10-Q Filing

NMI HOLDINGS, INC. CIK: 1547903 Q1 2014

Filing Information

Form Type	10-Q
Accession Number	`0001547903-14-000077`
Period End Date	20140331
Filing Date	20140514
Fiscal Year	2014
Fiscal Period	Q1
XBRL Instance	nmih-20140331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 51 Income Statement 39 Cash Flow Statement 53 Stockholders Equity 19

Balance Sheet 51 line items

Line Item	Tag	Value	Unit	Period
Fixed maturity, amortized cost	`AvailableForSaleDebtSecuritiesAmortizedCostBasis`	$416.13M	USD	Point-in-time
Fixed maturity, amortized cost	`AvailableForSaleDebtSecuritiesAmortizedCostBasis`	$414.89M	USD	Point-in-time
Fixed maturities (amortized cost of $414,888 and $416,135 as of March 31, 2014 and December 31, 2013, respectively)	`AvailableForSaleSecuritiesDebtSecurities`	$410.88M	USD	Point-in-time
Fixed maturities (amortized cost of $414,888 and $416,135 as of March 31, 2014 and December 31, 2013, respectively)	`AvailableForSaleSecuritiesDebtSecurities`	$409.09M	USD	Point-in-time
Total investments	`Investments`	$409.09M	USD	Point-in-time
Total investments	`Investments`	$410.88M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$55.93M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$485.86M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$147.40M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$42.79M	USD	Point-in-time
Accrued investment income	`AccruedInvestmentIncomeReceivable`	$2.00M	USD	Point-in-time
Accrued investment income	`AccruedInvestmentIncomeReceivable`	$1.79M	USD	Point-in-time
Premiums receivable	`PremiumsReceivableAtCarryingValue`	$19.00K	USD	Point-in-time
Premiums receivable	`PremiumsReceivableAtCarryingValue`	$129.00K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrentAndNoncurrent`	$1.52M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrentAndNoncurrent`	$1.70M	USD	Point-in-time
Deferred policy acquisition costs, net	`DeferredPolicyAcquisitionCosts`	$976.60K	USD	Point-in-time
Deferred policy acquisition costs, net	`DeferredPolicyAcquisitionCosts`	$90.20K	USD	Point-in-time
Goodwill and other indefinite lived intangible assets	`IntangibleAssetsNetIncludingGoodwill`	$3.63M	USD	Point-in-time
Goodwill and other indefinite lived intangible assets	`IntangibleAssetsNetIncludingGoodwill`	$3.63M	USD	Point-in-time
Software and equipment, net	`PropertyPlantAndEquipmentNet`	$8.88M	USD	Point-in-time
Software and equipment, net	`PropertyPlantAndEquipmentNet`	$9.23M	USD	Point-in-time
Other assets	`OtherAssets`	$63.00K	USD	Point-in-time
Other assets	`OtherAssets`	$57.00K	USD	Point-in-time
Total Assets	`Assets`	$481.22M	USD	Point-in-time
Total Assets	`Assets`	$471.18M	USD	Point-in-time
Unearned premiums	`UnearnedPremiums`	$1.45M	USD	Point-in-time
Unearned premiums	`UnearnedPremiums`	$4.72M	USD	Point-in-time
Reserve for insurance claims and claims expenses	`LiabilityForClaimsAndClaimsAdjustmentExpense`	-	USD	Point-in-time
Reserve for insurance claims and claims expenses	`LiabilityForClaimsAndClaimsAdjustmentExpense`	-	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$10.05M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$7.37M	USD	Point-in-time
Warrant liability, at fair value	`WarrantLiability`	$6.37M	USD	Point-in-time
Warrant liability, at fair value	`WarrantLiability`	$5.50M	USD	Point-in-time
Deferred tax liability	`OtherLiabilities`	$133.00K	USD	Point-in-time
Deferred tax liability	`OtherLiabilities`	$133.00K	USD	Point-in-time
Total Liabilities	`Liabilities`	$18.00M	USD	Point-in-time
Total Liabilities	`Liabilities`	$17.73M	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$555.96M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$553.71M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-7.05M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-4.01M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-99.08M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-84.02M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$453.45M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$488.75M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$463.22M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$471.18M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$481.22M	USD	Point-in-time

