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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Premiums written:      
Direct $ 1,124,196 $ 1,103,332 $ 1,121,776
Assumed 6,446 271 1,905
Ceded (129,334) (111,341) (125,726)
Net premiums written 1,001,308 992,262 997,955
Decrease (increase) in unearned premiums 29,680 (17,100) (63,208)
Net premiums earned 1,030,988 975,162 934,747
Investment income, net of expenses 167,045 141,331 120,871
Net realized investment gains (losses) 5,306 (1,353) 231
Other revenue 10,638 8,708 10,205
Total revenues 1,213,977 1,123,848 1,066,054
Losses and expenses:      
Losses incurred, net 118,575 36,562 53,709
Amortization of deferred policy acquisition costs 12,001 11,932 11,111
Other underwriting and operating expenses, net 182,768 178,211 159,638
Interest expense 52,656 52,993 57,035
Loss on debt extinguishment 0 0 65
Total losses and expenses 366,000 279,698 281,558
Income before tax 847,977 844,150 784,496
Provision for income taxes 174,214 174,053 428,735
Net income $ 673,763 $ 670,097 $ 355,761
Earnings per share:      
Basic (in dollars per share) $ 1.91 $ 1.83 $ 0.98
Diluted (in dollars per share) $ 1.85 $ 1.78 $ 0.95
Weighted average common shares outstanding - basic (in shares) 352,827 365,406 362,380
Weighted average common shares outstanding - diluted (in shares) 373,924 386,078 394,766