2022 Q3 Form 10-Q Financial Statement

#000143774922018878 Filed on August 04, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2021 Q4
Revenue $26.03M $27.22M $28.20M
YoY Change 24.14% 23.2% 1027.96%
Cost Of Revenue $5.243M $5.345M
YoY Change 5.9% 1.79%
Gross Profit $20.79M $21.88M
YoY Change 29.77% 29.88%
Gross Profit Margin 79.86% 80.37%
Selling, General & Admin $12.24M $13.59M $14.91M
YoY Change -7.81% -0.2% 1.41%
% of Gross Profit 58.89% 62.13%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $800.0K $800.0K $2.258M
YoY Change -41.0% -27.27% 32.82%
% of Gross Profit 3.85% 3.66%
Operating Expenses $29.43M $24.85M $24.92M
YoY Change 39.61% 16.55% 29.79%
Operating Profit -$3.404M $2.377M
YoY Change 2885.96% 205.53%
Interest Expense $11.85M -$2.894M -$2.102M
YoY Change 691.52% -281.67% 320.4%
% of Operating Profit -121.75%
Other Income/Expense, Net $240.0K -$877.0K -$207.0K
YoY Change -552.83% -68.0% 107.0%
Pretax Income $45.85M -$2.371M -$62.00K
YoY Change -1809.43% -32.53% -98.06%
Income Tax $6.074M -$6.000K -$1.505M
% Of Pretax Income 13.25%
Net Earnings $37.27M -$2.365M $710.0K
YoY Change -16592.48% 823.83% 1.43%
Net Earnings / Revenue 143.2% -8.69% 2.52%
Basic Earnings Per Share $1.67 -$0.12
Diluted Earnings Per Share $1.49 -$0.12 $31.10K
COMMON SHARES
Basic Shares Outstanding 24.14M 22.88M 24.03M
Diluted Shares Outstanding 25.72M 22.88M

Balance Sheet

Concept 2022 Q3 2022 Q2 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $48.60M $11.70M $12.60M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $20.05M $21.04M $20.55M
YoY Change 5.82% 9.78% 1.25%
LONG-TERM ASSETS
Property, Plant & Equipment $106.0M $107.1M $108.6M
YoY Change 14.3% 14.68% 14.28%
Goodwill $100.8M $110.2M $110.2M
YoY Change -1.53% -9.1% 182.68%
Intangibles $101.5M $105.2M $108.2M
YoY Change 1.23% 26.55% 28.64%
Long-Term Investments $59.33M $59.55M $58.79M
YoY Change 2.1% 24.33% -1.53%
Other Assets $26.23M $27.11M $28.19M
YoY Change -3.52% -26.02% -28.46%
Total Long-Term Assets $486.0M $448.6M $455.1M
YoY Change 13.63% 4.73% 5.3%
TOTAL ASSETS
Total Short-Term Assets $20.05M $21.04M $20.55M
Total Long-Term Assets $486.0M $448.6M $455.1M
Total Assets $506.1M $469.6M $475.6M
YoY Change 13.29% 4.95% 5.12%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $55.17M $54.00M $50.10M
YoY Change 24.62% 24.17% 9.63%
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 $57.77M $54.00M $50.39M
YoY Change 29.74% 23.64% 3.69%
LONG-TERM LIABILITIES
Long-Term Debt $283.6M $281.5M $292.7M
YoY Change 4.47% 3.29% 9.1%
Other Long-Term Liabilities $84.43M $91.32M $89.22M
YoY Change -3.53% 3.25% 1.5%
Total Long-Term Liabilities $368.1M $372.8M $381.9M
YoY Change 2.52% 3.28% 7.22%
TOTAL LIABILITIES
Total Short-Term Liabilities $57.77M $54.00M $50.39M
Total Long-Term Liabilities $368.1M $372.8M $381.9M
Total Liabilities $457.1M $454.7M $460.9M
YoY Change 5.56% 5.11% 6.24%
SHAREHOLDERS EQUITY
Retained Earnings -$362.1M -$400.5M -$395.1M
YoY Change -8.52% 1.42% 0.09%
Common Stock $0.00 $0.00 $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $492.0K $492.0K $492.0K
YoY Change 0.0% 0.0% 0.0%
Treasury Stock Shares $247.5K $247.5K $247.5K
Shareholders Equity $28.54M -$5.409M -$5.724M
YoY Change
Total Liabilities & Shareholders Equity $506.1M $469.6M $475.6M
YoY Change 13.29% 4.95% 5.12%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2021 Q4
OPERATING ACTIVITIES
Net Income $37.27M -$2.365M $710.0K
YoY Change -16592.48% 823.83% 1.43%
Depreciation, Depletion And Amortization $800.0K $800.0K $2.258M
YoY Change -41.0% -27.27% 32.82%
Cash From Operating Activities $3.097M $2.405M $2.136M
YoY Change -10.59% -124.95% 64.31%
INVESTING ACTIVITIES
Capital Expenditures -$65.00K -$141.0K
YoY Change -76.62% 41.0%
Acquisitions
YoY Change
Other Investing Activities $35.58M -$1.933M -$11.12M
YoY Change -494.64% 42.97% 344.76%
Cash From Investing Activities $35.75M -$1.998M -$11.26M
YoY Change -488.71% 22.58% 350.4%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -3.242M -3.946M 2.744M
YoY Change 23.74% -136.3% -81.46%
NET CHANGE
Cash From Operating Activities 3.097M 2.405M 2.136M
Cash From Investing Activities 35.75M -1.998M -11.26M
Cash From Financing Activities -3.242M -3.946M 2.744M
Net Change In Cash 35.61M -3.539M -6.380M
YoY Change -526.25% 789.2% -146.91%
FREE CASH FLOW
Cash From Operating Activities $3.097M $2.405M $2.136M
Capital Expenditures -$65.00K -$141.0K
Free Cash Flow $2.470M $2.277M
YoY Change -126.39% 62.64%

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CY2021Q2 kfs Gain Loss On Change In Fair Value Of Limited Liability Investments At Fair Value
GainLossOnChangeInFairValueOfLimitedLiabilityInvestmentsAtFairValue
731000 usd
kfs Gain Loss On Change In Fair Value Of Limited Liability Investments At Fair Value
GainLossOnChangeInFairValueOfLimitedLiabilityInvestmentsAtFairValue
173000 usd
kfs Gain Loss On Change In Fair Value Of Limited Liability Investments At Fair Value
GainLossOnChangeInFairValueOfLimitedLiabilityInvestmentsAtFairValue
529000 usd
CY2022Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-877000 usd
CY2021Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-2741000 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-653000 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-2634000 usd
