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Consolidated Statements of Cashflow - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Operating Activities      
Net income $ 165,861 $ 141,827 $ 106,418
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 59,688 45,346 43,461
Sale of renewal rights 0 (8,000) 0
Loss on disposal of discontinued operations 0 0 997
Stock-based compensation expense 8,973 8,702 8,630
Undistributed losses (gains) of equity method investments 1,889 (153) 202
Net realized gains (13,171) (26,599) (20,732)
Net gain on disposal of property and equipment 0 (104) 0
Retirement income plan curtailment expense 0 0 16
Changes in assets and liabilities:      
Increase in reserves for losses and loss expenses, net of reinsurance recoverables 59,438 97,449 151,037
Increase in unearned premiums, net of prepaid reinsurance 79,995 32,671 74,086
Decrease in net federal income taxes 25,004 31,323 14,834
Increase in premiums receivable (56,386) (33,908) (40,482)
Increase in deferred policy acquisition costs (27,551) (12,627) (17,458)
Decrease (increase) in interest and dividends due or accrued 407 (1,536) (1,372)
Increase (decrease) in accrued salaries and benefits 11,392 (7,182) 18,685
Increase (decrease) in accrued insurance expenses 23,342 (956) 14,444
Increase (decrease) in other assets and other liabilities 42,699 (33,490) (16,642)
Net adjustments 215,719 90,936 229,706
Net cash provided by operating activities 381,580 232,763 336,124
Investing Activities      
Purchase of fixed income securities, held-to-maturity (3,316) 0 0
Purchase of fixed income securities, available-for-sale (1,041,916) (843,616) (1,069,387)
Purchase of equity securities, available-for-sale (195,720) (186,019) (118,072)
Purchase of other investments (12,170) (10,617) (9,332)
Purchase of short-term investments (1,602,327) (1,410,123) (2,056,576)
Sale of subsidiary 0 0 1,225
Sale of fixed income securities, available-for-sale 61,571 51,002 20,126
Sale of short-term investments 1,539,480 1,452,402 2,096,805
Redemption and maturities of fixed income securities, held-to-maturity 106,621 73,415 116,584
Redemption and maturities of fixed income securities, available-for-sale 567,445 482,816 513,804
Sale of equity securities, available-for-sale 172,561 208,008 115,782
Distributions from other investments 32,457 20,774 12,039
Purchase of property and equipment (16,229) (15,510) (14,023)
Sale of renewal rights 0 8,000 0
Net cash used in investing activities (391,543) (169,468) (391,025)
Financing Activities      
Dividends to stockholders (31,052) (28,428) (27,416)
Acquisition of treasury stock (4,182) (3,563) (3,716)
Net proceeds from stock purchase and compensation plans 10,089 7,283 7,119
Proceeds from issuance of notes payable, net of debt issuance costs 0 0 178,435
Proceeds from borrowings 15,000 0 0
Repayment of borrowings 0 13,000 0
Repayment of notes payable 0 0 (100,000)
Excess tax benefits from share-based payment arrangements 1,736 1,020 1,545
Repayment of capital lease obligations (4,689) (2,841) (1,083)
Net cash (used in) provided by financing activities (13,098) (39,529) 54,884
Net (decrease) increase in cash (23,061) 23,766 (17)
Cash, beginning of year 23,959 193 210
Cash, end of year $ 898 $ 23,959 $ 193