XML 14 R4.htm IDEA: XBRL DOCUMENT v3.25.2
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenues        
Net premiums earned (Note 8) $ 237,520 $ 237,731 $ 474,199 $ 473,588
Services revenue (Note 4) 10,924 13,265 23,040 25,853
Net investment income (Note 6) 72,769 73,766 141,343 142,987
Net gains (losses) on investments and other financial instruments (includes net realized gains (losses) on investments of $(2,053), $(3,019), $(3,487) and (6,701)) (Note 6) (4,852) (4,487) (5,575) (3,997)
Income (loss) on consolidated VIEs (Note 7) 185 0 613 0
Other income 1,458 872 2,498 2,134
Total revenues 318,004 321,147 636,118 640,565
Expenses        
Provision for losses 12,097 (1,745) 27,264 (8,779)
Policy acquisition costs 7,205 6,522 13,593 13,316
Cost of services 8,418 9,535 17,189 18,862
Other operating expenses 89,397 91,648 166,246 174,284
Interest expense (Note 12) 25,874 27,064 48,373 56,110
Total expenses 142,991 133,024 272,665 253,793
Pretax income 175,013 188,123 363,453 386,772
Income tax provision 33,217 36,220 77,099 82,515
Net income $ 141,796 $ 151,903 $ 286,354 $ 304,257
Net income per share        
Basic (in usd per share) $ 1.03 $ 0.99 $ 2.02 $ 1.98
Diluted (in usd per share) $ 1.02 $ 0.98 $ 2 $ 1.96
Weighted average number of common shares outstanding—basic (in shares) 137,376 153,110 141,910 153,879
Weighted average number of common and common equivalent shares outstanding—diluted (in shares) 138,360 154,399 143,012 155,271