ARCH CAPITAL GROUP LTD. ACGL Income Statement

Arch capital group ltd. (ACGL)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10	Sep'09	Jun'09
Revenues
Net premiums written
2,137,246	1,455,453	1,613,457	1,444,898	1,525,259	1,301,754	1,333,553	1,298,896	1,412,544	1,111,015	1,325,403	1,248,695	1,276,260	872,315	1,014,278	1,023,563	1,121,235	834,984	971,972	943,580	1,066,995	895,481	959,539	971,928	1,064,990	748,921	839,135	810,535	952,776	613,142	755,249	820,233	863,611	511,124	691,381	706,543	764,278	482,911	636,117	624,258	767,754	727,308	693,854
Change in unearned premiums
-392,802	-252,781	175,434	-18,829	-156,393	-297,225	42,675	-37,867	177,645	-347,422	63,517	7,821	159,243	-389,678	55,875	17,578	169,656	-275,788	35,289	142	156,731	-624,064	55,888	64,776	205,210	-90,445	44,135	51,719	200,006	-166,339	6,558	93,577	183,299	-162,068	9,332	63,664	130,583	-149,235	8,708	1,247	97,837	-7,077	-5,404
Net premiums earned
1,744,444	1,515,882	1,438,023	1,463,727	1,368,866	1,369,435	1,290,878	1,336,763	1,234,899	1,224,755	1,261,886	1,240,874	1,117,017	968,855	958,403	1,005,985	951,579	943,520	936,683	943,438	910,264	923,165	903,651	907,152	859,780	839,366	795,000	758,816	752,770	779,481	748,691	726,656	680,312	673,192	682,049	642,879	633,695	632,146	627,409	623,011	669,917	734,385	699,258
Net investment income
145,153	154,263	161,488	155,038	156,949	157,217	144,024	135,668	126,724	125,415	116,459	111,124	117,874	91,051	93,618	88,338	93,735	95,900	86,233	86,963	78,994	82,496	80,105	72,990	66,994	67,095	66,083	68,369	65,672	73,769	73,221	73,608	74,297	80,467	82,753	86,671	88,307	90,601	90,768	90,537	92,972	100,213	100,485
Net realized gains (losses)
-366,960	42,783	62,518	120,806	140,256	-166,030	-51,705	-76,611	-110,998	26,978	66,275	21,735	34,153	-93,061	125,105	68,218	37,324	-143,767	-89,698	-35,725	83,348	10,561	18,515	54,144	19,697	9,048	-6,022	12,652	58,340	54,849	60,391	34,867	44,121	14,542	30,199	45,210	20,695	74,027	68,828	62,114	47,782	70,638	-11,793
Other-than-temporary impairment losses
-	-	1,163	49	-	-	492	470	162	-	1,878	1,730	1,807	13,795	3,867	5,395	7,737	8,878	8,901	1,126	7,247	4,157	8,593	14,749	2,971	88	901	724	2,248	6,046	2,644	2,454	1,031	3,443	5,180	1,969	3,258	3,340	2,679	4,718	2,336	7,860	20,657
Less investment impairments recognized in other comprehensive income, before taxes
-	-	0	0	-	-	0	0	0	-	0	0	0	202	0	52	98	1,542	3,033	13	1,448	320	0	0	0	0	173	0	2	11	265	503	8	1,484	2,441	285	578	-110	-604	-308	-730	-3,217	206
Net impairment losses recognized in earnings
-	-	1,163	49	-	1,705	492	470	162	1,723	1,878	1,730	1,807	13,593	3,867	5,343	7,639	7,336	5,868	1,113	5,799	3,837	8,593	14,749	2,971	88	728	724	2,246	6,035	2,379	1,951	1,023	1,959	2,739	1,684	2,680	3,230	2,075	4,410	1,606	4,643	20,863
Other underwriting income
6,852	6,757	3,326	5,953	8,825	27	5,823	3,874	5,349	14,734	6,064	4,822	4,633	18,922	7,980	25,224	5,047	8,621	7,623	7,717	11,536	4,825	1,702	2,033	1,582	5,673	526	902	538	5,664	1,077	806	543	982	848	784	815	2,814	874	883	794	826	817
Equity in net income (loss) of investment funds accounted for using the equity method
-4,200	27,106	17,130	32,536	46,900	-6,882	15,982	8,472	28,069	30,402	31,090	32,706	48,088	16,421	16,662	8,737	6,655	5,517	-2,118	16,167	5,889	2,424	4,966	9,240	3,253	5,272	5,665	10,941	13,823	16,567	24,330	7,787	24,826	-14,702	-30,549	5,973	29,673	22,990	9,708	-348	29,050	69,119	75,890
Other income
