(Exact name of registrant as specified in its charter) | ||||||||||||||||||||
(State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||||||||||||||||||
(Address of principal executive offices) | (Zip Code) | |||||||||||||||||||
(Registrant's telephone number, including area code) | ||||||||||||||||||||
United Insurance Holdings Corp. | ||||||||||||||||||||
(Former name or former address, if changed since last report.) |
Title of Each Class | Trading Symbol(s) | Name of Each Exchange on Which Registered | ||||||
Exhibit No. | Description | |||||||
Earnings release issued by the Company on | ||||||||
Investor presentation issued by the Company on | ||||||||
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
UNITED INSURANCE HOLDINGS CORP. | ||||||||
By: | /s/ B. Bradford Martz | |||||||
B. Bradford Martz, President and Chief Financial Officer (principal financial officer and principal accounting officer) |
($ in thousands, except for per share data) | Three Months Ended | Six Months Ended | |||||||||||||||||||||||||||||||||
June 30, | June 30, | ||||||||||||||||||||||||||||||||||
2023 | 2022 | Change | 2023 | 2022 | Change | ||||||||||||||||||||||||||||||
Gross premiums written | $ | 243,885 | $ | 207,632 | 17.5 | % | $ | 431,008 | $ | 350,046 | 23.1 | % | |||||||||||||||||||||||
Gross premiums earned | $ | 158,199 | $ | 129,483 | 22.2 | % | $ | 302,675 | $ | 252,216 | 20.0 | % | |||||||||||||||||||||||
Net premiums earned | $ | 83,169 | $ | 64,532 | 28.9 | % | $ | 170,493 | $ | 122,278 | 39.4 | % | |||||||||||||||||||||||
Total revenues | $ | 79,295 | $ | 63,910 | 24.1 | % | $ | 169,615 | $ | 122,342 | 38.6 | % | |||||||||||||||||||||||
Earnings from continuing operations, net of tax | $ | 22,605 | $ | 5,844 | 286.8 | % | $ | 54,274 | $ | 5,571 | NM | ||||||||||||||||||||||||
Income (loss) from discontinued operations, net of tax | $ | (4,358) | $ | (74,899) | 94.2 | % | $ | 224,851 | $ | (107,883) | NM | ||||||||||||||||||||||||
Consolidated net income (loss) attributable to ACIC | $ | 18,247 | $ | (69,029) | NM | $ | 279,125 | $ | (102,201) | NM | |||||||||||||||||||||||||
Net income (loss) available to ACIC stockholders per diluted share | |||||||||||||||||||||||||||||||||||
Continuing Operations | $ | 0.52 | $ | 0.14 | NM | $ | 1.24 | $ | 0.13 | NM | |||||||||||||||||||||||||
Discontinued Operations | $ | (0.10) | $ | (1.74) | 94.3 | % | 5.15 | (2.50) | NM | ||||||||||||||||||||||||||
Total | $ | 0.42 | $ | (1.60) | NM | $ | 6.39 | $ | (2.37) | NM | |||||||||||||||||||||||||
Reconciliation of net income (loss) to core income (loss): | |||||||||||||||||||||||||||||||||||
Plus: Non-cash amortization of intangible assets | $ | 811 | $ | 812 | (0.1) | % | $ | 1,623 | $ | 1,624 | (0.1) | % | |||||||||||||||||||||||
Less: Income (loss) from discontinued operations, net of tax | $ | (4,358) | $ | (74,899) | 94.2 | % | $ | 224,851 | $ | (107,883) | NM | ||||||||||||||||||||||||
Less: Net realized losses on investment portfolio | $ | (6,725) | $ | (77) | NM | $ | (6,808) | $ | (40) | NM | |||||||||||||||||||||||||
Less: Unrealized gains (losses) on equity securities | $ | 141 | $ | (2,391) | NM | $ | 615 | $ | (3,161) | NM | |||||||||||||||||||||||||
Less: Net tax impact (1) | $ | 1,553 | $ | 689 | NM | $ | 1,641 | $ | 1,013 | 62.0 | % | ||||||||||||||||||||||||
