← ATLANTIC AMERICAN CORP
| Annual Trend | FY 2015 | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | ||||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||||
| Net loss | $4.4m | $2.6m | $4.5m | ($704k) | ($386k) | $12.2m | $4.3m | $1.5m | ($171k) | ($4.3m) | — | |
| Net Income (Loss) Attributable to Parent | $4.4m |
$2.6m
-39.93%
|
$4.5m
+71.78%
|
($704k)
-115.55%
|
($386k)
+45.17%
|
$12.2m
+3252.59%
|
$4.3m
-64.82%
|
$1.5m
-64.38%
|
($171k)
-111.21%
|
($4.3m)
-2395.91%
|
— | |
| Net Income (Loss) Available to Common Stockholders, Basic | $4.0m |
$2.2m
-43.92%
|
$4.1m
+84.58%
|
($1.1m)
-126.71%
|
($785k)
+28.83%
|
$11.8m
+1599.36%
|
$3.9m
-67.02%
|
$1.1m
-70.99%
|
($570k)
-150.62%
|
($4.7m)
-718.77%
|
— | |
| Depreciation and amortization | $11.4m | $13.1m | $12.1m | $18.6m | $18.3m | $20.4m | $25.0m | $20.2m | $16.9m | $16.7m | $346k | |
| Depreciation, Amortization and Accretion, Net | $1.1m | $1.2m | $1.4m | $987k | $996k | $980k | $1.0m | $890k | $652k | $366k | $346k | |
| Capitalized Computer Software, Amortization | — | — | — | — | — | — | — | $0 | $0 | $0 | — | |
| Deferred Policy Acquisition Costs, Amortization Expense | $10.3m | $11.9m | $10.6m | $17.6m | $17.3m | $19.4m | $24.1m | $19.4m | $16.4m | $16.6m | — | |
| Amortization of deferred acquisition costs | $10.3m | $11.9m | $10.6m | $17.6m | $17.3m | $19.4m | $24.1m | $19.4m | $16.4m | $16.6m | — | |
| Deferred Income Tax Expense (Benefit) | $304k | ($2k) | ($1.4m) | ($2.2m) | ($913k) | ($2.2m) | ($1.1m) | ($1.8m) | ($3.1m) | ($1.7m) | $142k | |
| Payment, Tax Withholding, Share-based Payment Arrangement | — | — | — | $223k | $92k | $91k | $153k | $108k | $12k | $7k | — | |
| Share-based Payment Arrangement, Expense | $365k | $586k | $495k | $244k | $353k | $437k | $211k | $134k | $119k | $11k | $4k | |
| Treasury stock acquired - net employee share-based compensation | — | — | $0 | ($223k) | ($92k) | ($91k) | ($153k) | ($108k) | ($12k) | ($7k) | — | |
| Goodwill and Intangible Asset Impairment | — | — | — | $0 | $0 | $0 | $0 | $0 | $0 | $0 | — | |
| Income (Loss) from Equity Method Investments | — | — | — | — | — | — | — | $241k | ($360k) | ($766k) | — | |
| Losses from equity method investees | — | — | — | — | — | — | $290k | ($241k) | $360k | $766k | — | |
| Changes in operating assets and liabilities: | ||||||||||||
| Increase in receivables, net | $1.3m | ($407k) | ($6.2m) | ($10.2m) | ($4.7m) | $1.3m | $1.5m | $1.1m | ($3.5m) | ($5.6m) | — | |
| Increase (decrease) in accounts payable and accrued expenses | — | — | — | ($2.2m) | $3.5m | $2.3m | ($947k) | $1.0m | ($1.7m) | $6.1m | — | |
| Liability for Unpaid Claims and Claims Adjustment Expense, Incurred Claims | $98.7m | $99.9m | $112.3m | $128.6m | $137.2m | $119.1m | $130.9m | $121.5m | $114.7m | $118.1m | — | |
| Increase (Decrease) in Other Operating Assets | — | ($19k) | ($34k) | $266k | $5.0m | ($1.9m) | $1.4m | $923k | $370k | $2.9m | — | |
| Net Cash Provided by (Used in) Operating Activities | $2.2m |
$1.3m
-40.43%
|
$2.6m
+100.15%
|
$4.5m
+69.32%
|
($1.8m)
-140.52%
|
$9.0m
+596.46%
|
$1.1m
-87.87%
|
$6.5m
+493.11%
|
$2.6m
-59.37%
|
$4.8m
+83.07%
|
$24.8m
+416.90%
|
|
| Cash flows from investing activities: | ||||||||||||
| Payments to Acquire Property, Plant, and Equipment | $322k | $396k | $103k | $281k | $69k | $233k | $107k | $126k | $80k | $225k | ($564k) | |
| Proceeds from investments sold and policy loans redeemed | — | — | $74.5m | $30.1m | $121.0m | $18.5m | $29.2m | $3.9m | $5.0m | $2.6m | $33.2m | |
| Proceeds from investments matured, called or redeemed | $5.9m | $10.9m | $10.8m | $4.9m | $6.2m | $7.1m | $11.5m | $9.8m | $9.7m | $13.8m | $33.2m | |
| Payments to Acquire Investments | $91.7m | $75.1m | $84.6m | $49.6m | $124.0m | $27.5m | $35.3m | $17.0m | $18.1m | $13.8m | ($45.2m) | |
