XML 20 R5.htm IDEA: XBRL DOCUMENT v3.24.0.1
Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Revenues      
Net premiums earned (Note 8) $ 919,578 $ 981,131 $ 1,037,183
Services revenue (Note 4) 46,092 92,216 125,825
Net investment income (Note 6) 258,430 195,658 147,909
Net gains (losses) on investments and other financial instruments (includes net realized gains (losses) on investments of $(10,733), $(8,306) and $20,842) (Note 6) 10,241 (80,733) 15,603
Other income 6,247 2,454 3,412
Total revenues 1,240,588 1,190,726 1,329,932
Expenses      
Provision for losses (42,526) (338,239) 20,877
Policy acquisition costs 24,578 23,918 29,029
Cost of services 38,491 82,358 103,714
Other operating expenses 347,578 381,148 323,686
Interest expense 89,695 84,454 84,344
Impairment of goodwill (Note 2) 9,802 0 0
Amortization of other acquired intangible assets 5,483 4,308 3,450
Total expenses 473,101 237,947 565,100
Pretax income 767,487 952,779 764,832
Income tax provision (Note 10) 164,368 209,845 164,161
Net income $ 603,119 $ 742,934 $ 600,671
Net income per share      
Basic (in usd per share) $ 3.81 $ 4.42 $ 3.19
Diluted (in usd per share) $ 3.77 $ 4.35 $ 3.16
Weighted-average number of common shares outstanding—basic (in shares) 158,140 167,930 188,370
Weighted-average number of common and common equivalent shares outstanding—diluted (in shares) 160,133 170,664 190,263