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)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments33,92622,72940,42535,54332,36036,928
Cash and cash equivalents24,24713,54828,86321,87615,91015,612
Short-term investments9,6799,18111,56213,66716,45021,316
Total current assets:33,92622,72940,42535,54332,36036,928
Noncurrent Assets
Operating lease, right-of-use asset3,0163,2133,4053,5953,7813,963
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:6,7986,9957,1877,3777,5637,745
Other undisclosed assets332,231323,871319,452317,429339,351330,358
TOTAL ASSETS:372,955353,595367,064360,349379,274375,031
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Noncurrent Liabilities
Long-term debt and lease obligation3,0003,0002,0091,0001,000 
Long-term debt, excluding current maturities3,0003,0002,0091,0001,000 
Total noncurrent liabilities:3,0003,0002,0091,0001,000 
Other undisclosed liabilities266,469246,216262,862261,438269,173248,608
Total liabilities:269,469249,216264,871262,438270,173248,608
Equity
Equity, attributable to parent103,486104,379102,19397,911109,101126,423
Preferred stock555555555555
Common stock22,40122,40122,40122,40122,40122,401
Treasury stock, value(7,401)(7,395)(7,389)(7,529)(7,436)(7,421)
Additional paid in capital57,42557,42557,42557,44357,44357,443
Deferred compensation equity(33)(59)(132)(52)(79)(117)
Accumulated other comprehensive income (loss)(20,967)(18,410)(22,149)(25,443)(15,103)463
Retained earnings52,00650,36251,98251,03651,82053,599
Total equity:103,486104,379102,19397,911109,101126,423
TOTAL LIABILITIES AND EQUITY:372,955353,595367,064360,349379,274375,031

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

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Revenues49,18846,26945,23146,34344,66951,608
Premiums earned, net46,06046,10044,91446,38047,06547,081
Cost of revenue(29,365)(30,460)(48,349)(30,630)(32,753)(31,169)
Policyholder benefits and claims incurred, net(29,365)(30,460)(28,904)(30,630)(32,753)(31,169)
Deferred policy acquisition costs, amortization expense   (19,445)   
Gross profit:19,82315,809(3,118)15,71311,91620,439
Operating expenses   (86,475)   
Other operating expense, net
(Other Expenses)
(3,951)(3,959)(3,483)(3,296)(3,402)(3,453)
Other undisclosed operating income   64,787   
Operating income (loss):15,87211,850(28,289)12,4178,51416,986
Interest and debt expense(807)(750)(661)(523)(414)(354)
Other undisclosed loss from continuing operations before equity method investments, income taxes   (265)   
Income (loss) from continuing operations before equity method investments, income taxes:15,06511,100(29,215)11,8948,10016,632
Other undisclosed income (loss) from continuing operations before income taxes(12,848)(12,918)30,579(12,843)(10,215)(12,836)
Income (loss) from continuing operations before income taxes:2,217(1,818)1,364(949)(2,115)3,796
Income tax expense (benefit)(473)372(318)265436(954)
Income (loss) from continuing operations:1,744(1,446)1,046(684)(1,679)2,842
Income (loss) before gain (loss) on sale of properties:(684)(1,679)2,842
Net income (loss) attributable to parent:1,744(1,446)1,046(684)(1,679)2,842
Preferred stock dividends and other adjustments(100)(99)(100)(100)(100)(99)
Net income (loss) available to common stockholders, basic:1,644(1,545)946(784)(1,779)2,743
Dilutive securities, effect on basic earnings per share100    99
Net income (loss) available to common stockholders, diluted:1,744(1,545)946(784)(1,779)2,842

Comprehensive Income ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Net income (loss):1,744(1,446)1,046(684)(1,679)2,842
Comprehensive income (loss):1,744(1,446)1,046(684)(1,679)2,842
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(2,557)3,7393,294(10,340)(15,566)(17,225)
Comprehensive income (loss), net of tax, attributable to parent:(813)2,2934,340(11,024)(17,245)(14,383)

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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