RADIAN GROUP INC
For the period ended Sep 30, 2024. Filed Nov 7, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 7, 2024
RDN$36.76+0.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Balance Sheets (Unaudited)
| (In thousands, except per-share amounts) | September 30,2024 | December 31,2023 |
|---|---|---|
| Assets | ||
| Investments (Notes 5 and 6) | ||
| Fixed-maturities available for sale—at fair value (amortized cost of $5,583,574 and $5,599,111) | $5,292,480 | $5,188,228 |
| Trading securities—at fair value (amortized cost of $91,976 and $110,484) | 89,272 | 106,423 |
| Equity securities—at fair value (cost of $151,307 and $92,124) | 145,717 | 89,057 |
| Residential mortgage loans held for sale—at fair value (Note 7) | 529,517 | 32,755 |
| Other invested assets—at fair value | 7,809 | 8,625 |
| Short-term investments—at fair value (includes $116,905 and $149,364 of reinvested cash collateral held under securities lending agreements) | 432,385 | 660,566 |
| Total investments | 6,497,180 | 6,085,654 |
| Cash | 28,061 | 18,999 |
| Restricted cash | 2,014 | 1,066 |
| Accrued investment income | 49,707 | 45,783 |
| Accounts and notes receivable | 138,439 | 123,857 |
| Reinsurance recoverables (includes $369 and $59 for paid losses) | 34,015 | 25,909 |
| Deferred policy acquisition costs | 18,430 | 18,718 |
| Property and equipment, net | 41,892 | 63,822 |
| Prepaid federal income taxes (Note 10) | 870,336 | 750,320 |
| Other assets (Note 9) | 384,666 | 459,805 |
| Consolidated VIE assets (Note 7) | ||
| Securitized residential mortgage loans held for investment—at fair value | 353,078 | — |
| Other VIE assets | 1,953 | — |
| Total assets | $8,419,771 | $7,593,933 |
| Liabilities and stockholders’ equity | ||
| Liabilities | ||
| Unearned premiums | $198,007 | $225,396 |
| Reserve for losses and LAE (Note 11) | 363,225 | 370,148 |
| Senior notes (Note 12) | 1,064,718 | 1,417,781 |
| Secured borrowings (Note 12) | 551,916 | 119,476 |
| Reinsurance funds withheld | 138,810 | 130,564 |
| Net deferred tax liability | 737,605 | 589,564 |
| Other liabilities | 318,345 | 343,199 |
| Consolidated VIE liabilities (Note 7) | ||
| Securitized nonrecourse debt—at fair value | 344,904 | — |
| Other VIE liabilities | 3,388 | — |
| Total liabilities | 3,720,918 | 3,196,128 |
| Commitments and contingencies (Note 13) | ||
| Stockholders’ equity | ||
| Common stock ($0.001 par value; 485,000 shares authorized; 2024: 170,541 and 149,776 shares issued and outstanding, respectively; 2023: 173,247 and 153,179 shares issued and outstanding, respectively) | 171 | 173 |
| Treasury stock, at cost (2024: 20,766 shares; 2023: 20,068 shares) | (967,717) | (945,870) |
| Additional paid-in capital | 1,315,046 | 1,430,594 |
| Retained earnings | 4,584,453 | 4,243,759 |
| Accumulated other comprehensive income (loss) (Note 15) | (233,100) | (330,851) |
| Total stockholders’ equity | 4,698,853 | 4,397,805 |
| Total liabilities and stockholders’ equity | $8,419,771 | $7,593,933 |
Condensed Consolidated Statements of Operations (Unaudited)
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