INCOME BEFORE INCOME TAX     13,842
Income tax (expense)/benefit     (54)
INCOME FROM CONTINUING OPERATIONS     13,788
Income/(loss) before income tax (expense)/benefit of discontinued operations     0
Income tax benefit of discontinued operations     0
Income/(loss) from discontinued operations     0
NET INCOME     13,788
Less: Net (loss)/income attributable to non-controlling interest in subsidiary     0
NET INCOME ATTRIBUTABLE TO CONTROLLING INTEREST     13,788
Change in unrealized gain on investments available-for-sale, net of tax effect     (4,292)
Reclassification adjustment for net realized gain on available-for-sale investments disposed of in the period, net of tax effect     2,222
Foreign currency translation adjustments     (2,014)
OTHER COMPREHENSIVE (LOSS)/INCOME     (4,084)
COMPREHENSIVE INCOME BEFORE NON-CONTROLLING INTERESTS     9,704
Less: Comprehensive (loss)/income attributable to non-controlling interest in subsidiary     0
COMPREHENSIVE INCOME ATTRIBUTABLE TO CONTROLLING INTEREST     9,704
ASC 326 Adoption Impact | FF Life acquisition | Eliminations      
Revenue:      
Fee and commission income     0
Net gain/(loss) on trading securities     0
Interest income     0
Insurance underwriting income     0
Net gain on foreign exchange operations     0
Net gain on derivatives     0
TOTAL REVENUE, NET     0
Expense:      
Fee and commission expense     0
Interest expense     0
Insurance claims incurred, net of reinsurance     0
Payroll and bonuses     0
Professional services     0
Stock compensation expense     0
Advertising expense     0
General and administrative expense     0
Allowance for expected credit losses     0
Other expense/(income), net     0
TOTAL EXPENSE     0
INCOME BEFORE INCOME TAX     0
Income tax (expense)/benefit     0
INCOME FROM CONTINUING OPERATIONS     0
Income/(loss) before income tax (expense)/benefit of discontinued operations     0
Income tax benefit of discontinued operations     0
Income/(loss) from discontinued operations     0
NET INCOME     0
Less: Net (loss)/income attributable to non-controlling interest in subsidiary     0
NET INCOME ATTRIBUTABLE TO CONTROLLING INTEREST     0
Change in unrealized gain on investments available-for-sale, net of tax effect     0
Reclassification adjustment for net realized gain on available-for-sale investments disposed of in the period, net of tax effect     0
Foreign currency translation adjustments     0
OTHER COMPREHENSIVE (LOSS)/INCOME     0
COMPREHENSIVE INCOME BEFORE NON-CONTROLLING INTERESTS     0
Less: Comprehensive (loss)/income attributable to non-controlling interest in subsidiary     0
COMPREHENSIVE INCOME ATTRIBUTABLE TO CONTROLLING INTEREST     0
ASC 326 Adoption Impact | FF Insurance acquisition      
Revenue:      
Fee and commission income     83
Net gain/(loss) on trading securities     190
Interest income     8,429
Insurance underwriting income     12,455
Net gain on foreign exchange operations     197
Net gain on derivatives     0
TOTAL REVENUE, NET     21,354
Expense:      
Fee and commission expense     693
Interest expense     6,304
Insurance claims incurred, net of reinsurance     11,841
Payroll and bonuses     2,885
Professional services     453
Stock compensation expense     0
Advertising expense     1,857
General and administrative expense     1,273
Allowance for expected credit losses     296
Other expense/(income), net     (6)
TOTAL EXPENSE     25,596
INCOME BEFORE INCOME TAX     (4,242)
Income tax (expense)/benefit     13
INCOME FROM CONTINUING OPERATIONS     (4,229)
Income/(loss) before income tax (expense)/benefit of discontinued operations     0
Income tax benefit of discontinued operations     0
Income/(loss) from discontinued operations     0
NET INCOME     (4,229)
Less: Net (loss)/income attributable to non-controlling interest in subsidiary     0
NET INCOME ATTRIBUTABLE TO CONTROLLING INTEREST     (4,229)
Change in unrealized gain on investments available-for-sale, net of tax effect     0
Reclassification adjustment for net realized gain on available-for-sale investments disposed of in the period, net of tax effect     0
Foreign currency translation adjustments     (1,363)
OTHER COMPREHENSIVE (LOSS)/INCOME     (1,363)
COMPREHENSIVE INCOME BEFORE NON-CONTROLLING INTERESTS     (5,592)
Less: Comprehensive (loss)/income attributable to non-controlling interest in subsidiary     0
COMPREHENSIVE INCOME ATTRIBUTABLE TO CONTROLLING INTEREST     (5,592)
ASC 326 Adoption Impact | FF Insurance acquisition | Eliminations      
Revenue:      
Fee and commission income     (316)
Net gain/(loss) on trading securities     0
Interest income     0
Insurance underwriting income     0
Net gain on foreign exchange operations     0
Net gain on derivatives     0
TOTAL REVENUE, NET     (316)
Expense:      
Fee and commission expense     (316)
Interest expense     0
Insurance claims incurred, net of reinsurance     0
Payroll and bonuses     0
Professional services     0
Stock compensation expense     0
Advertising expense     0
General and administrative expense     0
Allowance for expected credit losses     0
Other expense/(income), net     0
TOTAL EXPENSE     (316)
INCOME BEFORE INCOME TAX     0
Income tax (expense)/benefit     0
INCOME FROM CONTINUING OPERATIONS     0
Income/(loss) before income tax (expense)/benefit of discontinued operations     0
Income tax benefit of discontinued operations     0
Income/(loss) from discontinued operations     0
NET INCOME     0
Less: Net (loss)/income attributable to non-controlling interest in subsidiary     0
NET INCOME ATTRIBUTABLE TO CONTROLLING INTEREST     0
Change in unrealized gain on investments available-for-sale, net of tax effect     0
Reclassification adjustment for net realized gain on available-for-sale investments disposed of in the period, net of tax effect     0
Foreign currency translation adjustments     0
OTHER COMPREHENSIVE (LOSS)/INCOME     0
COMPREHENSIVE INCOME BEFORE NON-CONTROLLING INTERESTS     0
Less: Comprehensive (loss)/income attributable to non-controlling interest in subsidiary     0
COMPREHENSIVE INCOME ATTRIBUTABLE TO CONTROLLING INTEREST     $ 0