Kingsway financial services inc. (KFS)
CashFlow / Yearly
Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11
Net Cash Provided by (Used in) Operating Activities, Continuing Operations [Abstract]
Operating activities:
Net loss

-28,336

-11,609

522

1,269

-11,224

-36,084

-53,278

-27,371

Loss on liquidation of subsidiary

0

-494

-

-

-

-

-

-

Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Discontinued Operation, Income (Loss) from Discontinued Operation During Phase-out Period, Net of Tax

1,064

-16,306

-

-

-

-

-

-

Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax

-7,136

1,017

1,255

11,267

0

7,227

0

-

Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest

-

-

-

-

-

-

-

-1,293

Income (Loss) from Equity Method Investments

-2,499

2,115

-1,017

-339

-190

255

-1,004

417

Dividend received from investee

780

0

-

-

-

-

-

3

Income (Loss) from Equity Method Investments, Net of Dividends or Distributions

241

1,551

1,157

1,596

184

118

-68

-

Loss on change in fair value of limited liability investment

-7,393

-1,832

5,100

-216

0

-

-

-

Depreciation and amortization expense

6,711

5,390

2,780

1,845

1,635

-

-

-

Depreciation and amortization expense

-

-

-

-

-

3,838

2,955

2,271

Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability

0

-212

-657

-1,139

-2,223

785

75

-

Contingent consideration expense

-

-

-

-

-

-

75

-

Stock-based compensation expense (benefit), net of forfeitures

-1,661

1,186

1,015

802

1,239

325

354

-37

Realized Investment Gains (Losses)

-17

306

360

1,197

5,041

3,505

1,084

1,095

Gain (Loss) on Sale of Equity Investments

381

0

-

-

-

-

-

-

Net change in unrealized loss on private company investments

-1,629

-758

-

-

-

-

-

-

(Gain) loss on change in fair value of debt

-1,720

-8,487

-3,721

1,458

-10,953

-

-

-

Deferred income taxes, adjusted for Geminus liabilities assumed

226

17,316

-

-

-

-

-

-

(Gain) loss on change in fair value of debt

-

-

-

-

-

-9,060

-9,234

25,876

Deferred income taxes

-

-

-9,807

87

263

435

1,085

3,423

Intangible asset impairment

-

-

-

-

-1,180

0

-

-

Intangible asset impairment

-

-

0

0

-

-

-

-

Other-than-temporary impairment loss

-

-

157

10

0

-

-

-

Amortization of fixed maturities premiums and discounts

-57

-95

-218

-323

-618

-

-

-

Other-than-temporary impairment loss

-

-

-

-

-

1,800

2,703

0

Goodwill impairment

-

-

-

-

-

-

-

2,830

Amortization of note payable premium

-939

-960

-447

0

0

2,551

3,624

890

Gain on disposal of subsidiary

17

0

-

-

-

-

-

-

Loss on disposal of asset held for sale

-

-

-

-

-125

-2,390

0

-

(Gain) loss on deconsolidation of subsidiaries

-

-

5,643

-4,420

0

-

-

-

Gain on disposal of subsidiary

-

-

0

0

-1,244

0

-

-

Increase (Decrease) in Other Operating Assets and Liabilities, Net [Abstract]
Realized loss (gain) on buy-back of debt

