TIPTREE INC
For the period ended Sep 30, 2024. Filed Oct 30, 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 Oct 30, 2024
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(17) Accumulated Other Comprehensive Income (Loss)
(17)Accumulated Other Comprehensive Income (Loss) (AOCI)
The following table presents the activity of AFS securities in AOCI, net of tax, for the following periods:
| Unrealized gains (losses) on available for sale securities | Foreign currency translation adjustment | Total AOCI | Amount attributable to non-controlling interests | Total AOCI to Tiptree Inc. | |
|---|---|---|---|---|---|
| Balance at December 31, 2022 | $(43,043) | $(7,311) | $(50,354) | $10,925 | $(39,429) |
| Other comprehensive income (losses) before reclassifications | (5,126) | 1,398 | (3,728) | 345 | (3,383) |
| Amounts reclassified from AOCI | 2,235 | — | 2,235 | — | 2,235 |
| OCI | (2,891) | 1,398 | (1,493) | 345 | (1,148) |
| Balance at September 30, 2023 | $(45,934) | $(5,913) | $(51,847) | $11,270 | $(40,577) |
| Balance at December 31, 2023 | $(32,145) | $(98) | $(32,243) | $6,170 | $(26,073) |
| Other comprehensive income (losses) before reclassifications | 9,308 | 5,241 | 14,549 | (3,764) | 10,785 |
| Amounts reclassified from AOCI | 117 | — | 117 | — | 117 |
| OCI | 9,425 | 5,241 | 14,666 | (3,764) | 10,902 |
| Balance at September 30, 2024 | $(22,720) | $5,143 | $(17,577) | $2,406 | $(15,171) |
The following table presents the reclassification adjustments out of AOCI included in net income and the impacted line items on the condensed consolidated statement of operations for the following periods:
| Three Months Ended September 30, · Nine Months Ended September 30, · Affected line item in condensed consolidated statements of operations | |||||
|---|---|---|---|---|---|
| Components of AOCI · 2024 · 2023 · 2024 · 2023 | |||||
| Unrealized gains (losses) on available for sale securities | $(57) | $2 | $(150) | $(2,954) | Net realized and unrealized gains (losses) |
| Related tax (expense) benefit | 9 | — | 33 | 719 | Provision for income tax |
| Net of tax | $(48) | $2 | $(117) | $(2,235) | |
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