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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating Activities:    
Net income (loss) attributable to common stockholders $ (960) $ 28,581
Net income (loss) attributable to non-controlling interests 94 2,059
Net income (loss) (866) 30,640
Adjustments to reconcile net income to net cash provided by (used in) operating activities    
Net realized and unrealized (gains) losses (17,204) (69,371)
Net (gain) loss on held for sale of business (1,752) 431
Non-cash compensation expense 6,170 1,065
Amortization/accretion of premiums and discounts 654 670
Depreciation and amortization expense 6,156 5,934
Non-cash lease expense 2,420 2,195
Deferred provision (benefit) for income taxes (54) 7,788
Amortization of deferred financing costs 407 394
Other 69 80
Changes in operating assets and liabilities:    
Mortgage loans originated for sale (972,051) (911,193)
Proceeds from the sale of mortgage loans originated for sale 1,141,727 956,609
(Increase) decrease in notes and accounts receivable (72,105) 24,507
(Increase) decrease in reinsurance receivables (69,116) 14,279
(Increase) decrease in deferred acquisition costs (35,379) (43,494)
(Increase) decrease in other assets 4,653 (4,101)
Increase (decrease) in unearned premiums 64,812 31,319
Increase (decrease) in policy liabilities and unpaid claims 62,174 17,885
Increase (decrease) in deferred revenue 25,453 25,397
Increase (decrease) in reinsurance payable 7,745 (23,329)
Increase (decrease) in other liabilities and accrued expenses (4,846) (40,375)
Net cash provided by (used in) operating activities 149,067 27,330
Investing Activities:    
Purchases of investments (333,311) (413,159)
Proceeds from sales and maturities of investments 322,923 372,015
Proceeds from the sale of real estate and other assets 583 0
Purchases of property, plant and equipment (535) (397)
Proceeds from the sale of businesses 0 125
Proceeds from notes receivable 17,098 14,762
Issuance of notes receivable (25,490) (15,710)
Net cash provided by (used in) investing activities (18,732) (42,364)
Financing Activities:    
Dividends paid (1,398) (1,326)
Cash received for the exercise of warrants 3,423 0
Net non-controlling interest (redemptions) contributions (1,566) 100
Payment of debt issuance costs (5) 0
Proceeds from borrowings and mortgage notes payable 1,020,790 955,306
Principal paydowns of borrowings and mortgage notes payable (1,145,947) (952,260)
Repurchases of common stock and other changes in additional paid-in capital 0 (2,450)
Net cash provided by (used in) financing activities (124,703) (630)
Net increase (decrease) in cash, cash equivalents and restricted cash 5,632 (15,664)
Cash, cash equivalents and restricted cash – beginning of period 195,086 195,275
Cash, cash equivalents and restricted cash – beginning of period - held for sale 9,360 4,879
Cash, cash equivalents and restricted cash – end of period 210,078 184,490
Less: Reclassification of cash to assets held for sale 12,549 7,317
Cash, cash equivalents and restricted cash – end of period 197,529 177,173
Supplemental Disclosure of Cash Flow Information:    
Right of use asset obtained in exchange for lease liability 5,830 1,413
Corporate loans and equity securities exchanged for trade receivables 19,846 0
Reconciliation of cash, cash equivalents and restricted cash    
Cash and cash equivalents 177,962  
Restricted cash 19,567  
Total cash, cash equivalents and restricted cash shown in the statements of cash flows $ 197,529 $ 177,173