Company: TIPT
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0001393726-25-000028
Chunk: 26

Company: TIPTREE INC.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 7
Chunk 26
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 CapitalInsuranceMortgageOtherCorporateTotalTotal assets$5,432,987 $202,664 $36,818 $22,320 $5,694,789 Corporate debt$310,000 $— $— $— $310,000 Asset based debt63,699 68,394 — — 132,093 Tiptree Inc. stockholders’ equity (1)$426,412 $55,928 $35,893 $(60,535)$457,698 Non-controlling interests:Fortegra preferred interests77,679 — — — 77,679 Common interests121,394 — — — 121,394 Total stockholders’ equity$625,485 $55,928 $35,893 $(60,535)$656,771 

(1)    Included in Corporate equity is the deferred tax liability on the outside basis on Tiptree’s investment in Fortegra of $84.7 million as of December 31, 2024. 

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NON-GAAP MEASURES AND RECONCILIATIONSNon-GAAP ReconciliationsIn addition to GAAP results, management uses the non-GAAP financial measures underwriting and fee revenues and underwriting and fee margin in order to better explain to investors the underwriting performance and the respective retentions between the Company and its agents and reinsurance partners. We also use the non-GAAP financial measures adjusted net income and adjusted return on average equity as measures of operating performance and as part of our resource and capital allocation process, to assess comparative returns on invested capital. Management believes these measures provide supplemental information useful to investors as they are frequently used by the financial community to analyze financial performance and to compare relative performance among comparable companies. Adjusted net income, adjusted return on average equity, underwriting and fee revenues and underwriting and fee margin are not measurements of financial performance or liquidity under GAAP and should not be considered as an alternative or substitute for earned premiums, net income or any other measure derived in accordance with GAAP.Underwriting and Fee Revenues and Underwriting and Fee Margin — Non-GAAP (Insurance only)Underwriting and Fee Revenues — Non-GAAP — We define underwriting and fee revenues as earned premiums, net, service and administrative fees (excluding ceding fees) and other income (excluding cash and cash equivalent interest income). We reconcile underwriting and fee revenues as total revenues excluding