XML 22 R33.htm IDEA: XBRL DOCUMENT
v2.4.0.6

Fair Value Measurement (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2012
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract] |
Schedule Of Assets And Liabilities Measured At Fair Value On A Recurring Basis Valuation Techniques | The following tables present information about the Company’s assets and liabilities measured at fair value on a recurring basis as of December 31, 2012 and 2011, and indicate the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value:
| December 31, 2012
| Level 1 |  | Level 2 |  | Level 3 |  | Total
| (Amounts in thousands)
Assets |  |  |  |  |  |  |
Fixed maturity securities: |  |  |  |  |  |  |
U.S. government bonds and agencies | $ | 14,204 |  |  | $ | 0 |  |  | $ | 0 |  |  | $ | 14,204 |
Municipal securities | 0 |  |  | 2,165,095 |  |  | 0 |  |  | 2,165,095 |
Mortgage-backed securities | 0 |  |  | 30,703 |  |  | 0 |  |  | 30,703 |
Corporate securities | 0 |  |  | 155,551 |  |  | 0 |  |  | 155,551 |
Collateralized debt obligations | 0 |  |  | 0 |  |  | 42,801 |  |  | 42,801 |
Equity securities: |  |  |  |  |  |  |
Common stock: |  |  |  |  |  |  |
Public utilities | 85,106 |  |  | 0 |  |  | 0 |  |  | 85,106 |
Banks, trusts and insurance companies | 22,166 |  |  | 0 |  |  | 0 |  |  | 22,166 |
Energy and other | 346,809 |  |  | 0 |  |  | 0 |  |  | 346,809 |
Non-redeemable preferred stock | 0 |  |  | 11,701 |  |  | 0 |  |  | 11,701 |
Partnership interest in a private credit fund | 0 |  |  | 0 |  |  | 11,306 |  |  | 11,306 |
Short-term bonds | 0 |  |  | 24,530 |  |  | 0 |  |  | 24,530 |
Money market instruments | 270,123 |  |  | 0 |  |  | 0 |  |  | 270,123 |
Total assets at fair value | $ | 738,408 |  |  | $ | 2,387,580 |  |  | $ | 54,107 |  |  | $ | 3,180,095 |
Liabilities |  |  |  |  |  |  |
Equity contracts | $ | 175 |  |  | $ | 0 |  |  | $ | 0 |  |  | $ | 175 |
Interest rate swap agreements | 0 |  |  | 103 |  |  | 0 |  |  | 103 |
Total liabilities at fair value | $ | 175 |  |  | $ | 103 |  |  | $ | 0 |  |  | $ | 278 |
| December 31, 2011
| Level 1 |  | Level 2 |  | Level 3 |  | Total
| (Amounts in thousands)
Assets |  |  |  |  |  |  |
Fixed maturity securities: |  |  |  |  |  |  |
U.S. government bonds and agencies | $ | 14,298 |  |  | $ | 0 |  |  | $ | 0 |  |  | $ | 14,298 |
Municipal securities | 0 |  |  | 2,271,275 |  |  | 0 |  |  | 2,271,275 |
Mortgage-backed securities | 0 |  |  | 37,371 |  |  | 0 |  |  | 37,371 |
Corporate securities | 0 |  |  | 75,142 |  |  | 0 |  |  | 75,142 |
Collateralized debt obligations | 0 |  |  | 0 |  |  | 47,503 |  |  | 47,503 |
Equity securities: |  |  |  |  |  |  |
Common stock: |  |  |  |  |  |  |
Public utilities | 26,342 |  |  | 0 |  |  | 0 |  |  | 26,342 |
Banks, trusts and insurance companies | 16,027 |  |  | 0 |  |  | 0 |  |  | 16,027 |
Energy and other | 316,592 |  |  | 0 |  |  | 0 |  |  | 316,592 |
Non-redeemable preferred stock | 0 |  |  | 11,419 |  |  | 0 |  |  | 11,419 |
Partnership interest in a private credit fund | 0 |  |  | 0 |  |  | 10,008 |  |  | 10,008 |
Short-term bonds | 0 |  |  | 9,011 |  |  | 0 |  |  | 9,011 |
Money market instruments | 227,433 |  |  | 0 |  |  | 0 |  |  | 227,433 |
Total assets at fair value | $ | 600,692 |  |  | $ | 2,404,218 |  |  | $ | 57,511 |  |  | $ | 3,062,421 |
Liabilities |  |  |  |  |  |  |
Equity contracts | $ | 655 |  |  | $ | 0 |  |  | $ | 0 |  |  | $ | 655 |
Interest rate swap agreements | 0 |  |  | 670 |  |  | 0 |  |  | 670 |
Total liabilities at fair value | $ | 655 |  |  | $ | 670 |  |  | $ | 0 |  |  | $ | 1,325 |
Summary Of Changes In Fair Value Of Level 3 Financial Assets And Financial Liabilities Held At Fair Value | The following table presents a summary of changes in fair value of Level 3 financial assets and financial liabilities held at fair value at December 31:
| 2012 |  | 2011
| Collateralized Debt Obligations |  | Partnership Interest in a Private Credit Fund |  | Municipal Securities |  | Collateralized Debt Obligations |  | Partnership Interest in a Private Credit Fund
| (Amounts in thousands)
Beginning Balance | $ | 47,503 |  |  | $ | 10,008 |  |  | $ | 1,624 |  |  | $ | 55,692 |  |  | $ | 0 |
Realized gains (losses) included in earnings | 7,975 |  |  | 1,298 |  |  | 39 |  |  | (9,300 | ) |  | 8 |
Purchase | 25,000 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 10,000 |
Sales | (37,677 | ) |  | 0 |  |  | (1,663 | ) |  | 0 |  |  | 0 |
Settlements | 0 |  |  | 0 |  |  | 0 |  |  | 1,111 |  |  | 0 |
Ending Balance | $ | 42,801 |  |  | $ | 11,306 |  |  | $ | 0 |  |  | $ | 47,503 |  |  | $ | 10,008 |
The amount of total (losses) gains for the period included in earnings attributable to assets still held at December 31 | $ | (3,017 | ) |  | $ | 1,298 |  |  | $ | 0 |  |  | $ | (8,189 | ) |  | $ | 8 |

X
- Definition Tabular disclosure of the inputs and valuation techniques used to measure fair value, and a discussion of changes in valuation techniques and related inputs, if any, applied during the period to each separate class of assets, liabilities, and financial instruments classified in shareholders' equity that are measured on a recurring and/or nonrecurring basis. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19279-110258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 32 -Subparagraph c -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
Name: | us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_FinancialInstrumentsFinancialAssetsBalanceSheetGroupingsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration