$UTGN
UTG INC

2023 Q1 Form 10-K Financial Statement

#000083248023000013 Filed on March 24, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue -$3.035M $33.79M $69.71M
YoY Change -116.01% 269.79% 95.74%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $87.00K $74.68K $311.4K
YoY Change -0.18% -8.95% -4.05%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $174.7K $396.9K $2.033M
YoY Change -46.72% -55.65% -26.29%
% of Gross Profit
Operating Expenses $2.272M $6.290M $10.50M
YoY Change -22.15% 11.47% 47.53%
Operating Profit
YoY Change
Interest Expense $13.92K -$36.69K $108.7K
YoY Change 16.28% 805.93% 2583.83%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$8.833M $22.46M $43.94M
YoY Change -174.46% 543.52% 271.56%
Income Tax -$1.921M $4.657M $9.572M
% Of Pretax Income 20.73% 21.79%
Net Earnings -$6.942M $17.78M $34.26M
YoY Change -175.52% 556.57% 254.53%
Net Earnings / Revenue 52.62% 49.14%
Basic Earnings Per Share -$2.18 $10.81
Diluted Earnings Per Share -$2.18 $5.62 $10.81
COMMON SHARES
Basic Shares Outstanding 3.190M 3.162M 3.168M
Diluted Shares Outstanding 3.189M 3.168M

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $28.28M $45.29M $45.29M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $15.67M $14.42M $14.42M
YoY Change -1.72% -22.86% -22.86%
LONG-TERM ASSETS
Property, Plant & Equipment $34.68M $34.93M $34.93M
YoY Change -11.06% -12.11%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $308.2M $314.9M $314.9M
YoY Change -0.66% 0.19% 0.19%
Other Assets
YoY Change
Total Long-Term Assets $404.0M $433.1M $433.1M
YoY Change -1.18% 3.18% 3.18%
TOTAL ASSETS
Total Short-Term Assets $15.67M $14.42M $14.42M
Total Long-Term Assets $404.0M $433.1M $433.1M
Total Assets $419.6M $447.5M $447.5M
YoY Change -1.2% 2.07% 2.07%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
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 $4.066M $4.189M $4.189M
YoY Change 5360.39%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $19.00M $19.00M
YoY Change -100.0% -20.83% -20.83%
Other Long-Term Liabilities $4.887M $5.958M $5.958M
YoY Change -7.41% 14.71% 14.71%
Total Long-Term Liabilities $4.887M $24.96M $24.96M
YoY Change -68.01% -14.51% -14.51%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.066M $4.189M $4.189M
Total Long-Term Liabilities $4.887M $24.96M $24.96M
Total Liabilities $266.2M $289.5M $290.0M
YoY Change -5.54% -2.59% -2.6%
SHAREHOLDERS EQUITY
Retained Earnings $124.6M $132.0M
YoY Change 35.05%
Common Stock $33.27M $32.70M
YoY Change -0.26%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares $1.330M $1.326M
Shareholders Equity $153.0M $157.6M $157.6M
YoY Change
Total Liabilities & Shareholders Equity $419.6M $447.5M $447.5M
YoY Change -1.2% 2.07% 2.07%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$6.942M $17.78M $34.26M
YoY Change -175.52% 556.57% 254.53%
Depreciation, Depletion And Amortization $174.7K $396.9K $2.033M
YoY Change -46.72% -55.65% -26.29%
Cash From Operating Activities $1.997M -$5.057M -$5.334M
YoY Change -191.76% 126.65% -57.17%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$57.90K $15.38M $26.20M
YoY Change -100.58% -204.04% -245.14%
Cash From Investing Activities -$57.90K $15.38M $26.20M
YoY Change -100.58% -204.04% -245.14%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $685.8K
YoY Change 28.82%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -18.95M 10.18M -6.366M
YoY Change 31.52% -57.01% -128.59%
NET CHANGE
Cash From Operating Activities 1.997M -5.057M -5.334M
Cash From Investing Activities -57.90K 15.38M 26.20M
Cash From Financing Activities -18.95M 10.18M -6.366M
Net Change In Cash -17.01M 20.51M 14.50M
YoY Change 160.75% 207.29% -276.04%
FREE CASH FLOW
Cash From Operating Activities $1.997M -$5.057M -$5.334M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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205 North Depot Street
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UTG, INC.
