Tower Group International LTD (TWGP) financial statements (2021 and earlier)

Company profile

Business Address CROWN HOUSE
HAMILTON, HM 08
State of Incorp.
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)

6/30/2014
Q2
3/31/2014
Q1
12/31/2013
Q4
9/30/2013
Q3
6/30/2013
Q2
3/31/2013
Q1
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments265455294380109230
Cash and cash equivalents265455294380109230
Total current assets:265455294380109230
Noncurrent Assets
Property, plant and equipment  13921  
Long-term investments and receivables   777668
Long-term investments   777668
Intangible assets, net (including goodwill)79808080155374
Goodwill    56270
Intangible assets, net (excluding goodwill)79808080100105
Total noncurrent assets:7980219178231443
Other undisclosed assets3,1073,1843,4424,0755,3285,716
TOTAL ASSETS:3,4523,7193,9564,6335,6686,389
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Noncurrent Liabilities
Long-term debt and lease obligation1010101010 
Long-term debt, excluding current maturities1010101010 
Total noncurrent liabilities:1010101010 
Other undisclosed liabilities3,4623,6753,8454,4005,0675,170
Total liabilities:3,4723,6853,8554,4105,0775,170
Stockholders' equity
Stockholders' equity attributable to parent(11)36962085791,197
Common stock111111
Treasury stock, value(0)(0)(0)(0)(0) 
Additional paid in capital815815815815813812
Accumulated other comprehensive income (loss)(31)(32)(20)(8)978
Retained earnings (accumulated deficit)(796)(747)(701)(600)(243)306
Stockholders' equity attributable to noncontrolling interest(10)(2)5151222
Total stockholders' equity:(21)341012235911,219
TOTAL LIABILITIES AND EQUITY:3,4523,7193,9564,6335,6686,389

Income statement (P&L) ($ in millions)

6/30/2014
Q2
3/31/2014
Q1
12/31/2013
Q4
9/30/2013
Q3
6/30/2013
Q2
3/31/2013
Q1
Revenues139163362443461475
Financial services revenue95112304368418420
Cost of revenue
(Financial Services Costs)
(95)(103)(300)(384)(560)(275)
Gross profit:44616259(99)201
Operating expenses(53)(84)(67)(294)(303)(113)
Operating income (loss):(9)(23)(6)(235)(402)88
Nonoperating income253931533139
Investment income, nonoperating253931483138
Interest and debt expense(7)(7)(10)(8)(8)(8)
Income (loss) from continuing operations before equity method investments, income taxes:8815(190)(379)119
Income (loss) from equity method investments  2(3)81
Income (loss) from continuing operations before income taxes:8817(193)(371)120
Income tax expense (benefit)(1)(1)(11)(1)22
Income (loss) before gain (loss) on sale of properties:777(194)(369)122
Other undisclosed net loss(61)(59)(119)(150)(137)(118)
Net income (loss):(54)(52)(112)(344)(507)4
Net income (loss) attributable to noncontrolling interest5512(4)(1)11
Net income (loss) attributable to parent:(49)(46)(101)(348)(507)15
Other undisclosed net loss available to common stockholders, basic   (0)(0) 
Net income (loss) available to common stockholders, diluted:(49)(46)(101)(348)(507)15

Comprehensive Income ($ in millions)

6/30/2014
Q2
3/31/2014
Q1
12/31/2013
Q4
9/30/2013
Q3
6/30/2013
Q2
3/31/2013
Q1
Net income (loss):(54)(52)(112)(344)(507)4
Other comprehensive income (loss)4(11)(12)(17)(80)(7)
Comprehensive loss:(50)(63)(124)(361)(586)(3)
Comprehensive income (loss), net of tax, attributable to noncontrolling interest(3)(4)(12)3(10)(13)
Other undisclosed comprehensive income (loss), net of tax, attributable to parent6824(6)1926
Comprehensive income (loss), net of tax, attributable to parent:(47)(59)(112)(364)(577)10

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.

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