CY2022Q2 us-gaap Interest Expense Debt
InterestExpenseDebt
1704000 usd
CY2021Q2 us-gaap Interest Expense Debt
InterestExpenseDebt
1593000 usd
us-gaap Interest Expense Debt
InterestExpenseDebt
3068000 usd
us-gaap Interest Expense Debt
InterestExpenseDebt
3145000 usd
CY2022Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1494000 usd
CY2021Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
496000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2988000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
993000 usd
CY2022Q2 us-gaap Fair Value Option Changes In Fair Value Gain Loss1
FairValueOptionChangesInFairValueGainLoss1
-1330000 usd
CY2021Q2 us-gaap Fair Value Option Changes In Fair Value Gain Loss1
FairValueOptionChangesInFairValueGainLoss1
-738000 usd
us-gaap Fair Value Option Changes In Fair Value Gain Loss1
FairValueOptionChangesInFairValueGainLoss1
-3198000 usd
us-gaap Fair Value Option Changes In Fair Value Gain Loss1
FairValueOptionChangesInFairValueGainLoss1
-1757000 usd
CY2022Q2 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 usd
CY2021Q2 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 usd
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 usd
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
2494000 usd
CY2022Q2 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
-4748000 usd
CY2021Q2 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
-4292000 usd
us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
-8460000 usd
us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
-4640000 usd
CY2022Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-2371000 usd
CY2021Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-3514000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-5284000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-3040000 usd
CY2022Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-6000 usd
CY2021Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-3258000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-415000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-3683000 usd
CY2022Q2 us-gaap Profit Loss
ProfitLoss
-2365000 usd
CY2021Q2 us-gaap Profit Loss
ProfitLoss
-256000 usd
us-gaap Profit Loss
ProfitLoss
-4869000 usd
us-gaap Profit Loss
ProfitLoss
643000 usd
CY2022Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
303000 usd
CY2021Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
428000 usd
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
452000 usd
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
687000 usd
CY2022Q2 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
79000 usd
CY2021Q2 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
85000 usd
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
157000 usd
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
323000 usd
CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-2747000 usd
CY2021Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-769000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-5478000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-367000 usd
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.12
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.03
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.24
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.02
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.12
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.03
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.24
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.02
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
22883000
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
22366000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
22883000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
22292000
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
22883000
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
22366000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
22883000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
22292000
CY2022Q2 us-gaap Profit Loss
ProfitLoss
-2365000 usd
CY2021Q2 us-gaap Profit Loss
ProfitLoss
-256000 usd
us-gaap Profit Loss
ProfitLoss
-4869000 usd
us-gaap Profit Loss
ProfitLoss
643000 usd
CY2022Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-535000 usd
CY2021Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-35000 usd
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-1702000 usd
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-110000 usd
CY2022Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
-6000 usd
CY2021Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
-2000 usd
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
-7000 usd
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
-14000 usd
CY2022Q2 us-gaap Other Comprehensive Income Loss Financial Liability Fair Value Option Unrealized Gain Loss Arising During Period Before Tax
OtherComprehensiveIncomeLossFinancialLiabilityFairValueOptionUnrealizedGainLossArisingDuringPeriodBeforeTax
5930000 usd
CY2021Q2 us-gaap Other Comprehensive Income Loss Financial Liability Fair Value Option Unrealized Gain Loss Arising During Period Before Tax
