2024 Q1 Form 10-K Financial Statement
#000177573424000029 Filed on July 09, 2024
Income Statement
Concept | 2024 Q1 | 2024 | 2023 |
---|---|---|---|
Revenue | -$42.96M | -$98.70M | -$104.9M |
YoY Change | -5.92% | ||
Cost Of Revenue | |||
YoY Change | |||
Gross Profit | |||
YoY Change | |||
Gross Profit Margin | |||
Selling, General & Admin | $22.72M | $115.0M | $123.8M |
YoY Change | 4269.77% | -7.08% | 7026.63% |
% of Gross Profit | |||
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | $742.0K | $3.775M | $3.606M |
YoY Change | -28.24% | 4.69% | 38.59% |
% of Gross Profit | |||
Operating Expenses | $24.83M | $2.550B | $148.3M |
YoY Change | 4676.59% | 1619.75% | 8437.89% |
Operating Profit | -$2.649B | -$253.2M | |
YoY Change | 946.14% | ||
Interest Expense | -$3.990M | $17.56M | $15.47M |
YoY Change | -337.86% | 13.5% | 44.52% |
% of Operating Profit | |||
Other Income/Expense, Net | $21.85M | $28.27M | |
YoY Change | -22.69% | ||
Pretax Income | -$194.9M | -$2.657B | -$253.2M |
YoY Change | -16933.19% | 949.64% | -2922.89% |
Income Tax | $713.0K | $788.0K | -$1.072M |
% Of Pretax Income | |||
Net Earnings | -$66.22M | -$2.096B | -$131.0M |
YoY Change | -12412.57% | 1499.97% | -1695.27% |
Net Earnings / Revenue | |||
Basic Earnings Per Share | -$1.94 | ||
Diluted Earnings Per Share | -$19.59 | -$666.50 | -$1.94 |
COMMON SHARES | |||
Basic Shares Outstanding | 67.49M shares | ||
Diluted Shares Outstanding | 67.49M shares |
Balance Sheet
Concept | 2024 Q1 | 2024 | 2023 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $7.913M | $7.913M | $8.726M |
YoY Change | 6955.1% | -9.32% | 2597.12% |
Cash & Equivalents | $7.913M | $7.913M | $8.726M |
Short-Term Investments | |||
Other Short-Term Assets | $4.054M | $4.054M | $2.329M |
YoY Change | 1885.21% | 74.07% | 934.24% |
Inventory | |||
Prepaid Expenses | |||
Receivables | |||
Other Receivables | |||
Total Short-Term Assets | $14.81M | $14.81M | $22.35M |
YoY Change | 4580.28% | -33.76% | 3973.48% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $2.328M | $2.328M | $4.344M |
YoY Change | -46.41% | -46.41% | -40.79% |
Goodwill | $13.61M | ||
YoY Change | -99.43% | ||
Intangibles | $3.100M | ||
YoY Change | 0.0% | ||
Long-Term Investments | $329.1M | $329.1M | $497.2M |
YoY Change | 52.14% | -33.81% | 134.5% |
Other Assets | $64.00K | $64.00K | $819.0K |
YoY Change | -92.19% | -92.19% | -85.15% |
Total Long-Term Assets | $353.7M | $353.7M | $2.888B |
YoY Change | 63.5% | -87.75% | 1262.22% |
TOTAL ASSETS | |||
Total Short-Term Assets | $14.81M | $14.81M | $22.35M |
Total Long-Term Assets | $353.7M | $353.7M | $2.888B |
Total Assets | $368.5M | $368.5M | $2.911B |
YoY Change | 70.09% | -87.34% | 1269.22% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $157.2M | $157.2M | $65.72M |
YoY Change | 19128.1% | 139.12% | 11223.13% |
Accrued Expenses | |||
YoY Change | |||
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $157.2M | $157.2M | $65.72M |
YoY Change | 10334.49% | 139.12% | 10178.37% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $120.5M | $120.5M | $148.8M |
YoY Change | -19.04% | ||
Other Long-Term Liabilities | $31.91M | $31.91M | $17.22M |
YoY Change | 240.46% | 85.29% | 96.1% |
Total Long-Term Liabilities | $152.4M | $152.4M | $166.1M |
YoY Change | 1526.36% | -8.22% | 1791.27% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $157.2M | $157.2M | $65.72M |
Total Long-Term Liabilities | $152.4M | $152.4M | $166.1M |
Total Liabilities | $309.6M | $602.9M | $1.518B |
YoY Change | 2745.97% | -60.3% | 16018.33% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$2.100B | ||
YoY Change | |||
Common Stock | |||
YoY Change | |||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | -$234.3M | -$234.3M | $1.392B |
YoY Change | |||
Total Liabilities & Shareholders Equity | $368.5M | $368.5M | $2.911B |
YoY Change | 70.09% | -87.34% | 1269.22% |
Cashflow Statement
Concept | 2024 Q1 | 2024 | 2023 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$66.22M | -$2.096B | -$131.0M |
YoY Change | -12412.57% | 1499.97% | -1695.27% |
Depreciation, Depletion And Amortization | $742.0K | $3.775M | $3.606M |
YoY Change | -28.24% | 4.69% | 38.59% |
Cash From Operating Activities | -$8.646M | -$58.22M | -$95.12M |
YoY Change | 3330.82% | -38.8% | 5133.97% |
INVESTING ACTIVITIES | |||
Capital Expenditures | $429.0K | $1.759M | $2.077M |
YoY Change | -4.24% | -15.31% | -59.89% |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $7.749M | $45.82M | $65.09M |
YoY Change | -481.85% | -29.62% | 5795.39% |
Cash From Investing Activities | $7.320M | $44.06M | $63.02M |
YoY Change | -460.71% | -30.09% | 5607.29% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | $1.122M | ||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | -1.965M | $12.59M | -$34.46M |
YoY Change | -194.93% | -136.54% | |
NET CHANGE | |||
Cash From Operating Activities | -8.646M | -$58.22M | -$95.12M |
Cash From Investing Activities | 7.320M | $44.06M | $63.02M |
Cash From Financing Activities | -1.965M | $12.59M | -$34.46M |
Net Change In Cash | -3.291M | -$1.568M | -$66.56M |
YoY Change | 1457.06% | -97.64% | 9232.98% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$8.646M | -$58.22M | -$95.12M |
Capital Expenditures | $429.0K | $1.759M | $2.077M |
Free Cash Flow | -$9.075M | -$59.98M | -$97.20M |
YoY Change | 1196.41% | -38.29% | 1289.43% |
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CY2023 | us-gaap |
Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToNoncontrollingInterest
|
11226000 | usd |
CY2024 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-2095641000 | usd |
CY2023 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-130980000 | usd |
CY2023Q1 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
1728413000 | usd |
CY2024 | us-gaap |
Net Income Loss Including Portion Attributable To Nonredeemable Noncontrolling Interest
NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest
|
-2674977000 | usd |
CY2024 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
39103000 | usd |
CY2024 | us-gaap |
Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
|
116000 | usd |
CY2024 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
-4290000 | usd |
CY2024 | ben |
Noncontrolling Interest Distributions Payable To Noncontrolling Interest Holders
NoncontrollingInterestDistributionsPayableToNoncontrollingInterestHolders
|
1170000 | usd |
CY2024 | ben |
Adjustments To Additional Paid In Capital Dividends To Related Parties
AdjustmentsToAdditionalPaidInCapitalDividendsToRelatedParties
|
110000 | usd |
CY2024 | ben |
Stock Issued During The Period Value Share Based Payment Arrangement To Related Party Employees After Forfeitures
StockIssuedDuringThePeriodValueShareBasedPaymentArrangementToRelatedPartyEmployeesAfterForfeitures
|
110000 | usd |
CY2024 | us-gaap |
Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
|
4070000 | usd |
CY2024 | ben |
Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Transfer Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForTransferOfSecuritiesNetOfTax
|
13694000 | usd |
CY2024 | ben |
Temporary Equity Deemed Dividends
TemporaryEquityDeemedDividends
|
0 | usd |
CY2024 | ben |
Temporary Equity Cash Redemption Value Preferred
TemporaryEquityCashRedemptionValuePreferred
|
1413000 | usd |
CY2024 | ben |
Stock Issued During The Period Value Issued For Receivable From Shareholders Or Affiliates For Issuance Of Capital Stock
StockIssuedDuringThePeriodValueIssuedForReceivableFromShareholdersOrAffiliatesForIssuanceOfCapitalStock
|
20038000 | usd |
CY2024 | us-gaap |
Reclassifications Of Temporary To Permanent Equity
ReclassificationsOfTemporaryToPermanentEquity
|
699441000 | usd |
CY2024 | us-gaap |
Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
|
269000 | usd |
CY2024 | us-gaap |
Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
|
1895000 | usd |
CY2024 | us-gaap |
Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
|
0 | usd |
CY2024Q1 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
-192118000 | usd |
CY2022Q1 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
1907336000 | usd |
CY2023 | us-gaap |
Net Income Loss Including Portion Attributable To Nonredeemable Noncontrolling Interest
NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest
|
-263624000 | usd |
CY2023 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
10085000 | usd |
CY2023 | us-gaap |
Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
|
1125000 | usd |
CY2023 | us-gaap |
Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
|
131000 | usd |
CY2023 | us-gaap |
Noncontrolling Interest Increase From Subsidiary Equity Issuance
NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance
|
11973000 | usd |
CY2023 | ben |
Noncontrolling Interest Distributions Payable To Noncontrolling Interest Holders
NoncontrollingInterestDistributionsPayableToNoncontrollingInterestHolders
|
1719000 | usd |
CY2023 | ben |
Noncontrolling Interest Increase From Cash Issuance
NoncontrollingInterestIncreaseFromCashIssuance
|
2430000 | usd |
CY2023 | ben |
Adjustments To Additional Paid In Capital Dividends To Related Parties
AdjustmentsToAdditionalPaidInCapitalDividendsToRelatedParties
|
147000 | usd |
CY2023 | ben |
Stock Issued During The Period Value Share Based Payment Arrangement To Related Party Employees After Forfeitures
StockIssuedDuringThePeriodValueShareBasedPaymentArrangementToRelatedPartyEmployeesAfterForfeitures
|
147000 | usd |
CY2023 | ben |
Temporary Equity Deemed Dividends True Up
TemporaryEquityDeemedDividendsTrueUp
|
314000 | usd |
CY2023 | us-gaap |
Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
|
11226000 | usd |
CY2023 | ben |
Temporary Equity Deemed Dividends
TemporaryEquityDeemedDividends
|
-37133000 | usd |
CY2023 | ben |
Noncontrolling Interest Decrease From Reclassification Reclassification Of Income Loss For Preferred Stock To Payable
NoncontrollingInterestDecreaseFromReclassificationReclassificationOfIncomeLossForPreferredStockToPayable
|
933000 | usd |
CY2023 | us-gaap |
Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
|
15000 | usd |
CY2023 | ben |
