XML 57 R42.htm IDEA: XBRL DOCUMENT v3.24.0.1

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Taxes [Abstract]

Schedule of Components of Our Provision for Income Tax Expense (Benefit)

The components of our provision for income tax expense (benefit) were as follows:

		Year Ended December 31,
		2023				2022				2021
Current income tax expense (benefit)
Federal		$	2,567			$	(11,280	)		$	3,930
State			278				(2	)			354
Total current			2,845				(11,282	)			4,284
Deferred income tax expense (benefit)			(1,882	)			(3,972	)			(1,310	)
Total income tax expense (benefit)		$	963			$	(15,254	)		$	2,974

Schedule of Provision for Income Tax Expense (Benefit)

The provision for income tax expense (benefit) differs from the amount that would be computed by applying the statutory federal rate to income (loss) before income taxes as a result of the following:

		Year Ended December 31,
		2023				2022				2021
Income (loss) before income taxes		$	(4,263	)		$	(69,029	)		$	11,306
Expected provision for federal income taxes at 21%		$	(895	)		$	(14,496	)		$	2,374
State income taxes, net of federal impact			90				(2	)			474
Tax-exempt interest			(204	)			(187	)			(197	)
Dividends received deduction			(118	)			(147	)			(122	)
Section 832(b)(5)(B) proration amount			77				78				72
Compensation-related expenses			27				213				326
Goodwill impairment			1,419				—				—
Research and development credit			(59	)			(70	)			(30	)
Change in valuation allowance			(189	)			(314	)			77
Other			815				(329	)			—
Total income tax expense (benefit)		$	963			$	(15,254	)		$	2,974

Schedule of Deferred Income Tax Assets and Deferred Income Tax Liabilities

The income tax effects of temporary differences that give rise to significant portions of our deferred income tax assets and deferred income tax liabilities at December 31, 2023 and 2022, were as follows:

		December 31,
		2023				2022
Deferred income tax assets:
Unearned premium		$	7,371			$	6,725
Unpaid losses and loss adjustment expenses			1,681				1,430
Net unrealized losses on investments			6,421				6,586
Net operating loss carryovers			851				1,194
Deferred compensation			579				500
Other			1,269				1,465
Total deferred income tax assets			18,172				17,900
Deferred income tax liabilities:
Deferred policy acquisition costs			7,693				6,766
Intangibles			1,243				1,356
Other			318				79
Total deferred income tax liabilities			9,254				8,201
Net deferred income tax asset			8,918				9,699
Valuation allowance			(505	)			(694	)
Deferred income tax asset, net		$	8,413			$	9,005

X

- References

No definition available.

+ Details

Name:	us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Paragraph 9
-Section 50
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-9

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Paragraph 2
-Section 50
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-2

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Paragraph 12
-Section 50
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-12

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration