Hallmark Financial Services, Inc. (HALL) Financial Statements (2024 and earlier)

Company Profile

Business Address 777 MAIN STREET, SUITE 1000
FORT WORTH, TX 76102
State of Incorp. NV
Fiscal Year End December 31
Industry (SIC) 6399 - Insurance Carriers, Not Elsewhere Classified (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 investments59,133352,867131,968152,55135,59464,982
Cash and cash equivalents59,133352,867102,58053,33635,59464,982
Short-term investments   29,38899,215  
Total current assets:59,133352,867131,968152,55135,59464,982
Noncurrent Assets
Operating lease, right-of-use asset12,48113,21113,98616,044
Property, plant and equipment 6,6008,2009,20010,8007,0007,600
Long-term investments and receivables 1,7021,7021,7021,7021,7021,702
Long-term investments 1,7021,7021,7021,7021,7021,702
Intangible assets, net (including goodwill)  8191,32249,78252,25054,718
Goodwill    44,69544,69544,695
Intangible assets, net (excluding goodwill)  8191,3225,0877,55510,023
Regulated entity, other noncurrent assets     898949
Deferred income tax assets  8,9068,724 
Total noncurrent assets:20,78332,83834,93478,32861,85064,969
Other undisclosed assets1,456,7861,167,8931,318,6311,264,3951,167,4501,101,175
TOTAL ASSETS:1,536,7021,553,5981,485,5331,495,2741,264,8941,231,126
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Noncurrent Liabilities
Long-term debt and lease obligation49,35249,25449,15649,058  
Long-term debt, excluding current maturities49,35249,25449,15649,058  
Total noncurrent liabilities:49,35249,25449,15649,058  
Other undisclosed liabilities1,427,0561,328,8231,265,4551,182,9341,009,362980,008
Total liabilities:1,476,4081,378,0771,314,6111,231,9921,009,362980,008
Equity
Equity, attributable to parent60,294175,521170,922263,282255,532251,118
Common stock2,0873,7573,7573,7573,7573,757
Treasury stock, value(24,634)(24,748)(25,026)(25,201)(25,928)(24,527)
Additional paid in capital124,740122,844122,893123,468123,168123,180
Accumulated other comprehensive income (loss)(8,492)(1,035)383688(6,660)12,234
Retained earnings (accumulated deficit)(33,407)74,70368,915160,570161,195136,474
Total equity:60,294175,521170,922263,282255,532251,118
TOTAL LIABILITIES AND EQUITY:1,536,7021,553,5981,485,5331,495,2741,264,8941,231,126

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
Revenues159,918404,703478,745486,371379,268385,521
Premiums earned, net147,924379,290481,798436,877 
Cost of revenue(209,170)(275,244)(412,851)(362,165)(256,028)(288,308)
Policyholder benefits and claims incurred, net(209,170)(275,244)(412,851)(362,165) 
Financial services costs(256,028)(288,308)
Gross profit:(49,252)129,45965,894124,206123,24097,213
Operating expenses(71,892)(112,467)(172,262)(117,360)(103,424)(106,805)
Operating income (loss):(121,144)16,992(106,368)6,84619,816(9,592)
Interest and debt expense(5,902)(4,993)(5,326)(5,410)(4,545)(4,512)
Other undisclosed loss from continuing operations before equity method investments, income taxes   (2,468)(2,468)(2,468)(2,468)
Income (loss) from continuing operations before equity method investments, income taxes:(127,046)11,999(114,162)(1,032)12,803(16,572)
Other undisclosed loss from continuing operations before income taxes(25)(504)    
Income (loss) from continuing operations before income taxes:(127,071)11,495(114,162)(1,032)12,803(16,572)
Income tax expense (benefit)(7,856)(2,491)22,507407(2,456)5,019
Income (loss) from continuing operations:(134,927)9,004(91,655)(625)10,347(11,553)
Income (loss) before gain (loss) on sale of properties:9,004(91,655)(625)10,347(11,553)
Income from discontinued operations26,817     
Net income (loss) available to common stockholders, diluted:(108,110)9,004(91,655)(625)10,347(11,553)

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):(108,110)9,004(91,655)(625)10,347(11,553)
Other comprehensive income (loss)(7,457)(1,418)(305)7,348(4,520)1,863
Comprehensive income (loss), net of tax, attributable to parent:(115,567)7,586(91,960)6,7235,827(9,690)

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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