GWG Holdings, Inc (GWGH) financial statements (2023 and earlier)

Company profile

Business Address 325 N. ST. PAUL STREET
DALLAS, TX 75201
State of Incorp.
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)

9/30/2021
TTM
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments 85791151147834
Cash and cash equivalents 85791151147834
Restricted cash and investments    28382
Receivables  67185   
Deferred costs      3
Intangible current assets  3    
Total current assets: 8515029914311639
Noncurrent Assets
Operating lease, right-of-use asset 1 
Property, plant and equipment   2   
Long-term investments and receivables, including: 9232361   
Long-term investments 92361   
Accounts and financing receivable, after allowance for credit loss  29    
Other undisclosed long-term investments and receivables  201    
Intangible assets, net (including goodwill) 2,3682,358    
Goodwill 2,3682,358    
Total noncurrent assets: 2,3772,590362   
Other undisclosed assets 1,102895819676527359
TOTAL ASSETS: 3,5653,6351,481819643398
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities   9622
Accounts payable   9622
Debt 194174 21215665
Total current liabilities: 194174921915867
Noncurrent Liabilities
Long-term debt and lease obligation     20 
Long-term debt, excluding current maturities     20 
Liabilities, other than long-term debt 5199    
Deferred revenue  41
Deferred income tax liabilities 5158
Total noncurrent liabilities: 5199  20 
Other undisclosed liabilities 1,6461,4911,191467398315
Total liabilities: 1,8911,7651,200685576382
Commitments and contingencies     (20)(21)
Temporary equity, carrying amount 1,2331,270  2021
Stockholders' equity
Stockholders' equity attributable to parent, including: 1123342811346716
Common stock 000000
Treasury stock, value (67)(25)    
Additional paid in capital 274233250 717
Accumulated deficit (251)(77)(185)(39)(19)(22)
Warrants and rights outstanding      0
Other undisclosed stockholders' equity attributable to parent 1572022161737920
Stockholders' equity attributable to noncontrolling interest 328267    
Total stockholders' equity: 4416012811346716
TOTAL LIABILITIES AND EQUITY: 3,5653,6351,481819643398

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

9/30/2021
TTM
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Revenues 12492(0)646940
Realized investment gains      6
Other income 29171411 
Cost of revenue (349)(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: (225)92(6)635430
Operating expenses  (172)(119)(87)(69)(51)
Other operating expense, net
(Other Expenses)
 (18)     
Operating loss: (243)(80)(125)(24)(15)(20)
Interest and debt expense (155)(115)(80)(54)(42)(32)
Other undisclosed income from continuing operations before equity method investments, income taxes 17311586565841
Income (loss) from continuing operations before equity method investments, income taxes: (225)(80)(119)(23)1(11)
Income (loss) from equity method investments (7)(4)0   
Income (loss) from continuing operations before income taxes: (232)(84)(119)(23)1(11)
Income tax expense (benefit) 16(58) 2(0)4
Net income (loss): (216)(142)(119)(21)0(7)
Net income attributable to noncontrolling interest 62     
Other undisclosed net income (loss) attributable to parent (62)250    
Net income (loss) attributable to parent: (216)108(119)(21)0(7)
Preferred stock dividends and other adjustments (15)(17)(17)(13)(4) 
Other undisclosed net income available to common stockholders, basic 62    1
Net income (loss) available to common stockholders, basic: (169)91(136)(33)(3)(6)
Other undisclosed net income available to common stockholders, diluted  2    
Net income (loss) available to common stockholders, diluted: (169)93(136)(33)(3)(6)

Comprehensive Income ($ in millions)

9/30/2021
TTM
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Net income (loss): (216)(142)(119)(21)0(7)
Comprehensive income (loss): (216)(142)(119)(21)0(7)
Comprehensive income, net of tax, attributable to noncontrolling interest 62     
Comprehensive income (loss), net of tax, attributable to parent: (154)(142)(119)(21)0(7)

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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