Temporary Equity Cash Redemption Value Preferred
TemporaryEquityCashRedemptionValuePreferred
|
4637000 | usd |
CY2023 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
20100000 | usd |
CY2023 | ben |
Noncontrolling Interest Annual Reallocation
NoncontrollingInterestAnnualReallocation
|
0 | usd |
CY2023Q1 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
1728413000 | usd |
CY2024 | us-gaap |
Profit Loss
ProfitLoss
|
-2658180000 | usd |
CY2023 | us-gaap |
Profit Loss
ProfitLoss
|
-252100000 | usd |
CY2024 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
3775000 | usd |
CY2023 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
3606000 | usd |
CY2024 | us-gaap |
Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
|
-1250000 | usd |
CY2023 | us-gaap |
Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
|
-4478000 | usd |
CY2024 | us-gaap |
Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
|
-8846000 | usd |
CY2023 | us-gaap |
Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
|
0 | usd |
CY2024 | us-gaap |
Goodwill Impairment Loss
GoodwillImpairmentLoss
|
2354320000 | usd |
CY2023 | us-gaap |
Goodwill Impairment Loss
GoodwillImpairmentLoss
|
0 | usd |
CY2024 | us-gaap |
Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
|
-54973000 | usd |
CY2023 | us-gaap |
Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
|
0 | usd |
CY2024 | us-gaap |
Gain Loss On Investments
GainLossOnInvestments
|
-104521000 | usd |
CY2023 | us-gaap |
Gain Loss On Investments
GainLossOnInvestments
|
-51421000 | usd |
CY2024 | us-gaap |
Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
|
0 | usd |
CY2023 | us-gaap |
Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
|
12409000 | usd |
CY2024 | us-gaap |
Revenues Excluding Interest And Dividends
RevenuesExcludingInterestAndDividends
|
4791000 | usd |
CY2023 | us-gaap |
Revenues Excluding Interest And Dividends
RevenuesExcludingInterestAndDividends
|
-54010000 | usd |
CY2024 | us-gaap |
Paid In Kind Interest
PaidInKindInterest
|
17699000 | usd |
CY2023 | us-gaap |
Paid In Kind Interest
PaidInKindInterest
|
11223000 | usd |
CY2024 | us-gaap |
Interest Income Operating Paid In Kind
InterestIncomeOperatingPaidInKind
|
446000 | usd |
CY2023 | us-gaap |
Interest Income Operating Paid In Kind
InterestIncomeOperatingPaidInKind
|
359000 | usd |
CY2024 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
39103000 | usd |
CY2023 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
10085000 | usd |
CY2024 | ben |
Provision For Other Credit Losses Other Than Temporary Impairment And Trade Receivable Write Offs
ProvisionForOtherCreditLossesOtherThanTemporaryImpairmentAndTradeReceivableWriteOffs
|
6016000 | usd |
CY2023 | ben |
Provision For Other Credit Losses Other Than Temporary Impairment And Trade Receivable Write Offs
ProvisionForOtherCreditLossesOtherThanTemporaryImpairmentAndTradeReceivableWriteOffs
|
20580000 | usd |
CY2024 | us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
0 | usd |
CY2023 | us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
-1072000 | usd |
CY2024 | ben |
Write Off Of Stock Issuance Costs
WriteOffOfStockIssuanceCosts
|
0 | usd |
CY2023 | ben |
Write Off Of Stock Issuance Costs
WriteOffOfStockIssuanceCosts
|
1653000 | usd |
CY2024 | us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
-5965000 | usd |
CY2023 | us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
13013000 | usd |
CY2024 | us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
8628000 | usd |
CY2023 | us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
11236000 | usd |
CY2024 | us-gaap |
Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
|
2605000 | usd |
CY2023 | us-gaap |
Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
|
-319000 | usd |
CY2024 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-58216000 | usd |
CY2023 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-95118000 | usd |
CY2024 | us-gaap |
Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
|
46268000 | usd |
CY2023 | us-gaap |
Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
|
72551000 | usd |
CY2024 | us-gaap |
Payments To Acquire Investments
PaymentsToAcquireInvestments
|
1420000 | usd |
CY2023 | us-gaap |
Payments To Acquire Investments
PaymentsToAcquireInvestments
|
2589000 | usd |
CY2024 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
1759000 | usd |
CY2023 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
2077000 | usd |
CY2024 | ben |
Proceeds From Sale Of Put Options
ProceedsFromSaleOfPutOptions
|
968000 | usd |
CY2023 | ben |
Proceeds From Sale Of Put Options
ProceedsFromSaleOfPutOptions
|
0 | usd |
CY2024 | us-gaap |
Proceeds From Sale Of Equity Securities Fv Ni
ProceedsFromSaleOfEquitySecuritiesFvNi
|
0 | usd |
CY2023 | us-gaap |
Proceeds From Sale Of Equity Securities Fv Ni
ProceedsFromSaleOfEquitySecuritiesFvNi
|
2583000 | usd |
CY2024 | ben |
Payments For Purchase Of Put Options
PaymentsForPurchaseOfPutOptions
|
0 | usd |
CY2023 | ben |
Payments For Purchase Of Put Options
PaymentsForPurchaseOfPutOptions
|
7451000 | usd |
CY2024 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
44057000 | usd |
CY2023 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
63017000 | usd |
CY2024 | us-gaap |
Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
|
25000000 | usd |
CY2023 | us-gaap |
Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
|
0 | usd |
CY2024 | ben |
Repayments Of Loans Payable
RepaymentsOfLoansPayable
|
6780000 | usd |
CY2023 | ben |
Repayments Of Loans Payable
RepaymentsOfLoansPayable
|
17907000 | usd |
CY2024 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
1122000 | usd |
CY2023 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
0 | usd |
CY2024 | us-gaap |
Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
|
1585000 | usd |
CY2023 | us-gaap |
Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
|
0 | usd |
CY2024 | us-gaap |
Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
|
8091000 | usd |
CY2023 | us-gaap |
Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
|
6116000 | usd |
CY2024 | us-gaap |
Payments To Minority Shareholders
PaymentsToMinorityShareholders
|
269000 | usd |
CY2023 | us-gaap |
Payments To Minority Shareholders
PaymentsToMinorityShareholders
|
131000 | usd |
CY2024 | us-gaap |
Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
|
116000 | usd |
CY2023 | us-gaap |
Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
|
1125000 | usd |
CY2024 | ben |
Proceeds From Reverse Recapitalization
ProceedsFromReverseRecapitalization
|
24761000 | usd |
CY2023 | ben |
Proceeds From Reverse Recapitalization
ProceedsFromReverseRecapitalization
|
0 | usd |
CY2024 | ben |
Payments For Purchase Agreement
PaymentsForPurchaseAgreement
|
20038000 | usd |
CY2023 | ben |
Payments For Purchase Agreement
PaymentsForPurchaseAgreement
|
0 | usd |
CY2024 | us-gaap |
Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
|
0 | usd |
CY2023 | us-gaap |
Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
|
750000 | usd |
CY2024 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
12591000 | usd |
CY2023 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-34459000 | usd |
CY2024 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-1568000 | usd |
CY2023 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-66560000 | usd |
CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
9545000 | usd |
CY2022Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
76105000 | usd |
CY2024Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
7977000 | usd |
CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
9545000 | usd |
CY2024 | us-gaap |
Nature Of Operations
NatureOfOperations
|
Overview of the Business<div style="margin-top:10pt;text-align:justify"><span style="color:#231f20;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Legal Structure</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#231f20;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Beneficient, a Nevada corporation, is a technology-enabled financial services holding company (including its subsidiaries, but excluding its noncontrolling interest holders, collectively, “Ben,” “our,” “the Company,</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">”</span><span style="color:#231f20;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> or “we”) that provides simple, rapid, cost-effective liquidity solutions and trust products and services to participants in the alternative assets industry through its end-to-end online platform, Ben AltAccess (as defined below). Prior to the conversion described below, Beneficient Management, L.L.C. (“Ben Management”), a Delaware limited liability company, was Ben’s general partner and Ben was controlled by, and the exclusive and complete authority to manage the operations and affairs of Ben was granted to, Ben Management’s Board of Directors.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On June 6, 2023, the Company converted from a Delaware limited partnership to a Nevada corporation and changed its corporate name from “The Beneficient Company Group, L.P.” (“BCG”) to “Beneficient” (the “Conversion”). BCG, formerly known as Highland Consolidated Business Holdings, L.P., was formed on September 16, 2003. On June 6, 2023, following the BCG Recapitalization (as defined in Note 4) and the Conversion, the Company, as the sole member of Beneficient Company Group, L.L.C. (“Ben LLC”), adopted the First Amended and Restated Limited Liability Company Agreement of Ben LLC (the “Ben LLC A&R LLCA”). The Ben LLC A&R LLCA establishes managing member interests and non-managing members interests, referred to as the Class A Units of Ben LLC. Beneficient is designated as the sole managing member. In addition, certain additional amendments were made that principally focused on the management of Ben LLC by the managing member. After the adoption of the Ben LLC A&R LLCA, Beneficient contributed to Ben LLC all of the limited partnership interests and general partnership interests of Beneficient Company Holdings, L.P. (“BCH”) held by Beneficient (the “Contribution”), and Ben LLC became the general partner of BCH and the holder of 100% of the outstanding Class A Units of BCH.