Tiptree Inc. (TIPT) financial statements (2021 and earlier)
Company profile
| Business Address |
299 PARK AVENUE NEW YORK, NY 10171 |
| State of Incorp. | MD |
| 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 investments | 261 | 288 | 209 | 136 | 112 | 69 | 53 | ||
| Cash and cash equivalents | 137 | 133 | 86 | 111 | 63 | 69 | 53 | ||
| Short-term investments | 124 | 155 | 123 | 26 | 49 | ||||
| Inventory, net of allowances, customer advances and progress billings | 2 | ||||||||
| Inventory | 2 | ||||||||
| Disposal group, including discontinued operation | 5 | 7 | 3 | 11 | |||||
| Total current assets: | 266 | 296 | 212 | 147 | 112 | 72 | 53 | ||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 27 | ✕ | ✕ | ✕ | ✕ | ✕ | |||
| Property, plant and equipment | 16 | 12 | 6 | 4 | 6 | 7 | 14 | ||
| Long-term investments and receivables | 2 | ||||||||
| Long-term investments | 2 | ||||||||
| Intangible assets, net (including goodwill) | 317 | 147 | 144 | 156 | 178 | 186 | 215 | ||
| Goodwill | 179 | 99 | 92 | 92 | 93 | 93 | 95 | ||
| Intangible assets, net (excluding goodwill) | 138 | 48 | 52 | 64 | 85 | 93 | 120 | ||
| Total noncurrent assets: | 361 | 159 | 150 | 160 | 184 | 193 | 231 | ||
| Other undisclosed assets | 2,370 | 1,743 | 1,503 | 1,683 | 2,594 | 2,236 | 7,911 | ||
| TOTAL ASSETS: | 2,996 | 2,198 | 1,865 | 1,990 | 2,890 | 2,501 | 8,195 | ||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Noncurrent Liabilities | |||||||||
| Other undisclosed liabilities | 2,622 | 1,787 | 1,466 | 1,593 | 2,500 | 2,104 | 7,794 | ||
| Total liabilities: | 2,622 | 1,787 | 1,466 | 1,593 | 2,500 | 2,104 | 7,794 | ||
| Stockholders' equity | |||||||||
| Stockholders' equity attributable to parent, including: | 356 | 398 | 387 | 300 | 293 | 313 | 284 | ||
| Common stock | 0 | ||||||||
| Additional paid in capital | 315 | 326 | 332 | 296 | 297 | 297 | 271 | ||
| Accumulated other comprehensive income (loss) | 6 | 2 | (2) | 1 | 1 | (0) | (0) | ||
| Retained earnings | 35 | 70 | 57 | 38 | 38 | 16 | 13 | ||
| Other undisclosed stockholders' equity attributable to parent | 0 | 0 | (35) | (42) | 0 | 0 | |||
| Stockholders' equity attributable to noncontrolling interest | 97 | 85 | 117 | ||||||
| Other undisclosed stockholders' equity | 17 | 13 | 12 | 97 | |||||
| Total stockholders' equity: | 374 | 411 | 399 | 397 | 390 | 398 | 402 | ||
| TOTAL LIABILITIES AND EQUITY: | 2,996 | 2,198 | 1,865 | 1,990 | 2,890 | 2,501 | 8,195 | ||
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 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 810 | 773 | 626 | 582 | 567 | 440 | 80 | |
| Revenue, net | ✕ | ✕ | ✕ | 19 | 18 | |||
| Premiums earned, net | 478 | 499 | 428 | ✕ | ✕ | ✕ | ✕ | |
| Financial services revenue | ✕ | ✕ | ✕ | 467 | 339 | 307 | 21 | |
| Cost of revenue | (266) | (288) | (246) | (221) | (142) | (1) | (3) | |
| Deferred policy acquisition costs, amortization expense | (266) | (288) | (246) | (221) | (142) | |||
| Financial services costs | ✕ | ✕ | ✕ | (1) | (3) | |||
| Gross profit: | 545 | 485 | 379 | 360 | 425 | 439 | 77 | |
| Operating expenses | (849) | (544) | (446) | (99) | ||||
| Other operating income, net (Other Expenses) | 15 | |||||||
| Operating income (loss): | (305) | 485 | 379 | 360 | (119) | (6) | (7) | |
| Nonoperating income (Investment Income, Nonoperating) | 18 | |||||||
| Interest and debt expense | (0) | (1) | (0) | (1) | (30) | (23) | (13) | |
| Income (loss) from continuing operations before equity method investments, income taxes: | (305) | 484 | 379 | 359 | (149) | (30) | (1) | |
| Income from equity method investments | 3 | |||||||
| Other undisclosed income (loss) from continuing operations before income taxes | 266 | (455) | (399) | (363) | 192 | 18 | (1) | |
| Income (loss) from continuing operations before income taxes: | (39) | 29 | (20) | (3) | 43 | (12) | 1 | |
| Income tax expense (benefit) | 14 | (9) | 6 | 13 | (11) | (1) | (4) | |
| Income (loss) from continuing operations: | (25) | 20 | (14) | 9 | 32 | (14) | (3) | |
| Income (loss) from discontinued operations | 44 | (4) | 23 | 8 | ||||
| Net income (loss): | (25) | 20 | 30 | 5 | 32 | 9 | 5 | |
| Net loss attributable to noncontrolling interest | (6) | |||||||
| Other undisclosed net loss attributable to parent | (4) | (2) | (6) | (2) | (7) | (3) | ||
| Net income (loss) available to common stockholders, diluted: | (29) | 18 | 24 | 4 | 25 | 6 | (2) | |
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): | (25) | 20 | 30 | 5 | 32 | 9 | 5 | |
| Other comprehensive income (loss) | 4 | 4 | (4) | 1 | 1 | (0) | (0) | |
| Comprehensive income (loss): | (21) | 24 | 26 | 6 | 34 | 9 | 5 | |
| Comprehensive income, net of tax, attributable to noncontrolling interest | 6 | |||||||
| Other undisclosed comprehensive loss, net of tax, attributable to parent | (4) | (2) | (5) | (2) | (8) | (3) | (13) | |
| Comprehensive income (loss), net of tax, attributable to parent: | (25) | 22 | 21 | 4 | 26 | 6 | (2) | |
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.