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Consolidated Statements of Earnings and Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Revenues    
Net premiums earned $ 1,605,458 $ 1,604,763
Net investment income 113,476 153,484
Change in the fair value of equity securities (138,777) 112,728
Net realized capital gains (10,003) 12,931
Change in allowance for credit losses on available for sale securities (582) 1,972
Product and service revenues 1,149,162 767,835
Total revenues 2,718,734 2,653,713
Costs and Expenses    
Net loss and loss adjustment expenses 941,787 1,112,070
Commissions, brokerage and other underwriting expenses 477,165 476,036
Other operating expenses 1,028,892 723,889
Corporate administration 10,723 9,558
Amortization of intangible assets 14,082 11,478
Interest expense 32,110 23,752
Total costs and expenses 2,504,759 2,356,783
Earnings before income taxes 213,975 296,930
Income taxes 45,082 58,867
Net earnings 168,893 238,063
Net earnings attributable to noncontrolling interest 43,212 8,022
Net earnings attributable to Alleghany stockholders 125,681 230,041
Net earnings 168,893 238,063
Other comprehensive income (loss):    
Change in unrealized gains, net of deferred taxes of ($163,282) and ($57,932) in 2022 and 2021, respectively (614,251) (217,935)
Change in unrealized currency translation adjustment, net of deferred taxes of ($139) and $654 for 2022 and 2021, respectively (523) 2,461
Retirement plans 130 (965)
Comprehensive (loss) income (437,389) 9,851
Comprehensive income attributable to noncontrolling interests 43,212 8,022
Comprehensive (loss) income attributable to Alleghany stockholders $ (480,601) $ 1,829
Basic earnings per share attributable to Alleghany stockholders $ 9.29 $ 16.44
Diluted earnings per share attributable to Alleghany stockholders $ 9.29 $ 16.37
Accumulated Net Unrealized Investment Gain Loss    
Other comprehensive income (loss):    
Less: reclassification for net realized capital gains and change in allowance for credit losses on available for sale securities, net of taxes of $2,223 and ($3,130) for 2022 and 2021, respectively $ 8,362 $ (11,773)