Company: DBRG
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001679688-25-000017
Chunk: 7

Company: DigitalBridge Group, Inc.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 7
Chunk 7
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), (ii) net fair value gain on our non-core marketable equity securities that were sold during the year ($11.0 million), (iii) fair value decrease of InfraBridge contingent consideration liability ($5.2 million), and (iv) fair value decrease of warrant liability ($5.5 million), all of which were partially offset by impairment of warehoused investments ($13.2 million).

The net gain in 2023 is mainly attributed to a $278.7 million gain recognized in connection with the deconsolidation of DataBank in September 2023 (of which $3.7 million was realized and $275.0 million unrealized),  largely offset by a $133.3 million write-off of an unsecured promissory note from the 2022 sale of our Wellness Infrastructure business. 2023 also included losses related to net decreases in investment values, including those held by our consolidated funds ($25.4 million) and fair value increase of warrant liability ($21.5 million). 

Income Tax Benefit (Expense)

Income tax expense was $2.9 million in 2024 and immaterial in 2023. This principally reflects the income tax expense of foreign subsidiaries. The Company otherwise has operating losses and capital loss carryforwards that can be applied against current income tax expense for its domestic entities, and has established a full valuation allowance on the deferred tax assets of these entities, resulting in immaterial income tax effect for its domestic entities. 

Income (Loss) from Discontinued OperationsYear Ended December 31,(In thousands)20242023ChangeRevenuesRevenues$7,649 $783,121 $(775,472)Expenses(10,669)(1,089,481)1,078,812 Other gain (loss)(16,035)(12,517)(3,518)Income (Loss) from discontinued operations before income taxes(19,055)(318,877)299,822 Income tax benefit (expense)190 (1,581)1,771 Income (Loss) from discontinued operations$(18,865)$(320,458)301,593 Income (Loss) from discontinued operations attributable to noncontrolling interests:Investment entities1,199 (260,120)261,319 Operating Company(1,372)(4,339)2,967 Income (Loss) from discontinued operations attributable to DigitalBridge Group, Inc.$(18,