Kingsway Financial Services, Inc. (KFS) financial statements (2020 and earlier)

Company profile

Business Address 45 ST. CLAIR WEST
TORONTO, ON M4V 1K9
State of Incorp. ON
Fiscal Year End December 31
SIC 6331 - Fire, Marine, and Casualty Insurance (benchmarking)
More info Complete financial analysis Financial benchmarking

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

12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
12/31/2012
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments15443752749981
Cash and cash equivalents15443652749981
Short-term investments0000011
Total current assets:15443752749981
Noncurrent Assets
Property, plant and equipment1031081176623
Long-term investments and receivables11010202 42
Long-term investments11011202 42
Accounts and financing receivable, after allowance for credit loss(0)(0)(0)(0)   
Intangible assets, net (including goodwill)15816816025586059
Goodwill7580711011118
Intangible assets, net (excluding goodwill)83888915474951
Total noncurrent assets:262286287506661103
Other undisclosed assets102154177139161164188
TOTAL ASSETS:378485501241302325373
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities3      
Interest and dividends payable3      
Total current liabilities:3      
Noncurrent Liabilities
Other undisclosed liabilities346435438191254288307
Total liabilities:348435438191254288307
Temporary equity, carrying amount65666  
Stockholders' equity
Stockholders' equity attributable to parent, including:12395642373565
Additional paid in capital35435635434234132516
Accumulated other comprehensive income (loss)41(4)(0)991015
Accumulated deficit(382)(313)(298)(309)(312)(299)(262)
Other undisclosed stockholders' equity attributable to parent      297
Stockholders' equity attributable to noncontrolling interest12512410
Total stockholders' equity:24445744423765
TOTAL LIABILITIES AND EQUITY:378485501241302325373

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

12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
12/31/2012
Revenues52193177160188172150
Operating leases, income statement, lease revenue13
Insurance commissions and fees38
Financial services revenue162152140   
Cost of revenue(3)(28)(28)(27)(4)(2) 
Cost of goods and services sold    (4)(2) 
Deferred policy acquisition costs, amortization expense(3)(28)(28)(26)2331 
Gross profit:49165149133184170150
Operating expenses(54)(211)(183)(161)(187)(207)(200)
Other operating expense, net(20)(11)(4)(10)   
Other undisclosed operating income32443136921 
Operating income (loss):7(14)(7)(2)6(15)(50)
Nonoperating income (expense)(2)(3)7(8)0(10) 
Investment income, nonoperating6614(3)01 
Profit from real estate operations1      
Other nonoperating income (expense)(9)(9)(8)(4)0(11) 
Interest and debt expense(7)(5)(4)(5)(6)(7)(7)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes    0(2)7
Income (loss) from continuing operations before equity method investments, income taxes:(3)(22)(5)(15)1(35)(50)
Income (loss) from equity method investments(2)2(1)(0)(0)0(1)
Other undisclosed income (loss) from continuing operations before income taxes(17)(10)(5)4(12)(9)1
Loss from continuing operations before income taxes:(22)(29)(10)(11)(11)(43)(50)
Income tax expense (benefit)(0)1810(0)00(3)
Loss before gain (loss) on sale of properties:(22)(12)(1)(11)(11)(43)(53)
Other undisclosed net income (loss)(6)1113 7 
Net income (loss):(28)(11)11(11)(36)(53)
Net income (loss) attributable to noncontrolling interest(2)(4)0(0)(2)(1)1
Other undisclosed net loss attributable to parent(1)      
Net income (loss) attributable to parent:(31)(15)11(13)(37)(52)
Preferred stock dividends and other adjustments (0)     
Other undisclosed net income (loss) available to common stockholders, basic6 (0)(0)(0)  
Net income (loss) available to common stockholders, diluted:(25)(16)01(13)(37)(52)

Comprehensive Income ($ in millions)

12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
12/31/2012
Net income (loss):(28)(11)11(11)(36)(53)
Other comprehensive income (loss)4(4)20(1)(5)2
Comprehensive income (loss):(24)(15)31(12)(41)(51)
Comprehensive income (loss), net of tax, attributable to noncontrolling interest(2)(4)0011(1)
Other undisclosed comprehensive income (loss), net of tax, attributable to parent    (3)(1)2
Comprehensive income (loss), net of tax, attributable to parent:(26)(19)32(14)(42)(50)

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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