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Consolidated Statements of Earnings and Comprehensive Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Revenues      
Net premiums earned $ 6,000,161 $ 5,478,143 $ 4,976,190
Net investment income 490,856 550,241 500,534
Change in the fair value of equity securities (110,459) 709,695 (228,994)
Net realized capital gains 3,098 (6,551) (3,241)
Change in allowance for credit losses on available for sale securities (8,029)    
Change in allowance for credit losses on available for sale securities   (19,660) (1,328)
Noninsurance revenue 2,521,092 2,328,848 1,643,999
Total revenues 8,896,719 9,040,716 6,887,160
Costs and Expenses      
Net loss and loss adjustment expenses 4,339,046 3,686,435 3,520,431
Commissions, brokerage and other underwriting expenses [1] 1,789,820 1,758,698 1,617,333
Other operating expenses 2,429,262 2,263,326 1,579,309
Corporate administration 48,581 74,830 15,732
Amortization of intangible assets 44,241 33,834 24,039
Interest expense 88,152 99,957 90,724
Total costs and expenses 8,739,102 7,917,080 6,847,568
Earnings (losses) before income taxes 157,617 1,123,636 39,592
Income taxes 30,734 233,435 (15,062)
Net earnings 126,883 890,201 54,654
Net earnings attributable to noncontrolling interests 25,129 32,400 15,115
Net earnings attributable to Alleghany stockholders 101,754 857,801 39,539
Net earnings 126,883 890,201 54,654
Other comprehensive income (loss):      
Change in unrealized gains (losses), net of deferred taxes 277,040 402,957 (212,539)
Change in unrealized currency translation adjustment, net of deferred taxes 22,366 2,933 (21,902)
Retirement plans 14,754 (12,153) 3,071
Comprehensive income (loss) 407,935 1,263,554 (164,959)
Comprehensive income attributable to noncontrolling interests 25,129 32,400 15,115
Comprehensive income (loss) attributable to Alleghany stockholders $ 382,806 $ 1,231,154 $ (180,074)
Basic earnings per share attributable to Alleghany stockholders $ 7.14 $ 59.44 $ 2.62
Diluted earnings per share attributable to Alleghany stockholders $ 7.04 $ 59.39 $ 2.62
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 $ (33,108) $ (20,384) $ 11,757
[1] Includes amortization associated with deferred acquisition costs of $1,457.0 million, $1,392.8 million and $1,271.4 million for the years ended December 31, 2020, 2019 and 2018, respectively.