Company: RILY
Filing Date: 2025-12-15
Form Type: 10-Q
Source: 0001464790-25-000029
Chunk: 328

Company: B. Riley Financial, Inc.
Filing Date: 2025-12-15
Form: 10-Q
Item: Part I, Item 8
Chunk 328
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 Operating results from the disposal groups comprising the Wealth Management business and Atlantic Coast Recycling contributed to the operating incomes of the Wealth Management and All Other segment categories, respectively, for the six months ended June 30, 2025.Assets and liabilities held for sale consist of the following:As of December 31, 2024AtlanticWealthCoastManagementRecyclingTotalAssets Held for SaleCash and cash equivalents$— $1,324 $1,324 Accounts receivable, net of allowance of $18— 3,698 3,698 Prepaid expenses and other assets3,704 2,427 6,131 Operating lease right-of-use assets512 21,127 21,639 Property and equipment, net71 22,799 22,870 Goodwill13,861 3,280 17,141 Other intangible assets, net2,678 9,242 11,920 Total assets held for sale$20,826 $63,897 $84,723 Liabilities Held for SaleAccounts payable$— $1,410 $1,410 Accrued expenses and other liabilities— 13,290 13,290 Operating lease liabilities525 24,371 24,896 Notes payable— 1,909 1,909 Total liabilities held for sale$525 $40,980 $41,505 Discontinued OperationsThe Company presents a disposition of a component, being an operating or reportable segment, business unit, subsidiary or asset group, that represents a strategic shift that has or will have a major effect on the Company’s operations and financial results as discontinued operations when the components meet the criteria to be classified as held for sale. The following operations have been presented as discontinued operations. Brands TransactionOn October 25, 2024, the Company completed a transaction whereby the Company contributed and transferred its controlling equity interest in the assets and intellectual properties related to the licenses of Catherine Malandrino, English Laundry, Joan Vass, Kensie Girl, Limited Too and Nanette Lepore (“Six Brands”), which were previously consolidated in 

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the Company’s financial statements, and the noncontrolling equity interests the Company owned in the assets and intellectual properties of Hurley, Justice, and Scotch & Soda (collectively with Six Brands, the “Brands Interests”), which the Company had elected to account for the equity investments under the fair value option, into a secur