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CONSOLIDATED STATEMENTS OF INCOME
AND COMPREHENSIVE INCOME
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Click to go to the Excel version of Consolidated Statements of Income and Comprehensive Income
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Year Ended December 31 |
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2002 |
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2001 |
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2000 |
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Revenues:
Operating revenues |
$ |
4,633,278,000 |
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|
$ |
3,662,986,000 |
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|
$ |
2,877,528,000 |
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| Investment and other income |
|
89,823,000 |
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|
81,093,000 |
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|
54,837,000 |
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| Net realized investment (losses) gains |
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(18,892,000 |
) |
|
6,644,000 |
|
|
1,890,000 |
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4,704,209,000 |
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3,750,723,000 |
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2,934,255,000 |
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Expenses:
Salaries and other personnel costs |
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1,523,195,000 |
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1,263,451,000 |
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1,014,766,000 |
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| Premiums retained by agents |
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1,292,297,000 |
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960,215,000 |
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791,940,000 |
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| Other operating expenses |
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1,049,125,000 |
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853,604,000 |
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697,672,000 |
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| Provision for title losses and other claims |
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224,589,000 |
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180,646,000 |
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141,632,000 |
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| Depreciation and amortization |
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96,829,000 |
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108,348,000 |
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86,336,000 |
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| Premium taxes |
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34,658,000 |
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24,840,000 |
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22,573,000 |
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| Interest |
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33,609,000 |
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30,079,000 |
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25,460,000 |
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4,254,302,000 |
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3,421,183,000 |
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2,780,379,000 |
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| Income before income taxes and minority interests |
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449,907,000 |
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329,540,000 |
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153,876,000 |
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| Income taxes |
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149,900,000 |
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|
117,500,000 |
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|
54,700,000 |
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| Income before minority interests |
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300,007,000 |
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212,040,000 |
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99,176,000 |
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| Minority interests |
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65,640,000 |
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44,772,000 |
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16,953,000 |
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| Net income |
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234,367,000 |
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|
167,268,000 |
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|
82,223,000 |
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Other comprehensive (loss) income, net of tax (Note 17):
Unrealized (loss) gain on securities |
|
(1,199,000 |
) |
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(3,852,000 |
) |
|
1,880,000 |
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| Minimum pension liability adjustment |
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(41,644,000 |
) |
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(14,733,000 |
) |
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(1,129,000 |
) |
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(42,843,000 |
) |
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(18,585,000 |
) |
|
751,000 |
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| Comprehensive income |
$ |
191,524,000 |
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$ |
148,683,000 |
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$ |
82,974,000 |
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Per share amounts (Note 11):
Basic |
$ |
3.27 |
|
$ |
2.51 |
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$ |
1.29 |
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| Diluted |
$ |
2.92 |
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$ |
2.27 |
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$ |
1.24 |
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Weighted-average common shares outstanding (Note 11):
Basic |
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71,594,000 |
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66,568,000 |
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63,680,000 |
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| Diluted |
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82,567,000 |
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75,834,000 |
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66,050,000 |
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