Tower Group International LTD (TWGP) financial statements (2021 and earlier)
Company profile
| Business Address |
CROWN HOUSE HAMILTON, HM 08 |
| 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 millions)
| 12/31/2013 | 12/31/2012 | 12/31/2011 | |||
|---|---|---|---|---|---|
| ASSETS | |||||
| Current Assets | |||||
| Cash, cash equivalents, and short-term investments | 294 | 102 | ✕ | ||
| Cash and cash equivalents | 294 | 102 | ✕ | ||
| Total current assets: | 294 | 102 | ✕ | ||
| Noncurrent Assets | |||||
| Property, plant and equipment | 139 | 139 | ✕ | ||
| Long-term investments and receivables | 72 | ✕ | |||
| Long-term investments | 72 | ✕ | |||
| Intangible assets, net (including goodwill) | 80 | 348 | ✕ | ||
| Goodwill | 241 | ✕ | |||
| Intangible assets, net (excluding goodwill) | 80 | 107 | ✕ | ||
| Total noncurrent assets: | 219 | 559 | ✕ | ||
| Other undisclosed assets | 3,442 | 4,050 | ✕ | ||
| TOTAL ASSETS: | 3,956 | 4,712 | ✕ | ||
| LIABILITIES AND EQUITY | |||||
| Liabilities | |||||
| Current Liabilities | |||||
| Noncurrent Liabilities | |||||
| Long-term debt and lease obligation | 10 | ✕ | |||
| Long-term debt, excluding current maturities | 10 | ✕ | |||
| Total noncurrent liabilities: | 10 | ✕ | |||
| Other undisclosed liabilities | 3,845 | 3,728 | ✕ | ||
| Total liabilities: | 3,855 | 3,728 | ✕ | ||
| Stockholders' equity | |||||
| Stockholders' equity attributable to parent | 96 | 950 | ✕ | ||
| Common stock | 1 | 1 | ✕ | ||
| Treasury stock, value | (0) | (181) | ✕ | ||
| Additional paid in capital | 815 | 780 | ✕ | ||
| Accumulated other comprehensive income (loss) | (20) | 83 | ✕ | ||
| Retained earnings (accumulated deficit) | (701) | 268 | ✕ | ||
| Stockholders' equity attributable to noncontrolling interest | 5 | 34 | ✕ | ||
| Total stockholders' equity: | 101 | 984 | ✕ | ||
| TOTAL LIABILITIES AND EQUITY: | 3,956 | 4,712 | ✕ | ||
Income statement (P&L) ($ in millions)
| 12/31/2013 | 12/31/2012 | 12/31/2011 | ||
|---|---|---|---|---|
| Revenues | 1,742 | 1,923 | ✕ | |
| Financial services revenue | 1,513 | 1,722 | ✕ | |
| Cost of revenue (Financial Services Costs) | (1,520) | (1,264) | ✕ | |
| Gross profit: | 222 | 659 | ✕ | |
| Operating expenses | (818) | (360) | ✕ | |
| Operating income (loss): | (596) | 299 | ✕ | |
| Nonoperating income | 153 | 161 | ✕ | |
| Investment income, nonoperating | 148 | 162 | ✕ | |
| Interest and debt expense | (34) | (33) | ✕ | |
| Income (loss) from continuing operations before equity method investments, income taxes: | (477) | 427 | ✕ | |
| Income (loss) from equity method investments | 7 | (1) | ✕ | |
| Income (loss) from continuing operations before income taxes: | (470) | 425 | ✕ | |
| Income tax expense (benefit) | (8) | 29 | ✕ | |
| Income (loss) before gain (loss) on sale of properties: | (478) | 455 | ✕ | |
| Other undisclosed net loss | (483) | (487) | ✕ | |
| Net loss: | (961) | (32) | ✕ | |
| Net income (loss) attributable to noncontrolling interest | 19 | (2) | ✕ | |
| Net loss attributable to parent: | (943) | (34) | ✕ | |
| Other undisclosed net loss available to common stockholders, basic | (0) | (1) | ✕ | |
| Net loss available to common stockholders, diluted: | (943) | (35) | ✕ | |
Comprehensive Income ($ in millions)
| 12/31/2013 | 12/31/2012 | 12/31/2011 | ||
|---|---|---|---|---|
| Net loss: | (961) | (32) | ✕ | |
| Other comprehensive income (loss) | (115) | 22 | ✕ | |
| Comprehensive loss: | (1,076) | (10) | ✕ | |
| Comprehensive income (loss), net of tax, attributable to noncontrolling interest | (31) | 5 | ✕ | |
| Other undisclosed comprehensive income (loss), net of tax, attributable to parent | 62 | (10) | ✕ | |
| Comprehensive loss, net of tax, attributable to parent: | (1,045) | (15) | ✕ | |
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.