Hagerty, Inc. (HGTY) Financial Statements (2024 and earlier)

Company Profile

Business Address 121 DRIVERS EDGE
TRAVERSE CITY, MI 49684
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 6411 - Insurance Agents, Brokers, and Service (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 investments114,25263,36795,172180,417180,165237,590
Cash and cash equivalents114,25263,36795,172180,417180,165237,590
Restricted cash and investments518,109444,024444,019435,916381,284324,605
Receivables107,78596,55983,74892,12057,99947,845
Inventory, net of allowances, customer advances and progress billings4,9735,004    
Inventory4,9735,004    
Other current assets63,92957,775    
Other undisclosed current assets370,710259,686313,844345,106321,169240,425
Total current assets:1,179,758926,415936,7831,053,559940,617850,465
Noncurrent Assets
Operating lease, right-of-use asset77,64080,462    
Property, plant and equipment23,39924,617 28,14228,16027,795
Long-term investments and receivables11,88512,707    
Accounts and financing receivable, after allowance for credit loss11,88512,707    
Intangible assets, net (including goodwill)218,886217,827    
Goodwill115,060115,041    
Intangible assets, net (excluding goodwill)103,826102,786    
Other noncurrent assets40,96239,925375,735263,024166,204144,834
Total noncurrent assets:372,772375,538375,735291,166194,364172,629
TOTAL ASSETS:1,552,5301,301,9531,312,5181,344,7251,134,9811,023,094
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities   16,28274,54156,68243,974
Accounts payable   16,28226,37411,2279,733
Accrued liabilities    48,16745,45534,241
Deferred revenue29,66125,66225,25727,83024,98421,253
Other liabilities    1,4042,7835,394
Other undisclosed current liabilities818,938669,603625,816616,762562,993443,069
Total current liabilities:848,599695,265667,355720,537647,442513,690
Noncurrent Liabilities
Long-term debt and lease obligation80,84189,030108,280136,00087,000117,500
Long-term debt, excluding current maturities80,84189,030108,280136,00087,000117,500
Liabilities, other than long-term debt117,291114,866123,95348,83849,84445,740
Accounts payable and accrued liabilities   7,9529,16710,6768,127
Deferred revenue18,33618,66919,16918,83318,83319,167
Deferred income tax liabilities16,50113,84612,85013,54612,96711,002
Other liabilities5,3703,5063,2107,2927,3687,444
Operating lease, liability77,08478,84580,772   
Other undisclosed noncurrent liabilities47,83046,07645,56149,59161,17455,773
Total noncurrent liabilities:245,962249,972277,794234,429198,018219,013
Total liabilities:1,094,561945,237945,149954,966845,460732,703
Temporary equity, carrying amount79,159     
Equity
Equity, attributable to parent, including:67,41562,10959,25299,10872,10973,972
Additional paid in capital556,595554,049549,034546,393532,922528,615
Accumulated other comprehensive income (loss)83(272)(213)(1,728)(542)92
Accumulated deficit(489,296)(491,701)(489,602)(445,590)(460,304)(454,768)
Other undisclosed equity, attributable to parent333333333333
Equity, attributable to noncontrolling interest311,395294,607308,117290,651217,412216,419
Total equity:378,810356,716367,369389,759289,521290,391
TOTAL LIABILITIES AND EQUITY:1,552,5301,301,9531,312,5181,344,7251,134,9811,023,094

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
Revenues261,244218,352197,003216,757206,017167,811
Premiums earned, net127,482117,231112,342107,48794,10089,132
Other undisclosed gross profit   (191,150)   
Gross profit:261,244218,3525,853216,757206,017167,811
Operating expenses(63,259)(62,029)(74,144)(67,950)(58,184)(47,895)
Other undisclosed operating income (loss)(180,732)(172,812)32,565(170,030)(145,446)(132,920)
Operating income (loss):17,253(16,489)(35,726)(21,223)2,387(13,004)
Nonoperating income (expense)3,7705,6472,40335,397(353)(684)
Investment income, nonoperating    34,735  
Other nonoperating income (expense)3,7705,6472,403662(353)(684)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes(1,754)(515)4,03011,583(5,400)31,686
Income (loss) from continuing operations before equity method investments, income taxes:19,269(11,357)(29,293)25,757(3,366)17,998
Loss from equity method investments    (1,535)(39)(102)
Other undisclosed income from continuing operations before income taxes   1,676   
Income (loss) from continuing operations before income taxes:19,269(11,357)(27,617)24,222(3,405)17,896
Income tax expense (benefit)(3,730)(3,668)(2,940)91(2,138)(2,030)
Income (loss) from continuing operations:15,539(15,025)(30,557)24,313(5,543)15,866
Income (loss) before gain (loss) on sale of properties:24,313(5,543)15,866
Other undisclosed net loss   (1,676)   
Net income (loss):15,539(15,025)(32,233)24,313(5,543)15,866
Net income (loss) attributable to noncontrolling interest(13,134)12,92627,626(9,599)711,641
Net income (loss) attributable to parent:2,405(2,099)(4,607)14,714(5,536)27,507
Other undisclosed net income (loss) available to common stockholders, basic   (29,861)9,817 (32,072)
Net income (loss) available to common stockholders, diluted:2,405(2,099)(34,468)24,531(5,536)(4,565)

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):15,539(15,025)(32,233)24,313(5,543)15,866
Other comprehensive income (loss)1,440(241)866(1,186)(634)1,819
Comprehensive income (loss):16,979(15,266)(31,367)23,127(6,177)17,685
Comprehensive income (loss), net of tax, attributable to noncontrolling interest(14,220)13,10827,626(9,599)711,641
Other undisclosed comprehensive loss, net of tax, attributable to parent      
Comprehensive income (loss), net of tax, attributable to parent:2,759(2,158)(3,741)13,528(6,170)29,326

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.

Login to ReadyRatios

 

Have you forgotten your password?

Are you a new user?

Login As
You can log in if you are registered at one of these services: