Company: TIPT
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0001393726-25-000028
Chunk: 180

Company: TIPTREE INC.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 8
Chunk 180
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 the gross notional and fair value amounts of derivatives (on a gross basis) categorized by underlying risk:As of December 31, 2024As of December 31, 2023NotionalvaluesAsset derivativesLiabilityderivativesNotionalvaluesAsset derivativesLiabilityderivativesInterest rate lock commitments$105,898 $2,257 $— $129,675 $3,818 $— Forward delivery contracts26,090 33 54 19,675 9 98 TBA mortgage-backed securities133,200 811 115 139,000 104 815 Fortegra Additional Warrants (Warburg)(1)— — 10,958 — — 3,522 Other— — — 24,346 52 68 Total$265,188 $3,101 $11,127 $312,696 $3,983 $4,503 (1)           See Note (17) Stockholders' Equity for additional information.

F-38

TIPTREE INC. AND SUBSIDIARIESNotes to Consolidated Financial StatementsDecember 31, 2024(in thousands, except share data)

(11) Debt, net

The following table presents the balance of the Company’s debt obligations, net of discounts and deferred financing costs for our corporate and asset based debt. Asset based debt is generally recourse only to specific assets and related cash flows. As of December 31, 2024Corporate debtInsuranceMortgageTotalSecured revolving credit agreements (1)$— $— $— Preferred trust securities (SOFR + 4.10% + spread adjustment (2))35,000 — 35,000 8.50% Junior subordinated notes 125,000 — 125,000 9.25% Junior subordinated notes 150,000 — 150,000 Total corporate debt310,000 — 310,000 Asset based debtAsset based revolving financing (SOFR + 2.75%)63,699 — 63,699 Residential mortgage warehouse borrowings (1.75% to 3.30% over SOFR) (3)(4)— 68,394 68,394 Total asset based debt63,699 68,394 132,093 Total debt, face value373,699 68,394 442,093 Unamortized deferred financing