2013 Form 10-K Financial Statement

#000107262714000026 Filed on March 31, 2014

View on sec.gov

Income Statement

Concept 2013 2012 Q4 2012 Q3
Revenue $172.3M $41.40M $34.80M
YoY Change 7.95% 0.24% -48.96%
Cost Of Revenue $1.843M
YoY Change
Gross Profit $170.4M
YoY Change 6.79%
Gross Profit Margin 98.93%
Selling, General & Admin $79.80M $21.10M $16.80M
YoY Change 7.98% 35.26% -6.67%
% of Gross Profit 46.82%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $3.838M $2.000M -$5.399M
YoY Change 29.88% 233.33% -1179.8%
% of Gross Profit 2.25%
Operating Expenses $206.8M $47.30M $56.48M
YoY Change 3.35% -6.34% -5.23%
Operating Profit -$13.49M -$16.33M
YoY Change -45.14%
Interest Expense $7.263M -$900.0K $1.887M
YoY Change -4.91% -18.18% -211.0%
% of Operating Profit
Other Income/Expense, Net -$12.33M -$2.180M
YoY Change 39.93%
Pretax Income -$43.38M -$9.100M -$21.09M
YoY Change -13.69% -30.0% -341.7%
Income Tax -$67.00K $3.900M -$1.054M
% Of Pretax Income
Net Earnings -$36.86M -$13.70M -$18.87M
YoY Change -29.23% 95.71% -360.19%
Net Earnings / Revenue -21.4% -33.09% -54.22%
Basic Earnings Per Share -$2.61 -$1.52
Diluted Earnings Per Share -$2.61 -$1.038M -$1.52
COMMON SHARES
Basic Shares Outstanding 14.11M shares 13.15M shares 13.15M shares
Diluted Shares Outstanding 14.11M shares 13.15M shares

Balance Sheet

Concept 2013 2012 Q4 2012 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $98.60M $80.81M $60.87M
Short-Term Investments
Other Short-Term Assets $7.900M
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $23.10M $19.90M $29.20M
YoY Change 16.08% -32.31% 135.48%
LONG-TERM ASSETS
Property, Plant & Equipment $1.700M $2.709M $3.323M
YoY Change -37.04% -79.23% -71.6%
Goodwill $8.421M $510.0K
YoY Change 1551.18%
Intangibles $50.58M $39.12M
YoY Change 29.3%
Long-Term Investments $69.80M $41.73M $47.17M
YoY Change -47.12% -14.12% -75.15%
Other Assets $6.300M $8.700M $8.700M
YoY Change -27.59%
Total Long-Term Assets $301.5M $352.9M $312.3M
YoY Change -14.57% 2.38% -19.63%
TOTAL ASSETS
Total Short-Term Assets $23.10M $19.90M $29.20M
Total Long-Term Assets $301.5M $352.9M $312.3M
Total Assets $324.6M $372.8M $341.5M
YoY Change -12.93% -0.34% -14.84%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $36.80M $34.70M $27.40M
YoY Change 6.05% 31.94%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $39.80M $37.60M $27.40M
YoY Change 5.85% 42.97% -32.84%
LONG-TERM LIABILITIES
Long-Term Debt $57.70M $61.20M $61.90M
YoY Change -5.72% 9.29% 10.34%
Other Long-Term Liabilities $48.80M $49.00M $14.00M
YoY Change -0.41% 341.44% 418.52%
Total Long-Term Liabilities $106.5M $110.2M $75.90M
YoY Change -3.36% 64.23% 29.08%
TOTAL LIABILITIES
Total Short-Term Liabilities $39.80M $37.60M $27.40M
Total Long-Term Liabilities $106.5M $110.2M $75.90M
Total Liabilities $289.2M $307.4M $264.2M
YoY Change -6.01% 19.29% -2.5%
SHAREHOLDERS EQUITY
Retained Earnings -$262.1M -$248.4M
YoY Change 30.25%
Common Stock $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $35.50M $65.07M $77.64M
YoY Change
Total Liabilities & Shareholders Equity $324.6M $372.8M $341.5M
YoY Change -12.93% -0.34% -14.84%

