XML 12 R2.htm IDEA: XBRL DOCUMENT v3.24.1.u1
STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating revenue    
Total operating revenue $ 880,701 $ 752,465
Operating expenses    
Total operating expenses 741,889 641,922
Operating income 138,812 110,543
Investment income    
Net investment income 15,903 2,183
Net realized and unrealized investment gains (losses) 1,853 (5,282)
Net impairment losses recognized in earnings (2,677) (1,633)
Total investment income (loss) 15,079 (4,732)
Other income 3,411 3,337
Income before income taxes 157,302 109,148
Income tax expense 32,750 22,907
Net income $ 124,552 $ 86,241
Class A common stock    
Earnings per share - Basic and diluted:    
Common stock - basic (in dollars per share) $ 2.67 $ 1.85
Common stock - diluted (in dollars per share) $ 2.38 $ 1.65
Weighted average shares outstanding – Basic    
Common stock - basic (in shares) 46,189,014 46,188,819
Weighted average shares outstanding – Diluted    
Common stock - diluted (in shares) 52,301,803 52,296,621
Dividends declared per share    
Dividends declared (in dollars per share) $ 1.275 $ 1.19
Class B common stock    
Earnings per share - Basic and diluted:    
Common stock - basic (in dollars per share) 401 278
Common stock - diluted (in dollars per share) $ 401 $ 278
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    
Dividends declared (in dollars per share) $ 191.25 $ 178.50
Management fee revenue - policy issuance and renewal services    
Operating revenue    
Total operating revenue $ 665,686 $ 558,090
Operating expenses    
Total operating expenses 550,322 469,095
Management fee revenue - administrative services    
Operating revenue    
Total operating revenue 16,934 15,189
Administrative services reimbursement revenue    
Operating revenue    
Total operating revenue 191,567 172,827
Operating expenses    
Total operating expenses 191,567 172,827
Service agreement revenue    
Operating revenue    
Total operating revenue $ 6,514 $ 6,359