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Consolidated Statements of Income and Comprehensive Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Revenues      
Net premiums earned $ 1,086,972 $ 1,037,451 $ 997,492
Investment income, net of investment expenses 60,414 52,894 51,190
Net realized investment gains (losses) (includes reclassifications for net unrealized gains on available-for-sale securities of ($1,521) in 2019; ($784) in 2018; and $6,390 in 2017 previously included in accumulated other comprehensive income) 53,779 (20,179) 4,055
Total revenues 1,201,165 1,070,166 1,052,737
Benefits, losses and expenses      
Losses and loss settlement expenses 830,172 731,611 725,713
Amortization of deferred policy acquisition costs 216,699 206,232 207,746
Other underwriting expenses (includes reclassifications for employee benefit costs of $4,497 in 2019; $6,642 in 2018; and $5,408 in 2017 previously included in accumulated other comprehensive income) 137,415 141,473 103,628
Total benefits, losses and expenses 1,184,286 1,079,316 1,037,087
Income (loss) from continuing operations before income taxes 16,879 (9,150) 15,650
Federal income tax expense (benefit) (includes reclassifications of $1,263 in 2019; $1,559 in 2018; and ($344) in 2017 previously included in accumulated other comprehensive income) 2,059 (11,405) (29,220)
Net income from continuing operations 14,820 2,255 44,870
Income (loss) from discontinued operations, net of taxes 0 (1,912) 6,153
Gain on sale of discontinued operations, net of taxes 0 27,307 0
Net income 14,820 27,650 51,023
Other comprehensive income (loss)      
Change in net unrealized appreciation on investments 70,127 (50,985) 72,251
Change in liability for underfunded employee benefit plans (20,924) 25,513 (26,122)
Other comprehensive income (loss), before tax and reclassification adjustments 49,203 (25,472) 46,129
Income tax effect (10,334) 5,349 (17,540)
Other comprehensive income (loss), after tax, before reclassification adjustments 38,869 (20,123) 28,589
Reclassification adjustment for net realized (gains) losses included in income 1,521 784 (6,390)
Reclassification adjustment for employee benefit costs included in expense 4,497 6,642 5,408
Total reclassification adjustments, before tax 6,018 7,426 (982)
Income tax effect (1,263) (1,559) 344
Total reclassification adjustments, after tax 4,755 5,867 (638)
Comprehensive income $ 58,444 $ 13,394 $ 78,974
Weighted average common shares outstanding (in shares) 25,138,039 25,006,211 25,103,720
Earnings per common share from continuing operations:      
Basic (in dollars per share) $ 0.59 $ 0.09 $ 1.79
Diluted (in dollars per share) 0.58 0.09 1.75
Earnings per common share:      
Basic (in dollars per share) 0.59 1.11 2.03
Diluted (in dollars per share) $ 0.58 $ 1.08 $ 1.99