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STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Operating revenue      
Total operating revenue $ 2,840,124 $ 2,633,977 $ 2,536,489
Operating expenses      
Total operating expenses 2,463,910 2,315,880 2,198,332
Operating income 376,214 318,097 338,157
Investment income      
Net investment income 28,585 62,177 29,753
Net realized and unrealized investment (losses) gains (27,286) 4,946 6,392
Net impairment (losses) recoveries recognized in earnings (667) 209 (3,278)
Total investment income 632 67,332 32,867
Interest expense, net 2,009 4,132 731
Other income (expense) 1,615 (4,893) (1,778)
Income before income taxes 376,452 376,404 368,515
Income tax expense 77,883 78,544 75,211
Net income $ 298,569 $ 297,860 $ 293,304
Class A common stock      
Earnings per share - Basic and diluted:      
Common stock - basic (in dollars per share) $ 6.41 $ 6.40 $ 6.30
Common stock - diluted (in dollars per share) $ 5.71 $ 5.69 $ 5.61
Weighted average shares outstanding – Basic      
Common stock - basic (in shares) 46,188,916 46,188,806 46,188,659
Weighted average shares outstanding – Diluted      
Common stock - diluted (in shares) 52,297,990 52,307,302 52,313,360
Class B common stock      
Earnings per share - Basic and diluted:      
Common stock - basic (in dollars per share) $ 962 $ 959 $ 945
Common stock - diluted (in dollars per share) $ 962 $ 959 $ 945
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      
Operating revenue      
Total operating revenue $ 2,087,846 $ 1,913,166 $ 1,841,794
Operating expenses      
Total operating expenses 1,795,642 1,677,397 1,588,897
Management fee revenue - administrative services      
Operating revenue      
Total operating revenue 58,323 58,286 59,463
Administrative services reimbursement revenue      
Operating revenue      
Total operating revenue 668,268 638,483 609,435
Operating expenses      
Total operating expenses 668,268 638,483 609,435
Service agreement revenue      
Operating revenue      
Total operating revenue $ 25,687 $ 24,042 $ 25,797