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On June 7, 2023, in accordance with the Business Combination Agreement, dated September 21, 2022 and amended April 18, 2023, with Avalon Acquisition, Inc. (“Avalon”), (the “Business Combination Agreement,” and the transactions contemplated thereby, collectively, the “Business Combination”), the Company completed its previously announced de-SPAC merger transaction (the “Transaction”) with Avalon. On June 8, 2023, Beneficient began trading on the Nasdaq Global Market. See Note 4 for additional disclosures related to the Conversion and Transaction.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#231f20;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">BCH is a Delaware limited partnership formed on July 1, 2010. BCH is primarily a holding company that directly or indirectly receives all active and passive income of the Company and allocates that income among the partnership interests issued by BCH. As of March 31, 2024, BCH has issued and outstanding general partnership Subclass 1 Class A Units (“BCH Class A Units”), </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Class S Ordinary Units of BCH (the “BCH Class S Ordinary Units”)</span><span style="color:#231f20;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Class S Preferred Units of BCH (the “BCH Class S Preferred Units”)</span><span style="color:#231f20;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, FLP Unit Accounts (Subclass 1, Subclass 2, and Subclass 3), Preferred Series A Subclass 0 Unit Accounts (“BCH Preferred A.0”), and Preferred Series A Subclass 1 Unit Accounts (“BCH Preferred A.1”).</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Business Overview</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#231f20;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Ben markets an array of liquidity, trustee, and trust administration products and services to alternative asset investors primarily comprised of </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">mid-to-high net worth (“MHNW”) individual investors (generally those with a net worth of $5.0 million to $30.0 million), small-to-midsize institutional (“STMI”) investors, family offices (“FAMOs”) and fund general partners and sponsors (“GPs” and together with MHNW individuals, STMI investors and FAMOs, “Customers”). Ben provides Customers seeking an early exit from their alternative asset investments a suite of bespoke liquidity solutions for their otherwise illiquid alternative asset investments through a proprietary financing and trust structure, which we implement for our customers (we refer to such trusts collectively as the “Customer ExAlt Trusts”). We plan to offer comprehensive alternative asset trust and custody services, and novel insurance products covering risks attendant to owning, managing and transferring alternative assets, and additional broker-dealer services in connection with our liquidity products and services.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#231f20;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Ben’s primary operations, which commenced on September 1, 2017, relate to its liquidity and trust administration products and services. Ben offers or plans to offer its products and services through its operating subsidiaries, which include: (i) Ben AltAccess, L.L.C., a Delaware limited liability company (“Ben AltAccess”), which offers an online platform designed to provide a digital experience for Customers seeking liquidity, custody, trust and data services for their alternative assets, (ii) Ben Liquidity, L.L.C., a Delaware limited liability company, and its subsidiaries (collectively, “Ben Liquidity”), which offers liquidity products; (iii) Ben Custody, L.L.C., a Delaware limited liability company, and its subsidiaries (collectively, “Ben Custody”), which provides services for private fund, trustee, and trust administration; (iv) Ben Data, L.L.C., a Delaware limited liability company (“Ben Data”), which provides data analytics and evaluation services, (v) Ben Markets L.L.C., including its subsidiaries (“Ben Markets”), was recently launched and intends to provide broker-dealer services and transfer </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#231f20;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">agency services in connection with offering Ben’s products and services; and (vi) Ben Insurance, L.L.C., including its subsidiaries (“Ben Insurance Services”), which intends to offer insurance products and services covering risks attendant to owning, managing and transferring alternative assets. Ben serves as trustee of certain of the Customer ExAlt Trusts, which operate for the benefit of the Charities (defined below) and Economic Growth Zones (defined below).</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#231f20;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Ben Liquidity offers simple, rapid and cost-effective liquidity products to its Customers through the use of the Customer ExAlt Trusts, which facilitate the exchange of a Customer’s alternative assets for consideration using a proprietary financing and trust structure (such structure and related process, the “ExAlt Plan</span><span style="color:#231f20;font-family:'Times New Roman',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">TM</span><span style="color:#231f20;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">”). In ExAlt Plan</span><span style="color:#231f20;font-family:'Times New Roman',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">TM</span><span style="color:#231f20;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> financings, a subsidiary of Ben Liquidity, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Beneficient Fiduciary Financial, L.L.C. (“BFF”), a Kansas based trust company that provides fiduciary financing to fidfin trusts, </span><span style="color:#231f20;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">makes fiduciary loans (each, an “ExAlt Loan”) to certain of the Customer ExAlt Trusts, which in turn employ a portion of the loan proceeds to acquire and deliver agreed upon consideration to the Customer, in exchange for their alternative assets. BFF is registered as a chartered Kansas Technology Enabled Fiduciary Financial Institution (“TEFFI”) </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">under the Technology-Enabled Fiduciary Financial Institution Act (the “TEFFI Act”) and regulated by the Kansas Office of the State Bank Commissioner (“OSBC”). Only BFF, our subsidiary, is regulated by the OSBC. The OSBC does not regulate the entirety of Ben. </span><span style="color:#231f20;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Ben Liquidity generates interest and fee income earned in connection with the ExAlt Loans, which are collateralized by a portion of the cash flows from the exchanged alternative assets, then owned by Customer ExAlt Trusts (the “Collateral”). The ExAlt Loans </span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">are eliminated upon consolidation of the Customer ExAlt Trusts solely for financial reporting purposes.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#231f20;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Under the applicable trust and other agreements, certain Texas and Kansas charities are the ultimate beneficiaries of the Customer ExAlt Trusts (which we refer to as “Charities” or “Economic Growth Zones” respectively, and collectively, the “Charitable Beneficiaries”), and their interests are reported as noncontrolling interests in our consolidated financial statements. The TEFFI Act requires that two and a half percent (2.5%) of </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">the cash distributions from alternative assets serving as collateral to Ben Liquidity loans be charitably contributed by certain of the Customer ExAlt Trusts to a designated Kansas Economic Growth Zone</span><span style="color:#231f20;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. Accordingly, for ExAlt Loans originated on or after December 7, 2021, Economic Growth Zones are paid $0.025 for every $1.00 received by an ExAlt Trust from the corresponding alternative assets. For ExAlt Loans originated prior to December 7, 2021, in accordance with the terms of the applicable trust and other agreements, the Charitable Beneficiaries of the Customer ExAlt Trusts formed prior to such date, are paid $0.05 for every $0.95 paid to the applicable ExAlt Loan lender.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#231f20;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Ben Custody currently provides full-service trust and custody administration services to the trustees (including BFF) of certain of the Customer ExAlt Trusts, which own the exchanged alternative assets following liquidity transactions in exchange for fees payable quarterly.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Customer ExAlt Trusts’ e</span><span style="color:#231f20;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">arnings on its alternative assets supports the repayment of the ExAlt Loans plus any related interest and fees. Since Ben consolidates the Customer ExAlt Trusts, Ben Liquidity’s ExAlt Loans and related interest and fee income and provision for credit losses and Ben Custody’s fee income are eliminated in the presentation of our consolidated financial statements solely for financial reporting purposes; however, such amounts directly impact the allocation of income (loss) to Ben’s or BCH’s equity holders. Likewise, the amounts expensed by the Customer ExAlt Trusts for interest and fees owed to Ben’s operating subsidiaries are eliminated in the presentation of our consolidated financial statements, but are recognized for purposes of the allocation of income (loss) to the beneficial owners of the Customer ExAlt Trusts. Refer to Note </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">3</span><span style="color:#231f20;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> for additional information.