Company: NODK
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001174947-25-000721
Chunk: 89

Company: NI Holdings, Inc.
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 8
Chunk 89
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): Improvements to Income Tax Disclosures.” This guidance requires that an entity, on an annual basis, disclose
additional income tax information, primarily related to the rate reconciliation and income taxes paid. The guidance is intended to enhance
the transparency and decision usefulness of income tax disclosures. The amendments in this update are effective for annual periods beginning
after December 15, 2024. We are currently evaluating the impact of the new standard on our consolidated financial statements, which is
expected to result in enhanced disclosures.

Disaggregation of Income Statement Expenses

In November 2024, the FASB issued ASU 2024-03, “Income Statement
- Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses.”
This guidance is intended to improve disclosures about a public business entity's expenses and address requests from investors for more
detailed information about the types of expenses in commonly presented expense captions. Such information should allow investors to better
understand an entity's performance, assess future cash flows, and compare performance over time and with other entities. The amendments
will require public business entities to disclose in the notes to the financial statements, at each interim and annual reporting period,
specific information about certain costs and expenses, including purchases of inventory, employee compensation, depreciation, and intangible
asset amortization included in each expense caption presented on the face of the statement of operations, and the total amount of an entity's
selling expenses. The amendments are effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods
beginning after December 15, 2027, and may be applied either prospectively or retrospectively. Early adoption is permitted. The Company
is currently evaluating the impact of adopting this guidance on the consolidated financial statements.

10 

  3.
  Investments

The amortized cost and estimated fair value of fixed income securities,
presented on a consolidated basis as of March 31, 2025, and December 31, 2024, were as follows:

    March 31, 2025 

    Cost or 
Amortized 
Cost  
    Allowance for 
Expected 
Credit Losses  
    Gross
 Unrealized 
Gains  
    Gross 
Unrealized 
Losses  
    Fair Value 
  
    Fixed income securities: 

    U.S. Government and agencies 
    $12,705  
    $—