Company: NODK
Filing Date: 2025-03-07
Form Type: 10-K
Source: 0001174947-25-000304
Chunk: 742

Company: NI Holdings, Inc.
Filing Date: 2025-03-07
Form: 10-K
Item: Item 1C
Chunk 742
---
 employee stock ownership plan shares 
     —  
     122  
     243  
     —  
     —  
     —  
     —  
     365 
  
    Balance, December 31, 2024 
    $230  
    $95,796  
    $(455) 
    $201,584  
     (18,231) 
     (34,293) 
     —  
    $244,631 

The accompanying notes are an integral part of these consolidated financial
statements. 

52 

NI Holdings, Inc.

Consolidated Statements of Cash Flows

Years Ended December 31, 2024, 2023, and 2022

(dollar amounts in thousands) 

    2024 
    2023 
    2022
  
    Cash flows from operating activities: 

    Net loss 
    $(6,060) 
    $(5,226) 
    $(53,775)
  
    Less net loss from discontinued operations, net of income taxes 
     (1,512) 
     (25,057) 
     (15,090)
  
    Adjustments to reconcile net loss to net cash flows from operating activities: 

    Net investment gains 
     (2,213) 
     (1,929) 
     11,975 
  
    Deferred income tax expense (benefit) 
     1,901  
     (1,876) 
     (3,825)
  
    Depreciation of property and equipment 
     681  
     692  
     604 
  
    Amortization of intangibles 
     —  
     33  
     50 
  
    Goodwill impairment charge 
     2,628  
     —  
     — 
  
    Distribution of employee stock ownership plan shares 
     365  
     322  
     380 
  
    Share-based compensation 
     238  
     1,366  
     (40)
  
    Amortization of deferred policy acquisition costs 
     71,257  
     67,631  
     53,605 
  
    Deferral of policy acquisition costs 
     (70,767) 
     (71,746) 
     (57,233