2024 Q3 Form 10-Q Financial Statement

#000162828024044321 Filed on October 30, 2024

View on sec.gov

Income Statement

Concept 2024 Q3
Revenue $305.7M
YoY Change 165.13%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $51.50M
YoY Change 51.03%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $5.200M
YoY Change 92.59%
% of Gross Profit
Operating Expenses $271.3M
YoY Change 81.71%
Operating Profit $34.40M
YoY Change -201.18%
Interest Expense -$11.60M
YoY Change -198.31%
% of Operating Profit -33.72%
Other Income/Expense, Net
YoY Change
Pretax Income $22.80M
YoY Change -149.78%
Income Tax $0.00
% Of Pretax Income 0.0%
Net Earnings $22.80M
YoY Change -149.78%
Net Earnings / Revenue 7.46%
Basic Earnings Per Share $1.45
Diluted Earnings Per Share $1.35
COMMON SHARES
Basic Shares Outstanding 15.00M shares
Diluted Shares Outstanding 16.90M shares

Balance Sheet

Concept 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $683.4M
YoY Change 7.13%
Cash & Equivalents $674.8M
Short-Term Investments $8.600M
Other Short-Term Assets $37.80M
YoY Change 4.71%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $37.80M
YoY Change 4.71%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $270.6M
YoY Change 60.21%
Other Assets $9.600M
YoY Change 166.67%
Total Long-Term Assets $1.524B
YoY Change 26.58%
TOTAL ASSETS
Total Short-Term Assets $37.80M
Total Long-Term Assets $1.524B
Total Assets $1.562B
YoY Change 25.94%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $64.00M
YoY Change 33.89%
Accrued Expenses $7.600M
YoY Change -3.8%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $71.60M
YoY Change 28.55%
LONG-TERM LIABILITIES
Long-Term Debt $293.3M
YoY Change 1.0%
Other Long-Term Liabilities $110.1M
YoY Change 90.48%
Total Long-Term Liabilities $403.4M
YoY Change 15.85%
TOTAL LIABILITIES
Total Short-Term Liabilities $71.60M
Total Long-Term Liabilities $403.4M
Total Liabilities $1.268B
YoY Change 33.32%
SHAREHOLDERS EQUITY
Retained Earnings -$1.704B
YoY Change 0.76%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $181.9M
YoY Change
Total Liabilities & Shareholders Equity $1.562B
YoY Change 25.94%

Cashflow Statement

Concept 2024 Q3
OPERATING ACTIVITIES
Net Income $22.80M
YoY Change -149.78%
Depreciation, Depletion And Amortization $5.200M
YoY Change 92.59%
Cash From Operating Activities $49.40M
YoY Change 238.36%
INVESTING ACTIVITIES
Capital Expenditures $2.400M
YoY Change 20.0%
Acquisitions
YoY Change
Other Investing Activities -$37.40M
YoY Change 648.0%
Cash From Investing Activities -$39.80M
YoY Change 468.57%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.000M
YoY Change 566.67%
NET CHANGE
Cash From Operating Activities 49.40M
Cash From Investing Activities -39.80M
Cash From Financing Activities -2.000M
Net Change In Cash 7.600M
YoY Change 4.11%
FREE CASH FLOW
Cash From Operating Activities $49.40M
Capital Expenditures $2.400M
Free Cash Flow $47.00M
YoY Change 273.02%

