Hagerty Inc

For the period ended Dec 31, 2023. Filed Mar 12, 2024.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Mar 12, 2024

HGTY$16.94-1.6%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Consolidated Balance Sheets as of December 31, 202 and

Consolidated Balance Sheets

	December 31,
	2023	2022
ASSETS	in thousands (except share amounts)
Current Assets:
Cash and cash equivalents	$108,326	$95,172
Restricted cash and cash equivalents	615,950	444,019
Accounts receivable	71,530	58,255
Premiums receivable	137,525	100,700
Commissions receivable	79,115	60,151
Notes receivable	35,896	25,493
Deferred acquisition costs, net	141,637	107,342
Other current assets	60,239	45,651
Total current assets	1,250,218	936,783
Notes receivable	17,018	11,934
Property and equipment, net	20,764	25,256
Lease right-of-use assets	50,515	82,398
Intangible assets, net	91,924	104,024
Goodwill	114,214	115,041
Other long-term assets	43,559	37,082
TOTAL ASSETS	$1,588,212	$1,312,518
LIABILITIES, TEMPORARY EQUITY AND STOCKHOLDERS' EQUITY
Current Liabilities:
Accounts payable, accrued expenses and other current liabilities	$87,175	$77,049
Losses payable	62,001	55,516
Provision for unpaid losses and loss adjustment expenses	136,507	111,741
Commissions payable	108,739	77,075
Due to insurers	79,815	68,171
Advanced premiums	20,471	17,084
Unearned premiums	317,275	235,462
Contract liabilities	30,316	25,257
Total current liabilities	842,299	667,355
Long-term lease liabilities	50,459	80,772
Long-term debt, net	130,680	108,280
Warrant liabilities	34,018	45,561
Deferred tax liability	15,937	12,850
Contract liabilities	17,335	19,169
Other long-term liabilities	4,139	11,162
TOTAL LIABILITIES	1,094,867	945,149
Commitments and Contingencies (Note 24)	—	—
TEMPORARY EQUITY
Preferred stock, $0.0001 par value (20,000,000 shares authorized, 8,483,561 Series A Convertible Preferred Stock issued and outstanding as of December 31, 2023 and no shares issued and outstanding as of December 31, 2022)	82,836	—
STOCKHOLDERS' EQUITY
Class A Common Stock, $0.0001 par value (500,000,000 shares authorized, 84,588,536 and 83,202,969 issued and outstanding as of December 31, 2023 and December 31, 2022, respectively)	8	8
Class V Common Stock, $0.0001 par value (300,000,000 authorized, 251,033,906 shares issued and outstanding as of December 31, 2023 and December 31, 2022)	25	25
Additional paid-in capital	561,754	549,034
Accumulated earnings (deficit)	(468,995)	(489,602)
Accumulated other comprehensive income (loss)	(88)	(213)
Total stockholders' equity	92,704	59,252
Non-controlling interest	317,805	308,117
Total equity (Note 19)	410,509	367,369
TOTAL LIABILITIES, TEMPORARY EQUITY AND STOCKHOLDERS' EQUITY	$1,588,212	$1,312,518

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.