2024 Q1 Form 10-K Financial Statement

#000177573424000029 Filed on July 09, 2024

View on sec.gov

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%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2024 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2024 dei Entity Tax Identification Number
EntityTaxIdentificationNumber
72-1573705
CY2024 dei Entity Address Address Line1
EntityAddressAddressLine1
325 North St. Paul Street
CY2024 dei Entity Address Address Line2
EntityAddressAddressLine2
Suite 4850
CY2024 dei Entity Address City Or Town
EntityAddressCityOrTown
Dallas
CY2024 dei Entity Small Business
EntitySmallBusiness
true
CY2024 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
true
CY2024 dei Entity Ex Transition Period
EntityExTransitionPeriod
false
CY2024 dei Icfr Auditor Attestation Flag
IcfrAuditorAttestationFlag
false
CY2024 dei Auditor Firm
AuditorFirmId
410
CY2024 dei Auditor Location
AuditorLocation
San Antonio, Texas
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 Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
3100000 usd
CY2023Q1 us-gaap Goodwill
Goodwill
2367926000 usd
CY2024Q1 us-gaap Assets
Assets
368501000 usd
CY2023Q1 us-gaap Assets
Assets
2910695000 usd
CY2024Q1 us-gaap Temporary Equity Carrying Amount Including Portion Attributable To Noncontrolling Interests
TemporaryEquityCarryingAmountIncludingPortionAttributableToNoncontrollingInterests
251052000 usd
CY2023Q1 us-gaap Temporary Equity Carrying Amount Including Portion Attributable To Noncontrolling Interests
TemporaryEquityCarryingAmountIncludingPortionAttributableToNoncontrollingInterests
950493000 usd
CY2024 us-gaap Gain Loss On Investments
GainLossOnInvestments
-104521000 usd
CY2024 us-gaap Interest Income Operating
InterestIncomeOperating
457000 usd
CY2023 us-gaap Interest Income Operating
InterestIncomeOperating
412000 usd
CY2024 dei Entity Central Index Key
EntityCentralIndexKey
0001775734
CY2024 dei Amendment Flag
AmendmentFlag
false
CY2024 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2024
CY2023Q1 us-gaap Derivative Liability Statement Of Financial Position Extensible Enumeration
DerivativeLiabilityStatementOfFinancialPositionExtensibleEnumeration
http://fasb.org/us-gaap/2023#LoansPayable
CY2023 us-gaap Fair Value Recurring Basis Unobservable Input Reconciliation Asset Gain Loss Statement Of Other Comprehensive Income Extensible List
FairValueRecurringBasisUnobservableInputReconciliationAssetGainLossStatementOfOtherComprehensiveIncomeExtensibleList
http://fasb.org/us-gaap/2023#OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
CY2024 us-gaap Fair Value Recurring Basis Unobservable Input Reconciliation Asset Gain Loss Statement Of Other Comprehensive Income Extensible List
FairValueRecurringBasisUnobservableInputReconciliationAssetGainLossStatementOfOtherComprehensiveIncomeExtensibleList
http://fasb.org/us-gaap/2023#OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
CY2023 us-gaap Income Taxes Paid
IncomeTaxesPaid
0 usd
CY2024 dei Document Annual Report
DocumentAnnualReport
true
CY2024 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--03-31
CY2024 dei Document Transition Report
DocumentTransitionReport
false
CY2024 dei Entity File Number
EntityFileNumber
001-41715
CY2024 dei Entity Registrant Name
EntityRegistrantName
Beneficient
CY2024 dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
NV
CY2024 dei Entity Address State Or Province
EntityAddressStateOrProvince
TX
CY2024 dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
75201
CY2024 dei City Area Code
CityAreaCode
214
CY2024 dei Local Phone Number
LocalPhoneNumber
445-4700
CY2024 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No
CY2024 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2024 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2024 dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
CY2024 dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
CY2024 dei Document Fin Stmt Error Correction Flag
DocumentFinStmtErrorCorrectionFlag
false
CY2024 dei Entity Shell Company
EntityShellCompany
false
CY2023Q3 dei Entity Public Float
EntityPublicFloat
78937585 usd
CY2024 dei Auditor Name
AuditorName
Weaver and Tidwell, L.L.P.
CY2024Q1 us-gaap Other Assets
OtherAssets
14699000 usd
CY2023Q1 us-gaap Other Assets
OtherAssets
32903000 usd
CY2023Q1 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
3100000 usd
CY2024Q1 us-gaap Goodwill
Goodwill
13606000 usd
CY2024Q1 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
157157000 usd
CY2023Q1 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
65724000 usd
CY2024Q1 us-gaap Other Liabilities
OtherLiabilities
31727000 usd
CY2023Q1 us-gaap Other Liabilities
