Kingsway Financial Services, Inc. (KFS) financial statements (2021 and earlier)
Company profile
| Business Address |
45 ST. CLAIR WEST TORONTO, ON M4V 1K9 |
| State of Incorp. | ON |
| Fiscal Year End | December 31 |
| SIC | 6331 - Fire, Marine, and Casualty Insurance (benchmarking) |
| More info | Complete financial analysis Financial benchmarking |
Balance sheet (Statement of financial position) ($ in millions)
| 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | 12/31/2014 | 12/31/2013 | 12/31/2012 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 15 | 44 | 37 | 52 | 74 | 99 | 81 | ||
| Cash and cash equivalents | 15 | 44 | 36 | 52 | 74 | 99 | 81 | ||
| Short-term investments | 0 | 0 | 0 | 0 | 0 | 1 | 1 | ||
| Total current assets: | 15 | 44 | 37 | 52 | 74 | 99 | 81 | ||
| Noncurrent Assets | |||||||||
| Property, plant and equipment | 103 | 108 | 117 | 6 | 6 | 2 | 3 | ||
| Long-term investments and receivables | 1 | 10 | 10 | 20 | 2 | 42 | |||
| Long-term investments | 1 | 10 | 11 | 20 | 2 | 42 | |||
| Accounts and financing receivable, after allowance for credit loss | (0) | (0) | (0) | (0) | |||||
| Intangible assets, net (including goodwill) | 158 | 168 | 160 | 25 | 58 | 60 | 59 | ||
| Goodwill | 75 | 80 | 71 | 10 | 11 | 11 | 8 | ||
| Intangible assets, net (excluding goodwill) | 83 | 88 | 89 | 15 | 47 | 49 | 51 | ||
| Total noncurrent assets: | 262 | 286 | 287 | 50 | 66 | 61 | 103 | ||
| Other undisclosed assets | 102 | 154 | 177 | 139 | 161 | 164 | 188 | ||
| TOTAL ASSETS: | 378 | 485 | 501 | 241 | 302 | 325 | 373 | ||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 3 | ||||||||
| Interest and dividends payable | 3 | ||||||||
| Total current liabilities: | 3 | ||||||||
| Noncurrent Liabilities | |||||||||
| Other undisclosed liabilities | 346 | 435 | 438 | 191 | 254 | 288 | 307 | ||
| Total liabilities: | 348 | 435 | 438 | 191 | 254 | 288 | 307 | ||
| Temporary equity, carrying amount | 6 | 5 | 6 | 6 | 6 | ||||
| Stockholders' equity | |||||||||
| Stockholders' equity attributable to parent, including: | 12 | 39 | 56 | 42 | 37 | 35 | 65 | ||
| Additional paid in capital | 354 | 356 | 354 | 342 | 341 | 325 | 16 | ||
| Accumulated other comprehensive income (loss) | 41 | (4) | (0) | 9 | 9 | 10 | 15 | ||
| Accumulated deficit | (382) | (313) | (298) | (309) | (312) | (299) | (262) | ||
| Other undisclosed stockholders' equity attributable to parent | 297 | ||||||||
| Stockholders' equity attributable to noncontrolling interest | 12 | 5 | 1 | 2 | 4 | 1 | 0 | ||
| Total stockholders' equity: | 24 | 44 | 57 | 44 | 42 | 37 | 65 | ||
| TOTAL LIABILITIES AND EQUITY: | 378 | 485 | 501 | 241 | 302 | 325 | 373 | ||
Income statement (P&L) ($ in millions)
| 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | 12/31/2014 | 12/31/2013 | 12/31/2012 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 52 | 193 | 177 | 160 | 188 | 172 | 150 | |
| Operating leases, income statement, lease revenue | 13 | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | |
| Insurance commissions and fees | 38 | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | |
| Financial services revenue | ✕ | 162 | 152 | 140 | ||||
| Cost of revenue | (3) | (28) | (28) | (27) | (4) | (2) | ||
| Cost of goods and services sold | (4) | (2) | ||||||
| Deferred policy acquisition costs, amortization expense | (3) | (28) | (28) | (26) | 23 | 31 | ||
| Gross profit: | 49 | 165 | 149 | 133 | 184 | 170 | 150 | |
| Operating expenses | (54) | (211) | (183) | (161) | (187) | (207) | (200) | |
| Other operating expense, net | (20) | (11) | (4) | (10) | ||||
| Other undisclosed operating income | 32 | 44 | 31 | 36 | 9 | 21 | ||
| Operating income (loss): | 7 | (14) | (7) | (2) | 6 | (15) | (50) | |
| Nonoperating income (expense) | (2) | (3) | 7 | (8) | 0 | (10) | ||
| Investment income, nonoperating | 6 | 6 | 14 | (3) | 0 | 1 | ||
| Profit from real estate operations | 1 | |||||||
| Other nonoperating income (expense) | (9) | (9) | (8) | (4) | 0 | (11) | ||
| Interest and debt expense | (7) | (5) | (4) | (5) | (6) | (7) | (7) | |
| Other undisclosed income (loss) from continuing operations before equity method investments, income taxes | 0 | (2) | 7 | |||||
| Income (loss) from continuing operations before equity method investments, income taxes: | (3) | (22) | (5) | (15) | 1 | (35) | (50) | |
| Income (loss) from equity method investments | (2) | 2 | (1) | (0) | (0) | 0 | (1) | |
| Other undisclosed income (loss) from continuing operations before income taxes | (17) | (10) | (5) | 4 | (12) | (9) | 1 | |
| Loss from continuing operations before income taxes: | (22) | (29) | (10) | (11) | (11) | (43) | (50) | |
| Income tax expense (benefit) | (0) | 18 | 10 | (0) | 0 | 0 | (3) | |
| Loss before gain (loss) on sale of properties: | (22) | (12) | (1) | (11) | (11) | (43) | (53) | |
| Other undisclosed net income (loss) | (6) | 1 | 1 | 13 | 7 | |||
| Net income (loss): | (28) | (11) | 1 | 1 | (11) | (36) | (53) | |
| Net income (loss) attributable to noncontrolling interest | (2) | (4) | 0 | (0) | (2) | (1) | 1 | |
| Other undisclosed net loss attributable to parent | (1) | |||||||
| Net income (loss) attributable to parent: | (31) | (15) | 1 | 1 | (13) | (37) | (52) | |
| Preferred stock dividends and other adjustments | (0) | |||||||
| Other undisclosed net income (loss) available to common stockholders, basic | 6 | (0) | (0) | (0) | ||||
| Net income (loss) available to common stockholders, diluted: | (25) | (16) | 0 | 1 | (13) | (37) | (52) | |
Comprehensive Income ($ in millions)
| 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | 12/31/2014 | 12/31/2013 | 12/31/2012 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | (28) | (11) | 1 | 1 | (11) | (36) | (53) | |
| Other comprehensive income (loss) | 4 | (4) | 2 | 0 | (1) | (5) | 2 | |
| Comprehensive income (loss): | (24) | (15) | 3 | 1 | (12) | (41) | (51) | |
| Comprehensive income (loss), net of tax, attributable to noncontrolling interest | (2) | (4) | 0 | 0 | 1 | 1 | (1) | |
| Other undisclosed comprehensive income (loss), net of tax, attributable to parent | (3) | (1) | 2 | |||||
| Comprehensive income (loss), net of tax, attributable to parent: | (26) | (19) | 3 | 2 | (14) | (42) | (50) | |
Statements sources
The financial statements are based on the company's filings with the 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.