2023 Q4 Form 10-Q Financial Statement

#000155837023018843 Filed on November 13, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $197.8M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $1.721M
YoY Change -13.52%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $2.624B
YoY Change 55.64%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities
Total Long-Term Liabilities
Total Liabilities $2.602B
YoY Change 58.08%
SHAREHOLDERS EQUITY
Retained Earnings -$67.36M
YoY Change 26.44%
Common Stock $4.000K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $175.0K
YoY Change 0.0%
Treasury Stock Shares
Shareholders Equity $3.704M
YoY Change
Total Liabilities & Shareholders Equity $2.624B
YoY Change 55.64%

Cashflow Statement

Concept 2023 Q4 2023 Q3

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Mortgage Servicing Rights Msr Impairment Recovery
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us-gaap Derivatives Reporting Of Derivative Activity
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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;text-align:justify;margin:0pt 0pt 12pt 0pt;">Derivative Instruments</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:0pt;margin:0pt 0pt 12pt 0pt;">Derivatives are used to hedge the risks experienced in our ongoing operations, such as equity, interest rate and cash flow risks, or for other risk management purposes, which primarily involve managing liability risks associated with our indexed annuity products and reinsurance agreements. Derivatives are financial instruments whose values are derived from interest rates, foreign exchange rates, financial indices, or other underlying notional amounts. Derivative assets and liabilities are carried at fair value on the consolidated balance sheets. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:0pt;margin:0pt 0pt 12pt 0pt;">To qualify for hedge accounting, at the inception of the hedging relationship, the Company must formally document our designation of the hedge as a cash flow or fair value hedge and our risk management objective and strategy for undertaking the hedging transaction. In this documentation, we would identify how the hedging instrument is expected to hedge the designated risks related to the hedged item, the method that would be used to retrospectively and prospectively assess the hedging instrument’s effectiveness and the method which would be used to measure ineffectiveness. A derivative designated as a hedging instrument must be assessed as being highly effective in offsetting the designated risk of the hedged item. Hedge effectiveness would be formally assessed at inception and periodically throughout the life of the designated hedging relationship. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:0pt;margin:0pt 0pt 12pt 0pt;">During the last quarter of 2020, the Company began investing in futures to hedge the fluctuations in various aspects of our business. The formal documentation and hedge effectiveness was not completed at the date we entered into those futures contracts; therefore, they do not qualify for hedge accounting. The change in fair market values of these futures were recorded on our Consolidated Statements of Comprehensive Loss as realized gains or (losses). </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:0pt;margin:0pt 0pt 12pt 0pt;">Additionally, reinsurance agreements written on an FW or Modco basis contain embedded derivatives on our annuity products. Gains or (losses) associated with the performance of assets maintained in the modified coinsurance deposit and funds withheld custody accounts are reflected as realized (losses) or gains in the Consolidated Statements of Comprehensive Loss.</p>
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us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Earnings Per Share Basic
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us-gaap Earnings Per Share Basic
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us-gaap Earnings Per Share Diluted
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us-gaap Earnings Per Share Diluted
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CY2023Q3 mdwt Mortgage Loans On Real Estate Amortized Cost
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us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain
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us-gaap Derivative Instruments Not Designated As Hedging Instruments Loss
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CY2023Q3 us-gaap Derivative Assets
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mdwt Equity Securities Gross Unrealized Losses
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CY2023Q3 us-gaap Equity Securities Fv Ni
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CY2023Q3 mdwt Other Investments Allowance For Credit Losses
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mdwt Other Investments Gross Unrealized Loss
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CY2023Q3 us-gaap Other Investments
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CY2023Q3 mdwt Investment In Preferred Stock Gross Unrealized Losses
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CY2023Q3 mdwt Investment In Preferred Stock Fair Value
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CY2023Q3 mdwt Deposits And Notes Receivable Fair Value Disclosure
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mdwt Policy Loans
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mdwt Policy Loans
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CY2023Q3 mdwt Investments Available For Sale Amortized Cost
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CY2022 mdwt Policy Loans
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mdwt Mortgage Loans On Real Estate Allowance For Credit Losses Expense Reversals
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CY2023Q3 mdwt Mortgage Loans On Real Estate Allowance For Credit Losses
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mdwt Other Investments Allowance For Credit Losses Expense Reversal
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mdwt Investments Allowance For Credit Losses Expense Reversal
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CY2023Q3 mdwt Investments Allowance For Credit Losses
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CY2023Q2 mdwt Mortgage Loans On Real Estate Allowance For Credit Losses
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CY2023Q3 mdwt Mortgage Loans On Real Estate Allowance For Credit Losses Expense Reversals
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CY2023Q3 mdwt Mortgage Loans On Real Estate Allowance For Credit Losses
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CY2023Q3 mdwt Other Investments Allowance For Credit Losses Expense Reversal
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CY2023Q3 mdwt Other Investments Allowance For Credit Losses
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CY2023Q3 mdwt Investments Allowance For Credit Losses Expense Reversal
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CY2023Q3 mdwt Investments Allowance For Credit Losses
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CY2023Q3 mdwt Available For Sale Securities Debt Maturities After Twenty Years Amortized Cost
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42059000
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33314000
CY2023Q3 us-gaap Available For Sale Debt Securities Amortized Cost Basis
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CY2023Q3 us-gaap Available For Sale Securities Debt Securities
