Tiptree inc. (TIPT)
Income statement / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11
Revenues:
Premiums Earned, Net

499,108

427,837

371,700

229,436

166,265

12,827

0

-

-

Service and administrative fees

106,239

102,315

95,160

109,348

-

-

-

-

-

Ceding commissions

9,608

9,651

8,770

24,784

-

-

-

-

-

Realized gain on derivative instruments, net

-

-

-

-

-

-

-

-

1,079

Change in unrealized (depreciation) appreciation on investments

-

-

-

-

-

-

-

9,129

-77

Change in unrealized (depreciation) appreciation on investments

-

-

-

-

-

-

-

2,308

3,088

Change in unrealized (depreciation)/appreciation - derivatives

-

-

-

-

-

-

-

-

-255

Net realized and unrealized gains on investments

-

-

-

-

-

-

6,887

12,814

-

Rental income

-

-

-

-

-

-

-

-

12,376

Reimbursable income

-

-

-

-

-

-

-

-

1,335

Interest income

-

-

-

-

-

-

11,650

-

765

Net credit derivative losses

-

-

-

-

-

-

-1,828

-

-

Interest income

-

-

-

-

-

-

-

9,938

-

Separate account fees

-

-

-

-

-

-

-

19,875

-

Service and administrative fees

-

-

-

-

106,525

8,657

0

22,995

-

Ceding commissions

-

-

-

-

43,217

3,737

0

-

-

Net investment income

14,017

19,179

16,286

12,981

5,455

279

-

-

-

Gain (Loss) on Investments

83,868

28,782

47,607

87,300

-

-

-

1,377

-

Net realized and unrealized (gains) losses

-

-

-

-

31,469

14,509

-

-

-

Gain on sale of loans held for sale, net

-

-

-

-

-

-

0

-

-

Loan fee income

-

-

-

-

-

-

459

-

-

Rental and related revenue

-

-

-

-

-

20,242

5,760

1,717

-

Other revenue

59,888

38,062

42,275

42,574

39,400

20,062

-

-

-

Total investment income

-

-

-

-

-

-

-

57,395

-

Total revenues

772,728

625,826

581,798

506,423

392,331

80,313

23,743

70,209

-

Expenses:
Policy and Contract Benefits

170,681

152,095

123,959

106,784

86,312

5,829

-

-

-

Change in future policy benefits

-

-

-

-

-

-

-

4,040

-

Mortality expenses

-

-

-

-

-

-

-

9,924

-

Commission expense

303,057

262,460

241,835

147,253

105,751

4,287

0

1,960

-

Employee compensation and benefits

129,479

113,557

115,949

115,612

89,331

32,540

16,741

21,437

-

Interest expense

27,059

27,013

25,562

21,010

16,695

12,541

4,865

8,096

-

Member benefit claims

-

-

-

-

-

-

0

-

-

Net losses and loss adjustment expense

-

-

-

-

-

-

0

-

-

Professional fees

-

-

-

-

-

-

7,137

11,873

-

Total Revenue

-

-

-

-

-

-

-

-

14,476

Base services fees to related party

-

-

-

-

-

-

-

-

409

Incentive fee to related party

-

-

-

-

-

-

-

-

2,441

Marketing, general and administrative (including stock-based compensation of $71, $36, $140 and $105, respectively)

-

-

-

-

-

-

-

-

3,609

Reimbursed property expenses

-

-

-

-

-

-

-

-

1,306

Depreciation and amortization

13,569

12,596

13,841

14,302

30,578

11,945

1,988

2,238

3,611

Acquisition and transaction costs

-

-

-

-

-

-

0

-

-

Other Cost and Expense, Operating

99,744

77,901

74,439

72,576

59,679

31,908

5,610

7,720

-

Total expenses

743,589

645,622

595,585

477,537

388,346

99,050

36,341

67,288

11,376

Net income (loss) before taxes and income attributable to consolidated CLOs from continuing operations

-

-

-

-

-

-

-

2,921

-

Income attributable to consolidated CLOs

0

0

24,903

53,577

23,613

64,681

61,179

71,412

-

Variable Interest Entity, Measure of Activity, Expense

0

0

14,446

33,323

30,502

45,156

32,314

37,883

-

Variable Interest Entity, Measure of Activity, Income or Loss before Tax

0

0

10,457

20,254

-6,889

19,525

28,865

-

-

Other income

-

-

-

-

-

-

815

-

-

Other Income

0

0

10,457

20,254

-6,889

-

-

2,870

-

Net loss attributable to consolidated CLOs

-

-

-

-

-

-

-

33,529

-

Income (loss) before taxes

29,139

-19,796

-3,330

49,140

-2,904

788

16,267

36,450

-

Income Tax Expense (Benefit)