Facts In Submission

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CY2024Q3 us-gaap Comprehensive Income Net Of Tax
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CY2023Q3 us-gaap Comprehensive Income Net Of Tax
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us-gaap Comprehensive Income Net Of Tax
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us-gaap Comprehensive Income Net Of Tax
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us-gaap Earnings Per Share Basic
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us-gaap Earnings Per Share Basic
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1.35
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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 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
14500000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
14800000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
14400000 shares
CY2024Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
16900000 shares
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
14500000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
16800000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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14400000 shares
CY2024Q2 us-gaap Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
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112000000.0 usd
CY2024Q2 us-gaap Stockholders Equity
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151300000 usd
CY2024Q3 us-gaap Net Income Loss
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22800000 usd
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5500000 usd
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CY2024Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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CY2024Q3 us-gaap Temporary Equity Shares Outstanding
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CY2024Q3 us-gaap Temporary Equity Carrying Amount Attributable To Parent
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112000000.0 usd
CY2024Q3 us-gaap Stockholders Equity
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112000000.0 usd
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12700000 usd
root Apic Share Based Payment Arrangement Increase For Cost Recognition Warrants
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3800000 usd
us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
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TemporaryEquitySharesOutstanding
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CY2024Q3 us-gaap Temporary Equity Carrying Amount Attributable To Parent
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112000000.0 usd
CY2024Q3 us-gaap Stockholders Equity
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181900000 usd
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TemporaryEquitySharesOutstanding
14100000 shares
CY2023Q2 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
112000000.0 usd
CY2023Q2 us-gaap Stockholders Equity
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214400000 usd
CY2023Q3 us-gaap Net Income Loss
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CY2023Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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CY2023Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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4700000 usd
CY2023Q3 root Apic Share Based Payment Arrangement Increase For Cost Recognition Warrants
APICShareBasedPaymentArrangementIncreaseForCostRecognitionWarrants
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CY2023Q3 us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
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500000 usd
CY2022Q4 us-gaap Temporary Equity Shares Outstanding
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CY2022Q4 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
112000000.0 usd
CY2022Q4 us-gaap Stockholders Equity
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277100000 usd
us-gaap Net Income Loss
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us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-800000 usd
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TemporaryEquitySharesOutstanding
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CY2023Q3 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
112000000.0 usd
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us-gaap Share Based Compensation
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us-gaap Depreciation Amortization And Accretion Net
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8200000 usd
us-gaap Premium Receivable Credit Loss Expense Reversal
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10600000 usd
root Gain Loss On Lease Modification
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0 usd
root Gain Loss On Lease Modification
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300000 usd
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us-gaap Increase Decrease In Reinsurance Recoverable
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35300000 usd
us-gaap Increase Decrease In Reinsurance Recoverable
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us-gaap Increase Decrease In Prepaid Reinsurance Premiums
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us-gaap Increase Decrease In Other Operating Assets
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us-gaap Increase Decrease In Liability For Claims And Claims Adjustment Expense Reserve
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us-gaap Increase Decrease In Unearned Premiums
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82400000 usd
us-gaap Increase Decrease In Reinsurance Payables
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us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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9600000 usd
us-gaap Increase Decrease In Other Operating Liabilities
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22300000 usd
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us-gaap Payments To Develop Software
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7100000 usd
us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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us-gaap Nature Of Operations