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DE
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241-6300
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Common Stock, stated value $.001 per share
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Armanino LLP
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AuditorLocation
St. Louis, Missouri
CY2022Q4 utgn Trading Securities At Fair Value
TradingSecuritiesAtFairValue
0
CY2021Q4 utgn Trading Securities At Fair Value
TradingSecuritiesAtFairValue
1116
CY2022 us-gaap Other Than Temporary Impairment Loss Debt Securities Available For Sale Recognized In Earnings
OtherThanTemporaryImpairmentLossDebtSecuritiesAvailableForSaleRecognizedInEarnings
5000000
CY2021 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
1324647
CY2022 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2123831
CY2021Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
17078
CY2022Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
117279820
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
65529
CY2021Q4 utgn Amortized Cost Of Investment In Fixed Maturities Rated Below Investment Grade
AmortizedCostOfInvestmentInFixedMaturitiesRatedBelowInvestmentGrade
0
CY2022Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
9032290
CY2021Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
4042825
CY2021Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
17078
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Number Of Positions
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsNumberOfPositions
57
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Number Of Positions
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerNumberOfPositions
0
CY2022Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Number Of Positions
DebtSecuritiesAvailableForSaleUnrealizedLossPositionNumberOfPositions
57
CY2021Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Number Of Positions
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsNumberOfPositions
3
CY2021Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Number Of Positions
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerNumberOfPositions
0
CY2021Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Number Of Positions
DebtSecuritiesAvailableForSaleUnrealizedLossPositionNumberOfPositions
3
CY2022Q4 us-gaap Equity Securities Without Readily Determinable Fair Value Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueAmount
15683343
CY2021Q4 us-gaap Equity Securities Without Readily Determinable Fair Value Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueAmount
14543343
CY2022Q4 us-gaap Other Than Temporary Impairment Loss Debt Securities Available For Sale Recognized In Earnings
OtherThanTemporaryImpairmentLossDebtSecuritiesAvailableForSaleRecognizedInEarnings
5000000
CY2022Q4 utgn Number Of Securities Other Than Temporary Impairment
NumberOfSecuritiesOtherThanTemporaryImpairment
1
CY2022Q4 utgn Trading Securities Derivative Assets Fair Value Disclosure
TradingSecuritiesDerivativeAssetsFairValueDisclosure
0
CY2022Q4 us-gaap Trading Liabilities Fair Value Disclosure
TradingLiabilitiesFairValueDisclosure
0
CY2021Q4 utgn Trading Securities Derivative Assets Fair Value Disclosure
TradingSecuritiesDerivativeAssetsFairValueDisclosure
1116
CY2021Q4 us-gaap Trading Liabilities Fair Value Disclosure
TradingLiabilitiesFairValueDisclosure
0
CY2022 us-gaap Debt Securities Trading Unrealized Gain Loss
DebtSecuritiesTradingUnrealizedGainLoss
-1086
CY2021 us-gaap Debt Securities Trading Unrealized Gain Loss
DebtSecuritiesTradingUnrealizedGainLoss
2059
CY2022 us-gaap Debt Securities Trading Realized Gain Loss
DebtSecuritiesTradingRealizedGainLoss
-12197
CY2021 us-gaap Debt Securities Trading Realized Gain Loss
DebtSecuritiesTradingRealizedGainLoss
20509
CY2022 us-gaap Debt Securities Trading Gain Loss
DebtSecuritiesTradingGainLoss
-13283
CY2021 us-gaap Debt Securities Trading Gain Loss
DebtSecuritiesTradingGainLoss
22568
