Additional
Paid-in Capital Original
Reqmts. |
|
Additional
Paid-in Capital Policyholder
Dividends |
|
Accumulated
Other
Compr. (Loss) Income |
|
|
Total
Shareholders’
Equity |
|
|
|
| |
Balance at
January 1, 2010 |
$ 1,320 |
$ 298,622 |
$ 484,001 |
$ 8,862,640 |
$ (1,180,001) |
$ 7,935,184 |
$ 16,401,766 |
$ 732 |
|
| |
Redemption of 8 shares
 of Class A* |
(160) |
— |
— |
— |
— |
— |
(160) |
|
|
| |
Other comprehensive
income |
— |
— |
— |
— |
2,375,647 |
— |
2,375,647 |
|
|
| |
Net loss |
— |
— |
— |
— |
— |
(38,200) |
(38,200) |
|
|
| |
Balance at
December 31, 2010 |
1,160 |
298,622 |
484,001 |
8,862,640 |
1,195,646 |
7,896,984 |
18,739,053 |
$ 837 |
|
| |
Issuance of 1 share
of Class A |
20 |
— |
— |
— |
— |
— |
20 |
|
|
| |
Redemption of 2 shares
of Class A*
|
(40)
|
— |
— |
— |
— |
— |
(40) |
|
| |
Other comprehensive
income
|
—
|
— |
— |
— |
248,631 |
— |
248,631 |
|
|
| |
Net loss |
— |
— |
— |
— |
— |
(3,133,931) |
(3,133,931) |
|
|
| |
Balance at
December 31, 2011 |
$ 1,140 |
$ 298,622 |
$ 484,001 |
$ 8,862,640 |
$ 1,444,277 |
$ 4,763,053 |
$ 15,853,733 |
$ 708 |
| |
|
|
|
|
|
|
|
|
|
|
|
* Pursuant to the terms of the participation agreement, consideration for redemption of Class B shares associated with the tendered A shares
may not be paid for a period of up to five years from the date of the shareholder's withdrawal, as further described in Note G.
Note: Johnson Lambert & Co. LLP, Certified Public Accountants has audited the financial statements of The National Catholic Risk Retention Group, Inc. and Subsidiaries for the years ended December 31, 2011 and 2010 prepared in conformity with generally accepted accounting principles in the United States, and issued an unqualified opinion on such financial statements in their report dated April 4, 2012. The auditor's report applies to the complete financial statements which are not presented.
These consolidated balance sheets, consolidated statements of operations and comprehensive income, consolidated statements of changes in shareholders’ equity and consolidated statements of cash flows of The National Catholic Risk Retention Group, Inc. and Subsidiaries for the years ended December 31, 2011 and 2010 were derived from the audited financial statements. The complete audited financial statements may be obtained from The National Catholic Risk Retention Group, Inc. and Subsidiaries at 801 Warrenville Road, Suite 175, Lisle, IL 60532-4334. |
|