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#231f20;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Ben’s existing and planned products and services are designed to be delivered digitally and provide liquidity, trust and custody solutions, data analytics and news, support the tax and estate planning objectives of its Customers, facilitate asset diversification and provide administrative management and reporting solutions tailored to the goals of investors of alternative investments. While Ben’s financial products and services are presently offered through Ben Liquidity and Ben Custody, Ben plans to expand its capabilities under Ben Custody and provide additional products and services through Ben Insurance Services and Ben Markets in the future. </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Ben Insurance Services, through two subsidiaries, PEN Indemnity Insurance Company, Ltd. (“PEN”), which has been chartered as a Bermuda based insurance company, and Beneficient Insurance Company, L.L.C. (“BIC”), an entity through which the Company has applied to become a Kansas captive property and casualty insurer, plans to offer to affiliated Customer ExAlt Trusts certain customized insurance products and services covering risks relating to owning, managing and transferring alternative assets. Ben Markets, through one of its subsidiaries, Ben Markets Management Holdings, L.P., received regulatory approval to acquire, and subsequently acquired, a captive registered broker-dealer, Beneficient Securities Company, L.P., an entity that will conduct its activities attendant to offering a suite of products and services from the Ben family of companies. Ben Markets, through another of its subsidiaries, Beneficient Transfer & Clearing Company, L.L.C., also received regulatory approval from the SEC</span><span style="color:#231f20;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> on June 24, 2022 </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">to operate as a registered transfer agent with respect to its securities, and intends to provide various services for customers transacting with Ben, including the Customer ExAlt Trusts.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As discussed further in Note 3, certain of our operating subsidiary products and services involve or are offered to certain of the Customer ExAlt Trusts, which are consolidated subsidiaries of Ben solely for financial reporting purposes, and therefore transactions between our operating subsidiaries and the Customer ExAlt Trusts are eliminated in the presentation of our consolidated financial statements.</span></div><div style="margin-top:6pt;text-align:justify"><span style="background-color:#ffffff;color:#231f20;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Regulatory Developments</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#231f20;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">PEN has been registered and licensed as a Class 3 insurer under the Bermuda Insurance Act of 1978, and Ben plans to seek approval from the Bermuda authorities for PEN to become operational. Pending approval from the Bermuda authorities, if approval is sought, PEN would write primary and re-insurance policies consistent with policies that would be underwritten domestically by BIC and fiduciary liability policies for managers and investors in alternative asset funds to cover losses from contractual indemnification and exculpation provisions arising under the governing documents of such funds.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#231f20;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On December 9, 2022, BIC submitted an application, which remains under review by the Kansas Insurance Department, to become a Kansas captive property and casualty insurer.</span></div><div style="margin-top:6pt;text-align:justify"><span style="background-color:#ffffff;color:#231f20;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On March 28, 2022, a subsidiary of Ben Markets completed its 100% acquisition of MHT Securities, L.P. (“MHT Securities”), for $0.3 million. MHT Securities is an SEC-registered broker dealer and Financial Industry Regulation Authority (“FINRA”) member that is authorized to engage in private placements of securities. On May 3, 2022, FINRA issued its full approval of the change in ownership and MHT Securities’ name was changed to Beneficient Securities Company, L.P. and then subsequently the name was changed to AltAccess Securities Company, L.P. Since May 3, 2022, AltAccess Securities Company, L.P. has been registered as a securities broker-dealer with the SEC, FINRA, and certain states as determined by its business operations.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Liquidity and Going Concern</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company's consolidated financial statements are prepared in accordance with generally accepted accounting principles applicable to a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business.</span><span style="color:#000000;font-family:'Aptos',sans-serif;font-size:11pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of March 31, 2024, we had unrestricted cash and cash equivalents of $7.9 million. Besides the unrestricted cash and cash equivalents, the Company’s principal sources of liquidity available to meet its contractual obligations are proceeds on ExAlt Loan payments and fee income derived from distributions on investments held by the Customer ExAlt Trusts and potential access to capital under the SEPA, however, our ability to access the cash distributions from the Customer ExAlt Trusts’ alternative asset portfolio is limited by the terms of the ExAlt Loans from Ben Liquidity to the Customer ExAlt Trusts and our ability to access proceeds from SEPA is subject to market conditions, such as trading volume, price of our Class A Common Stock and other factors beyond our control. For the years ended March 31, 2024 and 2023, we generated net losses totaling $2.7 billion and $252.1 million, respectively, which have resulted in an accumulated deficit of $2.1 billion as of March 31, 2024. In April 2024, $55 million in compensatory damages was assessed against the Company during a private arbitration. As of May 31, 2024, we had unrestricted cash and cash equivalents of approximately $6.4 million. All of these conditions raised substantial doubt about the Company’s ability to continue as a going concern within one year after the date of issuance.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We expect that the Company will require additional capital by issuing additional debt or equity to satisfy our obligations and fund our operations for the next twelve months, especially in light of the $55 million arbitration award against the Company. We continue to work with the claimant in the arbitration on settlement terms that could reduce the potential near term cash obligations associated with the arbitration. Also, we intend to potentially refinance some or all of the existing borrowings, including approximately $23.4 million of certain outstanding borrowing maturing in the remainder of fiscal year 2025, prior to their maturity, with either our current lenders or other lenders, continue to seek opportunities to reduce corporate overhead, and intend to raise capital through equity or debt investments in us by third parties, including through the SEPA, however, we cannot conclude these are probable of being implemented or, if probable of being implemented, being in sufficient enough amounts to satisfy our contractual amounts as they presently exist that are coming due over the next 12 months as of the date of such filing.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On June 27, 2023, we entered into a Standby Equity Purchase Agreement (the “SEPA”) with YA II PN, Ltd. (“Yorkville”), whereby we have the right, but not the obligation, to sell to Yorkville up to $250.0 million of shares of the Company’s common stock. On June 20, 2024, the Company obtained stockholder approval pursuant to Nasdaq Listing Rule 5635(d) for the issuance of shares of Class A common stock to Yorkville in excess of the Exchange Cap. As a result, the Company may issue up to an aggregate of approximately $246.3 million worth of shares of Class A common stock following registration with the SEC. However, the decision regarding future sale of shares, including those under the SEPA, is subject to market conditions, such as trading volume, price of our Class A Common Stock and other factors beyond our control.</span></div><div style="margin-top:6pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As more fully described in Note 11, on October 19, 2023, we entered into a three-year $25.0 million term loan with HH-BDH LLC, which was fully drawn upon closing and, the proceeds of which were used or are intended to be used to repay certain outstanding obligations, fund development of our products, and provide additional working capital. The HH-BDH Credit </span></div><div style="margin-top:6pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Agreement contains certain financial maintenance covenants, including a debt service coverage ratio. If any of these limitations were to materially impede the flow of cash to us, our ability to service and repay our debt would be materially and adversely affected.</span></div><div style="margin-top:6pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Ben may not be able to refinance our indebtedness or obtain additional financing on terms favorable to the Company, or at all. To the extent that Ben or its subsidiaries raise additional capital through the future sale of equity or debt, the ownership interest of our existing equity holders may be diluted. The terms of these future equity or debt securities may include liquidation or other preferences that adversely affect the rights of our existing equity unitholders or involve negative covenants that restrict Ben’s ability to take specific actions, such as incurring additional debt or making additional investments in growing the operations of the Company. If Ben defaults on these borrowings, then the Company will be required to either (i) sell participation or other interests in our loans or other of our assets, or (ii) to raise additional capital through the sale of equity and the ownership interest of our equity holders may be diluted.