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CY2022Q4 mdwt Assets On Deposits Fair Value
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CY2023Q3 us-gaap Mortgage Loans On Real Estate
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CY2022Q4 us-gaap Mortgage Loans On Real Estate
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us-gaap Mortgage Servicing Rights Msr Impairment Recovery
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CY2022 us-gaap Mortgage Servicing Rights Msr Impairment Recovery
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CY2023Q3 us-gaap Mortgage Loans On Real Estate
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CY2022Q4 us-gaap Mortgage Loans On Real Estate
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CY2022Q3 us-gaap Net Investment Income
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us-gaap Net Investment Income
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us-gaap Net Investment Income
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CY2022Q3 mdwt Investment Income Investment Expense Net Of Refund
InvestmentIncomeInvestmentExpenseNetOfRefund
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mdwt Investment Income Investment Expense Net Of Refund
InvestmentIncomeInvestmentExpenseNetOfRefund
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mdwt Investment Income Investment Expense Net Of Refund
InvestmentIncomeInvestmentExpenseNetOfRefund
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CY2023Q3 mdwt Investment Expenses Amount Charged To Reinsurers
InvestmentExpensesAmountChargedToReinsurers
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CY2022Q3 mdwt Investment Expenses Amount Charged To Reinsurers
InvestmentExpensesAmountChargedToReinsurers
17736000
mdwt Investment Expenses Amount Charged To Reinsurers
InvestmentExpensesAmountChargedToReinsurers
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mdwt Investment Expenses Amount Charged To Reinsurers
InvestmentExpensesAmountChargedToReinsurers
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CY2023Q3 mdwt Investment Income Less Investment Expenses
InvestmentIncomeLessInvestmentExpenses
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CY2022Q3 mdwt Investment Income Less Investment Expenses
InvestmentIncomeLessInvestmentExpenses
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mdwt Investment Income Less Investment Expenses
InvestmentIncomeLessInvestmentExpenses
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mdwt Investment Income Less Investment Expenses
InvestmentIncomeLessInvestmentExpenses
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CY2022Q3 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
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us-gaap Proceeds From Sale Of Available For Sale Securities Debt
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us-gaap Proceeds From Sale Of Available For Sale Securities Debt
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CY2023Q3 us-gaap Debt Securities Available For Sale Realized Gain
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CY2022Q3 us-gaap Debt Securities Available For Sale Realized Gain
DebtSecuritiesAvailableForSaleRealizedGain
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us-gaap Debt Securities Available For Sale Realized Gain
DebtSecuritiesAvailableForSaleRealizedGain
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us-gaap Debt Securities Available For Sale Realized Gain
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CY2023Q3 mdwt Unrealized Gains Losses On Investments Assets Of Third Party Reinsurers Retained By Entity
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mdwt Unrealized Gains Losses On Investments Assets Of Third Party Reinsurers Retained By Entity
UnrealizedGainsLossesOnInvestmentsAssetsOfThirdPartyReinsurersRetainedByEntity
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mdwt Unrealized Gains Losses On Investments Assets Of Third Party Reinsurers Retained By Entity
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us-gaap Debt And Equity Securities Unrealized Gain Loss
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CY2022Q4 us-gaap Escrow Deposit
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CY2022Q4 us-gaap Financial Instruments Owned Mortgages Mortgage Backed And Asset Backed Securities At Fair Value
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CY2022 us-gaap Mortgage Servicing Rights Msr Impairment Recovery
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CY2023Q3 us-gaap Mortgage Loans On Real Estate
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CY2023Q3 mdwt Deposits And Notes Receivable Fair Value Disclosure
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mdwt Policy Loans
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CY2023Q3 mdwt Investments Available For Sale Fair Value Disclosure
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CY2023Q3 mdwt Embedded Derivative Liability Fair Value Disclosure
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CY2022Q4 us-gaap Mortgage Loans On Real Estate
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CY2022Q4 mdwt Preferred Stock Of Non Affiliated Company
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CY2022Q4 mdwt Embedded Derivative Liability Fair Value Disclosure
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CY2021Q4 us-gaap Deposit Contracts Liabilities
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mdwt Deposits Contract Us Alliance
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mdwt Ceded Commission Earned
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CY2022Q4 mdwt Reinsurance Recoverable On Benefit Reserve
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CY2022Q4 us-gaap Reinsurance Recoverables
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CY2022Q3 mdwt Ceded Commission Earned
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mdwt Interest On Ceding Commissions
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mdwt Ceded Commission Earned
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mdwt Expense Allowances
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mdwt Interest On Ceding Commissions
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CY2022Q4 mdwt Deferred Gain On Coinsurance Transaction
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CY2022Q4 mdwt Contingency Reserves
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CY2023Q3 us-gaap Investments
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CY2023Q3 us-gaap Investments
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CY2022Q4 us-gaap Investments
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CY2023Q3 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2023Q3 us-gaap Premiums Receivable At Carrying Value
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CY2023Q3 mdwt Reinsurance Recoverables And Premiums Receivable
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CY2023Q3 mdwt Reinsurance Recoverables And Premiums Receivable
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CY2022Q4 mdwt Reinsurance Recoverables And Premiums Receivable
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CY2023Q3 mdwt Receivables For Securities Sold
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CY2023Q3 us-gaap Assets
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CY2023Q3 us-gaap Assets
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CY2023Q3 us-gaap Assets
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