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STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Operating revenue      
Operating revenue $ 2,536,489 $ 2,477,298 $ 2,382,212
Operating expenses      
Operating expenses 2,198,332 2,119,959 2,037,869
Operating income 338,157 357,339 344,343
Investment income      
Net investment income 29,753 34,059 29,387
Net realized investment gains (losses) 6,392 6,103 (2,010)
Net impairment losses recognized in earnings (3,278) (195) (1,581)
Total investment income 32,867 39,967 25,796
Interest expense, net 731 856 2,460
Other (expense) income (1,778) 255 3,641
Income before income taxes 368,515 396,705 371,320
Income tax expense 75,211 79,884 83,096
Net income $ 293,304 $ 316,821 $ 288,224
Class A common stock      
Net income per share      
Class A common stock - basic (in dollars per share) $ 6.30 $ 6.80 $ 6.19
Class A common stock - diluted (in dollars per share) $ 5.61 $ 6.06 $ 5.51
Weighted average shares outstanding – Basic      
Common stock - basic (in shares) 46,188,659 46,188,836 46,188,637
Weighted average shares outstanding – Diluted      
Common stock - diluted (in shares) 52,313,360 52,319,860 52,315,213
Class B common stock      
Net income per share      
Class A common stock - basic (in dollars per share) $ 945 $ 1,020 $ 928
Class A common stock - diluted (in dollars per share) 945 1,020 928
Class B common stock - basic and diluted (in dollars per share) $ 945 $ 1,020 $ 928
Weighted average shares outstanding – Basic      
Common stock - basic (in shares) 2,542 2,542 2,542
Weighted average shares outstanding – Diluted      
Common stock - diluted (in shares) 2,542 2,542 2,542
Management fee revenue - policy issuance and renewal services, net      
Operating revenue      
Operating revenue $ 1,841,794 $ 1,810,457 $ 1,719,567
Operating expenses      
Operating expenses 1,588,897 1,537,949 1,457,533
Management fee revenue - administrative services, net      
Operating revenue      
Operating revenue 59,463 57,204 53,632
Administrative services reimbursement revenue      
Operating revenue      
Operating revenue 609,435 582,010 580,336
Operating expenses      
Operating expenses 609,435 582,010 580,336
Service agreement revenue      
Operating revenue      
Operating revenue $ 25,797 $ 27,627 $ 28,677