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v3.23.3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) $ in Thousands | 3 Months Ended | 9 Months Ended
--- | --- | ---
Sep. 30, 2023 USD ($) | Sep. 30, 2023 USD ($) | Sep. 30, 2022 USD ($)
Cash flows from operating activities: |  |  |  |  |
Net cash provided by (used in) operating activities |  |  | $ 70,631 |  | $ 223,157
Cash flows from investing activities: |  |  |  |  |
Proceeds from sale of property and equipment |  |  | 34 |  | 65
Purchases of property and equipment |  |  | (2,869) |  | (4,388)
Purchases of equity securities |  |  | (32,558) |  | (67,733)
Purchases of available-for-sale debt securities |  |  | (103,560) |  | (178,788)
Proceeds from sales of equity securities | $ 5,597 |  | 42,830 |  | 26,667
Proceeds from sales of available-for-sale debt securities |  |  | 3,985 |  | 24,855
Maturities of available-for-sale debt securities |  |  | 77,676 |  | 59,291
Net cash provided by (used in) investing activities |  |  | (14,462) |  | (140,031)
Cash flows from financing activities: |  |  |  |  |
Debt issuance costs paid |  |  | 0 |  | (131)
Preferred stock dividend |  |  | (8) |  | (8)
Common stock dividend |  |  | (14,679) |  | (14,880)
Purchase of treasury stock |  |  | (18,385) |  | (9,800)
Payments related to tax withholding for share-based compensation |  |  | (314) |  | (209)
Repayment of debt |  |  | (1,104) |  | (1,103)
Net cash provided by (used in) financing activities |  |  | (34,490) |  | (26,131)
Cash and cash equivalents and restricted cash and cash equivalents: |  |  |  |  |
Net increase (decrease) during the period |  |  | 21,679 |  | 56,995
Balance, beginning of period |  |  | 391,341 |  | 253,143
Balance, end of period | 413,020 |  | 413,020 |  | 310,138
Cash and cash equivalents, and restricted cash and cash equivalents within the Consolidated Balance Sheets |  |  |  |  |
Cash and cash equivalents | 343,532 |  | 343,532 |  |
Restricted cash and cash equivalents | 69,488 | [1] | 69,488 | [1] |
Total cash and cash equivalents and restricted cash and cash equivalents | $ 413,020 |  | $ 413,020 |  | $ 310,138
[1] | See “—Note 5 (Insurance Operations)” for a discussion of the nature of the restrictions for restricted cash and cash equivalents and "—Note 14(Variable Interest Entities)” for a discussion of restricted cash held in a trust account.

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- Definition Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(1)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483467/210-10-45-1 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482740/230-10-45-4 + Details
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