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<span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:28.5pt">NATURE OF BUSINESS</span><div style="margin-bottom:9pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Root, Inc. is a holding company which, directly or indirectly, maintains 100% ownership of each of its subsidiaries, including, among others, Root Insurance Company and Root Property &amp; Casualty Insurance Company, both Ohio-domiciled insurance companies, and Root Reinsurance Company, Ltd., a Cayman Islands-domiciled reinsurance company, together with Root, Inc., “we,” “us” or “our.” </span></div>We were formed in 2015 and began writing personal auto insurance in July 2016. We are a technology company operating primarily a direct-to-consumer model with the majority of our personal insurance customers acquired through mobile apps. We offer auto and renters insurance products underwritten by Root Insurance Company and Root Property &amp; Casualty Insurance Company.
us-gaap Use Of Estimates
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<div style="margin-bottom:9pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Use of Estimates</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">—The preparation of the unaudited condensed consolidated financial statements requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the unaudited condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates reflected in our unaudited condensed consolidated financial statements include, but are not limited to, reserves for loss and loss adjustment expense, or LAE, valuation allowances for income taxes and allowance for expected credit losses on premium receivables and reinsurance recoverables.</span></div>
CY2024Q3 us-gaap Cash And Cash Equivalents At Carrying Value
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674800000 usd
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
678700000 usd
CY2024Q3 us-gaap Restricted Cash
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1000000.0 usd
CY2023Q4 us-gaap Restricted Cash
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1000000.0 usd
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
675800000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
679700000 usd
CY2023Q4 us-gaap Deferred Policy Acquisition Costs
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18000000.0 usd
CY2022Q4 us-gaap Deferred Policy Acquisition Costs
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6700000 usd
us-gaap Deferred Policy Acquisition Costs Additions
DeferredPolicyAcquisitionCostsAdditions
32300000 usd
us-gaap Deferred Policy Acquisition Costs Additions
DeferredPolicyAcquisitionCostsAdditions
28500000 usd
us-gaap Deferred Policy Acquisition Cost Amortization Expense
DeferredPolicyAcquisitionCostAmortizationExpense
23800000 usd
us-gaap Deferred Policy Acquisition Cost Amortization Expense
DeferredPolicyAcquisitionCostAmortizationExpense
20400000 usd
CY2024Q3 us-gaap Deferred Policy Acquisition Costs
DeferredPolicyAcquisitionCosts
26500000 usd
CY2023Q3 us-gaap Deferred Policy Acquisition Costs
DeferredPolicyAcquisitionCosts
14800000 usd
us-gaap Number Of Reportable Segments
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272700000 usd
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CY2024Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
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CY2024Q3 us-gaap Available For Sale Securities Debt Securities
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274800000 usd
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CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
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CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
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3200000 usd
CY2023Q4 us-gaap Available For Sale Securities Debt Securities
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166800000 usd
CY2024Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
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CY2024Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
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CY2024Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
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49700000 usd
CY2024Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
1500000 usd
CY2024Q3 us-gaap Debt Securities Available For Sale Unrealized Loss Position
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CY2024Q3 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
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1500000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
36100000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
100000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
72300000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
3100000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
108400000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
3200000 usd
CY2023Q4 us-gaap Other Investments
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4400000 usd
CY2024Q3 us-gaap Other Investments
OtherInvestments
4400000 usd
us-gaap Gain Loss On Sale Of Other Investments
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CY2023Q3 us-gaap Gain Loss On Sale Of Other Investments
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us-gaap Gain Loss On Sale Of Other Investments
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CY2024Q3 us-gaap Gain Loss On Sale Of Other Investments
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CY2024Q3 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
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37000000.0 usd
CY2024Q3 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
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36900000 usd
CY2024Q3 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost
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174200000 usd
CY2024Q3 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
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175800000 usd
CY2024Q3 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Amortized Cost
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30200000 usd
CY2024Q3 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Fair Value
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30800000 usd
CY2024Q3 us-gaap Available For Sale Securities Debt Maturities After Ten Years Amortized Cost
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31300000 usd
CY2024Q3 us-gaap Available For Sale Securities Debt Maturities After Ten Years Fair Value
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31300000 usd
CY2024Q3 us-gaap Available For Sale Debt Securities Amortized Cost Basis
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272700000 usd
CY2024Q3 us-gaap Available For Sale Securities Debt Securities
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274800000 usd
CY2024Q3 us-gaap Gross Investment Income Operating
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11300000 usd
CY2023Q3 us-gaap Gross Investment Income Operating
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9300000 usd
us-gaap Gross Investment Income Operating
