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10-Q Filing

NMI HOLDINGS, INC. CIK: 1547903 Q1 2017
Filing Information
Form Type 10-Q
Accession Number 0001547903-17-000060
Period End Date 20170331
Filing Date 20170504
Fiscal Year 2017
Fiscal Period Q1
XBRL Instance nmih-20170331.xml
Balance Sheet 59 line items
Line Item Tag Value Unit Period
Fixed maturities, amortized cost AvailableForSaleDebtSecuritiesAmortizedCostBasis $658.46M USD Point-in-time
Fixed maturities, amortized cost AvailableForSaleDebtSecuritiesAmortizedCostBasis $630.69M USD Point-in-time
Fixed maturities, available-for-sale, at fair value (amortized cost of $658,463 and $630,688 as of March 31, 2017 and December 31, 2016, respectively) AvailableForSaleSecuritiesDebtSecurities $628.97M USD Point-in-time
Fixed maturities, available-for-sale, at fair value (amortized cost of $658,463 and $630,688 as of March 31, 2017 and December 31, 2016, respectively) AvailableForSaleSecuritiesDebtSecurities $658.64M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $57.32M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $73.30M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $12.54M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $47.75M USD Point-in-time
Premiums receivable PremiumsReceivableAtCarryingValue $15.57M USD Point-in-time
Premiums receivable PremiumsReceivableAtCarryingValue $13.73M USD Point-in-time
Accrued investment income AccruedInvestmentIncomeReceivable $3.90M USD Point-in-time
Accrued investment income AccruedInvestmentIncomeReceivable $3.42M USD Point-in-time
Prepaid expenses PrepaidExpenseCurrentAndNoncurrent $2.94M USD Point-in-time
Prepaid expenses PrepaidExpenseCurrentAndNoncurrent $1.99M USD Point-in-time
Deferred policy acquisition costs, net DeferredPolicyAcquisitionCosts $32.16M USD Point-in-time
Deferred policy acquisition costs, net DeferredPolicyAcquisitionCosts $30.11M USD Point-in-time
Software and equipment, net PropertyPlantAndEquipmentNet $20.40M USD Point-in-time
Software and equipment, net PropertyPlantAndEquipmentNet $21.17M 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
Prepaid reinsurance premiums PrepaidReinsurancePremiums $38.35M USD Point-in-time
Prepaid reinsurance premiums PrepaidReinsurancePremiums $37.92M USD Point-in-time
Deferred tax asset, net DeferredIncomeTaxAssetsNet $51.43M USD Point-in-time
Deferred tax asset, net DeferredIncomeTaxAssetsNet $50.53M USD Point-in-time
Other assets OtherAssets $734.00K USD Point-in-time
Other assets OtherAssets $542.00K USD Point-in-time
Total assets Assets $839.90M USD Point-in-time
Total assets Assets $840.16M USD Point-in-time
Term loan LongTermDebt $144.01M USD Point-in-time
Term loan LongTermDebt $144.35M USD Point-in-time
Unearned premiums UnearnedPremiums $152.91M USD Point-in-time
Unearned premiums UnearnedPremiums $154.71M USD Point-in-time
Accounts payable and accrued expenses AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent $25.30M USD Point-in-time
Accounts payable and accrued expenses AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent $14.18M USD Point-in-time
Reserve for insurance claims and claim expenses LiabilityForClaimsAndClaimsAdjustmentExpense $1.14M USD Point-in-time
Reserve for insurance claims and claim expenses LiabilityForClaimsAndClaimsAdjustmentExpense $3.00M USD Point-in-time
Reserve for insurance claims and claim expenses LiabilityForClaimsAndClaimsAdjustmentExpense $3.76M USD Point-in-time
Reserve for insurance claims and claim expenses LiabilityForClaimsAndClaimsAdjustmentExpense $679.00K USD Point-in-time
Reinsurance funds withheld FundsHeldUnderReinsuranceAgreementsLiability $31.24M USD Point-in-time
Reinsurance funds withheld FundsHeldUnderReinsuranceAgreementsLiability $30.63M USD Point-in-time
Deferred ceding commission DeferredRevenue $4.79M USD Point-in-time
