XML 15 R2.htm IDEA: XBRL DOCUMENT v3.8.0.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2017
Dec. 31, 2016
ASSETS    
Fixed income securities, held-to-maturity – at carrying value (fair value: $44,100 – 2017; $105,211 – 2016) $ 42,129,000 $ 101,556,000
Fixed income securities, available-for-sale – at fair value (amortized cost: $5,076,716 – 2017; $4,753,759 – 2016) 5,162,522,000 4,792,540,000
Equity securities, available-for-sale – at fair value (cost: $143,811 – 2017; $120,889 – 2016) 182,705,000 146,753,000
Short-term investments (at cost which approximates fair value) 165,555,000 221,701,000
Other investments 132,268,000 102,397,000
Total investments (Notes 5 and 7) 5,685,179,000 5,364,947,000
Cash 534,000 458,000
Interest and dividends due or accrued 40,897,000 40,164,000
Premiums receivable, net of allowance for uncollectible accounts of: $10,000 – 2017; $5,980 – 2016 747,029,000 681,611,000
Reinsurance recoverable, net of allowance for uncollectible accounts of: $4,600 – 2017; $5,500 – 2016 (Note 8) 594,832,000 621,537,000
Prepaid reinsurance premiums (Note 8) 153,493,000 146,282,000
Current federal income tax (Note 13) 3,243,000 2,486,000
Deferred federal income tax (Note 13) 31,990,000 84,840,000
Property and equipment – at cost, net of accumulated depreciation and amortization of: $213,227 – 2017; $198,729 – 2016 63,959,000 69,576,000
Deferred policy acquisition costs (Note 2) 235,055,000 222,564,000
Goodwill (Note 11) 7,849,000 7,849,000
Other assets 122,371,000 113,534,000
Total assets 7,686,431,000 7,355,848,000
LIABILITIES AND STOCKHOLDERS’ EQUITY    
Reserve for loss and loss expense (Note 9) 3,771,240,000 3,691,719,000
Unearned premiums 1,349,644,000 1,262,819,000
Long-term debt (Note 10) 439,116,000 438,667,000
Accrued salaries and benefits 131,850,000 132,880,000
Other liabilities 281,624,000 298,393,000
Total liabilities 5,973,474,000 5,824,478,000
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: 102,284,564 - 2017; 101,620,436 - 2016 204,569,000 203,241,000
Additional paid-in capital 367,717,000 347,295,000
Retained earnings 1,698,613,000 1,568,881,000
Accumulated other comprehensive income (loss) (Note 6) 20,170,000 (15,950,000)
Treasury stock – at cost (shares: 43,789,442 – 2017; 43,653,237 – 2016) (578,112,000) (572,097,000)
Total stockholders’ equity 1,712,957,000 1,531,370,000
Commitments and contingencies (Notes 17 and 18)
Total liabilities and stockholders’ equity $ 7,686,431,000 $ 7,355,848,000