Core income (2) | $ | 28,447 | $ | 8,461 | 236.2 | % | $ | 60,449 | $ | 9,494 | 536.7 | % | |||||||||||||||||||||||
Core income per diluted share (2) | $ | 0.65 | $ | 0.20 | 225.0 | % | $ | 1.38 | $ | 0.22 | 527.3 | % | |||||||||||||||||||||||
Book value per share | $ | 2.45 | $ | 3.85 | NM |
($ in thousands) | Three Months Ended | Six Months Ended | |||||||||||||||||||||
June 30, | June 30, | ||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | ||||||||||||||||||||
Income from continuing operations, net of tax | $ | 22,605 | $ | 5,844 | $ | 54,274 | $ | 5,571 | |||||||||||||||
Return on equity based on GAAP earnings from continuing operations, net of tax (1) | 246.9 | % | 8.3 | % | 296.4 | % | 3.9 | % | |||||||||||||||
Income (loss) from discontinued operations, net of tax | $ | (4,358) | $ | (74,899) | $ | 224,851 | $ | (107,883) | |||||||||||||||
Return on equity based on GAAP income (loss) from discontinued operations, net of tax (1) | (47.6) | % | (105.8) | % | NM | (76.2) | % | ||||||||||||||||
Consolidated net income (loss) attributable to ACIC | $ | 18,247 | $ | (69,029) | $ | 279,125 | $ | (102,201) | |||||||||||||||
Return on equity based on GAAP net income (loss) attributable to ACIC (1) | 199.3 | % | (97.5) | % | NM | (72.2) | % | ||||||||||||||||
Core income | $ | 28,447 | $ | 8,461 | $ | 60,449 | $ | 9,494 | |||||||||||||||
Core return on equity (1)(2) | 310.7 | % | 12.0 | % | 330.1 | % | 6.7 | % |
($ in thousands) | Three Months Ended | Six Months Ended | |||||||||||||||||||||||||||||||||
June 30, | June 30, | ||||||||||||||||||||||||||||||||||
2023 | 2022 | Change | 2023 | 2022 | Change | ||||||||||||||||||||||||||||||
Consolidated | |||||||||||||||||||||||||||||||||||
Loss ratio, net(1) | 25.1 | % | 21.7 | % | 3.4 | pts | 21.9 | % | 33.0 | % | (11.1) | pts | |||||||||||||||||||||||
Expense ratio, net(2) | 42.6 | % | 55.2 | % | (12.6) | pts | 43.0 | % | 55.3 | % | (12.3) | pts | |||||||||||||||||||||||
Combined ratio (CR)(3) | 67.7 | % | 76.9 | % | (9.2) | pts | 64.9 | % | 88.3 | % | (23.4) | pts | |||||||||||||||||||||||
Effect of current year catastrophe losses on CR | 7.9 | % | (3.3) | % | 11.2 | pts | 5.4 | % | 2.8 | % | 2.6 | pts | |||||||||||||||||||||||
Effect of prior year unfavorable (favorable) development on CR | (6.2) | % | (6.0) | % | (0.2) | pts | (4.9) | % | (5.7) | % | 0.8 | pts | |||||||||||||||||||||||
Underlying combined ratio(4) | 66.0 | % | 86.2 | % | (20.2) | pts | 64.4 | % | 91.2 | % | (26.8) | pts | |||||||||||||||||||||||
Personal Lines | |||||||||||||||||||||||||||||||||||
Loss ratio, net(1) | 50.9 | % | 44.6 | % | 6.3 | pts | 40.2 | % | 71.1 | % | (30.9) | pts | |||||||||||||||||||||||
Expense ratio, net(2) | 81.2 | % | 88.1 | % | (6.9) | pts | 95.9 | % | 90.7 | % | 5.2 | pts | |||||||||||||||||||||||
Combined ratio (CR)(3) | 132.1 | % | 132.7 | % | (0.6) | pts | 136.1 | % | 161.8 | % | (25.7) | pts | |||||||||||||||||||||||
Effect of current year catastrophe losses on CR | 3.7 | % | 3.6 | % | 0.1 | pts | 4.8 | % | 11.4 | % | (6.6) | pts | |||||||||||||||||||||||
Effect of prior year unfavorable (favorable) development on CR | 2.0 | % | (15.2) | % | 17.2 | pts | (1.2) | % | (12.8) | % | 11.6 | pts | |||||||||||||||||||||||
