Tiptree inc. (TIPT)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11
Operating Activities:
Net Income (Loss) Attributable to Parent

18,361

23,933

3,604

25,320

5,779

-1,710

10,393

8,729

16,534

Net income (loss) attributable to non-controlling interests

-

-

-

-

-

-

30,336

26,883

-

Net loss attributable to VIE subordinated note holders

-

-

-

-

-

-

-

-4,041

-

Net Income (Loss), Including Portion Attributable to Noncontrolling Interest

20,122

29,883

5,234

32,338

8,802

4,584

40,729

39,653

-

Adjustments to reconcile net income to net cash provided by (used in) operating activities
(Earnings) from discontinued operations

-

-

-

-

-

-

9,559

-

-

Gain (Loss) on Investments

83,868

28,782

47,607

87,300

-

-

-

-

-

Net (gain) on sale of businesses

7,598

56,860

1,944

-

-

-

-

-

-

Realized (gain) on cash flow hedge

0

0

877

-

-

-

-

-

-

Discontinued operations, net

-

-

-

-

-

7,937

-

-

-

Net realized and unrealized (gains) losses

-

-

-

-

31,469

14,509

-

-

-

Net realized and unrealized (losses) gains, excluding discontinue operations

-

-

-

-

31,318

-

-

-

-

Net (gain) on sale of subsidiary

-

-

-

0

15,619

-

-

-

-

Net realized and unrealized (gains) losses

-

-

-

-

-

-

-

-

-77

Net realized and unrealized (gain) loss

-

-

-

-

-

-

2,055

1,377

-

Change in unrealized appreciation  trading securities

-

-

-

-

-

-

-

9,129

-

Gain on derivative instruments

-

-

-

-

-

-

-

-

1,079

Net unrealized loss (gain) on interest rate swaps

-

-

-

-22

0

0

-

-1,371

-255

Realized (gain) on cash flow hedge

-

-

-

0

852

0

-

-

-

Change in fair value of contingent consideration

0

0

-3,192

313

2,503

0

-

-

-

Impairment of goodwill

-

-

-

-

699

0

-

-

-

Gain on sale of partially-owned entities

-

-

-

-

-

-

-

-

15,327

Amortization of above-market leases

-

-

-

-

-

-

-

-

207

Amortization and write-off of deferred financing costs

-

-

-

-

-

-

-

-

75

Amortization of mortgage note premium

-

-

-

-

-

-

-

-

149

Non-cash interest from investments in loans

-

-

-

-

-

-

-

-

10

Non-cash incentive fee

-

-

-

-

-

-

-

-

488

Depreciation and amortization on real estate and fixed assets, including intangible assets

-

-

-

-

-

-

-

-

3,611

Net realized (gain) on sale of properties, net

-

-

-

-

-

-

15,463

0

-

Non cash incentive fee

-

-

-

-

-

-

-

0

-

Non-cash compensation expense

6,363

6,657

6,826

2,778

443

748

2,559

365

72

Amortization/accretion of premiums and discounts

-1,161

-1,029

-1,316

-1,386

-2,596

-

-

-

-

Amortization/accretion of premiums and discounts

-

-

-

-

-

345

-

-

-

Increase in non cash interest from investments in loans

-

-

-

-

-

-

272

0

10

Depreciation and amortization expense

13,569

12,596

29,992

28,543

46,724

11,945

3,783

-

-

Non-cash lease expense

7,568

0

0

-

-

-

-

-

-

Bad debt expense

140

243

1,019

1,719

933

459

-

-

-

Provision for doubtful accounts

-

-

-

-

-

-

0

-

-

Amortization of deferred financing costs

714

934

2,770

2,037

1,441

702

-

-

-

Loss on extinguishment of debt

-1,241

-428

-1,163

0

0

-

-

-

-

(Gain) loss on sale of loans held for sale

-

-

-

-

-

7,154

-

-

-

Deferred tax expense (benefit)

