XML 23 R12.htm IDEA: XBRL DOCUMENT v3.23.2
Products, Services and Other Revenues
6 Months Ended
Jun. 30, 2023
Revenue from Contract with Customer [Abstract]  
Products, Services and Other Revenues Products, Services, and Other Revenues
The following tables present revenues from contracts with customers by type, all of which are included in products revenues and services and other revenues in the consolidated statements of income (loss) and comprehensive income (loss), along with a reconciliation to total products revenues and services and other revenues.

Quarter Ended June 30,
20232022
(dollars in thousands)Markel VenturesOtherTotalMarkel VenturesOtherTotal
Products$770,171 $ $770,171 $764,543 $— $764,543 
Services569,013 1,784 570,797 561,596 8,450 570,046 
Investment management 21,445 21,445 — 20,328 20,328 
Total revenues from contracts with customers1,339,184 23,229 1,362,413 1,326,139 28,778 1,354,917 
Program services and other fronting 37,563 37,563 — 29,731 29,731 
Disposition gain 16,923 16,923 — — — 
Equity method investments loss(387)(6,762)(7,149)(975)(3,247)(4,222)
Other47,016 407 47,423 36,134 391 36,525 
Total$1,385,813 $71,360 $1,457,173 $1,361,298 $55,653 $1,416,951 

Six Months Ended June 30,
20232022
(dollars in thousands)Markel VenturesOtherTotalMarkel VenturesOtherTotal
Products$1,336,066 $ $1,336,066 $1,233,999 $— $1,233,999 
Services1,054,675 4,638 1,059,313 999,229 30,018 1,029,247 
Investment management 31,904 31,904 — 39,556 39,556 
Total revenues from contracts with customers2,390,741 36,542 2,427,283 2,233,228 69,574 2,302,802 
Program services and other fronting 66,453 66,453 — 63,063 63,063 
Disposition gain 16,923 16,923 — 107,293 107,293 
Equity method investments income (loss)1,108 (9,775)(8,667)2,083 (29,493)(27,410)
Other97,903 1,065 98,968 76,372 7,392 83,764 
Total$2,489,752 $111,208 $2,600,960 $2,311,683 $217,829 $2,529,512 

In February 2022, the Company sold the majority of its controlling interest in its Velocity managing general agent companies, which resulted in a gain of $107.3 million. In June 2023, the Company sold one of its licensed insurance subsidiaries to Velocity, which resulted in a gain of $16.9 million. Both gains were included in services and other revenues.
Receivables from contracts with customers were $663.7 million and $624.1 million as of June 30, 2023 and December 31, 2022, respectively.