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First Trinity Financial CORP
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| Income Statement |
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Annual | Quarterly | TTM |
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| In millions, except per share items | Dec-31-22 | Dec-31-21 | Dec-31-20 | Dec-31-19 | Dec-31-18 | Dec-31-17 | Dec-31-16 | Dec-31-15 |
| | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K |
| Revenues: |
| Life insurance operations | 41.8 | 36.7 | 32.2 | 27.2 | 22.0 | 18.3 | 15.0 | 11.8 |
| Annuity operations | 21.4 | 19.8 | 19.7 | 21.9 | 16.7 | 14.1 | 11.1 | 9.6 |
| Corporate Segment | 2.4 | 0.6 | 0.8 | 0.7 | 0.5 | 0.4 | 0.6 | 0.4 |
| Total revenues | 65.6 | 57.1 | 52.8 | 49.8 | 39.2 | 32.7 | 26.7 | 21.9 |
| Revenue growth | 14.8% | 8.2% | 6.1% | 26.8% | 19.9% | 22.5% | 22.0% | 22.5% |
| Loss and loss adjustment expenses | | | | | | 19.9 | 16.6 | 13.4 |
| Policy acquisition costs | 7.3 | 6.9 | 5.3 | 4.0 | 3.5 | 2.9 | 2.2 | 1.6 |
| Investment expenses | 3.3 | 2.6 | 3.5 | 2.6 | 2.6 | 2.5 | 1.8 | 1.3 |
| Other operating expenses | 47.0 | 43.9 | 39.9 | 34.9 | 26.6 | 5.2 | 3.7 | 3.7 |
| EBITDA | 15.5 | 10.9 | 4.2 | -39.2 | -28.5 | -35.1 | -25.4 | -9.0 |
| EBITDA margin | 23.7% | 19.1% | 8.0% | -78.7% | -72.5% | -107.3% | -95.0% | -41.3% |
| Depreciation | 7.6 | 7.3 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.2 |
| EBIT | 8.0 | 3.7 | 4.1 | -39.3 | -28.6 | -35.3 | -25.5 | -9.3 |
| EBIT margin | 12.2% | 6.4% | 7.7% | -79.0% | -72.9% | -107.8% | -95.6% | -42.4% |
| Interest income | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 11.2 |
| Interest income | | | | | | | | 11.2 |
| Pre-tax income | 8.0 | 3.7 | 4.1 | 8.2 | 6.6 | 2.3 | 2.4 | 2.0 |
| Income taxes | 1.8 | 0.8 | 0.9 | 2.1 | 1.5 | 1.4 | -0.2 | -0.4 |
| Tax rate | 22.4% | 22.2% | 22.1% | 25.8% | 22.1% | 58.6% | | |
| Net income | 6.2 | 2.9 | 3.2 | 6.1 | 5.1 | 1.0 | 2.6 | 2.4 |
| Net margin | 9.4% | 5.0% | 6.0% | 12.3% | 13.1% | 3.0% | 9.7% | 10.9% |
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| Basic EPS | $0.65 | $0.33 | $0.36 | $0.71 | $0.66 | $0.12 | $0.33 | $0.31 |
| Diluted EPS | $0.65 | $0.33 | $0.36 | $0.71 | $0.66 | $0.12 | $0.33 | $0.31 |
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| Shares outstanding (basic) | 9.5 | 8.8 | 8.8 | 8.6 | 7.8 | 7.8 | 7.8 | 7.8 |
| Shares outstanding (diluted) | 9.5 | 8.8 | 8.8 | 8.6 | 7.8 | 7.8 | 7.8 | 7.8 |
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| EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |
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