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10-Q Filing

NMI HOLDINGS, INC. CIK: 1547903 Q1 2016
Filing Information
Form Type 10-Q
Accession Number 0001547903-16-000230
Period End Date 20160331
Filing Date 20160428
Fiscal Year 2016
Fiscal Period Q1
XBRL Instance nmih-20160331.xml
Balance Sheet 53 line items
Line Item Tag Value Unit Period
Fixed maturities, amortized cost AvailableForSaleDebtSecuritiesAmortizedCostBasis $564.32M USD Point-in-time
Fixed maturities, amortized cost AvailableForSaleDebtSecuritiesAmortizedCostBasis $551.78M USD Point-in-time
Fixed maturities, available-for-sale, at fair value (amortized cost of $551,780 and $564,319 as of March 31, 2016 and December 31, 2015, respectively) AvailableForSaleSecuritiesDebtSecurities $556.68M USD Point-in-time
Fixed maturities, available-for-sale, at fair value (amortized cost of $551,780 and $564,319 as of March 31, 2016 and December 31, 2015, respectively) AvailableForSaleSecuritiesDebtSecurities $559.24M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $66.42M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $73.30M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $57.32M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $103.02M USD Point-in-time
Premiums receivable PremiumsReceivableAtCarryingValue $6.58M USD Point-in-time
Premiums receivable PremiumsReceivableAtCarryingValue $5.14M USD Point-in-time
Accrued investment income AccruedInvestmentIncomeReceivable $3.14M USD Point-in-time
Accrued investment income AccruedInvestmentIncomeReceivable $2.87M USD Point-in-time
Prepaid expenses PrepaidExpenseCurrentAndNoncurrent $1.43M USD Point-in-time
Prepaid expenses PrepaidExpenseCurrentAndNoncurrent $2.73M USD Point-in-time
Deferred policy acquisition costs, net DeferredPolicyAcquisitionCosts $20.95M USD Point-in-time
Deferred policy acquisition costs, net DeferredPolicyAcquisitionCosts $17.53M USD Point-in-time
Software and equipment, net PropertyPlantAndEquipmentNet $15.20M USD Point-in-time
Software and equipment, net PropertyPlantAndEquipmentNet $17.22M USD Point-in-time
Intangible assets and goodwill IntangibleAssetsNetIncludingGoodwill $3.63M USD Point-in-time
Intangible assets and goodwill IntangibleAssetsNetIncludingGoodwill $3.63M USD Point-in-time
Other assets OtherAssets $74.00K USD Point-in-time
Other assets OtherAssets $90.00K USD Point-in-time
Total assets Assets $662.45M USD Point-in-time
Total assets Assets $684.31M USD Point-in-time
Term loan LongTermDebt $143.98M USD Point-in-time
Term loan LongTermDebt $143.94M USD Point-in-time
Unearned premiums UnearnedPremiums $109.09M USD Point-in-time
Unearned premiums UnearnedPremiums $90.77M USD Point-in-time
Accounts payable and accrued expenses AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent $22.73M USD Point-in-time
Accounts payable and accrued expenses AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent $19.11M USD Point-in-time
Reserve for insurance claims and claim expenses LiabilityForClaimsAndClaimsAdjustmentExpense $83.00K USD Point-in-time
Reserve for insurance claims and claim expenses LiabilityForClaimsAndClaimsAdjustmentExpense $679.00K USD Point-in-time
Reserve for insurance claims and claim expenses LiabilityForClaimsAndClaimsAdjustmentExpense $187.00K USD Point-in-time
Reserve for insurance claims and claim expenses LiabilityForClaimsAndClaimsAdjustmentExpense $1.14M USD Point-in-time
Warrant liability, at fair value WarrantLiability $1.47M USD Point-in-time
Warrant liability, at fair value WarrantLiability $797.00K USD Point-in-time
Deferred tax DeferredTaxLiabilities $137.00K USD Point-in-time
Deferred tax DeferredTaxLiabilities $137.00K USD Point-in-time
Total liabilities Liabilities $259.72M USD Point-in-time
Total liabilities Liabilities $274.26M 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 $570.34M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $571.59M USD Point-in-time
Accumulated other comprehensive loss, net of tax AccumulatedOtherComprehensiveIncomeLossNetOfTax $2.51M USD Point-in-time
Accumulated other comprehensive loss, net of tax AccumulatedOtherComprehensiveIncomeLossNetOfTax $-7.47M USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-160.72M USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-164.63M USD Point-in-time
Total shareholders' equity StockholdersEquity $426.96M USD Point-in-time
Total shareholders' equity StockholdersEquity $402.73M USD Point-in-time
Total shareholders' equity StockholdersEquity $410.06M USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $684.31M USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $662.45M USD Point-in-time
Income Statement 45 line items
Line Item Tag Value Unit Period
Net premiums written PremiumsWrittenNet $38.13M USD 1 Quarter
Net premiums written PremiumsWrittenNet $12.92M USD 1 Quarter
Increase in unearned premiums IncreaseDecreaseInUnearnedPremiumsNet $-5.99M USD 1 Quarter
Increase in unearned premiums IncreaseDecreaseInUnearnedPremiumsNet $-18.32M USD 1 Quarter
Net premiums earned PremiumsEarnedNet $19.81M USD 1 Quarter
Net premiums earned PremiumsEarnedNet $6.94M USD 1 Quarter
Net investment income NetInvestmentIncome $3.23M USD 1 Quarter
Net investment income NetInvestmentIncome $1.60M USD 1 Quarter
Net realized investment (losses) gains AvailableForSaleSecuritiesGrossRealizedGainLossNet $-885.00K USD 1 Quarter
Net realized investment (losses) gains AvailableForSaleSecuritiesGrossRealizedGainLossNet $613.00K USD 1 Quarter
Other revenues OtherSalesRevenueNet - USD 1 Quarter
Other revenues OtherSalesRevenueNet $32.00K USD 1 Quarter
Total revenues Revenues $22.18M USD 1 Quarter
Total revenues Revenues $9.14M USD 1 Quarter
Insurance claims and claims expenses IncurredClaimsPropertyCasualtyAndLiability $458.00K USD 1 Quarter
Insurance claims and claims expenses IncurredClaimsPropertyCasualtyAndLiability $104.00K USD 1 Quarter
Underwriting and operating expenses OtherCostAndExpenseOperating $22.67M USD 1 Quarter
Underwriting and operating expenses OtherCostAndExpenseOperating $18.35M USD 1 Quarter
Total expenses CostsAndExpenses $18.45M USD 1 Quarter
Total expenses CostsAndExpenses $23.13M USD 1 Quarter
Gain from change in fair value of warrant liability GainLossonChangeinFairValueofWarrantLiability $670.00K USD 1 Quarter
Gain from change in fair value of warrant liability GainLossonChangeinFairValueofWarrantLiability $1.25M USD 1 Quarter
Interest expense InterestExpenseDebt $3.63M USD 1 Quarter
Interest expense InterestExpenseDebt - USD 1 Quarter
Total other (expense) income OtherNonoperatingIncomeExpense $1.25M USD 1 Quarter
Total other (expense) income OtherNonoperatingIncomeExpense $-2.96M USD 1 Quarter
Loss before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-3.91M USD 1 Quarter
Loss before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-8.06M USD 1 Quarter
Income tax benefit IncomeTaxExpenseBenefit - USD 1 Quarter
Income tax benefit IncomeTaxExpenseBenefit $-241.00K USD 1 Quarter
Net loss NetIncomeLoss $-3.91M USD 1 Quarter
Net loss NetIncomeLoss $-7.82M USD 1 Quarter
Net loss NetIncomeLoss $-27.79M USD Annual
Basic and diluted loss per share (in dollars per share) EarningsPerShareBasicAndDiluted $-0.13 USD 1 Quarter
Basic and diluted loss per share (in dollars per share) EarningsPerShareBasicAndDiluted $-0.07 USD 1 Quarter
Weighted average common shares outstanding (in shares) WeightedAverageNumberOfShareOutstandingBasicAndDiluted 58.94M shares 1 Quarter
Weighted average common shares outstanding (in shares) WeightedAverageNumberOfShareOutstandingBasicAndDiluted 58.49M shares 1 Quarter
Net unrealized gains in accumulated other comprehensive loss, net of tax expense of $0 and $1,431 for the quarters ended March 31, 2016 and March 31, 2015, respectively OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $9.10M USD 1 Quarter
Net unrealized gains in accumulated other comprehensive loss, net of tax expense of $0 and $1,431 for the quarters ended March 31, 2016 and March 31, 2015, respectively OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $2.67M USD 1 Quarter
Reclassification adjustment for losses (gains) included in net loss, net of tax expense of $0 for the quarters ended March 31, 2016 and 2015 OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax $613.00K USD 1 Quarter
Reclassification adjustment for losses (gains) included in net loss, net of tax expense of $0 for the quarters ended March 31, 2016 and 2015 OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax $-885.00K USD 1 Quarter
Other comprehensive income, net of tax OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $9.99M USD 1 Quarter
Other comprehensive income, net of tax OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $2.06M USD 1 Quarter
Comprehensive income (loss) ComprehensiveIncomeNetOfTax $-5.76M USD 1 Quarter
