AMERISAFE, Inc. (AMSF) Financial Statements (2024 and earlier)

Company Profile

Business Address 2301 HIGHWAY 190 WEST
DERIDDER, LA 70634
State of Incorp. TX
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)

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 investments123,527134,862105,19471,71654,57581,329
Cash and cash equivalents61,46970,72261,75743,81340,34455,559
Short-term investments62,05864,14043,43727,90314,23125,770
Debt securities, held-to-maturity, excluding accrued interest, after allowance for credit loss491,688 
Total current assets:615,215134,862105,19471,71654,57581,329
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization 362241365185
Operating lease, right-of-use asset 106193314430
Property, plant and equipment7,2256,4596,1826,3316,2586,128
Deferred income tax assets22,79414,38413,665 
Total noncurrent assets:30,48721,27720,5266,9466,2586,128
Other undisclosed assets623,5771,246,5851,345,1351,414,2441,455,0981,430,779
TOTAL ASSETS:1,269,2791,402,7241,470,8551,492,9061,515,9311,518,236
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Noncurrent Liabilities
Other undisclosed liabilities951,8471,003,4011,032,0391,062,6911,106,1691,092,813
Total liabilities:951,8471,003,4011,032,0391,062,6911,106,1691,092,813
Equity
Equity, attributable to parent317,432399,323438,816430,215409,762425,423
Common stock207206206205205204
Treasury stock, value(34,758)(22,370)(22,370)(22,370)(22,370)(22,370)
Additional paid in capital220,299217,458215,316213,004211,431210,081
Accumulated other comprehensive income (loss)(13,828)13,53721,01912,211(832)3,612
Retained earnings145,512190,492224,645227,165221,328233,896
Total equity:317,432399,323438,816430,215409,762425,423
TOTAL LIABILITIES AND EQUITY:1,269,2791,402,7241,470,8551,492,9061,515,9311,518,236

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
Revenues294,737315,934339,477370,370377,753375,208
Premiums earned, net271,698275,993304,427332,888350,326
Financial services revenue346,156
Cost of revenue(194,867)(202,994)(202,262)(225,060)(254,808)(214,192)
Policyholder benefits and claims incurred, net(152,316)(160,798)(157,226)(176,342)(204,891)
Deferred policy acquisition costs, amortization expense (39,852)(38,481)(41,583)(44,558)(45,769) 
Financial services costs(209,324)
Gross profit:99,870112,940137,215145,310122,945161,016
Operating expenses(21,917)(21,727)(23,619)(25,675)(26,860)(50,443)
Operating income:77,95391,213113,596119,63596,085110,573
Interest and debt expense (9)(6)(2)(4)  
Other undisclosed loss from continuing operations before equity method investments, income taxes      
Income from continuing operations before equity method investments, income taxes:77,94491,207113,594119,63196,085110,573
Other undisclosed loss from continuing operations before income taxes(10,298)(11,758)(6,675)(4,114)(8,504)(28,333)
Income from continuing operations before income taxes:67,64679,449106,919115,51787,58182,240
Income tax expense(12,044)(13,693)(20,317)(22,827)(15,949)(36,009)
Income from continuing operations:55,60265,75686,60292,69071,63246,231
Income before gain (loss) on sale of properties:65,75686,60292,69071,63246,231
Net income available to common stockholders, diluted:55,60265,75686,60292,69071,63246,231

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:55,60265,75686,60292,69071,63246,231
Comprehensive income:55,60265,75686,60292,69071,63246,231
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(27,365)(7,482)8,80813,043(4,243)4,104
Comprehensive income, net of tax, attributable to parent:28,23758,27495,410105,73367,38950,335

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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