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Consolidated Balance Sheets - USD ($)
Dec. 31, 2015
Dec. 31, 2014
ASSETS    
Fixed income securities, held-to-maturity – at carrying value (fair value: $209,544 – 2015; $333,961 – 2014) $ 201,354,000 $ 318,137,000
Fixed income securities, available-for-sale – at fair value (amortized cost: $4,352,514 – 2015; $3,975,786 – 2014) 4,408,203,000 4,066,122,000
Equity securities, available-for-sale – at fair value (cost: $193,816 – 2015; $159,011 – 2014) 207,051,000 191,400,000
Short-term investments (at cost which approximates fair value) 194,819,000 131,972,000
Other investments 77,842,000 99,203,000
Total investments (Note 5) 5,089,269,000 4,806,834,000
Cash 898,000 23,959,000
Interest and dividends due or accrued 38,501,000 38,901,000
Premiums receivable, net of allowance for uncollectible accounts of: $4,422 – 2015; $4,137 – 2014 615,164,000 558,778,000
Reinsurance recoverable, net (Note 8) 561,968,000 581,548,000
Prepaid reinsurance premiums (Note 8) 140,889,000 146,993,000
Deferred federal income tax (Note 13) 92,696,000 98,449,000
Property and equipment – at cost, net of accumulated depreciation and amortization of: $188,548 – 2015; $172,183 – 2014 65,701,000 59,416,000
Deferred policy acquisition costs (Note 2) 213,159,000 185,608,000
Goodwill (Note 11) 7,849,000 7,849,000
Other assets 78,339,000 66,607,000
Total assets 6,904,433,000 6,574,942,000
LIABILITIES AND STOCKHOLDERS’ EQUITY    
Reserve for losses and loss expenses (Note 9) 3,517,728,000 3,477,870,000
Unearned premiums 1,169,710,000 1,095,819,000
Notes payable (Note 10) 388,192,000 372,689,000
Current federal income tax (Note 13) 7,442,000 3,921,000
Accrued salaries and benefits 167,336,000 158,382,000
Other liabilities 255,984,000 190,675,000
Total liabilities 5,506,392,000 5,299,356,000
Stockholders’ Equity:    
Preferred stock of $0 par value per share: Authorized shares: 5,000,000; no shares issued or outstanding 0 0
Common stock of $2 par value per share Authorized shares: 360,000,000 Issued: 100,861,372 - 2015; 99,947,933 - 2014 201,723,000 199,896,000
Additional paid-in capital 326,656,000 305,385,000
Retained earnings 1,446,192,000 1,313,440,000
Accumulated other comprehensive (loss) income (Note 6) (9,425,000) 19,788,000
Treasury stock – at cost (shares: 43,500,642 – 2015; 43,353,181 – 2014) (567,105,000) (562,923,000)
Total stockholders’ equity $ 1,398,041,000 $ 1,275,586,000
Commitments and contingencies (Notes 17 and 18)
Total liabilities and stockholders’ equity $ 6,904,433,000 $ 6,574,942,000