Deferred ceding commission DeferredRevenue $4.83M USD Point-in-time
Warrant liability, at fair value WarrantLiability $3.56M USD Point-in-time
Warrant liability, at fair value WarrantLiability $3.37M USD Point-in-time
Total liabilities Liabilities $364.39M USD Point-in-time
Total liabilities Liabilities $356.25M 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 $576.93M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $578.08M USD Point-in-time
Accumulated other comprehensive loss, net of tax AccumulatedOtherComprehensiveIncomeLossNetOfTax $-5.29M USD Point-in-time
Accumulated other comprehensive loss, net of tax AccumulatedOtherComprehensiveIncomeLossNetOfTax $-4.05M USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-96.72M USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-90.72M USD Point-in-time
Total shareholders' equity StockholdersEquity $402.73M USD Point-in-time
Total shareholders' equity StockholdersEquity $475.51M USD Point-in-time
Total shareholders' equity StockholdersEquity $483.91M USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $839.90M USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $840.16M USD Point-in-time
Income Statement 48 line items
Line Item Tag Value Unit Period
Net premiums earned PremiumsEarnedNet $19.81M USD 1 Quarter
Net premiums earned PremiumsEarnedNet $33.23M USD 1 Quarter
Net investment income NetInvestmentIncome $3.23M USD 1 Quarter
Net investment income NetInvestmentIncome $3.81M USD 1 Quarter
Net realized investment losses AvailableForSaleSecuritiesGrossRealizedGainLossNet $-58.00K USD 1 Quarter
Net realized investment losses AvailableForSaleSecuritiesGrossRealizedGainLossNet $-885.00K USD 1 Quarter
Other revenues OtherSalesRevenueNet $32.00K USD 1 Quarter
Other revenues OtherSalesRevenueNet $80.00K USD 1 Quarter
Total revenues Revenues $37.05M USD 1 Quarter
Total revenues Revenues $22.18M USD 1 Quarter
Insurance claims and claims expenses IncurredClaimsPropertyCasualtyAndLiability $458.00K USD 1 Quarter
Insurance claims and claims expenses IncurredClaimsPropertyCasualtyAndLiability $635.00K USD 1 Quarter
Underwriting and operating expenses OtherCostAndExpenseOperating $25.99M USD 1 Quarter
Underwriting and operating expenses OtherCostAndExpenseOperating $22.67M USD 1 Quarter
Total expenses CostsAndExpenses $26.62M USD 1 Quarter
Total expenses CostsAndExpenses $23.13M USD 1 Quarter
(Loss) gain from change in fair value of warrant liability GainLossonChangeinFairValueofWarrantLiability $-196.00K USD 1 Quarter
(Loss) gain from change in fair value of warrant liability GainLossonChangeinFairValueofWarrantLiability $670.00K USD 1 Quarter
Interest expense InterestExpenseDebt $3.49M USD 1 Quarter
Interest expense InterestExpenseDebt $3.63M USD 1 Quarter
Total other expense OtherNonoperatingIncomeExpense $-3.69M USD 1 Quarter
Total other expense OtherNonoperatingIncomeExpense $-2.96M USD 1 Quarter
Income (loss) before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-3.91M USD 1 Quarter
Income (loss) before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $6.74M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $1.25M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $-52.55M USD Annual
Income tax expense IncomeTaxExpenseBenefit - USD 1 Quarter
Net income (loss) NetIncomeLoss $-3.91M USD 1 Quarter
Net income (loss) NetIncomeLoss $64.00M USD Annual
Net income (loss) NetIncomeLoss $5.49M USD 1 Quarter
Basic earnings (loss) per share (in dollars per share) EarningsPerShareBasic $-0.07 USD 1 Quarter
Basic earnings (loss) per share (in dollars per share) EarningsPerShareBasic $1.08 USD Annual
Basic earnings (loss) per share (in dollars per share) EarningsPerShareBasic $0.09 USD 1 Quarter
Diluted earnings (loss) per share (in dollars per share) EarningsPerShareDiluted $0.09 USD 1 Quarter
Diluted earnings (loss) per share (in dollars per share) EarningsPerShareDiluted $1.05 USD Annual
