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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenues:        
Net premiums earned (Note 7) $ 249,295 $ 299,166 [1] $ 526,710 $ 562,678 [1]
Services revenue (Note 3) 28,075 39,303 60,002 72,056
Net investment income 38,723 43,761 79,667 87,608
Net gains (losses) on investments and other financial instruments 47,276 12,540 25,249 34,453
Other income 1,072 194 1,894 1,798
Total revenues 364,441 394,964 693,522 758,593
Expenses:        
Provision for losses 304,418 47,427 340,369 68,181
Policy acquisition costs 6,015 6,203 13,428 12,096
Cost of services 17,972 27,845 40,113 52,002
Other operating expenses 60,582 70,046 129,692 148,851
Interest expense 16,699 14,961 28,893 30,658
Loss on extinguishment of debt 0 16,798 0 16,798
Amortization and impairment of other acquired intangible assets 979 2,139 1,958 4,326
Total expenses 406,665 185,419 554,453 332,912
Consolidated pretax income (loss) (42,224) 209,545 139,069 425,681
Income tax provision (benefit) (12,273) 42,815 28,559 87,994
Net income (loss) $ (29,951) $ 166,730 $ 110,510 $ 337,687
Earnings Per Share, Basic [Abstract]        
Basic net income (loss) per share $ (0.15) $ 0.80 $ 0.56 $ 1.60
Earnings Per Share, Diluted [Abstract]        
Diluted net income (loss) per share $ (0.15) $ 0.78 $ 0.56 $ 1.56
Weighted-average number of common shares outstanding—basic [2] 193,299 208,097 197,545 211,264
Weighted-average number of common and common equivalent shares outstanding—diluted 193,299 213,603 198,746 216,500
[1] Includes a cumulative adjustment to unearned premiums recorded in the second quarter of 2019 related to an update to the amortization rates used to recognize revenue for Single Premium Policies. See Note 3 for further information.
[2] Includes the impact of fully vested shares under our share-based compensation programs.