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Consolidated Statements of Income and Comprehensive Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Revenues      
Net premiums earned $ 997,492 $ 936,131 $ 851,695
Investment income, net of investment expenses 51,190 55,284 46,559
Net realized investment gains (includes reclassifications for net unrealized gains on available-for-sale securities of $6,390 in 2017; $4,520 in 2016; and $4,513 in 2015 previously included in accumulated other comprehensive income) 4,055 4,947 1,124
Other income (loss) 0 0 (107)
Total revenues 1,052,737 996,362 899,271
Benefits, losses and expenses      
Losses and loss settlement expenses 725,713 652,433 520,087
Amortization of deferred policy acquisition costs 207,746 202,892 180,183
Other underwriting expenses (includes reclassifications for employee benefit costs of $5,408 in 2017; $5,486 in 2016; and $7,468 in 2015 previously included in accumulated other comprehensive income) 103,628 83,540 83,631
Total benefits, losses and expenses 1,037,087 938,865 783,901
Income from continuing operations before income taxes 15,650 57,497 115,370
Federal income tax expense (benefit) (includes reclassifications of ($344) in 2017; $338 in 2016; and $1,034 in 2015 previously included in accumulated other comprehensive income) (29,220) 8,379 30,050
Net income from continuing operations 44,870 49,118 85,320
Income from discontinued operations, net of taxes 6,153 786 3,806
Net income 51,023 49,904 89,126
Other comprehensive income (loss)      
Change in net unrealized appreciation on investments 72,251 13,017 (28,185)
Change in liability for underfunded employee benefit plans (26,122) 30,045 8,714
Other comprehensive income (loss), before tax and reclassification adjustments 46,129 43,062 (19,471)
Income tax effect (17,540) (15,072) 6,814
Other comprehensive income (loss), after tax, before reclassification adjustments 28,589 27,990 (12,657)
Reclassification adjustment for net realized gains included in income (6,390) (4,520) (4,513)
Reclassification adjustment for employee benefit costs included in expense 5,408 5,486 7,468
Total reclassification adjustments, before tax (982) 966 2,955
Income tax effect 344 (338) (1,034)
Total reclassification adjustments, after tax (638) 628 1,921
Comprehensive income $ 78,974 $ 78,522 $ 78,390
Weighted average common shares outstanding (in shares) 25,103,720 25,335,706 25,047,405
Earnings per common share from continuing operations:      
Basic (in dollars per share) $ 1.79 $ 1.94 $ 3.41
Diluted (in dollars per share) 1.75 1.90 3.38
Earnings per common share:      
Basic (in dollars per share) 2.03 1.97 3.56
Diluted (in dollars per share) $ 1.99 $ 1.93 $ 3.53