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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Cash flows from operating activities:    
Net income $ 13,549 $ 11,959
Adjustments to reconcile net income to net cash provided by operating activities:    
Bad debt expense 71 124
Depreciation 280 249
Amortization of share-based compensation 1,685 1,168
Amortization of original issue discount on debt 250  
Accretion of deferred credit (250)  
Book overdraft increase (decrease) (11,962) 1,075
Net realized (gains) losses on investments (902) 16,037
Net change in unrealized (gains) losses on investments   (7,874)
Amortization of premium/accretion of discount, net 499 42
Deferred income taxes 509 3,856
Excess tax (benefits) shortfall from share-based compensation (6,342) 151
Other (12)  
Net change in assets and liabilities relating to operating activities:    
Restricted cash and cash equivalents (35) 30,356
Prepaid reinsurance premiums 5,188 (12,558)
Reinsurance recoverables 31,750 1,960
Reinsurance receivables, net (6,801) 19,854
Premiums receivable, net (1,715) (830)
Accrued investment income (32) 20
Other receivables (636) (273)
Income taxes recoverable 1,953 616
Deferred policy acquisition costs, net 6 (95)
Purchase of trading securities   (26,009)
Proceeds from sales of trading securities   80,670
Other assets 350 73
Unpaid losses and loss adjustment expenses (8,665) (10,712)
Unearned premiums 1,273 9,971
Accounts payable 1,058 (52)
Reinsurance payable, net 7,422 19,621
Income taxes payable 4,691 (850)
Other liabilities and accrued expenses (5,779) (3,259)
Advance premium 2,454 12,187
Net cash provided by (used in) operating activities 29,857 147,477
Cash flows from investing activities:    
Proceeds from sale of property and equipment 17  
Purchase of property and equipment (751) (409)
Purchases of available for sale equity securities (4,782)  
Purchases of available for sale fixed maturities (20,475) (9,988)
Proceeds from sales of available for sale equity securities 10,071  
Proceeds from sales of available for sale fixed maturities 4,370  
Maturities of available for sale fixed maturities 7,528  
Net cash provided by (used in) investing activities (4,022) (10,397)
Cash flows from financing activities:    
Preferred stock dividend (5) (5)
Common stock dividend (3,463)  
Purchase of treasury stock (14,737)  
Payments related to tax withholding for share-based compensation (8,108) (1,072)
Excess tax benefits (shortfall) from share-based compensation 6,342 (151)
Repayment of debt (368) (368)
Net cash provided by (used in) financing activities (20,339) (1,596)
Net increase (decrease) in cash and cash equivalents 5,496 135,484
Cash and cash equivalents at beginning of period 117,275 347,392
Cash and cash equivalents at end of period 122,771 482,876
Supplemental cash flow and non-cash disclosures:    
Interest paid 433 87
Income taxes paid 2,404 4,313
Non-cash transfer of investments from trading to available for sale portfolio   $ 4,004