Heritage Insurance Holdings, Inc. (HRTG) Financial Statements (2024 and earlier)

Company Profile

Business Address 1401 N WESTSHORE BLVD
TAMPA, FL 33607
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 6331 - Fire, Marine, and Casualty Insurance (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

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

9/30/2023
MRQ
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 investments282,395360,752442,555269,969266,573153,697
Cash and cash equivalents280,881359,337440,956268,351250,117153,697
Short-term investments1,5141,4151,5991,61816,456 
Total current assets:282,395360,752442,555269,969266,573153,697
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization20,13222,718506303
Operating lease, right-of-use asset7,3355,0355,9556,342
Property, plant and equipment25,72917,42618,68520,75317,99818,748
Long-term investments and receivables 1,5141,415    
Long-term investments 1,5141,415    
Intangible assets, net (including goodwill)49,575147,885214,736221,101229,309254,085
Goodwill  91,959152,459152,459152,459152,459
Intangible assets, net (excluding goodwill)49,57555,92662,27768,64276,850101,626
Deferred income tax assets16,841   
Total noncurrent assets:121,126194,479239,882248,499247,307272,833
Other undisclosed assets1,989,0791,425,5311,406,9421,421,2021,254,8331,344,680
TOTAL ASSETS:2,392,6001,980,7622,089,3791,939,6701,768,7131,771,210
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities    6,0002,200900
Employee-related liabilities  6,0002,200900
Debt  10,864 15,36079,666
Total current liabilities:  10,8646,00017,56080,566
Noncurrent Liabilities
Liabilities, other than long-term debt  9,42618,477   
Deferred income tax liabilities  9,42618,477 
Total noncurrent liabilities:  9,42618,477   
Other undisclosed liabilities2,261,5611,628,2851,617,6941,484,8711,325,8201,310,828
Total liabilities:2,261,5611,637,7111,647,0351,490,8711,343,3801,391,394
Equity
Equity, attributable to parent131,039343,051442,344448,799425,333379,816
Common stock333333
Treasury stock, value(130,900)(123,557)(115,365)(105,368)(89,185)(87,185)
Additional paid in capital334,711332,797331,867329,568325,292294,836
Accumulated other comprehensive income (loss)(53,585)(4,573)6,0577,330(6,527)(3,064)
Retained earnings (accumulated deficit)(19,190)138,381219,782217,266195,750175,226
Total equity:131,039343,051442,344448,799425,333379,816
TOTAL LIABILITIES AND EQUITY:2,392,6001,980,7622,089,3791,939,6701,768,7131,771,210

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

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues662,460631,561593,385511,305480,171406,623
Premiums earned, net637,065611,071544,722478,713454,182
Financial services revenue379,564
Cost of revenue(501,162)(427,370)(373,387)(273,288)(237,425)(285,374)
Policyholder benefits and claims incurred, net(501,162)(427,370)(373,387)(273,288)(237,425)
Deferred policy acquisition costs, amortization expense      (83,892)
Financial services costs(201,482)
Gross profit:161,298204,191219,998238,017242,746121,249
Operating expenses(162,355)(126,287)(81,537)(80,544)(88,544)(71,714)
Other undisclosed operating loss(156,304)(145,968)(128,276)(107,906)(84,666) 
Operating income (loss):(157,361)(68,064)10,18549,56769,53649,535
Nonoperating expense
(Other Nonoperating expense)
    (48)(10,527)(42,217)
Interest and debt expense(8,809)(7,970)(7,972)(8,523)(20,015)(13,210)
Income (loss) from continuing operations before income taxes:(166,170)(76,034)2,21340,99638,994(5,892)
Income tax expense (benefit)11,8071,3077,113(12,360)(11,839)4,773
Income (loss) from continuing operations:(154,363)(74,727)9,32628,63627,155(1,119)
Income (loss) before gain (loss) on sale of properties:(74,727)9,32628,63627,155(1,119)
Net income (loss) available to common stockholders, diluted:(154,363)(74,727)9,32628,63627,155(1,119)

Comprehensive Income ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income (loss):(154,363)(74,727)9,32628,63627,155(1,119)
Other comprehensive income (loss)15,0653,095384(4,174)2,232(3,170)
Comprehensive income (loss):(139,298)(71,632)9,71024,46229,387(4,289)
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(64,077)(13,725)(1,657)18,031(5,537)5,124
Comprehensive income (loss), net of tax, attributable to parent:(203,375)(85,357)8,05342,49323,850835

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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