Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2018

Accounting Policies [Abstract]

Schedule of the impact of adoption of ASC 606 on our Statement of Financial Position and Statement of Operations

The cumulative effect of the changes made to our Statement of Financial Position at January 1, 2018 were as follows:

(in thousands)	Balance at December 31, 2017		Adjustments due to ASC 606			Balance at January 1, 2018
Statement of Financial Position:
Assets
Deferred tax asset	$	19,390	$	10,188		$	29,578
Liabilities
Contract liability	—		48,514			48,514
Equity
Retained earnings	2,140,853		(38,326		)	2,102,527

The impact of adoption on our Statement of Financial Position at June 30, 2018 was as follows:

	June 30, 2018
(in thousands)	As Reported		Balances without ASC 606		Impact of Change Higher/(Lower)
	(Unaudited)
Statement of Financial Position:
Assets
Deferred tax asset	$	31,527	$	20,903	$	10,624
Liabilities
Contract liability	50,589		—		50,589
Equity
Retained earnings	2,169,686		2,209,651		(39,965		)

The impact of adoption on our Statement of Operations at June 30, 2018 was as follows:

	Three months ended									Six months ended
(in thousands)	As Reported			Balances without ASC 606			Impact of Change Higher/(Lower)			As Reported			Balances without ASC 606			Impact of Change Higher/(Lower)
	(Unaudited)									(Unaudited)
Statement of Operations:
Management fee revenue allocated to policy issuance and renewal services, gross	$	456,896		$	471,999		$	(15,103	)	$	864,132		$	892,698		$	(28,566	)
Less: change in allowance for management fee returned on cancelled policies	(2,324		)	(2,400		)	76			(3,582		)	(3,700		)	118
Management fee revenue allocated to policy issuance and renewal services, net	$	454,572		$	469,599		$	(15,027	)	$	860,550		$	888,998		$	(28,448	)
Management fee revenue allocated to administrative services, gross	$	13,313		$	—		$	13,313		$	26,401		$	—		$	26,401
Less: change in allowance for management fee returned on cancelled policies	(14		)	—			(14		)	(28		)	—			(28		)
Management fee revenue allocated to administrative services, net	13,299			—			13,299			26,373			—			26,373
Administrative services reimbursement revenue	146,507			—			146,507			292,470			—			292,470
Total revenue allocated to administrative services	$	159,806		$	—		$	159,806		$	318,843		$	—		$	318,843
Administrative services expenses	$	146,507		$	—		$	146,507		$	292,470		$	—		$	292,470