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Unaudited Quarterly Financial Data | 12 Months Ended
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Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract] |
Unaudited Quarterly Financial Data |
NOTE 18 |  | Unaudited Quarterly Financial Data
Unaudited quarterly financial data - current year:
Table: | 18.1a |  |  |  |  |  |  |  |  |  |
2019: |  | Quarter |  | Full
(In thousands, except per share data) |  | First |  | Second |  | Third |  | Fourth |  | Year
Net premiums earned |  | $ | 249,762 |  |  | $ | 247,102 |  |  | $ | 267,857 |  |  | $ | 266,267 |  |  | $ | 1,030,988 |
Investment income, net of expenses |  | 40,585 |  |  | 42,423 |  |  | 42,715 |  |  | 41,322 |  |  | 167,045 |
Realized (losses) gains |  | (526 | ) |  | 307 |  |  | 4,205 |  |  | 1,320 |  |  | 5,306 |
Other revenue |  | 1,830 |  |  | 2,485 |  |  | 3,606 |  |  | 2,717 |  |  | 10,638 |
Loss incurred, net |  | 39,064 |  |  | 21,836 |  |  | 33,985 |  |  | 23,690 |  |  | 118,575 |
Underwriting and other expenses, net |  | 61,650 |  |  | 59,270 |  |  | 61,278 |  |  | 65,227 |  |  | 247,425 |
Provision for income tax |  | 38,996 |  |  | 43,433 |  |  | 46,186 |  |  | 45,599 |  |  | 174,214 |
Net income |  | 151,941 |  |  | 167,778 |  |  | 176,934 |  |  | 177,110 |  |  | 673,763 |
Income per share (a) (b): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | 0.43 |  |  | 0.47 |  |  | 0.50 |  |  | 0.51 |  |  | 1.91 |
Diluted |  | 0.42 |  |  | 0.46 |  |  | 0.49 |  |  | 0.49 |  |  | 1.85 |
Unaudited quarterly financial statements - prior year:
Table: | 18.1b |  |  |  |  |  |  |  |  |  |
2018: |  | Quarter |  | Full
(In thousands, except per share data) |  | First |  | Second |  | Third |  | Fourth |  | Year
Net premiums earned |  | $ | 232,107 |  |  | $ | 246,964 |  |  | $ | 250,426 |  |  | $ | 245,665 |  |  | $ | 975,162 |
Investment income, net of expenses |  | 32,121 |  |  | 34,502 |  |  | 36,380 |  |  | 38,328 |  |  | 141,331 |
Realized gains (losses) |  | (329 | ) |  | (1,897 | ) |  | 1,114 |  |  | (241 | ) |  | (1,353 | )
Other revenue |  | 1,871 |  |  | 2,431 |  |  | 2,525 |  |  | 1,881 |  |  | 8,708 |
Loss incurred, net |  | 23,850 |  |  | (13,455 | ) |  | (1,518 | ) |  | 27,685 |  |  | 36,562 |
Underwriting and other expenses, net |  | 61,895 |  |  | 57,933 |  |  | 60,069 |  |  | 63,239 |  |  | 243,136 |
Provision for income tax |  | 36,388 |  |  | 50,708 |  |  | 49,994 |  |  | 36,963 |  |  | 174,053 |
Net income |  | 143,637 |  |  | 186,814 |  |  | 181,900 |  |  | 157,746 |  |  | 670,097 |
Income per share (a) (b): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | 0.39 |  |  | 0.51 |  |  | 0.50 |  |  | 0.44 |  |  | 1.83 |
Diluted |  | 0.38 |  |  | 0.49 |  |  | 0.49 |  |  | 0.43 |  |  | 1.78 |
(a) | Due to the use of weighted average shares outstanding when calculating earnings per share, the sum of the quarterly per share data may not equal the per share data for the year.
(b) In periods where convertible debt instruments are dilutive to earnings per share the “if-converted” method of computing diluted EPS requires an interest expense adjustment, net of tax, to net income available to shareholders. See Note 4 – “Earnings Per Share” for further discussion on our calculation of diluted EPS.

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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 + Details
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