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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Dec. 31, 2024
Cash flows from operating activities:      
Net income $ 165,778 $ 160,988  
Adjustments to reconcile net income to net cash provided by operating activities:      
Net investment (gains) losses 3,243 6,684  
Amortization of fixed maturity securities discounts and premiums (3,411) (2,437)  
Amortization of deferred acquisition costs and intangibles 2,429 2,259  
Acquisition costs deferred (1,242) (1,399)  
Deferred income taxes 4,492 1,032  
Stock-based compensation expense 3,872 3,937  
Amortization of debt issuance costs 349 674  
Gain (Loss) on Extinguishment of Debt     $ 10,900
Change in certain assets and liabilities:      
Accrued investment income (59) (1,891)  
Premiums receivable 6,580 1,143  
Other assets (904) 447  
Loss reserves 17,813 13,252  
Unearned premiums (7,161) (10,444)  
Other liabilities 34,945 13,051  
Net cash provided by operating activities 226,724 187,296  
Cash flows from investing activities:      
Purchases of fixed maturity securities available-for-sale (505,026) (409,240)  
Purchases of limited partnerships and equity interests 500 5,512  
Proceeds from sales of fixed maturity securities available-for-sale 142,643 190,227  
Proceeds from maturities of fixed maturity securities available-for-sale 276,497 104,412  
Net change in short-term investments (322) 10,254  
Other (2,867) (3,609)  
Net cash used in investing activities (89,575) (113,468)  
Cash flows from financing activities:      
Repurchase of common stock (65,283) (49,724)  
Dividends paid (28,088) (25,457)  
Proceeds from (Payments for) Other Financing Activities (7,941) 0  
Net cash used in financing activities (101,312) (75,181)  
Net increase (decrease) in cash and cash equivalents 35,837 (1,353)  
Cash and cash equivalents at beginning of period 599,432 615,683 615,683
Cash and cash equivalents at end of period $ 635,269 $ 614,330 $ 599,432