$MCY
MERCURY GENERAL CORP

2016 Q4 Form 10-Q Financial Statement

#000006499616000055 Filed on November 01, 2016

View on sec.gov

Income Statement

Concept 2016 Q4 2016 Q3 2015 Q3
Revenue $737.6M $808.2M $752.4M
YoY Change -6.18% 7.41% 4.5%
Cost Of Revenue $576.3M $545.7M
YoY Change 5.61% 10.8%
Gross Profit $231.9M $206.7M
YoY Change 12.17% -9.12%
Gross Profit Margin 28.69% 27.47%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $39.50M $140.2M $132.9M
YoY Change 298.99% 5.5% 1.38%
% of Gross Profit 60.47% 64.29%
Operating Expenses $787.8M $775.5M $739.4M
YoY Change 3.47% 4.88% 8.38%
Operating Profit -$543.6M -$532.7M
YoY Change 2.06% 17.14%
Interest Expense -$1.000M $1.012M $785.0K
YoY Change 11.11% 28.92% 11.03%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$51.27M $31.63M $12.27M
YoY Change -314.25% 157.81% -66.95%
Income Tax -$25.20M $4.695M -$3.003M
% Of Pretax Income 14.85% -24.48%
Net Earnings -$26.08M $26.93M $15.27M
YoY Change -211.44% 76.36% -51.21%
Net Earnings / Revenue -3.54% 3.33% 2.03%
Basic Earnings Per Share -$0.47 $0.49 $0.28
Diluted Earnings Per Share -$0.47 $0.49 $0.28
COMMON SHARES
Basic Shares Outstanding 55.27M shares 55.26M shares 55.16M shares
Diluted Shares Outstanding 55.33M shares 55.18M shares

Balance Sheet

Concept 2016 Q4 2016 Q3 2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $24.60M $22.30M $21.10M
YoY Change 12.33% 5.69% -4.95%
LONG-TERM ASSETS
Property, Plant & Equipment $155.9M $155.7M $157.6M
YoY Change -0.78% -1.19% -1.58%
Goodwill $42.80M $42.80M $42.80M
YoY Change 0.0% 0.0% 0.0%
Intangibles $25.63M $27.14M $32.54M
YoY Change -19.17% -16.58% -12.34%
Long-Term Investments $3.548B $3.554B $3.348B
YoY Change 4.94% 6.15% -1.74%
Other Assets $45.30M $13.50M $21.00M
YoY Change 95.26% -35.71%
Total Long-Term Assets $4.764B $4.779B $4.625B
YoY Change 3.42% 3.32% 0.84%
TOTAL ASSETS
Total Short-Term Assets $24.60M $22.30M $21.10M
Total Long-Term Assets $4.764B $4.779B $4.625B
Total Assets $4.789B $4.801B $4.647B
YoY Change 3.46% 3.33% 0.82%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $112.3M $119.5M $139.3M
YoY Change -8.4% -14.21% -1.83%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $122.3M $122.2M $139.3M
YoY Change -0.24% -12.28% -6.95%
LONG-TERM LIABILITIES
Long-Term Debt $320.0M $290.0M $290.0M
YoY Change 10.34% 0.0% 0.0%
Other Long-Term Liabilities $229.3M $226.9M $192.9M
YoY Change 15.11% 17.63% 17.77%
Total Long-Term Liabilities $549.3M $516.9M $482.9M
YoY Change 12.29% 7.04% 6.41%
TOTAL LIABILITIES
Total Short-Term Liabilities $122.3M $122.2M $139.3M
Total Long-Term Liabilities $549.3M $516.9M $482.9M
Total Liabilities $3.036B $2.986B $2.817B
YoY Change 8.14% 5.99% 4.94%
SHAREHOLDERS EQUITY
Retained Earnings $1.657B $1.717B $1.732B
YoY Change -3.73% -0.83% -5.77%
Common Stock $95.53M $94.94M $91.03M
YoY Change -4.33% 4.29% 8.8%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.752B $1.816B $1.830B
YoY Change
Total Liabilities & Shareholders Equity $4.789B $4.801B $4.647B
YoY Change 3.46% 3.33% 0.82%

Cashflow Statement

Concept 2016 Q4 2016 Q3 2015 Q3
OPERATING ACTIVITIES
Net Income -$26.08M $26.93M $15.27M
YoY Change -211.44% 76.36% -51.21%
Depreciation, Depletion And Amortization $39.50M $140.2M $132.9M
YoY Change 298.99% 5.5% 1.38%
Cash From Operating Activities $82.10M $103.8M $75.50M
YoY Change 97.83% 37.48% 6.19%
INVESTING ACTIVITIES
Capital Expenditures -$4.100M -$4.000M -$5.100M
YoY Change 10.81% -21.57% -41.38%
Acquisitions
YoY Change
Other Investing Activities -$79.70M -$73.90M -$16.00M
YoY Change 131.01% 361.88% -45.39%
Cash From Investing Activities -$83.90M -$77.80M -$21.10M
YoY Change 119.63% 268.72% -44.33%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -7.800M -29.40M -34.10M
YoY Change -77.19% -13.78% 184.17%
NET CHANGE
Cash From Operating Activities 82.10M 103.8M 75.50M
Cash From Investing Activities -83.90M -77.80M -21.10M
Cash From Financing Activities -7.800M -29.40M -34.10M
Net Change In Cash -9.600M -3.400M 20.30M
YoY Change -68.93% -116.75% -4.25%
FREE CASH FLOW
Cash From Operating Activities $82.10M $103.8M $75.50M
Capital Expenditures -$4.100M -$4.000M -$5.100M
Free Cash Flow $86.20M $107.8M $80.60M
YoY Change 90.71% 33.75% 1.0%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2016
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Document Period End Date
DocumentPeriodEndDate
2016-09-30
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0000064996
CY2016Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
55270922 shares
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
MERCURY GENERAL CORP
CY2015Q4 mcy Amortized Cost On Fixed Maturity Trading Investments
AmortizedCostOnFixedMaturityTradingInvestments
2804275000 USD
CY2016Q3 mcy Amortized Cost On Fixed Maturity Trading Investments
AmortizedCostOnFixedMaturityTradingInvestments
2876287000 USD
CY2015Q4 mcy Cost Equity Security Trading Investments
CostEquitySecurityTradingInvestments
313528000 USD
CY2016Q3 mcy Cost Equity Security Trading Investments
CostEquitySecurityTradingInvestments
359193000 USD
