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Revisions To Financial Statements | 12 Months Ended
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Dec. 31, 2019
Revisions To Financial Statements [Abstract] |
Revisions To Financial Statements | 20. REVISIONS TO FINANCIAL STATEMENTS In preparing its current period financial statements, the Company identified errors in the handling of foreign exchange related to premium funds held from reinsureds. Although management determined that the impact of the foreign exchange differences were not material to prior period financial statements, the impact of recording the cumulative difference would have significantly impacted results within the current period. As a result, prior period balances have been revised in the applicable financial statements and corresponding footnotes to correct the foreign exchange adjustments. Management assessed the materiality of this change within prior period financial statements based upon SEC Staff Accounting Bulletin Number 99, Materiality, which is since codified in Accounting Standards Codification ("ASC") 250, Accounting Changes and Error Corrections. The prior period comparative financial statements that are presented herein have been revised. The following tables present line items for prior period financial statements that have been affected by the revision. For these line items, the tables detail the amounts as previously reported, the impact upon those line items due to the revision, and the amounts as currently revised within the financial statements.
CONSOLIDATED BALANCE SHEETS |  | December 31, 2018 |  | December 31, 2017
|  | As Previously |  | Impact of |  |  |  |  | As Previously |  | Impact of |  |  |
|  | Reported |  | Revisions |  | As Revised |  | Reported |  | Revisions |  | As Revised
(Dollars in thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
ASSETS: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Premiums Receivable |  | $ | 2,218,283 |  | $ | (35,100) |  | $ | 2,183,183 |  | $ | 1,844,881 |  | $ | (25,106) |  | $ | 1,819,775
Funds held by reinsureds |  |  | 445,040 |  |  | (10,009) |  |  | 435,031 |  |  | 292,927 |  |  | (4,292) |  |  | 288,635
Income taxes |  |  | 592,385 |  |  | 2,102 |  |  | 594,487 |  |  | 299,438 |  |  | 902 |  |  | 300,340
TOTAL ASSETS |  | $ | 24,793,999 |  | $ | (43,007) |  | $ | 24,750,992 |  | $ | 23,591,792 |  | $ | (28,496) |  | $ | 23,563,296
SHAREHOLDERS' EQUITY: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Retained earnings |  |  | 9,574,440 |  |  | (43,007) |  |  | 9,531,433 |  |  | 9,685,908 |  |  | (28,496) |  |  | 9,657,412
Total shareholders' equity |  |  | 7,903,804 |  |  | (43,007) |  |  | 7,860,797 |  |  | 8,369,232 |  |  | (28,496) |  |  | 8,340,736
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY |  | $ | 24,793,999 |  | $ | (43,007) |  | $ | 24,750,992 |  | $ | 23,591,792 |  | $ | (28,496) |  | $ | 23,563,296
CONSOLIDATED BALANCE SHEETS |  | June 30, 2019 |  | March 31, 2019
|  | As Previously |  | Impact of |  |  |  |  | As Previously |  | Impact of |  |  |
|  | Reported |  | Revisions |  | As Revised |  | Reported |  | Revisions |  | As Revised
(Dollars in thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
ASSETS: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Premiums Receivable |  | $ | 2,389,943 |  | $ | (38,836) |  | $ | 2,351,107 |  | $ | 2,392,094 |  | $ | (29,831) |  | $ | 2,362,263