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31600000 usd
us-gaap Gross Investment Income Operating
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23100000 usd
CY2024Q3 us-gaap Investment Income Investment Expense
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3300000 usd
CY2023Q3 us-gaap Investment Income Investment Expense
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300000 usd
us-gaap Investment Income Investment Expense
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4400000 usd
us-gaap Investment Income Investment Expense
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CY2024Q3 us-gaap Net Investment Income
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8000000.0 usd
CY2023Q3 us-gaap Net Investment Income
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9000000.0 usd
us-gaap Net Investment Income
NetInvestmentIncome
27200000 usd
us-gaap Net Investment Income
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22500000 usd
CY2024Q3 us-gaap Available For Sale Debt Securities Amortized Cost Basis
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272700000 usd
CY2024Q3 us-gaap Available For Sale Securities Debt Securities
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274800000 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
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169300000 usd
CY2023Q4 us-gaap Available For Sale Securities Debt Securities
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166800000 usd
CY2024Q3 us-gaap Cash And Cash Equivalents Fair Value Disclosure
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CY2024Q3 us-gaap Assets Fair Value Disclosure
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691400000 usd
CY2023Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
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CY2023Q4 us-gaap Assets Fair Value Disclosure
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us-gaap Schedule Of Liability For Unpaid Claims And Claims Adjustment Expense
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<div style="margin-bottom:9pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following provides a reconciliation of the beginning and ending reserve balances for loss and LAE, net of reinsurance:</span></div><div style="margin-bottom:12pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.842%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.441%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.843%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Nine Months Ended September 30,</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2024</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2023</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(dollars in millions)</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Gross loss and LAE reserves, January 1</span></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">284.2 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">287.4 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Reinsurance recoverable on unpaid losses</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(43.8)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(76.4)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Net loss and LAE reserves, January 1</span></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">240.4 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">211.0 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Net incurred loss and LAE related to:</span></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Current year</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">549.1 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">209.2 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Prior years</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(7.9)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(0.6)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Total incurred</span></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">541.2 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">208.6 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Net paid loss and LAE related to:</span></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Current year</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">293.2 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">87.4</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Prior years</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">146.3 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">117.3</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Total paid</span></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">439.5 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">204.7 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Net loss and LAE reserves, September 30</span></div></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">342.1 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">214.9 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Plus reinsurance recoverable on unpaid losses</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">50.3 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">41.6 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Gross loss and LAE reserves, September 30</span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">392.4 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">256.5 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div>
CY2023Q4 us-gaap Liability For Claims And Claims Adjustment Expense
LiabilityForClaimsAndClaimsAdjustmentExpense
284200000 usd
CY2022Q4 us-gaap Liability For Claims And Claims Adjustment Expense
LiabilityForClaimsAndClaimsAdjustmentExpense
287400000 usd
CY2023Q4 us-gaap Reinsurance Recoverable For Unpaid Claims And Claims Adjustments
ReinsuranceRecoverableForUnpaidClaimsAndClaimsAdjustments
43800000 usd
CY2022Q4 us-gaap Reinsurance Recoverable For Unpaid Claims And Claims Adjustments
ReinsuranceRecoverableForUnpaidClaimsAndClaimsAdjustments
76400000 usd
CY2023Q4 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Net
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseNet
240400000 usd
CY2022Q4 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Net
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseNet
211000000.0 usd
us-gaap Supplemental Information For Property Casualty Insurance Underwriters Current Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersCurrentYearClaimsAndClaimsAdjustmentExpense
549100000 usd
us-gaap Supplemental Information For Property Casualty Insurance Underwriters Current Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersCurrentYearClaimsAndClaimsAdjustmentExpense
209200000 usd
us-gaap Supplemental Information For Property Casualty Insurance Underwriters Prior Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersPriorYearClaimsAndClaimsAdjustmentExpense