CY2015Q4 mcy Cost Short Term Investments
CostShortTermInvestments
185353000 USD
CY2016Q3 mcy Cost Short Term Investments
CostShortTermInvestments
206744000 USD
mcy Fair Value Transfers Between Levels One Two And Three Amount
FairValueTransfersBetweenLevelsOneTwoAndThreeAmount
0 transfers
mcy Fair Value Transfers Between Levels One Two And Three Amount
FairValueTransfersBetweenLevelsOneTwoAndThreeAmount
0 transfers
mcy Number Of Subsidiaries
NumberOfSubsidiaries
14 Subsidiary
mcy Percentage Of Specific Unadjusted Broker Quotes Obtained
PercentageOfSpecificUnadjustedBrokerQuotesObtained
0.003
mcy Percentage Of Unadjusted Fair Value Obtained
PercentageOfUnadjustedFairValueObtained
0.997
mcy Performance Period Of Restricted Stock And Restricted Stock Units
PerformancePeriodOfRestrictedStockAndRestrictedStockUnits
P3Y
CY2014 mcy Performance Vesting Restricted Stock Units Three Year Performance Period Ending Years
PerformanceVestingRestrictedStockUnitsThreeYearPerformancePeriodEndingYears
2016
CY2015 mcy Performance Vesting Restricted Stock Units Three Year Performance Period Ending Years
PerformanceVestingRestrictedStockUnitsThreeYearPerformancePeriodEndingYears
2017
mcy Performance Vesting Restricted Stock Units Three Year Performance Period Ending Years
PerformanceVestingRestrictedStockUnitsThreeYearPerformancePeriodEndingYears
2018
CY2014 mcy Performance Vesting Restricted Stock Units Vesting Shares Maximum
PerformanceVestingRestrictedStockUnitsVestingSharesMaximum
153750 shares
CY2015 mcy Performance Vesting Restricted Stock Units Vesting Shares Maximum
PerformanceVestingRestrictedStockUnitsVestingSharesMaximum
179531 shares
mcy Performance Vesting Restricted Stock Units Vesting Shares Maximum
PerformanceVestingRestrictedStockUnitsVestingSharesMaximum
174844 shares
mcy Proceedsfrom Maturities Prepaymentsand Callsof Availableforsale Securities Equity
ProceedsfromMaturitiesPrepaymentsandCallsofAvailableforsaleSecuritiesEquity
2378000 USD
mcy Proceedsfrom Maturities Prepaymentsand Callsof Availableforsale Securities Equity
ProceedsfromMaturitiesPrepaymentsandCallsofAvailableforsaleSecuritiesEquity
0 USD
CY2015Q4 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
122571000 USD
CY2016Q3 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
119508000 USD
CY2015Q4 us-gaap Accrued Investment Income Receivable
AccruedInvestmentIncomeReceivable
42747000 USD
CY2016Q3 us-gaap Accrued Investment Income Receivable
AccruedInvestmentIncomeReceivable
41143000 USD
CY2015Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
299192000 USD
CY2016Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
314290000 USD
CY2015Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
8870000 USD
CY2016Q3 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
3147000 USD
us-gaap Advertising Expense
AdvertisingExpense
39000000 USD
us-gaap Advertising Expense
AdvertisingExpense
34000000 USD
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
17279000 USD
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
19878000 USD
CY2015Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1500000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
4500000 USD
CY2016Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1500000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
4600000 USD
CY2015Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
74000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
52000 shares
CY2016Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
22000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
29000 shares
CY2015Q4 us-gaap Assets Fair Value Disclosure Recurring
AssetsFairValueDisclosureRecurring
3380642000 USD
CY2015Q4 us-gaap Assets
Assets
4628645000 USD
CY2016Q3 us-gaap Assets
Assets
4801272000 USD
CY2016Q3 us-gaap Assets Fair Value Disclosure Recurring
AssetsFairValueDisclosureRecurring
3554236000 USD
CY2015Q3 us-gaap Benefits Losses And Expenses
BenefitsLossesAndExpenses
740146000 USD
us-gaap Benefits Losses And Expenses
BenefitsLossesAndExpenses
2176495000 USD
CY2016Q3 us-gaap Benefits Losses And Expenses
BenefitsLossesAndExpenses
776537000 USD
us-gaap Benefits Losses And Expenses
BenefitsLossesAndExpenses
2368091000 USD
CY2014Q4 us-gaap Cash
Cash
289907000 USD
CY2015Q3 us-gaap Cash
Cash
295184000 USD
CY2015Q4 us-gaap Cash
Cash
264221000 USD
CY2016Q3 us-gaap Cash
Cash
229857000 USD
us-gaap Cash Acquired From Acquisition
CashAcquiredFromAcquisition
7771000 USD
us-gaap Cash Acquired From Acquisition
CashAcquiredFromAcquisition
0 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
5277000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-34364000 USD
CY2015Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
CY2016Q3 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
CY2015Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.6175
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.8525
CY2016Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
620.0000
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.86
CY2015Q4 us-gaap Common Stock No Par Value
CommonStockNoParValue
0