9,017

-5,909

-12,562

12,515

-753

4,141

560

-321

-

Net income (loss) from continuing operations

20,122

-13,887

9,232

36,625

-2,151

-3,353

15,707

36,771

-

Discontinued operations:
Discontinued Operation, Income (Loss) from Discontinued Operation During Phase-out Period, before Income Tax

0

624

-6,222

-5,824

1,260

-

-

2,882

-

Discontinued Operation, Gain (Loss) from Disposal of Discontinued Operation, before Income Tax

0

56,900

0

0

27,220

-

-

0

-

Less: Provision (benefit) for income taxes

0

13,714

-2,224

-1,537

17,527

-

-

0

-

Income from discontinued operations, net

-

-

-

-

-

7,937

9,559

2,882

-

Interest income

-

-

-

-

-

-

-

-

27

Gain on sale of partially-owned entities

-

-

-

-

-

-

-

-

15,327

Interest expense including amortization of deferred financing costs

-

-

-

-

-

-

-

-

5,755

Gain on sale of discontinued operations, net

-

-

-

-

-

0

15,463

-

-

Net income (loss) from discontinued operations

0

43,770

-3,998

-4,287

10,953

7,937

25,022

-

-

Net Income (Loss) Attributable to Parent [Abstract]
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

-

Net Income (Loss) Attributable to Noncontrolling Interest

-

-

-

-

-

-

30,336

26,883

-

Less: Net (loss) income attributable to VIE subordinated noteholders

-

-

-

-

-

-

-

-4,041

-

Net Income (Loss) Attributable to Parent

18,361

23,933

3,604

25,320

5,779

-1,710

10,393

8,729

16,534

Earnings Per Share [Abstract]
Basic:
Basic, continuing operations, net

-

-

-

-

-

-

0.41

0.57

-

Basic, discontinued operations, net

-

-

-

-

-

-

0.60

0.28

-

Basic earnings per share

-

-

-

-

-

-

1.01

0.85

1.63

Diluted:
Diluted, continuing operations, net

-

-

-

-

-

-

0.41

0.57

-

Diluted, discontinued operations, net

-

-

-

-

-

-

0.60

0.28

-

Diluted earnings per share

-

-

-

-

-

-

1.01

0.85

1.60

Weighted average number of Common Shares:
Weighted Average Number of Shares Outstanding, Basic

-

-

-

-

-

-

10,250

10,286

10,154

Weighted Average Number of Shares Outstanding, Diluted

-

-

-

-

-

-

10,250

10,286

10,309

Dividends [Abstract]
Noncontrolling interest
Less: net (loss) income attributable to non-controlling interests

1,761

5,950

1,630

7,018

-

-

-

-

-

Common Stock - Class A
Basic, continuing operations, net

-

-

-

0.88

-

-

-

-

-

Basic, discontinued operations, net

-

-

-

-0.09

-

-

-

-

-

Basic earnings per share

-

-

-

0.79

-

-

-

-

-

Diluted, continuing operations, net

-

-

-

0.86

-

-

-

-

-

Diluted, discontinued operations, net

-

-

-

-0.08

-

-

-

-

-

Diluted earnings per share

-

-

-

0.78

-

-

-

-

-

Basic

-

-

-

31,721

-

-

-

-

-

Diluted

-

-

-

31,766

-

-

-

-

-

Dividends declared per Common Share

-

-

-

0.10

-

-

-

-

-

Common stock
Basic, continuing operations, net

0.52

-0.38

0.22

-

-

-

-

-

-

Basic, discontinued operations, net

0.00

1.07

-0.10

-

-

-

-

-

-

Basic earnings per share

0.52

0.69

0.12

-

-

-

-

-

-

Diluted, continuing operations, net

0.50

-0.38

0.21

-

-

-

-

-

-

Diluted, discontinued operations, net

0.00

1.07

-0.10

-

-

-

-

-

-

Diluted earnings per share

0.50

0.69

0.11

-

-

-

-

-

-

Weighted Average Number of Shares Outstanding, Basic

34,578

34,715

29,134

-

-

-

-

-

-

Weighted Average Number of Shares Outstanding, Diluted

34,578

34,715

37,306

-

-

-

-

-

-

Dividends declared per common share

0.16

0.14

0.12

-

-

-

-

-

-