2. Supplemental Information on Insurance and Real
Estate Subsidiaries The insurance subsidiary
was formed primarily for the purpose of insuring products liability risks
of the parent company and its subsidiaries. The real estate subsidiary was
formed for the purpose of participating in site-built housing
construction. As of April 30, 2000, the investment in real estate
consisted of raw land, and there were no real estate development
activities in process. Condensed financial information for these
subsidiaries, excluding intercompany eliminations, is as
follows:
(Amounts in thousands) |
|
2000 |
|
|
1999 |
|
|
1998 |
|
|
|
|
|
|
|
|
|
|
Insurance subsidiary: |
|
|
|
|
|
|
|
|
|
Investments |
$ |
42,989 |
|
$ |
44,132 |
|
$ |
51,482 |
|
Other assets |
|
17,443 |
|
|
13,936 |
|
|
10,197 |
|
Reserves for losses |
|
26,682 |
|
|
26,073 |
|
|
26,339 |
|
Other liabilities |
|
4,854 |
|
|
5,758 |
|
|
12,919 |
|
Net premiums |
|
3,806 |
|
|
4,327 |
|
|
2,524 |
|
Underwriting income |
|
2,061 |
|
|
4,569 |
|
|
23,780 |
|
Investment income |
|
2,553 |
|
|
3,069 |
|
|
3,610 |
|
Net income |
|
2,909 |
|
|
4,834 |
|
|
17,468 |
|
|
|
|
|
|
|
|
|
|
Real estate subsidiary: |
|
|
|
|
|
|
|
|
|
Land |
$ |
2,800 |
|
$ |
2,800 |
|
$ |
2,800 |
|
Other assets |
|
1,035 |
|
|
1,056 |
|
|
1,078 |
|
Net loss |
|
(21) |
|
|
(22) |
|
|
(5) |
|
|
|