Funds held by reinsureds |  |  | 498,043 |  |  | (10,768) |  |  | 487,275 |  |  | 432,736 |  |  | (9,525) |  |  | 423,211
Income taxes |  |  | 358,457 |  |  | 2,261 |  |  | 360,718 |  |  | 475,851 |  |  | 2,000 |  |  | 477,851
TOTAL ASSETS |  | $ | 26,387,791 |  | $ | (47,343) |  | $ | 26,340,448 |  | $ | 25,630,507 |  | $ | (37,356) |  | $ | 25,593,151
SHAREHOLDERS' EQUITY: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Retained earnings |  |  | 10,152,059 |  |  | (47,343) |  |  | 10,104,716 |  |  | 9,866,203 |  |  | (37,356) |  |  | 9,828,847
Total stockholder's equity |  |  | 8,884,160 |  |  | (47,343) |  |  | 8,836,817 |  |  | 8,426,629 |  |  | (37,356) |  |  | 8,389,273
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY |  | $ | 26,387,791 |  | $ | (47,343) |  | $ | 26,340,448 |  | $ | 25,630,507 |  | $ | (37,356) |  | $ | 25,593,151
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE |  | Year Ended December 31, 2018 |  | Year Ended December 31, 2017
INCOME (LOSS): |  | As Previously |  | Impact of |  |  |  |  | As Previously |  | Impact of |  |  |
|  | Reported |  | Revisions |  | As Revised |  | Reported |  | Revisions |  | As Revised
(Dollars in thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other income (expense) |  | $ | (9,060) |  | $ | (15,711) |  | $ | (24,771) |  | $ | (35,442) |  | $ | 14,227 |  | $ | (21,215)
Total revenues |  | $ | 7,377,206 |  | $ | (15,711) |  | $ | 7,361,495 |  | $ | 6,608,071 |  | $ | 14,227 |  | $ | 6,622,298
INCOME (LOSS) BEFORE TAXES |  | $ | (226,471) |  | $ | (15,711) |  | $ | (242,182) |  | $ | 405,184 |  | $ | 14,227 |  | $ | 419,411
Income tax expense (benefit) |  |  | (330,023) |  |  | (1,200) |  |  | (331,223) |  |  | (63,784) |  |  | 444 |  |  | (63,340)
NET INCOME (LOSS) |  | $ | 103,552 |  | $ | (14,511) |  | $ | 89,041 |  | $ | 468,968 |  | $ | 13,783 |  | $ | 482,751
COMPREHENSIVE INCOME (LOSS) |  | $ | (196,913) |  | $ | (14,511) |  | $ | (211,424) |  | $ | 526,091 |  | $ | 13,783 |  | $ | 539,874
EARNINGS PER COMMON SHARE: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 2.54 |  | $ | (0.36) |  | $ | 2.18 |  | $ | 11.43 |  | $ | 0.34 |  | $ | 11.77
Diluted |  | $ | 2.53 |  | $ | (0.36) |  | $ | 2.17 |  | $ | 11.36 |  | $ | 0.34 |  | $ | 11.70
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE |  |  | Three Months Ended June 30, 2019 |  |  | Six Months Ended June 30, 2019
INCOME (LOSS): |  |  | As Previously |  |  | Impact of |  |  |  |  |  | As Previously |  |  | Impact of |  |  |
|  |  | Reported |  |  | Revisions |  |  | As Revised |  |  | Reported |  |  | Revisions |  |  | As Revised
(Dollars in thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other income (expense) |  | $ | (7,977) |  | $ | (10,248) |  | $ | (18,225) |  | $ | (17,030) |  | $ | (4,495) |  | $ | (21,525)
Total revenues |  | $ | 2,018,975 |  | $ | (10,248) |  | $ | 2,008,727 |  | $ | 3,979,058 |  | $ | (4,495) |  | $ | 3,974,563
INCOME (LOSS) BEFORE TAXES |  | $ | 382,593 |  | $ | (10,248) |  | $ | 372,345 |  | $ | 791,384 |  | $ | (4,495) |  | $ | 786,889
Income tax expense (benefit) |  |  | 39,738 |  |  | (261) |  |  | 39,477 |  |  | 99,629 |  |  | (159) |  |  | 99,470
NET INCOME (LOSS) |  | $ | 342,855 |  | $ | (9,987) |  | $ | 332,868 |  | $ | 691,755 |  | $ | (4,336) |  | $ | 687,419
COMPREHENSIVE INCOME (LOSS) |  | $ | 514,064 |  | $ | (9,987) |  | $ | 504,077 |  | $ | 1,109,410 |  | $ | (4,336) |  | $ | 1,105,074
