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Consolidated Statements of Earnings and Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenues        
Net premiums earned $ 1,556,859 $ 1,389,981 $ 4,396,147 $ 4,043,298
Net investment income 129,265 147,829 359,938 413,623
Change in the fair value of equity securities 92,799 (16,691) (187,991) 519,322
Net realized capital gains 16,751 3,957 (8,323) 20,753
Change in allowance for credit losses on available for sale securities 3,454   (10,900)  
Change in allowance for credit losses on available for sale securities   (3,597)   (13,617)
Noninsurance revenue 723,785 638,478 1,684,335 1,756,507
Total revenues 2,522,913 2,159,957 6,233,206 6,739,886
Costs and Expenses        
Net loss and loss adjustment expenses 1,173,655 907,736 3,225,461 2,497,037
Commissions, brokerage and other underwriting expenses 464,522 449,519 1,315,935 1,313,961
Other operating expenses 669,423 617,326 1,646,390 1,701,218
Corporate administration 12,871 22,276 17,143 67,612
Amortization of intangible assets 11,223 8,095 32,884 23,790
Interest expense 23,319 25,703 63,869 74,363
Total costs and expenses 2,355,013 2,030,655 6,301,682 5,677,981
(Losses) earnings before income taxes 167,900 129,302 (68,476) 1,061,905
Income taxes 30,253 28,010 (21,111) 207,878
Net (losses) earnings 137,647 101,292 (47,365) 854,027
Net earnings attributable to noncontrolling interest 11,125 10,860 9,953 27,909
Net (losses) earnings attributable to Alleghany stockholders 126,522 90,432 (57,318) 826,118
Net (losses) earnings 137,647 101,292 (47,365) 854,027
Other comprehensive income (loss):        
Change in unrealized gains, net of deferred taxes 77,133 86,215 212,175 442,205
Less: reclassification for net realized capital gains and change in allowance for credit losses on available for sale securities, net of taxes (6,345) (4,892) (22,761) (10,246)
Change in unrealized currency translation adjustment, net of deferred taxes 12,109 (10,343) 13,190 (8,054)
Retirement plans 420 322 1,356 1,363
Comprehensive (loss) income 220,964 172,594 156,595 1,279,295
Comprehensive (loss) income attributable to noncontrolling interests 11,125 10,860 9,953 27,909
Comprehensive (loss) income attributable to Alleghany stockholders $ 209,839 $ 161,734 $ 146,642 $ 1,251,386
Basic (losses) earnings per share attributable to Alleghany stockholders $ 8.86 $ 6.27 $ (4.01) $ 57.18
Diluted (losses) earnings per share attributable to Alleghany stockholders $ 8.86 $ 6.27 $ (4.43) $ 57.14