</span></div><div style="margin-top:6pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We will utilize our cash flows toward our contractual obligations, to invest in our business, including new product initiatives and growth strategies, including any potential acquisitions, and, if determined by our Board, to pay dividends to our equity holders, including guaranteed payments on certain of BCH’s preferred equity securities, and to fund tax distributions for certain noncontrolling interest holders. Our ability to fund these capital needs will depend on our ongoing ability to generate cash from operations and via the capital markets. </span></div><div style="margin-top:6pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">While we have concluded that there is substantial doubt about our ability to continue as a going concern, our financial statements have been prepared on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. The accompanying consolidated financial statements do not include any adjustments related to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might result from the outcome of this uncertainty related to the Company’s ability to continue as a going concern.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Operating Cost Reduction Plan</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On July 11, 2023, Beneficient’s board of directors (the “Board”) approved certain measures to reduce the operating expenses of the Company with a view toward focusing resources on areas of current business needs. As part of this plan, we commenced the furlough of approximately 30 employees, representing approximately 20% of our workforce as of July 11, 2023. We also implemented a reduction in spending with third-party vendors in certain parts of our business as part of the plan to reduce operating expenses. </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Effective November 3, 2023, the Board approved additional measures to reduce the operating expenses of the Company, including the termination of the previously furloughed employees and the layoff of an additional 15 employees, representing approximately an additional 10% of our workforce as of November 3, 2023. We continue to focus efforts on reducing spending with third-party vendors in certain parts of our business as part of the plan to further reduce operating expenses.</span></div> | |
CY2024Q1 | ben |
Charitable Contribution Required Percent
CharitableContributionRequiredPercent
|
0.025 | |
CY2021Q4 | ben |
Loan Repayment Portion Allocated To Noncontrolling Interest Holders
LoanRepaymentPortionAllocatedToNoncontrollingInterestHolders
|
0.025 | |
CY2021Q4 | ben |
Loan Repayment Portion Allocated To Lender
LoanRepaymentPortionAllocatedToLender
|
1.00 | |
CY2021Q4 | ben |
Loan Repayment Portion Allocated To Noncontrolling Interest Holders
LoanRepaymentPortionAllocatedToNoncontrollingInterestHolders
|
0.05 | |
CY2021Q4 | ben |
Loan Repayment Portion Allocated To Lender
LoanRepaymentPortionAllocatedToLender
|
0.95 | |
CY2024Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
7900000 | usd |
CY2024 | us-gaap |
Profit Loss
ProfitLoss
|
-2700000000 | usd |
CY2023 | us-gaap |
Profit Loss
ProfitLoss
|
-252100000 | usd |
CY2024Q1 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-2100000000 | usd |
CY2024 | us-gaap |
Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
|
-55000000 | usd |
CY2024 | us-gaap |
Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
|
-55000000 | usd |
CY2024Q1 | us-gaap |
Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
|
23400000 | usd |
CY2023Q3 | us-gaap |
Restructuring And Related Cost Number Of Positions Eliminated
RestructuringAndRelatedCostNumberOfPositionsEliminated
|
30 | employee |
CY2023Q3 | us-gaap |
Restructuring And Related Cost Number Of Positions Eliminated Period Percent
RestructuringAndRelatedCostNumberOfPositionsEliminatedPeriodPercent
|
0.20 | |
CY2023Q4 | us-gaap |
Restructuring And Related Cost Number Of Positions Eliminated
RestructuringAndRelatedCostNumberOfPositionsEliminated
|
15 | employee |
CY2023Q4 | us-gaap |
Restructuring And Related Cost Number Of Positions Eliminated Period Percent
RestructuringAndRelatedCostNumberOfPositionsEliminatedPeriodPercent
|
0.10 | |
CY2024 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<div style="margin-top:6pt;text-align:justify"><span style="color:#231f20;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Use of Estimates</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#231f20;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of the Company’s consolidated financial statements in conformity with U.S. GAAP requires management to make certain estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. These estimates and assumptions are based on information available as of the date of the consolidated financial statements and could differ from actual results. Material estimates that are particularly susceptible to change in the near term relate to the fair value determination of investments in alternative assets held by the Customer ExAlt Trusts, determination of the allowance for credit losses as an input to the allocation of income (loss) to Ben’s or BCH’s equity holders, the allocation of income (loss) to Ben’s and BCH’s equity holders, evaluation of potential loss contingencies principally related to ongoing legal matters, and evaluation of potential impairment of goodwill and other intangibles.</span></div> | |
CY2024 | ben |
Provision For Other Credit Losses Other Than Temporary Impairment And Trade Receivable Write Offs Available For Sale Debt Securities
ProvisionForOtherCreditLossesOtherThanTemporaryImpairmentAndTradeReceivableWriteOffsAvailableForSaleDebtSecurities
|
0 | usd |
CY2023 | ben |
Provision For Other Credit Losses Other Than Temporary Impairment And Trade Receivable Write Offs Available For Sale Debt Securities
ProvisionForOtherCreditLossesOtherThanTemporaryImpairmentAndTradeReceivableWriteOffsAvailableForSaleDebtSecurities
|
12600000 | usd |
CY2024 | ben |
Provision For Other Credit Losses Other Than Temporary Impairment And Trade Receivable Write Offs Available For Sale Debt Securities
ProvisionForOtherCreditLossesOtherThanTemporaryImpairmentAndTradeReceivableWriteOffsAvailableForSaleDebtSecurities
|
0 | usd |
CY2023 | ben |
Provision For Other Credit Losses Other Than Temporary Impairment And Trade Receivable Write Offs Available For Sale Debt Securities
ProvisionForOtherCreditLossesOtherThanTemporaryImpairmentAndTradeReceivableWriteOffsAvailableForSaleDebtSecurities
|
12621000 | usd |
CY2024 | ben |
Provision For Other Credit Losses Other Than Temporary Impairment And Trade Receivable Write Offs Related Party Receivable
ProvisionForOtherCreditLossesOtherThanTemporaryImpairmentAndTradeReceivableWriteOffsRelatedPartyReceivable
|
0 | usd |
CY2023 | ben |
Provision For Other Credit Losses Other Than Temporary Impairment And Trade Receivable Write Offs Related Party Receivable
ProvisionForOtherCreditLossesOtherThanTemporaryImpairmentAndTradeReceivableWriteOffsRelatedPartyReceivable
|
6723000 | usd |
CY2024 | ben |
Provision For Other Credit Losses Other Than Temporary Impairment And Trade Receivable Write Offs Other Receivables
ProvisionForOtherCreditLossesOtherThanTemporaryImpairmentAndTradeReceivableWriteOffsOtherReceivables
|
6016000 | usd |
CY2023 | ben |
Provision For Other Credit Losses Other Than Temporary Impairment And Trade Receivable Write Offs Other Receivables
ProvisionForOtherCreditLossesOtherThanTemporaryImpairmentAndTradeReceivableWriteOffsOtherReceivables
|
1236000 | usd |
CY2024 | ben |
Provision For Other Credit Losses Other Than Temporary Impairment And Trade Receivable Write Offs
ProvisionForOtherCreditLossesOtherThanTemporaryImpairmentAndTradeReceivableWriteOffs
|
6016000 | usd |
CY2023 | ben |
Provision For Other Credit Losses Other Than Temporary Impairment And Trade Receivable Write Offs
ProvisionForOtherCreditLossesOtherThanTemporaryImpairmentAndTradeReceivableWriteOffs
|
20580000 | usd |
CY2023Q2 | us-gaap |
Financing Receivable Allowance For Credit Losses Period Increase Decrease
FinancingReceivableAllowanceForCreditLossesPeriodIncreaseDecrease
|
61100000 | usd |
CY2024 | ben |
Noncontrolling Interest In Guaranteed Payment
NoncontrollingInterestInGuaranteedPayment
|
16793000 | usd |
CY2023 | ben |
Noncontrolling Interest In Guaranteed Payment
NoncontrollingInterestInGuaranteedPayment
|
15822000 | usd |
CY2024 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-2095641000 | usd |
CY2023 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-130980000 | usd |
CY2024 | ben |
Business Combination Anniversary Of Closing Date
BusinessCombinationAnniversaryOfClosingDate
|
P10Y | |
CY2023Q2 | ben |
Conversion Of Stock Discount Rate
ConversionOfStockDiscountRate
|
0.20 | |
CY2023Q2 | ben |
Conversion Of Stock Price Per Share Valuation
ConversionOfStockPricePerShareValuation
|
800.00 | |
CY2023Q2 | ben |
Conversion Of Stock Price Per Share Valuation Discounted
ConversionOfStockPricePerShareValuationDiscounted
|
640.00 | |
CY2023Q2 | ben |
Capital Transaction Net Proceeds Received On Acquisition
CapitalTransactionNetProceedsReceivedOnAcquisition
|
1800000 | usd |
CY2024 | us-gaap |
Transfer Of Investments
TransferOfInvestments
|
56700000 | usd |
CY2024 | us-gaap |
Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
|
46300000 | usd |
CY2024Q1 | us-gaap |
Alternative Investment
AlternativeInvestment
|
293916000 | usd |
CY2024Q1 | us-gaap |
Fair Value Investments Entities That Calculate Net Asset Value Per Share Unfunded Committments
FairValueInvestmentsEntitiesThatCalculateNetAssetValuePerShareUnfundedCommittments
|
47823000 | usd |