Underlying combined ratio(4) | 126.4 | % | 144.3 | % | (17.9) | pts | 132.5 | % | 163.2 | % | (30.7) | pts | |||||||||||||||||||||||
Commercial Lines | |||||||||||||||||||||||||||||||||||
Loss ratio, net(1) | 22.0 | % | 15.9 | % | 6.1 | pts | 19.7 | % | 23.0 | % | (3.3) | pts | |||||||||||||||||||||||
Expense ratio, net(2) | 37.4 | % | 45.6 | % | (8.2) | pts | 36.5 | % | 45.0 | % | (8.5) | pts | |||||||||||||||||||||||
Combined ratio (CR)(3) | 59.4 | % | 61.5 | % | (2.1) | pts | 56.2 | % | 68.0 | % | (11.8) | pts | |||||||||||||||||||||||
Effect of current year catastrophe losses on CR | 8.4 | % | (5.0) | % | 13.4 | pts | 5.4 | % | 0.5 | % | 4.9 | pts | |||||||||||||||||||||||
Effect of prior year favorable development on CR | (7.2) | % | (3.7) | % | (3.5) | pts | (5.3) | % | (3.8) | % | (1.5) | pts | |||||||||||||||||||||||
Underlying combined ratio(5) | 58.2 | % | 70.2 | % | (12.0) | pts | 56.1 | % | 71.3 | % | (15.2) | pts |
($ in thousands) | Three Months Ended | Six Months Ended | |||||||||||||||||||||||||||||||||
June 30, | June 30, | ||||||||||||||||||||||||||||||||||
2023 | 2022 | Change | 2023 | 2022 | Change | ||||||||||||||||||||||||||||||
Loss and LAE | $ | 20,915 | $ | 14,032 | $ | 6,883 | $ | 37,327 | $ | 40,347 | $ | (3,020) | |||||||||||||||||||||||
% of Gross earned premiums | 13.2 | % | 10.8 | % | 2.4 | pts | 12.3 | % | 16.0 | % | (3.7) | pts | |||||||||||||||||||||||
% of Net earned premiums | 25.1 | % | 21.7 | % | 3.4 | pts | 21.9 | % | 33.0 | % | (11.1) | pts | |||||||||||||||||||||||
Less: | |||||||||||||||||||||||||||||||||||
Current year catastrophe losses | $ | 6,540 | $ | (2,112) | $ | 8,652 | $ | 9,155 | $ | 3,416 | $ | 5,739 | |||||||||||||||||||||||
Prior year reserve unfavorable (favorable) development | (5,151) | (3,877) | (1,274) | (8,316) | (6,941) | (1,375) | |||||||||||||||||||||||||||||
Underlying loss and LAE (1) | $ | 19,526 | $ | 20,021 | $ | (495) | $ | 36,488 | $ | 43,872 | $ | (7,384) | |||||||||||||||||||||||
% of Gross earned premiums | 12.3 | % | 15.5 | % | (3.2) | pts | 12.1 | % | 17.4 | % | (5.3) | pts | |||||||||||||||||||||||
% of Net earned premiums | 23.5 | % | 31.0 | % | (7.5) | pts | 21.4 | % | 35.9 | % | (14.5) | pts | |||||||||||||||||||||||
($ in thousands) | Three Months Ended | Six Months Ended | |||||||||||||||||||||||||||||||||
June 30, | June 30, | ||||||||||||||||||||||||||||||||||
2023 | 2022 | Change | 2023 | 2022 | Change | ||||||||||||||||||||||||||||||
Policy acquisition costs | $ | 25,545 | $ | 23,570 | $ | 1,975 | $ | 52,517 | $ | 43,878 | $ | 8,639 | |||||||||||||||||||||||
Operating and underwriting | 3,274 | 3,820 | (546) | 5,442 | 7,527 | (2,085) | |||||||||||||||||||||||||||||
General and administrative | 6,583 | 8,208 | (1,625) | 15,376 | 16,272 | (896) | |||||||||||||||||||||||||||||
Total Operating Expenses | $ | 35,402 | $ | 35,598 | $ | (196) | $ | 73,335 | $ | 67,677 | $ | 5,658 | |||||||||||||||||||||||
% of Gross earned premiums | 22.4 | % | 27.5 | % | (5.1) | pts | 24.2 | % | 26.8 | % | (2.6) | pts | |||||||||||||||||||||||
% of Net earned premiums | 42.6 | % | 55.2 | % | (12.6) | pts | 43.0 | % | 55.3 | % | (12.3) | pts | |||||||||||||||||||||||
($ in thousands) | Three Months Ended June 30, | |||||||||||||||||||||||||