6,815

4,011

-11,249

6,447

-17,107

-249

-

-

-

Increase in deferred rent receivable

-

-

-

-

-

-

-

-

1,919

Loss/(income) from investments in partially-owned entities, net

-

-

-

-

-

-

3,250

2,308

3,088

Mortgage loans originated for sale

2,048,228

1,533,365

1,592,726

1,767,622

1,137,623

446,048

-

-

-

Proceeds from the sale of mortgage loans originated for sale

2,043,097

1,590,546

1,658,646

1,833,273

1,139,333

446,802

-

-

-

(Increase) decrease in notes and accounts receivable

33,085

35,256

48,085

13,692

33,500

-3,708

-

-

-

(Increase) decrease in reinsurance receivables

119,482

67,384

53,256

35,185

88,232

6,597

-

-

-

(Increase) decrease in deferred acquisition costs

-3,570

22,901

20,554

3,540

50,361

8,616

-

-

-

Net (increase) decrease in loans originated for sale

-

-

-

-

-

-

0

-

-

(Decrease) in due to brokers, dealers, and trustees

-

-

-

-

-

-

0

-

-

Increase in payment in kind interest

-

-

-

-

-

-

-

333

-

Distribution of loss from partially-owned entities

-

-

-

-

-

-

-

-

6,279

Deferred tax expense

-

-

-

-

-

-

-2,973

690

-

(Increase) decrease in other assets

-269

12,400

4,849

253

6,339

-4,384

12,448

-1,041

202

Non cash impairment of partially owned entity

-

-

-

-

-

-

-

0

-

Accretion of discounts and depreciation expense

-

-

-

-

-

-

-

6,375

-

Amortization and write off of deferred financing costs

-

-

-

-

-

-

26

0

-

Accretion of mortgage note discount

-

-

-

-

-

-

-198

0

-

Increase (decrease) in unearned premiums

155,549

95,998

87,880

25,261

89,873

9,797

0

-

-

Increase (decrease) in policy liabilities and unpaid claims

12,773

19,608

5,729

22,728

5,009

-70

-

-

-

Increase (decrease) in deferred revenue

16,397

19,009

4,082

-7,182

17,099

6,261

-

-

-

Increase (decrease) in reinsurance payable

26,272

27,043

19,966

4,748

45,253

-1,363

-

-

-

Increase (decrease) in other liabilities and accrued expenses

383

6,687

3,205

-919

-9,214

-18,728

6,172

1,627

-

(Decrease)/increase in policy liabilities

-

-

-

-

-

-

-

5,291

-

Operating activities from consolidated CLOs

0

0

2,954

8,631

-25,008

-21,986

28,556

5,875

-

Net cash provided by (used in) operating activities - continuing operations

-

-

-

-

-

7,604

-21,505

-

-

Net cash provided by (used in) operating activities - discontinued operations

-

-

-

-

-

16,045

18,471

-

-

Accounts payable and accrued expenses

-

-

-

-

-

-

-

-

600

Other liabilities including payable to related parties

-

-

-

-

-

-

-

-

1,422

Net cash provided by (used in) operating activities

23,742

57,724

46,919

36,643

-9,455

23,649

-3,034

36,686

7,830

Investing Activities:
Purchases of investments

389,206

327,617

221,096

275,573

382,502

426,011

-

-

-

Proceeds from sales and maturities of investments

394,331

190,942

296,855

205,141

86,363

594,870

-

-

-

(Increase) decrease in loans owned, at amortized cost, net

0

0

37,166

62,024

16,710

18,351

-

-

-

Purchases of real estate capital expenditures

-

-

-

-

2,165

739

-

-

-

Proceeds from the sale of real estate

11,857

17,705

14,035

5,376

92

0

44,021

0

-

Purchases of subsidiaries

-

-

-

-

-

-

-

29,782

-

Purchases of trading securities and loans carried at fair value

-

-

-

-

-

-

204,638

38,438

-

Proceeds from sales of trading securities and loans carried at fair value

-

-

-

-

-

-

75,147

47,795

-

Purchases of available for sale securities

-

-

-

-

-

-

0

9,034

-

Proceeds from sales of available for sale securities

-

-

-

-

-

-

-

12,794

-

Purchases of derivatives

-

-

-

-

-

-

2,146

0

617

Proceeds from derivative transactions

-

-

-

-

-

-

-

-

-1,273

Return of investment in partially owned entities

-

-

-

-

-

-

-

-

46,897

Purchases of real estate

-

-

-

-

-

-

20,939

0

20,800

Purchases of loans

-

-

-

-

-

-

34,802

0

-

Purchases of property, plant and equipment

8,519

3,749

1,747

1,480

4,066

245

13

0

-

Proceeds from the sale of businesses

18,329

15,709

14,089

-

-

-

-

-

-

Proceeds from the sale of subsidiaries

-

-

-

0

142,837

0

-

-

-

Proceeds from notes receivable

36,690

29,234

50,175

36,891

44,342

2,986

-

-

-

Issuance of notes receivable

67,176

31,331

41,861

44,860

32,645

2,816

-

-

-

Proceeds from short U.S. Treasuries

-

-

-

-

-

-

-

19,942

-

Proceeds from Collection of Loans Receivable

-

-

-

-

-

30,040

-

300

2,786

Investments in partially-owned entities

-

-

-

-

-

-

1,519

4,700

-

Proceeds from loan repayments

-

-

-

-

-

-

9,305

336

-

(Increase) decrease in restricted cash

-

-

-

-

11,047

-5,041

5,646

20,749

-

Payments for (Proceeds from) Deposits on Real Estate Acquisitions

-

-

-

-

125

2,077

-

-

-

Business and asset acquisitions, net of cash and deposits (1)

4,633

0

85,826

102,268

78,057

205,102

7,232

116,926

-

Change in noncontrolling interest

-

-

-

-

-

-

0

-

-

Proceeds from foreign exchange

-

-

-

-

-

-

45

0

-

Proceeds from sales and maturities of available for sale securities

-

-

-

-

-

-

0

850

-

Proceeds from Equity Method Investment, Dividends or Distributions, Return of Capital