CY2023Q1 | us-gaap |
Alternative Investment
AlternativeInvestment
|
385851000 | usd |
CY2023Q1 | us-gaap |
Fair Value Investments Entities That Calculate Net Asset Value Per Share Unfunded Committments
FairValueInvestmentsEntitiesThatCalculateNetAssetValuePerShareUnfundedCommittments
|
61135000 | usd |
CY2024Q1 | ben |
Alternative Investments Number Of Funds
AlternativeInvestmentsNumberOfFunds
|
257 | investmentfund |
CY2024Q1 | ben |
Alternative Investments Number Of Underlying Investments
AlternativeInvestmentsNumberOfUnderlyingInvestments
|
901 | underlyinginvestment |
CY2024Q1 | ben |
Alternative Investments Percent Of Underlying Investments In Private Companies
AlternativeInvestmentsPercentOfUnderlyingInvestmentsInPrivateCompanies
|
0.91 | |
CY2023Q3 | ben |
Proceeds From Sale Of Put Options
ProceedsFromSaleOfPutOptions
|
1000000 | usd |
CY2024Q1 | us-gaap |
Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
|
2685000 | usd |
CY2024Q1 | us-gaap |
Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
|
1337000 | usd |
CY2024Q1 | us-gaap |
Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
|
1060000 | usd |
CY2024Q1 | us-gaap |
Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
|
2962000 | usd |
CY2023Q1 | us-gaap |
Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
|
66998000 | usd |
CY2023Q1 | us-gaap |
Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
|
18780000 | usd |
CY2023Q1 | us-gaap |
Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
|
8880000 | usd |
CY2023Q1 | us-gaap |
Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
|
76898000 | usd |
CY2024Q1 | us-gaap |
Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
|
1964000 | usd |
CY2024Q1 | us-gaap |
Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
|
1060000 | usd |
CY2023Q1 | us-gaap |
Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
|
75900000 | usd |
CY2023Q1 | us-gaap |
Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
|
8880000 | usd |
CY2024 | us-gaap |
Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
|
4100000 | usd |
CY2023 | us-gaap |
Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
|
11200000 | usd |
CY2024 | us-gaap |
Other Than Temporary Impairment Loss Debt Securities Available For Sale
OtherThanTemporaryImpairmentLossDebtSecuritiesAvailableForSale
|
0 | usd |
CY2023Q1 | us-gaap |
Other Than Temporary Impairment Loss Debt Securities Available For Sale
OtherThanTemporaryImpairmentLossDebtSecuritiesAvailableForSale
|
12600000 | usd |
CY2023Q1 | us-gaap |
Other Than Temporary Impairment Credit Losses Recognized In Earnings Credit Losses On Debt Securities Held
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsCreditLossesOnDebtSecuritiesHeld
|
31290000 | usd |
CY2022Q1 | us-gaap |
Other Than Temporary Impairment Credit Losses Recognized In Earnings Credit Losses On Debt Securities Held
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsCreditLossesOnDebtSecuritiesHeld
|
18669000 | usd |
CY2024 | us-gaap |
Other Than Temporary Impairment Credit Losses Recognized In Earnings Period Increase Decrease
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsPeriodIncreaseDecrease
|
0 | usd |
CY2023 | us-gaap |
Other Than Temporary Impairment Credit Losses Recognized In Earnings Period Increase Decrease
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsPeriodIncreaseDecrease
|
12621000 | usd |
CY2024Q1 | us-gaap |
Other Than Temporary Impairment Credit Losses Recognized In Earnings Credit Losses On Debt Securities Held
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsCreditLossesOnDebtSecuritiesHeld
|
31290000 | usd |
CY2023Q1 | us-gaap |
Other Than Temporary Impairment Credit Losses Recognized In Earnings Credit Losses On Debt Securities Held
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsCreditLossesOnDebtSecuritiesHeld
|
31290000 | usd |
CY2024Q1 | us-gaap |
Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
|
1687000 | usd |
CY2024Q1 | us-gaap |
Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
|
1964000 | usd |
CY2023Q1 | us-gaap |
Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
|
66000000 | usd |
CY2023Q1 | us-gaap |
Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
|
75900000 | usd |
CY2024Q1 | us-gaap |
Available For Sale Securities Debt Maturities Without Single Maturity Date Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithoutSingleMaturityDateAmortizedCost
|
998000 | usd |
CY2024Q1 | us-gaap |
Available For Sale Securities Debt Maturities Without Single Maturity Date Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithoutSingleMaturityDateFairValue
|
998000 | usd |
CY2023Q1 | us-gaap |
Available For Sale Securities Debt Maturities Without Single Maturity Date Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithoutSingleMaturityDateAmortizedCost
|
998000 | usd |
CY2023Q1 | us-gaap |
Available For Sale Securities Debt Maturities Without Single Maturity Date Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithoutSingleMaturityDateFairValue
|
998000 | usd |
CY2024Q1 | us-gaap |
Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
|
2685000 | usd |
CY2024Q1 | us-gaap |
Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
|
2962000 | usd |
CY2023Q1 | us-gaap |
Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
|
66998000 | usd |
CY2023Q1 | us-gaap |
Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
|
76898000 | usd |
CY2024Q1 | us-gaap |
Equity Securities Without Readily Determinable Fair Value Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueAmount
|
26800000 | usd |
CY2023Q1 | us-gaap |
Equity Securities Without Readily Determinable Fair Value Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueAmount
|
21600000 | usd |
CY2023 | us-gaap |
Equity Securities Without Readily Determinable Fair Value Upward Price Adjustment Annual Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueUpwardPriceAdjustmentAnnualAmount
|
10800000 | usd |
CY2024 | us-gaap |
Equity Securities Without Readily Determinable Fair Value Impairment Loss Annual Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueImpairmentLossAnnualAmount
|
37800000 | usd |
CY2023 | us-gaap |
Equity Securities Without Readily Determinable Fair Value Impairment Loss Annual Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueImpairmentLossAnnualAmount
|
0 | usd |
CY2024Q1 | us-gaap |
Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
|
178000 | usd |
CY2024Q1 | ben |
Forward Liability Fair Value Disclosure
ForwardLiabilityFairValueDisclosure
|
14000 | usd |
CY2023Q1 | us-gaap |
Derivative Liabilities
DerivativeLiabilities
|
3513000 | usd |
CY2024 | us-gaap |
Gain Loss On Investments
GainLossOnInvestments
|
-104521000 | usd |
CY2023 | us-gaap |
Gain Loss On Investments
GainLossOnInvestments
|
-51421000 | usd |
CY2024 | ben |
Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Transfer Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForTransferOfSecuritiesNetOfTax
|
13700000 | usd |
CY2023Q1 | us-gaap |
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
|
2078000 | usd |
CY2022Q1 | us-gaap |
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
|
3000000 | usd |
CY2024 | us-gaap |
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Other Comprehensive Income Loss
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInOtherComprehensiveIncomeLoss
|
-114000 | usd |
CY2023 | us-gaap |
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Other Comprehensive Income Loss
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInOtherComprehensiveIncomeLoss
|
-922000 | usd |
CY2024Q1 | us-gaap |
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
|
1964000 | usd |
CY2023Q1 | us-gaap |
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
|
2078000 | usd |
CY2023Q1 | us-gaap |
Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
|
3513000 | usd |
CY2023Q1 | us-gaap |
Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
|
3513000 | usd |
CY2022Q1 | us-gaap |
Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
|
8108000 | usd |
CY2024Q1 | us-gaap |
Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
|
0 | usd |
CY2023Q1 | us-gaap |
Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
|
3513000 | usd |
CY2024Q1 | us-gaap |
Equity Securities Without Readily Determinable Fair Value Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueAmount
|
26800000 | usd |
CY2023Q1 | us-gaap |
Equity Securities Without Readily Determinable Fair Value Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueAmount
|
21600000 | usd |
CY2023 | us-gaap |
Equity Securities Without Readily Determinable Fair Value Upward Price Adjustment Annual Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueUpwardPriceAdjustmentAnnualAmount
|
10800000 | usd |
CY2024 | us-gaap |
Goodwill Impairment Loss
GoodwillImpairmentLoss
|
2400000000 | usd |
CY2024 | us-gaap |
Goodwill Impairment Loss
GoodwillImpairmentLoss
|
2400000000 | usd |
CY2024Q1 | ben |
Goodwill Impairment Loss Long Term Growth Rate
GoodwillImpairmentLossLongTermGrowthRate
|
0.030 | |
CY2023Q1 | us-gaap |
Goodwill
Goodwill
|
2367926000 | usd |
CY2024 | us-gaap |
Goodwill Impairment Loss
GoodwillImpairmentLoss
|
2354320000 | usd |
CY2024Q1 | us-gaap |
Goodwill
Goodwill
|
13606000 | usd |
CY2024Q1 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
12373000 | usd |
CY2023Q1 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
10408000 | usd |
CY2024Q1 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
10327000 | usd |
CY2023Q1 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
6551000 | usd |
CY2024Q1 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
2328000 | usd |
CY2023Q1 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
4344000 | usd |
CY2024 | us-gaap |
Depreciation
Depreciation
|
3800000 | usd |
CY2023 | us-gaap |
Depreciation
Depreciation
|
3600000 | usd |
CY2023Q1 | us-gaap |
Goodwill
Goodwill
|
2367926000 | usd |
CY2024 | us-gaap |
Goodwill Impairment Loss
GoodwillImpairmentLoss
|
2354320000 | usd |
CY2024Q1 | us-gaap |
Goodwill
Goodwill
|
13606000 | usd |
CY2023Q1 | us-gaap |
Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
|
2371026000 | usd |
