GWG Holdings, Inc (GWGH) financial statements (2020 and earlier)

Company profile

Business Address 220 SOUTH SIXTH STREET
MINNEAPOLIS, MN 55402
State of Incorp. DE
Fiscal Year End December 31
SIC 6311 - Life Insurance (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments7911511478343133
Cash and cash equivalents7911511478343133
Restricted cash and investments  2838246
Receivables67185     
Deferred costs    320
Intangible current assets3     
Total current assets:150299143116393740
Noncurrent Assets
Property, plant and equipment 2     
Long-term investments and receivables, including:232361     
Long-term investments2361     
Accounts and financing receivable, after allowance for credit loss29      
Other undisclosed long-term investments and receivables201      
Intangible assets, net (including goodwill)2,358     
Goodwill2,358      
Total noncurrent assets:2,590362     
Other undisclosed assets895819676527359287236
TOTAL ASSETS:3,6351,481819643398323275
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities 962211
Accounts payable 962211
Accounts payable and other accrued liabilities1
Debt174 2121566572 
Total current liabilities:174921915867731
Noncurrent Liabilities
Long-term debt and lease obligation   20   
Long-term debt, excluding current maturities   20   
Liabilities, other than long-term debt99      
Deferred revenue41
Deferred income tax liabilities58
Total noncurrent liabilities:99  20   
Other undisclosed liabilities1,4911,191467398315227255
Total liabilities:1,7651,200685576382301256
Commitments and contingencies   (20)(21)(21) 
Temporary equity, carrying amount1,270  20212125
Stockholders' equity
Stockholders' equity attributable to parent, including:334281134671622(5)
Common stock0000000
Treasury stock, value(25)      
Additional paid in capital233250 717163
Accumulated deficit(77)(185)(39)(19)(22)(14)(8)
Warrants and rights outstanding    00 
Other undisclosed stockholders' equity attributable to parent202216173792020 
Stockholders' equity attributable to noncontrolling interest267      
Total stockholders' equity:601281134671622(5)
TOTAL LIABILITIES AND EQUITY:3,6351,481819643398323275

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

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Revenues92(0)6469403033
Realized investment gains    618 
Other income171411 
Cost of revenue(0)(6)(2)(16)(9)  
Cost of goods and services sold (1)(2)    
Provision for loan, lease, and other losses(0)(4)
Financial services costs (16)(9)  
Gross profit:92(6)6354303033
Operating expenses(172)(119)(87)(69)(51)(39)(31)
Other operating income (expense), net
(Other Expenses)
     (5)4
Operating income (loss):(80)(125)(24)(15)(20)(13)6
Nonoperating expense
(Investment Income, Nonoperating)
     (8) 
Interest and debt expense(115)(80)(54)(42)(32)(27)(21)
Other undisclosed income from continuing operations before equity method investments, income taxes115865658414017
Income (loss) from continuing operations before equity method investments, income taxes:(80)(119)(23)1(11)(8)2
Income (loss) from equity method investments(4)0     
Income (loss) from continuing operations before income taxes:(84)(119)(23)1(11)(8)2
Income tax expense (benefit)(58) 2(0)42(2)
Net income (loss):(142)(119)(21)0(7)(6)(0)
Other undisclosed net income attributable to parent250      
Net income (loss) attributable to parent:108(119)(21)0(7)(6)(0)
Preferred stock dividends and other adjustments(17)(17)(13)(4) 0(0)
Other undisclosed net income (loss) available to common stockholders, basic    1(0)(1)
Net income (loss) available to common stockholders, basic:91(136)(33)(3)(6)(6)(1)
Other undisclosed net income available to common stockholders, diluted2      
Net income (loss) available to common stockholders, diluted:93(136)(33)(3)(6)(6)(1)

Comprehensive Income ($ in millions)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Net income (loss):(142)(119)(21)0(7)(6)(0)
Comprehensive income (loss), net of tax, attributable to parent:(142)(119)(21)0(7)(6)(0)

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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