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Consolidated Statements of Cashflow (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Operating Activities      
Net income $ 19,865 $ 65,541 $ 36,398
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 34,645 31,770 28,593
Loss on disposal of discontinued operations 650 3,780 1,174
Stock-based compensation expense 7,422 8,017 11,256
Undistributed (income) loss of equity method investments (323) (8,712) 21,726
Net realized (gains) losses (2,240) 7,083 45,970
Postretirement life curtailment benefit 0 0 (4,217)
Unrealized gain on trading securities 0 0 (262)
Goodwill impairment on discontinued operations 0 0 12,214
Changes in assets and liabilities:      
Increase in reserves for losses and loss expenses, net of reinsurance recoverables 56,905 41,526 60,619
Increase (decrease) in unearned premiums, net of prepaid reinsurance and advance premiums 46,334 (26,661) (8,028)
(Increase) decrease in net federal income taxes (1,403) 15,809 (3,718)
(Increase) decrease in premiums receivable (45,116) 32,472 34,317
(Increase) decrease in deferred policy acquisition costs (4,442) 8,974 (6,282)
Decrease (increase) in interest and dividends due or accrued 633 (2,361) 1,918
Increase (decrease) in accrued salaries and benefits 1,521 (14,913) (15,240)
(Decrease) increase in accrued insurance expenses (636) (4,470) 2,240
Sale of trading securities 0 0 2,831
Other-net 9,142 1,330 6,050
Net adjustments 103,092 93,644 191,161
Net cash provided by operating activities 122,957 159,185 227,559
Investing Activities      
Purchase of fixed maturity securities, held-to-maturity 0 0 (158,827)
Purchase of fixed maturity securities, available-for-sale (487,813) (1,007,679) (1,041,277)
Purchase of equity securities, available-for-sale (150,551) (71,192) (79,455)
Purchase of other investments (16,033) (20,673) (16,298)
Purchase of short-term investments (1,448,782) (1,741,738) (1,956,164)
Purchase of subsidiary, net of cash acquired (51,728) 0 0
Sale of subsidiary 1,152 978 (12,538)
Sale of fixed maturity securities, held-to-maturity 0 0 5,820
Sale of fixed maturity securities, available-for-sale 146,435 190,438 538,769
Sale of short-term investments 1,433,441 1,794,434 1,940,427
Redemption and maturities of fixed maturity securities, held-to-maturity 177,350 319,835 282,310
Redemption and maturities of fixed maturity securities, available-for-sale 162,796 298,171 122,403
Sale of equity securities, available-for-sale 60,071 98,015 137,244
Distributions from other investments 25,622 22,406 25,596
Sale of other investments 16,357 0 0
Purchase of property, equipment, and other assets (11,824) (6,522) (8,207)
Net cash used in investing activities (143,507) (123,527) (220,197)
Financing Activities      
Dividends to stockholders (26,513) (26,056) (26,296)
Acquisition of treasury stock (2,741) (1,686) (3,010)
Principal payment of notes payable 0 (12,300) (12,300)
Proceeds from borrowings 45,000 0 13,000
Net proceeds from stock purchase and compensation plans 5,011 4,962 4,612
Excess tax benefits from share-based payment arrangements (90) (744) (1,200)
Net cash provided by (used in) financing activities 20,667 (35,824) (25,194)
Net increase (decrease) in cash and cash equivalents 117 (166) (17,832)
Net decrease in cash and cash equivalents from discontinued operations 0 0 (15,037)
Net increase (decrease) in cash from continuing operations 117 (166) (2,795)
Cash from continuing operations, beginning of year 645 811 3,606
Cash from continuing operations, end of period $ 762 $ 645 $ 811