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)
| 6/30/2024 MRQ | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 465,306 | 282,395 | 360,752 | 442,555 | 269,969 | 266,573 | |||
| Cash and cash equivalents | 463,640 | 280,881 | 359,337 | 440,956 | 268,351 | 250,117 | |||
| Short-term investments | 1,666 | 1,514 | 1,415 | 1,599 | 1,618 | 16,456 | |||
| Total current assets: | 465,306 | 282,395 | 360,752 | 442,555 | 269,969 | 266,573 | |||
| Noncurrent Assets | |||||||||
| Finance lease, right-of-use asset, after accumulated amortization | 17,606 | 20,132 | 22,718 | 506 | 303 | ✕ | |||
| Operating lease, right-of-use asset | 6,835 | 7,335 | 5,035 | 5,955 | 6,342 | ✕ | |||
| Property, plant and equipment | 33,218 | 25,729 | 17,426 | 18,685 | 20,753 | 17,998 | |||
| Long-term investments and receivables | 1,666 | 1,514 | 1,415 | ||||||
| Long-term investments | 1,666 | 1,514 | 1,415 | ||||||
| Intangible assets, net (including goodwill) | 42,555 | 49,575 | 147,885 | 214,736 | 221,101 | 229,309 | |||
| Goodwill | 91,959 | 152,459 | 152,459 | 152,459 | |||||
| Intangible assets, net (excluding goodwill) | 42,555 | 49,575 | 55,926 | 62,277 | 68,642 | 76,850 | |||
| Deferred income tax assets | 11,111 | 16,841 | ✕ | ||||||
| Total noncurrent assets: | 112,991 | 121,126 | 194,479 | 239,882 | 248,499 | 247,307 | |||
| Other undisclosed assets | 1,574,903 | 1,989,079 | 1,425,531 | 1,406,942 | 1,421,202 | 1,254,833 | |||
| TOTAL ASSETS: | 2,153,200 | 2,392,600 | 1,980,762 | 2,089,379 | 1,939,670 | 1,768,713 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 5,400 | 6,000 | 2,200 | ||||||
| Employee-related liabilities | ✕ | ✕ | ✕ | 6,000 | 2,200 | ||||
| Accrued liabilities | 5,400 | ||||||||
| Debt | 10,864 | 15,360 | |||||||
| Total current liabilities: | 5,400 | 10,864 | 6,000 | 17,560 | |||||
| Noncurrent Liabilities | |||||||||
| Liabilities, other than long-term debt | 9,426 | 18,477 | |||||||
| Deferred income tax liabilities | 9,426 | 18,477 | ✕ | ||||||
| Total noncurrent liabilities: | 9,426 | 18,477 | |||||||
| Other undisclosed liabilities | 1,927,520 | 2,261,561 | 1,628,285 | 1,617,694 | 1,484,871 | 1,325,820 | |||
| Total liabilities: | 1,932,920 | 2,261,561 | 1,637,711 | 1,647,035 | 1,490,871 | 1,343,380 | |||
| Equity | |||||||||
| Equity, attributable to parent | 220,280 | 131,039 | 343,051 | 442,344 | 448,799 | 425,333 | |||
| Common stock | 3 | 3 | 3 | 3 | 3 | 3 | |||
| Treasury stock, value | (130,900) | (130,900) | (123,557) | (115,365) | (105,368) | (89,185) | |||
| Additional paid in capital | 360,310 | 334,711 | 332,797 | 331,867 | 329,568 | 325,292 | |||
| Accumulated other comprehensive income (loss) | (35,250) | (53,585) | (4,573) | 6,057 | 7,330 | (6,527) | |||
| Retained earnings (accumulated deficit) | 26,117 | (19,190) | 138,381 | 219,782 | 217,266 | 195,750 | |||
| Total equity: | 220,280 | 131,039 | 343,051 | 442,344 | 448,799 | 425,333 | |||
| TOTAL LIABILITIES AND EQUITY: | 2,153,200 | 2,392,600 | 1,980,762 | 2,089,379 | 1,939,670 | 1,768,713 | |||
Income Statement (P&L) ($ in thousands)
| 6/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 735,498 | 662,460 | 631,561 | 593,385 | 511,305 | 480,171 | ||
| Premiums earned, net | 697,185 | 637,065 | 611,071 | 544,722 | 478,713 | 454,182 | ||
| Cost of revenue (Policyholder Benefits and Claims Incurred, Net) | (426,129) | (501,162) | (427,370) | (373,387) | (273,288) | (237,425) | ||
| Gross profit: | 309,369 | 161,298 | 204,191 | 219,998 | 238,017 | 242,746 | ||
| Operating expenses | (78,544) | (162,355) | (126,287) | (81,537) | (80,544) | (88,544) | ||
| Other undisclosed operating loss | (167,610) | (156,304) | (145,968) | (128,276) | (107,906) | (84,666) | ||
| Operating income (loss): | 63,215 | (157,361) | (68,064) | 10,185 | 49,567 | 69,536 | ||
| Nonoperating expense (Other Nonoperating expense) | (48) | (10,527) | ||||||
| Interest and debt expense | (11,210) | (8,809) | (7,970) | (7,972) | (8,523) | (20,015) | ||
| Income (loss) from continuing operations before income taxes: | 52,005 | (166,170) | (76,034) | 2,213 | 40,996 | 38,994 | ||
| Income tax expense (benefit) | (6,698) | 11,807 | 1,307 | 7,113 | (12,360) | (11,839) | ||
| Income (loss) from continuing operations: | 45,307 | (154,363) | (74,727) | 9,326 | 28,636 | 27,155 | ||
| Income (loss) before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | (74,727) | 9,326 | 28,636 | 27,155 | |
| Net income (loss) available to common stockholders, diluted: | 45,307 | (154,363) | (74,727) | 9,326 | 28,636 | 27,155 | ||
Comprehensive Income ($ in thousands)
| 6/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | 45,307 | (154,363) | (74,727) | 9,326 | 28,636 | 27,155 | ||
| Other comprehensive income (loss) | (5,690) | 15,065 | 3,095 | 384 | (4,174) | 2,232 | ||
| Comprehensive income (loss): | 39,617 | (139,298) | (71,632) | 9,710 | 24,462 | 29,387 | ||
| Other undisclosed comprehensive income (loss), net of tax, attributable to parent | 24,024 | (64,077) | (13,725) | (1,657) | 18,031 | (5,537) | ||
| Comprehensive income (loss), net of tax, attributable to parent: | 63,641 | (203,375) | (85,357) | 8,053 | 42,493 | 23,850 | ||
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.