| Disposal Groups, Including Discontinued Operations |
The following table summarizes the major classes of assets and liabilities classified as discontinued operations as of December 31, 2024 and December 31, 2023 (in thousands):
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December 31, 2024 |
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December 31, 2023 |
| Assets |
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| Other assets, net |
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$ |
2,451
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$ |
6,721 |
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| Liabilities |
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| Payables and other liabilities |
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11,677
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18,304 |
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The following table summarizes the major components of net loss from discontinued operations (in thousands):
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For the year ended December 31, 2024 |
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For the year ended December 31, 2023 |
| Portfolio interest income |
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| Interest income |
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$ |
—
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$ |
824 |
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| Interest expense |
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—
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(966) |
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| Net portfolio interest income (expense) |
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—
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(142) |
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| Other income (expense) |
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| Net origination gains |
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—
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308 |
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| Net fair value changes on loans and related obligations |
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—
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308 |
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| Fee income |
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—
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68,138 |
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| Loss on sale and other income from loans held for sale, net |
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—
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(2,222) |
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| Net other income (expense) |
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—
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66,224 |
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| Total revenues |
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—
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66,082 |
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| Expenses |
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| Salaries, benefits, and related expenses |
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—
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51,780 |
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| Loan production and portfolio related expenses |
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—
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1,224 |
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| Marketing and advertising expenses |
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—
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1,042 |
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| Depreciation and amortization |
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—
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5,176 |
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| General and administrative expenses |
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1,622
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54,070 |
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| Total expenses |
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1,622
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113,292 |
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Impairment of intangibles and other assets(1)
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—
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(4,455) |
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Other, net(2)
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(3,105) |
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(1,444) |
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| Net loss from discontinued operations before income taxes |
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(4,727) |
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(53,109) |
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| Benefit for income taxes from discontinued operations |
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—
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(1,200) |
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| Net loss from discontinued operations |
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(4,727) |
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(51,909) |
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| Net loss from discontinued operations attributable to noncontrolling interest |
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(2,719) |
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(33,108) |
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| Net loss from discontinued operations attributable to controlling interest |
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$ |
(2,008) |
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$ |
(18,801) |
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(1) The Company evaluates the carrying value of long-lived assets, including intangible assets, fixed assets, and ROU assets, when indicators of impairment exist in accordance with ASC 360. Based on the analyses, the Company recognized impairment charges for the year ended December 31, 2023 related to the sales of the previously reported Lender Services and Commercial Originations segments.
(2) Amount includes gains on disposals of $0.3 million for the year ended December 31, 2023. The gains on disposals consist of a $12.8 million gain on the sale of the remaining assets of the Lender Services segment, a $11.7 million loss on the sale of our commercial originations operational assets, and a $0.8 million loss on the sale of ANTIC and BNT.
There were no material cash flow activities related to discontinued operations for the year ended December 31, 2024. The Consolidated Statement of Cash Flows for the year ended December 31, 2023 included the following material activities related to discontinued operations (in thousands):
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For the year ended December 31, 2023 |
| Loss on sale and other income from loans held for sale, net |
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$ |
(2,222) |
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| Unrealized fair value changes on loans, related obligations, and derivatives |
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|
308 |
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| Impairment of intangibles and other assets |
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4,455 |
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| Depreciation and amortization |
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5,176 |
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| Acquisition of fixed assets |
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1,815 |
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