CY2016Q3 us-gaap Common Stock No Par Value
CommonStockNoParValue
0
CY2015Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
70000000 shares
CY2016Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
70000000 shares
CY2015Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
55164000 shares
CY2016Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
55271000 shares
CY2015Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
55164000 shares
CY2016Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
55271000 shares
CY2015Q4 us-gaap Common Stock Value
CommonStockValue
90985000 USD
CY2016Q3 us-gaap Common Stock Value
CommonStockValue
94937000 USD
CY2015Q3 us-gaap Deferred Policy Acquisition Cost Amortization Expense
DeferredPolicyAcquisitionCostAmortizationExpense
132881000 USD
CY2015Q3 us-gaap Deferred Policy Acquisition Cost Amortization Expense
DeferredPolicyAcquisitionCostAmortizationExpense
132900000 USD
us-gaap Deferred Policy Acquisition Cost Amortization Expense
DeferredPolicyAcquisitionCostAmortizationExpense
401868000 USD
us-gaap Deferred Policy Acquisition Cost Amortization Expense
DeferredPolicyAcquisitionCostAmortizationExpense
401900000 USD
CY2016Q3 us-gaap Deferred Policy Acquisition Cost Amortization Expense
DeferredPolicyAcquisitionCostAmortizationExpense
140203000 USD
CY2016Q3 us-gaap Deferred Policy Acquisition Cost Amortization Expense
DeferredPolicyAcquisitionCostAmortizationExpense
140200000 USD
us-gaap Deferred Policy Acquisition Cost Amortization Expense
DeferredPolicyAcquisitionCostAmortizationExpense
421700000 USD
us-gaap Deferred Policy Acquisition Cost Amortization Expense
DeferredPolicyAcquisitionCostAmortizationExpense
421685000 USD
CY2015Q4 us-gaap Deferred Policy Acquisition Costs
DeferredPolicyAcquisitionCosts
201762000 USD
CY2016Q3 us-gaap Deferred Policy Acquisition Costs
DeferredPolicyAcquisitionCosts
206757000 USD
CY2015Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
23231000 USD
CY2016Q3 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
13521000 USD
CY2015Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
0 USD
CY2016Q3 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
2748000 USD
us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
19967000 USD
us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
19702000 USD
CY2015Q3 us-gaap Direct Premiums Written
DirectPremiumsWritten
785400000 USD
us-gaap Direct Premiums Written
DirectPremiumsWritten
2264100000 USD
CY2016Q3 us-gaap Direct Premiums Written
DirectPremiumsWritten
817000000 USD
us-gaap Direct Premiums Written
DirectPremiumsWritten
2401100000 USD
CY2015Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.28
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.93
CY2016Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.49
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.79
CY2015Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.28
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.93
CY2016Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.49
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.79
us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
106000 USD
us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
995000 USD
us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
106000 USD
us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
995000 USD
CY2015Q3 us-gaap Fair Value Option Changes In Fair Value Gain Loss1
FairValueOptionChangesInFairValueGainLoss1
-18538000 USD
us-gaap Fair Value Option Changes In Fair Value Gain Loss1
FairValueOptionChangesInFairValueGainLoss1
-64205000 USD
CY2016Q3 us-gaap Fair Value Option Changes In Fair Value Gain Loss1
FairValueOptionChangesInFairValueGainLoss1
-21132000 USD
us-gaap Fair Value Option Changes In Fair Value Gain Loss1
FairValueOptionChangesInFairValueGainLoss1
34527000 USD
CY2015Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
41828000 USD
CY2016Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
46386000 USD
CY2016Q3 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
7877000 USD
CY2016Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
1519000 USD
CY2016Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
758000 USD
CY2016Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
4906000 USD
CY2016Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
5335000 USD
CY2016Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
5349000 USD
CY2016Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
25744000 USD
CY2015Q4 us-gaap Goodwill
Goodwill
42796000 USD
CY2016Q3 us-gaap Goodwill
Goodwill
42796000 USD
CY2015Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
12267000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
46600000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
46637000 USD
CY2016Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
31625000 USD
CY2016Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
31600000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
122000000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
121994000 USD