Diluted earnings (loss) per share (in dollars per share) EarningsPerShareDiluted $-0.07 USD 1 Quarter
Basic weighted average shares outstanding (in shares) WeightedAverageNumberOfSharesOutstandingBasic 58.94M shares 1 Quarter
Basic weighted average shares outstanding (in shares) WeightedAverageNumberOfSharesOutstandingBasic 59.18M shares 1 Quarter
Dilutive weighted average shares outstanding (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 62.34M shares 1 Quarter
Dilutive weighted average shares outstanding (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 58.94M shares 1 Quarter
Net unrealized gains in accumulated other comprehensive income, net of tax expense of $664 and $0 for the quarters ended March 31, 2017 and March 31, 2016, respectively OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $9.10M USD 1 Quarter
Net unrealized gains in accumulated other comprehensive income, net of tax expense of $664 and $0 for the quarters ended March 31, 2017 and March 31, 2016, respectively OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $1.18M USD 1 Quarter
Reclassification adjustment for losses included in net loss (gain), net of tax expense of $0 for the quarters ended March 31, 2017 and 2016 OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax $-885.00K USD 1 Quarter
Reclassification adjustment for losses included in net loss (gain), net of tax expense of $0 for the quarters ended March 31, 2017 and 2016 OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax $-58.00K USD 1 Quarter
Other comprehensive income, net of tax OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $1.23M USD 1 Quarter
Other comprehensive income, net of tax OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $9.99M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $6.08M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $6.72M USD 1 Quarter
Cash Flow Statement 73 line items
Line Item Tag Value Unit Period
Net income (loss) NetIncomeLoss $-3.91M USD 1 Quarter
Net income (loss) NetIncomeLoss $64.00M USD Annual
Net income (loss) NetIncomeLoss $5.49M USD 1 Quarter
Net realized investment losses AvailableForSaleSecuritiesGrossRealizedGainLossNet $-58.00K USD 1 Quarter
Net realized investment losses AvailableForSaleSecuritiesGrossRealizedGainLossNet $-885.00K USD 1 Quarter
Loss (gain) from change in fair value of warrant liability FairValueAdjustmentOfWarrants $196.00K USD 1 Quarter
Loss (gain) from change in fair value of warrant liability FairValueAdjustmentOfWarrants $-670.00K USD 1 Quarter
Depreciation and amortization DepreciationAmortizationAndAccretionNet $990.00K USD 1 Quarter
Depreciation and amortization DepreciationAmortizationAndAccretionNet $1.50M USD 1 Quarter
Net amortization of premium on investment securities AccretionAmortizationOfDiscountsAndPremiumsInvestments $-357.00K USD 1 Quarter
Net amortization of premium on investment securities AccretionAmortizationOfDiscountsAndPremiumsInvestments $-326.00K USD 1 Quarter
Amortization of debt discount and debt issuance costs AmortizationOfFinancingCostsAndDiscounts $403.00K USD 1 Quarter
Amortization of debt discount and debt issuance costs AmortizationOfFinancingCostsAndDiscounts $418.00K USD 1 Quarter
Share-based compensation expense ShareBasedCompensation $1.41M USD 1 Quarter
Share-based compensation expense ShareBasedCompensation $1.91M USD 1 Quarter
Accrued investment income IncreaseDecreaseInAccruedInvestmentIncomeReceivable $479.00K USD 1 Quarter
Accrued investment income IncreaseDecreaseInAccruedInvestmentIncomeReceivable $271.00K USD 1 Quarter
Premiums receivable IncreaseDecreaseInPremiumsReceivable $1.44M USD 1 Quarter
Premiums receivable IncreaseDecreaseInPremiumsReceivable $1.84M USD 1 Quarter
Prepaid expenses IncreaseDecreaseInPrepaidExpense $944.00K USD 1 Quarter
Prepaid expenses IncreaseDecreaseInPrepaidExpense $1.30M USD 1 Quarter
