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Consolidated Balance Sheets - USD ($)
Dec. 31, 2016
Dec. 31, 2015
ASSETS    
Fixed income securities, held-to-maturity – at carrying value (fair value: $105,211 – 2016; $209,544 – 2015) $ 101,556,000 $ 201,354,000
Fixed income securities, available-for-sale – at fair value (amortized cost: $4,753,759 – 2016; $4,352,514 – 2015) 4,792,540,000 4,408,203,000
Equity securities, available-for-sale – at fair value (cost: $120,889 – 2016; $193,816 – 2015) 146,753,000 207,051,000
Short-term investments (at cost which approximates fair value) 221,701,000 194,819,000
Other investments 102,397,000 77,842,000
Total investments (Notes 5 and 7) 5,364,947,000 5,089,269,000
Cash 458,000 898,000
Interest and dividends due or accrued 40,164,000 38,501,000
Premiums receivable, net of allowance for uncollectible accounts of: $5,980 – 2016; $4,422 – 2015 681,611,000 615,164,000
Reinsurance recoverable, net of allowance for uncollectible accounts of: $5,500 – 2016; $5,700 – 2015 (Note 8) 621,537,000 561,968,000
Prepaid reinsurance premiums (Note 8) 146,282,000 140,889,000
Current federal income tax (Note 13) 2,486,000 0
Deferred federal income tax (Note 13) 84,840,000 92,696,000
Property and equipment – at cost, net of accumulated depreciation and amortization of: $198,729 – 2016; $188,548 – 2015 69,576,000 65,701,000
Deferred policy acquisition costs (Note 2) 222,564,000 213,159,000
Goodwill (Note 11) 7,849,000 7,849,000
Other assets 113,534,000 78,339,000
Total assets 7,355,848,000 6,904,433,000
LIABILITIES AND STOCKHOLDERS’ EQUITY    
Reserve for losses and loss expenses (Note 9) 3,691,719,000 3,517,728,000
Unearned premiums 1,262,819,000 1,169,710,000
Short-term debt (Note 10) 0 60,000,000
Long-term debt (Note 10) 438,667,000 328,192,000
Current federal income tax (Note 13) 0 7,442,000
Accrued salaries and benefits 132,880,000 167,336,000
Other liabilities 298,393,000 255,984,000
Total liabilities 5,824,478,000 5,506,392,000
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: 101,620,436 - 2016; 100,861,372 - 2015 203,241,000 201,723,000
Additional paid-in capital 347,295,000 326,656,000
Retained earnings 1,568,881,000 1,446,192,000
Accumulated other comprehensive loss (Note 6) (15,950,000) (9,425,000)
Treasury stock – at cost (shares: 43,653,237 – 2016; 43,500,642 – 2015) (572,097,000) (567,105,000)
Total stockholders’ equity 1,531,370,000 1,398,041,000
Commitments and contingencies (Notes 17 and 18)
Total liabilities and stockholders’ equity $ 7,355,848,000 $ 6,904,433,000