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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Revenues:        
Net premiums earned—insurance $ 299,166 [1] $ 251,344 $ 562,678 [1] $ 493,894
Services revenue 39,303 36,828 72,056 69,992
Net investment income 43,761 37,473 87,608 71,429
Net gains (losses) on investments and other financial instruments 12,540 (7,404) 34,453 (26,291)
Other income 194 1,016 1,798 1,823
Total revenues 394,964 319,257 758,593 610,847
Expenses:        
Provision for losses 47,427 19,337 68,181 56,620
Policy acquisition costs 6,203 5,996 12,096 13,113
Cost of services 27,845 24,205 52,002 47,331
Other operating expenses 70,046 70,184 148,851 133,427
Restructuring and other exit costs (Note 1) 0 925 0 1,476
Interest expense 14,961 15,291 30,658 30,371
Loss on extinguishment of debt 16,798 0 16,798 0
Amortization and impairment of other acquired intangible assets 2,139 2,748 4,326 5,496
Total expenses 185,419 138,686 332,912 287,834
Consolidated pretax income (loss) 209,545 180,571 425,681 323,013
Income tax provision (benefit) 42,815 (28,378) 87,994 (422)
Net income $ 166,730 $ 208,949 $ 337,687 $ 323,435
Earnings Per Share, Basic [Abstract]        
Basic net income (loss) per share $ 0.80 $ 0.98 $ 1.60 $ 1.50
Earnings Per Share, Diluted [Abstract]        
Diluted net income (loss) per share $ 0.78 $ 0.96 $ 1.56 $ 1.48
Weighted-average number of common shares outstanding—basic 208,097 213,976 211,264 215,049
Weighted-average number of common and common equivalent shares outstanding—diluted 213,603 217,830 216,500 218,741
[1]
Includes a cumulative adjustment to unearned premiums recorded in the second quarter of 2019 related to an update to the amortization rates used to recognize revenue for Single Premium Policies. See Note 3 for further information.