Company: TIPT
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0001393726-25-000055
Chunk: 120

Company: TIPTREE INC.
Filing Date: 2025-04-30
Form: 10-Q
Item: Part II, Item 8
Chunk 120
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 financial assets and liabilities that are not recorded at fair value and their respective levels within the fair value hierarchy:As of March 31, 2025As of December 31, 2024Level withinfair valuehierarchyFair valueCarrying valueLevel withinfair valuehierarchyFair valueCarrying valueAssets:Debentures2$22,729 $22,729 2$25,320 $25,320 Notes receivable, net2117,152 117,152 2138,162 138,162 Total assets$139,881 $139,881 $163,482 $163,482 Liabilities:Debt3$510,085 $512,181 3$439,906 $442,093 Total liabilities$510,085 $512,181 $439,906 $442,093  Debentures: Since interest rates on debentures are at current market rates for similar credit risks, the carrying amount approximates fair value. These values are net of allowance for doubtful accounts. See Note (4) Investments.Notes Receivable, net: To the extent that carrying amounts differ from fair value, fair value is determined based on contractual cash flows discounted at market rates for similar credits. Categorized under Level 2 in the fair value hierarchy. See Note (5) Notes and Accounts Receivable, net.Debt: The carrying value, which approximates fair value of floating rate debt, represents the total debt balance at face value excluding the unamortized discount. The fair value of the Junior subordinated notes is determined based on dealer quotes. Categorized under Level 3 in the fair value hierarchy.Additionally, the following financial assets and liabilities on the condensed consolidated balance sheets are not carried at fair value, but whose carrying amounts approximate their fair value: Cash and Cash Equivalents: The carrying amounts of cash and cash equivalents are carried at cost which approximates fair value. Categorized under Level 1 in the fair value hierarchy.Accounts and Premiums Receivable, net, Retrospective Commissions Receivable and Other Receivables: The carrying amounts approximate fair value since no interest rate is charged on these short duration assets. Categorized under Level 2 in the fair value hierarchy. See Note (5) Notes and Accounts Receivable, net.

Due from Brokers, Dealers, and Trustees and Due to Brokers, Dealers and Trustees: The carrying amounts are included in other assets and other liabilities and