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Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Revenues        
Net premiums earned $ 256,853 $ 245,222 $ 502,020 $ 481,666
Investment income, net of investment expenses 17,249 12,184 30,741 24,769
Net realized investment gains (losses) (includes reclassifications for net unrealized investment gains/(losses) on available-for-sale securities of ($196) and ($159) in 2018 and $1,975 and $5,380 in 2017; previously included in accumulated other comprehensive income) 1,297 1,081 (6,567) 3,330
Total revenues 275,399 258,487 526,194 509,765
Benefits, Losses and Expenses        
Losses and loss settlement expenses 189,146 188,596 333,874 345,148
Amortization of deferred policy acquisition costs 50,810 51,398 100,449 101,859
Other underwriting expenses (includes reclassifications for employee benefit costs of $1,661 and $3,321 in 2018 and $1,352 and $2,704 in 2017; previously included in accumulated other comprehensive income) 37,252 22,824 72,107 44,083
Total benefits, losses and expenses 277,208 262,818 506,430 491,090
Income (loss) from continuing operations before income taxes (1,809) (4,331) 19,764 18,675
Federal income tax benefit (includes reclassifications of $390 and $731 in 2018 and ($219) and ($937) in 2017; previously included in accumulated other comprehensive income) (1,966) (4,440) (757) (18)
Income from continuing operations 157 109 20,521 18,693
Income (loss) from discontinued operations, net of taxes 0 2,849 (1,912) 4,201
Gain on sale of discontinued operations, net of taxes 0 0 27,307 0
Net income 157 2,958 45,916 22,894
Other comprehensive income        
Change in net unrealized appreciation on investments (6,199) 30,653 (58,013) 45,619
Change in liability for underfunded employee benefit plans 0 0 0 0
Other comprehensive income (loss), before tax and reclassification adjustments (6,199) 30,653 (58,013) 45,619
Income tax effect 1,301 (10,729) 12,182 (15,967)
Other comprehensive income (loss), after tax, before reclassification adjustments (4,898) 19,924 (45,831) 29,652
Reclassification adjustment for net realized investment (gains) losses included in income 196 (1,975) 159 (5,380)
Reclassification adjustment for employee benefit costs included in expense 1,661 1,352 3,321 2,704
Total reclassification adjustments, before tax 1,857 (623) 3,480 (2,676)
Income tax effect (390) 219 (731) 937
Total reclassification adjustments, after tax 1,467 (404) 2,749 (1,739)
Comprehensive income (loss) $ (3,274) $ 22,478 $ 2,834 $ 50,807
Diluted weighted average common shares outstanding (in shares) 25,611,773 25,624,686 25,582,708 25,752,525
Earnings per common share from continuing operations:        
Basic (in dollars per share) $ 0.01 $ 0.01 $ 0.82 $ 0.74
Diluted (in dollars per share) 0.01 0.01 0.80 0.73
Earnings per common share:        
Basic (in dollars per share) 0.01 0.12 1.84 0.91
Diluted (in dollars per share) $ 0.01 $ 0.12 $ 1.80 $ 0.89