XML 40 R4.htm IDEA: XBRL DOCUMENT v3.19.3
Consolidated Statements of Earnings and Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Revenues        
Net premiums earned $ 1,389,981 $ 1,225,346 $ 4,043,298 $ 3,670,161
Net investment income 147,829 127,329 413,623 377,728
Change in the fair value of equity securities (16,691) 370,175 519,322 512,771
Net realized capital gains 3,957 16,230 20,753 67,197
Other than temporary impairment losses (3,597) (3) (13,617) (514)
Noninsurance revenue 638,478 438,338 1,756,507 1,032,690
Total revenues 2,159,957 2,177,415 6,739,886 5,660,033
Costs and Expenses        
Net loss and loss adjustment expenses 907,736 957,703 2,497,037 2,366,491
Commissions, brokerage and other underwriting expenses 449,519 407,679 1,313,961 1,216,057
Other operating expenses 617,326 415,378 1,701,218 1,023,440
Corporate administration 22,276 19,094 67,612 40,998
Amortization of intangible assets 8,095 5,500 23,790 16,730
Interest expense 25,703 22,189 74,363 65,997
Total costs and expenses 2,030,655 1,827,543 5,677,981 4,729,713
Earnings before income taxes 129,302 349,872 1,061,905 930,320
Income taxes 28,010 60,413 207,878 171,275
Net earnings 101,292 289,459 854,027 759,045
Net earnings attributable to noncontrolling interest 10,860 4,559 27,909 7,454
Net earnings attributable to Alleghany stockholders 90,432 284,900 826,118 751,591
Net earnings 101,292 289,459 854,027 759,045
Other comprehensive income (loss):        
Change in unrealized gains (losses), net of deferred taxes 86,215 (33,601) 442,205 (213,263)
Less: reclassification for net realized capital gains and other than temporary impairments, net of taxes (4,892) (12,819) (10,246) (16,546)
Change in unrealized currency translation adjustment, net of deferred taxes (10,343) (1,530) (8,054) (6,953)
Retirement plans 322 (551) 1,363 (1,664)
Comprehensive income 172,594 240,958 1,279,295 520,619
Comprehensive income attributable to noncontrolling interests 10,860 4,559 27,909 7,454
Comprehensive income attributable to Alleghany stockholders $ 161,734 $ 236,399 $ 1,251,386 $ 513,165
Basic earnings per share attributable to Alleghany stockholders $ 6.27 $ 19.07 $ 57.18 $ 49.55
Diluted earnings per share attributable to Alleghany stockholders $ 6.27 $ 19.07 $ 57.14 $ 49.53