2023 | 2022 | Change $ | Change % | |||||||||||||||||||||||
Direct Written and Assumed Premium by State (1) | ||||||||||||||||||||||||||
Florida | $ | 236,766 | $ | 179,188 | $ | 57,578 | 32.1 | % | ||||||||||||||||||
New York | 7,063 | 4,984 | 2,079 | 41.7 | ||||||||||||||||||||||
Texas | — | 1,803 | (1,803) | (100.0) | ||||||||||||||||||||||
South Carolina | — | (78) | 78 | (100.0) | ||||||||||||||||||||||
Total direct written premium by state | 243,829 | 185,897 | 57,932 | 31.2 | ||||||||||||||||||||||
Assumed premium (2) | 56 | 21,735 | (21,679) | (99.7) | ||||||||||||||||||||||
Total gross written premium by state | $ | 243,885 | $ | 207,632 | $ | 36,253 | 17.5 | % | ||||||||||||||||||
Gross Written Premium by Line of Business | ||||||||||||||||||||||||||
Commercial property | $ | 236,822 | $ | 181,067 | $ | 55,755 | 30.8 | % | ||||||||||||||||||
Personal property | 7,063 | 26,565 | (19,502) | (73.4) | ||||||||||||||||||||||
Total gross written premium by line of business | $ | 243,885 | $ | 207,632 | $ | 36,253 | 17.5 | % |
2023 | 2022 | ||||||||||
Non-at-Risk | (0.5) | % | (0.6) | % | |||||||
Quota Share | (14.4) | % | (14.2) | % | |||||||
All Other | (32.5) | % | (35.4) | % | |||||||
Total Ceding Ratio | (47.4) | % | (50.2) | % |
Personal | Commercial | ||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | ||||||||||||||||||||
Non-at-Risk | (2.0) | % | (1.1) | % | (0.4) | % | (0.5) | % | |||||||||||||||
Quota Share | — | % | — | % | (15.6) | % | (16.3) | % | |||||||||||||||
All Other | (23.9) | % | (18.5) | % | (33.2) | % | (37.8) | % | |||||||||||||||
Total Ceding Ratio | (25.9) | % | (19.6) | % | (49.2) | % | (54.6) | % |
($ in thousands, except for share and per share data) | June 30, 2023 | December 31, 2022 | ||||||||||||
Book Value per Share | ||||||||||||||
Numerator: | ||||||||||||||
Common stockholders' equity attributable to ACIC | $ | 106,462 | $ | (182,039) | ||||||||||
Denominator: | ||||||||||||||
Total Shares Outstanding | 43,406,486 | 43,280,173 | ||||||||||||
Book Value Per Common Share | $ | 2.45 | $ | (4.21) | ||||||||||
Book Value per Share, Excluding the Impact of Accumulated Other Comprehensive Income (AOCI) | ||||||||||||||
Numerator: | ||||||||||||||
Common stockholders' equity attributable to ACIC | $ | 106,462 | $ | (182,039) | ||||||||||
Less: Accumulated other comprehensive loss | (21,072) | (30,947) | ||||||||||||
Stockholders' Equity, excluding AOCI | $ | 127,534 | $ | (151,092) | ||||||||||
Denominator: | ||||||||||||||
Total Shares Outstanding | 43,406,486 | 43,280,173 | ||||||||||||
Underlying Book Value Per Common Share(1) | $ | 2.94 | $ | (3.49) |
Contact Information: | ||
Alexander Baty | ||
Director of Financial Reporting, American Coastal Insurance Corp. | ||
abaty@amcoastal.com | ||
(727) 895-7737 | ||
Karin Daly | ||
Investor Relations, Vice President, The Equity Group | ||
kdaly@equityny.com | ||
(212) 836-9623 |
Three Months Ended | Six Months Ended | |||||||||||||||||||||||||
June 30, | June 30, | |||||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||
REVENUE: | ||||||||||||||||||||||||||
Gross premiums written | $ | 243,885 | $ | 207,632 | $ | 431,008 | $ | 350,046 | ||||||||||||||||||
Change in gross unearned premiums | (85,686) | (78,149) | (128,333) | (97,830) | ||||||||||||||||||||||