OtherComprehensiveIncomeLossFinancialLiabilityFairValueOptionUnrealizedGainLossArisingDuringPeriodBeforeTax
-3813000 usd
us-gaap Other Comprehensive Income Loss Financial Liability Fair Value Option Unrealized Gain Loss Arising During Period Before Tax
OtherComprehensiveIncomeLossFinancialLiabilityFairValueOptionUnrealizedGainLossArisingDuringPeriodBeforeTax
6889000 usd
us-gaap Other Comprehensive Income Loss Financial Liability Fair Value Option Unrealized Gain Loss Arising During Period Before Tax
OtherComprehensiveIncomeLossFinancialLiabilityFairValueOptionUnrealizedGainLossArisingDuringPeriodBeforeTax
-5534000 usd
CY2022Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
5401000 usd
CY2021Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-3846000 usd
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
5194000 usd
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-5630000 usd
CY2022Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
3036000 usd
CY2021Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
-4102000 usd
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
325000 usd
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
-4987000 usd
CY2022Q2 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
301000 usd
CY2021Q2 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
426000 usd
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
408000 usd
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
682000 usd
CY2022Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
2735000 usd
CY2021Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-4528000 usd
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-83000 usd
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-5669000 usd
CY2022Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
5301000 usd
CY2022Q2 us-gaap Profit Loss
ProfitLoss
-2365000 usd
CY2022Q2 us-gaap Adjustments To Additional Paid In Capital Dividends In Excess Of Retained Earnings
AdjustmentsToAdditionalPaidInCapitalDividendsInExcessOfRetainedEarnings
79000 usd
CY2022Q2 us-gaap Noncontrolling Interest Decrease From Deconsolidation
NoncontrollingInterestDecreaseFromDeconsolidation
244000 usd
CY2022Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
5401000 usd
CY2022Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
269000 usd
CY2022Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
8283000 usd
CY2021Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
11862000 usd
CY2021Q2 us-gaap Profit Loss
ProfitLoss
-256000 usd
CY2021Q2 us-gaap Adjustments To Additional Paid In Capital Dividends In Excess Of Retained Earnings
AdjustmentsToAdditionalPaidInCapitalDividendsInExcessOfRetainedEarnings
85000 usd
CY2021Q2 us-gaap Noncontrolling Interest Decrease From Deconsolidation
NoncontrollingInterestDecreaseFromDeconsolidation
1000 usd
CY2021Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-3846000 usd
CY2021Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
417000 usd
CY2021Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
8091000 usd
CY2021Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
8257000 usd
us-gaap Profit Loss
ProfitLoss
-4869000 usd
us-gaap Adjustments To Additional Paid In Capital Dividends In Excess Of Retained Earnings
AdjustmentsToAdditionalPaidInCapitalDividendsInExcessOfRetainedEarnings
157000 usd
us-gaap Noncontrolling Interest Decrease From Deconsolidation
NoncontrollingInterestDecreaseFromDeconsolidation
697000 usd
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
5194000 usd
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
555000 usd
CY2022Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
8283000 usd
CY2020Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
12159000 usd
us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
0 usd
us-gaap Profit Loss
ProfitLoss
643000 usd
us-gaap Profit Loss
ProfitLoss
643000 usd
kfs Income Loss From Limited Liability Investments
IncomeLossFromLimitedLiabilityInvestments
287000 usd
kfs Income Loss From Limited Liability Investments
IncomeLossFromLimitedLiabilityInvestments
45000 usd
us-gaap Adjustments To Additional Paid In Capital Dividends In Excess Of Retained Earnings
AdjustmentsToAdditionalPaidInCapitalDividendsInExcessOfRetainedEarnings
323000 usd
us-gaap Noncontrolling Interest Decrease From Deconsolidation
NoncontrollingInterestDecreaseFromDeconsolidation
170000 usd
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-5630000 usd
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1412000 usd
CY2021Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
8091000 usd
us-gaap Profit Loss
ProfitLoss
-4869000 usd
us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
4672000 usd
us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
3138000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
628000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
2407000 usd
us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
238000 usd
us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
238000 usd
us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
-48000 usd
us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
-196000 usd
