XML 12 R4.htm IDEA: XBRL DOCUMENT v3.20.1
Consolidated Statement of Operations - USD ($)
shares in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Revenues:        
Service fee and commission income $ 12,904,000 $ 9,871,000 $ 34,491,000 $ 28,382,000
Rental income 3,341,000 3,341,000 10,023,000 10,034,000
Other income 110,000 (17,000) 368,000 304,000
Total revenues 16,355,000 13,195,000 44,882,000 38,720,000
Operating expenses:        
Claims authorized on vehicle service agreements 2,445,000 1,442,000 6,838,000 4,206,000
Loss and loss adjustment expenses 2,000 (19,000) 710,000 1,628,000
Commissions 1,256,000 971,000 3,277,000 2,718,000
Cost of services sold 1,533,000 2,033,000 4,052,000 5,749,000
General and administrative expenses 9,156,000 5,404,000 26,722,000 20,175,000
Leased real estate segment interest expense 1,513,000 1,540,000 4,560,000 4,638,000
Total operating expenses 15,905,000 11,371,000 46,159,000 39,114,000
Operating income (loss) 450,000 1,824,000 (1,277,000) (394,000)
Other revenues (expenses), net:        
Net investment income 897,000 629,000 2,345,000 2,277,000
Net realized gains (losses) 1,001,000 (414,000) 760,000 (17,000)
(Loss) gain on change in fair value of equity investments (38,000) 337,000 (23,000) 1,081,000
(Loss) gain on change in fair value of limited liability investments, at fair value (3,356,000) (131,000) 3,256,000 (1,592,000)
Net change in unrealized (loss) gain on private company investments (343,000) 19,000 (324,000) (136,000)
Other-than-temporary impairment loss 0 0 (75,000) 0
Non-operating other income 50,000 14,000 223,000 35,000
Interest expense not allocated to segments (2,314,000) (1,900,000) (6,755,000) (5,461,000)
Amortization of intangible assets (675,000) (1,339,000) (1,872,000) (1,848,000)
Gain (loss) on change in fair value of debt 610,000 (1,450,000) 2,104,000 (2,511,000)
Gain on disposal of subsidiary 0 0 0 17,000
Equity in net (loss) income of investee (126,000) (339,000) 42,000 (623,000)
Total other revenues (expenses), net (4,294,000) (4,574,000) (319,000) (8,778,000)
Loss from continuing operations before income tax expense (benefit) (3,844,000) (2,750,000) (1,596,000) (9,172,000)
Income tax expense (benefit) 162,000 (144,000) (383,000) 300,000
Loss from continuing operations (4,006,000) (2,606,000) (1,213,000) (9,472,000)
Income from discontinued operations, net of taxes 0 417,000 0 1,397,000
Loss on disposal of discontinued operations, net of taxes 0 (1,172,000) 0 (7,800,000)
Net loss (4,006,000) (3,361,000) (1,213,000) (15,875,000)
Less: net income attributable to noncontrolling interests in consolidated subsidiaries 202,000 200,000 671,000 717,000
Less: dividends on preferred stock, net of tax 258,000 265,000 756,000 777,000
Net loss attributable to common shareholders $ (4,466,000) $ (3,826,000) $ (2,640,000) $ (17,369,000)
Loss per share - continuing operations:        
Basic (in dollars per share) $ (0.20) $ (0.14) $ (0.12) $ (0.51)
Diluted (in dollars per share) (0.20) (0.14) (0.12) (0.51)
Loss per share - discontinued operations:        
Basic (in dollars per share) 0.00 (0.03) 0.00 (0.29)
Diluted (in dollars per share) 0.00 (0.03) 0.00 (0.29)
Loss per share – net loss attributable to common shareholders:        
Basic (in dollars per share) (0.20) (0.18) (0.12) (0.80)
Diluted (in dollars per share) $ (0.20) $ (0.18) $ (0.12) $ (0.80)
Weighted-average shares outstanding (in ‘000s):        
Basic (in shares) 21,867 21,708 21,858 21,708
Diluted (in shares) 21,867 21,708 21,858 21,708