Company: RILYN
Filing Date: 2025-02-21
Form Type: 10-Q
Source: 0001628280-25-007082
Chunk: 17

Company: B. Riley Financial, Inc.
Filing Date: 2025-02-21
Form: 10-Q
Item: Part I, Item 1
Chunk 17
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(e) Advertising Expenses The Company expenses advertising costs, which consist primarily of costs for printed materials, as incurred. Advertising costs totaled $1,477 and $5,911 during the three months ended September 30, 2024 and 2023, respectively, and $6,155 and $16,462 during the nine months ended September 30, 2024 and 2023. Advertising expense was included as 

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a component of selling, general and administrative expenses in the accompanying condensed consolidated statements of operations.

(f) Cash and Cash EquivalentsThe Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents.

(g) Restricted CashAs of September 30, 2024 and December 31, 2023, restricted cash included $1,366 and $1,875, respectively, primarily consisting of cash collateral for leases.Cash, cash equivalents and restricted cash consist of the following:September 30,2024December 31,2023Cash and cash equivalents$159,247 $222,690 Restricted cash1,366 1,875 Total cash, cash equivalents and restricted cash$160,613 $224,565 

(h) Loans ReceivableUnder Accounting Standards Codification (“ASC”) 825 - Financial Instruments, the Company elected the fair value option for all outstanding loans receivable. Management evaluates the performance of the loan portfolio on a fair value basis. Under the fair value option, loans receivables are measured at each reporting period based upon their exit value in an orderly transaction and unrealized gains or losses from changes in fair value are recorded in the condensed consolidated statements of operations. Loans receivable, at fair value totaled $151,704 and $532,419 as of September 30, 2024 and December 31, 2023, respectively. The loans have various maturities through August 2033. As of September 30, 2024 and December 31, 2023, the historical cost of loans receivable accounted for under the fair value option was $442,880 and $555,882, respectively, which included principal balances of $446,089 and $563,637 respectively, and unamortized costs, origination fees, premiums and discounts, totaling $3,210 and $7,755, respectively. The principal balance of loans receivable exceeded the fair value of loans by $291,176 and $23,463 as of September 30,