Cashflow Statement

Concept 2013 2012 Q4 2012 Q3
OPERATING ACTIVITIES
Net Income -$36.86M -$13.70M -$18.87M
YoY Change -29.23% 95.71% -360.19%
Depreciation, Depletion And Amortization $3.838M $2.000M -$5.399M
YoY Change 29.88% 233.33% -1179.8%
Cash From Operating Activities -$41.81M -$6.000M -$9.800M
YoY Change -10.46% -67.03% -56.25%
INVESTING ACTIVITIES
Capital Expenditures $1.126M -$100.0K -$100.0K
YoY Change 562.35% -80.0% -87.5%
Acquisitions $1.052M $4.900M
YoY Change -107.08%
Other Investing Activities $61.20M $26.00M $11.70M
YoY Change 32.75% 19.82% 178.57%
Cash From Investing Activities $60.03M $26.00M $11.60M
YoY Change 30.49% 22.64% 241.18%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $12.10M
YoY Change 9066.67%
Debt Paid & Issued, Net $1.700M
YoY Change
Cash From Financing Activities -$437.0K 0.000 -4.000M
YoY Change -88.91% 3900.0%
NET CHANGE
Cash From Operating Activities -$41.81M -6.000M -9.800M
Cash From Investing Activities $60.03M 26.00M 11.60M
Cash From Financing Activities -$437.0K 0.000 -4.000M
Net Change In Cash $17.78M 20.00M -2.200M
YoY Change -550.94% 566.67% -88.48%
FREE CASH FLOW
Cash From Operating Activities -$41.81M -$6.000M -$9.800M
Capital Expenditures $1.126M -$100.0K -$100.0K
Free Cash Flow -$42.94M -$5.900M -$9.700M
YoY Change -8.38% -66.67% -55.09%

