Atlantic American Corporation (AAME) Financial Statements (2024 and earlier)

Company Profile

Business Address 4370 PEACHTREE RD NE
ATLANTA, GA 30319
State of Incorp. GA
Fiscal Year End December 31
Industry (SIC) 6311 - Life 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 investments40,42543,87738,03535,81533,38824,547
Cash and cash equivalents28,86324,75319,31912,89312,63024,547
Short-term investments11,56219,12418,71622,92220,758 
Total current assets:40,42543,87738,03535,81533,38824,547
Noncurrent Assets
Operating lease, right-of-use asset3,4054,1434,8325,476
Long-term investments and receivables1,2381,2381,2381,2381,2381,238
Long-term investments1,2381,2381,2381,2381,2381,238
Intangible assets, net (including goodwill), including:2,5442,5442,5442,5442,5442,544
Other undisclosed intangible assets, net (including goodwill)2,5442,5442,5442,5442,5442,544
Total noncurrent assets:7,1877,9258,6149,2583,7823,782
Other undisclosed assets319,452350,484358,538332,553307,104314,910
TOTAL ASSETS:367,064402,286405,187377,626344,274343,239
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Noncurrent Liabilities
Long-term debt and lease obligation2,009     
Long-term debt, excluding current maturities2,009     
Total noncurrent liabilities:2,009     
Other undisclosed liabilities262,862261,000260,127259,232242,902230,256
Total liabilities:264,871261,000260,127259,232242,902230,256
Equity
Equity, attributable to parent102,193141,286145,060118,394101,372112,983
Preferred stock555555555555
Common stock22,40122,40122,40122,40122,40122,401
Treasury stock, value(7,389)(7,490)(7,339)(7,580)(7,985)(7,133)
Additional paid in capital57,42557,44157,43757,82057,41457,495
Deferred compensation equity(132)(73)(284)(781)(186)(579)
Accumulated other comprehensive income (loss)(22,149)17,68825,00010,459(7,535)9,751
Retained earnings51,98251,26447,79036,02037,20830,993
Total equity:102,193141,286145,060118,394101,372112,983
TOTAL LIABILITIES AND EQUITY:367,064402,286405,187377,626344,274343,239

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
Revenues187,851199,554195,348198,179185,553181,114
Premiums earned, net185,440184,216183,539181,925172,931
Financial services revenue163,327
Cost of revenue(142,901)(155,758)(139,269)(156,513)(150,261)(128,145)
Policyholder benefits and claims incurred, net(123,456)(131,694)(119,876)(139,225)(132,650)
Deferred policy acquisition costs, amortization expense(19,445)(24,064)(19,393)(17,288)(17,611)(10,630)
Financial services costs(117,515)
Gross profit:44,95043,79656,07941,66635,29252,969
Operating expenses(86,475)(86,934)(81,563)(79,783)(77,362)(74,393)
Other operating expense, net
(Other Expenses)
(13,634)(13,675)(11,548)(11,754)(12,795)(13,074)
Other undisclosed operating income64,78755,31848,54642,37950,93430,686
Operating income (loss):9,628(1,495)11,514(7,492)(3,931)(3,812)
Nonoperating expense
(Investment Income, Nonoperating)
 (265)(301)(255)(107)  
Interest and debt expense(1,952)(1,387)(1,610)(2,130)(2,037)(1,723)
Other undisclosed loss from continuing operations before equity method investments, income taxes      
Income (loss) from continuing operations before equity method investments, income taxes:7,411(3,183)9,649(9,729)(5,968)(5,535)
Other undisclosed income (loss) from continuing operations before income taxes(5,315)8,4855,8549,3224,99710,891
Income (loss) from continuing operations before income taxes:2,0965,30215,503(407)(971)5,356
Income tax expense (benefit)(571)(1,021)(3,334)21267(828)
Income (loss) from continuing operations:1,5254,28112,169(386)(704)4,528
Income (loss) before gain (loss) on sale of properties:4,28112,169(386)(704)4,528
Net income (loss) attributable to parent:1,5254,28112,169(386)(704)4,528
Preferred stock dividends and other adjustments(399)(399)(399)(399)(399)(399)
Net income (loss) available to common stockholders, basic:1,1263,88211,770(785)(1,103)4,129
Dilutive securities, effect on basic earnings per share      
Other undisclosed net income available to common stockholders, diluted   399   
Net income (loss) available to common stockholders, diluted:1,1263,88212,169(785)(1,103)4,129

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):1,5254,28112,169(386)(704)4,528
Other comprehensive income     1,525 
Comprehensive income (loss):1,5254,28112,169(386)8214,528
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(39,837)(7,312)14,54117,994(11,086)3,921
Comprehensive income (loss), net of tax, attributable to parent:(38,312)(3,031)26,71017,608(10,265)8,449

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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