CY2022Q4 utgn Mortgage Loans Including Discounted Mortgage Loans
MortgageLoansIncludingDiscountedMortgageLoans
5158911
CY2021Q4 utgn Mortgage Loans Including Discounted Mortgage Loans
MortgageLoansIncludingDiscountedMortgageLoans
20634252
CY2022 utgn Servicing Fee On Loan Percent
ServicingFeeOnLoanPercent
0.0025
CY2022 utgn Loan Origination Percent
LoanOriginationPercent
0.005
CY2022 utgn Loan Limit Threshold To Appraised Property Value
LoanLimitThresholdToAppraisedPropertyValue
0.80
CY2021Q4 us-gaap Mortgage Loans On Real Estate Writedown Or Reserve Amount1
MortgageLoansOnRealEstateWritedownOrReserveAmount1
0
CY2022Q4 us-gaap Mortgage Loans On Real Estate Writedown Or Reserve Amount1
MortgageLoansOnRealEstateWritedownOrReserveAmount1
0
CY2021Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
-57783
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals
-144158
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals
-192212
CY2022Q4 us-gaap Mortgage Loans On Real Estate
MortgageLoansOnRealEstate
30698694
CY2021Q4 us-gaap Mortgage Loans On Real Estate
MortgageLoansOnRealEstate
29183562
CY2021 us-gaap Mortgage Loans On Real Estate Foreclosures
MortgageLoansOnRealEstateForeclosures
0
CY2022 us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
3591885
CY2021 us-gaap Net Investment Income
NetInvestmentIncome
9050325
CY2021 us-gaap Other Than Temporary Impairment Loss Debt Securities Available For Sale Recognized In Earnings
OtherThanTemporaryImpairmentLossDebtSecuritiesAvailableForSaleRecognizedInEarnings
393455
CY2021Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
64712083
CY2022 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Purchases
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchases
15261385
CY2022 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Sales
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetSales
2927549
CY2022Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
97402409
CY2021Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
64712083
CY2022Q4 us-gaap Fair Value Investments Entities That Calculate Net Asset Value Per Share Unfunded Committments
FairValueInvestmentsEntitiesThatCalculateNetAssetValuePerShareUnfundedCommittments
7779867
CY2021Q4 us-gaap Fair Value Investments Entities That Calculate Net Asset Value Per Share Unfunded Committments
FairValueInvestmentsEntitiesThatCalculateNetAssetValuePerShareUnfundedCommittments
5288967
CY2022Q4 us-gaap Deferred Tax Liabilities Investments
DeferredTaxLiabilitiesInvestments
10794061
CY2021Q4 us-gaap Deferred Tax Liabilities Investments
DeferredTaxLiabilitiesInvestments
12159338
CY2022Q4 utgn Deferred Tax Liabilities Value Of Business Acquired
DeferredTaxLiabilitiesValueOfBusinessAcquired
566612
CY2021Q4 utgn Deferred Tax Liabilities Value Of Business Acquired
DeferredTaxLiabilitiesValueOfBusinessAcquired
711165
CY2022Q4 utgn Deferred Tax Assets Management And Consulting Fees
DeferredTaxAssetsManagementAndConsultingFees
8206
CY2021Q4 utgn Deferred Tax Assets Management And Consulting Fees
DeferredTaxAssetsManagementAndConsultingFees
8518
CY2022Q4 utgn Deferred Tax Liabilities Future Policy Benefits
DeferredTaxLiabilitiesFuturePolicyBenefits
-718338
CY2021Q4 utgn Deferred Tax Liabilities Future Policy Benefits
DeferredTaxLiabilitiesFuturePolicyBenefits
-447958
CY2022Q4 us-gaap Deferred Tax Liabilities Investment In Noncontrolled Affiliates
DeferredTaxLiabilitiesInvestmentInNoncontrolledAffiliates
1387490
CY2021Q4 us-gaap Deferred Tax Liabilities Investment In Noncontrolled Affiliates
DeferredTaxLiabilitiesInvestmentInNoncontrolledAffiliates
1387490
CY2022Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
-330488
CY2022Q4 us-gaap Notes Receivable Gross
NotesReceivableGross
22250086
CY2022Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
1326213
CY2022Q4 us-gaap Area Of Real Estate Property
AreaOfRealEstateProperty
8000
CY2022Q4 utgn Rent Paid Per Month
RentPaidPerMonth
2000

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