Note 10 - Income Taxes - Level 3 (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Provision [Table Text Block]

The components of our consolidated income tax provision from continuing operations are as follows.

	Year Ended December 31,
(In thousands)	2020		2019		2018
Current provision (benefit)	$	(16,264)	$	19,522	$	(42,398)
Deferred provision	102,079		157,162		120,573
Total income tax provision	$	85,815	$	176,684	$	78,175

Reconciliation of Taxes at Statutory Rate to Provision (Benefit) for Income Taxes [Table Text Block]

The reconciliation of taxes computed at the statutory tax rate of 21% in 2020, 2019 and 2018 to the provision for income taxes is as follows.

	Year Ended December 31,
(In thousands)	2020		2019		2018
Provision for income taxes computed at the statutory tax rate	$	100,683	$	178,289	$	143,679
Change in tax resulting from:
Valuation allowance	11,290		1,941		(1,856)
Uncertain tax positions	(14,784)		1,202		2,589
State tax provision (benefit), net of federal impact	(9,062)		(293)		5,570
Other, net	(2,312)		(4,455)		1,778
Impact related to settlement of IRS Matter	—		—		(73,585)
Provision for income taxes	$	85,815	$	176,684	$	78,175

Schedule of Components of Deferred Tax Assets and Liabilities [Table Text Block]

The significant components of our net deferred tax assets and liabilities from continuing operations are summarized as follows.

	December 31,
(In thousands)	2020		2019
Deferred tax assets:
State income taxes, net of federal impact	$	75,499	$	65,917
Goodwill and intangibles	32,673		36,282
Unearned premiums	27,703		34,394
Lease liability	11,214		13,293
Accrued expenses	11,140		11,642
Share-based compensation	9,291		11,238
Deferred policy acquisition and ceding commission costs	7,043		11,190
Loss reserves	4,578		1,920
Other	8,732		11,188
Total deferred tax assets	$	187,873	$	197,064

	December 31,
(In thousands)	2020		2019
Deferred tax liabilities:
Contingency reserve	$	216,122	$	137,983
Net unrealized gain on investments	70,057		29,303
Depreciation	13,029		12,803
Differences in fair value of financial instruments	9,087		5,708
Other	15,747		15,914
Total deferred tax liabilities	324,042		201,711
Less: Valuation allowance	77,728		66,437
Net deferred tax asset (liability)	$	(213,897)	$	(71,084)

Reconciliation of Unrecognized Tax Benefits [Table Text Block]

A reconciliation of the beginning and ending gross unrecognized tax benefits is as follows.

	Year Ended December 31,
(In thousands)	2020		2019
Balance at beginning of period	$	37,208	$	33,552
Tax positions related to the current year:
Increases	250		3,215
Decreases	(1,788)		—
Tax positions related to prior years:
Increases	16,568		441
Decreases	(171)		—
Lapses of applicable statute of limitation	(31,818)		—
Balance at end of period	$	20,249	$	37,208