Citizens Inc. (CIA) Financial Statements (2024 and earlier)

Company Profile

Business Address 11815 ALTERRA PKWY
AUSTIN, TX 78758
State of Incorp. CO
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)

12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments24,21442,13856,23363,53968,42546,064
Cash and cash equivalents22,97327,29434,13146,20545,49246,064
Short-term investments1,24114,84422,10217,33422,933 
Receivables601762    
Total current assets:24,81542,90056,23363,53968,42546,064
Noncurrent Assets
Operating lease, right-of-use asset   11,900 
Property, plant and equipment12,92614,07416,3125,9045,9436,624
Long-term investments and receivables1,249,1771,528,0161,516,6771,378,3441,231,0611,208,606
Long-term investments1,249,1771,528,0161,516,6771,378,3441,231,0611,208,606
Intangible assets, net (including goodwill)    12,62413,58013,585
Goodwill    12,62412,62412,624
Intangible assets, net (excluding goodwill)     956961
Deferred income tax assets 2,414   
Total noncurrent assets:1,264,5171,542,0901,544,8891,396,8721,250,5841,228,815
Other undisclosed assets280,638269,521242,298284,525296,552369,574
TOTAL ASSETS:1,569,9701,854,5111,843,4201,744,9361,615,5611,644,453
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities   43,91644,62241,28193,365
Taxes payable 43,91644,62241,28193,365
Total current liabilities:   43,91644,62241,28193,365
Noncurrent Liabilities
Liabilities, other than long-term debt 15,4569,564   
Deferred income tax liabilities 15,4569,564 
Total noncurrent liabilities: 15,4569,564   
Other undisclosed liabilities1,568,9271,518,4841,488,9951,440,4781,386,5471,327,575
Total liabilities:1,568,9271,533,9401,542,4751,485,1001,427,8281,420,940
Equity
Equity, attributable to parent, including:1,043320,571300,945259,836187,733223,513
Treasury stock, value(22,806)(20,101)(11,011)(11,011)(11,011)(11,011)
Accumulated other comprehensive income (loss)(195,279)117,492128,25577,1175,36626,332
Retained earnings (accumulated deficit)(52,203)(45,565)(82,352)(70,969)(69,599)(54,375)
Other undisclosed equity, attributable to parent271,331268,745266,053264,699262,977262,567
Total equity:1,043320,571300,945259,836187,733223,513
TOTAL LIABILITIES AND EQUITY:1,569,9701,854,5111,843,4201,744,9361,615,5611,644,453

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

12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues232,524250,546238,856250,545244,006252,627
Premiums earned, net173,714174,728175,329184,347187,860
Net investment income65,42661,49560,19759,53154,20553,146
Financial services revenue197,720
Cost of revenue(183,091)(188,517)(185,910)(184,393)(182,105)(197,021)
Policyholder benefits and claims incurred, net(155,588)(162,359)(156,655)(154,579)(145,412)
Deferred policy acquisition costs, amortization expense(26,529)(24,952)(27,439)(28,268)(34,235)(29,690)
Financial services costs(165,202)
Gross profit:49,43362,02952,94666,15261,90155,606
Operating expenses(81,399)(91,457)(85,738)(82,662)(82,594)(87,712)
Operating income (loss):(31,966)(29,428)(32,792)(16,510)(20,693)(32,106)
Other undisclosed income from continuing operations before equity method investments, income taxes   20,47522,25522,69529,120
Income (loss) from continuing operations before equity method investments, income taxes:(31,966)(29,428)(12,317)5,7452,002(2,986)
Other undisclosed income from continuing operations before income taxes24,89922,740    
Income (loss) from continuing operations before income taxes:(7,067)(6,688)(12,317)5,7452,002(2,986)
Income tax expense (benefit)42943,4751,329(7,115)(13,064)(35,141)
Income (loss) from continuing operations:(6,638)36,787(10,988)(1,370)(11,062)(38,127)
Income (loss) before gain (loss) on sale of properties:36,787(10,988)(1,370)(11,062)(38,127)
Net income (loss) available to common stockholders, diluted:(6,638)36,787(10,988)(1,370)(11,062)(38,127)

Comprehensive Income ($ in thousands)

12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income (loss):(6,638)36,787(10,988)(1,370)(11,062)(38,127)
Other comprehensive income (loss)(352,535)41148,75376,898(37,745)12,540
Comprehensive income (loss):(359,173)37,19837,76575,528(48,807)(25,587)
Other undisclosed comprehensive income (loss), net of tax, attributable to parent39,764(11,174)2,385(5,147)12,617 
Comprehensive income (loss), net of tax, attributable to parent:(319,409)26,02440,15070,381(36,190)(25,587)

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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