Gross premiums earned | 158,199 | 129,483 | 302,675 | 252,216 | ||||||||||||||||||||||
Ceded premiums earned | (75,030) | (64,951) | (132,182) | (129,938) | ||||||||||||||||||||||
Net premiums earned | 83,169 | 64,532 | 170,493 | 122,278 | ||||||||||||||||||||||
Net investment income | 2,692 | 1,839 | 5,281 | 3,243 | ||||||||||||||||||||||
Net realized investment losses | (6,725) | (77) | (6,808) | (40) | ||||||||||||||||||||||
Net unrealized gains (losses) on equity securities | 141 | (2,391) | 615 | (3,161) | ||||||||||||||||||||||
Other revenue | 18 | 7 | 34 | 22 | ||||||||||||||||||||||
Total revenues | $ | 79,295 | $ | 63,910 | $ | 169,615 | $ | 122,342 | ||||||||||||||||||
EXPENSES: | ||||||||||||||||||||||||||
Losses and loss adjustment expenses | 20,915 | 14,032 | 37,327 | 40,347 | ||||||||||||||||||||||
Policy acquisition costs | 25,545 | 23,570 | 52,517 | 43,878 | ||||||||||||||||||||||
Operating expenses | 3,274 | 3,820 | 5,442 | 7,527 | ||||||||||||||||||||||
General and administrative expenses | 6,583 | 8,208 | 15,376 | 16,272 | ||||||||||||||||||||||
Interest expense | 2,719 | 2,363 | 5,438 | 4,722 | ||||||||||||||||||||||
Total expenses | 59,036 | 51,993 | 116,100 | 112,746 | ||||||||||||||||||||||
Income before other income | 20,259 | 11,917 | 53,515 | 9,596 | ||||||||||||||||||||||
Other income | 806 | 258 | 1,394 | 1,591 | ||||||||||||||||||||||
Income before income taxes | 21,065 | 12,175 | 54,909 | 11,187 | ||||||||||||||||||||||
Provision (benefit) for income taxes | (1,540) | 6,331 | 635 | 5,616 | ||||||||||||||||||||||
Income from continuing operations, net of tax | $ | 22,605 | $ | 5,844 | $ | 54,274 | $ | 5,571 | ||||||||||||||||||
Income (loss) from discontinued operations, net of tax | (4,358) | (74,899) | 224,851 | (107,883) | ||||||||||||||||||||||
Net income (loss) | $ | 18,247 | $ | (69,055) | $ | 279,125 | $ | (102,312) | ||||||||||||||||||
Less: Net loss attributable to noncontrolling interests | — | (26) | — | (111) | ||||||||||||||||||||||
Net income (loss) attributable to ACIC | $ | 18,247 | $ | (69,029) | $ | 279,125 | $ | (102,201) | ||||||||||||||||||
OTHER COMPREHENSIVE INCOME (LOSS): | ||||||||||||||||||||||||||
Change in net unrealized gains (losses) on investments | (2,168) | (16,590) | 2,063 | (44,279) | ||||||||||||||||||||||
Reclassification adjustment for net realized investment losses | 6,725 | 78 | 6,808 | 1,847 | ||||||||||||||||||||||
Income tax benefit (expense) related to items of other comprehensive income (loss) | — | (6,187) | — | 49 | ||||||||||||||||||||||
Total comprehensive income (loss) | $ | 22,804 | $ | (91,754) | $ | 287,996 | $ | (144,695) | ||||||||||||||||||
Less: Comprehensive income (loss) attributable to noncontrolling interests | — | 479 | — | (164) | ||||||||||||||||||||||
Comprehensive income (loss) attributable to ACIC | $ | 22,804 | $ | (92,233) | $ | 287,996 | $ | (144,531) | ||||||||||||||||||
Weighted average shares outstanding | ||||||||||||||||||||||||||
Basic | 43,229,416 | 43,049,227 | 43,178,758 | 43,015,114 | ||||||||||||||||||||||
Diluted | 43,805,217 | 43,049,227 | 43,690,435 | 43,015,114 | ||||||||||||||||||||||
Earnings available to ACIC common stockholders per share | ||||||||||||||||||||||||||