Facts In Submission

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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:12px;padding-top:12px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">RECENTLY ISSUED ACCOUNTING STANDARDS</font></div><div style="line-height:120%;padding-bottom:12px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">(a)&#160;&#160;&#160;&#160;Adoption of New Accounting Standards:</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In July 2012, the FASB issued ASU 2012-02, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Intangibles-Goodwill and Other (Topic 350): Testing Indefinite-Lived Intangible Assets for Impairment</font><font style="font-family:inherit;font-size:10pt;"> ("ASU 2012-02"). ASU 2012-02 provides entities with an option to first assess qualitative factors to determine whether events or circumstances indicate that it is more likely than not that the indefinite-lived intangible asset is impaired. If an entity concludes that it is more than 50% likely that an indefinite-lived intangible asset is not impaired, no further analysis is required. However, if an entity concludes otherwise, it would be required to determine the fair value of the indefinite-lived intangible asset to measure the amount of actual impairment, if any, as currently required under US GAAP. Effective January 1, 2013, the Company adopted ASU 2012-02 and the adoption did not have an impact on the consolidated financial statements. There have been no triggering events that would suggest possible impairment or that it is more-likely-than-not that the fair values of indefinite-lived intangible assets are less than their carrying amounts. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In February 2013, the FASB issued ASU 2013-02, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income </font><font style="font-family:inherit;font-size:10pt;">("ASU 2013-02"), which is intended to improve the reporting of reclassifications out of accumulated other comprehensive income.&#160; The ASU requires an entity to report, either on the face of the income statement or in the notes to the financial statements, the effect of significant reclassifications out of accumulated other comprehensive income on the respective line items in the income statement if the amount being reclassified is required to be reclassified in its entirety to net income.&#160; For other amounts that are not required to be reclassified in their entirety to net income in the same reporting period, an entity is required to cross-reference other required disclosures that provide additional detail about those amounts.&#160; Effective January 1, 2013, the Company adopted ASU 2013-02. Except for the new disclosure requirements, the adoption of the standard did not have an impact on the consolidated financial statements. The required disclosures are included in Note </font><font style="font-family:inherit;font-size:10pt;">22</font><font style="font-family:inherit;font-size:10pt;">, "</font><font style="font-family:inherit;font-size:10pt;">Accumulated Other Comprehensive Income</font><font style="font-family:inherit;font-size:10pt;">."</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:12px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">(b)&#160;&#160;&#160;&#160;Accounting Standard Not Yet Adopted:</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In July 2013, the FASB issued ASU 2013-11, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists </font><font style="font-family:inherit;font-size:10pt;">("ASU 2013-11"). ASU 2013-11 is effective for the first interim or annual period beginning on or after December 15, 2013 with early adoption permitted. ASU 2013-11 amends ASC Topic 740, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Income Taxes</font><font style="font-family:inherit;font-size:10pt;">, to provide guidance and reduce diversity in practice on the financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. Except for the changes, if any, in the Company's presentation, the initial application of the standard is not expected to have a material impact on the consolidated financial statements.</font></div></div>
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CY2012Q4 us-gaap Liability For Future Policy Benefits And Unpaid Claims And Claims Adjustment Expense
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CY2013Q4 us-gaap Liability For Future Policy Benefits And Unpaid Claims And Claims Adjustment Expense
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CY2012 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Incurred Claims Prior Years
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13800000 USD
CY2013 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Incurred Claims Prior Years
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CY2013Q4 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Net
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CY2013Q4 us-gaap Minority Interest
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CY2013Q4 us-gaap Other Assets
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CY2013 us-gaap Other Comprehensive Income Loss Before Tax
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CY2013 us-gaap Nature Of Operations
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:12px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">BUSINESS</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Kingsway Financial Services Inc. (the "Company" or "Kingsway") was incorporated under the Business Corporations Act (Ontario) on September 19, 1989. Kingsway is a holding company and is primarily engaged, through its subsidiaries, in the property and casualty insurance business.</font></div></div>
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CY2013 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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CY2012 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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CY2013 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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CY2013 us-gaap Other Comprehensive Income Loss Before Tax Portion Attributable To Parent
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1642000 USD
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10000 USD
CY2012 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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CY2013 us-gaap Other Comprehensive Income Loss Tax
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22300000 USD
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0 USD
CY2012 us-gaap Proceeds From Repayments Of Notes Payable
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2703000 USD
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CY2013 us-gaap Payments To Acquire Available For Sale Securities Equity
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1586000 USD
CY2012 us-gaap Payments To Acquire Available For Sale Securities Equity
PaymentsToAcquireAvailableForSaleSecuritiesEquity
0 USD
CY2013 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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CY2012Q4 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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CY2012 us-gaap Payments To Acquire Interest In Subsidiaries And Affiliates
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CY2012 us-gaap Payments To Acquire Other Investments
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CY2013 us-gaap Payments To Acquire Property Plant And Equipment
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1126000 USD
CY2012 us-gaap Payments To Acquire Property Plant And Equipment