CY2024 | us-gaap |
Goodwill Impairment Loss
GoodwillImpairmentLoss
|
2354320000 | usd |
CY2024Q1 | us-gaap |
Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
|
16706000 | usd |
CY2022Q1 | us-gaap |
Goodwill
Goodwill
|
2367750000 | usd |
CY2023 | us-gaap |
Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
|
176000 | usd |
CY2023 | us-gaap |
Goodwill Transfers
GoodwillTransfers
|
-2367926000 | usd |
CY2022Q1 | us-gaap |
Goodwill
Goodwill
|
2367750000 | usd |
CY2023 | us-gaap |
Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
|
176000 | usd |
CY2023Q1 | us-gaap |
Goodwill
Goodwill
|
2367926000 | usd |
CY2022Q1 | us-gaap |
Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
|
2370850000 | usd |
CY2023 | us-gaap |
Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
|
176000 | usd |
CY2023Q1 | us-gaap |
Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
|
2371026000 | usd |
CY2024 | us-gaap |
Goodwill Impairment Loss
GoodwillImpairmentLoss
|
2400000000 | usd |
CY2024 | us-gaap |
Goodwill Impairment Loss
GoodwillImpairmentLoss
|
2400000000 | usd |
CY2023 | us-gaap |
Goodwill And Intangible Asset Impairment
GoodwillAndIntangibleAssetImpairment
|
0 | usd |
CY2024Q1 | ben |
Notes Receivable Principal And Interest
NotesReceivablePrincipalAndInterest
|
5515000 | usd |
CY2023Q1 | ben |
Notes Receivable Principal And Interest
NotesReceivablePrincipalAndInterest
|
5104000 | usd |
CY2024Q1 | ben |
Notes Receivable Allowance For Credit Loss
NotesReceivableAllowanceForCreditLoss
|
5515000 | usd |
CY2023Q1 | ben |
Notes Receivable Allowance For Credit Loss
NotesReceivableAllowanceForCreditLoss
|
0 | usd |
CY2024Q1 | us-gaap |
Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
|
4054000 | usd |
CY2023Q1 | us-gaap |
Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
|
2329000 | usd |
CY2024Q1 | ben |
Financing Fee Receivable After Allowance For Credit Loss
FinancingFeeReceivableAfterAllowanceForCreditLoss
|
2932000 | usd |
CY2023Q1 | ben |
Financing Fee Receivable After Allowance For Credit Loss
FinancingFeeReceivableAfterAllowanceForCreditLoss
|
0 | usd |
CY2024Q1 | ben |
Insurance Reimbursable Receivable
InsuranceReimbursableReceivable
|
2840000 | usd |
CY2023Q1 | ben |
Insurance Reimbursable Receivable
InsuranceReimbursableReceivable
|
3211000 | usd |
CY2024Q1 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
2328000 | usd |
CY2023Q1 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
4344000 | usd |
CY2024Q1 | ben |
Distribution Receivable
DistributionReceivable
|
0 | usd |
CY2023Q1 | ben |
Distribution Receivable
DistributionReceivable
|
5891000 | usd |
CY2024Q1 | us-gaap |
Deferred Offering Costs
DeferredOfferingCosts
|
343000 | usd |
CY2023Q1 | us-gaap |
Deferred Offering Costs
DeferredOfferingCosts
|
7778000 | usd |
CY2024Q1 | ben |
Other Sundry Assets
OtherSundryAssets
|
2202000 | usd |
CY2023Q1 | ben |
Other Sundry Assets
OtherSundryAssets
|
2051000 | usd |
CY2024Q1 | us-gaap |
Other Assets
OtherAssets
|
14699000 | usd |
CY2023Q1 | us-gaap |
Other Assets
OtherAssets
|
32903000 | usd |
CY2024Q1 | ben |
Notes Receivable Principal And Interest
NotesReceivablePrincipalAndInterest
|
5500000 | usd |
CY2024Q1 | ben |
Notes Receivable Principal And Interest
NotesReceivablePrincipalAndInterest
|
5500000 | usd |
CY2023Q1 | ben |
Notes Receivable Principal And Interest
NotesReceivablePrincipalAndInterest
|
5100000 | usd |
CY2023Q1 | ben |
Notes Receivable Principal And Interest
NotesReceivablePrincipalAndInterest
|
5100000 | usd |
CY2024Q1 | ben |
Receivables Allowance For Credit Loss
ReceivablesAllowanceForCreditLoss
|
5500000 | usd |
CY2023Q1 | ben |
Receivables Allowance For Credit Loss
ReceivablesAllowanceForCreditLoss
|
0 | usd |
CY2024Q1 | us-gaap |
Other Commitment
OtherCommitment
|
18243000 | usd |
CY2023Q1 | us-gaap |
Other Commitment
OtherCommitment
|
13499000 | usd |
CY2024Q1 | us-gaap |
Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
|
9740000 | usd |
CY2023Q1 | us-gaap |
Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
|
0 | usd |
CY2024Q1 | ben |
Deferred Upfront Fees
DeferredUpfrontFees
|
2717000 | usd |
CY2023Q1 | ben |
Deferred Upfront Fees
DeferredUpfrontFees
|
0 | usd |
CY2024Q1 | us-gaap |
Other Sundry Liabilities
OtherSundryLiabilities
|
1027000 | usd |
CY2023Q1 | us-gaap |
Other Sundry Liabilities
OtherSundryLiabilities
|
1123000 | usd |
CY2024Q1 | us-gaap |
Other Liabilities
OtherLiabilities
|
31727000 | usd |
CY2023Q1 | us-gaap |
Other Liabilities
OtherLiabilities
|
14622000 | usd |
CY2022Q1 | us-gaap |
Transfer Of Financial Assets Accounted For As Sales Fair Value Of Derecognized Assets
TransferOfFinancialAssetsAccountedForAsSalesFairValueOfDerecognizedAssets
|
72500000 | usd |
CY2022Q1 | us-gaap |
Transfer Of Financial Assets Accounted For As Sales Cash Proceeds Received For Assets Derecognized Amount
TransferOfFinancialAssetsAccountedForAsSalesCashProceedsReceivedForAssetsDerecognizedAmount
|
72500000 | usd |
CY2024 | us-gaap |
Transfer Of Investments
TransferOfInvestments
|
56700000 | usd |
CY2024 | us-gaap |
Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
|
-8800000 | usd |
CY2023Q4 | us-gaap |
Loans Payable
LoansPayable
|
47900000 | usd |
CY2024 | us-gaap |
Transfer Of Investments
TransferOfInvestments
|
56700000 | usd |
CY2023Q1 | us-gaap |
Loans Payable
LoansPayable
|
52100000 | usd |
CY2024 | us-gaap |
Payments Of Financing Costs
PaymentsOfFinancingCosts
|
1600000 | usd |
CY2024Q1 | us-gaap |
Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
|
23444000 | usd |
CY2024Q1 | us-gaap |
Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
|
0 | usd |
CY2024Q1 | us-gaap |
Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
|
25000000 | usd |
CY2024Q1 | us-gaap |
Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
|
72996000 | usd |
CY2024Q1 | us-gaap |
Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
|
0 | usd |
CY2024 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
39103000 | usd |
CY2023 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
10085000 | usd |
CY2024Q1 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
|
7000000 | usd |
CY2024Q1 | ben |
Share Based Payment Arrangement Nonvested Award Cost Not Yet Recognized Amount Year One
ShareBasedPaymentArrangementNonvestedAwardCostNotYetRecognizedAmountYearOne
|
3625000 | usd |
CY2024Q1 | ben |
Share Based Payment Arrangement Nonvested Award Cost Not Yet Recognized Amount Year Two
ShareBasedPaymentArrangementNonvestedAwardCostNotYetRecognizedAmountYearTwo
|
2398000 | usd |
CY2024Q1 | ben |
Share Based Payment Arrangement Nonvested Award Cost Not Yet Recognized Amount Year Three
ShareBasedPaymentArrangementNonvestedAwardCostNotYetRecognizedAmountYearThree
|
1008000 | usd |
CY2024Q1 | ben |
Share Based Payment Arrangement Nonvested Award Cost Not Yet Recognized Amount Year Four
ShareBasedPaymentArrangementNonvestedAwardCostNotYetRecognizedAmountYearFour
|
0 | usd |
CY2024Q1 | ben |
Share Based Payment Arrangement Nonvested Award Cost Not Yet Recognized Amount Year Five
ShareBasedPaymentArrangementNonvestedAwardCostNotYetRecognizedAmountYearFive
|
0 | usd |
CY2024Q1 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
|
7031000 | usd |
CY2023Q2 | ben |
Standby Equity Purchase Agreement Sale Of Stock Shares
StandbyEquityPurchaseAgreementSaleOfStockShares
|
5703 | shares |
CY2024Q1 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
250000000 | shares |
CY2024Q1 | ben |
Preferred Series A Subclass0 Potential Exchange Price
PreferredSeriesASubclass0PotentialExchangePrice
|
840.00 | |
CY2024 | ben |
Preferred Series A Subclass0 Number Of Days Preceding Exchange Date
PreferredSeriesASubclass0NumberOfDaysPrecedingExchangeDate
|
P20D | |
CY2024Q1 | ben |
Preferred Series A Subclass0 Potential Exchange Price
PreferredSeriesASubclass0PotentialExchangePrice
|
840.00 | |
CY2024Q1 | ben |
Business Combination Asset Valuation Adjustment
BusinessCombinationAssetValuationAdjustment
|
321900000 | usd |
CY2023 | us-gaap |
Payments To Minority Shareholders
PaymentsToMinorityShareholders
|
100000 | usd |
CY2024 | us-gaap |
Profit Loss
ProfitLoss
|
-2658180000 | usd |
CY2023 | us-gaap |
Profit Loss
ProfitLoss
|
-252100000 | usd |
CY2024 | us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
-579332000 | usd |
CY2023 | us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
-136942000 | usd |
CY2024 | ben |
Noncontrolling Interest In Guaranteed Payment
NoncontrollingInterestInGuaranteedPayment
|
16793000 | usd |
CY2023 | ben |
Noncontrolling Interest In Guaranteed Payment
NoncontrollingInterestInGuaranteedPayment
|
15822000 | usd |
CY2024 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-2095641000 | usd |
CY2023 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-130980000 | usd |
CY2024 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-2095641000 | usd |
CY2023 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-130980000 | usd |
CY2024 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
5217230 | shares |
CY2023 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
1424958 | shares |
CY2024 | us-gaap |
Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
|
788000 | usd |
CY2023 | us-gaap |
Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
|
-1072000 | usd |
CY2024 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
788000 | usd |
CY2023 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
-1072000 | usd |
CY2024 | us-gaap |
Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
|
-558052000 | usd |
CY2023 | us-gaap |
Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
|
-51011000 | usd |
CY2024 | us-gaap |
Income Tax Reconciliation Nondeductible Expense Impairment Losses
IncomeTaxReconciliationNondeductibleExpenseImpairmentLosses
|
490969000 | usd |
CY2023 | us-gaap |
Income Tax Reconciliation Nondeductible Expense Impairment Losses
IncomeTaxReconciliationNondeductibleExpenseImpairmentLosses
|
0 | usd |
CY2024 | us-gaap |
Income Tax Reconciliation Nondeductible Expense Other
IncomeTaxReconciliationNondeductibleExpenseOther
|
4919000 | usd |
CY2023 | us-gaap |
Income Tax Reconciliation Nondeductible Expense Other