Basic | ||||||||||||||||||||||||||
Continuing operations | $ | 0.53 | $ | 0.14 | $ | 1.25 | $ | 0.13 | ||||||||||||||||||
Discontinued operations | (0.10) | (1.74) | 5.21 | (2.50) | ||||||||||||||||||||||
Total | $ | 0.43 | $ | (1.60) | $ | 6.46 | $ | (2.37) | ||||||||||||||||||
Diluted | ||||||||||||||||||||||||||
Continuing operations | $ | 0.52 | $ | 0.14 | $ | 1.24 | $ | 0.13 | ||||||||||||||||||
Discontinued operations | (0.10) | (1.74) | 5.15 | (2.50) | ||||||||||||||||||||||
Total | $ | 0.42 | $ | (1.60) | $ | 6.39 | $ | (2.37) | ||||||||||||||||||
Dividends declared per share | $ | — | $ | — | $ | — | $ | 0.06 |
June 30, 2023 | December 31, 2022 | |||||||||||||
ASSETS | ||||||||||||||
Investments, at fair value: | ||||||||||||||
Fixed maturities, available-for-sale | $ | 160,863 | $ | 204,682 | ||||||||||
Equity securities | — | 15,657 | ||||||||||||
Other investments | 3,583 | 3,675 | ||||||||||||
Total investments | $ | 164,446 | $ | 224,014 | ||||||||||
Cash and cash equivalents | 27,767 | 70,903 | ||||||||||||
Restricted cash | 49,501 | 45,988 | ||||||||||||
Accrued investment income | 1,632 | 1,605 | ||||||||||||
Property and equipment, net | 4,474 | 5,293 | ||||||||||||
Premiums receivable, net | 55,651 | 39,301 | ||||||||||||
Reinsurance recoverable on paid and unpaid losses | 658,814 | 796,546 | ||||||||||||
Ceded unearned premiums | 329,676 | 90,496 | ||||||||||||
Goodwill | 59,476 | 59,476 | ||||||||||||
Deferred policy acquisition costs | 34,821 | 52,369 | ||||||||||||
Intangible assets, net | 10,946 | 12,770 | ||||||||||||
Other assets | 33,496 | 3,920 | ||||||||||||
Assets held for disposal | 12,105 | 1,434,815 | ||||||||||||
Total Assets | $ | 1,442,805 | $ | 2,837,496 | ||||||||||
LIABILITIES AND STOCKHOLDERS' EQUITY | ||||||||||||||
Liabilities: | ||||||||||||||
Unpaid losses and loss adjustment expenses | $ | 534,676 | $ | 842,958 | ||||||||||
Unearned premiums | 387,311 | 258,978 | ||||||||||||
Reinsurance payable on premiums | 140,662 | 30,503 | ||||||||||||
Payments outstanding | 17,532 | 2,000 | ||||||||||||
Accounts payable and accrued expenses | 93,184 | 74,386 | ||||||||||||
Operating lease liability | 1,172 | 1,689 | ||||||||||||
Other liabilities | 11,490 | 14,815 | ||||||||||||
Notes payable, net | 148,521 | 148,355 | ||||||||||||
Liabilities held for disposal | 1,795 | 1,645,851 | ||||||||||||
Total Liabilities | $ | 1,336,343 | $ | 3,019,535 | ||||||||||
Commitments and contingencies | ||||||||||||||
Stockholders' Equity: | ||||||||||||||
Preferred stock, $0.0001 par value; 1,000,000 authorized; none issued or outstanding | — | — | ||||||||||||
Common stock, $0.0001 par value; 100,000,000 shares authorized; 43,618,569 and 43,492,256 issued, respectively; 43,406,486 and 43,280,173 outstanding, respectively | 4 | 4 | ||||||||||||
Additional paid-in capital | 396,136 | 395,631 | ||||||||||||
Treasury shares, at cost; 212,083 shares | (431) | (431) | ||||||||||||
Accumulated other comprehensive loss | (21,072) | (30,947) | ||||||||||||
Retained earnings (deficit) | (268,175) | (546,296) | ||||||||||||
Total Stockholders' Equity | $ | 106,462 | $ | (182,039) | ||||||||||
Total Liabilities and Stockholders' Equity | $ | 1,442,805 | $ | 2,837,496 |
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