CY2015Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-3003000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-4437000 USD
CY2016Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
4695000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
22868000 USD
CY2015Q4 us-gaap Income Tax Receivable
IncomeTaxReceivable
9041000 USD
CY2016Q3 us-gaap Income Tax Receivable
IncomeTaxReceivable
0 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
31385000 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
374000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-17509000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-2172000 USD
us-gaap Increase Decrease In Broker Dealer Related Receivables Payables Net
IncreaseDecreaseInBrokerDealerRelatedReceivablesPayablesNet
6658000 USD
us-gaap Increase Decrease In Broker Dealer Related Receivables Payables Net
IncreaseDecreaseInBrokerDealerRelatedReceivablesPayablesNet
-17272000 USD
us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
35822000 USD
us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
-22494000 USD
us-gaap Increase Decrease In Deferred Policy Acquisition Costs
IncreaseDecreaseInDeferredPolicyAcquisitionCosts
8043000 USD
us-gaap Increase Decrease In Deferred Policy Acquisition Costs
IncreaseDecreaseInDeferredPolicyAcquisitionCosts
4995000 USD
us-gaap Increase Decrease In Liability For Claims And Claims Adjustment Expense Reserve
IncreaseDecreaseInLiabilityForClaimsAndClaimsAdjustmentExpenseReserve
21079000 USD
us-gaap Increase Decrease In Liability For Claims And Claims Adjustment Expense Reserve
IncreaseDecreaseInLiabilityForClaimsAndClaimsAdjustmentExpenseReserve
97865000 USD
us-gaap Increase Decrease In Other Accounts Payable
IncreaseDecreaseInOtherAccountsPayable
10255000 USD
us-gaap Increase Decrease In Other Accounts Payable
IncreaseDecreaseInOtherAccountsPayable
2539000 USD
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
2382000 USD
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-319000 USD
us-gaap Increase Decrease In Premiums Receivable
IncreaseDecreaseInPremiumsReceivable
46952000 USD
us-gaap Increase Decrease In Premiums Receivable
IncreaseDecreaseInPremiumsReceivable
37965000 USD
us-gaap Increase Decrease In Unearned Premiums
IncreaseDecreaseInUnearnedPremiums
56562000 USD
us-gaap Increase Decrease In Unearned Premiums
IncreaseDecreaseInUnearnedPremiums
52838000 USD
CY2015Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
73530000 USD
CY2016Q3 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
73530000 USD
CY2015Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
31702000 USD
CY2016Q3 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
27144000 USD
CY2015Q3 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
30898000 USD
us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
94101000 USD
CY2016Q3 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
30371000 USD
us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
91440000 USD
CY2015Q3 us-gaap Interest Expense
InterestExpense
785000 USD
us-gaap Interest Expense
InterestExpense
2304000 USD
us-gaap Interest Expense
InterestExpense
2300000 USD
CY2016Q3 us-gaap Interest Expense
InterestExpense
1012000 USD
us-gaap Interest Expense
InterestExpense
2922000 USD
us-gaap Interest Expense
InterestExpense
2900000 USD
us-gaap Interest Paid
InterestPaid
2228000 USD
us-gaap Interest Paid
InterestPaid
2797000 USD
CY2015Q4 us-gaap Investments
Investments
3380642000 USD
CY2016Q3 us-gaap Investments
Investments
3554236000 USD
CY2015Q4 us-gaap Liabilities
Liabilities
2807760000 USD
CY2016Q3 us-gaap Liabilities
Liabilities
2985815000 USD
CY2015Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
4628645000 USD
CY2016Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
4801272000 USD
CY2015Q4 us-gaap Liabilities Fair Value Disclosure Recurring
LiabilitiesFairValueDisclosureRecurring
301785000 USD
CY2016Q3 us-gaap Liabilities Fair Value Disclosure Recurring
LiabilitiesFairValueDisclosureRecurring
293407000 USD
CY2015Q4 us-gaap Liability For Claims And Claims Adjustment Expense Property Casualty Liability
LiabilityForClaimsAndClaimsAdjustmentExpensePropertyCasualtyLiability
1146688000 USD
CY2016Q3 us-gaap Liability For Claims And Claims Adjustment Expense Property Casualty Liability
LiabilityForClaimsAndClaimsAdjustmentExpensePropertyCasualtyLiability
1244553000 USD
CY2016Q1 us-gaap Litigation Settlement Expense
LitigationSettlementExpense
27600000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-99966000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-101082000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-43464000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-142833000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
148707000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
209551000 USD
CY2015Q3 us-gaap Net Income Loss
NetIncomeLoss
15270000 USD
us-gaap Net Income Loss
NetIncomeLoss
51074000 USD
us-gaap Net Income Loss
NetIncomeLoss
51100000 USD
CY2016Q3 us-gaap Net Income Loss
NetIncomeLoss
26930000 USD
us-gaap Net Income Loss
NetIncomeLoss
