XML 80 R33.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Quarterly Financial Information (Unaudited)
 12 Months Ended
Dec. 31, 2019
Quarterly Financial Data [Abstract]  
Quarterly Financial Information (Unaudited) QUARTERLY FINANCIAL INFORMATION (Unaudited)
 
 
Three Months Ended (Unaudited)
 
Year Ended
DOLLARS IN MILLIONS, EXCEPT PER SHARE AMOUNTS
 
Mar 31,
2019
 
Jun 30,
2019
 
Sep 30,
2019
 
Dec 31,
2019
 
Dec 31,
2019
Revenues:
 
 
 
 
 
 
 
 
 
 
Earned Premiums
 
$
1,074.8

 
$
1,116.6

 
$
1,135.2

 
$
1,145.8

 
$
4,472.4

Net Investment Income
 
82.7

 
96.0

 
91.7

 
93.9

 
364.3

Other Income
 
1.9

 
22.7

 
7.2

 
3.7

 
35.5

Income (Loss) from Changes in Fair Value of Equity and Convertible Securities
 
64.4

 
25.5

 
9.8

 
39.2

 
138.9

Net Realized Gains on Sales of Investments
 
16.1

 
21.3

 
1.7

 
2.8

 
41.9

Other-than-temporary Impairment Losses:
 
 
 
 
 
 
 
 
 
 
Total Other-than-temporary Impairment Losses
 
(3.5
)
 
(6.7
)
 
(1.8
)
 
(1.7
)
 
(13.7
)
Portion of Losses Recognized in Other Comprehensive Income
 
(0.1
)
 
—

 
—

 
—

 
(0.1
)
Net Impairment Losses Recognized in Earnings
 
(3.6
)
 
(6.7
)
 
(1.8
)
 
(1.7
)
 
(13.8
)
Total Revenues
 
1,236.3

 
1,275.4

 
1,243.8

 
1,283.7

 
5,039.2

Expenses:
 
 
 
 
 
 
 
 
 
 
Policyholders’ Benefits and Incurred Losses and Loss Adjustment Expenses
 
765.4

 
825.4

 
782.6

 
814.9

 
3,188.3

Insurance Expenses
 
234.8

 
263.5

 
256.0

 
265.4

 
1,019.7

Loss from Early Extinguishment of Debt
 
—

 
—

 
5.8

 
—

 
5.8

Interest and Other Expenses
 
41.4

 
38.0

 
37.9

 
46.5

 
163.8

Total Expenses
 
1,041.6

 
1,126.9

 
1,082.3

 
1,126.8

 
4,377.6

Income from Continuing Operations before Income Taxes
 
194.7

 
148.5

 
161.5

 
156.9

 
661.6

Income Tax Expense
 
(39.4
)
 
(26.4
)
 
(32.5
)
 
(32.2
)
 
(130.5
)
Net Income
 
$
155.3

 
$
122.1

 
$
129.0

 
$
124.7

 
$
531.1

Net Income (Loss) Per Unrestricted Share:
 
 
 
 
 
 
 
 
 
 
Basic
 
$
2.38

 
$
1.87

 
$
1.93

 
$
1.87

 
$
8.04

Diluted
 
$
2.35

 
$
1.84

 
$
1.91

 
$
1.85

 
$
7.96

Dividends Paid to Shareholders Per Share
 
$
0.25

 
$
0.25

 
$
0.25

 
$
0.28

 
$
1.03

The sum of quarterly per share amounts may not equal per share amounts for the year due to differences in weighted-average shares and/or equivalent shares outstanding for each of the periods presented.
NOTE 25. QUARTERLY FINANCIAL INFORMATION (Unaudited) (Continued)
 
 
Three Months Ended (Unaudited)
 
Year Ended
DOLLARS IN MILLIONS, EXCEPT PER SHARE AMOUNTS
 
Mar 31,
2018
 
Jun 30,
2018
 
Sep 30,
2018
 
Dec 31,
2018
 
Dec 31,
2018
Revenues:
 
 
 
 
 
 
 
 
 
 
Earned Premiums
 
$
609.8

 
$
658.1

 
$
1,052.9

 
$
1,063.6

 
$
3,384.4

Net Investment Income
 
79.2

 
78.4

 
92.0

 
91.3

 
340.9

Other Income
 
1.2

 
1.2

 
37.8

 
2.0

 
42.2

Income (Loss) from Changes in Fair Value of Equity and Convertible Securities
 
0.7

 
0.4

 
11.0

 
(76.4
)
 
(64.3
)
Net Realized Gains on Sales of Investments
 
2.6

 
3.8

 
3.6

 
16.4

 
26.4

Other-than-temporary Impairment Losses:
 
 
 
 
 
 
 
 
 
 
Total Other-than-temporary Impairment Losses
 
(0.5
)
 
—

 
(1.8
)
 
(2.2
)
 
(4.5
)
Portion of Losses Recognized in Other Comprehensive Income
 
—

 
—

 
—

 
—

 
—

Net Impairment Losses Recognized in Earnings
 
(0.5
)
 
—

 
(1.8
)
 
(2.2
)
 
(4.5
)
Total Revenues
 
693.0

 
741.9

 
1,195.5

 
1,094.7

 
3,725.1

Expenses:
 
 
 
 
 
 
 
 
 
 
Policyholders’ Benefits and Incurred Losses and Loss Adjustment Expenses
 
436.9

 
499.5

 
757.3

 
772.8

 
2,466.5

Insurance Expenses
 
160.1

 
171.2

 
296.0

 
273.2

 
900.5

Interest and Other Expenses
 
29.0

 
25.7

 
61.7

 
42.6

 
159.0

Total Expenses
 
626.0

 
696.4

 
1,115.0

 
1,088.6

 
3,526.0

Income (Loss) from Continuing Operations before Income Taxes
 
67.0

 
45.5

 
80.5

 
6.1

 
199.1

Income Tax Benefit (Expense)
 
(13.4
)
 
(8.0
)
 
11.8

 
(1.1
)
 
(10.7
)
Income from Continuing Operations
 
53.6

 
37.5

 
92.3

 
5.0

 
188.4

Income (Loss) from Discontinued Operations
 
0.2

 
0.1

 
(0.1
)
 
1.5

 
1.7

Net Income
 
$
53.8

 
$
37.6

 
$
92.2

 
$
6.5

 
$
190.1

Income from Continuing Operations Per Unrestricted Share:
 
 
 
 
 
 
 
 
 
 
Basic
 
$
1.03

 
$
0.73

 
$
1.42

 
$
0.08

 
$
3.22

Diluted
 
$
1.02

 
$
0.73

 
$
1.40

 
$
0.08

 
$
3.19

Net Income Per Unrestricted Share:
 
 
 
 
 
 
 
 
 
 
Basic
 
$
1.03

 
$
0.73

 
$
1.42

 
$
0.10

 
$
3.25

Diluted
 
$
1.02

 
$
0.73

 
$
1.40

 
$
0.10

 
$
3.22

Dividends Paid to Shareholders Per Share
 
$
0.24

 
$
0.24

 
$
0.24

 
$
0.24

 
$
0.96

The sum of quarterly per share amounts may not equal per share amounts for the year due to differences in weighted-average shares and/or equivalent shares outstanding for each of the periods presented.