Company: TIPT
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0001393726-25-000076
Chunk: 262

Company: TIPTREE INC.
Filing Date: 2025-07-30
Form: 10-Q
Item: Part II, Item 8
Chunk 262
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($ in thousands)Tiptree CapitalInsuranceMortgageOtherCorporateTotalTotal assets$5,848,384 $195,314 $83,556 $20,638 $6,147,892 Corporate debt$325,000 $— $— $74,625 $399,625 Asset based debt46,419 64,069 — — 110,488 Tiptree Inc. stockholders’ equity (1)$507,403 $55,987 $81,152 $(144,704)$499,838 Non-controlling interests:Fortegra preferred interests77,679 — — — 77,679 Common interests145,851 — — — 145,851 Total stockholders’ equity$730,933 $55,987 $81,152 $(144,704)$723,368 

(1)    Included in Corporate equity is the deferred tax liability on the outside basis on Tiptree’s investment in Fortegra of $102.0 million as of June 30, 2025. 

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Table of ContentsNON-GAAP MEASURES AND RECONCILIATIONSNon-GAAP ReconciliationsIn addition to GAAP results, management uses the non-GAAP financial measures underwriting and fee revenues and underwriting and fee margin in order to better explain to investors the underwriting performance and the respective retentions between the Company and its agents and reinsurance partners. We also use the non-GAAP financial measures adjusted net income and adjusted return on average equity as measures of operating performance and as part of our resource and capital allocation process, to assess comparative returns on invested capital. Management believes these measures provide supplemental information useful to investors as they are frequently used by the financial community to analyze financial performance and to compare relative performance among comparable companies. Adjusted net income, adjusted return on average equity, underwriting and fee revenues and underwriting and fee margin are not measurements of financial performance or liquidity under GAAP and should not be considered as an alternative or substitute for earned premiums, net income or any other measure derived in accordance with GAAP.Underwriting and Fee Revenues and Underwriting and Fee Margin — Non-GAAP (Insurance only)Underwriting and Fee Revenues — Non-GAAP — We define underwriting and fee revenues as earned premiums, net, service and administrative fees (excluding ceding fees) and other income (excluding cash and cash equivalent interest