EARNINGS PER COMMON SHARE: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 8.42 |  | $ | (0.25) |  | $ | 8.17 |  | $ | 16.98 |  | $ | (0.10) |  | $ | 16.88
Diluted |  | $ | 8.39 |  | $ | (0.24) |  | $ | 8.15 |  | $ | 16.93 |  | $ | (0.11) |  | $ | 16.82
CONSOLIDATED STATEMENTS OF OPERATIONS |  | Three Months Ended March 31, 2,019
AND COMPREHENSIVE INCOME (LOSS): |  | As Previously |  | Impact of |  |  |
|  | Reported |  | Revisions |  | As Revised
(Dollars in thousands) |  |  |  |  |  |  |  |  |
Revenues: |  |  |  |  |  |  |  |  |
Other income (expense) |  | $ | (9,053) |  | $ | 5,753 |  | $ | (3,300)
Total revenues |  | $ | 1,960,083 |  | $ | 5,753 |  | $ | 1,965,836
INCOME (LOSS) BEFORE TAXES |  | $ | 408,791 |  | $ | 5,753 |  | $ | 414,544
Income tax expense (benefit) |  |  | 59,891 |  |  | 102 |  |  | 59,993
NET INCOME (LOSS) |  | $ | 348,900 |  | $ | 5,651 |  | $ | 354,551
COMPREHENSIVE INCOME (LOSS) |  | $ | 595,346 |  | $ | 5,651 |  | $ | 600,997
EARNINGS PER COMMON SHARE: |  |  |  |  |  |  |  |  |
Basic |  | $ | 8.57 |  | $ | 0.13 |  | $ | 8.70
Diluted |  | $ | 8.54 |  | $ | 0.13 |  | $ | 8.67
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE |  | Three Months Ended September 30, 2018 |  | Nine Months Ended September 30, 2018
INCOME (LOSS): |  | As Previously |  | Impact of |  |  |  | As Previously |  | Impact of |  |  |
|  | Reported |  | Revisions |  | As Revised |  | Reported |  | Revisions |  | As Revised
(Dollars in thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other income (expense) |  | $ | (5,458) |  | $ | (7,950) |  | $ | (13,408) |  | $ | 9,642 |  | $ | (12,590) |  | $ | (2,948)
Total revenues |  | $ | 1,944,413 |  | $ | (7,950) |  | $ | 1,936,463 |  | $ | 5,582,509 |  | $ | (12,590) |  | $ | 5,569,919
INCOME (LOSS) BEFORE TAXES |  | $ | 197,421 |  | $ | (7,950) |  | $ | 189,471 |  | $ | 475,827 |  | $ | (12,590) |  | $ | 463,237
Income tax expense (benefit) |  |  | (8,192) |  |  | (718) |  |  | (8,910) |  |  | (9,999) |  |  | (1,118) |  |  | (11,117)
NET INCOME (LOSS) |  | $ | 205,613 |  | $ | (7,232) |  | $ | 198,381 |  | $ | 485,826 |  | $ | (11,472) |  | $ | 474,354
COMPREHENSIVE INCOME (LOSS) |  | $ | 180,634 |  | $ | (7,232) |  | $ | 173,402 |  | $ | 177,601 |  | $ | (11,472) |  | $ | 166,129
EARNINGS PER COMMON SHARE: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 5.04 |  | $ | (0.17) |  | $ | 4.87 |  | $ | 11.89 |  | $ | (0.28) |  | $ | 11.61
Diluted |  | $ | 5.02 |  | $ | (0.18) |  | $ | 4.84 |  | $ | 11.83 |  | $ | (0.28) |  | $ | 11.55
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE |  | Three Months Ended June 30, 2018 |  | Six Months Ended June 30, 2018
INCOME (LOSS): |  | As Previously |  | Impact of |  |  |  |  | As Previously |  | Impact of |  |  |
|  | Reported |  | Revisions |  | As Revised |  | Reported |  | Revisions |  | As Revised
(Dollars in thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other income (expense) |  | $ | 3,036 |  | $ | (9,609) |  | $ | (6,573) |  | $ | 15,100 |  | $ | (4,640) |  | $ | 10,460
Total revenues |  | $ | 1,892,939 |  | $ | (9,609) |  | $ | 1,883,330 |  | $ | 3,638,096 |  | $ | (4,640) |  | $ | 3,633,456
INCOME (LOSS) BEFORE TAXES |  | $ | 60,763 |  | $ | (9,609) |  | $ | 51,154 |  | $ | 278,406 |  | $ | (4,640) |  | $ | 273,766
