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Burford Capital Limited
Companies
"Benefits"
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Tables in SEC filings
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Principal Finance segment | Years ended December 31, | ($ in thousands) | 2024 | 2023 | Change | % change | ||||||||||||
Capital provision income/(loss) | $ | 388,124 | $ | 896,371 | $ | (508,247) | (57) | % | ||||||||||
Marketable securities income/(loss) and interest | 24,578 | 12,067 | 12,511 | 104 | % | |||||||||||||
Total revenues | 412,702 | 908,438 | (495,736) | (55) | % | |||||||||||||
Compensation and benefits | 101,758 | 196,623 | (94,865) | (48) | % | |||||||||||||
General, administrative and other | 25,012 | 29,219 | (4,207) | (14) | % | |||||||||||||
Case-related expenditures ineligible for inclusion in asset cost | (1,057) | 14,671 | (15,728) | NM | ||||||||||||||
Total operating expenses | 125,713 | 240,513 | (114,800) | (48) | % | |||||||||||||
Finance costs | 135,593 | 99,136 | 36,457 | 37 | % | |||||||||||||
Foreign currency transactions (gains)/losses | 1,244 | (21,737) | 22,981 | NM | ||||||||||||||
Total other expenses | 136,837 | 77,399 | 59,438 | 77 | % | |||||||||||||
Income/(loss) before income taxes | 150,152 | 590,526 | (440,374) | (75) | % |
Years ended December 31, | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2024 | 2023 | 2022 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Revenues | Capital provision income/(loss) | $ | 552,066 | $ | 1,341,923 | $ | 319,108 | Plus/(Less): Third-party interests in capital provision assets | (42,384) | (279,263) | (494) | Asset management income/(loss) | 8,340 | 7,642 | 9,116 | Marketable securities income/(loss) and interest | 25,014 | 12,208 | (7,744) | Other income/(loss) | 3,051 | 4,392 | (759) | Total revenues | 546,087 | 1,086,902 | 319,227 | Operating expenses | Compensation and benefits | Salaries and benefits | 42,418 | 39,788 | 34,207 | Annual incentive compensation | 29,210 | 32,697 | 24,338 | Share-based and deferred compensation | 8,822 | 21,128 | 11,201 | Long-term incentive compensation including accruals | 43,209 | 127,471 | 16,600 | General, administrative and other | 31,025 | 33,656 | 29,681 | Case-related expenditures ineligible for inclusion in asset cost | 801 | 16,496 | 8,245 | Total operating expenses | 155,485 | 271,236 | 124,272 | Operating income/(loss) | 390,602 | 815,666 | 194,955 | Other expenses | Finance costs | 135,593 | 99,135 | 78,264 | Foreign currency transactions (gains)/losses | 1,421 | (21,752) | 7,674 | Total other expenses | 137,014 | 77,383 | 85,938 | Income/(loss) before income taxes | 253,588 | 738,283 | 109,017 | Provision for/(benefit from) income taxes | 24,005 | 20,084 | 11,558 | Net income/(loss) | 229,583 | 718,199 | 97,459 | Net income/(loss) attributable to non-controlling interests | 83,099 | 107,677 | 66,953 | Net income/(loss) attributable to Burford Capital Limited shareholders | 146,484 | 610,522 | 30,506 | Net income/(loss) attributable to Burford Capital Limited shareholders per ordinary share | Basic | $0.67 | $2.79 | $0.14 | Diluted | $0.66 | $2.74 | $0.14 | Weighted average ordinary shares outstanding | Basic | 219,231,837 | 218,865,816 | 218,757,232 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Diluted | 223,231,672 | 223,014,890 | 221,802,486 |
Year ended December 31, 2024 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reconciliation | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
($ in thousands) | Principal Finance | Asset Management and Other Services | Total segments (Burford-only) | Reconciling items(1) | Total consolidated | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Capital provision income/(loss) | $ | 388,124 | $ | — | $ | 388,124 | $ | 163,942 | $ | 552,066 | Plus/(Less): Third-party interests in capital provision assets | — | — | — | (42,384) | (42,384) | Asset management income/(loss) | — | 44,627 | 44,627 | (36,287) | 8,340 | Marketable securities income/(loss) and interest | 24,578 | — | 24,578 | 436 | 25,014 | Other income/(loss) | — | 3,051 | 3,051 | — | 3,051 | Total revenues | 412,702 | 47,678 | 460,380 | 85,707 | 546,087 | Compensation and benefits | 101,758 | 21,901 | 123,659 | — | 123,659 | General, administrative and other | 25,012 | 5,440 | 30,452 | 573 | 31,025 | Case-related expenditures ineligible for inclusion in asset cost | (1,057) | — | (1,057) | 1,858 | 801 | Operating expenses | 125,713 | 27,341 | 153,054 | 2,431 | 155,485 | Other expenses | Finance costs | 135,593 | — | 135,593 | — | 135,593 | Foreign currency transactions (gains)/losses | 1,244 | — | 1,244 | 177 | 1,421 | Total other expenses | 136,837 | — | 136,837 | 177 | 137,014 | Income/(loss) before income taxes | 150,152 | 20,337 | 170,489 | 83,099 | 253,588 | 1. Reconciling items include the proportional operating results that are attributable to third-party limited partners and minority investors in consolidated entities, including BOF-C, the Strategic Value Fund, the Advantage Fund and Colorado. |
Year ended December 31, 2023 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reconciliation | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
($ in thousands) | Principal Finance | Asset Management and Other Services | Total segments (Burford-only) | Reconciling items(1) | Total consolidated | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Capital provision income/(loss) | $ | 896,371 | $ | — | $ | 896,371 | $ | 445,552 | $ | 1,341,923 | Plus/(Less): Third-party interests in capital provision assets | — | — | — | (279,263) | (279,263) | Asset management income/(loss) | — | 63,712 | 63,712 | (56,070) | 7,642 | Marketable securities income/(loss) and interest | 12,067 | — | 12,067 | 141 | 12,208 | Other income/(loss) | — | 4,392 | 4,392 | — | 4,392 | Total revenues | 908,438 | 68,104 | 976,542 | 110,360 | 1,086,902 | Compensation and benefits | 196,623 | 24,461 | 221,084 | — | 221,084 | General, administrative and other | 29,219 | 3,564 | 32,783 | 873 | 33,656 | Case-related expenditures ineligible for inclusion in asset cost | 14,671 | — | 14,671 | 1,825 | 16,496 | Operating expenses | 240,513 | 28,025 | 268,538 | 2,698 | 271,236 | Other expenses | Finance costs | 99,136 | — | 99,136 | (1) | 99,135 | Foreign currency transactions (gains)/losses | (21,737) | — | (21,737) | (15) | (21,752) | Total other expenses | 77,399 | — | 77,399 | (16) | 77,383 | Income/(loss) before income taxes | 590,526 | 40,079 | 630,605 | 107,678 | 738,283 | 1. Reconciling items include the proportional operating results that are attributable to third-party limited partners and minority investors in consolidated entities, including BOF-C, the Strategic Value Fund, the Advantage Fund and Colorado. |
Year ended December 31, 2022 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reconciliation | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
($ in thousands) | Principal Finance | Asset Management and Other Services | Total segments (Burford-only) | Reconciling items(1) | Total consolidated | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Capital provision income/(loss) | $ | 202,878 | $ | — | $ | 202,878 | $ | 116,230 | $ | 319,108 | Plus/(Less): Third-party interests in capital provision assets | — | — | — | (494) | (494) | Asset management income/(loss) | — | 56,080 | 56,080 | (46,964) | 9,116 | Marketable securities income/(loss) and interest | (7,594) | — | (7,594) | (150) | (7,744) | Other income/(loss) | — | (759) | (759) | — | (759) | Total revenues | 195,284 | 55,321 | 250,605 | 68,622 | 319,227 | Compensation and benefits | 62,659 | 23,687 | 86,346 | — | 86,346 | General, administrative and other | 14,673 | 14,040 | 28,713 | 968 | 29,681 | Case-related expenditures ineligible for inclusion in asset cost | 7,637 | — | 7,637 | 608 | 8,245 | Operating expenses | 84,969 | 37,727 | 122,696 | 1,576 | 124,272 | Other expenses | Finance costs | 78,264 | — | 78,264 | — | 78,264 | Foreign currency transactions (gains)/losses | 7,581 | — | 7,581 | 93 | 7,674 | Total other expenses | 85,845 | — | 85,845 | 93 | 85,938 | Income/(loss) before income taxes | 24,470 | 17,594 | 42,064 | 66,953 | 109,017 | 1. Reconciling items include the proportional operating results that are attributable to third-party limited partners and minority investors in consolidated entities, including BOF-C, the Strategic Value Fund, the Advantage Fund and Colorado. |