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Consolidated Statements of Earnings and Comprehensive Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Revenues      
Net premiums earned $ 4,954,990 $ 4,975,777 $ 4,230,286
Net investment income 451,016 438,455 438,817
Net realized capital gains 107,222 63,205 213,897
Other than temporary impairment losses (16,871) (45,165) (133,868)
Other revenue 928,298 698,747 250,346
Total revenues 6,424,655 6,131,019 4,999,478
Costs and Expenses      
Net loss and loss adjustment expenses 3,620,197 2,917,166 2,339,790
Commissions, brokerage and other underwriting expenses [1] 1,651,177 1,657,251 1,423,889
Other operating expenses 967,104 765,226 342,361
Corporate administration 46,998 42,960 46,503
Amortization of intangible assets 19,419 19,012 (2,211)
Interest expense 83,070 81,599 91,778
Total costs and expenses 6,387,965 5,483,214 4,242,110
(Losses) earnings before income taxes 36,690 647,805 757,368
Income taxes (63,802) 187,141 195,173
Net earnings 100,492 460,664 562,195
Net earnings attributable to noncontrolling interest 10,359 3,743 1,880
Net earnings attributable to Alleghany stockholders 90,133 456,921 560,315
Net earnings 100,492 460,664 562,195
Other comprehensive income:      
Change in unrealized gains (losses), net of deferred taxes of $280,526, $36,468 and ($83,332) for 2017, 2016 and 2015, respectively 520,976 67,726 (154,759)
Less: reclassification for net realized capital gains and other than temporary impairment losses, net of taxes of ($25,806), ($36,281) and ($37,044) for 2017, 2016 and 2015, respectively (47,925) (67,380) (68,796)
Change in unrealized currency translation adjustment, net of deferred taxes of $14,344, ($3,889) and ($7,940) for 2017, 2016 and 2015, respectively 26,639 (7,223) (14,746)
Retirement plans (3,755) (112) 990
Comprehensive income 596,427 453,675 324,884
Comprehensive income attributable to noncontrolling interest 10,359 3,743 1,880
Comprehensive (loss)income attributable to Alleghany stockholders $ 586,068 $ 449,932 $ 323,004
Basic earnings per share attributable to Alleghany stockholders $ 5.85 $ 29.60 $ 35.14
Diluted earnings per share attributable to Alleghany stockholders $ 5.85 $ 29.59 $ 35.13
[1] Includes amortization associated with deferred acquisition costs of $1,261.7 million, $1,253.2 million and $1,024.5 million for the years ended December 31, 2017, 2016 and 2015, respectively.