Beneficient
For the period ended Mar 31, 2024. Filed Jul 9, 2024.
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FY2024 · Filed Jul 9, 2024
BENF$0.70+3.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Year Ended March 31, | ||
|---|---|---|
| (Dollars in thousands) | 2024 | 2023 |
| Cash flows used in operating activities: | ||
| Net loss | $(2,658,180) | $(252,100) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation and amortization | 3,775 | 3,606 |
| Net amortization of debt premium and discount (related party of $(1,849) and $(6,154)) | (1,250) | (4,478) |
| Loss on extinguishment of debt, net | 8,846 | — |
| Loss on impairment of goodwill | 2,354,320 | — |
| Loss on arbitration | 54,973 | — |
| Loss on financial instruments, net (related party of $67,457 and $63,536) | 104,521 | 51,421 |
| Return on investments in alternative assets held by Customer ExAlt Trusts | — | 12,409 |
| Investment (income) loss, net | (4,791) | 54,010 |
| Non cash interest expense (related party of $9,463 and $324) | 17,699 | 11,223 |
| Non cash interest income | (446) | (359) |
| Non cash share-based compensation | 39,103 | 10,085 |
| Provision for credit losses | 6,016 | 20,580 |
| Provision for deferred taxes | — | (1,072) |
| Write-off of deferred financing costs for equity and fixed assets | — | 1,653 |
| Changes in assets and liabilities: | ||
| Changes in other assets | 5,965 | (13,013) |
| Changes in accounts payable and accrued expenses | 8,628 | 11,236 |
| Changes in other liabilities | 2,605 | (319) |
| Net cash used in operating activities | (58,216) | (95,118) |
| Cash flows from investing activities: | ||
| Return of investments in alternative assets held by Customer ExAlt Trusts | 46,268 | 72,551 |
| Purchase of investments in alternative assets held by Customer ExAlt Trusts | (1,420) | (2,589) |
| Purchase of premises and equipment | (1,759) | (2,077) |
| Proceeds from sale of put options by Ben | 968 | — |
| Proceeds from sale of public equity securities held by Customer ExAlt Trusts | — | 2,583 |
| Purchase of put options | — | (7,451) |
| Net cash provided by investing activities | 44,057 | 63,017 |
| Cash flows from financing activities: | ||
| Proceeds from debt financings | 25,000 | — |
| Payments on Customer ExAlt Trust loan payable | (6,780) | (17,907) |
| Redemption of BCG Preferred Series B Subclass 2 Unit Accounts | (1,413) | (4,637) |
| Proceeds received from issuance of Class A common under equity purchase agreement | 1,122 | — |
| Redemption of BCH Preferred Series A Subclass 1 Unit Accounts | — | (3,793) |
| Payment of deferred financing costs for debt | (1,585) | — |
| Payment of deferred financing costs for equity | (8,091) | (6,116) |
| Distribution to noncontrolling interest | (269) | (131) |
| Payment of employee income taxes on restricted stock units and restricted equity units | (116) | (1,125) |
| Proceeds from de-SPAC merger | 24,761 | — |
| Payment for prepaid forward purchase agreement | (20,038) | — |
| Payments on debt due to related parties | — | (750) |
| Net cash (used in) provided by financing activities | 12,591 | (34,459) |
| Net decrease in cash, cash equivalents, and restricted cash | (1,568) | (66,560) |
| Cash, cash equivalents, and restricted cash at beginning of period | 9,545 | 76,105 |
| Cash, cash equivalents, and restricted cash at end of period | $7,977 | $9,545 |
Refer to Note 21 for supplemental cash flow disclosures, including reconciliation of cash, cash equivalents, and restricted cash used in the consolidated statement of cash flows.
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