IncomeTaxReconciliationNondeductibleExpenseOther
|
505000 | usd |
CY2024 | ben |
Effective Income Tax Rate Reconciliation Non Taxable Flow Through Entity Amounts
EffectiveIncomeTaxRateReconciliationNonTaxableFlowThroughEntityAmounts
|
2855000 | usd |
CY2023 | ben |
Effective Income Tax Rate Reconciliation Non Taxable Flow Through Entity Amounts
EffectiveIncomeTaxRateReconciliationNonTaxableFlowThroughEntityAmounts
|
41240000 | usd |
CY2024 | us-gaap |
Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
60097000 | usd |
CY2023 | us-gaap |
Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
8194000 | usd |
CY2024 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
788000 | usd |
CY2023 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
-1072000 | usd |
CY2024Q1 | ben |
Deferred Tax Assets Temporary Passthrough Differences
DeferredTaxAssetsTemporaryPassthroughDifferences
|
28130000 | usd |
CY2023Q1 | ben |
Deferred Tax Assets Temporary Passthrough Differences
DeferredTaxAssetsTemporaryPassthroughDifferences
|
17142000 | usd |
CY2024Q1 | ben |
Deferred Tax Assets Loss On Litigation Settlement
DeferredTaxAssetsLossOnLitigationSettlement
|
11544000 | usd |
CY2023Q1 | ben |
Deferred Tax Assets Loss On Litigation Settlement
DeferredTaxAssetsLossOnLitigationSettlement
|
0 | usd |
CY2024Q1 | us-gaap |
Deferred Tax Assets Tax Deferred Expense Compensation And Benefits
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits
|
4567000 | usd |
CY2023Q1 | us-gaap |
Deferred Tax Assets Tax Deferred Expense Compensation And Benefits
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits
|
0 | usd |
CY2024Q1 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
17658000 | usd |
CY2023Q1 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
991000 | usd |
CY2024Q1 | us-gaap |
Deferred Tax Assets Gross
DeferredTaxAssetsGross
|
61899000 | usd |
CY2023Q1 | us-gaap |
Deferred Tax Assets Gross
DeferredTaxAssetsGross
|
18133000 | usd |
CY2024Q1 | us-gaap |
Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
|
0 | usd |
CY2023Q1 | us-gaap |
Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
|
0 | usd |
CY2024Q1 | us-gaap |
Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
|
0 | usd |
CY2023Q1 | us-gaap |
Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
|
0 | usd |
CY2024Q1 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
61899000 | usd |
CY2023Q1 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
18133000 | usd |
CY2024Q1 | us-gaap |
Deferred Tax Liabilities
DeferredTaxLiabilities
|
0 | usd |
CY2023Q1 | us-gaap |
Deferred Tax Liabilities
DeferredTaxLiabilities
|
0 | usd |
CY2024Q1 | us-gaap |
Operating Loss Carryforwards
OperatingLossCarryforwards
|
82400000 | usd |
CY2023Q1 | us-gaap |
Operating Loss Carryforwards
OperatingLossCarryforwards
|
4700000 | usd |
CY2024 | us-gaap |
Number Of Reportable Segments
NumberOfReportableSegments
|
3 | segment |
CY2024 | us-gaap |
Revenues Excluding Interest And Dividends
RevenuesExcludingInterestAndDividends
|
4791000 | usd |
CY2024 | us-gaap |
Gain Loss On Investments
GainLossOnInvestments
|
-104521000 | usd |
CY2024 | us-gaap |
Interest Income Operating
InterestIncomeOperating
|
457000 | usd |
CY2024 | ben |
Trust Services And Administration Revenues
TrustServicesAndAdministrationRevenues
|
365000 | usd |
CY2024 | us-gaap |
Other Nonoperating Income
OtherNonoperatingIncome
|
212000 | usd |
CY2024 | us-gaap |
Revenues
Revenues
|
-98696000 | usd |
CY2024 | us-gaap |
Labor And Related Expense
LaborAndRelatedExpense
|
65129000 | usd |
CY2024 | us-gaap |
Interest Expense
InterestExpense
|
17559000 | usd |
CY2024 | us-gaap |
Professional Fees
ProfessionalFees
|
29999000 | usd |
CY2024 | ben |
Provision For Other Credit Losses Other Than Temporary Impairment And Trade Receivable Write Offs
ProvisionForOtherCreditLossesOtherThanTemporaryImpairmentAndTradeReceivableWriteOffs
|
6016000 | usd |
CY2024 | us-gaap |
Goodwill Impairment Loss
GoodwillImpairmentLoss
|
2354320000 | usd |
CY2024 | us-gaap |
Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
|
-54973000 | usd |
CY2024 | us-gaap |
Other Expenses
OtherExpenses
|
21854000 | usd |
CY2024 | us-gaap |
Operating Expenses
OperatingExpenses
|
2549850000 | usd |
CY2024 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-2648546000 | usd |
CY2024Q1 | us-gaap |
Financial Instruments Owned At Fair Value
FinancialInstrumentsOwnedAtFairValue
|
329119000 | usd |
CY2024Q1 | ben |
Cash And Cash Equivalents Restricted Cash And Other Assets
CashAndCashEquivalentsRestrictedCashAndOtherAssets
|
22676000 | usd |
CY2024Q1 | us-gaap |
Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
|
16706000 | usd |
CY2024Q1 | us-gaap |
Assets
Assets
|
368501000 | usd |
CY2023 | us-gaap |
Revenues Excluding Interest And Dividends
RevenuesExcludingInterestAndDividends
|
-54010000 | usd |
CY2023 | us-gaap |
Gain Loss On Investments
GainLossOnInvestments
|
-51421000 | usd |
CY2023 | us-gaap |
Interest Income Operating
InterestIncomeOperating
|
412000 | usd |
CY2023 | ben |
Trust Services And Administration Revenues
TrustServicesAndAdministrationRevenues
|
30000 | usd |
CY2023 | us-gaap |
Other Nonoperating Income
OtherNonoperatingIncome
|
86000 | usd |
CY2023 | us-gaap |
Revenues
Revenues
|
-104903000 | usd |
CY2023 | us-gaap |
Labor And Related Expense
LaborAndRelatedExpense
|
45527000 | usd |
CY2023 | us-gaap |
Interest Expense
InterestExpense
|
15471000 | usd |
CY2023 | us-gaap |
Professional Fees
ProfessionalFees
|
38422000 | usd |
CY2023 | ben |
Provision For Other Credit Losses Other Than Temporary Impairment And Trade Receivable Write Offs
ProvisionForOtherCreditLossesOtherThanTemporaryImpairmentAndTradeReceivableWriteOffs
|
20580000 | usd |
CY2023 | us-gaap |
Other Expenses
OtherExpenses
|
28269000 | usd |
CY2023 | us-gaap |
Operating Expenses
OperatingExpenses
|
148269000 | usd |
CY2023 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-253172000 | usd |
CY2023Q1 | us-gaap |
Financial Instruments Owned At Fair Value
FinancialInstrumentsOwnedAtFairValue
|
497221000 | usd |
CY2023Q1 | ben |
Cash And Cash Equivalents Restricted Cash And Other Assets
CashAndCashEquivalentsRestrictedCashAndOtherAssets
|
42448000 | usd |
CY2023Q1 | us-gaap |
Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
|
2371026000 | usd |
CY2023Q1 | us-gaap |
Assets
Assets
|
2910695000 | usd |
CY2024 | us-gaap |
Operating Lease Expense
OperatingLeaseExpense
|
5100000 | usd |
CY2023 | us-gaap |
Operating Lease Expense
OperatingLeaseExpense
|
6600000 | usd |
CY2024Q1 | ben |
Alternative Investments Potential Gross Capital Commitments
AlternativeInvestmentsPotentialGrossCapitalCommitments
|
47800000 | usd |
CY2023Q1 | ben |
Alternative Investments Potential Gross Capital Commitments
AlternativeInvestmentsPotentialGrossCapitalCommitments
|
61100000 | usd |
CY2024Q1 | ben |
Alternative Investments Capital Funding Commitment Reserves Maximum
AlternativeInvestmentsCapitalFundingCommitmentReservesMaximum
|
100000 | usd |
CY2024Q1 | ben |
Capital Commitments Percentage Of Portfolio Unfunded Commitment
CapitalCommitmentsPercentageOfPortfolioUnfundedCommitment
|
0.90 | |
CY2024 | us-gaap |
Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
|
-55000000 | usd |
CY2024 | us-gaap |
Income Taxes Paid
IncomeTaxesPaid
|
800000 | usd |
CY2024 | us-gaap |
Interest Paid Net
InterestPaidNet
|
1100000 | usd |
CY2023 | us-gaap |
Interest Paid Net
InterestPaidNet
|
8700000 | usd |
CY2024 | us-gaap |
Transfer Of Investments
TransferOfInvestments
|
56700000 | usd |
CY2024 | ben |
Temporary Equity Guaranteed Payment Accrual
TemporaryEquityGuaranteedPaymentAccrual
|
-16800000 | usd |
CY2024 | ben |
Noncash Or Part Noncash Transaction Issuance Of Noncontrolling Interest
NoncashOrPartNoncashTransactionIssuanceOfNoncontrollingInterest
|
1100000 | usd |
CY2024 | ben |
Distributions Payable To Charitable Beneficiaries
DistributionsPayableToCharitableBeneficiaries
|
-1200000 | usd |
CY2023 | ben |
Temporary Equity Deemed Dividends
TemporaryEquityDeemedDividends
|
-37100000 | usd |
CY2023 | ben |
Other Significant Noncash Transaction Issuance Of Preferred Stock To Satisfy Contingent Consideration Payable
OtherSignificantNoncashTransactionIssuanceOfPreferredStockToSatisfyContingentConsiderationPayable
|
20100000 | usd |
CY2023 | ben |
Temporary Equity Guaranteed Payment Accrual
TemporaryEquityGuaranteedPaymentAccrual
|
-15800000 | usd |
CY2023 | ben |
Other Significant Noncash Transaction Noncontrolling Interest Increase From Reserved Cash From Prior Period
OtherSignificantNoncashTransactionNoncontrollingInterestIncreaseFromReservedCashFromPriorPeriod
|
2400000 | usd |
CY2023 | ben |
Distributions Payable To Charitable Beneficiaries
DistributionsPayableToCharitableBeneficiaries
|
-1700000 | usd |
CY2023 | us-gaap |
Other Significant Noncash Transaction Value Of Consideration Received1
OtherSignificantNoncashTransactionValueOfConsiderationReceived1
|
1400000 | usd |
CY2023 | ben |
Temporary Equity Value Conversion Of Convertible Securities
TemporaryEquityValueConversionOfConvertibleSecurities
|
1100000 | usd |
CY2023 | ben |
Noncash Or Part Noncash Transaction Issuance Of Noncontrolling Interest
NoncashOrPartNoncashTransactionIssuanceOfNoncontrollingInterest
|
300000 | usd |
CY2024Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
7913000 | usd |
CY2023Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
8726000 | usd |
CY2024Q1 | us-gaap |
Restricted Cash
RestrictedCash
|
64000 | usd |
CY2023Q1 | us-gaap |
Restricted Cash
RestrictedCash
|
819000 | usd |
CY2024Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
7977000 | usd |
CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
9545000 | usd |
CY2024 | ecd |
Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
|
false | |
CY2024 | ecd |
Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
|
false | |
CY2024 | ecd |
Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
|
false | |
CY2024 | ecd |
Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
|
false | |
CY2024 | ecd |
Insider Trd Policies Proc Adopted Flag
InsiderTrdPoliciesProcAdoptedFlag
|
true |