Deferred policy acquisition costs, net IncreaseDecreaseInDeferredPolicyAcquisitionCosts $2.06M USD 1 Quarter
Deferred policy acquisition costs, net IncreaseDecreaseInDeferredPolicyAcquisitionCosts $3.42M USD 1 Quarter
Other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $192.00K USD 1 Quarter
Other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $-16.00K USD 1 Quarter
Deferred tax asset IncreaseDecreaseInDeferredIncomeTaxes - USD 1 Quarter
Deferred tax asset IncreaseDecreaseInDeferredIncomeTaxes $-1.15M USD 1 Quarter
Unearned premiums IncreaseDecreaseInUnearnedPremiums $18.32M USD 1 Quarter
Unearned premiums IncreaseDecreaseInUnearnedPremiums $1.80M USD 1 Quarter
Reserve for insurance claims and claims expenses IncreaseDecreaseInLiabilityForClaimsAndClaimsAdjustmentExpenseReserve $458.00K USD 1 Quarter
Reserve for insurance claims and claims expenses IncreaseDecreaseInLiabilityForClaimsAndClaimsAdjustmentExpenseReserve $760.00K USD 1 Quarter
Reinsurance balances, net IncreaseDecreaseinReinsuranceAssetsandLiabilities $-141.00K USD 1 Quarter
Reinsurance balances, net IncreaseDecreaseinReinsuranceAssetsandLiabilities - USD 1 Quarter
Accounts payable and accrued expenses IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-10.35M USD 1 Quarter
Accounts payable and accrued expenses IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-11.09M USD 1 Quarter
Net cash (used in) provided by operating activities NetCashProvidedByUsedInOperatingActivitiesContinuingOperations $-2.09M USD 1 Quarter
Net cash (used in) provided by operating activities NetCashProvidedByUsedInOperatingActivitiesContinuingOperations $735.00K USD 1 Quarter
Purchase of short-term investments PaymentsToAcquireShortTermInvestments $40.23M USD 1 Quarter
Purchase of short-term investments PaymentsToAcquireShortTermInvestments $38.66M USD 1 Quarter
Purchase of fixed-maturity investments, available-for-sale PaymentsToAcquireAvailableForSaleSecuritiesDebt $60.21M USD 1 Quarter
Purchase of fixed-maturity investments, available-for-sale PaymentsToAcquireAvailableForSaleSecuritiesDebt $31.09M USD 1 Quarter
Proceeds from maturity of short-term investments ProceedsFromSaleOfShortTermInvestments $24.35M USD 1 Quarter
Proceeds from maturity of short-term investments ProceedsFromSaleOfShortTermInvestments $46.84M USD 1 Quarter
Proceeds from redemptions, maturities and sale of fixed-maturity investments, available-for-sale ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities $23.84M USD 1 Quarter
Proceeds from redemptions, maturities and sale of fixed-maturity investments, available-for-sale ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities $65.08M USD 1 Quarter
Software and equipment PaymentsToAcquirePropertyPlantAndEquipment $2.32M USD 1 Quarter
Software and equipment PaymentsToAcquirePropertyPlantAndEquipment $3.07M USD 1 Quarter
Net cash (used in) provided by investing activities NetCashProvidedByUsedInInvestingActivities $15.78M USD 1 Quarter
Net cash (used in) provided by investing activities NetCashProvidedByUsedInInvestingActivities $-31.26M USD 1 Quarter
Proceeds from issuance of common stock related to employee equity plans ProceedsFromIssuanceOfCommonStock $449.00K USD 1 Quarter
Proceeds from issuance of common stock related to employee equity plans ProceedsFromIssuanceOfCommonStock $2.39M USD 1 Quarter
Taxes paid related to net share settlement of equity awards PaymentsRelatedToTaxWithholdingForShareBasedCompensation $3.50M USD 1 Quarter
Taxes paid related to net share settlement of equity awards PaymentsRelatedToTaxWithholdingForShareBasedCompensation $608.00K USD 1 Quarter
Repayments of term loan RepaymentsOfLongTermDebt $375.00K USD 1 Quarter
Repayments of term loan RepaymentsOfLongTermDebt $375.00K USD 1 Quarter
Payments of debt modification costs PaymentsOfDebtIssuanceCosts - USD 1 Quarter
