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STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating revenue      
Total operating revenue $ 2,633,977 $ 2,536,489 $ 2,477,298
Operating expenses      
Total operating expenses 2,315,880 2,198,332 2,119,959
Operating income 318,097 338,157 357,339
Investment income      
Net investment income 62,177 29,753 34,059
Net realized and unrealized investment gains 4,946 6,392 6,103
Net impairment recoveries (losses) recognized in earnings 209 (3,278) (195)
Total investment income 67,332 32,867 39,967
Interest expense, net 4,132 731 856
Other (expense) income (4,893) (1,778) 255
Income before income taxes 376,404 368,515 396,705
Income tax expense 78,544 75,211 79,884
Net income $ 297,860 $ 293,304 $ 316,821
Class A common stock      
Net income per share      
Class A common stock - basic (in dollars per share) $ 6.40 $ 6.30 $ 6.80
Class A common stock - diluted (in dollars per share) $ 5.69 $ 5.61 $ 6.06
Weighted average shares outstanding – Basic      
Common stock - basic (in shares) 46,188,806 46,188,659 46,188,836
Weighted average shares outstanding – Diluted      
Common stock - diluted (in shares) 52,307,302 52,313,360 52,319,860
Class B common stock      
Net income per share      
Class A common stock - basic (in dollars per share) $ 959 $ 945 $ 1,020
Class A common stock - diluted (in dollars per share) 959 945 1,020
Class B common stock - basic and diluted (in dollars per share) $ 959 $ 945 $ 1,020
Weighted average shares outstanding – Basic      
Common stock - basic (in shares) 2,542 2,542 2,542
Weighted average shares outstanding – Diluted      
Common stock - diluted (in shares) 2,542 2,542 2,542
Management fee revenue - policy issuance and renewal services      
Operating revenue      
Total operating revenue $ 1,913,166 $ 1,841,794 $ 1,810,457
Operating expenses      
Total operating expenses 1,677,397 1,588,897 1,537,949
Management fee revenue - administrative services      
Operating revenue      
Total operating revenue 58,286 59,463 57,204
Administrative services reimbursement revenue      
Operating revenue      
Total operating revenue 638,483 609,435 582,010
Operating expenses      
Total operating expenses 638,483 609,435 582,010
Service agreement revenue      
Operating revenue      
Total operating revenue $ 24,042 $ 25,797 $ 27,627