-

-

-

-

2,275

7,208

2,706

5,305

-

Decrease/(Increase) in policy loans

-

-

-

-

-

-

-

8,758

-

Margin posted for foreign exchange trade

-

-

-

-

-

-

-

77

-

Change due to consolidation of trusts

-

-

-

-

-

-

59

0

-

Investing activities from consolidated CLOs

0

0

-225,317

75,494

-33,613

551,526

537,873

3,226

-

Net cash provided by (used in) investing activities - continuing operations

-

-

-

-

-

-566,722

-683,643

-

-

Net cash provided by (used in) investing activities from discontinued operations

-

-

-

-

-

-2,967

-5,539

-

-

Net cash provided by (used in) investing activities

-8,327

-109,107

212,775

-314,291

-217,795

-569,689

-689,182

-144,214

29,279

Financing Activities:
Capital distributions paid by subsidiaries

-

-

-

-

-

-

2,824

2,566

-

Dividends paid

5,502

4,781

3,499

3,191

3,313

0

366

555

4,116

Non-controlling interest contributions

61

3,150

2,464

3,339

2,163

2,733

-

-

-

Non-controlling interest distributions

3,585

241

2,224

2,998

6,977

-

-

-

-

Non-controlling interest distributions

-

-

-

-

-

-294

-

-

-

Proceeds from (Payments to) Noncontrolling Interests

-

-

-

-

-2,953

-5,499

-

-

-

Fixed asset purchases

-

-

-

-

-

-

-

-

260

Payment of debt issuance costs

586

1,143

9,588

3,830

1,865

775

-

-

-

Distribution payable to Tricadia

-

-

-

-

-

-

-

17,829

-

Proceeds from borrowings and mortgage notes payable

2,237,329

1,632,469

1,857,571

2,085,142

1,442,756

828,471

204,561

118,180

-

Principal paydowns of borrowings and mortgage notes payable

2,181,704

1,617,346

1,816,537

1,957,183

1,190,739

807,897

3,571

0

-

Proceeds from the exercise of options for Common Stock

0

0

8,100

0

0

-

-

-

-

Partial paydown of borrowings

-

-

-

-

-

-

-

18,461

953

Borrowings under mortgage notes payable

-

-

-

-

-

-

-

-

15,498

Payment of placement costs

-

-

-

-

-

-

-

525

264

Proceeds from issuance of common units of subsidiaries

-

-

-

-

-

-

3,741

25,000

-

Repurchases of common stock

9,085

14,111

7,300

43,754

3,982

39

-

72

-

Proceeds from borrowings

-

-

-

-

-

-

-

0

-

Other

-

-

-

-

-

-

-

147

-

Financing activities from consolidated CLOs

0

0

-223,393

199,427

8,573

497,798

529,571

-3,943

-

Net cash provided by financing activities - continuing operations

-

-

-

-

-

514,498

731,112

-

-

Net cash (used in) financing activities - discontinued operations

-

-

-

-

-

-7,667

-6,902

-

-

Net cash provided by (used in) financing activities

36,928

-2,003

-194,406

276,952

243,663

506,831

724,210

99,082

10,165