Income tax expense (benefit) |  |  | (9,132) |  |  | (501) |  |  | (9,633) |  |  | (1,807) |  |  | (400) |  |  | (2,207)
NET INCOME (LOSS) |  | $ | 69,895 |  | $ | (9,108) |  | $ | 60,787 |  | $ | 280,213 |  | $ | (4,240) |  | $ | 275,973
COMPREHENSIVE INCOME (LOSS) |  | $ | (33,469) |  | $ | (9,108) |  | $ | (42,577) |  | $ | (3,033) |  | $ | (4,240) |  | $ | (7,273)
EARNINGS PER COMMON SHARE: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 1.71 |  | $ | (0.22) |  | $ | 1.49 |  | $ | 6.85 |  | $ | (0.10) |  | $ | 6.75
Diluted |  | $ | 1.70 |  | $ | (0.22) |  | $ | 1.48 |  | $ | 6.81 |  | $ | (0.10) |  | $ | 6.71
CONSOLIDATED STATEMENTS OF OPERATIONS |  | Three Months Ended March 31, 2018
AND COMPREHENSIVE INCOME (LOSS): |  | As Previously |  | Impact of |  |  |
|  | Reported |  | Revisions |  | As Revised
(Dollars in thousands) |  |  |  |  |  |  |  |  |
Revenues: |  |  |  |  |  |  |  |  |
Other income (expense) |  | $ | 12,064 |  | $ | 4,969 |  | $ | 17,033
Total revenues |  | $ | 1,745,157 |  | $ | 4,969 |  | $ | 1,750,126
INCOME (LOSS) BEFORE TAXES |  | $ | 217,643 |  | $ | 4,969 |  | $ | 222,612
Income tax expense (benefit) |  |  | 7,325 |  |  | 101 |  |  | 7,426
NET INCOME (LOSS) |  | $ | 210,318 |  | $ | 4,868 |  | $ | 215,186
COMPREHENSIVE INCOME (LOSS) |  | $ | 30,436 |  | $ | 4,868 |  | $ | 35,304
EARNINGS PER COMMON SHARE: |  |  |  |  |  |  |  |  |
Basic |  | $ | 5.14 |  | $ | 0.12 |  | $ | 5.26
Diluted |  | $ | 5.11 |  | $ | 0.12 |  | $ | 5.23
CONSOLIDATED STATEMENTS OF |  | Year Ended December 31, 2018 |  | Year Ended December 31, 2017
CHANGES IN STOCKHOLDER'S EQUITY |  | As Previously |  | Impact of |  |  |  |  | As Previously |  | Impact of |  |  |
|  | Reported |  | Revisions |  | As Revised |  | Reported |  | Revisions |  | As Revised
(Dollars in thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
RETAINED EARNINGS: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance, beginning of period |  | $ | 9,685,908 |  | $ | (28,496) |  | $ | 9,657,412 |  | $ | 9,422,932 |  | $ | (42,279) |  | $ | 9,380,653
Net income (loss) |  |  | 103,552 |  |  | (14,511) |  |  | 89,041 |  |  | 468,968 |  |  | 13,783 |  |  | 482,751
Balance, end of period |  |  | 9,574,440 |  |  | (43,007) |  |  | 9,531,433 |  |  | 9,685,908 |  |  | (28,496) |  |  | 9,657,412
TOTAL STOCKHOLDER'S EQUITY, END OF PERIOD |  | $ | 7,903,804 |  | $ | (43,007) |  | $ | 7,860,797 |  | $ | 8,369,232 |  | $ | (28,496) |  | $ | 8,340,736
CONSOLIDATED STATEMENTS OF |  | Six Months Ended June 30, 2019 |  | Three Months Ended March 31, 2019
CHANGES IN STOCKHOLDER'S EQUITY |  | As Previously |  | Impact of |  |  |  |  | As Previously |  | Impact of |  |  |
|  | Reported |  | Revisions |  | As Revised |  | Reported |  | Revisions |  | As Revised
(Dollars in thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
RETAINED EARNINGS: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance, January 1 |  | $ | 9,574,440 |  | $ | (43,007) |  | $ | 9,531,433 |  | $ | 9,574,440 |  | $ | (43,007) |  | $ | 9,531,433
Net income (loss) |  |  | 348,900 |  |  | 5,651 |  |  | 354,551 |  |  | 348,900 |  |  | 5,651 |  |  | 354,551
Balance, March 31 |  |  | 9,866,203 |  |  | (37,356) |  |  | 9,828,847 |  |  | 9,866,203 |  |  | (37,356) |  |  | 9,828,847
Net income (loss) |  |  | 342,855 |  |  | (9,987) |  |  | 332,868 |  |  |  |  |  |  |  |  |
Balance, June 30, |  |  | 10,152,059 |  |  | (47,343) |  |  | 10,104,716 |  |  |  |  |  |  |  |  |
