XML 51 R42.htm IDEA: XBRL DOCUMENT v3.22.0.1
Reinsurance and Insurance Loss Reserves (Tables)
 9 Months Ended
Jan. 01, 2022
Insurance [Abstract]  
Effects of Reinsurance
The effects of reinsurance on premiums written and earned were as follows (in thousands):
Three Months Ended
January 1, 2022December 26, 2020
WrittenEarnedWrittenEarned
Direct premiums
$6,380 $6,557 $5,420 $5,429 
Assumed premiums—nonaffiliated
7,023 7,822 6,541 7,195 
Ceded premiums—nonaffiliated
(3,866)(3,866)(3,146)(3,146)

$9,537 $10,513 $8,815 $9,478 
Nine Months Ended
January 1, 2022December 26, 2020
WrittenEarnedWrittenEarned
Direct premiums
$19,529 $18,876 $16,100 $15,759 
Assumed premiums—nonaffiliated
23,837 22,830 21,787 21,028 
Ceded premiums—nonaffiliated
(11,227)(11,227)(9,201)(9,201)

$32,139 $30,479 $28,686 $27,586 
Loss Reserve Rollforward Standard Casualty establishes reserves for claims and related expenses on reported and unreported non-reinsured losses. Reserves for claims are included in the Accrued expenses and other current liabilities line item on the Consolidated Balance Sheet and claims expenses is recorded in Cost of sales on the Consolidated Statement of Comprehensive Income. The following details the activity in the reserve for the nine months ended January 1, 2022 and December 26, 2020 (in thousands):
Three Months EndedNine Months Ended
January 1,
2022		December 26,
2020		January 1,
2022		December 26,
2020
Balance at beginning of period$7,350 $6,887 $7,451 $5,582 
Net incurred losses during the year5,046 4,070 20,303 17,529 
Net claim payments during the year(4,916)(5,606)(20,274)(17,760)
Balance at end of period$7,480 $5,351 $7,480 $5,351