STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Operating revenue
Operating revenue	$ 616,737	$ 594,106
Operating expenses
Operating expenses	531,046	507,984
Operating income	85,691	86,122
Investment income
Net investment income	8,369	8,517
Net realized investment (losses) gains	(10,806)	2,503
Net impairment losses recognized in earnings	(3,053)	(78)
Equity in losses of limited partnerships	(3,705)	(1,147)
Total investment (loss) income	(9,195)	9,795
Interest expense, net	3	449
Other (expense) income	(366)	47
Income before income taxes	76,127	95,515
Income tax expense	16,801	20,204
Net income	$ 59,326	$ 75,311
Class A common stock
Class B – Basic and diluted EPS:
Class A common stock - basic (in dollars per share)	$ 1.27	$ 1.62
Class A common stock - diluted (in dollars per share)	$ 1.13	$ 1.44
Weighted average shares outstanding – Basic
Common stock - basic (in shares)	46,188,789	46,188,337
Weighted average shares outstanding – Diluted
Common stock - diluted (in shares)	52,324,350	52,312,036
Dividends declared per share
Common stock (in dollars per share)	$ 0.965	$ 0.90
Class B common stock
Class B – Basic and diluted EPS:
Class B common stock – basic and diluted (in dollars per share)	$ 191	$ 243
Weighted average shares outstanding – Basic
Common stock - basic (in shares)	2,542	2,542
Weighted average shares outstanding – Diluted
Common stock - diluted (in shares)	2,542	2,542
Dividends declared per share
Common stock (in dollars per share)	$ 144.75	$ 135.00
Management fee revenue - policy issuance and renewal services, net
Operating revenue
Operating revenue	$ 443,750	$ 430,983
Operating expenses
Operating expenses	379,492	365,504
Management fee revenue - administrative services, net
Operating revenue
Operating revenue	14,771	13,951
Administrative services reimbursement revenue
Operating revenue
Operating revenue	151,554	142,480
Operating expenses
Operating expenses	151,554	142,480
Service agreement revenue
Operating revenue
Operating revenue	$ 6,662	$ 6,692