Income Statement 39 line items

Line Item	Tag	Value	Unit	Period
Direct	`DirectPremiumsWritten`	$5.18M	USD	1 Quarter
Direct	`DirectPremiumsWritten`	-	USD	1 Quarter
Net premiums written	`PremiumsWrittenNet`	$5.18M	USD	1 Quarter
Net premiums written	`PremiumsWrittenNet`	-	USD	1 Quarter
Increase in unearned premiums	`IncreaseDecreaseInUnearnedPremiumsNet`	$-3.27M	USD	1 Quarter
Increase in unearned premiums	`IncreaseDecreaseInUnearnedPremiumsNet`	-	USD	1 Quarter
Net premiums earned	`PremiumsEarnedNet`	-	USD	1 Quarter
Net premiums earned	`PremiumsEarnedNet`	$1.90M	USD	1 Quarter
Net investment income	`NetInvestmentIncome`	$410.00K	USD	1 Quarter
Net investment income	`NetInvestmentIncome`	$1.49M	USD	1 Quarter
Net realized investment gains	`AvailableForSaleSecuritiesGrossRealizedGainLossNet`	-	USD	1 Quarter
Net realized investment gains	`AvailableForSaleSecuritiesGrossRealizedGainLossNet`	$28.00K	USD	1 Quarter
Gain from change in fair value of warrant liability	`GainLossonChangeinFairValueofWarrantLiability`	$35.00K	USD	1 Quarter
Gain from change in fair value of warrant liability	`GainLossonChangeinFairValueofWarrantLiability`	$817.00K	USD	1 Quarter
Gain from settlement of warrants	`GainLossFromSettlementofWarrants`	$37.00K	USD	1 Quarter
Gain from settlement of warrants	`GainLossFromSettlementofWarrants`	-	USD	1 Quarter
Total Revenues	`Revenues`	$473.00K	USD	1 Quarter
Total Revenues	`Revenues`	$4.25M	USD	1 Quarter
Insurance claims and claims expenses	`IncurredClaimsPropertyCasualtyAndLiability`	-	USD	1 Quarter
Insurance claims and claims expenses	`IncurredClaimsPropertyCasualtyAndLiability`	-	USD	1 Quarter
Amortization of deferred policy acquisition costs	`DeferredPolicyAcquisitionCostAmortizationExpense`	$19.00K	USD	1 Quarter
Amortization of deferred policy acquisition costs	`DeferredPolicyAcquisitionCostAmortizationExpense`	-	USD	1 Quarter
Other underwriting and operating expenses	`OtherCostAndExpenseOperating`	$19.28M	USD	1 Quarter
Other underwriting and operating expenses	`OtherCostAndExpenseOperating`	$12.43M	USD	1 Quarter
Total Expenses	`CostsAndExpenses`	$12.43M	USD	1 Quarter
Total Expenses	`CostsAndExpenses`	$19.30M	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-11.95M	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-15.05M	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-55.18M	USD	Annual
Net unrealized holding gains for the period included in accumulated other comprehensive loss	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$3.04M	USD	1 Quarter
Net unrealized holding gains for the period included in accumulated other comprehensive loss	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$888.00K	USD	1 Quarter
Other Comprehensive Income (net of tax)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$3.04M	USD	1 Quarter
Other Comprehensive Income (net of tax)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$888.00K	USD	1 Quarter
Total Comprehensive Loss	`ComprehensiveIncomeNetOfTax`	$-12.02M	USD	1 Quarter
Total Comprehensive Loss	`ComprehensiveIncomeNetOfTax`	$-11.06M	USD	1 Quarter
Basic and Diluted loss per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.26	USD	1 Quarter
Basic and Diluted loss per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.22	USD	1 Quarter
Weighted average common shares outstanding (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	55.50M	shares	1 Quarter
Weighted average common shares outstanding (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	58.06M	shares	1 Quarter