Comprehensive income (loss) ComprehensiveIncomeNetOfTax $6.08M USD 1 Quarter
Cash Flow Statement 61 line items
Line Item Tag Value Unit Period
Net loss NetIncomeLoss $-3.91M USD 1 Quarter
Net loss NetIncomeLoss $-7.82M USD 1 Quarter
Net loss NetIncomeLoss $-27.79M USD Annual
Net realized investment losses (gains) AvailableForSaleSecuritiesGrossRealizedGainLossNet $-885.00K USD 1 Quarter
Net realized investment losses (gains) AvailableForSaleSecuritiesGrossRealizedGainLossNet $613.00K USD 1 Quarter
Gain from change in fair value of warrant liability FairValueAdjustmentOfWarrants $-1.25M USD 1 Quarter
Gain from change in fair value of warrant liability FairValueAdjustmentOfWarrants $-670.00K USD 1 Quarter
Depreciation and other amortization DepreciationAmortizationAndAccretionNet $1.32M USD 1 Quarter
Depreciation and other amortization DepreciationAmortizationAndAccretionNet $1.10M USD 1 Quarter
Amortization of debt discount and debt issuance costs AmortizationOfFinancingCostsAndDiscounts - USD 1 Quarter
Amortization of debt discount and debt issuance costs AmortizationOfFinancingCostsAndDiscounts $418.00K USD 1 Quarter
Share-based compensation expense ShareBasedCompensation $2.00M USD 1 Quarter
Share-based compensation expense ShareBasedCompensation $1.41M USD 1 Quarter
Noncash intraperiod tax allocation ExpenseBenefitforTaxesonCurrentYearUnrealizedGains - USD 1 Quarter
Noncash intraperiod tax allocation ExpenseBenefitforTaxesonCurrentYearUnrealizedGains $-241.00K USD 1 Quarter
Accrued investment income IncreaseDecreaseInAccruedInvestmentIncomeReceivable $271.00K USD 1 Quarter
Accrued investment income IncreaseDecreaseInAccruedInvestmentIncomeReceivable $25.00K USD 1 Quarter
Premiums receivable IncreaseDecreaseInPremiumsReceivable $615.00K USD 1 Quarter
Premiums receivable IncreaseDecreaseInPremiumsReceivable $1.44M USD 1 Quarter
Prepaid expenses IncreaseDecreaseInPrepaidExpense $1.30M USD 1 Quarter
Prepaid expenses IncreaseDecreaseInPrepaidExpense $37.00K USD 1 Quarter
Deferred policy acquisition costs, net IncreaseDecreaseInDeferredPolicyAcquisitionCosts $3.42M USD 1 Quarter
Deferred policy acquisition costs, net IncreaseDecreaseInDeferredPolicyAcquisitionCosts $2.30M USD 1 Quarter
Other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $-16.00K USD 1 Quarter
Other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $-453.00K USD 1 Quarter
Unearned premiums IncreaseDecreaseInUnearnedPremiumsNet $-5.99M USD 1 Quarter
Unearned premiums IncreaseDecreaseInUnearnedPremiumsNet $-18.32M USD 1 Quarter
Reserve for insurance claims and claims expenses IncreaseDecreaseInLossAndLossAdjustmentExpenseReserve $-458.00K USD 1 Quarter
Reserve for insurance claims and claims expenses IncreaseDecreaseInLossAndLossAdjustmentExpenseReserve $-104.00K USD 1 Quarter
Accounts payable and accrued expenses IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-11.09M USD 1 Quarter
Accounts payable and accrued expenses IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-4.29M USD 1 Quarter
Net cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivitiesContinuingOperations $735.00K USD 1 Quarter
Net cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivitiesContinuingOperations $-7.54M USD 1 Quarter
Purchase of fixed-maturity investments, available-for-sale PaymentsToAcquireAvailableForSaleSecuritiesDebt $71.32M USD 1 Quarter
Purchase of fixed-maturity investments, available-for-sale PaymentsToAcquireAvailableForSaleSecuritiesDebt $61.68M USD 1 Quarter
Proceeds from redemptions, maturities and sale of fixed-maturity investments, available-for-sale ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities $89.42M USD 1 Quarter
Proceeds from redemptions, maturities and sale of fixed-maturity investments, available-for-sale ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities $33.94M USD 1 Quarter
Purchase of software and equipment PaymentsToAcquirePropertyPlantAndEquipment $2.32M USD 1 Quarter
Purchase of software and equipment PaymentsToAcquirePropertyPlantAndEquipment $1.32M USD 1 Quarter
Net cash provided by (used in) investing activities NetCashProvidedByUsedInInvestingActivities $-29.06M USD 1 Quarter
Net cash provided by (used in) investing activities NetCashProvidedByUsedInInvestingActivities $15.78M USD 1 Quarter
Issuance of common stock ProceedsFromIssuanceOfCommonStock $333.00K USD 1 Quarter