-

-

-

-

-

-24

500

556

Changes in operating assets and liabilities:
Increase (Decrease) in Receivables

-997

1,689

4,883

-1,848

-3,001

276

9,092

-13,704

Other receivables, net, adjusted for Geminus assets acquired

2,276

3,099

-1,068

-1,356

1,372

-653

-

-

Reinsurance recoverable

-

-

-

-

-6,683

1,778

7,860

-7,955

Prepaid reinsurance premiums

-

-

-

-

-

-500

-

-

Deferred acquisition costs, net

579

498

1,466

-54

-195

-1,710

903

-5,836

Income taxes recoverable

-

-

-

-

74

0

-8,134

-9,857

Unpaid loss and loss adjustment expenses

744

-873

-1,736

-8,424

-20,792

-

-

-

Increase (Decrease) in Restricted Cash for Operating Activities

-

-

-

-

-

-

-

-22,259

Unpaid loss and loss adjustment expenses

-

-

-

-

-

18,902

17,359

54,450

Unearned premiums

-

-

4,942

-1,198

-12,145

3,530

5,624

-27,456

Reinsurance payable

-

-

-

-

-508

-3,923

3,043

912

Deferred service fees, adjusted for Geminus liabilities assumed

6,017

1,830

1,503

-777

493

-199

2,098

-72

Other, net, adjusted for Geminus assets acquired and liabilities assumed

2,745

5,133

21

18,318

-9,405

-2,852

-3,379

10,017

Cash provided by (used in) operating activities - continuing operations

-2,765

-10,000

-

-

-

-

-46,696

-76,114

Cash used in operating activities - discontinued operations

-7,378

-4,404

-

-

-

-

-

-

Net cash provided by (used in) operating activities

-10,143

-14,404

-15,589

-32,805

-16,339

-41,814

-

-

Investing activities:
Proceeds from sales and maturities of fixed maturities

7,019

1,756

26,063

27,480

27,655

40,211

78,876

161,042

Proceeds from sales of equity investments

5,094

3,754

7,807

819

8,047

30,526

2,459

550

Purchases of fixed maturities

4,790

192

32,297

26,351

36,902

-

-

-

Proceeds from sales of investment in investee

-

-

-

-

-

13,638

4,024

0

Purchases of fixed maturities

-

-

-

-

-

16,692

49,430

127,780

Purchases of equity investments

1,211

338

3,178

9,564

14,462

1,586

0

1,420

Proceeds from Sale of Equity Method Investments

3,470

-

-

-

-

-

-

-

Net purchases of limited liability investments, at fair value

-

7,789

3,118

10,312

2,703

0

-

-

Net purchases of limited liability investments, at fair value

1,580

664

-

-

-

-

-

-

Net proceeds from investments in private companies

0

171

3,898

600

-

-

-

-

Net proceeds from other investments

1,642

2,272

-

-

-

0

-

-

Net acquisition of limited liability investments

-

-

-

-

-

2,749

2,403

1,976

Acquisition of limited liability investments

-

-

-

-

-

-

-

100

Net purchases of other investments

-

-

-

-

600

906

2,000

0

Net proceeds from short-term investments

1

-250

264

-4

102

-

-

-

Net proceeds from (purchases of) short-term investments

-

-

-

-

-

237

250

-

Cash Acquired from Acquisition

-

-

-

-

-

-

14,859

-

Net purchases of property and equipment, adjusted for Geminus assets acquired

-

-

645

203

-

1,126

170

1,344

Proceeds from Sale of Other Assets, Investing Activities

1,001

0

-

-

-

-

-

-

Proceeds from disposal of subsidiary

-565

0

-

-

2,305

-

-

-

Proceeds from disposal of subsidiary

6,343

1,017

1,255

44,919

0

-

-

-

Acquisition of business, net of cash acquired

0

7,929

494

0

0

1,052

-

0

Proceeds from Sale of Property, Plant, and Equipment

519

4,743

-

-

4,663

-

-

-

Proceeds from issuance of preferred stock, net

-

-

-

-

6,330

0

-

-

Proceeds from issuance of common stock, net

-

-

10,477

0

0

12,100

132

350

Cash (used in) provided by investing activities - continuing operations

18,071

-3,291

-

-

-

-

45,965

28,972

Cash provided by investing activities - discontinued operations

1,977

23,392

-

-

-

-

-

-

Net cash (used in) provided by investing activities

20,048

20,101

-8,769

26,192

-16,709

60,027

-

-

Financing activities:
Proceeds from issuance of common stock, net

0

47

-

-

-

-

-

-

Contributions from noncontrolling interest holders

678

339

-

-

-

-

-

-

Taxes paid related to net share settlements of restricted stock awards

376

0

-

-

-

-

-

-

Payment of notes payable

-

-

-

-

-

-

-2,418

-

Principal proceeds from bank loan, net of debt issuance costs of $981

-

-

-

-

-

-

-

2,418

Principal payments on notes payable

-

-

0

12,920

0

-

-

-

Net Cash Provided by (Used in) Financing Activities, Continuing Operations [Abstract]
Principal payments on bank loan

1,000

-

-

-

-

-

-

-

Principal (payments on) proceeds from bank loan

-

4,917

-

-

-

-

-

-

Repurchase of common stock for cancellation

-

-

125

0

0

-

-

-

Proceeds from bank loan, net of principal payments

-

-

0

0

-

-

-

-

Proceeds from exercise of warrants

-

-

-

-

14,803

0

-

-

Principal payments on notes payable

3,392

3,037

1,220

0

0

-

-

-

Cash provided by (used in) financing activities - continuing operations

-4,090

2,172

-

-

-

-

-

-

Cash used in financing activities - discontinued operations

0

0

-

-

-

-

-

-

Redemption of senior unsecured debentures

-

-

-

-

14,356

12,537

1,656

10,707

Net cash provided by (used in) financing activities

-4,090

2,172

9,132

-12,920

6,777

-437

-3,942

-7,939

Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect

11,216

-11,119

-

-

-

-

-

-

Net increase (decrease) in cash and cash equivalents and restricted cash from continuing operations

-

-

-15,226

-19,533

-26,271

-

-4,673

-55,081

Cash, Period Increase (Decrease)

-

-

-

-

-

17,776

-

-

Interest

-

-

-

-

-

5,145

4,487

4,525

Income Taxes Paid, Net

-

-

-

-

-

-

-7,956

-

Income taxes

-

-

-

-

-

674

-

-13,098