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170000 USD
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250000 USD
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CY2013Q4 us-gaap Preferred Stock No Par Value
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109608000 USD
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2459000 USD
CY2013 us-gaap Proceeds From Sale Of Available For Sale Securities Equity
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CY2013 us-gaap Premiums Percentage Assumed To Net
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0
CY2012 us-gaap Premiums Percentage Assumed To Net
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0
CY2013Q4 us-gaap Premiums Receivable Allowance For Doubtful Accounts
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CY2012Q4 us-gaap Premiums Receivable Allowance For Doubtful Accounts
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4040000 USD
CY2012Q4 us-gaap Premiums Receivable At Carrying Value
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CY2013Q4 us-gaap Premiums Receivable At Carrying Value
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CY2012 us-gaap Premiums Written Net
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CY2012Q4 us-gaap Prepaid Reinsurance Premiums
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CY2013Q4 us-gaap Prepaid Reinsurance Premiums
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CY2013 us-gaap Proceeds From Issuance Of Common Stock
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CY2012Q3 us-gaap Proceeds From Issuance Of Debt
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CY2005 us-gaap Proceeds From Issuance Of Long Term Debt
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CY2013 us-gaap Reinsurance Effect On Claims And Benefits Incurred Amount Ceded
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16275000 USD
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CY2012Q4 us-gaap Reinsurance Payable
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CY2013Q4 us-gaap Reinsurance Receivables Incurred But Not Reported Claims
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CY2013Q4 us-gaap Reinsurance Recoverables
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CY2012Q4 us-gaap Reinsurance Recoverables
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CY2013 us-gaap Profit Loss
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1662000 USD
CY2012Q4 us-gaap Property Plant And Equipment Net
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2709000 USD
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CY2012 us-gaap Repayments Of Unsecured Debt
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CY2012 us-gaap Restructuring Charges
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CY2013Q4 us-gaap Restructuring Reserve
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CY2013 us-gaap Revenues
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CY2012 us-gaap Revenues
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CY2012Q4 us-gaap Senior Notes
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CY2004Q1 us-gaap Senior Notes
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CY2012 us-gaap Share Based Compensation
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CY2012Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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386125 shares
CY2011Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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18.35
CY2013Q4 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Exercisable Options
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268125 shares
CY2012Q4 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Exercisable Options
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211125 shares
CY2013Q1 us-gaap Share Price
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0
CY2014Q1 us-gaap Share Price
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CY2013Q4 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Exercise Price Beginning Balance1
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18.46
CY2011Q4 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Exercise Price Beginning Balance1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1
21.02
CY2012Q4 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Exercise Price Beginning Balance1
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19.12
CY2013Q4 us-gaap Short Term Investments
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CY2012Q4 us-gaap Short Term Investments
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38000 USD
CY2013Q4 us-gaap Statutory Accounting Practices Statutory Capital And Surplus Balance
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40647000 USD
CY2013Q4 us-gaap Statutory Accounting Practices Statutory Capital And Surplus Required
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27825000 USD
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14111000 shares
CY2013 us-gaap Statutory Accounting Practices Statutory Capital And Surplus Variations
StatutoryAccountingPracticesStatutoryCapitalAndSurplusVariations
STATUTORY INFORMATION AND POLICIESThe Company's insurance subsidiaries prepare statutory basis financial statements in accordance with accounting practices prescribed or permitted by the Departments of Insurance in states in which they are domiciled. "Prescribed" statutory accounting practices include state laws, regulations and general administrative rules, as well as a variety of publications of the NAIC. "Permitted" statutory accounting practices encompass all accounting practices that are not prescribed. Such practices may differ from state to state; may differ from company to company within a state; and may change in the future. The Company's insurance subsidiaries are required to report results of operations and financial position to insurance regulatory authorities based upon statutory accounting practices. In converting from statutory to U.S. GAAP, typical adjustments include deferral of acquisition costs, the inclusion of statutory non-admitted assets in the balance sheets, the inclusion of net unrealized holding gains or losses related to fixed maturities in shareholders’ equity, and the inclusion of changes in deferred tax assets and liabilities in net loss.Statutory capital and surplus and statutory net loss for the Company's insurance subsidiaries are:(in thousands) December 31,   2013 2012Combined net loss, statutory basis $(3,575) $(19,284)Combined capital and surplus, statutory basis $40,647 $38,308The Company’s insurance subsidiaries are required to hold minimum levels of statutory capital and surplus to satisfy regulatory requirements. The minimum statutory capital and surplus, or company action level RBC, necessary to satisfy regulatory requirements for the Company's insurance subsidiaries collectively was $27.8 million at December 31, 2013. Company action level RBC is the level at which an insurance company is required to file a corrective action plan with its regulators and is equal to 200% of the authorized control level RBC.Dividends paid by insurance subsidiaries are restricted by regulatory requirements of the insurance departments in the subsidiaries' state of domicile. The maximum amount of dividends that can be paid to shareholders by insurance companies without prior approval of the domiciliary state insurance commissioner is generally limited to the greater of (i) 10% of a company's statutory capital and surplus at the end of the previous year or (ii) 100% of the company's net income for the previous year and is generally required to be paid out of an insurance company's unassigned funds.At December 31, 2013, the U.S. insurance subsidiaries of the Company were restricted from making any dividend payments without regulatory approval pursuant to the domiciliary state insurance regulations.
