Company: RILYN
Filing Date: 2025-02-21
Form Type: 10-Q
Source: 0001628280-25-007082
Chunk: 151

Company: B. Riley Financial, Inc.
Filing Date: 2025-02-21
Form: 10-Q
Item: Part I, Item 1
Chunk 151
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 ended September 30, 2024 from $68.8 million for the nine months ended September 30, 2023. The increase was primarily due to increases of $28.6 million from bebe in which we acquired a controlling interest and consolidated during the fourth quarter of 2023, $15.1 million from Nogin which was acquired in the second quarter of 2024, $9.0 million in legal expenses, $5.9 million in accounting expenses, $4.6 million from the regional environmental services business, $2.0 million in legal settlements, and $1.3 million in transaction costs, partially offset by decreases of $17.1 million in payroll and related expenses, which primarily related to decreases in share based compensation and other variable compensation, $2.0 million related to the landscaping business that was sold in 2023, $1.5 million in outside contractor expenses, and $0.4 million in other expenses.

Impairment of goodwill and tradenames. We recognized impairment charges of $27.7 million during the nine months ended September 30, 2024. We performed an interim impairment test as of June 30, 2024, as further discussed in Note 9 of the accompanying condensed consolidated financial statements. Based on the results of the impairment test, we recorded a non-cash impairment charge of $26.7 million related to goodwill and $1.0 million related to tradenames in the Consumer Products segment. We recognized impairment charges of $37.2 million during the nine months ended September 30, 2023 consisting of $8.0 million in impairment of indefinite-lived tradenames and $27.5 million of impairment of goodwill in the Consumer segment and $1.7 million in impairment of tradenames in the Capital Markets segment.

90

Other Income (Expense). Other income included interest income of $2.9 million and $3.5 million during the nine months ended September 30, 2024 and 2023, respectively. Dividend income was $4.1 million during the nine months ended September 30, 2024 compared to $9.5 million during the nine months ended September 30, 2023. Realized and unrealized losses on investments was a loss of $212.4 million during the nine months ended September 30, 2024 compared to a loss of $77.0 million during the nine months ended September 30, 2023. The change was primarily due