Company: TIPT
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0001393726-25-000076
Chunk: 42

Company: TIPTREE INC.
Filing Date: 2025-07-30
Form: 10-Q
Item: Part I, Item 2
Chunk 42
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958 $58,523 $(102,619)$690,071 Adjusted return on average equity (7)25.3 %2.2 %(2.9)%NM%19.8 %Six Months Ended June 30, 2024($ in thousands)Tiptree CapitalInsuranceMortgageOtherCorporateTotalIncome (loss) before taxes$88,061 $1,281 $3,205 $(22,202)$70,345 Less: Income tax (benefit) expense(23,490)(276)(808)(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