Issuance of common stock ProceedsFromIssuanceOfCommonStock $449.00K USD 1 Quarter
Taxes paid related to net share settlement of equity awards PaymentsRelatedToTaxWithholdingForShareBasedCompensation $334.00K USD 1 Quarter
Taxes paid related to net share settlement of equity awards PaymentsRelatedToTaxWithholdingForShareBasedCompensation $608.00K USD 1 Quarter
Repayments of term loan RepaymentsOfLongTermDebt - USD 1 Quarter
Repayments of term loan RepaymentsOfLongTermDebt $375.00K USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-1.00K USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-534.00K USD 1 Quarter
Net increase (decrease) in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-36.60M USD 1 Quarter
Net increase (decrease) in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $15.98M USD 1 Quarter
Cash and cash equivalents, beginning of period CashAndCashEquivalentsAtCarryingValue $66.42M USD Point-in-time
Cash and cash equivalents, beginning of period CashAndCashEquivalentsAtCarryingValue $73.30M USD Point-in-time
Cash and cash equivalents, beginning of period CashAndCashEquivalentsAtCarryingValue $57.32M USD Point-in-time
Cash and cash equivalents, beginning of period CashAndCashEquivalentsAtCarryingValue $103.02M USD Point-in-time
Cash and cash equivalents, end of period CashAndCashEquivalentsAtCarryingValue $66.42M USD Point-in-time
Cash and cash equivalents, end of period CashAndCashEquivalentsAtCarryingValue $73.30M USD Point-in-time
Cash and cash equivalents, end of period CashAndCashEquivalentsAtCarryingValue $57.32M USD Point-in-time
Cash and cash equivalents, end of period CashAndCashEquivalentsAtCarryingValue $103.02M USD Point-in-time
Interest paid InterestPaid $3.25M USD 1 Quarter
Interest paid InterestPaid - USD 1 Quarter
Stockholders Equity 18 line items
Line Item Tag Value Unit Period
Change in unrealized investment gains/losses, tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax - USD Annual
Change in unrealized investment gains/losses, tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax - USD 1 Quarter
Change in unrealized investment gains/losses, tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax $1.43M USD 1 Quarter
Beginning balance StockholdersEquity $426.96M USD Point-in-time
Beginning balance StockholdersEquity $402.73M USD Point-in-time
Beginning balance StockholdersEquity $410.06M USD Point-in-time
Common stock: class A shares issued under stock plans, net of shares withheld for employee taxes StockIssuedDuringPeriodValueEmployeeStockPurchasePlan $-159.00K USD 1 Quarter
Common stock: class A shares issued under stock plans, net of shares withheld for employee taxes StockIssuedDuringPeriodValueEmployeeStockPurchasePlan $-690.00K USD Annual
Share-based compensation expense AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $1.41M USD 1 Quarter
Share-based compensation expense AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $8.12M USD Annual
Change in unrealized investment gains/losses, net of tax OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax $9.99M USD 1 Quarter
Change in unrealized investment gains/losses, net of tax OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax $-3.87M USD Annual
Net loss NetIncomeLoss $-3.91M USD 1 Quarter
Net loss NetIncomeLoss $-7.82M USD 1 Quarter
Net loss NetIncomeLoss $-27.79M USD Annual
Ending balance StockholdersEquity $426.96M USD Point-in-time
Ending balance StockholdersEquity $402.73M USD Point-in-time
Ending balance StockholdersEquity $410.06M USD Point-in-time
Comprehensive Income 5 line items
Line Item Tag Value Unit Period
Net unrealized investment gains in AOCI, tax amount OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax - USD Annual
Net unrealized investment gains in AOCI, tax amount OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax - USD 1 Quarter
Net unrealized investment gains in AOCI, tax amount OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax $1.43M USD 1 Quarter
Reclassification adjustment for losses (gains) included in net loss, tax amount OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesTax - USD 1 Quarter
Reclassification adjustment for losses (gains) included in net loss, tax amount OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesTax - USD 1 Quarter

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

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