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Consolidated Statements of Income and Comprehensive Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Revenues      
Net premiums earned $ 1,055,082 $ 1,086,972 $ 1,037,451
Investment income, net of investment expenses 39,670 60,414 52,894
Net realized investment gains (losses) (includes reclassifications for net unrealized gains on available-for-sale securities of $1,750 in 2020; $(1,521) in 2019; and $(784) in 2018 previously included in accumulated other comprehensive income) (32,395) 53,779 (20,179)
Other income 6,270 0 0
Total revenues 1,068,627 1,201,165 1,070,166
Benefits, losses and expenses      
Losses and loss settlement expenses 869,467 830,172 731,611
Amortization of deferred policy acquisition costs 210,252 216,699 206,232
Other underwriting expenses (includes reclassifications for employee benefit costs of $(4,289) in 2020; $(4,497) in 2019; and $(6,642) in 2018 previously included in accumulated other comprehensive income) 143,332 137,415 141,473
Goodwill impairment 15,091 0 0
Total benefits, losses and expenses 1,238,142 1,184,286 1,079,316
Income (loss) from continuing operations before income taxes (169,515) 16,879 (9,150)
Federal income tax expense (benefit) (includes reclassifications of $534 in 2020; $1,263 in 2019; and $1,559 in 2018 previously included in accumulated other comprehensive income) (56,809) 2,059 (11,405)
Net income (loss) from continuing operations (112,706) 14,820 2,255
Income (loss) from discontinued operations, net of taxes 0 0 (1,912)
Gain on sale of discontinued operations, net of taxes 0 0 27,307
Net income (loss) (112,706) 14,820 27,650
Other comprehensive income (loss)      
Change in net unrealized appreciation on investments 47,054 70,127 (50,985)
Change in liability for underfunded employee benefit plans 18,456 (20,924) 25,513
Other comprehensive income (loss), before tax and reclassification adjustments 65,510 49,203 (25,472)
Income tax effect (13,757) (10,334) 5,349
Other comprehensive income (loss), after tax, before reclassification adjustments 51,753 38,869 (20,123)
Reclassification adjustment for net realized (gains) losses included in income (1,750) 1,521 784
Reclassification adjustment for employee benefit costs included in expense (4,289) (4,497) (6,642)
Total reclassification adjustments, before tax 2,539 6,018 7,426
Income tax effect 534 1,263 1,559
Total reclassification adjustments, after tax 2,005 4,755 5,867
Comprehensive income (loss) $ (58,948) $ 58,444 $ 13,394
Weighted average common shares outstanding (in shares) 25,027,358 25,138,039 25,006,211
Earnings (loss) per common share from continuing operations:      
Basic (in dollars per share) $ (4.50) $ 0.59 $ 0.09
Diluted (in dollars per share) (4.50) 0.58 0.09
Earnings (loss) per common share:      
Basic (in dollars per share) (4.50) 0.59 1.11
Diluted (in dollars per share) $ (4.50) $ 0.58 $ 1.08