XML 21 R4.htm IDEA: XBRL DOCUMENT v3.23.2
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenues        
Net premiums earned (Note 8) $ 213,429 $ 253,892 $ 446,667 $ 508,082
Services revenue (Note 4) 11,797 27,281 22,781 56,629
Net investment income 64,182 46,957 123,403 85,153
Net gains (losses) on investments and other financial instruments (includes net realized gains (losses) on investments of $(3,351), $(3,992), $(8,856) and $(4,315)) (Note 6) (236) (41,869) 5,349 (71,326)
Other income 1,241 572 2,833 1,275
Total revenues 290,413 286,833 601,033 579,813
Expenses        
Provision for losses (21,632) (113,922) (38,561) (197,676)
Policy acquisition costs 5,218 5,940 11,511 12,545
Cost of services 10,257 22,760 20,655 47,513
Other operating expenses 89,885 90,495 173,154 180,036
Interest expense 22,639 20,831 44,846 41,677
Amortization of other acquired intangible assets 1,370 849 2,741 1,698
Total expenses 107,737 26,953 214,346 85,793
Pretax income 182,676 259,880 386,687 494,020
Income tax provision 36,589 58,687 82,843 111,696
Net income $ 146,087 $ 201,193 $ 303,844 $ 382,324
Net income per share        
Basic net income per share (in usd per share) $ 0.92 $ 1.16 $ 1.91 $ 2.18
Diluted net income per share (in usd per share) $ 0.91 $ 1.15 $ 1.89 $ 2.16
Weighted average number of common shares outstanding—basic (in shares) 159,010 173,705 159,250 175,491
Weighted average number of common and common equivalent shares outstanding—diluted (in shares) 160,744 175,419 161,129 177,349