kfs Gain Loss On Change In Fair Value Of Limited Liability Investments At Fair Value
GainLossOnChangeInFairValueOfLimitedLiabilityInvestmentsAtFairValue
173000 usd
kfs Gain Loss On Change In Fair Value Of Limited Liability Investments At Fair Value
GainLossOnChangeInFairValueOfLimitedLiabilityInvestmentsAtFairValue
529000 usd
us-gaap Liabilities Fair Value Adjustment
LiabilitiesFairValueAdjustment
-3198000 usd
us-gaap Liabilities Fair Value Adjustment
LiabilitiesFairValueAdjustment
-1757000 usd
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
276000 usd
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-73000 usd
us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
1502000 usd
us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
0 usd
us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
693000 usd
us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
1052000 usd
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-141000 usd
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-88000 usd
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
-496000 usd
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
-430000 usd
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-0 usd
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
2494000 usd
kfs Increase Decrease In Service Fee Receivables Net Adjusted For Assets Acquired
IncreaseDecreaseInServiceFeeReceivablesNetAdjustedForAssetsAcquired
1828000 usd
kfs Increase Decrease In Service Fee Receivables Net Adjusted For Assets Acquired
IncreaseDecreaseInServiceFeeReceivablesNetAdjustedForAssetsAcquired
1567000 usd
us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
-1378000 usd
us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
-2653000 usd
kfs Increase Decrease In Deferred Contract Costs
IncreaseDecreaseInDeferredContractCosts
1687000 usd
kfs Increase Decrease In Deferred Contract Costs
IncreaseDecreaseInDeferredContractCosts
271000 usd
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-261000 usd
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
10786000 usd
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
2104000 usd
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
501000 usd
us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
2861000 usd
us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
-5552000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
6246000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-11508000 usd
us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
4906000 usd
us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
2894000 usd
us-gaap Proceeds From Sale Of Equity Securities Fv Ni
ProceedsFromSaleOfEquitySecuritiesFvNi
0 usd
us-gaap Proceeds From Sale Of Equity Securities Fv Ni
ProceedsFromSaleOfEquitySecuritiesFvNi
23000 usd
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
8111000 usd
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
3952000 usd
us-gaap Proceeds From Sale Of Equity Method Investments
ProceedsFromSaleOfEquityMethodInvestments
973000 usd
us-gaap Proceeds From Sale Of Equity Method Investments
ProceedsFromSaleOfEquityMethodInvestments
168000 usd
kfs Payments For Proceeds From Limited Liability Investments At Fair Value
PaymentsForProceedsFromLimitedLiabilityInvestmentsAtFairValue
-211000 usd
kfs Payments For Proceeds From Limited Liability Investments At Fair Value
PaymentsForProceedsFromLimitedLiabilityInvestmentsAtFairValue
-13188000 usd
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
83000 usd
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
50000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
177000 usd
kfs Percentage Of Proceeds From Increased Rental Payments
PercentageOfProceedsFromIncreasedRentalPayments
0.20 pure
CY2022Q2 us-gaap Cash
Cash
3600000 usd
CY2022Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
11700000 usd
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-62000 usd
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-89000 usd
kfs Proceeds From Payments For Sale And Maturity Of Other Investments
ProceedsFromPaymentsForSaleAndMaturityOfOtherInvestments
34000 usd
kfs Proceeds From Payments For Sale And Maturity Of Other Investments
ProceedsFromPaymentsForSaleAndMaturityOfOtherInvestments
6000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
506000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-2185000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
11860000 usd
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
697000 usd
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
170000 usd
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
-0 usd
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
323000 usd
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
3952000 usd
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
2161000 usd
us-gaap Proceeds From Bank Debt
ProceedsFromBankDebt
0 usd
us-gaap Proceeds From Bank Debt
ProceedsFromBankDebt
13270000 usd
us-gaap Repayments Of Senior Debt
RepaymentsOfSeniorDebt
3115000 usd
us-gaap Repayments Of Senior Debt
RepaymentsOfSeniorDebt
