NI Holdings Inc. (NODK) Financial Statements (2024 and earlier)
Company Profile
| Business Address |
1101 FIRST AVENUE NORTH FARGO, ND 58102 |
| State of Incorp. | |
| 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 | 57,193 | 47,502 | 71,123 | 101,577 | 62,632 | 69,450 | |||
| Cash and cash equivalents | 56,693 | 47,002 | 70,623 | 101,077 | 62,132 | 68,950 | |||
| Short-term investments | 500 | 500 | 500 | 500 | 500 | 500 | |||
| Receivables | 6,646 | ||||||||
| Total current assets: | 57,193 | 47,502 | 71,123 | 108,223 | 62,632 | 69,450 | |||
| Noncurrent Assets | |||||||||
| Property, plant and equipment | 9,897 | 9,843 | 9,869 | 9,899 | 7,694 | 6,979 | |||
| Long-term investments and receivables, including: | 15,462 | ||||||||
| Other undisclosed long-term investments and receivables | 15,462 | ||||||||
| Intangible assets, net (including goodwill) | 10,039 | 17,250 | 17,722 | 18,194 | 2,912 | 4,623 | |||
| Goodwill | 2,628 | 9,384 | 9,384 | 9,384 | 2,912 | 4,623 | |||
| Intangible assets, net (excluding goodwill) | 7,411 | 7,866 | 8,338 | 8,810 | |||||
| Other undisclosed intangible assets, net (including goodwill) | |||||||||
| Deferred income tax assets | 8,413 | ✕ | |||||||
| Total noncurrent assets: | 28,349 | 42,555 | 27,591 | 28,093 | 10,606 | 11,602 | |||
| Other undisclosed assets | 569,344 | 524,175 | 553,068 | 481,287 | 434,921 | 377,440 | |||
| TOTAL ASSETS: | 654,886 | 614,232 | 651,782 | 617,603 | 508,159 | 458,492 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 754 | 1,645 | 197 | ||||||
| Taxes payable | ✕ | ✕ | ✕ | 754 | 1,645 | 197 | |||
| Deferred rent credit | 200 | 200 | |||||||
| Total current liabilities: | 200 | 200 | 754 | 1,645 | 197 | ||||
| Noncurrent Liabilities | |||||||||
| Liabilities, other than long-term debt | 5,506 | 8,757 | 3,996 | 711 | |||||
| Deferred tax liabilities, net | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 711 | ||
| Deferred income tax liabilities | 5,506 | 8,757 | 3,996 | ✕ | |||||
| Total noncurrent liabilities: | 5,506 | 8,757 | 3,996 | 711 | |||||
| Other undisclosed liabilities | 404,287 | 360,825 | 298,863 | 259,220 | 192,715 | 181,831 | |||
| Total liabilities: | 404,487 | 361,025 | 304,369 | 268,731 | 198,356 | 182,739 | |||
| Equity | |||||||||
| Equity, attributable to parent, including: | 248,339 | 251,918 | 344,388 | 344,327 | 309,803 | 275,753 | |||
| Common stock | 230 | 230 | 230 | 230 | 230 | 230 | |||
| Treasury stock, value | (35,177) | (28,818) | (26,452) | (23,968) | (12,308) | (10,634) | |||
| Additional paid in capital | 96,294 | 95,671 | 98,166 | 97,911 | 95,961 | 94,486 | |||
| Accumulated other comprehensive income (loss) | (21,384) | (29,286) | 5,237 | 12,840 | 5,612 | 6,376 | |||
| Retained earnings | 208,376 | 214,121 | 267,207 | 258,741 | 218,480 | 183,946 | |||
| Unearned esop shares | (1,427) | (1,671) | (1,914) | ||||||
| Other undisclosed equity, attributable to parent | 3,499 | 3,263 | |||||||
| Equity, attributable to noncontrolling interest | 2,758 | 2,230 | 4,209 | 4,545 | |||||
| Other undisclosed equity | (698) | (941) | (1,184) | ||||||
| Total equity: | 250,399 | 253,207 | 347,413 | 348,872 | 309,803 | 275,753 | |||
