XML 22 R3.htm IDEA: XBRL DOCUMENT v3.10.0.1
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
$ in Thousands
Dec. 31, 2018
Dec. 31, 2017
Current Assets:    
Cash and cash equivalents $ 438,961 $ 573,383
Restricted cash and investments 338,635 250,705
Short-term investments 12,868 24,965
Premiums, commissions and fees receivable 844,815 546,402
Reinsurance recoverable 65,396 477,820
Prepaid reinsurance premiums 337,920 321,017
Other current assets 128,716 47,864
Total current assets 2,167,311 2,242,156
Fixed assets, net 100,395 77,086
Goodwill 3,432,786 2,716,079
Amortizable intangible assets, net 898,807 641,005
Investments 17,394 13,949
Other assets 71,975 57,275
Total assets 6,688,668 5,747,550
Current Liabilities:    
Premiums payable to insurance companies 857,559 685,163
Losses and loss adjustment reserve 65,212 476,721
Unearned premiums 337,920 321,017
Premium deposits and credits due customers 105,640 91,648
Accounts payable 87,345 64,177
Accrued expenses and other liabilities 279,310 228,748
Current portion of long-term debt 50,000 120,000
Total current liabilities 1,782,986 1,987,474
Long-term debt less unamortized discount and debt issuance costs 1,456,990 856,141
Deferred income taxes, net 315,732 256,185
Other liabilities 132,392 65,051
Shareholders’ Equity:    
Common stock, par value $0.10 per share; authorized 560,000 shares; issued 293,380 shares and outstanding 279,583 shares at 2018, issued 286,929 shares and outstanding 276,210 shares at 2017 - in thousands. 2017 share amounts reflect the 2-for-1 stock split effective March 28, 2018 29,338 28,689
Additional paid-in capital 615,180 483,733
Treasury stock, at cost at 13,797 and 10,719 shares at 2018 and 2017, respectively - in thousands (477,572) (386,322)
Retained earnings 2,833,622 2,456,599
Total shareholders’ equity 3,000,568 2,582,699
Total liabilities and shareholders’ equity $ 6,688,668 $ 5,747,550