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Condensed Consolidated Balance Sheets (Unaudited) Statement - USD ($)
$ in Thousands
Jun. 30, 2018
Dec. 31, 2017
ASSETS    
Fixed-maturities available for sale—at fair value (amortized cost $3,659,311 and $3,426,217) $ 3,586,055 $ 3,458,719
Trading Securities—at fair value 535,634 606,401
Equity Securities-at fair value 122,977  
Equity securities available for sale—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 $39,224 and $19,357 of reinvested cash collateral held under securities lending agreements) 626,060 415,658
Other invested assets—at fair value (amortized cost at December 31, 2017) 3,193 334
Total investments 4,873,919 4,643,942
Cash 95,573 80,569
Restricted cash 9,152 15,675
Accounts and notes receivable 94,848 72,558
Property, Plant and Equipment, Net [1] 90,184 87,042
Deferred income taxes, net (Note 9) 171,293 229,567
Goodwill and other intangible assets, net (Note 6) 59,179 64,212
Prepaid reinsurance premium 405,447 386,509
Other assets (Note 8) 430,077 407,849
Total assets 6,139,488 5,900,881
Liabilities and Stockholders’ Equity    
Unearned premiums 741,296 723,938
Reserve for losses and loss adjustment expense (“LAE”) (Note 10) 451,542 507,588
Senior notes (Note 11) 1,028,687 1,027,074
Reinsurance funds withheld 331,776 288,398
Other liabilities (Note 12) 385,051 353,845
Total liabilities 2,938,352 2,900,843
Commitments and contingencies (Note 13)
Stockholders’ equity    
Common stock: par value $0.001 per share; 485,000,000 shares authorized at June 30, 2018 and December 31, 2017; 230,875,884 and 233,416,989 shares issued at June 30, 2018 and December 31, 2017, respectively; 213,232,370 and 215,814,188 shares outstanding at June 30, 2018 and December 31, 2017, respectively 231 233
Treasury stock, at cost: 17,643,514 and 17,602,801 shares at June 30, 2018 and December 31, 2017, respectively (894,610) (893,888)
Additional paid-in capital 2,715,426 2,754,275
Retained earnings 1,438,032 1,116,333
Accumulated other comprehensive income (loss) (Note 15) (57,943) 23,085
Total stockholders’ equity 3,201,136 3,000,038
Total liabilities and stockholders’ equity 6,139,488 5,900,881
Deferred policy acquisition costs 16,266 16,987
Accrued Investment Income Receivable $ 33,762 $ 31,389
[1] Property and equipment at cost, less accumulated depreciation of $115.5 million and $106.0 million at June 30, 2018 and December 31, 2017, respectively. Depreciation expense was $4.8 million and $4.1 million for the three-month periods ended June 30, 2018 and 2017, respectively, and $9.5 million and $8.3 million for the six-month periods ended June 30, 2018 and 2017, respectively.