99126000 USD
CY2015Q4 us-gaap Notes Payable
NotesPayable
290000000 USD
CY2016Q3 us-gaap Notes Payable
NotesPayable
290000000 USD
CY2016Q3 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
11 State
CY2015Q4 us-gaap Other Assets
OtherAssets
16826000 USD
CY2016Q3 us-gaap Other Assets
OtherAssets
33211000 USD
CY2015Q3 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
60788000 USD
us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
191017000 USD
CY2016Q3 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
59006000 USD
us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
178000000 USD
CY2015Q3 us-gaap Other Income
OtherIncome
2281000 USD
us-gaap Other Income
OtherIncome
6800000 USD
us-gaap Other Income
OtherIncome
6823000 USD
CY2016Q3 us-gaap Other Income
OtherIncome
2406000 USD
CY2016Q3 us-gaap Other Income
OtherIncome
2400000 USD
us-gaap Other Income
OtherIncome
6400000 USD
us-gaap Other Income
OtherIncome
6416000 USD
CY2015Q4 us-gaap Other Liabilities
OtherLiabilities
199187000 USD
CY2016Q3 us-gaap Other Liabilities
OtherLiabilities
226855000 USD
CY2015Q4 us-gaap Other Receivables
OtherReceivables
21925000 USD
CY2016Q3 us-gaap Other Receivables
OtherReceivables
22291000 USD
CY2015Q3 us-gaap Other Underwriting Expense
OtherUnderwritingExpense
193700000 USD
us-gaap Other Underwriting Expense
OtherUnderwritingExpense
592900000 USD
CY2016Q3 us-gaap Other Underwriting Expense
OtherUnderwritingExpense
199300000 USD
us-gaap Other Underwriting Expense
OtherUnderwritingExpense
599700000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-2291000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-3186000 USD
us-gaap Payments For Proceeds From Short Term Investments
PaymentsForProceedsFromShortTermInvestments
-210274000 USD
us-gaap Payments For Proceeds From Short Term Investments
PaymentsForProceedsFromShortTermInvestments
24366000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
102183000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
102783000 USD
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
807150000 USD
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
742671000 USD
us-gaap Payments To Acquire Available For Sale Securities Equity
PaymentsToAcquireAvailableForSaleSecuritiesEquity
573011000 USD
us-gaap Payments To Acquire Available For Sale Securities Equity
PaymentsToAcquireAvailableForSaleSecuritiesEquity
535155000 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
16384000 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
12874000 USD
CY2015Q3 us-gaap Policyholder Benefits And Claims Incurred Net
PolicyholderBenefitsAndClaimsIncurredNet
545692000 USD
CY2015Q3 us-gaap Policyholder Benefits And Claims Incurred Net
PolicyholderBenefitsAndClaimsIncurredNet
545700000 USD
us-gaap Policyholder Benefits And Claims Incurred Net
PolicyholderBenefitsAndClaimsIncurredNet
1581300000 USD
us-gaap Policyholder Benefits And Claims Incurred Net
PolicyholderBenefitsAndClaimsIncurredNet
1581306000 USD
CY2016Q3 us-gaap Policyholder Benefits And Claims Incurred Net
PolicyholderBenefitsAndClaimsIncurredNet
576300000 USD
CY2016Q3 us-gaap Policyholder Benefits And Claims Incurred Net
PolicyholderBenefitsAndClaimsIncurredNet
576316000 USD
us-gaap Policyholder Benefits And Claims Incurred Net
PolicyholderBenefitsAndClaimsIncurredNet
1765500000 USD
us-gaap Policyholder Benefits And Claims Incurred Net
PolicyholderBenefitsAndClaimsIncurredNet
1765484000 USD
CY2015Q4 us-gaap Premiums And Other Receivables Net
PremiumsAndOtherReceivablesNet
501293000 USD
CY2016Q3 us-gaap Premiums And Other Receivables Net
PremiumsAndOtherReceivablesNet
538020000 USD
CY2015Q3 us-gaap Premiums Earned Net
PremiumsEarnedNet
745500000 USD
us-gaap Premiums Earned Net
PremiumsEarnedNet
2197800000 USD
CY2016Q3 us-gaap Premiums Earned Net
PremiumsEarnedNet
790900000 USD
us-gaap Premiums Earned Net
PremiumsEarnedNet
2337300000 USD
CY2015Q3 us-gaap Premiums Earned Net Property And Casualty
PremiumsEarnedNetPropertyAndCasualty
745520000 USD
us-gaap Premiums Earned Net Property And Casualty
PremiumsEarnedNetPropertyAndCasualty
2197803000 USD
CY2016Q3 us-gaap Premiums Earned Net Property And Casualty
PremiumsEarnedNetPropertyAndCasualty
790850000 USD
us-gaap Premiums Earned Net Property And Casualty
PremiumsEarnedNetPropertyAndCasualty
2337256000 USD
CY2015Q4 us-gaap Premiums Receivable At Carrying Value
PremiumsReceivableAtCarryingValue
436621000 USD
CY2016Q3 us-gaap Premiums Receivable At Carrying Value
PremiumsReceivableAtCarryingValue
474586000 USD
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
283311000 USD
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
421737000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
211724000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
230909000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities Equity
ProceedsFromSaleOfAvailableForSaleSecuritiesEquity
641854000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities Equity
ProceedsFromSaleOfAvailableForSaleSecuritiesEquity
499126000 USD
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
