Company: RILYN
Filing Date: 2025-02-21
Form Type: 10-Q
Source: 0001628280-25-007082
Chunk: 55

Company: B. Riley Financial, Inc.
Filing Date: 2025-02-21
Form: 10-Q
Item: Part I, Item 1
Chunk 55
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,842 (Provision for) benefit from income taxes— (7,388)1 (3,911)1 (11,299)(Loss) income from discontinued operations, net of income taxes$(112,604)$21,699 $(11,223)$10,844 $(123,827)$32,543 

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Interest expense for discontinued operations is based upon the amount of debt that was required to be repaid as a result of the Brands Transaction and Great American Group transaction described above and amount to $9,531 and $7,736 for the three months ended September 30, 2024 and 2023, respectively, and $27,883 and $21,492 for the nine months ended September 30, 2024 and 2023, respectively.Cash flows from discontinued operations were as follows (in thousands):Nine Months EndedSeptember 30,20242023Net cash from discontinued operations provided by (used in):Operating activities$32,707 $9,793 Investing activities(5)— Financing activities(33,490)(25,353)Effect of foreign currency on cash749 (1,383)Net decrease in cash and cash equivalents$(39)$(16,943)Supplemental disclosures from cash flows were as follows (in thousands):Nine Months EndedSeptember 30,20242023Interest paid - Continuing Operations$179,695 $219,797 Interest paid - Discontinued Operations25,726 12,076 Interest paid - Total$205,421 $231,874 Taxes paid - Continuing Operations$3,645 7,796 Taxes paid - Discontinued Operations2,173 2 Taxes paid - Total$5,818 $7,798 

NOTE 5 — RESTRUCTURING CHARGE 

During the three and nine months ended September 30, 2024, the Company recognized restructuring charges of $116 and $925, respectively, primarily related to reorganization and consolidation activities in the Communications segment and Consumer Products segment, which consisted of reductions in workforce. During the three and nine months ended September 30, 2023, the Company recognized restructuring charges of $228 and $949, 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.

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The following tables summarize the changes in accrued restructuring charge during the three and nine months