v3.25.2
Supplemental Balance Sheet and Cash Flow Information (Tables)
 6 Months Ended
Jun. 30, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Restricted Cash and Cash Equivalents As of June 30, 2025 and 2024, cash and cash equivalents and restricted cash and cash equivalents were as follows:
June 30,
20252024
in thousands
Cash and cash equivalents$140,300 $120,936 
Restricted cash and cash equivalents190,286 194,586 
Total cash and cash equivalents and restricted cash and cash equivalents
$330,586 $315,522 
Schedule of Cash and Cash Equivalents As of June 30, 2025 and 2024, cash and cash equivalents and restricted cash and cash equivalents were as follows:
June 30,
20252024
in thousands
Cash and cash equivalents$140,300 $120,936 
Restricted cash and cash equivalents190,286 194,586 
Total cash and cash equivalents and restricted cash and cash equivalents
$330,586 $315,522 
Schedule of Restricted Assets
The following table presents the components of the Company's restricted assets as of June 30, 2025 and December 31, 2024:

Balance Sheet ClassificationJune 30,December 31,
20252024
in thousands
Cash and cash equivalents Restricted cash and cash equivalents$190,286 $128,061 
Fixed maturity securitiesInvestments589,118 577,688 
Equity securitiesInvestments12,456 11,839 
Total restricted assets$791,860 $717,588 
Schedule of Assets and Liabilities of Consolidated Variable Interest Entities
The following table presents the assets and liabilities of the Company's consolidated VIEs as of June 30, 2025 and December 31, 2024:

June 30,December 31,
20252024
ASSETSin thousands
Cash and cash equivalents$802 $1,746 
Restricted cash and cash equivalents4,431 1,221 
Notes receivable64,646 49,337 
Other assets1,448 1,961 
TOTAL ASSETS$71,327 $54,265 
LIABILITIES
Accounts payable, accrued expenses and other current liabilities (1)
$23,924 $999 
Long-term debt, net17,275 30,193 
TOTAL LIABILITIES$41,199 $31,192 
(1)    As of June 30, 2025, Accounts payable, accrued expenses and other current liabilities includes the current portion of outstanding borrowings under the BAC Credit Facility (as defined in Note 15 — Debt) totaling $21.6 million.
Schedule of Supplemental Cash Flow Information The table below presents information regarding the Company's non-cash investing and financing activities, as well as the cash paid for interest and taxes for the six months ended June 30, 2025 and 2024:
Six months ended June 30,
20252024
Non-cash investing activities:in thousands
Issuance of notes receivable (1)
$9,816 $2,474 
Collection of notes receivable (1)
$1,884 $6,478 
Capital expenditures$801 $212 
Non-cash financing activities:
Exchange of THG units for Class A Common Stock (Refer to Note 17)
$712 $1,172 
Cash paid for:
Interest$4,337 $3,454 
Income taxes$11,794 $15,800 
(1)    In certain situations, BAC makes loans to refinance accounts receivable balances generated by Broad Arrow Group, Inc. ("Broad Arrow") auctions and private sales. These loans are accounted for on the Condensed Consolidated Balance Sheets as non-cash reclassifications between "Accounts receivable" and "Notes receivable" and are not presented within Investing Activities in the Company's Condensed Consolidated Statements of Cash Flows. Upon repayment, the cash received in settlement of such loans is classified within Operating Activities in the Company's Condensed Consolidated Statements of Cash Flows.