Atlantic American Corporation (AAME) Financial Statements (2024 and earlier)

Company Profile

Business Address 4370 PEACHTREE RD NE
ATLANTA, GA 30319
State of Incorp. GA
Fiscal Year End December 31
Industry (SIC) 6311 - Life Insurance (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

3/31/2024
MRQ
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments37,71440,42543,87738,03535,81533,388
Cash and cash equivalents28,30128,86324,75319,31912,89312,630
Short-term investments9,41311,56219,12418,71622,92220,758
Total current assets:37,71440,42543,87738,03535,81533,388
Noncurrent Assets
Operating lease, right-of-use asset2,6143,4054,1434,8325,476
Long-term investments and receivables1,2381,2381,2381,2381,2381,238
Long-term investments1,2381,2381,2381,2381,2381,238
Intangible assets, net (including goodwill), including:2,5442,5442,5442,5442,5442,544
Other undisclosed intangible assets, net (including goodwill)2,5442,5442,5442,5442,5442,544
Total noncurrent assets:6,3967,1877,9258,6149,2583,782
Other undisclosed assets337,155319,452350,484358,538332,553307,104
TOTAL ASSETS:381,265367,064402,286405,187377,626344,274
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Noncurrent Liabilities
Long-term debt and lease obligation3,0192,009    
Long-term debt, excluding current maturities3,0192,009    
Total noncurrent liabilities:3,0192,009    
Other undisclosed liabilities270,971262,862261,000260,127259,232242,902
Total liabilities:273,990264,871261,000260,127259,232242,902
Equity
Equity, attributable to parent107,275102,193141,286145,060118,394101,372
Preferred stock555555555555
Common stock22,40122,40122,40122,40122,40122,401
Treasury stock, value(7,401)(7,389)(7,490)(7,339)(7,580)(7,985)
Additional paid in capital57,42557,42557,44157,43757,82057,414
Deferred compensation equity(13)(132)(73)(284)(781)(186)
Accumulated other comprehensive income (loss)(16,121)(22,149)17,68825,00010,459(7,535)
Retained earnings50,92951,98251,26447,79036,02037,208
Total equity:107,275102,193141,286145,060118,394101,372
TOTAL LIABILITIES AND EQUITY:381,265367,064402,286405,187377,626344,274

Income Statement (P&L) ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues186,793187,851199,554195,348198,179185,553
Premiums earned, net178,825185,440184,216183,539181,925172,931
Cost of revenue(138,966)(142,901)(155,758)(139,269)(156,513)(150,261)
Policyholder benefits and claims incurred, net(122,500)(123,456)(131,694)(119,876)(139,225)(132,650)
Deferred policy acquisition costs, amortization expense (16,440)(19,445)(24,064)(19,393)(17,288)(17,611)
Gross profit:47,82744,95043,79656,07941,66635,292
Operating expenses(84,000)(86,475)(86,934)(81,563)(79,783)(77,362)
Other operating expense, net
(Other Expenses)
(15,465)(13,634)(13,675)(11,548)(11,754)(12,795)
Other undisclosed operating income53,18064,78755,31848,54642,37950,934
Operating income (loss):1,5429,628(1,495)11,514(7,492)(3,931)
Nonoperating expense
(Investment Income, Nonoperating)
 (253)(265)(301)(255)(107) 
Interest and debt expense(3,269)(1,952)(1,387)(1,610)(2,130)(2,037)
Other undisclosed loss from continuing operations before equity method investments, income taxes      
Income (loss) from continuing operations before equity method investments, income taxes:(1,980)7,411(3,183)9,649(9,729)(5,968)
Other undisclosed income (loss) from continuing operations before income taxes1,415(5,315)8,4855,8549,3224,997
Income (loss) from continuing operations before income taxes:(565)2,0965,30215,503(407)(971)
Income tax expense (benefit)394(571)(1,021)(3,334)21267
Income (loss) from continuing operations:(171)1,5254,28112,169(386)(704)
Income (loss) before gain (loss) on sale of properties:4,28112,169(386)(704)
Net income (loss) attributable to parent:(171)1,5254,28112,169(386)(704)
Preferred stock dividends and other adjustments(399)(399)(399)(399)(399)(399)
Net income (loss) available to common stockholders, basic:(570)1,1263,88211,770(785)(1,103)
Dilutive securities, effect on basic earnings per share      
Other undisclosed net income available to common stockholders, diluted    399  
Net income (loss) available to common stockholders, diluted:(570)1,1263,88212,169(785)(1,103)

Comprehensive Income ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net income (loss):(171)1,5254,28112,169(386)(704)
Other comprehensive income (loss) (1,208)    1,525
Other undisclosed comprehensive loss      
Comprehensive income (loss):(1,379)1,5254,28112,169(386)821
Other undisclosed comprehensive income (loss), net of tax, attributable to parent7,236(39,837)(7,312)14,54117,994(11,086)
Comprehensive income (loss), net of tax, attributable to parent:5,857(38,312)(3,031)26,71017,608(10,265)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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