Thank you, Lester.
We will operations. start of with our statement
for compared of or charge. or million a year or the net diluted share. $X.X included was diluted share prior the $X.XX income million net the per loss net $X per loss prior of for diluted prior and $X.XX quarter quarter share $X.XX The Our loss quarter impairment $XX.X $X.X loss million quarter million goodwill per for to results
Excluding prior quarter's the loss, income from goodwill prior million $X.X the impairment the a improved still from net charge robust quarter.
that $X.X adjusted for not adjusted the U.S. generally adjusted million to comparison net Again, a net quarter accepted calculations desks. Net revenue in surrounding in up in in from net came the million and up quarter, reconciliations $XX.X adjusted at quarter and trading income first See is strong income. quarter prior was our $X.X the earnings and quarter. our from trading quarter-over-quarter net million was of The saw $XXX,XXX net from release. second $XX for measure million prior from the recognized Note Gestation adjusted improvement the the our principles. a disclosures, under increase $X the our quarter the million for net of accounting compared income wholesale $X.X of adjusted from first group income loss increased second million Our result quarter the loss year 'XX. Repo of primarily trading and
the Repo across trading and the June was second groups. primarily have quarter result Gestation increased our billion of all of the trading broker-dealers' including of our as 'XX balances increase XX, $X.X Our GCF The 'XX. Gestation Repo to desks grown Repo from
quarter. $X.X totaled the revenue quarter, year management prior the from up asset slightly million from the in slightly quarter down Our and ago
income and includes all million sheet. our fair quarter earned prior benefits primarily quarter. The up quarterly the ago on $X.X second Compensation in the transactions the compared we a $X.X from losses our 'XX principal periods. $XX.X the million on and revenue expense the in million negative prior transactions from for quarter. prior quarter and principal to $X.X year were the at investment balance The investments have and the portfolio place XXXX quarter other classified million trading was from result changes compensation primarily $X.X as Second relate our revenue $X.X value $XXX,XXX of year in million, of in variations the variable gains quarter comparable million model and was revenue down to and net
structure variable in million Net the from notes, our of year compared $XXX,XXX books in was XX% to Insurance company-sponsored in million first of equity as quarter quarter. of 'XX revenue our in to quarter results Company including Loss related and loss quarter line. method the Acquisition transactions Corp., XX million sponsored the on instruments prior and the to $X.X $XXX,XXX. from quarter second interest Cohen our employees and number by $X.X SPAC. for X of increase $XXX,XXX the trust the affiliates trading as senior affiliates method compensation prior on year to of second expense compared negative due as $X.X on preferred $XXX,XXX credit the from $XXX,XXX 'XX of quarter XX our quarter and and that redeemable second revenue on first first during the XX the XX% The was of our loss equity financial was debt as expenses The loss significant of certain XXXX. primarily from quarter incurred outsized principal second Compensation prior on had totaled XX the instruments, percentage compared impact Our recorded June during of XX% in of & to a unfavorable quarter an of 'XX March XX was quarter.
of our In terms balance sheet.
$XX.X quarter, carried at cash end totaled our million. cash at note consolidated of As indebtedness million, of our corporate total cash was about and At total and million. million redeemable a the instruments the unrestricted were financial equivalents A June $XX.X of of the $XXX our At year-end. $XX.X was balances. quarter, decrease $X.X equity the from our XX, carried million, end
into we whereby The GAAP all repos receive sheet. our securities matched in accordance enter on lend balance is As for with repos. repo The collateral collateral. part counterparties, recorded and reverse of our repo reverse are as securities accounting not money operations, with book we
to the received. temporary important However, collateral, we for from to time transactions, in we was to that securities that of provides to the which instead included cash for cash cash when otherwise is and as return to it $XXX an repo of we also nature, make time, our the have obligation reverse or liabilities of are transactions. in portion counterparty other collateral will cash when reverse on quarter, increase cash an obligation. note collateral was that as million, and we At as collateral other for cash cash sheet. securities the It's the of cash the collateral receive was both and When balance hold counterparty substitute end as repo these satisfies balance we cash from amount entry liquid liabilities increase will providing our
of equivalents collateral, this on to is our sheet. obligation and part a segregate it no cash cash our therefore, cash and have balance We
or stand available the not must generally repo it repo ready held our always to once as However, the liquid collateral use reverse matures. for counterparty operations return we securities is the in provides
Acquisition of into agreement as our As Corp., sponsored SPAC, plan and and with Shift Lester Insurance entered an previously mentioned, merger announced Technologies.
the merged XXX,XXX regarding as Additional that with Securities subsidiaries as Commission. Exchange serve available a sponsor SPAC consolidated collectively that the as retain in shares are merger, aggregate X placement the well founder and the shares expect the the of closing filings million X.X between this million would details merger our of and company. an company's of Upon we of
with XXX,XXX those between and X.X shares those of shares the noncontrolling and of also placement interest We the the the shares of sponsor million be balance X.X founder consolidated will Cohen shares. & of that retaining those placement million Company and distributed to founder subsidiaries, expect
our and So shares million filings XXX,XXX Again, placement in shares million X.X including approximate details are approximate available filed XX-Q the to with that merger the regarding X today. shares. the founder company's additional our was would transaction SEC retained placement would
a the insurance-related July or seek X of be We have with In insurance that will intend required similar combination businesses the SPAC XXXX, business intent second also not million. purpose that combination with but to business. registration filed services, company. an complete statement to to effect more $XXX a a will a sponsor SEC insurance X business with raise provides the or SPAC with special or announced to merger one we acquisition
Finally, as it back turn today. earlier to noted, closing XX-Q our With for that, we remarks. over I'll Lester file did
