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Unaudited Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Revenues        
Net premiums written $ 1,325,403 $ 1,014,278 $ 3,850,358 $ 3,159,076
Change in unearned premiums (63,517) (55,875) (230,581) (243,109)
Net premiums earned 1,261,886 958,403 3,619,777 2,915,967
Net investment income 116,459 93,618 345,457 275,691
Net realized gains (losses) 66,275 125,105 122,163 230,647
Other-than-temporary impairment losses (1,878) (3,867) (5,415) (16,999)
Less investment impairments recognized in other comprehensive income, before taxes 0 0 0 150
Net impairment losses recognized in earnings (1,878) (3,867) (5,415) (16,849)
Other underwriting income 6,064 7,980 15,519 38,251
Equity in net income (loss) of investment funds accounted for using the equity method 31,090 16,662 111,884 32,054
Other income (loss) (342) (400) (3,118) (432)
Total revenues 1,479,554 1,197,501 4,206,267 3,475,329
Expenses        
Losses and loss adjustment expenses 1,046,141 524,183 2,288,571 1,631,724
Acquisition expenses 193,854 161,267 566,579 501,782
Other operating expenses 170,127 153,286 514,827 460,748
Corporate expenses 17,098 18,485 69,766 45,068
Amortization of intangible assets 31,824 4,865 93,942 14,493
Interest expense 29,510 15,943 86,935 47,713
Net foreign exchange losses (gains) 28,028 2,621 86,975 1,525
Total expenses 1,516,582 880,650 3,707,595 2,703,053
Income (loss) before income taxes (37,028) 316,851 498,672 772,276
Income tax expense (8,189) (13,231) (70,755) (43,672)
Net income (loss) (45,217) 303,620 427,917 728,604
Net (income) loss attributable to noncontrolling interests 11,561 (50,748) (23,279) (109,879)
Net income (loss) available to Arch (33,656) 252,872 404,638 618,725
Preferred dividends (12,369) (5,484) (34,936) (16,453)
Loss on redemption of preferred shares (6,735) 0 (6,735) 0
Net income (loss) available to Arch common shareholders $ (52,760) $ 247,388 $ 362,967 $ 602,272
Net income per common share        
Basic (per share) $ (0.39) $ 2.05 $ 2.70 $ 4.99
Diluted (per share) $ (0.39) $ 1.98 $ 2.61 $ 4.84
Weighted average common shares and common share equivalents outstanding        
Basic (shares) 134,885,451 120,938,916 134,472,129 120,656,420
Diluted (shares) 134,885,451 124,931,653 139,222,324 124,528,174