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Consolidated Statements Of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income $ 177,949us-gaap_NetIncomeLoss $ 112,143us-gaap_NetIncomeLoss $ 116,911us-gaap_NetIncomeLoss
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 28,054us-gaap_DepreciationAmortizationAndAccretionNet 30,587us-gaap_DepreciationAmortizationAndAccretionNet 36,974us-gaap_DepreciationAmortizationAndAccretionNet
Net realized investment (gains) losses (81,184)us-gaap_RealizedInvestmentGainsLosses 11,422us-gaap_RealizedInvestmentGainsLosses (66,380)us-gaap_RealizedInvestmentGainsLosses
Bond amortization, net 18,918us-gaap_AmortizationOfDebtDiscountPremium 12,529us-gaap_AmortizationOfDebtDiscountPremium 6,757us-gaap_AmortizationOfDebtDiscountPremium
Excess tax benefit from exercise of stock options (148)us-gaap_ExcessTaxBenefitFromShareBasedCompensationOperatingActivities (202)us-gaap_ExcessTaxBenefitFromShareBasedCompensationOperatingActivities (86)us-gaap_ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
Increase in premiums receivable (23,934)us-gaap_IncreaseDecreaseInPremiumsReceivable (20,688)us-gaap_IncreaseDecreaseInPremiumsReceivable (56,588)us-gaap_IncreaseDecreaseInPremiumsReceivable
Changes in current and deferred income taxes 8,343us-gaap_IncreaseDecreaseInDeferredIncomeTaxes 3,451us-gaap_IncreaseDecreaseInDeferredIncomeTaxes (83)us-gaap_IncreaseDecreaseInDeferredIncomeTaxes
Increase in deferred policy acquisition costs (2,736)us-gaap_IncreaseDecreaseInDeferredPolicyAcquisitionCosts (8,556)us-gaap_IncreaseDecreaseInDeferredPolicyAcquisitionCosts (14,480)us-gaap_IncreaseDecreaseInDeferredPolicyAcquisitionCosts
Increase in unpaid losses and loss adjustment expenses 52,813us-gaap_IncreaseDecreaseInLossAndLossAdjustmentExpenseReserve 2,861us-gaap_IncreaseDecreaseInLossAndLossAdjustmentExpenseReserve 50,844us-gaap_IncreaseDecreaseInLossAndLossAdjustmentExpenseReserve
Increase in unearned premiums 46,271us-gaap_IncreaseDecreaseInUnearnedPremiums 33,098us-gaap_IncreaseDecreaseInUnearnedPremiums 77,002us-gaap_IncreaseDecreaseInUnearnedPremiums
Increase in accounts payable and accrued expenses 31,019us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities 30,367us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities 1,197us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
Share-based compensation (4,112)us-gaap_ShareBasedCompensation (974)us-gaap_ShareBasedCompensation (370)us-gaap_ShareBasedCompensation
(Decrease) increase in other payables (10,988)us-gaap_IncreaseDecreaseInOtherAccountsPayable 12,135us-gaap_IncreaseDecreaseInOtherAccountsPayable 2,545us-gaap_IncreaseDecreaseInOtherAccountsPayable
Other, net (1,954)us-gaap_IncreaseDecreaseInOtherOperatingLiabilities (10,317)us-gaap_IncreaseDecreaseInOtherOperatingLiabilities (6,181)us-gaap_IncreaseDecreaseInOtherOperatingLiabilities
Net cash provided by operating activities 246,535us-gaap_NetCashProvidedByUsedInOperatingActivities 209,804us-gaap_NetCashProvidedByUsedInOperatingActivities 148,062us-gaap_NetCashProvidedByUsedInOperatingActivities
CASH FLOWS FROM INVESTING ACTIVITIES      
Fixed maturity securities available-for-sale in nature: Purchases (542,494)us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesDebt (831,796)us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesDebt (590,562)us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesDebt
Fixed maturity securities available-for-sale in nature: Sales 209,680us-gaap_ProceedsFromSaleOfAvailableForSaleSecuritiesDebt 228,116us-gaap_ProceedsFromSaleOfAvailableForSaleSecuritiesDebt 139,860us-gaap_ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
