Company: DBRG
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001679688-25-000017
Chunk: 174

Company: DigitalBridge Group, Inc.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 8
Chunk 174
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 of NRF Holdco was sold for $281 million, in a combination of cash and a $155 million unsecured promissory note. The promissory note was fully written down in March 2023. The disposition of NRF Holdco resulted in a write-off of unamortized deferred financing costs on the Wellness Infrastructure debt assumed by the buyer of $92.1 million and additional impairment loss based upon final carrying value of the Wellness Infrastructure net assets in 2022.

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Income (Loss) from discontinued operations is summarized as follows.Year Ended December 31,(In thousands)202420232022Revenues$7,649 $783,121 $975,286 Expenses(10,669)(1,089,481)(1,456,076)Other gain (loss)(16,035)(12,517)(31,807)Income (Loss) from discontinued operations before income taxes(19,055)(318,877)(512,597)Income tax benefit (expense)190 (1,581)2,413 Income (Loss) from discontinued operations(18,865)(320,458)(510,184)Income (Loss) from discontinued operations attributable to noncontrolling interests:Investment entities1,199 (260,120)(302,072)Operating Company(1,372)(4,339)(15,893)Income (Loss) from discontinued operations attributable to DigitalBridge Group, Inc.$(18,692)$(55,999)$(192,219)Assets and Liabilities of Discontinued OperationsThe Company initially measures assets and liabilities of discontinued operations at the lower of their carrying amounts or fair value less disposal costs. For bulk sale transactions, the unit of account is the disposal group, with any excess of the aggregate carrying value over estimated fair value less costs to sell allocated to the individual assets within the group. Assets and liabilities of discontinued operations consisted of remaining equity investments excluded from the Company's December 2021 bulk sale of its real estate related investments.ReclassificationsInvestment-related expense in prior periods, which were immaterial to the respective periods, have been combined into administrative and other expenses on the consolidated statements of operations to conform to current period presentation. This reclassification did not affect the Company's financial position, results of operations or cash flows. Accounting Policies Related to Real Estate OperationsAccounting policies related to real estate operations were applicable to a warehoused tower portfolio in continuing operations in 2022, and to portfolio companies in the former