OtherLiabilities
14622000 usd
CY2024Q1 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
178000 usd
CY2023Q1 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
0 usd
CY2024Q1 us-gaap Loans Payable
LoansPayable
0 usd
CY2023Q1 us-gaap Loans Payable
LoansPayable
52129000 usd
CY2024Q1 us-gaap Other Long Term Debt
OtherLongTermDebt
120505000 usd
CY2023Q1 us-gaap Other Long Term Debt
OtherLongTermDebt
99314000 usd
CY2024Q1 us-gaap Liabilities
Liabilities
309567000 usd
CY2023Q1 us-gaap Liabilities
Liabilities
231789000 usd
CY2023Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2024Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2024Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
250000000 shares
CY2023Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
250000000 shares
CY2024Q1 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
1848068000 usd
CY2023Q1 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
1579742000 usd
CY2024Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-2059214000 usd
CY2023Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
0 usd
CY2024Q1 us-gaap Receivable From Shareholders Or Affiliates For Issuance Of Capital Stock
ReceivableFromShareholdersOrAffiliatesForIssuanceOfCapitalStock
20038000 usd
CY2023Q1 us-gaap Receivable From Shareholders Or Affiliates For Issuance Of Capital Stock
ReceivableFromShareholdersOrAffiliatesForIssuanceOfCapitalStock
0 usd
CY2023Q1 us-gaap Treasury Stock Common Shares
TreasuryStockCommonShares
9000 shares
CY2024Q1 us-gaap Treasury Stock Common Shares
TreasuryStockCommonShares
9000 shares
CY2024Q1 us-gaap Treasury Stock Common Value
TreasuryStockCommonValue
3444000 usd
CY2023Q1 us-gaap Treasury Stock Common Value
TreasuryStockCommonValue
3444000 usd
CY2024Q1 us-gaap Minority Interest
MinorityInterest
42231000 usd
CY2023Q1 us-gaap Minority Interest
MinorityInterest
142213000 usd
CY2024Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
276000 usd
CY2023Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
9900000 usd
CY2024Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-192118000 usd
CY2023Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1728413000 usd
CY2024Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
368501000 usd
CY2023Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
2910695000 usd
CY2024 us-gaap Revenues Excluding Interest And Dividends
RevenuesExcludingInterestAndDividends
4791000 usd
CY2023 us-gaap Revenues Excluding Interest And Dividends
RevenuesExcludingInterestAndDividends
-54010000 usd
CY2023 us-gaap Gain Loss On Investments
GainLossOnInvestments
-51421000 usd
CY2024 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
212000 usd
CY2023 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
86000 usd
CY2024 us-gaap Labor And Related Expense
LaborAndRelatedExpense
65129000 usd
CY2024 us-gaap Interest Expense
InterestExpense
17559000 usd
CY2023 us-gaap Interest Expense
InterestExpense
15471000 usd
CY2024 us-gaap Professional Fees
ProfessionalFees
29999000 usd
CY2023 us-gaap Professional Fees
ProfessionalFees
38422000 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 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 Other Expenses
OtherExpenses
21854000 usd
CY2023 us-gaap Other Expenses
OtherExpenses
28269000 usd
CY2024 us-gaap Operating Expenses
OperatingExpenses
2549850000 usd
CY2023 us-gaap Operating Expenses
OperatingExpenses
148269000 usd
CY2024 us-gaap Operating Income Loss
OperatingIncomeLoss
-2648546000 usd
CY2023 us-gaap Operating Income Loss
OperatingIncomeLoss
-253172000 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 Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-2657392000 usd
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-253172000 usd
CY2024 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
788000 usd
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-1072000 usd
CY2024 us-gaap Profit Loss
ProfitLoss
-2658180000 usd
CY2023 us-gaap Profit Loss
ProfitLoss
-252100000 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 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
4070000 usd
CY2023 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
11226000 usd
CY2024 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
-2091571000 usd
CY2023 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
-119754000 usd
CY2024 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToNoncontrollingInterest
4070000 usd
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&amp;R LLCA”). The Ben LLC A&amp;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&amp;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 &amp; 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