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us-gaap Supplemental Information For Property Casualty Insurance Underwriters Prior Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersPriorYearClaimsAndClaimsAdjustmentExpense
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us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Incurred Claims1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseIncurredClaims1
541200000 usd
us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Incurred Claims1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseIncurredClaims1
208600000 usd
us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid Current Year1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseClaimsPaidCurrentYear1
293200000 usd
us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid Current Year1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseClaimsPaidCurrentYear1
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us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid Prior Years1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseClaimsPaidPriorYears1
146300000 usd
us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid Prior Years1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseClaimsPaidPriorYears1
117300000 usd
us-gaap Payments For Losses And Loss Adjustment Expense
PaymentsForLossesAndLossAdjustmentExpense
439500000 usd
us-gaap Payments For Losses And Loss Adjustment Expense
PaymentsForLossesAndLossAdjustmentExpense
204700000 usd
CY2024Q3 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Net
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseNet
342100000 usd
CY2023Q3 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Net
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseNet
214900000 usd
CY2024Q3 us-gaap Reinsurance Recoverable For Unpaid Claims And Claims Adjustments
ReinsuranceRecoverableForUnpaidClaimsAndClaimsAdjustments
50300000 usd
CY2023Q3 us-gaap Reinsurance Recoverable For Unpaid Claims And Claims Adjustments
ReinsuranceRecoverableForUnpaidClaimsAndClaimsAdjustments
41600000 usd
CY2024Q3 us-gaap Liability For Claims And Claims Adjustment Expense
LiabilityForClaimsAndClaimsAdjustmentExpense
392400000 usd
CY2023Q3 us-gaap Liability For Claims And Claims Adjustment Expense
LiabilityForClaimsAndClaimsAdjustmentExpense
256500000 usd
us-gaap Supplemental Information For Property Casualty Insurance Underwriters Prior Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersPriorYearClaimsAndClaimsAdjustmentExpense
-7900000 usd
us-gaap Supplemental Information For Property Casualty Insurance Underwriters Prior Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersPriorYearClaimsAndClaimsAdjustmentExpense
-600000 usd
CY2024Q3 us-gaap Direct Premiums Written
DirectPremiumsWritten
270900000 usd
CY2023Q3 us-gaap Direct Premiums Written
DirectPremiumsWritten
192700000 usd
us-gaap Direct Premiums Written
DirectPremiumsWritten
793900000 usd
us-gaap Direct Premiums Written
DirectPremiumsWritten
444600000 usd
CY2024Q3 us-gaap Assumed Premiums Written
AssumedPremiumsWritten
60800000 usd
CY2023Q3 us-gaap Assumed Premiums Written
AssumedPremiumsWritten
31500000 usd
us-gaap Assumed Premiums Written
AssumedPremiumsWritten
176700000 usd
us-gaap Assumed Premiums Written
AssumedPremiumsWritten
59300000 usd
CY2024Q3 us-gaap Ceded Premiums Written
CededPremiumsWritten
27100000 usd
CY2023Q3 us-gaap Ceded Premiums Written
CededPremiumsWritten
22300000 usd
us-gaap Ceded Premiums Written
CededPremiumsWritten
118400000 usd
us-gaap Ceded Premiums Written
CededPremiumsWritten
159400000 usd
CY2024Q3 us-gaap Premiums Written Net
PremiumsWrittenNet
304600000 usd
CY2023Q3 us-gaap Premiums Written Net
PremiumsWrittenNet
201900000 usd
us-gaap Premiums Written Net
PremiumsWrittenNet
852200000 usd
us-gaap Premiums Written Net
PremiumsWrittenNet
344500000 usd
CY2024Q3 us-gaap Direct Premiums Earned
DirectPremiumsEarned
258600000 usd
CY2023Q3 us-gaap Direct Premiums Earned
DirectPremiumsEarned
141600000 usd
us-gaap Direct Premiums Earned
DirectPremiumsEarned
739700000 usd
us-gaap Direct Premiums Earned
DirectPremiumsEarned
381900000 usd
CY2024Q3 us-gaap Assumed Premiums Earned
AssumedPremiumsEarned
58400000 usd
CY2023Q3 us-gaap Assumed Premiums Earned
AssumedPremiumsEarned
18200000 usd
us-gaap Assumed Premiums Earned
AssumedPremiumsEarned
160300000 usd
us-gaap Assumed Premiums Earned
AssumedPremiumsEarned
39500000 usd
CY2024Q3 us-gaap Ceded Premiums Earned
CededPremiumsEarned
37700000 usd
CY2023Q3 us-gaap Ceded Premiums Earned
CededPremiumsEarned
59800000 usd
us-gaap Ceded Premiums Earned
CededPremiumsEarned
128800000 usd
us-gaap Ceded Premiums Earned
CededPremiumsEarned
197500000 usd
CY2024Q3 us-gaap Premiums Earned Net
PremiumsEarnedNet
279300000 usd
CY2023Q3 us-gaap Premiums Earned Net
PremiumsEarnedNet
100000000.0 usd
us-gaap Premiums Earned Net
PremiumsEarnedNet
771200000 usd
us-gaap Premiums Earned Net
PremiumsEarnedNet
223900000 usd
CY2024Q3 root Liability For Unpaid Claims And Claims Adjustment Expense Incurred Claims Gross
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseIncurredClaimsGross
168200000 usd
CY2023Q3 root Liability For Unpaid Claims And Claims Adjustment Expense Incurred Claims Gross
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseIncurredClaimsGross
106800000 usd
root Liability For Unpaid Claims And Claims Adjustment Expense Incurred Claims Gross
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseIncurredClaimsGross
504000000.0 usd
root Liability For Unpaid Claims And Claims Adjustment Expense Incurred Claims Gross
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseIncurredClaimsGross
297100000 usd
CY2024Q3 root Liability For Unpaid Claims And Claims Adjustment Expense Incurred Claims Assumed
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseIncurredClaimsAssumed
39100000 usd
CY2023Q3 root Liability For Unpaid Claims And Claims Adjustment Expense Incurred Claims Assumed
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseIncurredClaimsAssumed
13400000 usd
root Liability For Unpaid Claims And Claims Adjustment Expense Incurred Claims Assumed
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseIncurredClaimsAssumed
115700000 usd
root Liability For Unpaid Claims And Claims Adjustment Expense Incurred Claims Assumed
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseIncurredClaimsAssumed
29800000 usd
CY2024Q3 root Liability For Unpaid Claims And Claims Adjustment Expense Incurred Claims Ceded
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseIncurredClaimsCeded
22800000 usd
CY2023Q3 root Liability For Unpaid Claims And Claims Adjustment Expense Incurred Claims Ceded
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root Liability For Unpaid Claims And Claims Adjustment Expense Incurred Claims Ceded
