v3.26.1
DISCONTINUED OPERATIONS AND ASSETS HELD FOR SALE (Tables)
 12 Months Ended
Dec. 31, 2025
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of disposal groups, including discontinued operations
Assets and liabilities held for sale consist of the following:
As of December 31, 2024
Wealth ManagementAtlantic Coast RecyclingTotal
Assets Held for Sale
Cash and cash equivalents$— $1,324 $1,324 
Accounts receivable, net of allowance of $18
— 3,698 3,698 
Prepaid expenses and other assets3,704 2,427 6,131 
Operating lease right-of-use assets512 21,127 21,639 
Property and equipment, net71 22,799 22,870 
Goodwill13,861 3,280 17,141 
Other intangible assets, net2,678 9,242 11,920 
Total assets held for sale$20,826 $63,897 $84,723 
Liabilities Held for Sale
Accounts payable$— $1,410 $1,410 
Accrued expenses and other liabilities— 13,290 13,290 
Operating lease liabilities525 24,371 24,896 
Notes payable— 1,909 1,909 
Total liabilities held for sale$525 $40,980 $41,505 
The major classes of assets and liabilities included in discontinued operations were as follows:
GlassRatner & Farber
December 31,
20252024
Assets:
Cash and cash equivalents$— $8,025 
Accounts receivable, net— 19,704 
Prepaid expenses and other assets2,221 9,222 
Operating lease right-of-use assets— 2,258 
Property and equipment, net— 275 
Goodwill— 30,450 
Other intangible assets, net— 439 
Total assets$2,221 $70,373 
Liabilities:
Accounts payable$— $1,326 
Accrued expenses and other liabilities830 14,359 
Deferred revenue— 5 
Contingent consideration— 3,092 
Operating lease liabilities— 2,539 
Total liabilities$830 $21,321 
Revenues, expenses, and income from discontinued operations for the year ended December 31, 2025 were as follows (in thousands):
GlassRatner & Farber
Year Ended December 31,
2025
Revenues:
Services and fees$40,575 
Operating expenses:
Selling, general and administrative expenses34,205 
Operating income6,370 
Other income (expense):
Interest income7 
Gain on disposal of discontinued operations
66,795 
Interest expense
(1,866)
Income from discontinued operations before income taxes71,306 
Provision for income taxes(465)
Income from discontinued operations, net of income taxes$70,841 
Revenues and income (loss) from discontinued operations were as follows (in thousands):
Year Ended December 31, 2024
Brands TransactionGreat American GroupGlassRatner & FarberTotal
Revenues:
Services and fees$14,755 $80,612 $92,176 $187,543 
Sale of goods— 21,574 — 21,574 
Total revenues14,755 102,186 92,176 209,117 
Operating expenses:
Direct cost of services— 24,363 — 24,363 
Cost of goods sold— 17,992 — 17,992 
Selling, general and administrative expenses3,071 52,425 70,367 125,863 
Total operating expenses3,071 94,780 70,367 168,218 
Operating income
11,684 7,406 21,809 40,899 
Other income (expense):
Interest income— 6 21 27 
Dividend income32,568 — — 32,568 
Realized and unrealized (losses) gains on investments(109,196)— — (109,196)
Losses on extinguishment of loans and other(434)— (163)(597)
(Loss) gain on disposal of discontinued operations(40,782)258,286 — 217,504 
Interest expense(2,274)(30,089)— (32,363)
(Loss) income from discontinued operations before income taxes(108,434)235,609 21,667 148,842 
Provision for income taxes(1,212)(48)(112)(1,372)
(Loss) income from discontinued operations, net of income taxes$(109,646)$235,561 $21,555 $147,470 
Cash flows from discontinued operations were as follows (in thousands):
Year Ended December 31,
20252024
Net cash from discontinued operations provided by (used in):
Operating activities$20,156 $42,907 
Investing activities114,032 400,038 
Financing activities(142,715)(447,562)
Effect of foreign currency on cash502 (2,636)
Net decrease in cash, cash equivalents and restricted cash $(8,025)$(7,253)
Schedule of income taxes paid
Supplemental disclosures from cash flows were as follows (in thousands):
Year Ended December 31,
Supplemental disclosures from cash flows:20252024
Interest paid - Continuing Operations$95,174 $210,349 
Interest paid - Discontinued Operations1,866 29,949 
Interest paid - Total$97,040 $240,298 
Taxes paid - Continuing Operations$5,227 $4,751 
Taxes paid - Discontinued Operations— 2,173 
Taxes paid - Total$5,227 $6,924 
Net income tax payments during the year ended December 31, 2025 are as follows:
Year Ended December 31, 2025
Federal$(605)
States and local:
Alabama292 
California709 
New York552 
Tennessee220 
Texas247 
Other states and local744 
Total states and local2,764 
Foreign:
Australia241 
Canada611 
India239 
United Kingdom1,904 
Other foreign73 
Total foreign3,068 
Total net income tax payments$5,227