Payments of debt modification costs PaymentsOfDebtIssuanceCosts $370.00K USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-1.86M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-534.00K USD 1 Quarter
Net (decrease) increase in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $15.98M USD 1 Quarter
Net (decrease) increase in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-35.20M USD 1 Quarter
Cash and cash equivalents, beginning of period CashAndCashEquivalentsAtCarryingValue $57.32M 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 $12.54M USD Point-in-time
Cash and cash equivalents, beginning of period CashAndCashEquivalentsAtCarryingValue $47.75M 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 $73.30M USD Point-in-time
Cash and cash equivalents, end of period CashAndCashEquivalentsAtCarryingValue $12.54M USD Point-in-time
Cash and cash equivalents, end of period CashAndCashEquivalentsAtCarryingValue $47.75M USD Point-in-time
Interest paid InterestPaid $3.23M USD 1 Quarter
Interest paid InterestPaid $3.31M USD 1 Quarter
Taxes paid IncomeTaxesPaid $170.00K USD 1 Quarter
Taxes paid IncomeTaxesPaid - USD 1 Quarter
Stockholders Equity 19 line items
Line Item Tag Value Unit Period
Change in unrealized investment gains/losses, tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax $1.18M USD Annual
Change in unrealized investment gains/losses, tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax - USD 1 Quarter
Change in unrealized investment gains/losses, tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax $664.00K USD 1 Quarter
Beginning balance StockholdersEquity $402.73M USD Point-in-time
Beginning balance StockholdersEquity $475.51M USD Point-in-time
Beginning balance StockholdersEquity $483.91M USD Point-in-time
Cumulative effect of change in accounting principle CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption $514.00K USD Point-in-time
Common stock: class A shares issued under stock plans, net of shares withheld for employee taxes StockIssuedDuringPeriodValueEmployeeStockPurchasePlanNetofTaxWithholdings $-224.00K USD Annual
Common stock: class A shares issued under stock plans, net of shares withheld for employee taxes StockIssuedDuringPeriodValueEmployeeStockPurchasePlanNetofTaxWithholdings $-1.11M USD 1 Quarter
Share-based compensation expense AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $2.27M USD 1 Quarter
Share-based compensation expense AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $6.81M USD Annual
Change in unrealized investment gains/losses, net of tax OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax $2.19M USD Annual
Change in unrealized investment gains/losses, net of tax OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax $1.23M USD 1 Quarter
Net income NetIncomeLoss $-3.91M USD 1 Quarter
Net income NetIncomeLoss $64.00M USD Annual
Net income NetIncomeLoss $5.49M USD 1 Quarter
Ending balance StockholdersEquity $402.73M USD Point-in-time
Ending balance StockholdersEquity $475.51M USD Point-in-time
Ending balance StockholdersEquity $483.91M USD Point-in-time
Comprehensive Income 5 line items
Line Item Tag Value Unit Period
Net unrealized investment gains in AOCI, tax amount OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax $1.18M USD Annual
Net unrealized investment gains in AOCI, tax amount OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax - USD 1 Quarter
Net unrealized investment gains in AOCI, tax amount OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax $664.00K USD 1 Quarter
Reclassification adjustment for losses included in net loss (gain), tax amount OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesTax - USD 1 Quarter
Reclassification adjustment for losses included in net loss (gain), 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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