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Condensed Consolidated Balance Sheets (Unaudited) Statement - USD ($)
$ in Thousands
Mar. 31, 2018
Dec. 31, 2017
ASSETS    
Fixed-maturities available for sale—at fair value (amortized cost $3,594,591 and $3,426,217) $ 3,554,734 $ 3,458,719
Trading Securities—at fair value 563,377 606,401
Equity Securities 111,032  
Equity securities—at fair value (at December 31, 2017, classified as available for sale with related cost of $163,106)   162,830
Short-term investments—at fair value (includes $39,077 and $19,357 of reinvested cash collateral held under securities lending agreements) 435,756 415,658
Other invested assets—at fair value (amortized cost at December 31, 2017) 3,318 334
Total investments 4,668,217 4,643,942
Cash 122,481 80,569
Restricted cash 7,623 15,675
Accounts and notes receivable 80,068 72,558
Property, Plant and Equipment, Net [1] 87,332 87,042
Deferred income taxes, net (Note 9) 253,381 229,567
Goodwill and other intangible assets, net (Note 6) 61,465 64,212
Prepaid reinsurance premium 390,241 386,509
Other assets (Note 8) 426,773 407,849
Total assets 6,010,249 5,900,881
Liabilities and Stockholders’ Equity    
Unearned premiums 723,100 723,938
Reserve for losses and loss adjustment expense (“LAE”) (Note 10) 488,656 507,588
Senior notes (Note 11) 1,027,875 1,027,074
Reinsurance funds withheld 305,409 288,398
Other liabilities (Note 12) 412,793 353,845
Total liabilities 2,957,833 2,900,843
Commitments and contingencies (Note 13)
Stockholders’ equity    
Common stock: par value $0.001 per share; 485,000,000 shares authorized at March 31, 2018 and December 31, 2017; 233,160,146 and 233,416,989 shares issued at March 31, 2018 and December 31, 2017, respectively; 215,542,607 and 215,814,188 shares outstanding at March 31, 2018 and December 31, 2017, respectively 233 233
Treasury stock, at cost: 17,617,539 and 17,602,801 shares at March 31, 2018 and December 31, 2017, respectively (894,191) (893,888)
Additional paid-in capital 2,748,233 2,754,275
Retained earnings 1,229,616 1,116,333
Accumulated other comprehensive income (loss) (Note 15) (31,475) 23,085
Total stockholders’ equity 3,052,416 3,000,038
Total liabilities and stockholders’ equity 6,010,249 5,900,881
Deferred policy acquisition costs 16,026 16,987
Accrued Investment Income Receivable $ 33,542 $ 31,389
[1] Property and equipment at cost, less accumulated depreciation of $112.1 million and $106.0 million at March 31, 2018 and December 31, 2017, respectively. Depreciation expense was $4.7 million and $4.1 million for the three-month periods ended March 31, 2018 and 2017, respectively.