8,548	-1,317	1,338	1,129	1,083	-42	-726	3,113	74	547	-342	-1,994	-782	-368	-400	-7	-25	-451	-265	2,205	-1,888	-5,183	-7,815	4,850	-2,104	-3,288	624	834	1,244	-4,189	-532	695	-8,068	-4,848	2,432	-4,265	4,567	6,165	1,840	4,528	5,978	5,687	4,950
Total revenues
1,533,828	1,743,554	1,682,660	1,779,140	1,722,846	1,352,020	1,403,784	1,410,809	1,283,955	1,421,108	1,479,554	1,407,537	1,319,176	988,227	1,197,501	1,191,152	1,086,676	902,004	932,590	1,019,652	1,082,344	1,014,451	992,531	1,035,660	946,231	923,078	861,148	851,790	890,141	920,106	904,799	842,468	815,008	747,674	764,993	775,568	775,072	825,513	797,352	776,315	844,887	976,225	848,744
Expenses
Losses and loss adjustment expenses
1,115,419	844,922	802,455	767,543	718,532	827,673	699,420	726,153	636,860	678,875	1,046,141	689,860	552,570	553,875	524,183	584,592	522,949	506,020	531,741	519,426	493,716	495,819	501,673	485,518	436,240	434,323	427,045	418,653	399,403	622,506	443,871	399,693	395,207	378,067	423,984	431,622	493,880	367,326	359,193	363,145	428,051	444,914	398,858
Acquisition expenses
247,283	221,888	211,120	210,089	197,848	209,319	201,602	202,838	191,376	208,879	193,854	190,436	182,289	165,843	161,267	172,677	167,838	152,711	171,566	175,425	163,076	175,215	163,547	158,158	160,342	157,521	147,313	131,677	127,592	133,568	128,065	128,289	118,962	123,339	120,205	110,639	108,754	104,824	111,279	107,475	117,624	122,739	123,814
Other operating expenses
234,544	204,408	196,512	198,914	201,163	165,515	161,098	176,181	175,015	169,624	170,127	169,981	174,719	163,342	153,286	157,314	150,148	147,996	146,220	151,190	157,882	104,651	149,480	156,350	145,799	135,069	118,070	127,408	120,183	127,751	113,429	117,701	106,472	110,077	106,321	112,842	102,882	121,390	103,121	101,533	106,806	99,743	99,294
Corporate expenses
20,796	26,837	17,061	18,251	17,962	26,835	14,335	22,512	15,312	13,986	17,098	24,876	27,792	36,678	18,485	17,200	9,383	-	10,739	17,418	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of intangible assets
16,631	21,890	20,003	19,794	20,417	26,147	26,315	26,472	26,736	31,836	31,824	30,824	31,294	4,850	4,865	4,880	4,748	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest expense
32,555	31,199	31,328	29,280	29,065	29,774	29,730	30,344	30,636	30,496	29,510	28,749	28,676	18,539	15,943	15,663	16,107	15,827	13,300	4,011	12,736	12,744	4,152	14,334	14,404	9,373	5,937	5,852	5,898	6,187	7,378	7,439	7,521	8,087	8,125	7,758	7,721	7,460	7,371	7,916	7,260	6,001	5,712
Net foreign exchange (gains) losses
72,671	-52,306	33,124	-4,952	3,525	24,579	10,838	53,706	-19,721	-28,807	-28,028	-39,543	-19,404	38,176	-2,621	24,662	-23,566	4,520	14,680	-19,583	66,501	36,570	56,031	-2,294	-6,563	-9,848	-40,562	13,811	24,264	-22,997	-16,959	31,689	-20,688	12,613	60,040	-18,375	-36,912	6,039	-65,157	48,625	38,601	-19,755	-53,658
Total expenses
1,594,557	1,403,450	1,245,355	1,248,823	1,181,462	1,260,684	1,121,662	1,130,794	1,095,656	1,162,503	1,516,582	1,174,269	1,016,744	904,951	880,650	927,664	894,739	862,548	858,886	887,053	760,909	801,803	762,821	816,654	763,348	746,134	738,927	669,779	628,812	913,009	709,702	621,433	648,850	606,957	598,595	681,236	750,149	594,961	646,121	531,444	621,140	693,152	681,336
Income (loss) before income taxes
-60,729	340,104	437,305	530,317	541,384	91,336	282,122	280,015	188,299	258,605	-37,028	233,268	302,432	83,276	316,851	263,488	191,937	39,456	73,704	132,599	321,435	212,648	229,710	219,006	182,883	176,944	122,221	182,011	261,329	7,097	195,097	221,035	166,158	140,717	166,398	94,332	24,923	230,552	151,231	244,871	223,747	283,073	167,408
