$GBLI
Global Indemnity Group, LLC

2014 Q3 Form 10-Q Financial Statement

#000119312514402870 Filed on November 07, 2014

View on sec.gov

Income Statement

Concept 2014 Q3 2013 Q3
Revenue $75.84M $74.78M
YoY Change 1.42% 1.85%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $800.0K $1.000M
YoY Change -20.0% 150.0%
% of Gross Profit
Operating Expenses $67.60M $66.10M
YoY Change 2.27% 8.9%
Operating Profit
YoY Change
Interest Expense $118.0K $3.585M
YoY Change -96.71% 183.4%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $8.128M $5.056M
YoY Change 60.76% -55.97%
Income Tax -$1.633M -$1.892M
% Of Pretax Income -20.09% -37.42%
Net Earnings $9.761M $6.948M
YoY Change 40.49% -29.91%
Net Earnings / Revenue 12.87% 9.29%
Basic Earnings Per Share $0.39 $0.28
Diluted Earnings Per Share $0.39 $0.28
COMMON SHARES
Basic Shares Outstanding 25.14M shares 25.08M shares
Diluted Shares Outstanding 25.33M shares 25.19M shares

Balance Sheet

Concept 2014 Q3 2013 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $66.62M $116.0M
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
YoY Change
Goodwill $4.820M $4.820M
YoY Change 0.0% 0.0%
Intangibles $17.73M $18.08M
YoY Change -1.95% -1.92%
Long-Term Investments $1.451B $1.433B
YoY Change 1.23% -1.67%
Other Assets $16.80M $6.300M
YoY Change 166.67% 16.67%
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $1.880B $1.918B
YoY Change -2.01% -2.34%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $4.400M $69.90M
YoY Change -93.71% 334.16%
LONG-TERM LIABILITIES
Long-Term Debt $62.30M $20.60M
YoY Change 202.43% -75.74%
Other Long-Term Liabilities $43.10M $32.70M
YoY Change 31.8% 9.0%
Total Long-Term Liabilities $105.4M $53.30M
YoY Change 97.75% -53.61%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.400M $69.90M
Total Long-Term Liabilities $105.4M $53.30M
Total Liabilities $981.7M $1.080B
YoY Change -9.06% -6.69%
SHAREHOLDERS EQUITY
Retained Earnings $455.7M $370.1M
YoY Change 23.1% 9.58%
Common Stock $518.9M $515.5M
YoY Change 0.65% 0.28%
Preferred Stock
YoY Change
Treasury Stock (at cost) $101.2M
YoY Change 0.05%
Treasury Stock Shares
Shareholders Equity $898.1M $838.9M
YoY Change
Total Liabilities & Shareholders Equity $1.880B $1.918B
YoY Change -2.01% -2.34%

Cashflow Statement

Concept 2014 Q3 2013 Q3
OPERATING ACTIVITIES
Net Income $9.761M $6.948M
YoY Change 40.49% -29.91%
Depreciation, Depletion And Amortization $800.0K $1.000M
YoY Change -20.0% 150.0%
Cash From Operating Activities $6.400M $5.800M
YoY Change 10.34% -307.14%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $22.20M -$1.900M
YoY Change -1268.42% -103.29%
Cash From Investing Activities $22.20M -$1.900M
YoY Change -1268.42% -103.29%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -80.30M 700.0K
YoY Change -11571.43% -102.97%
NET CHANGE
Cash From Operating Activities 6.400M 5.800M
Cash From Investing Activities 22.20M -1.900M
Cash From Financing Activities -80.30M 700.0K
Net Change In Cash -51.70M 4.600M
YoY Change -1223.91% -85.3%
FREE CASH FLOW
Cash From Operating Activities $6.400M $5.800M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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7762000
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137355000
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31558000
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25554000
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7578000
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146000
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892000
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102195000
us-gaap Interest Expense
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5939000
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102195000
us-gaap Proceeds From Sale Of Available For Sale Securities Debt
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us-gaap Amortization Of Financing Costs
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us-gaap Cash And Cash Equivalents Period Increase Decrease
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us-gaap Income Tax Expense Benefit
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us-gaap Other Than Temporary Impairment Losses Investments Portion Recognized In Earnings Net Availableforsale Securities
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us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Additions Additional Credit Losses
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us-gaap Current Income Tax Expense Benefit
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gbli Other Than Temporary Impairments On Fixed Maturities
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271000
gbli Income Loss From Segments
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gbli Total Return On Investments
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1537693000
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gbli Other Than Temporary Impairments On Common Stock
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dei Document Type
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10-Q
dei Entity Incorporation State Country Name
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Ireland
dei Entity Registrant Name
EntityRegistrantName
GLOBAL INDEMNITY PLC
dei Trading Symbol
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GBLI
dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
dei Entity Incorporation Date Of Incorporation
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2010-03-09
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2014-09-30
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<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt"> Activity in the liability for unpaid losses and loss adjustment expenses is summarized as follows:</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt"> &#xA0;</p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="92%" align="center" border="0"> <tr> <td width="64%"></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="6" align="center"> <b>Quarters&#xA0;Ended&#xA0;September&#xA0;30,</b></td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="6" align="center"> <b>Nine&#xA0;Months&#xA0;Ended&#xA0;September&#xA0;30,</b></td> <td valign="bottom">&#xA0;</td> </tr> <tr style="FONT-SIZE: 8pt; 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FONT-FAMILY: Times New Roman"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em"> Less: Ceded reinsurance receivables</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">178,998</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">229,815</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">192,491</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">240,546</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid">&#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; TEXT-INDENT: -1em"> Net balance at beginning of period</p> </td> <td valign="bottom"><font style="FONT-SIZE: 8pt">&#xA0;&#xA0;</font></td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">575,597</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom"><font style="FONT-SIZE: 8pt">&#xA0;&#xA0;</font></td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">615,103</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom"><font style="FONT-SIZE: 8pt">&#xA0;</font></td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">586,975</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom"><font style="FONT-SIZE: 8pt">&#xA0;</font></td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">638,568</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em"> Incurred losses and loss adjustment expenses related to:</p> </td> <td valign="bottom"><font style="FONT-SIZE: 8pt">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><font style="FONT-SIZE: 8pt">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><font style="FONT-SIZE: 8pt">&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><font style="FONT-SIZE: 8pt">&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; TEXT-INDENT: -1em"> Current year</p> </td> <td valign="bottom"><font style="FONT-SIZE: 8pt">&#xA0;&#xA0;</font></td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">36,501</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom"><font style="FONT-SIZE: 8pt">&#xA0;&#xA0;</font></td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">37,115</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom"><font style="FONT-SIZE: 8pt">&#xA0;</font></td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">119,464</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom"><font style="FONT-SIZE: 8pt">&#xA0;</font></td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">107,202</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; 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