Cash Flow Statement 53 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-11.95M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-15.05M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-55.18M	USD	Annual
Share-based compensation expense	`ShareBasedCompensation`	$2.33M	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$3.01M	USD	1 Quarter
Gain from change in fair value of warrant liability	`GainLossonChangeinFairValueofWarrantLiability`	$35.00K	USD	1 Quarter
Gain from change in fair value of warrant liability	`GainLossonChangeinFairValueofWarrantLiability`	$817.00K	USD	1 Quarter
Gain from settlement of warrants	`GainLossFromSettlementofWarrants`	$37.00K	USD	1 Quarter
Gain from settlement of warrants	`GainLossFromSettlementofWarrants`	-	USD	1 Quarter
Net realized investment gains	`AvailableForSaleSecuritiesGrossRealizedGainLossNet`	-	USD	1 Quarter
Net realized investment gains	`AvailableForSaleSecuritiesGrossRealizedGainLossNet`	$28.00K	USD	1 Quarter
Depreciation and other amortization	`DepreciationAmortizationAndAccretionNet`	$59.00K	USD	1 Quarter
Depreciation and other amortization	`DepreciationAmortizationAndAccretionNet`	$1.95M	USD	1 Quarter
Accrued investment income	`IncreaseDecreaseInAccruedInvestmentIncomeReceivable`	$1.13M	USD	1 Quarter
Accrued investment income	`IncreaseDecreaseInAccruedInvestmentIncomeReceivable`	$-210.00K	USD	1 Quarter
Unearned premiums	`IncreaseDecreaseInUnearnedPremiumsNet`	$-3.27M	USD	1 Quarter
Unearned premiums	`IncreaseDecreaseInUnearnedPremiumsNet`	-	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$183.00K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$116.00K	USD	1 Quarter
Deferred policy acquisition costs, net	`IncreaseDecreaseInDeferredPolicyAcquisitionCosts`	$887.00K	USD	1 Quarter
Deferred policy acquisition costs, net	`IncreaseDecreaseInDeferredPolicyAcquisitionCosts`	-	USD	1 Quarter
Premiums receivable	`IncreaseDecreaseInPremiumsReceivable`	-	USD	1 Quarter
Premiums receivable	`IncreaseDecreaseInPremiumsReceivable`	$110.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-7.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-54.00K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-3.10M	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-2.68M	USD	1 Quarter
Net Cash Used in Operating Activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-11.99M	USD	1 Quarter
Net Cash Used in Operating Activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-13.24M	USD	1 Quarter
Purchase of short-term investments	`PaymentsToAcquireShortTermInvestments`	-	USD	1 Quarter
Purchase of short-term investments	`PaymentsToAcquireShortTermInvestments`	$510.00K	USD	1 Quarter
Purchase of fixed-maturity investments, available-for-sale	`PaymentsToAcquireAvailableForSaleSecuritiesDebt`	$338.33M	USD	1 Quarter
Purchase of fixed-maturity investments, available-for-sale	`PaymentsToAcquireAvailableForSaleSecuritiesDebt`	$110.00K	USD	1 Quarter
Proceeds from redemptions, maturities and sale of fixed-maturity investments, available-for-sale	`ProceedsFromSaleOfAvailableForSaleSecuritiesDebt`	$718.00K	USD	1 Quarter
Proceeds from redemptions, maturities and sale of fixed-maturity investments, available-for-sale	`ProceedsFromSaleOfAvailableForSaleSecuritiesDebt`	$15.35M	USD	1 Quarter
Purchase of software and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.72M	USD	1 Quarter
Purchase of software and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.66M	USD	1 Quarter
Net Cash Used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.06M	USD	1 Quarter
Net Cash Used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-325.21M	USD	1 Quarter
Taxes paid related to net share settlement of equity awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	-	USD	1 Quarter
Taxes paid related to net share settlement of equity awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$90.00K	USD	1 Quarter
Net Cash Used in Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-90.00K	USD	1 Quarter
Net Cash Used in Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	1 Quarter
Net Decrease in Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-13.14M	USD	1 Quarter
Net Decrease in Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-338.45M	USD	1 Quarter
Cash and Cash Equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$55.93M	USD	Point-in-time
Cash and Cash Equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$485.86M	USD	Point-in-time
Cash and Cash Equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$147.40M	USD	Point-in-time
Cash and Cash Equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$42.79M	USD	Point-in-time
Cash and Cash Equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$55.93M	USD	Point-in-time
Cash and Cash Equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$485.86M	USD	Point-in-time
Cash and Cash Equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$147.40M	USD	Point-in-time
Cash and Cash Equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$42.79M	USD	Point-in-time

Stockholders Equity 19 line items

Line Item	Tag	Value	Unit	Period
Payments of stock issuance costs	`PaymentsOfStockIssuanceCosts`	$3.48M	USD	Annual
Beginning Balance	`StockholdersEquity`	$453.45M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$488.75M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$463.22M	USD	Point-in-time
Common stock Class A share issuance related to restricted stock units	`StockIssuedDuringPeriodValueRestrictedStockAwardGross`	$-1.58M	USD	Annual
Common stock Class A share issuance related to restricted stock units	`StockIssuedDuringPeriodValueRestrictedStockAwardGross`	$13.00K	USD	1 Quarter
Issuance of shares of common stock	`StockIssuedDuringPeriodValueNewIssues`	$27.91M	USD	Annual
Issuance of shares of common stock	`StockIssuedDuringPeriodValueNewIssues`	$-90.00K	USD	1 Quarter
Conversion of Class B shares of common stock into Class A shares of common stock	`StockIssuedDuringPeriodValueAcquisitions`	-	USD	Annual
Share-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationOtherLongtermIncentivePlansRequisiteServicePeriodRecognition`	$10.37M	USD	Annual
Share-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationOtherLongtermIncentivePlansRequisiteServicePeriodRecognition`	$2.33M	USD	1 Quarter
Change in unrealized investment gains/losses	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$3.04M	USD	1 Quarter
Change in unrealized investment gains/losses	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$-7.05M	USD	Annual
Net loss	`NetIncomeLoss`	$-11.95M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-15.05M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-55.18M	USD	Annual
Ending Balance	`StockholdersEquity`	$453.45M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$488.75M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$463.22M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.