SoFi Technologies Inc
For the period ended Mar 31, 2024. Filed May 7, 2024.
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Mar 31, 2024 · Filed May 7, 2024
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Reconciliation of Directly Attributable Expenses
The following table reconciles directly attributable expenses allocated to our reportable segments to total noninterest expense in the condensed consolidated statements of operations and comprehensive income (loss):
| Three Months Ended March 31, | ||
|---|---|---|
| ($ in thousands) | 2024 | 2023 |
| Reportable segments directly attributable expenses | $(294,605) | $(283,554) |
| Intercompany expenses | 7,001 | 3,741 |
| Expenses not allocated to segments: | ||
| Share-based compensation expense | (55,082) | (64,226) |
| Employee-related costs(1) | (62,384) | (61,814) |
| Depreciation and amortization expense | (48,539) | (45,321) |
| Other corporate and unallocated expenses(2) | (97,160) | (57,043) |
| Total noninterest expense | $(550,769) | $(508,217) |
(1)Includes compensation, benefits, restructuring charges, recruiting, certain occupancy-related costs and various travel costs of executive management, certain technology groups and general and administrative functions that are not directly attributable to the reportable segments.
(2)Represents corporate overhead costs that are not allocated to reportable segments, which primarily includes corporate marketing and advertising costs, tools and subscription costs, professional services costs, corporate and FDIC insurance costs, foreign currency translation adjustments and transaction-related expenses.
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