XML 15 R8.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements Of Cash Flows (USD $)
 3 Months Ended
Mar. 31, 2012
Mar. 31, 2011
Operating Activities    
Net income $ 1,432,139 $ 1,019,207
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 113,752 126,178
Amortization, net 101,242 81,973
Amortization related to postretirement benefits obligation 2,519 5,740
Share-based compensation expense related to stock options 17,690 52,320
Increase (decrease) in allowance for doubtful accounts on premiums receivable 209,000 (181,000)
Net gain on disposals of property (6,309)  
Net realized (gain) loss on investments (192,881) 26,160
Net earnings from other investments (335,664) (67,482)
Provision for claims 1,631,359 721,626
Provision for deferred income taxes 339,000 592,000
Changes in assets and liabilities:    
(Increase) decrease in receivables (542,066) 2,108,642
Decrease in other assets 175,361 397,136
Increase in current income taxes recoverable   (378,256)
Decrease in accounts payable and accrued liabilities (1,816,646) (642,003)
Decrease in current income taxes payable (492,271) (1,056,356)
Payments of claims, net of recoveries (1,342,359) (1,198,326)
Net cash (used in) provided by operating activities (706,134) 1,607,559
Investing Activities    
Purchases of available-for-sale securities (7,207,882) (3,065,044)
Purchases of short-term securities (2,226,674) (679,407)
Purchases of other investments (1,917,500) (5,681)
Proceeds from sales and maturities of available-for-sale securities 3,093,116 2,565,443
Proceeds from sales and maturities of short-term securities 7,767,468 6,987,035
Proceeds from sales and distributions of other investments 256,014 210,377
Purchases of property (32,537) (59,689)
Proceeds from disposals of property 9,000  
Net cash (used in) provided by investing activities (258,995) 5,953,034
Financing Activities    
Repurchases of common stock (509,711) (3,929,009)
Exercise of options 45,062 3,750
Dividends paid (147,097) (152,830)
Net cash used in financing activities (611,746) (4,078,089)
Net (Decrease) Increase in Cash and Cash Equivalents (1,576,875) 3,482,504
Cash and Cash Equivalents, Beginning of Period 18,042,258 8,117,031
Cash and Cash Equivalents, End of Period 16,465,383 11,599,535
Supplemental Disclosures:    
Income Taxes, payments, net 667,000 1,170,000
Non cash net unrealized gain on investments, net of deferred tax provision of $(625,887) and $(240,517) for 2012 and 2011, respectively $ (1,177,658) $ (465,847)