11280000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-7764000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-664000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-3703000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-312000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
29899000 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
44945000 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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26196000 usd
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
44633000 usd
us-gaap Nature Of Operations
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<table border="0" cellpadding="0" cellspacing="0" style="font-family: Times New Roman; font-size: 10pt; width: 100%;"><tbody><tr><td colspan="9" style="border-bottom:solid 1px #000000;vertical-align:bottom;width:auto;"> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b><a href="#" id="Notes" title="Notes"/></b></p></td></tr> </tbody></table><p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"/> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"><b>NOTE <em style="font: inherit;">1</em> BUSINESS </b></p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Kingsway Financial Services Inc. (the "Company" or "Kingsway") was incorporated under the Business Corporations Act (Ontario) on <em style="font: inherit;"> September 19, 1989. </em>Effective <em style="font: inherit;"> December 31, 2018 </em>the Company changed its jurisdiction of incorporation from the province of Ontario, Canada, to the State of Delaware. Kingsway is a holding company with operating subsidiaries located in the United States. The Company owns or controls subsidiaries primarily in the extended warranty, business services, asset management and real estate industries.</p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"> </p>
us-gaap Basis Of Accounting
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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><b>NOTE <em style="font: inherit;">2</em> BASIS OF PRESENTATION</b></p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"> </p> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt;">The accompanying unaudited consolidated interim financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") for interim financial information and with the instructions to Form <em style="font: inherit;">10</em>-Q and Article <em style="font: inherit;">10</em> of Regulation S-<em style="font: inherit;">X.</em> Accordingly, they do <em style="font: inherit;">not</em> include all of the information and notes required by U.S. GAAP for complete financial statements of the Company. In the opinion of management, all adjustments necessary for a fair presentation have been included and are of a normal recurring nature. Interim results are <em style="font: inherit;">not</em> necessarily indicative of the results that <em style="font: inherit;"> may </em>be expected for the year.</p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"> </p> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt;">The accompanying unaudited consolidated interim financial statements and footnotes should be read in conjunction with the audited consolidated financial statements and footnotes included within our Annual Report on Form <em style="font: inherit;">10</em>-K ("<em style="font: inherit;">2021</em> Annual Report") for the year ended <em style="font: inherit;"> December 31, 2021</em>.</p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"> </p> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt;">The unaudited consolidated interim financial statements include the accounts of the Company and its subsidiaries, as well as certain variable interest entities as further described in Note <em style="font: inherit;">5,</em> "Variable Interest Entities," to the consolidated financial statements in the <em style="font: inherit;">2021</em> Annual Report. All material intercompany transactions and balances have been eliminated in consolidation.</p> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt;"> </p> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt;"><span style="background-color:#ffffff;">Certain amounts in the unaudited consolidated interim financial statements as of and for the </span><em style="font: inherit;">three</em> and <em style="font: inherit;">six</em> months ended <em style="font: inherit;"> June 30, 2021</em><span style="background-color:#ffffff;"> have been reclassified in order to conform to the </span><em style="font: inherit;">2022</em><span style="background-color:#ffffff;"> presentation.</span></p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"> </p> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt;">The preparation of consolidated financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts and classifications of assets and liabilities, revenues and expenses, and the related disclosures of contingent assets and liabilities in the consolidated financial statements and accompanying notes. Actual results could differ from these estimates. Estimates and their underlying assumptions are reviewed on an ongoing basis. Changes in estimates are recorded in the accounting period in which they are determined.