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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Revenues:      
Direct premiums $ 2,562,109 $ 2,444,268 $ 2,345,444
Ceded premiums (1,600,771) (1,600,559) (1,595,220)
Net premiums 961,338 843,709 750,224
Commissions and fees 591,317 541,686 537,146
Investment income net of investment expenses 105,882 97,905 89,557
Interest expense on surplus note (26,865) (18,880) (13,048)
Net investment income 79,017 79,025 76,509
Realized investment gains (losses), including other-than- temporary impairment losses 1,339 4,088 (1,738)
Other, net 56,091 50,576 42,058
Total revenues 1,689,102 1,519,084 1,404,199
Benefits and expenses:      
Benefits and claims 416,019 367,655 339,315
Amortization of deferred policy acquisition costs 209,399 180,582 157,727
Sales commissions 297,988 272,815 274,893
Insurance expenses 147,280 132,348 123,030
Insurance commissions 21,108 17,783 16,340
Interest expense 28,488 28,691 33,507
Other operating expenses 189,300 181,615 168,406
Total benefits and expenses 1,309,582 1,181,489 1,113,218
Income before income taxes 379,520 337,595 290,981
Income taxes 29,265 118,181 101,110
Net income $ 350,255 $ 219,414 $ 189,871
Earnings per share:      
Basic earnings per share $ 7.63 $ 4.59 $ 3.70
Diluted earnings per share $ 7.61 $ 4.59 $ 3.70
Weighted-average shares used in computing earnings per share:      
Basic 45,598 47,411 50,881
Diluted 45,689 47,453 50,913
Supplemental disclosures:      
Total impairment losses $ (1,700) $ (3,420) $ (6,893)
Impairment losses recognized in other comprehensive income before income taxes 147    
Net impairment losses recognized in earnings (1,553) (3,420) (6,893)
Other net realized investment gains 2,892 7,508 5,155
Realized investment gains (losses), including other-than- temporary impairment losses $ 1,339 $ 4,088 $ (1,738)
Dividends declared per share $ 0.78 $ 0.70 $ 0.64