CY2012 us-gaap Statutory Accounting Practices Statutory Net Income Amount
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CY2013 us-gaap Statutory Accounting Practices Statutory Net Income Amount
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199000 USD
CY2012 us-gaap Stock Issued During Period Value Share Based Compensation Forfeited
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205000 USD
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0.00 USD
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524000 USD
CY2012 us-gaap Stock Option Plan Expense
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559000 USD
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CY2013Q4 us-gaap Stockholders Equity
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36920000 USD
CY2011Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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116405000 USD
CY2012Q4 us-gaap Subordinated Debt
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23774000 USD
CY2013Q4 us-gaap Subordinated Debt
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28471000 USD
CY2013Q3 us-gaap Subordinated Debt
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0 USD
CY2013Q1 us-gaap Subsidiary Or Equity Method Investee Cumulative Number Of Shares Issued For All Transactions
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2625000000 shares
CY2012 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
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20316000 USD
CY2011Q4 us-gaap Unrecognized Tax Benefits
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0 USD
CY2013Q4 us-gaap Unrecognized Tax Benefits
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3201000 USD
CY2013 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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14111000 shares
CY2013 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
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0 USD
CY2012 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
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0 USD
CY2013 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
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0 USD
CY2012 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
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0 USD
CY2012 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
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0 USD
CY2013Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
200000 USD
CY2013 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
15884000 USD
CY2013 us-gaap Supplemental Information For Property Casualty Insurance Underwriters Current Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersCurrentYearClaimsAndClaimsAdjustmentExpense
1338000 USD
CY2012 us-gaap Supplemental Information For Property Casualty Insurance Underwriters Paid Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersPaidClaimsAndClaimsAdjustmentExpense
121716000 USD
CY2013 us-gaap Supplemental Information For Property Casualty Insurance Underwriters Paid Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersPaidClaimsAndClaimsAdjustmentExpense
101772000 USD
CY2013 us-gaap Supplemental Information For Property Casualty Insurance Underwriters Premiums Written
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersPremiumsWritten
113631000 USD
CY2012 us-gaap Supplemental Information For Property Casualty Insurance Underwriters Premiums Written
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersPremiumsWritten
115269000 USD
CY2013Q4 us-gaap Supplemental Information For Property Casualty Insurance Underwriters Unearned Premiums
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersUnearnedPremiums
5680000 USD
CY2013Q4 us-gaap Supplementary Insurance Information Unearned Premiums
SupplementaryInsuranceInformationUnearnedPremiums
347000 USD
CY2012Q4 us-gaap Supplementary Insurance Information Unearned Premiums
SupplementaryInsuranceInformationUnearnedPremiums
-112000 USD
CY2012Q4 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
2879000 USD
CY2013Q4 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
2984000 USD
CY2012Q4 us-gaap Unearned Premiums
UnearnedPremiums
45047000 USD
CY2013Q4 us-gaap Unearned Premiums
UnearnedPremiums
48577000 USD
CY2012Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
3026000 USD
CY2013Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
1400000 USD
CY2012Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
1200000 USD
CY2012 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
691000 USD
CY2013 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
0 USD
CY2012 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
2335000 USD
CY2013 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
175000 USD
CY2013 us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
175000 USD
CY2012 us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
3026000 USD
CY2013 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
0 USD
CY2012 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
13149000 shares
CY2012 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
13149000 shares
CY2013 kfs Amortization Of Intangible Assests Not Allocated To Segments
AmortizationOfIntangibleAssestsNotAllocatedToSegments
2186000 USD
CY2012 kfs Amortization Of Intangible Assests Not Allocated To Segments
AmortizationOfIntangibleAssestsNotAllocatedToSegments
959000 USD
CY2012Q4 kfs Debt Instrument Principal Value
DebtInstrumentPrincipalValue
133345000 USD
CY2013Q4 kfs Debt Instrument Principal Value
DebtInstrumentPrincipalValue
119710000 USD
CY2010Q4 kfs Lroc Preferred Units Tendered
LROCPreferredUnitsTendered
1525150 shares
CY2010Q4 kfs Lro Cpreferredpriceperunit
LROCpreferredpriceperunit
20.0
CY2009Q4 kfs Lro Cpreferredpriceperunit
LROCpreferredpriceperunit
17.5
CY2009Q4 kfs Lro Cpreferredunits
LROCpreferredunits
750000 shares
CY2010Q4 kfs Lro Cpreferredunits
LROCpreferredunits
1500000 shares
CY2013Q4 kfs Lro Cpreferredunits
LROCpreferredunits
2333715 shares
CY2012Q4 kfs Remaining Contractual Life Years
RemainingContractualLifeYears
2
CY2013Q4 kfs Remaining Contractual Life Years
RemainingContractualLifeYears
1
CY2013 dei Amendment Flag
AmendmentFlag
false
CY2013 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2013 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2013 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2013
CY2013 dei Document Period End Date
DocumentPeriodEndDate
2013-12-31
CY2013 dei Document Type
DocumentType
10-K
CY2013 dei Entity Central Index Key
EntityCentralIndexKey
0001072627
CY2014Q1 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
16429761 shares
CY2013 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2013 dei Entity Filer Category
EntityFilerCategory
Smaller Reporting Company
CY2013Q2 dei Entity Public Float
EntityPublicFloat
33227916 USD
CY2013 dei Entity Registrant Name
EntityRegistrantName
KINGSWAY FINANCIAL SERVICES INC.
CY2013 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2013 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No

Files In Submission

Name View Source Status
0001072627-14-000026-index-headers.html Edgar Link pending
0001072627-14-000026-index.html Edgar Link pending
0001072627-14-000026.txt Edgar Link pending
0001072627-14-000026-xbrl.zip Edgar Link pending
a10k2013.htm Edgar Link pending
certification3112013q4.htm Edgar Link pending
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kfs-20131231.xml Edgar Link completed
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