</p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">The critical accounting estimates and assumptions in the accompanying unaudited consolidated interim financial statements include the valuation of fixed maturities and equity investments; impairment assessment of investments; valuation of limited liability investments, at fair value; valuation of real estate investments; valuation of deferred income taxes; accounting for business combinations and asset acquisitions; valuation and impairment assessment of intangible assets; goodwill recoverability<span style="background-color:#ffffff;">; deferred contract costs;</span> fair value assumptions for subordinated debt obligations; fair value assumptions for subsidiary stock-based compensation awards; contingent consideration and revenue recognition.</p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">The fair values of the Company's investments in fixed maturities and equity investments, limited liability investments, at fair value, real estate investments, subordinated debt, stock-based compensation liabilities, derivative contracts and contingent consideration are estimated using a fair value hierarchy to categorize the inputs it uses in valuation techniques. Fair values for other investments approximate their unpaid principal balance. The carrying amounts reported in the consolidated balance sheets approximate fair values for cash and cash equivalents, restricted cash, short-term investments and certain other assets and other liabilities because of their short-term nature.</p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"> </p>
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CY2022Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2022Q2 kfs Gain Loss On Change In Fair Value Of Limited Liability Investments At Fair Value
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CY2022Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2022Q2 us-gaap Income Tax Expense Benefit
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CY2022Q2 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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CY2021Q2 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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CY2022Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
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CY2022Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
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FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
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CY2021Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
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CY2022Q2 us-gaap Equity Method Investments Fair Value Disclosure
EquityMethodInvestmentsFairValueDisclosure
15573000 usd
CY2021Q4 us-gaap Equity Method Investments Fair Value Disclosure
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CY2021Q1 us-gaap Loss Contingency Estimate Of Possible Loss
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72000000 usd
CY2021Q1 us-gaap Loss Contingency Estimate Of Possible Loss
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CY2020Q1 us-gaap Litigation Settlement Amount Awarded To Other Party
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CY2020Q1 kfs Litigation Settlement Reimbursable Percentage Of Future Losses
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CY2020Q4 us-gaap Payments For Legal Settlements
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CY2021Q3 us-gaap Payments For Legal Settlements
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100000 usd
CY2022Q1 us-gaap Payments For Legal Settlements
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CY2018Q4 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Reported Claims Amount
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2500000 usd
CY2018Q4 us-gaap Escrow Deposit
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CY2021Q4 kfs Short Term Investments Fair Value Disclosure
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CY2022Q2 us-gaap Restricted Cash
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14500000 usd
CY2021Q4 us-gaap Restricted Cash
RestrictedCash
17300000 usd

Files In Submission

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kfs20220630_10q.htm Edgar Link pending
0001437749-22-018878-index-headers.html Edgar Link pending
0001437749-22-018878-index.html Edgar Link pending
0001437749-22-018878.txt Edgar Link pending
0001437749-22-018878-xbrl.zip Edgar Link pending
ex_375016.htm Edgar Link pending
ex_375017.htm Edgar Link pending
ex_375018.htm Edgar Link pending
ex_375019.htm Edgar Link pending
ex_405061.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
kfs-20220630.xsd Edgar Link pending
kfs-20220630_cal.xml Edgar Link unprocessable
kfs-20220630_def.xml Edgar Link unprocessable
kfs-20220630_lab.xml Edgar Link unprocessable
kfs-20220630_pre.xml Edgar Link unprocessable
kfs20220630_10q_htm.xml Edgar Link completed
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R1.htm Edgar Link pending
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R12.htm Edgar Link pending
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