XML 51 R24.htm IDEA: XBRL DOCUMENT
v3.2.0.727

Fair Value Measurements (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2015
Fair Value Disclosures [Abstract] |
Assets Measured at Estimated Fair Value on a Recurring Basis | The following table presents information about the Company’s financial assets measured at estimated fair value on a recurring basis. The table indicates the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value as of June 30, 2015 and December 31, 2014:
|  | Fair Value Measurements Using |  |  |  |
|  | (Level 1) |  |  | (Level 2) |  |  | (Level 3) |  |  | Total |
As of June 30, 2015 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Financial Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 274,729 |  |  | $ | — |  |  | $ | — |  |  | $ | 274,729 |
Fixed-maturity securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury and U.S. government agencies |  |  | 4,056 |  |  |  | 6,871 |  |  |  | — |  |  |  | 10,927 |
Corporate bonds |  |  | 41,423 |  |  |  | 982 |  |  |  | — |  |  |  | 42,405 |
Asset-backed securities |  |  | — |  |  |  | 4,163 |  |  |  | — |  |  |  | 4,163 |
Mortgage-backed securities |  |  | — |  |  |  | 14,438 |  |  |  | — |  |  |  | 14,438 |
State, municipalities, and political subdivisions |  |  | — |  |  |  | 82,537 |  |  |  | — |  |  |  | 82,537 |
Redeemable preferred stock |  |  | 10,467 |  |  |  | — |  |  |  | — |  |  |  | 10,467 |
Other |  |  | — |  |  |  | 498 |  |  |  | — |  |  |  | 498 |
Total fixed-maturity securities |  |  | 55,946 |  |  |  | 109,489 |  |  |  | — |  |  |  | 165,435 |
Equity securities |  |  | 60,331 |  |  |  | — |  |  |  | — |  |  |  | 60,331 |
Total available-for-sale securities |  |  | 116,277 |  |  |  | 109,489 |  |  |  | — |  |  |  | 225,766 |
Total |  | $ | 391,006 |  |  | $ | 109,489 |  |  | $ | — |  |  | $ | 500,495 |
|  | Fair Value Measurements Using |  |  |  |
|  | (Level 1) |  |  | (Level 2) |  |  | (Level 3) |  |  | Total |
As of December 31, 2014 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Financial Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 314,416 |  |  | $ | — |  |  | $ | — |  |  | $ | 314,416 |
Fixed-maturity securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury and U.S. government agencies |  |  | 1,069 |  |  |  | 1,809 |  |  |  | — |  |  |  | 2,878 |
Corporate bonds |  |  | 22,274 |  |  |  | 998 |  |  |  | — |  |  |  | 23,272 |
Asset-backed securities |  |  | — |  |  |  | 697 |  |  |  | — |  |  |  | 697 |
Mortgage-backed securities |  |  | — |  |  |  | 3,009 |  |  |  | — |  |  |  | 3,009 |
State, municipalities, and political subdivisions |  |  | — |  |  |  | 57,503 |  |  |  | — |  |  |  | 57,503 |
Redeemable preferred stock |  |  | 9,557 |  |  |  | — |  |  |  | — |  |  |  | 9,557 |
Other |  |  | — |  |  |  | 168 |  |  |  | — |  |  |  | 168 |
Total fixed-maturity securities |  |  | 32,900 |  |  |  | 64,184 |  |  |  | — |  |  |  | 97,084 |
Equity securities |  |  | 45,550 |  |  |  | — |  |  |  | — |  |  |  | 45,550 |
Total available-for-sale securities |  |  | 78,450 |  |  |  | 64,184 |  |  |  | — |  |  |  | 142,634 |
Total |  | $ | 392,866 |  |  | $ | 64,184 |  |  | $ | — |  |  | $ | 457,050 |
Schedule of Fair Value Information for Financial Assets and Liabilities Carried on Balance Sheet | The following tables present fair value information for assets and liabilities that are carried on the balance sheet at amounts other than fair value as of June 30, 2015 and December 31, 2014:
|  | Fair Value Measurements Using |  |  |  |
|  | (Level 1) |  |  | (Level 2) |  |  | (Level 3) |  |  | Total |
As of June 30, 2015 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Financial Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Limited partnership investments |  | $ | — |  |  | $ | — |  |  | $ | 19,987 |  |  | $ | 19,987 |
ADC Arrangement classified as real estate investment |  | $ | — |  |  | $ | — |  |  | $ | 6,204 |  |  | $ | 6,204 |
Financial Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Long-term debt: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
8% Senior notes |  | $ | — |  |  | $ | 41,828 |  |  | $ | — |  |  | $ | 41,828 |
3.875% Convertible senior notes |  |  | — |  |  |  | — |  |  |  | 92,613 |  |  |  | 92,613 |
Total long-term debt |  | $ | — |  |  | $ | 41,828 |  |  | $ | 92,613 |  |  | $ | 134,441 |
|  | Fair Value Measurements Using |  |  |  |
|  | (Level 1) |  |  | (Level 2) |  |  | (Level 3) |  |  | Total |
As of December 31, 2014 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Financial Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
ADC Arrangement classified as real estate investment |  | $ | — |  |  | $ | — |  |  | $ | 2,835 |  |  | $ | 2,835 |
Financial Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Long-term debt: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
8% Senior notes |  | $ | — |  |  | $ | 42,955 |  |  | $ | — |  |  | $ | 42,955 |
3.875% Convertible senior notes |  |  | — |  |  |  | — |  |  |  | 93,367 |  |  |  | 93,367 |
Total long-term debt |  | $ | — |  |  | $ | 42,955 |  |  | $ | 93,367 |  |  | $ | 136,322 |

X
- Definition Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + 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 (a),(b) -URI http://asc.fasb.org/extlink&oid=36462937&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 1 -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19190-110258 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=49121117&loc=d3e13476-108611 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19207-110258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=49121117&loc=d3e13467-108611 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6447952&loc=d3e13220-108610 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 10 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=49121117&loc=d3e13433-108611 + Details
Name: | us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration