Consolidated Statements of Operations (USD $)
In Thousands, except Per Share data, unless otherwise specified |
3 Months Ended | 9 Months Ended | ||
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Sep. 30, 2014
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Sep. 30, 2013
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Sep. 30, 2014
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Sep. 30, 2013
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REVENUES: | ||||
Net premiums written | $ 1,525,382 | $ 1,423,625 | $ 4,541,038 | $ 4,142,489 |
Change in net unearned premiums | (64,578) | (94,763) | (298,977) | (298,993) |
Net premiums earned | 1,460,804 | 1,328,862 | 4,242,061 | 3,843,496 |
Net investment income | 179,225 | 125,634 | 486,665 | 405,300 |
Insurance service fees | 26,345 | 26,121 | 81,970 | 80,509 |
Net investment gains | 72,258 | 43,869 | 234,180 | 96,896 |
Revenues from wholly-owned investees | 101,568 | 109,390 | 298,693 | 284,900 |
Other income | 405 | 248 | 931 | 754 |
Total revenues | 1,840,605 | 1,634,124 | 5,344,500 | 4,711,855 |
OPERATING COSTS AND EXPENSES: | ||||
Losses and loss expenses | 887,123 | 798,276 | 2,576,996 | 2,348,425 |
Other operating costs and expenses | 544,303 | 504,096 | 1,593,619 | 1,479,986 |
Expenses from wholly-owned investees | 97,797 | 103,170 | 290,823 | 273,615 |
Interest expense | 32,929 | 30,349 | 93,570 | 92,667 |
Total operating costs and expenses | 1,562,152 | 1,435,891 | 4,555,008 | 4,194,693 |
Income before income taxes | 278,453 | 198,233 | 789,492 | 517,162 |
Income tax expense | (89,662) | (60,045) | (250,840) | (147,249) |
Net income before noncontrolling interests | 188,791 | 138,188 | 538,652 | 369,913 |
Noncontrolling interests | (252) | (1,214) | (479) | (367) |
Net income to common stockholders | $ 188,539 | $ 136,974 | $ 538,173 | $ 369,546 |
NET INCOME PER SHARE: | ||||
Basic | $ 1.48 | $ 1.01 | $ 4.20 | $ 2.72 |
Diluted | $ 1.42 | $ 0.97 | $ 4.02 | $ 2.62 |
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- Definition
The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses from ongoing operations, after income or loss from equity method investments, but before income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount, after premiums ceded to other entities and premiums assumed by the entity, of decrease (increase) in unearned premiums. No definition available.
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- Definition
Income from agency and brokerage operations (includes sales of annuities and supplemental contracts); service charges, commissions, and fees from the sale of insurance and related services; and management fees from separate accounts, deferred annuities, and universal life products. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
This item represents the total realized gain (loss) included in earnings for the period as a result of selling marketable securities categorized as trading, available-for-sale, or held-to-maturity. No definition available.
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- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount, after investment expense, of income earned from investments in securities and real estate. Includes, but is not limited to, real estate investment, policy loans, dividends, and interest. Excludes realized gain (loss) on investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Excludes Selling, General and Administrative Expense. No definition available.
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- Definition
The total amount of other operating cost and expense items that are associated with the entity's normal revenue producing operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Reflects the sum of all other revenue and income recognized by the entity in the period not otherwise specified in the income statement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount, after effects of policies assumed or ceded, of expense related to the provision for policy benefits and costs incurred. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount, after premiums ceded to other entities and premiums assumed by the entity, of premiums earned. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount, after premiums ceded to other entities and premiums assumed by the entity, of premiums written. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Expenses from wholly-owned investees. No definition available.
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- Definition
Revenues from wholly-owned investees. No definition available.
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