Company: TIPT
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0001393726-25-000076
Chunk: 160

Company: TIPTREE INC.
Filing Date: 2025-07-30
Form: 10-Q
Item: Part I, Item 8
Chunk 160
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)(7,917)(32,491)Less: Net realized and unrealized gains (losses) (1)(5,364)(1,449)(2,038)— (8,851)Plus: Intangibles amortization (2)7,698 — — — 7,698 Plus: Stock-based compensation expense1,804 — — 5,428 7,232 Plus: Non-recurring expenses (3)3,336 — — — 3,336 Plus: Non-cash fair value adjustments (4)5,072 — — — 5,072 Plus: Impact of tax deconsolidation of Fortegra (5)— — — 10,822 10,822 Less: Tax on adjustments (6)(2,668)316 469 (892)(2,775)Adjusted net income (before NCI)$74,449 $(128)$828 $(14,761)$60,388 Less: Impact of non-controlling interests(15,433)— — — (15,433)Adjusted net income $59,016 $(128)$828 $(14,761)44,955 Adjusted net income (before NCI)$74,449 $(128)$828 $(14,761)$60,388 Average stockholders’ equity$500,903 $52,798 $94,500 $(50,884)$597,317 Adjusted return on average equity (7)29.7 %(0.5)%1.8 %NM%20.2 %(1)      Net realized and unrealized gains (losses) added back in Adjusted net income excludes net realized and unrealized gains (losses) from the mortgage segment and unrealized gains (losses) on mortgage servicing rights.(2)         Specifically associated with acquisition purchase accounting. See Note (7) Goodwill and Intangible Assets, net, for the period ended June 30, 2025.(3)     For the three and six months ended June 30, 2025 and 2024, included in other expenses were expenses related to legal, banker and other expenses including expenses associated with preparation of the registration statement for the withdrawn Fortegra initial public offering in 2024.(4)        For the three and six months ended June 30, 2025 and 2024, non-cash fair-value adjustments