Company: RILYN
Filing Date: 2025-01-14
Form Type: 10-Q
Source: 0001628280-25-001398
Chunk: 300

Company: B. Riley Financial, Inc.
Filing Date: 2025-01-14
Form: 10-Q
Item: Part I, Item 8
Chunk 300
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2033. As of June 30, 2024 and December 31, 2023, the historical cost of loans receivable accounted for under the fair value option was $447,013 and $555,882, respectively, which included principal balances of $451,138 and $563,637 respectively, and unamortized costs, origination fees, premiums and discounts, totaling $4,125 and $7,755, respectively. The principal balance of loans receivable exceeded the fair value of loans by $217,814 and $23,463 as of June 30, 2024 and December 31, 2023, respectively. At the time of origination, the Company's loans are collateralized by the assets of borrowers and other pledged collateral and may have guarantees to provide for protection of the payments due on loans receivable. During the three months ended June 30, 2024 and 2023, the Company recorded net unrealized losses of $175,582 and net unrealized gains of $9,207, respectively, and net unrealized losses of $194,352 and net unrealized gains of $52,666 during the six months ended June 30, 2024 and 2023, respectively, on loans receivable, at fair value, which is included in fair value adjustments on loans on the condensed consolidated statements of operations. Loans receivable, at fair value on non-accrual and 90 days or greater past due was approximately zero as of June 30, 2024. Loans receivable, at fair value on non-accrual and 90 days or greater past due was $41,236, which represents approximately 7.7% of total loans receivable, at fair value as of December 31, 2023. The principal balance of loans receivable on non-accrual and 90 days or greater past due was $43,326 as of December 31, 2023. Interest income for loans on non-accrual and/or 90 days or greater past due is recognized separately from changes in fair value adjustments on loans on the condensed consolidated statements of operations. The amount of gains or (losses) included in earnings attributable to changes in instrument – specific credit risk was $(176,078) and $8,621 during the three months ended June 30, 2024 and 2023, respectively, and $(187,417) and $46,109 during the six months ended June