Income tax expense
27,945	27,336	38,116	44,472	45,886	35,012	33,356	23,668	21,915	56,813	8,189	34,169	28,397	-12,298	13,231	14,131	16,310	11,450	9,704	6,780	12,678	5,514	6,446	7,289	3,738	15,454	7,396	5,071	4,853	-12,120	5,441	767	1,902	-4,615	-2,357	-2,271	-550	-3,644	3,200	1,420	6,753	2,205	8,818
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
-88,674	312,768	399,189	485,845	495,498	56,324	248,766	256,347	166,384	201,792	-45,217	199,099	274,035	95,574	303,620	249,357	175,627	28,006	64,000	125,819	308,757	207,134	223,264	211,717	179,145	-	-	176,940	256,476	-	-	-	-	-	-	-	-	-	-	-	216,994	280,868	158,590
Net Income (Loss) Attributable to Noncontrolling Interest
-232,791	-13,616	6,736	16,891	46,970	-80,170	21,358	12,701	15,961	-12,848	-11,561	13,932	20,908	21,561	50,748	38,302	20,829	-30,573	-16,033	10,029	25,421	-8,030	-5,411	3,701	-3,355	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income available to Arch
144,117	326,384	392,453	468,954	448,528	136,494	227,408	243,646	150,423	214,640	-33,656	185,167	253,127	74,013	252,872	211,055	154,798	58,579	80,033	115,790	283,336	215,164	228,675	208,016	182,500	161,490	114,825	176,940	256,476	19,217	189,656	220,268	164,256	145,332	168,755	96,603	25,473	-	148,031	243,451	-	-	-
Dividends, Preferred Stock
10,403	10,403	10,403	10,403	10,403	10,403	10,402	10,403	10,437	11,105	12,369	11,349	11,218	11,617	5,484	5,485	5,484	5,485	5,484	5,485	5,484	5,485	5,484	5,485	5,484	5,485	5,484	5,485	5,484	5,485	5,484	7,649	6,461	6,461	6,461	6,461	6,461	6,461	6,461	6,461	6,461	6,461	6,461
Loss on redemption of preferred shares
-	-	0	0	-	0	0	0	2,710	0	6,735	0	0	-	0	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	0	10,612	-	-	-	-	-	-	-	-	-	-	-
Net income available to Arch common shareholders
133,714	315,981	382,050	458,551	438,125	126,091	217,006	233,243	137,276	203,535	-52,760	173,818	241,909	62,396	247,388	205,570	149,314	53,094	74,549	110,305	277,852	209,679	223,191	202,531	177,016	156,005	109,341	171,455	250,992	13,732	184,172	202,007	157,795	138,871	162,294	90,142	19,012	227,735	141,570	236,990	210,533	274,407	152,129
Net income per common share and common share equivalent
Basic (per share)
0.33	0.79	0.95	1.14	1.09	0.30	0.54	0.58	0.34	-0.70	-0.13	0.43	1.80	-3.16	2.05	1.70	1.24	0.47	0.62	0.91	2.24	1.65	1.69	1.53	1.34	1.18	0.83	1.31	1.92	0.11	1.36	1.50	1.18	1.04	1.23	0.69	0.14	-1.05	0.96	1.55	3.97	4.56	2.52
Diluted (per share)
0.32	0.76	0.92	1.12	1.07	0.31	0.53	0.56	0.33	-0.67	-0.13	0.42	1.74	-3.05	1.98	1.65	1.20	0.45	0.60	0.88	2.16	1.60	1.64	1.48	1.30	1.16	0.80	1.26	1.85	0.10	1.33	1.46	1.14	1.00	1.18	0.65	0.14	-1.01	0.92	1.48	3.79	4.39	2.43
Weighted average common shares and common share equivalents outstanding
Basic (shares)
403,892	402,979	402,564	401,482	400,184	402,111	402,939	404,800	407,539	674,402	404,656	403,459	134,034	1,087,539	120,938	120,599	120,428	120,648	120,567	121,719	124,209	126,815	131,945	132,650	131,857	131,641	131,495	131,377	130,907	134,233	135,067	134,529	133,954	132,595	131,560	131,232	133,499	249,185	146,993	152,962	53,039	60,156	60,417
Diluted (shares)
414,033	413,387	413,180	410,899	408,971	408,899	411,721	413,111	417,893	709,702	404,656	417,733	139,047	1,122,816	124,931	124,365	124,496	124,806	125,011	125,885	128,451	130,360	135,876	136,889	136,562	135,815	136,034	135,849	135,409	138,311	138,696	138,211	137,814	137,581	137,140	137,975	140,460	261,404	153,546	159,795	55,513	62,533	62,626