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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Revenues        
Net premiums earned $ 941,211 $ 1,000,400 $ 1,845,264 $ 1,946,349
Net investment income 88,544 114,867 180,651 197,610
Other insurance related income 3,486 1,683 11,162 4,766
Net realized investment gains (losses):        
Other-than-temporary impairment (OTTI) losses (12,893) (1,905) (30,461) (2,690)
Other realized investment gains (losses) 1,783 35,166 (23,201) 46,572
Total net realized investment gains (losses) (11,110) 33,261 (53,662) 43,882
Total revenues 1,022,131 1,150,211 1,983,415 2,192,607
Expenses        
Net losses and loss expenses 580,153 565,829 1,092,481 1,110,036
Acquisition costs 183,263 191,862 354,805 363,899
General and administrative expenses 148,482 151,081 311,723 303,810
Foreign exchange losses (gains) 22,108 9,705 (41,112) 13,939
Interest expense and financing costs 12,939 19,975 25,196 36,569
Total expenses 946,945 938,452 1,743,093 1,828,253
Income before income taxes 75,186 211,759 240,322 364,354
Income tax expense 1,815 9,500 1,125 13,625
Net income 73,371 202,259 239,197 350,729
Amounts attributable to noncontrolling interests 0 1,573 0 2,795
Net income attributable to AXIS Capital 73,371 200,686 239,197 347,934
Preferred share dividends 10,022 10,022 20,044 20,044
Net income available to common shareholders $ 63,349 $ 190,664 $ 219,153 $ 327,890
Net income per common share:        
Basic net income $ 0.63 $ 1.81 $ 2.19 $ 3.06
Diluted net income $ 0.63 $ 1.79 $ 2.17 $ 3.03
Weighted average number of common shares outstanding - basic 100,274 105,118 100,093 107,075
Weighted average number of common shares outstanding - diluted 101,160 106,289 101,151 108,329
Cash dividends declared per common share $ 0.29 $ 0.27 $ 0.58 $ 0.54