Company: RILYN
Filing Date: 2025-01-14
Form Type: 10-Q
Source: 0001628280-25-001398
Chunk: 48

Company: B. Riley Financial, Inc.
Filing Date: 2025-01-14
Form: 10-Q
Item: Part I, Item 1
Chunk 48
---
, which consisted of reductions in workforce. During the three and six months ended June 30, 2023, the Company recognized restructuring charges of $628 and $721, respectively, primarily related to reorganization and consolidation activities in the Wealth Management segment, Communications segment, and Consumer Products segment, which consisted of reductions in workforce and facility closures.

31

The following tables summarize the changes in accrued restructuring charge during the three and six months ended months ended June 30, 2024 and 2023:Three Months EndedJune 30,Six Months EndedJune 30,2024202320242023Balance, beginning of period$1,467 $1,996 $2,542 $2,335 Restructuring charge20 628 809 721 Cash paid(482)(929)(2,317)(1,367)Non-cash items42 97 13 103 Balance, end of period$1,047 $1,792 $1,047 $1,792 The following table summarizes the restructuring activities by reportable segment during the three months ended June 30, 2024 and 2023.Wealth ManagementCommunicationsConsumer ProductsTotalRestructuring charges for the three months ended June 30, 2024:   Employee termination$— $— $20 $20 Total restructuring charge$— $— $20 $20   Restructuring charges for the three months ended  June 30, 2023:   Employee termination$— $197 $403 $600 Facility closure and consolidation28 — — 28 Total restructuring charge$28 $197 $403 $628 The following table summarizes the restructuring activities by reportable segment during the six months ended June 30, 2024 and 2023.Wealth ManagementCommunicationsConsumer ProductsTotalRestructuring charges for the six months ended June 30, 2024:Employee termination$— $263 $546 $809 Total restructuring charge$— $263 $546 $809 Restructuring charges for the six months ended June 30, 2023:Employee termination$— $257 $403 $660 Facility closure and consolidation61 — — 61 Total restructuring charge$61 $257 $403 $721 

NOTE 5 — SECURITIES LENDING  

The following table presents