Company: RILYN
Filing Date: 2025-02-21
Form Type: 10-Q
Source: 0001628280-25-007082
Chunk: 428

Company: B. Riley Financial, Inc.
Filing Date: 2025-02-21
Form: 10-Q
Item: Part I, Item 8
Chunk 428
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 net loss attributable to noncontrolling interests was $3.2 million during the three months ended September 30, 2024 compared to net loss of $2.5 million during the three months ended September 30, 2023.

Net Loss Attributable to the Company. Net loss attributable to the Company was $284.4 million during the three months ended September 30, 2024 compared to net loss attributable to the Company of $73.8 million for the three months ended September 30, 2023. The decrease was due to a change in operating (loss) income of $73.8 million, a change in provision for income taxes of $38.1 million, a change in net loss attributable to noncontrolling interests and redeemable noncontrolling interests of $0.7 million, and a decrease in realized and unrealized (losses) gains on investments of $55.1 million, a decrease of $2.7 million in dividend income, partially offset by a decrease in interest expense of $4.5 million, an increase in change in fair value of financial instruments and other of $4.6 million, and an increase of $1.3 million in interest income. 

Preferred Stock Dividends. Preferred stock dividends were $2.0 million for the three months ended September 30, 2024 and 2023. Dividends on the Series A preferred paid during the three months ended September 30, 2024 and 2023 

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were $0.4296875 per depository share. Dividends on the Series B preferred paid during the three months ended September 30, 2024 and 2023 were $0.4609375 per depository share.

Net Loss Available to Common Shareholders. Net loss available to common shareholders was $286.4 million during the three months ended September 30, 2024 compared to net loss available to common shareholders $75.8 million during the three months ended September 30, 2023. The decrease was due to a change in operating (loss) income of $73.8 million, a change in provision for income taxes of $38.1 million, a change in net loss attributable to noncontrolling interests and redeemable noncontrolling interests of $0.7 million, and a decrease of $2.7 million in dividend income, partially offset by a decrease in realized and unrealized (losses) gains on investments of $55.1 million