TOTAL STOCKHOLDER'S EQUITY, June 30 |  | $ | 8,884,160 |  | $ | (47,343) |  | $ | 8,836,817 |  | $ | 8,426,629 |  | $ | (37,356) |  | $ | 8,389,273
CONSOLIDATED STATEMENTS OF |  | Three Months Ended September 30, 2018 |  | Nine Months Ended September 30, 2018
CHANGES IN STOCKHOLDER'S EQUITY |  | As Previously |  | Impact of |  |  |  |  | As Previously |  | Impact of |  |  |
|  | Reported |  | Revisions |  | As Revised |  | Reported |  | Revisions |  | As Revised
(Dollars in thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
RETAINED EARNINGS: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance, beginning of period |  | $ | 9,860,842 |  | $ | (32,736) |  | $ | 9,828,106 |  | $ | 9,685,908 |  | $ | (28,496) |  | $ | 9,657,412
Net income (loss) |  |  | 205,613 |  |  | (7,232) |  |  | 198,381 |  |  | 485,826 |  |  | (11,472) |  |  | 474,354
Balance, end of period |  |  | 10,013,592 |  |  | (39,968) |  |  | 9,973,624 |  |  | 10,013,592 |  |  | (39,968) |  |  | 9,973,624
TOTAL STOCKHOLDER'S EQUITY, END OF PERIOD |  | $ | 8,329,013 |  | $ | (39,968) |  | $ | 8,289,045 |  | $ | 8,329,013 |  | $ | (39,968) |  | $ | 8,289,045
CONSOLIDATED STATEMENTS OF |  | Three Months Ended June 30, 2018 |  | Six Months Ended June 30, 2018
CHANGES IN STOCKHOLDER'S EQUITY |  | As Previously |  | Impact of |  |  |  |  | As Previously |  | Impact of |  |  |
|  | Reported |  | Revisions |  | As Revised |  | Reported |  | Revisions |  | As Revised
(Dollars in thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
RETAINED EARNINGS: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance, beginning of period |  | $ | 9,844,187 |  | $ | (23,628) |  | $ | 9,820,559 |  | $ | 9,685,908 |  | $ | (28,496) |  | $ | 9,657,412
Net income (loss) |  |  | 69,895 |  |  | (9,108) |  |  | 60,787 |  |  | 280,213 |  |  | (4,240) |  |  | 275,973
Balance, end of period |  |  | 9,860,842 |  |  | (32,736) |  |  | 9,828,106 |  |  | 9,860,842 |  |  | (32,736) |  |  | 9,828,106
TOTAL STOCKHOLDER'S EQUITY, END OF PERIOD |  | $ | 8,241,349 |  | $ | (32,736) |  | $ | 8,208,613 |  | $ | 8,241,349 |  | $ | (32,736) |  | $ | 8,208,613
CONSOLIDATED STATEMENTS OF |  | Three Months Ended March 31, 2018
CHANGES IN STOCKHOLDER'S EQUITY |  | As Previously |  | Impact of |  |  |
|  | Reported |  | Revisions |  | As Revised
(Dollars in thousands) |  |  |  |  |  |  |  |  |
RETAINED EARNINGS: |  |  |  |  |  |  |  |  |
Balance, beginning of period |  | $ | 9,685,908 |  | $ | (28,496) |  | $ | 9,657,412
Net income (loss) |  |  | 210,318 |  |  | 4,868 |  |  | 215,186
Balance, end of period |  |  | 9,844,187 |  |  | (23,628) |  |  | 9,820,559
TOTAL STOCKHOLDER'S EQUITY, END OF PERIOD |  | $ | 8,344,180 |  | $ | (23,628) |  | $ | 8,320,552
CONSOLIDATED STATEMENTS OF CASH FLOWS |  | Year Ended December 31, 2018 |  | Year Ended December 31, 2017
|  | As Previously |  | Impact of |  |  |  |  | As Previously |  | Impact of |  |  |
|  | Reported |  | Revisions |  | As Revised |  | Reported |  | Revisions |  | As Revised
(Dollars in thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
CASH FLOWS FROM OPERATING ACTIVITIES: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) |  | $ | 103,552 |  | $ | (14,511) |  | $ | 89,041 |  | $ | 468,968 |  | $ | 13,783 |  | $ | 482,751
Decrease (increase) in premiums receivable |  |  | (392,981) |  |  | 9,994 |  |  | (382,987) |  |  | (338,335) |  |  | (12,111) |  |  | (350,446)