136000 USD
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
3000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
2111000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
706000 USD
CY2015Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
157131000 USD
CY2016Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
155730000 USD
CY2015Q3 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
-26286000 USD
us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
-75595000 USD
CY2016Q3 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
-15500000 USD
CY2016Q3 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
-15465000 USD
us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
55000000 USD
us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
54973000 USD
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1721030000 USD
CY2016Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1717373000 USD
CY2015Q3 us-gaap Revenues
Revenues
752413000 USD
us-gaap Revenues
Revenues
2223132000 USD
CY2016Q3 us-gaap Revenues
Revenues
808162000 USD
us-gaap Revenues
Revenues
2490085000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
2946000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
-3472000 USD
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
82000 shares
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
95750 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
93250 shares
CY2015Q4 us-gaap Short Term Investments
ShortTermInvestments
185277000 USD
CY2016Q3 us-gaap Short Term Investments
ShortTermInvestments
206851000 USD
CY2015Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1820885000 USD
CY2016Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1815457000 USD
CY2015Q4 us-gaap Trading Securities Debt
TradingSecuritiesDebt
2880003000 USD
CY2016Q3 us-gaap Trading Securities Debt
TradingSecuritiesDebt
2972927000 USD
CY2015Q4 us-gaap Trading Securities Equity
TradingSecuritiesEquity
315362000 USD
CY2016Q3 us-gaap Trading Securities Equity
TradingSecuritiesEquity
374458000 USD
CY2015Q3 us-gaap Underwriting Income Loss
UnderwritingIncomeLoss
6100000 USD
us-gaap Underwriting Income Loss
UnderwritingIncomeLoss
23600000 USD
CY2016Q3 us-gaap Underwriting Income Loss
UnderwritingIncomeLoss
15300000 USD
us-gaap Underwriting Income Loss
UnderwritingIncomeLoss
-27900000 USD
CY2015Q4 us-gaap Unearned Premiums
UnearnedPremiums
1049314000 USD
CY2016Q3 us-gaap Unearned Premiums
UnearnedPremiums
1102151000 USD
us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
600000 USD
CY2015Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
55178000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
55172000 shares
CY2016Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
55328000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
55304000 shares
CY2015Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
55164000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
55154000 shares
CY2016Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
55259000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
55238000 shares
us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
DescriptionOfNewAccountingPronouncementsNotYetAdopted
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Recently Issued Accounting Standards</font></div><div style="line-height:120%;padding-top:12px;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In August 2016, the Financial Accounting Standards Board (the "FASB") issued Accounting Standards Update ("ASU") 2016-15, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">"Classification of Certain Cash Receipts and Cash Payments (Topic 230)." </font><font style="font-family:inherit;font-size:10pt;">The new guidance is intended to reduce diversity in how certain transactions are classified in the consolidated statement of cash flows. ASU 2016-15 will be effective for the Company beginning January 1, 2018. The Company is evaluating the impact that ASU 2016-15 will have on its consolidated financial statements and related disclosures.</font></div><div style="line-height:120%;padding-top:12px;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In June 2016, the FASB issued ASU 2016-13, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">"Financial Instruments - Credit Losses (Topic 326)." </font><font style="font-family:inherit;font-size:10pt;">The amendments in this ASU replace the "incurred loss" methodology for recognizing credit losses with a methodology that reflects expected credit losses and requires consideration of a broader range of information including past events, current conditions and reasonable and supportable forecasts that affect the collectability of reported amounts of financial assets that are not accounted for at fair value through net income, such as loans, debt securities, trade receivables, net investment in leases, off-balance sheet credit exposures and reinsurance receivables. Under the current GAAP incurred loss methodology, recognition of the full amount of credit losses is generally delayed until the loss is probable of incurring. Current GAAP restricts the ability to record credit losses that are expected, but do not yet meet the probability threshold. ASU 2016-13 becomes effective for the Company beginning with the first quarter ending March 31, 2020. The Company is evaluating the impact that ASU 2016-13 will have on its consolidated financial statements and related disclosures.