NI Holdings, Inc. (NODK) financial statements (2022 and earlier)

Company profile

Business Address 1101 FIRST AVENUE NORTH
FARGO, ND 58102
State of Incorp.
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 thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments71,123101,57762,63269,45028,09418,818
Cash and cash equivalents70,623101,07762,13268,95027,59418,318
Short-term investments500500500500500500
Receivables 6,646    
Total current assets:71,123108,22362,63269,45028,09418,818
Noncurrent Assets
Property, plant and equipment9,8699,8997,6946,9795,8774,819
Intangible assets, net (including goodwill)17,72218,1942,9124,6232,6282,585
Goodwill9,3849,3842,9124,6232,6282,628
Intangible assets, net (excluding goodwill)8,3388,810   (43)
Total noncurrent assets:27,59128,09310,60611,6028,5057,404
Other undisclosed assets553,068481,287434,921377,440340,389252,481
TOTAL ASSETS:651,782617,603508,159458,492376,988278,703
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities 7541,645197991 
Taxes payable 7541,645197991 
Debt    3,0003,000
Total current liabilities: 7541,6451973,9913,000
Noncurrent Liabilities
Liabilities, other than long-term debt5,5068,7573,9967112,5392,915
Deferred tax liabilities, net7112,5392,915
Deferred income tax liabilities5,5068,7573,996
Total noncurrent liabilities:5,5068,7573,9967112,5392,915
Other undisclosed liabilities298,863259,220192,715181,831114,885119,370
Total liabilities:304,369268,731198,356182,739121,415125,285
Stockholders' equity
Stockholders' equity attributable to parent, including:344,388344,327309,803275,753255,573153,418
Common stock230230230230230 
Treasury stock, value(26,452)(23,968)(12,308)(10,634)(8,037) 
Additional paid in capital98,16697,91195,96194,48693,496 
Accumulated other comprehensive income5,23712,8405,6126,37615,99810,305
Retained earnings267,207258,741218,480183,946152,865139,591
Unearned esop shares (1,427)(1,671)(1,914)(2,157) 
Other undisclosed stockholders' equity attributable to parent  3,4993,2633,1783,522
Stockholders' equity attributable to noncontrolling interest4,2094,545    
Other undisclosed stockholders' equity(1,184)     
Total stockholders' equity:347,413348,872309,803275,753255,573153,418
TOTAL LIABILITIES AND EQUITY:651,782617,603508,159458,492376,988278,703

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

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Revenues323,974306,357270,779212,370189,140164,349
Premiums earned, net299,589283,661246,438195,720
Financial services revenue181,112154,386
Cost of revenue(280,953)(219,945)(215,898)(150,944)(150,461)(20,423)
Policyholder benefits and claims incurred, net(216,379)(168,473)(169,710)(119,088)
Deferred policy acquisition costs, amortization expense(64,574)(51,472)(46,188)(31,856)(27,750)(20,423)
Financial services costs(122,711) 
Other undisclosed gross profit40,18928,77621,84715,20618,074 
Gross profit:83,210115,18876,72876,63256,753143,926
Operating expenses(312,668)(253,541)(236,968)(173,798)(167,134)(158,232)
Operating loss:(229,458)(138,353)(160,240)(97,166)(110,381)(14,306)
Nonoperating income
(Investment Income, Nonoperating)
7,13115,0427,4336,1808,028 
Other undisclosed income from continuing operations before equity method investments, income taxes 153,431162,277112,908114,683 
Income (loss) from continuing operations before equity method investments, income taxes:(222,327)30,1209,47021,92212,330(14,306)
Other undisclosed income from continuing operations before income taxes233,63322,69624,34116,6509,67620,423
Income from continuing operations before income taxes:11,30652,81633,81138,57222,0066,117
Income tax expense(2,974)(11,472)(7,311)(7,328)(6,394)(1,479)
Net income:8,33241,34426,50031,24415,6124,638
Net income (loss) attributable to noncontrolling interest84(955)(99)(163)379(87)
Net income available to common stockholders, diluted:8,41640,38926,40131,08115,9914,551

Comprehensive Income ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Net income:8,33241,34426,50031,24415,6124,638
Other comprehensive income (loss)(7,855)7,3197,557(9,700)3,011(1,138)
Comprehensive income:47748,66334,05721,54418,6233,500
Comprehensive income (loss), net of tax, attributable to noncontrolling interest84(955)(99)(163)379(87)
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(84)95599163(379)87
Comprehensive income, net of tax, attributable to parent:47748,66334,05721,54418,6233,500

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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