Decrease (increase) in funds held by reinsureds, net |  |  | (159,344) |  |  | 5,717 |  |  | (153,627) |  |  | (31,104) |  |  | (2,116) |  |  | (33,220)
Decrease (increase) in income taxes |  |  | (263,865) |  |  | (1,200) |  |  | (265,065) |  |  | (114,521) |  |  | 444 |  |  | (114,077)
CONSOLIDATED STATEMENTS OF CASH FLOWS |  | Six Months Ended June 30, 2019 |  | Three Months Ended March 31, 2019
|  | As Previously |  | Impact of |  |  |  |  | As Previously |  | Impact of |  |  |
|  | Reported |  | Revisions |  | As Revised |  | Reported |  | Revisions |  | As Revised
(Dollars in thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
CASH FLOWS FROM OPERATING ACTIVITIES: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) |  | $ | 691,755 |  | $ | (4,336) |  | $ | 687,419 |  | $ | 348,900 |  | $ | 5,651 |  | $ | 354,551
Decrease (increase) in premiums receivable |  |  | (178,319) |  |  | 3,736 |  |  | (174,583) |  |  | (163,108) |  |  | (5,269) |  |  | (168,377)
Decrease (increase) in funds held by reinsureds, net |  |  | (56,180) |  |  | 759 |  |  | (55,421) |  |  | 9,837 |  |  | (484) |  |  | 9,353
Decrease (increase) in income taxes |  |  | 180,285 |  |  | (159) |  |  | 180,126 |  |  | 91,754 |  |  | 102 |  |  | 91,856
CONSOLIDATED STATEMENTS OF CASH FLOWS |  | Nine Months Ended September 30, 2018 |  | Six Months Ended June 30, 2018
|  | As Previously |  | Impact of |  |  |  |  | As Previously |  | Impact of |  |  |
|  | Reported |  | Revisions |  | As Revised |  | Reported |  | Revisions |  | As Revised
(Dollars in thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
CASH FLOWS FROM OPERATING ACTIVITIES: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) |  | $ | 485,826 |  | $ | (11,472) |  | $ | 474,354 |  | $ | 280,213 |  | $ | (4,240) |  | $ | 275,973
Decrease (increase) in premiums receivable |  |  | (264,556) |  |  | 7,265 |  |  | (257,291) |  |  | (126,355) |  |  | 2,733 |  |  | (123,622)
Decrease (increase) in funds held by reinsureds, net |  |  | (78,514) |  |  | 5,325 |  |  | (73,189) |  |  | (77,794) |  |  | 1,907 |  |  | (75,887)
Decrease (increase) in income taxes |  |  | 59,034 |  |  | (1,118) |  |  | 57,916 |  |  | 43,516 |  |  | (400) |  |  | 43,116
CONSOLIDATED STATEMENTS OF CASH FLOWS |  | Three Months Ended March 31, 2018
|  | As Previously |  | Impact of |  |  |
|  | Reported |  | Revisions |  | As Revised
(Dollars in thousands) |  |  |  |  |  |  |  |  |
CASH FLOWS FROM OPERATING ACTIVITIES: |  |  |  |  |  |  |  |  |
Net income (loss) |  | $ | 210,318 |  | $ | 4,868 |  | $ | 215,186
Decrease (increase) in premiums receivable |  |  | (56,826) |  |  | (4,489) |  |  | (61,315)
Decrease (increase) in funds held by reinsureds, net |  |  | 95,416 |  |  | (480) |  |  | 94,936
Decrease (increase) in income taxes |  |  | 55,905 |  |  | 101 |  |  | 56,006

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- Definition The entire disclosure for reporting accounting changes and error corrections. It includes the conveyance of information necessary for a user of the Company's financial information to understand all aspects and required disclosure information concerning all changes and error corrections reported in the Company's financial statements for the period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -URI http://asc.fasb.org/topic&trid=2122394 + Details
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