Kingsway Financial Services, Inc. (KFS) financial statements (2021 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)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments15141544375274
Cash and cash equivalents14131544365274
Short-term investments0000000
Total current assets:15141544375274
Noncurrent Assets
Operating lease, right-of-use asset33
Property, plant and equipment959910310811766
Long-term investments and receivables322811010202
Long-term investments332911011202
Accounts and financing receivable, after allowance for credit loss(0)(1)(0)(0)(0)(0) 
Intangible assets, net (including goodwill)2051691581681602558
Goodwill121827580711011
Intangible assets, net (excluding goodwill)84868388891547
Total noncurrent assets:3362992622862875066
Other undisclosed assets10287102154177139161
TOTAL ASSETS:452400378485501241302
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities  3    
Interest and dividends payable  3    
Total current liabilities:  3    
Noncurrent Liabilities
Liabilities, other than long-term debt2829     
Deferred income tax liabilities2829
Total noncurrent liabilities:2829     
Other undisclosed liabilities406350346435438191254
Total liabilities:434379348435438191254
Temporary equity, carrying amount7765666
Stockholders' equity
Stockholders' equity attributable to parent(2)11239564237
Treasury stock, value(0)(0)     
Additional paid in capital355354354356354342341
Accumulated other comprehensive income (loss)383541(4)(0)99
Accumulated deficit(395)(388)(382)(313)(298)(309)(312)
Stockholders' equity attributable to noncontrolling interest1413125124
Total stockholders' equity:12142444574442
TOTAL LIABILITIES AND EQUITY:452400378485501241302

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

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Revenues616052193177160188
Operating leases, income statement, lease revenue13
Insurance commissions and fees484638
Financial services revenue162152140 
Cost of revenue (4)(3)(28)(28)(27)(4)
Cost of goods and services sold      (4)
Deferred policy acquisition costs, amortization expense (4)(3)(28)(28)(26)23
Gross profit:615649165149133184
Operating expenses(66)(61)(54)(211)(183)(161)(187)
Other operating expense, net  (20)(11)(4)(10) 
Other undisclosed operating income 4324431369
Operating income (loss):(5)(1)7(14)(7)(2)6
Nonoperating income (expense)6(6)(2)(3)7(8)0
Investment income, nonoperating536614(3)0
Profit from real estate operations1 1    
Other nonoperating income (expense)(0)(9)(9)(9)(8)(4)0
Interest and debt expense(23)(9)(7)(5)(4)(5)(6)
Other undisclosed income from continuing operations before equity method investments, income taxes      0
Income (loss) from continuing operations before equity method investments, income taxes:(22)(16)(3)(22)(5)(15)1
Income (loss) from equity method investments 0(2)2(1)(0)(0)
Other undisclosed income (loss) from continuing operations before income taxes1513(17)(10)(5)4(12)
Loss from continuing operations before income taxes:(7)(3)(22)(29)(10)(11)(11)
Income tax expense (benefit)10(0)1810(0)0
Loss before gain (loss) on sale of properties:(5)(3)(22)(12)(1)(11)(11)
Other undisclosed net income (loss)0(2)(6)1113 
Net income (loss):(5)(4)(28)(11)11(11)
Net income (loss) attributable to noncontrolling interest1(2)(2)(4)0(0)(2)
Other undisclosed net loss attributable to parent(4) (1)    
Net income (loss) attributable to parent:(8)(6)(31)(15)11(13)
Preferred stock dividends and other adjustments(1)(1) (0)   
Other undisclosed net income (loss) available to common stockholders, basic1 6 (0)(0)(0)
Net income (loss) available to common stockholders, diluted:(8)(7)(25)(16)01(13)

Comprehensive Income ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Net income (loss):(5)(4)(28)(11)11(11)
Other comprehensive income (loss)3(5)4(4)20(1)
Comprehensive income (loss):(3)(10)(24)(15)31(12)
Comprehensive income (loss), net of tax, attributable to noncontrolling interest(1)(2)(2)(4)001
Other undisclosed comprehensive loss, net of tax, attributable to parent      (3)
Comprehensive income (loss), net of tax, attributable to parent:(4)(11)(26)(19)32(14)

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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