| Investments purchased | ($91.7m) | ($75.1m) | ($84.6m) | ($49.6m) | ($124.0m) | ($27.5m) | ($35.3m) | ($17.0m) | ($18.1m) | ($13.8m) | — | |
| Net Cash Provided by (Used in) Investing Activities | ($1.2m) | ($2.2m) | $10.1m | ($14.8m) | $3.0m | ($2.1m) | $5.3m | ($3.4m) | ($3.4m) | $2.3m | ($12.6m) | |
| Cash flows from financing activities: | ||||||||||||
| Repayments of Long-term Debt | $0 | — | — | — | — | — | — | — | — | — | — | |
| Payments for Repurchase of Common Stock | $997k | $698k | $692k | $597k | $71k | $0 | — | — | — | — | — | |
| Payments of Ordinary Dividends, Common Stock | $412k | $408k | $408k | $407k | $403k | $0 | $408k | $408k | $408k | $408k | ($807k) | |
| Payment of dividends on common stock | ($412k) | ($408k) | ($408k) | ($407k) | ($403k) | $0 | ($408k) | ($408k) | ($408k) | ($408k) | — | |
| Payment of dividends on Series D preferred stock | ($0) | ($0) | ($0) | ($0) | ($0) | ($0) | ($0) | ($0) | ($0) | ($0) | — | |
| Net Cash Provided by (Used in) Financing Activities | ($1.8m) |
($1.5m)
+17.43%
|
($1.5m)
-0.89%
|
($1.6m)
-8.38%
|
($939k)
+40.94%
|
($481k)
+48.78%
|
($954k)
-98.34%
|
$1.1m
+213.73%
|
$181k
-83.32%
|
$186k
+2.76%
|
($811k)
-536.02%
|
|
| Net increase (decrease) in cash | — | ($2.4m) | $11.3m | ($11.9m) | $263k | $6.4m | $5.4m | $4.1m | ($562k) | $7.3m | — | |
| Cash and cash equivalents at beginning of year | $16.4m | $15.6m | $13.3m | $24.5m | $12.9m | $19.3m | $24.8m | $28.9m | $28.3m | $35.6m | $23.0m | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | — | — | — | $12.9m | $19.3m | $24.8m | $28.9m | $28.3m | $35.6m | $34.4m | |
| Additional Supplementary Disclosures | ||||||||||||
| Additional Supplementary Disclosures | ||||||||||||
| Income Tax Expense (Benefit) | $1.3m | $888k | $828k | ($267k) | ($21k) | $3.3m | $1.0m | $571k | ($394k) | ($996k) | — | |
| Operating Lease, Expense | — | — | — | — | $1.0m | $1.0m | $1.0m | $1.0m | $1.0m | $1.0m | — | |
| Additional Financial Items | ||||||||||||
| Equity Securities, FV-NI, Gain (Loss) | — | — | — | ($1.9m) | $6.7m | ($3.3m) | $1.9m | ($7.6m) | ($2.2m) | ($1.5m) | — | |
| Equity Securities, FV-NI, Realized Gain (Loss) | — | — | — | $272k | $1.2m | $87k | $0 | $0 | $0 | $0 | — | |
| Equity Securities, FV-NI, Unrealized Gain (Loss) | — | — | — | ($2.2m) | $5.5m | ($3.4m) | $1.9m | ($7.6m) | ($2.2m) | ($1.5m) | — | |
| Provision for Loan, Lease, and Other Losses | — | — | — | — | — | — | — | — | $26k | ($26k) | — | |
| Realized Investment Gains (Losses) | $4.9m | $2.6m | $9.2m | $5.2m | $1.6m | $7.4m | $4.9m | $30k | $70k | $1.2m | — | |
| Acquisition costs deferred | ($11.2m) | ($13.0m) | ($14.3m) | ($22.0m) | ($19.1m) | ($20.1m) | ($23.2m) | ($23.0m) | ($18.0m) | ($17.6m) | — | |
| Realized investment gains, net | ($4.9m) | ($2.6m) | ($9.2m) | ($5.2m) | ($1.6m) | ($7.4m) | ($4.9m) | ($30k) | ($70k) | ($1.2m) | — | |
| Unrealized losses on equity securities, net | — | — | $0 | $2.2m | ($5.5m) | $3.4m | ($1.9m) | $7.6m | $2.2m | $1.5m | — | |
| Compensation expense related to share awards | $365k | $586k | $495k | $244k | $353k | $437k | $211k | $134k | $119k | $11k | — | |
| (Benefit) provision for credit losses | — | — | — | — | — | — | — | $0 | $26k | ($26k) | — | |
| Increase in insurance reserves and policyholder funds | ($749k) | ($666k) | $10.9m | $15.5m | $12.9m | ($3.2m) | $3.1m | $854k | $9.8m | $12.7m | — | |
| Other, net | ($245k) | $19k | $34k | ($266k) | ($5.0m) | $1.9m | ($1.4m) | ($923k) | ($370k) | ($2.9m) | — | |
| Proceeds from revolving credit facility, net | — | — | — | — | — | — | $0 | $2.0m | $1.0m | $1.0m | — | |
| Supplemental disclosure of cash flow information: | ||||||||||||
| Interest Paid, Excluding Capitalized Interest, Operating Activities | $1.4m | $1.5m | $1.7m | $2.0m | $2.2m | $1.7m | $1.4m | $1.8m | $3.2m | $3.4m | — | |
| Cash paid for income taxes | $1.5m | $675k | $1.4m | $2.1m | $1.7m | $3.9m | $3.2m | $2.8m | $2.6m | $580k | — |