Net increase (decrease) in cash, cash equivalents and restricted cash

52,343

-53,386

65,288

-696

-

-

-

-

-

Net increase (decrease) in cash, cash equivalents and restricted cash

52,343

-53,386

65,288

-696

-

-

-

-

-

Net increase in cash

-

-

-

-

16,413

-39,209

31,994

-8,446

47,274

Income Taxes Paid

-

-

-

-

38,739

5,167

7,725

1,288

-

Supplemental Schedule of Non-Cash Investing and Financing Activities:
Cash paid during the period for interest expense

26,224

25,976

34,113

27,164

55,077

65,104

43,433

16,914

5,275

Cash (received) paid during the period for income taxes

3,301

-5,088

5,049

6,176

-

-

-

-

-

Right-of-use asset obtained in exchange for lease liability

33,558

-

-

-

-

-

-

-

-

Acquired real estate properties through, or in lieu of, foreclosure of the related loan

2,596

7,367

15,033

15,132

2,289

0

-

-

-

Acquisition of non-controlling interest

2,500

82,190

0

0

-

-

-

-

-

Equity securities acquired through the sale of a subsidiary and asset sales

0

135,675

0

0

-

-

-

-

-

Cancellation of treasury shares

0

33,535

0

0

-

-

-

-

-

Assets of consolidated CLOs deconsolidated due to sale and redemption

0

0

765,603

0

0

-

-

-

-

Liabilities of consolidated CLOs deconsolidated due to sale and redemption

0

0

729,597

0

0

-

-

-

-

Real estate acquired through asset acquisition

0

0

8,178

0

0

-

-

-

-

Seller provided financing related to the sale of subsidiary

0

0

11,000

0

-

-

-

-

-

Notes Issued

-

-

-

-

39,728

5,248

-

-

-

Intangible assets related to in-place leases acquired through asset acquisition

0

0

2,049

0

0

-

-

-

-

Settlement of contingent consideration payable with Common Stock

0

0

4,838

0

0

-

-

-

-

Debt assumed through acquisitions

0

0

7,586

0

52,836

72,771

-

-

-

Reconciliation of cash, cash equivalents and restricted cash shown in the statement of cash flows
Contingent Consideration at Fair Value Recognized

-

-

-

-

2,200

0

-

-

-

Stock Issued

-

-

-

-

11,960

0

-

-

-

Capital change due to equity compensation

-

-

-

-

-

-

2,482

517

-

Net assets related to acquisitions

-

-

-

-

-

-

17,318

0

-

Net liabilities extinguished by sale

-

-

-

-

-

-

79,117

0

-

Modification and cancellation of Operating Partnership Units

-

-

-

-

-

-

-

-

2,293

Stock-based payments

-

-

-

-

-

-

-

-

0

Accrued expenses for financing costs

-

-

-

-

-

-

-

-

0

Warrant issued

-

-

-

-

-

-

-

-

222

Warrant canceled

-

-

-

-

-

-

-

-

222

Noncontrolling interest
Net Income (Loss) Attributable to Noncontrolling Interest

1,761

5,950

1,630

7,018

-

-

-

-

-