</font></div><div style="line-height:120%;padding-top:12px;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In March 2016, the FASB issued ASU 2016-09, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">"Compensation - Stock Compensation (Topic 718),"</font><font style="font-family:inherit;font-size:10pt;"> which simplifies several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. ASU 2016-09 becomes effective for the Company beginning January 1, 2017 and is required to be applied on a modified retrospective basis. The Company is evaluating the impact that ASU 2016-09 will have on its consolidated financial statements and related disclosures.</font></div><div style="line-height:120%;padding-top:12px;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In February 2016, the FASB issued ASU 2016-02,</font><font style="font-family:inherit;font-size:10pt;font-style:italic;"> "Leases (Topic 842)," </font><font style="font-family:inherit;font-size:10pt;">which supersedes the guidance in Accounting Standards Codification ("ASC") 840, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">"Leases."</font><font style="font-family:inherit;font-size:10pt;"> ASU 2016-02 requires a lessee to recognize lease assets and lease liabilities resulting from all leases. ASU 2016-02 retains the distinction between a finance lease and an operating lease. Lessor accounting is largely unchanged from ASC 840. ASU 2016-02 becomes effective for the Company beginning January 1, 2019. However, in transition, the Company will be required to recognize and measure leases at the beginning of the earliest period (the first quarter of 2017) using a modified retrospective approach. The Company is evaluating the effect that ASU 2016-02 will have on its consolidated financial statements and related disclosures.</font></div><div style="line-height:120%;padding-top:12px;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In January 2016, the FASB issued ASU 2016-01, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">"Financial Instruments-Overall (Subtopic 825-10), Recognition and Measurement of Financial Assets and Financial Liabilities."</font><font style="font-family:inherit;font-size:10pt;"> The amendments in this ASU address certain aspects of recognition, measurement, presentation and disclosure of financial instruments. ASU 2016-01: (1) requires equity investments (except those accounted for under the equity method or those that result in the consolidation of the investee) to be measured at fair value with changes in the fair value recognized in net income; (2) simplifies the impairment assessment of equity investments without readily determinable fair values by requiring a qualitative assessment to identify impairment; (3) eliminates the requirement for public business entities to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet; (4) requires the use of the exit price notion when measuring the fair value of financial instruments for disclosure purposes; (5) requires separate presentation of financial assets and financial liabilities by measurement category and form of financial asset on the balance sheet or the notes to the financial statements; and (6) clarifies that an entity should evaluate the need for a valuation allowance on a deferred tax asset related to available-for-sale securities in combination with the entity&#8217;s other deferred tax assets. ASU 2016-01 is effective for the Company beginning January 1, 2018. The Company does not anticipate that ASU 2016-01 will have a material impact on its consolidated financial statements and related disclosures.</font></div><div style="line-height:120%;padding-top:12px;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In May 2015, the FASB issued ASU 2015-09, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">"Financial Services -Insurance (Topic 944), Disclosures About Short-Duration Contracts."</font><font style="font-family:inherit;font-size:10pt;"> ASU 2015-09 requires insurance entities to provide additional disclosures related to claims liabilities. The additional disclosure requirements for the annual reports include: (1) claims development information by accident year, on a net of reinsurance basis, for the number of years for which claims incurred remain outstanding but not to exceed the most recent 10 years, and for the most recent reporting period presented, an insurer also needs to disclose the amount of total net outstanding claims for all accident years included in the claims development tables; (2) a reconciliation of claims development information and the aggregate carrying amount of the liability for unpaid claims and claim adjustment expenses; and (3) information about the claims frequency and the amount of the incurred-but-not-reported liabilities for each accident year presented. In addition, a description of the methodology used to determine the amounts disclosed is required. The roll forward of the liability for unpaid claims and claims adjustment expenses, currently required only for annual periods, will also be required for interim periods. ASU 2015-09 becomes effective for the Company beginning with the annual period ending December 31, 2016, and quarter periods beginning with the first quarter of 2017. Although the adoption of this standard will not have a material impact on its consolidated financial statements, the Company will expand the nature and extent of its insurance contracts disclosures.</font></div><div style="line-height:120%;padding-top:12px;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In February 2015, the FASB issued ASU 2015-02, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">"Consolidation (Topic 810), Amendments to the Consolidation Analysis" </font><font style="font-family:inherit;font-size:10pt;">affecting the consolidation evaluation of limited partnerships and similar entities, fees paid to a decision maker or a service provider as a variable interest, and variable interests in a variable interest entity held by related parties of the reporting entities. The amendments became effective for the Company on January 1, 2016. As in previous GAAP, consolidation analysis under ASU 2015-02 contains two primary consolidation models: the voting control model and the variable interest ("VIE") model. An entity being evaluated for consolidation is required to first be subjected to the requirements of the VIE model. Only if the entity fails to meet the requirements to be consolidated under the VIE model, would the voting control consolidation model apply. The adoption of ASU 2015-02 did not have an impact on the Company's consolidated financial statements and related disclosures. </font></div><div style="line-height:120%;padding-top:12px;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In May 2014, the FASB issued ASU 2014-09, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Revenue from Contracts with Customers (Topic 606)."</font><font style="font-family:inherit;font-size:10pt;"> ASU 2014-09 requires entities to apply a five-step model to determine the amount and timing of revenue recognition. The model specifies, among other criteria, that revenue should be recognized when an entity transfers control of goods or services to a customer in the amount to which the entity expects to be entitled. In August 2015, the FASB issued ASU 2015-14, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">"Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date,"</font><font style="font-family:inherit;font-size:10pt;"> which deferred the effective date of ASU 2014-09 for the Company to January 1, 2018. Through the first half of 2016, the FASB issued additional ASUs on Topic 606 that do not change the core principle of the guidance in ASU 2014-09 but merely clarify certain aspects of it. The additional ASUs also become effective for the Company beginning January 1, 2018. The Company is evaluating the impact that these ASUs will have on its consolidated financial statements and related disclosures.</font></div></div>
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:6px;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. These estimates require the Company to apply complex assumptions and judgments, and often the Company must make estimates about the effects of matters that are inherently uncertain and will likely change in subsequent periods. The most significant assumptions in the preparation of these condensed consolidated financial statements relate to reserves for losses and loss adjustment expenses. Actual results could differ from those estimates. See Note 1 "Summary of Significant Accounting Policies" of the Notes to Consolidated Financial Statements in the Company&#8217;s Annual Report on Form 10-K for the year ended </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">.</font></div></div>

Files In Submission

Name View Source Status
0000064996-16-000055-index-headers.html Edgar Link pending
0000064996-16-000055-index.html Edgar Link pending
0000064996-16-000055.txt Edgar Link pending
0000064996-16-000055-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
mcy-20160930.xml Edgar Link completed
mcy-20160930.xsd Edgar Link pending
mcy-20160930_cal.xml Edgar Link unprocessable
mcy-20160930_def.xml Edgar Link unprocessable
mcy-20160930_lab.xml Edgar Link unprocessable
mcy-20160930_pre.xml Edgar Link unprocessable
mcy-2016930x10qxexhibit151.htm Edgar Link pending
mcy-2016930x10qxexhibit152.htm Edgar Link pending
mcy-2016930x10qxexhibit311.htm Edgar Link pending
mcy-2016930x10qxexhibit312.htm Edgar Link pending
mcy-2016930x10qxexhibit321.htm Edgar Link pending
mcy-2016930x10qxexhibit322.htm Edgar Link pending
mcy-2016930xq3.htm Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending