Company: DBRG
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001679688-25-000043
Chunk: 20

Company: DigitalBridge Group, Inc.
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 1
Chunk 20
---
 (Note 14)1,595 1,675 Other liabilities5,750 6,579 Liabilities of discontinued operations303 259 Securities sold short—consolidated funds53,822 47,930 Due to custodians—consolidated funds10,891 9,121 Other liabilities$677,377 $725,766 __________(1)    Deferred investment management fees are expected to be recognized as fee revenue over a weighted average period of 3.3 years and 3.2 years as of March 31, 2025 and December 31, 2024. Deferred investment management fees recognized as income of $1.5 million and $1.2 million in the three months ended March 31, 2025 and 2024, respectively, pertain to the deferred management fee balance at the beginning of each respective period.Deferred Income Taxes

The Company has significant deferred tax assets, related principally to capital loss carryforwards, outside basis difference in DBRG's interest in the OP, outside basis difference in investment in partnerships and net operating losses generated by a taxable U.S. subsidiary. As of March 31, 2025 and December 31, 2024, a full valuation allowance has been established as the realizability of these deferred tax assets did not meet the more-likely-than-not threshold. 

6. Debt The Company's corporate debt is composed of a securitized financing facility and, prior to their full exchange or redemption in 2024, senior notes issued by the OP that are recourse to the Company, as discussed further below. March 31, 2025December 31, 2024(In thousands)PrincipalDeferred Financing CostAmortized CostPrincipalDeferred Financing CostAmortized CostSecuritized financing facility$300,000 $(3,114)$296,886 $300,000 $(3,638)$296,362 Securitized Financing FacilityIn July 2021, special-purpose subsidiaries of the OP (the "Co-Issuers") issued Series 2021-1 Secured Fund Fee Revenue Notes, composed of: (i) $300 million aggregate principal amount of 3.933% Secured Fund Fee Revenue Notes, Series 2021-1, Class A-2 (the “Class A-2 Notes”); and (ii) up to $300 million (following a $100 million increase in April 2022) Sec