v2.4.1.9
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Schedule II
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12 Months Ended |
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| Schedule II [Abstract] |
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| Schedule II - Condensed Financial Information of Parent Company |
Platinum Underwriters Holdings, Ltd. Condensed Financial Information of Registrant Condensed Balance Sheets – Parent Company Only ($ in thousands, except share data)
| 2014 | | | 2013 | | ASSETS | | | | | | | $ | 1,627,917 | | | $ | 1,658,425 | | Cash and cash equivalents | | 113,773 | | | | 88,402 | | Inter-company receivables | | 11,246 | | | | 9,739 | | Other assets | | 2,253 | | | | 2,135 | | Total assets | $ | 1,755,189 | | | $ | 1,758,701 | | | | | | | | | | LIABILITIES AND SHAREHOLDERS' EQUITY | | | | | | Liabilities | | | | | | | | Other liabilities | $ | 17,164 | | | $ | 11,994 | | Total liabilities | $ | 17,164 | | | $ | 11,994 | | Shareholders' equity | | | | | | | | Common shares, $0.01 par value, 200,000,000 shares authorized | $ | 248 | | | $ | 281 | | 24,840,539 and 28,142,977 shares issued and outstanding, respectively. | | | | | | | | Additional paid-in capital | | 2,415 | | | | 10,711 | | Accumulated other comprehensive income | | 92,689 | | | | 48,084 | | Retained earnings | | 1,642,673 | | | | 1,687,631 | | Total shareholders' equity | $ | 1,738,025 | | | $ | 1,746,707 | | Total liabilities and shareholders' equity | $ | 1,755,189 | | | $ | 1,758,701 | |
See accompanying report of the independent registered public accounting firm.
SCHEDULE II, continued Platinum Underwriters Holdings, Ltd. Condensed Financial Information of Registrant Condensed Statements of Operations – Parent Company Only ($ in thousands)
| | 2014 | | | 2013 | | | 2012 | | Revenue: | | | | | | | | | | | | | Net investment income | | $ | 34 | | | $ | 24 | | | $ | 10 | | Other income (expense) | | | 5,672 | | | | 6,737 | | | | 5,481 | | Total revenue | | | 5,706 | | | | 6,761 | | | | 5,491 | | | | | | | | | | | | | | | Expenses: | | | | | | | | | | | | | Operating expenses | | | 29,206 | | | | 26,313 | | | | 24,733 | | Total expenses | | | 29,206 | | | | 26,313 | | | | 24,733 | | | | | | | | | | | | | | | Income (loss) before income taxes | | | (23,500 | ) | | | (19,552 | ) | | | (19,242 | ) | Income tax expense (benefit) | | | - | | | | - | | | | - | | | | | (23,500 | ) | | | (19,552 | ) | | | (19,242 | ) | | | | 188,268 | | | | 242,830 | | | | 346,470 | | Net income | | $ | 164,768 | | | $ | 223,278 | | | $ | 327,228 | |
See accompanying report of the independent registered public accounting firm.
SCHEDULE II, continued
Platinum Underwriters Holdings, Ltd. Condensed Financial Information of Registrant Condensed Statements of Comprehensive Income – Parent Company Only ($ in thousands) | 2014 | | | 2013 | | | 2012 | | | | | | | | | | | | | | Net income | $ | 164,768 | | | $ | 223,278 | | | $ | 327,228 | | | | | | | | | | | | | | Other comprehensive income (loss) due to change in accumulated other comprehensive income (loss) of subsidiaries | | 44,605 | | | | (89,606 | ) | | | (8,945 | ) | | | | | | | | | | | | | Comprehensive income | $ | 209,373 | | | $ | 133,672 | | | $ | 318,283 | |
See accompanying report of the independent registered public accounting firm.
SCHEDULE II, continued Platinum Underwriters Holdings, Ltd. Condensed Financial Information of Registrant Condensed Statements of Cash Flows – Parent Company Only ($ in thousands)
| 2014 | | | 2013 | | | 2012 | | Net cash provided by (used in) operating activities | $ | (15,010 | ) | | $ | (9,510 | ) | | $ | (10,275 | ) | | | | | | | | | | | | | Investing Activities: | | | | | | | | | | | | | | 264,000 | | | | 318,300 | | | | 155,000 | | Acquisitions of furniture, equipment and other assets | | - | | | | (957 | ) | | | - | | Net cash provided by (used in) investing activities | | 264,000 | | | | 317,343 | | | | 155,000 | | | | | | | | | | | | | | Financing Activities: | | | | | | | | | | | | Dividends paid to common shareholders | | (8,329 | ) | | | (9,434 | ) | | | (10,747 | ) | Repurchase of common shares | | (215,684 | ) | | | (303,294 | ) | | | (115,702 | ) | Proceeds from share-based compensation | | 394 | | | | 22,693 | | | | 4,537 | | Net cash provided by (used in) financing activities | | (223,619 | ) | | | (290,035 | ) | | | (121,912 | ) | | | | | | | | | | | | | Net increase (decrease) in cash and cash equivalents | | 25,371 | | | | 17,798 | | | | 22,813 | | Cash and cash equivalents at beginning of year | | 88,402 | | | | 70,604 | | | | 47,791 | | Cash and cash equivalents at end of year | $ | 113,773 | | | $ | 88,402 | | | $ | 70,604 | | | | | | | | | | | | | | Supplemental disclosures of cash flow information: | | | | | | | | | | | | Income taxes paid, net of refunds | $ | - | | | $ | - | | | $ | - | | Interest paid | $ | - | | | $ | - | | | $ | - | |
See accompanying report of the independent registered public accounting firm. |
| X |
- Definition
The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 06
-Article 9
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04)
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=7656940&loc=d3e5283-111683
Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Article 12
Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Paragraph c
-Article 5
Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 05
-Paragraph c
-Article 7
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| Balance Type: |
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