Company: TIPT
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0001393726-25-000028
Chunk: 198

Company: TIPTREE INC.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 8
Chunk 198
---
 motor clubs and other services. Service and administrative fees are recognized consistent with the earnings recognition pattern of the underlying policies, debt cancellation contracts and motor club memberships being administered, using pro rata, Rule of 78’s, modified Rule of 78’s, or other methods as appropriate for the contract. Management selects the appropriate method based on available information, and periodically reviews the selections as additional information becomes available. Management reviews the financial results under each significant contract on a monthly basis. Any losses that may occur due to a specific contract would be recognized in the period in which the loss is determined to be probable. We do not disclose information about remaining performance obligations pertaining to contracts that have an original expected duration of one year or less. The transaction price allocated to remaining unsatisfied or partially unsatisfied performance obligations with an original expected duration exceeding one year was not material as of December 31, 2024.

F-51

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

The timing of our revenue recognition may differ from the timing of payment by our customers. We record a receivable when revenue is recognized prior to payment and we have an unconditional right to payment. Alternatively, when payment precedes the provision of the related services, we record deferred revenue until the performance obligations are satisfied.The following table presents the activity in the deferred assets and liabilities related to revenue from contracts with customers for the following period:January 1, 2024December 31, 2024Beginning balanceAdditionsAmortizationEnding balanceDeferred acquisition costsService and Administrative Fees:Service contract revenue$201,903 $101,037 $91,534 $211,406 Motor club revenue16,636 30,120 33,852 12,904 Total$218,539 $131,157 $125,386 $224,310 Deferred revenueService and Administrative Fees:Service contract revenue$605,425 $306,712 $294,504 $617,633 Motor club revenue21,677 38,327 43,258 16,746 Other— 3,696 3,696 — Total$627,102 $348,735 $341,458 $634,379 For the periods presented, no write-offs for unrecoverable deferred acquisition costs and deferred revenue were recognized.

(15) Other Assets and Other Liabilities and Accrued Expenses