Company: TIPT
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0001393726-25-000028
Chunk: 135

Company: TIPTREE INC.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 8
Chunk 135
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020 Total non-controlling interests199,073 159,699 Total stockholders’ equity656,771 576,565 Total liabilities and stockholders’ equity$5,694,789 $5,139,313 

See accompanying notes to consolidated financial statements. 

F-5

TIPTREE INC. AND SUBSIDIARIESConsolidated Statements of Operations(in thousands, except share data)

For the Year Ended December 31,202420232022Revenues:Earned premiums, net$1,471,930 $1,127,834 $904,765 Service and administrative fees405,193 395,969 320,720 Ceding commissions15,384 14,915 13,880 Net investment income32,976 26,674 12,219 Net realized and unrealized gains (losses)50,569 24,736 69,983 Other revenue66,802 58,903 76,185 Total revenues2,042,854 1,649,031 1,397,752 Expenses:Policy and contract benefits841,207 601,794 452,605 Commission expense648,819 603,033 522,686 Employee compensation and benefits204,355 179,075 182,657 Interest expense32,248 27,692 30,240 Depreciation and amortization21,653 23,466 22,973 Other expenses145,253 130,918 132,580 Total expenses1,893,535 1,565,978 1,343,741 Income (loss) before taxes149,319 83,053 54,011 Less: provision (benefit) for income taxes61,652 43,056 50,450 Net income (loss)87,667 39,997 3,561 Less: net income (loss) attributable to non-controlling interests34,300 26,046 11,835 Net income (loss) attributable to common stockholders$53,367 $13,951 $(8,274)Net income (loss) per common share:Basic earnings per share$1.44 $0.38 $(0.23)Diluted earnings per share$1.30 $0.33 $(0.23)Weighted average number of common shares:Basic36,872,