GWG Holdings, Inc (GWGH) Financial Statements (2024 and earlier)

Company Profile

Business Address 325 N. ST. PAUL STREET
DALLAS, TX 75201
State of Incorp.
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)

9/30/2021
MRQ
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments 85,24979,073114,587114,42178,48734,425
Cash and cash equivalents 85,24979,073114,587114,42178,48734,425
Restricted cash and investments    28,35037,8272,342
Receivables  67,153184,769   
Deferred costs      2,530
Intangible current assets  3,400    
Total current assets: 85,249149,626299,356142,771116,31439,297
Noncurrent Assets
Operating lease, right-of-use asset 1,126 
Property, plant and equipment   1,500   
Long-term investments and receivables, including: 8,582232,344360,842   
Long-term investments 8,5821,761360,842   
Accounts and financing receivable, after allowance for credit loss  29,168    
Other undisclosed long-term investments and receivables  201,415    
Intangible assets, net (including goodwill) 2,367,7502,358,005    
Goodwill 2,367,7502,358,005    
Total noncurrent assets: 2,377,4582,590,349362,342   
Other undisclosed assets 1,102,250895,231819,169676,085526,929358,868
TOTAL ASSETS: 3,564,9573,635,2061,480,867818,856643,242398,166
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities   9,2776,3942,2271,517
Accounts payable   9,2776,3942,2271,517
Debt 193,730174,390 212,238156,06565,011
Total current liabilities: 193,730174,3909,277218,633158,29266,528
Noncurrent Liabilities
Long-term debt and lease obligation     19,701 
Long-term debt, excluding current maturities     19,701 
Liabilities, other than long-term debt 51,46999,367    
Deferred revenue  41,444
Deferred income tax liabilities 51,46957,923
Total noncurrent liabilities: 51,46999,367  19,701 
Other undisclosed liabilities 1,645,8511,490,9681,190,533466,552397,951315,477
Total liabilities: 1,891,0501,764,7251,199,809685,184575,944382,005
Commitments and contingencies     (19,701)(20,800)
Temporary equity, carrying amount 1,233,0931,269,654  19,70120,800
Equity
Equity, attributable to parent, including: 112,372333,979281,058133,67267,29816,160
Common stock 333333666
Treasury stock, value (67,406)(24,550)    
Additional paid in capital 274,023233,106249,662 7,38417,149
Accumulated deficit (251,111)(76,501)(184,610)(39,450)(18,817)(21,795)
Warrants and rights outstanding      432
Other undisclosed equity, attributable to parent 156,833201,891215,973173,11578,72620,368
Equity, attributable to noncontrolling interest 328,442266,848    
Total equity: 440,814600,827281,058133,67267,29816,160
TOTAL LIABILITIES AND EQUITY: 3,564,9573,635,2061,480,867818,856643,242398,166

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

9/30/2021
TTM
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Revenues 124,37192,276(390)64,13469,47739,632
Realized investment gains      6,162
Other income 29,07316,95613,7141,465929 
Cost of revenue (349,281)(153)(5,753)(1,555)(15,975)(9,238)
Cost of goods and services sold   (1,453)(1,555)  
Provision for loan, lease, and other losses  (153)(4,300)
Financial services costs (15,975)(9,238)
Gross profit: (224,910)92,123(6,143)62,57953,50230,394
Operating expenses  (171,873)(119,079)(86,864)(68,752)(50,535)
Other operating expense, net
(Other Expenses)
 (18,227)     
Operating loss: (243,137)(79,750)(125,222)(24,285)(15,250)(20,141)
Interest and debt expense (154,616)(114,844)(80,136)(54,419)(42,343)(31,588)
Other undisclosed income from continuing operations before equity method investments, income taxes 172,843114,99785,88955,97458,31840,826
Income (loss) from continuing operations before equity method investments, income taxes: (224,910)(79,597)(119,469)(22,730)725(10,903)
Income (loss) from equity method investments (7,319)(4,077)18   
Income (loss) from continuing operations before income taxes: (232,229)(83,674)(119,451)(22,730)725(10,903)
Income tax expense (benefit) 16,390(57,933) 2,097(333)3,510
Income (loss) from continuing operations: (215,839)(141,607)(119,451)(20,632)392(7,393)
Income (loss) before gain (loss) on sale of properties:(215,839)(141,607)(119,451)(20,632)392(7,393)
Net income (loss): (215,839)(141,607)(119,451)(20,632)392(7,393)
Net income attributable to noncontrolling interest 61,924     
Other undisclosed net income (loss) attributable to parent (61,924)249,716    
Net income (loss) attributable to parent: (215,839)108,109(119,451)(20,632)392(7,393)
Preferred stock dividends and other adjustments (14,630)(16,943)(16,663)(12,702)(3,537) 
Other undisclosed net income available to common stockholders, basic 61,924    1,386
Net income (loss) available to common stockholders, basic: (168,545)91,166(136,114)(33,335)(3,145)(6,007)
Other undisclosed net income available to common stockholders, diluted  2,020    
Net income (loss) available to common stockholders, diluted: (168,545)93,186(136,114)(33,335)(3,145)(6,007)

Comprehensive Income ($ in thousands)

9/30/2021
TTM
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Net income (loss): (215,839)(141,607)(119,451)(20,632)392(7,393)
Comprehensive income (loss): (215,839)(141,607)(119,451)(20,632)392(7,393)
Comprehensive income, net of tax, attributable to noncontrolling interest 61,924     
Comprehensive income (loss), net of tax, attributable to parent: (153,915)(141,607)(119,451)(20,632)392(7,393)

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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