| TOTAL LIABILITIES AND EQUITY: | 654,886 | 614,232 | 651,782 | 617,603 | 508,159 | 458,492 | |||
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 | 365,695 | 324,437 | 323,974 | 306,357 | 270,779 | 212,370 | ||
| Premiums earned, net | 351,137 | 328,290 | 299,589 | 283,661 | 246,438 | 195,720 | ||
| Cost of revenue | (327,828) | (361,660) | (280,953) | (219,945) | (215,898) | (150,944) | ||
| Policyholder benefits and claims incurred, net | (244,412) | (294,432) | (216,379) | (168,473) | (169,710) | (119,088) | ||
| Deferred policy acquisition costs, amortization expense | (82,991) | (66,803) | (64,574) | (51,472) | (46,188) | (31,856) | ||
| Other undisclosed gross profit | 68,858 | 71,081 | 40,189 | 28,776 | 21,847 | 15,206 | ||
| Gross profit: | 106,725 | 33,858 | 83,210 | 115,188 | 76,728 | 76,632 | ||
| Operating expenses | (369,958) | (393,466) | (312,668) | (253,541) | (236,968) | (173,798) | ||
| Operating loss: | (263,233) | (359,608) | (229,458) | (138,353) | (160,240) | (97,166) | ||
| Nonoperating income (Investment Income, Nonoperating) | 12,580 | 9,744 | 7,131 | 15,042 | 7,433 | 6,180 | ||
| Interest and debt expense | (4) | |||||||
| Other undisclosed income (loss) from continuing operations before equity method investments, income taxes | 153,431 | 162,277 | 112,908 | |||||
| Income (loss) from continuing operations before equity method investments, income taxes: | (250,657) | (349,864) | (222,327) | 30,120 | 9,470 | 21,922 | ||
| Other undisclosed income from continuing operations before income taxes | 246,394 | 280,835 | 233,633 | 22,696 | 24,341 | 16,650 | ||
| Income (loss) from continuing operations before income taxes: | (4,263) | (69,029) | 11,306 | 52,816 | 33,811 | 38,572 | ||
| Income tax expense (benefit) | (963) | 15,254 | (2,974) | (11,472) | (7,311) | (7,328) | ||
| Other undisclosed loss from continuing operations | ||||||||
| Income (loss) from continuing operations: | (5,226) | (53,775) | 8,332 | 41,344 | 26,500 | 31,244 | ||
| Income before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | 8,332 | 41,344 | 26,500 | 31,244 | |
| Loss from discontinued operations | ||||||||
| Net income (loss): | (5,226) | (53,775) | 8,332 | 41,344 | 26,500 | 31,244 | ||
| Net income (loss) attributable to noncontrolling interest | (250) | 679 | 84 | (955) | (99) | (163) | ||
| Other undisclosed net income attributable to parent | ||||||||
| Net income (loss) available to common stockholders, diluted: | (5,476) | (53,096) | 8,416 | 40,389 | 26,401 | 31,081 | ||
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): | (5,226) | (53,775) | 8,332 | 41,344 | 26,500 | 31,244 | ||
| Other comprehensive income (loss) | 8,180 | (35,823) | (7,855) | 7,319 | 7,557 | (9,700) | ||
| Comprehensive income (loss): | 2,954 | (89,598) | 477 | 48,663 | 34,057 | 21,544 | ||
| Comprehensive income (loss), net of tax, attributable to noncontrolling interest | (250) | 679 | 84 | (955) | (99) | (163) | ||
| Other undisclosed comprehensive income (loss), net of tax, attributable to parent | 250 | (679) | (84) | 955 | 99 | 163 | ||
| Comprehensive income (loss), net of tax, attributable to parent: | 2,954 | (89,598) | 477 | 48,663 | 34,057 | 21,544 | ||
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.