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Consolidated Statements of Earnings and Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Revenues        
Net premiums earned $ 1,074,723 $ 1,098,944 $ 2,091,894 $ 2,152,941
Net investment income 103,087 114,094 216,469 224,677
Net realized capital gains 86,160 41,524 129,311 138,360
Other than temporary impairment losses (7,317) (932) (59,598) (6,152)
Other income 43,785 37,586 79,985 68,032
Total revenues 1,300,438 1,291,216 2,458,061 2,577,858
Costs and Expenses        
Net loss and loss adjustment expenses 595,455 629,213 1,142,371 1,240,372
Commissions, brokerage and other underwriting expenses 363,954 359,604 707,563 683,840
Other operating expenses 63,812 66,236 131,217 119,578
Corporate administration 9,841 12,687 22,519 22,319
Amortization of intangible assets (1,051) (876) (2,711) (2,737)
Interest expense 23,375 21,932 46,467 43,743
Total costs and expenses 1,055,386 1,088,796 2,047,426 2,107,115
Earnings (losses) before income taxes 245,052 202,420 410,635 470,743
Income taxes 61,905 53,186 102,068 116,868
Net earnings 183,147 149,234 308,567 353,875
Net earnings attributable to noncontrolling interest 669 254 880 15
Net earnings attributable to Alleghany stockholders 182,478 148,980 307,687 353,860
Net earnings 183,147 149,234 308,567 353,875
Other comprehensive income:        
Change in unrealized gains, net of deferred taxes of ($25,730) and $192,340 for 2015 and 2014, respectively (109,332) 206,098 (47,785) 357,203
Less: reclassification for net realized capital gains and other than temporary impairment losses, net of taxes of ($24,400) and ($46,273) for 2015 and 2014, respectively (51,248) (26,385) (45,313) (85,935)
Change in unrealized currency translation adjustment, net of deferred taxes of $1,555 and $3,126 for 2015 and 2014, respectively 2,888 5,805 (7,867) 6,237
Retirement plans 137 (7) (385) 126
Comprehensive income 25,592 334,745 207,217 631,506
Comprehensive income (losses) attributable to noncontrolling interest 669 254 880 15
Comprehensive income attributable to Alleghany stockholders $ 24,923 $ 334,491 $ 206,337 $ 631,491
Basic earnings per share attributable to Alleghany stockholders $ 11.41 $ 9.06 $ 19.22 $ 21.36
Diluted earnings per share attributable to Alleghany stockholders $ 11.40 $ 9.06 $ 19.22 $ 21.36