Fixed maturity securities available-for-sale in nature: Calls or maturities 330,637us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities 343,628us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities 528,886us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
Equity securities available for sale in nature:      
Purchases (868,383)us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesEquity (596,883)us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesEquity (358,216)us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesEquity
Sales 745,058us-gaap_ProceedsFromSaleOfAvailableForSaleSecuritiesEquity 872,997us-gaap_ProceedsFromSaleOfAvailableForSaleSecuritiesEquity 277,272us-gaap_ProceedsFromSaleOfAvailableForSaleSecuritiesEquity
Calls 1,044mcy_ProceedsFromCallsOfAvailableForSaleSecurities 0mcy_ProceedsFromCallsOfAvailableForSaleSecurities 923mcy_ProceedsFromCallsOfAvailableForSaleSecurities
Changes in securities payable and receivable 9,294us-gaap_IncreaseDecreaseInBrokerDealerRelatedReceivablesPayablesNet 1,702us-gaap_IncreaseDecreaseInBrokerDealerRelatedReceivablesPayablesNet 1,919us-gaap_IncreaseDecreaseInBrokerDealerRelatedReceivablesPayablesNet
Net increase in short-term investments (56,530)us-gaap_PaymentsToAcquireShortTermInvestments (20,005)us-gaap_PaymentsToAcquireShortTermInvestments (58,949)us-gaap_PaymentsToAcquireShortTermInvestments
Purchase of fixed assets (26,037)us-gaap_PaymentsToAcquireProductiveAssets (18,671)us-gaap_PaymentsToAcquireProductiveAssets (15,177)us-gaap_PaymentsToAcquireProductiveAssets
Sale of fixed assets 224us-gaap_ProceedsFromSaleOfProductiveAssets 820us-gaap_ProceedsFromSaleOfProductiveAssets 2,044us-gaap_ProceedsFromSaleOfProductiveAssets
Other, net 3,472us-gaap_PaymentsForProceedsFromOtherInvestingActivities 1,741us-gaap_PaymentsForProceedsFromOtherInvestingActivities 2,255us-gaap_PaymentsForProceedsFromOtherInvestingActivities
Net cash used in investing activities (194,035)us-gaap_NetCashProvidedByUsedInInvestingActivities (18,351)us-gaap_NetCashProvidedByUsedInInvestingActivities (69,745)us-gaap_NetCashProvidedByUsedInInvestingActivities
CASH FLOWS FROM FINANCING ACTIVITIES      
Dividends paid to shareholders (135,496)us-gaap_PaymentsOfDividendsCommonStock (134,776)us-gaap_PaymentsOfDividendsCommonStock (134,105)us-gaap_PaymentsOfDividendsCommonStock
Excess tax benefit from exercise of stock options 148us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities 202us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities 86us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
Proceeds from stock options exercised 6,247us-gaap_ProceedsFromStockOptionsExercised 1,446us-gaap_ProceedsFromStockOptionsExercised 2,492us-gaap_ProceedsFromStockOptionsExercised
Proceeds from bank loan 100,000us-gaap_ProceedsFromBankDebt 50,000us-gaap_ProceedsFromBankDebt 0us-gaap_ProceedsFromBankDebt
Net cash used in financing activities (29,101)us-gaap_NetCashProvidedByUsedInFinancingActivities (83,128)us-gaap_NetCashProvidedByUsedInFinancingActivities (131,527)us-gaap_NetCashProvidedByUsedInFinancingActivities
Net increase (decrease) in cash 23,399us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease 108,325us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease (53,210)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Cash:      
Beginning of year 266,508us-gaap_Cash 158,183us-gaap_Cash 211,393us-gaap_Cash
End of year 289,907us-gaap_Cash 266,508us-gaap_Cash 158,183us-gaap_Cash
SUPPLEMENTAL CASH FLOW DISCLOSURE      
Interest paid 2,543us-gaap_InterestPaid 998us-gaap_InterestPaid 1,690us-gaap_InterestPaid
Income taxes paid $ 61,139us-gaap_IncomeTaxesPaid $ 16,503us-gaap_IncomeTaxesPaid $ 18,481us-gaap_IncomeTaxesPaid