XML 18 R6.htm IDEA: XBRL DOCUMENT v3.20.2
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Statement of Cash Flows [Abstract]    
Net income $ 4,020.3 $ 2,905.4
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 201.2 171.0
Amortization of intangible assets 42.8 51.7
Net amortization of fixed-income securities 72.4 14.1
Amortization of equity-based compensation 61.9 64.7
Net realized (gains) losses on securities (869.8) (659.8)
Net (gains) losses on disposition of property and equipment 4.8 (0.1)
Changes in:    
Premiums receivable (1,067.0) (1,190.1)
Reinsurance recoverables (608.4) (602.3)
Prepaid reinsurance premiums 163.1 (149.1)
Deferred acquisition costs (208.5) (142.1)
Income taxes (78.1) 179.7
Unearned premiums 1,810.5 1,840.0
Loss and loss adjustment expense reserves 1,483.8 1,969.2
Accounts payable, accrued expenses, and other liabilities 319.7 920.5
Other, net 9.6 (239.4)
Net cash provided by operating activities 5,358.3 5,133.4
Purchases:    
Fixed maturities (25,974.9) (20,105.3)
Equity securities (781.8) (291.9)
Sales:    
Fixed maturities 18,412.9 12,112.9
Equity securities 396.2 175.7
Maturities, paydowns, calls, and other:    
Fixed maturities 5,766.8 4,236.7
Fixed maturities 79.0 22.8
Net (purchases) sales of short-term investments (2,844.1) 356.8
Net unsettled security transactions 457.3 280.6
Purchases of property and equipment (176.4) (281.2)
Sales of property and equipment 13.5 39.9
Net cash used in investing activities (4,651.5) (3,453.0)
Cash Flows From Financing Activities    
Dividends paid to common shareholders (1,492.4) (1,584.7)
Dividends paid to preferred shareholders (26.8) (26.8)
Acquisition of treasury shares for restricted stock tax liabilities (67.0) (81.2)
Payments for Repurchase of Common Stock in the Open Market (7.5) (6.9)
Acquisition of additional shares of ARX Holding Corp. 243.0 11.2
Net proceeds from debt issuances 986.3 0.0
Proceeds from exercise of equity options 7.3 1.6
Net cash used in financing activities (843.1) (1,709.2)
Decrease in cash, cash equivalents, and restricted cash (136.3) (28.8)
Cash, cash equivalents, and restricted cash – January 1 227.4 75.0
Cash, cash equivalents, and restricted cash – September 30 $ 91.1 $ 46.2