Files In Submission

Name View Source Status
0001775734-24-000029-index-headers.html Edgar Link pending
0001775734-24-000029-index.html Edgar Link pending
0001775734-24-000029.txt Edgar Link pending
0001775734-24-000029-xbrl.zip Edgar Link pending
ben-20240331.htm Edgar Link pending
ben-20240331.xsd Edgar Link pending
ben-20240331_g1.jpg Edgar Link pending
ben-20240331_g10.jpg Edgar Link pending
ben-20240331_g11.jpg Edgar Link pending
ben-20240331_g12.jpg Edgar Link pending
ben-20240331_g13.jpg Edgar Link pending
ben-20240331_g14.jpg Edgar Link pending
ben-20240331_g15.jpg Edgar Link pending
ben-20240331_g16.jpg Edgar Link pending
ben-20240331_g17.jpg Edgar Link pending
ben-20240331_g18.jpg Edgar Link pending
ben-20240331_g2.jpg Edgar Link pending
ben-20240331_g3.jpg Edgar Link pending
ben-20240331_g4.jpg Edgar Link pending
ben-20240331_g5.jpg Edgar Link pending
ben-20240331_g6.jpg Edgar Link pending
ben-20240331_g7.jpg Edgar Link pending
ben-20240331_g8.jpg Edgar Link pending
ben-20240331_g9.jpg Edgar Link pending
ben-20240331_cal.xml Edgar Link unprocessable
ben-20240331_def.xml Edgar Link unprocessable
ben-20240331_lab.xml Edgar Link unprocessable
ben-20240331_pre.xml Edgar Link unprocessable
ben-20240331_htm.xml Edgar Link completed
ex10282-maximagreement.htm Edgar Link pending
ex1052-9thamendedandrestat.htm Edgar Link pending
ex19-insidertradingpolicy.htm Edgar Link pending
ex21-03312024.htm Edgar Link pending
ex23-03312024.htm Edgar Link pending
ex311-03312024.htm Edgar Link pending
ex312-03312024.htm Edgar Link pending
ex321-03312024.htm Edgar Link pending
ex322-03312024.htm Edgar Link pending
ex46-03312024.htm Edgar Link pending
ex97-compensationrecoveryp.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R100.htm Edgar Link pending
R101.htm Edgar Link pending
R102.htm Edgar Link pending
R103.htm Edgar Link pending
R104.htm Edgar Link pending
R105.htm Edgar Link pending
R106.htm Edgar Link pending
R107.htm Edgar Link pending
R108.htm Edgar Link pending
R109.htm Edgar Link pending
R11.htm Edgar Link pending
R110.htm Edgar Link pending
R111.htm Edgar Link pending
R112.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R49.htm Edgar Link pending
R5.htm Edgar Link pending
R50.htm Edgar Link pending
R51.htm Edgar Link pending
R52.htm Edgar Link pending
R53.htm Edgar Link pending
R54.htm Edgar Link pending
R55.htm Edgar Link pending
R56.htm Edgar Link pending
R57.htm Edgar Link pending
R58.htm Edgar Link pending
R59.htm Edgar Link pending
R6.htm Edgar Link pending
R60.htm Edgar Link pending
R61.htm Edgar Link pending
R62.htm Edgar Link pending
R63.htm Edgar Link pending
R64.htm Edgar Link pending
R65.htm Edgar Link pending
R66.htm Edgar Link pending
R67.htm Edgar Link pending
R68.htm Edgar Link pending
R69.htm Edgar Link pending
R7.htm Edgar Link pending
R70.htm Edgar Link pending
R71.htm Edgar Link pending
R72.htm Edgar Link pending
R73.htm Edgar Link pending
R74.htm Edgar Link pending
R75.htm Edgar Link pending
R76.htm Edgar Link pending
R77.htm Edgar Link pending
R78.htm Edgar Link pending
R79.htm Edgar Link pending
R8.htm Edgar Link pending
R80.htm Edgar Link pending
R81.htm Edgar Link pending
R82.htm Edgar Link pending
R83.htm Edgar Link pending
R84.htm Edgar Link pending
R85.htm Edgar Link pending
R86.htm Edgar Link pending
R87.htm Edgar Link pending
R88.htm Edgar Link pending
R89.htm Edgar Link pending
R9.htm Edgar Link pending
R90.htm Edgar Link pending
R91.htm Edgar Link pending
R92.htm Edgar Link pending
R93.htm Edgar Link pending
R94.htm Edgar Link pending
R95.htm Edgar Link pending
R96.htm Edgar Link pending
R97.htm Edgar Link pending
R98.htm Edgar Link pending
R99.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
FilingSummary.xml Edgar Link unprocessable