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseIncurredClaimsCeded
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root Liability For Unpaid Claims And Claims Adjustment Expense Incurred Claims Ceded
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CY2024Q3 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Incurred Claims1
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CY2023Q3 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Incurred Claims1
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us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Incurred Claims1
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us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Incurred Claims1
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CY2024Q3 us-gaap Interest Payable Current And Noncurrent
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CY2023Q4 us-gaap Interest Payable Current And Noncurrent
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CY2024Q3 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
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CY2023Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
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CY2024Q3 us-gaap Long Term Debt
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CY2023Q4 us-gaap Long Term Debt
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0
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EffectiveIncomeTaxRateContinuingOperations
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us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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us-gaap Allocated Share Based Compensation Expense
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us-gaap Allocated Share Based Compensation Expense
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CY2024Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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CY2023Q3 us-gaap Allocated Share Based Compensation Expense
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4700000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
12700000 usd
us-gaap Allocated Share Based Compensation Expense
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CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
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us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
123600000 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
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CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
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CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
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CY2024Q3 us-gaap Net Income Loss
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CY2023Q3 us-gaap Net Income Loss
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us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Net Income Loss
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CY2024Q3 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
1100000 usd
CY2023Q3 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
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0 usd
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
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us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
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CY2024Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
21700000 usd
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
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us-gaap Net Income Loss Available To Common Stockholders Basic
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us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2024Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2024Q3 us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
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CY2023Q3 us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
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us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
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CY2024Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2024Q3 us-gaap Earnings Per Share Basic
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1.45
CY2024Q3 us-gaap Earnings Per Share Basic
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CY2023Q3 us-gaap Earnings Per Share Basic
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us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.56
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.56
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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CY2023Q3 us-gaap Earnings Per Share Diluted
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us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.52
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-8.57
CY2024Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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7800000 shares
CY2023Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7800000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
10700000 shares
CY2024Q3 us-gaap Premiums Written Gross
PremiumsWrittenGross
331700000 usd
CY2023Q3 us-gaap Premiums Written Gross
PremiumsWrittenGross
224200000 usd
us-gaap Premiums Written Gross
PremiumsWrittenGross
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us-gaap Premiums Written Gross
PremiumsWrittenGross
503900000 usd
CY2024Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

Files In Submission

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root-20240930.htm Edgar Link pending
root-20240930.xsd Edgar Link pending
root-20240930_def.xml Edgar Link unprocessable
Show.js Edgar Link pending
root-20240930_pre.xml Edgar Link unprocessable
root-20240930_htm.xml Edgar Link completed
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0001628280-24-044321-index.html Edgar Link pending
0001628280-24-044321.txt Edgar Link pending
0001628280-24-044321-xbrl.zip Edgar Link pending
a101firstamendmenttotermlo.htm Edgar Link pending
a102secondamendmenttoterml.htm Edgar Link pending
a103amendedandrestatedboar.htm Edgar Link pending
a311certificationofprincip.htm Edgar Link pending
a312certificationofprincip.htm Edgar Link pending
a321certificationofprincip.htm Edgar Link pending
a45firstamendmenttoformofc.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
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FilingSummary.xml Edgar Link unprocessable
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root-20240930_cal.xml Edgar Link unprocessable
root-20240930_lab.xml Edgar Link unprocessable