Company: TIPT
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0001393726-25-000028
Chunk: 214

Company: TIPTREE INC.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 8
Chunk 214
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(in thousands, except share data)

As of December 31,20242023Deferred tax assets:Loss carryforwards$50,164 $30,834 Unrealized losses10,426 28,926 Accrued expenses2,605 2,041 Unearned premiums57,294 61,112 Deferred revenue16,900 15,655 Claims reserve9,886 6,351 Lease liability9,313 8,357 Other deferred tax assets3,713 3,311 Total deferred tax assets160,301 156,587 Less: Valuation allowance(14,772)(12,366)Total net deferred tax assets145,529 144,221 Deferred tax liabilities:Property2,831 3,266 Unrealized gains10,477 9,648 Other deferred tax liabilities114 246 Deferred acquisition cost133,794 135,628 Advanced commissions59,522 48,975 Right of use asset7,100 6,236 Intangibles17,397 18,394 Investment in Fortegra84,702 61,673 Total deferred tax liabilities315,937 284,066 Net deferred tax liability $170,408 $139,845 As of January 2016, Tiptree established a U.S. federal consolidated income tax group and filed on a consolidated basis, with limited exceptions. As of June 2022, Fortegra and its subsidiaries are no longer part of Tiptree’s consolidated income tax group and formed their own tax consolidation group. Tiptree’s consolidated group, and certain subsidiaries on a separate basis, filed returns in various state jurisdictions, and as such may have state tax obligations. Additionally, as needed the Company will take all necessary steps to comply with any income tax withholding requirements.As of December 31, 2024, the Company had total U.S. federal net operating loss (NOL) and capital loss carryforwards of $134,517. The following table presents the U.S. federal NOLs and capital loss carryforwards by tax year of expiration:As ofDecember 31, 2024Tax Year of Expiration2025$— 2026— 20272,290 202810,553 202984,292 Indefinite37,382 Total (1)$134,517 (1)    $21,258 of the loss carryforwards reside at