Company: FRHC
Filing Date: 2025-02-07
Form Type: 10-Q
Source: 0000924805-25-000002
Chunk: 66

Company: Freedom Holding Corp.
Filing Date: 2025-02-07
Form: 10-Q
Item: Part I, Item 1
Chunk 66
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 $42,069 $48,217 Accumulated impairmentBalance as of March 31, 2023$— $— $— $832 $832 Impairment expense— — — — — Write-off due to deconsolidation of Freedom UA— — — (832)(832)Balance as of December 31, 2023$— $— $— $— $— Balance as of March 31, 2024$— $— $— $— $— Impairment expense— — — — — Balance as of December 31, 2024$— $— $— $— $— Goodwill, net of impairmentBalance as of December 31, 2023$2,670 $2,748 $980 $45,840 $52,238 Balance as of March 31, 2024$2,688 $2,746 $1,040 $46,174 $52,648 Balance as of December 31, 2024$2,531 $2,732 $885 $42,069 $48,217 Recent accounting pronouncementsIn August 2018, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2018-12, Financial Services – Insurance (Topic 944): Targeted Improvements to the Accounting for Long-Duration Contracts, as clarified and amended by (i) ASU 2019-09, Financial Services - Insurance (Topic 944): Effective Date, and (ii) ASU 2020-11, Financial Services - Insurance (Topic 944): Effective Date and Early Application (collectively referred 

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Table of ContentsFREEDOM HOLDING CORP.NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)(All amounts in thousands of United States dollars, except share data, unless otherwise stated)

to herein as ASU 2018-12). ASU 2018-12 changed existing recognition, measurement, presentation, and disclosure requirements for long-duration contracts. ASU 2018-12 includes: (1) a requirement to review and, if there is a change, update cash flow assumptions used to measure the liability for future policy benefits (LFPB