Company: RILYN
Filing Date: 2025-01-14
Form Type: 10-Q
Source: 0001628280-25-001398
Chunk: 334

Company: B. Riley Financial, Inc.
Filing Date: 2025-01-14
Form: 10-Q
Item: Part I, Item 8
Chunk 334
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)(7,339)Accounts receivable, net$115,681 $115,496 Additions and changes to the allowance for credit losses consist of the following:Three Months EndedJune 30,Six Months EndedJune 30,2024202320242023Balance, beginning of period$7,122 $6,324 $7,339 $3,664 Add: Additions to reserve740 629 1,176 3,802 Less: Write-offs(609)(713)(1,262)(1,201)Less: Recovery— 25 — — Balance, end of period$7,253 $6,265 $7,253 $6,265 

NOTE 7 — PREPAID EXPENSES AND OTHER ASSETS

Prepaid expenses and other assets consist of the following:June 30,2024December 31,2023Inventory$83,178 $93,853 Rental merchandise, net14,235 16,629 Equity method investments2,551 2,087 Prepaid expenses21,324 24,813 Unbilled receivables13,414 13,402 Other receivables55,049 39,001 Other assets31,713 47,542 Prepaid expenses and other assets$221,464 $237,327 

Unbilled receivables represent the amount of contractual reimbursable costs and fees for services performed in connection with fee and service based contracts in the Auction and Liquidation segment, mobile handsets in the Communications segment, and consulting related engagements in the Financial Consulting segment. Other receivables primarily consist of interest receivables on loans and loans receivables that are held at cost. Other assets primarily consist of deposits, real estate held for investment, deferred financing costs, and finance lease assets. 

NOTE 8 — GOODWILL AND OTHER INTANGIBLE ASSETS

Goodwill was $502,341 and $472,326 as of June 30, 2024 and December 31, 2023, respectively. The increase in goodwill during the six months ended June 30, 2024 was primarily due to $56,028 from the acquisition of Nogin in the All Other category and $1,431 from an immaterial acquisition in the Financial Consulting segment, partially offset by $26,681 from goodwill impairment in the Consumer Products segment.

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The changes in the