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Income Taxes (Tables)
12 Months Ended
Dec. 31, 2022
Income Taxes  
Schedule of components of the income tax (benefit) provision

    

2022

    

2021

    

2020

Current:

 

  

 

  

 

  

Federal

$

(483)

$

1,065

$

State

 

(644)

 

(205)

 

(71)

Total current

 

(1,127)

 

860

 

(71)

Deferred

 

  

 

  

 

  

Federal

 

285

 

8,561

 

1,433

State

 

 

852

 

327

Total deferred

 

285

 

9,413

 

1,760

Income tax (expense) benefit

$

(842)

$

10,273

$

1,689

Schedule of significant deferred tax assets and deferred tax liabilities

    

December 31, 

    

December 31, 

2022

2021

Deferred tax assets

 

  

 

  

Accrued expenses and other

$

1,230

$

1,080

Unrealized gain/loss on investments

1,296

Stock-based compensation

1,626

1,753

Deferred revenue

 

49,053

 

37,108

Goodwill

 

6,378

 

357

Operating lease liabilities

1,071

1,126

Loss and loss adjustment reserves

16,392

11,971

Net operating losses

 

100,920

 

87,802

Disallowed interest

 

5,676

 

5,098

Research and development capitalized costs

521

Valuation allowance

 

(117,568)

 

(88,613)

Total deferred tax assets

 

66,595

 

57,682

Deferred tax liabilities

 

  

 

  

Property and equipment

(87)

(50)

Intangibles

(3,614)

(10,660)

Operating lease right-of-use assets

(1,026)

(1,091)

Deferred policy acquisition costs

(1,907)

(857)

Reinsurance balance due

(59,794)

(44,197)

Internally developed software

 

(590)

 

(1,180)

Total deferred tax liabilities

 

(67,018)

 

(58,035)

Net deferred tax liabilities

$

(423)

$

(353)

Schedule of reconciliation of the income tax (benefit) provision

2022

2021

2020

Tax computed at federal statutory rate

$

32,701

$

24,492

$

11,702

State tax, net of federal tax benefit

 

4,879

 

5,531

 

2,097

Loss on impairment

 

(3,836)

 

 

Equity compensation

 

(3,939)

 

12,821

 

1,148

Officer compensation

(860)

(5,306)

(176)

Debt transactions

 

4,808

 

(1,791)

 

824

Enacted tax rate changes

 

90

 

123

 

159

Return to provision

 

(6,533)

 

(648)

 

502

Valuation allowance

 

(27,724)

 

(25,296)

 

(13,764)

Other

 

(428)

 

347

 

(803)

Income tax benefit (expense)

$

(842)

$

10,273

$

1,689