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Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2017
Dec. 31, 2016
ASSETS    
Fixed income securities, held-to-maturity – at carrying value (fair value: $88,339 – 2017; $105,211 – 2016) $ 84,836 $ 101,556
Fixed income securities, available-for-sale – at fair value (amortized cost: $4,805,368 – 2017; $4,753,759 – 2016) 4,867,005 4,792,540
Equity securities, available-for-sale – at fair value (cost: $124,614 – 2017; $120,889 – 2016) 154,918 146,753
Short-term investments (at cost which approximates fair value) 247,207 221,701
Other investments 106,796 102,397
Total investments (Note 4 and 6) 5,460,762 5,364,947
Cash 483 458
Interest and dividends due or accrued 40,239 40,164
Premiums receivable, net of allowance for uncollectible accounts of: $6,613 – 2017; $5,980 – 2016 707,677 681,611
Reinsurance recoverable, net of allowance for uncollectible accounts of: $5,000 – 2017; $5,500 – 2016 580,386 621,537
Prepaid reinsurance premiums 145,436 146,282
Current federal income tax 0 2,486
Deferred federal income tax 72,218 84,840
Property and equipment – at cost, net of accumulated depreciation and amortization of: $202,917 – 2017; $198,729 – 2016 68,503 69,576
Deferred policy acquisition costs 227,622 222,564
Goodwill 7,849 7,849
Other assets 92,921 113,534
Total assets 7,404,096 7,355,848
Liabilities And Stockholders' Equity    
Reserve for losses and loss expenses (Note 8) 3,679,471 3,691,719
Unearned premiums 1,299,823 1,262,819
Long-term debt 438,782 438,667
Current federal income tax 11,552 0
Accrued salaries and benefits 96,322 132,880
Other liabilities 285,567 298,393
Total liabilities 5,811,517 5,824,478
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: 102,028,447 – 2017; 101,620,436 – 2016 204,057 203,241
Additional paid-in capital 354,239 347,295
Retained earnings 1,609,862 1,568,881
Accumulated other comprehensive income (loss) (Note 11) 2,090 (15,950)
Treasury stock – at cost (shares: 43,780,884 – 2017; 43,653,237 – 2016) (577,669) (572,097)
Total stockholders' equity 1,592,579 1,531,370
Commitments and contingencies
Total liabilities and stockholders' equity $ 7,404,096 $ 7,355,848