XML 35 R8.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements Of Cash Flows (USD $)
 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Operating Activities    
Net income $ 6,978,049 $ 12,953,991
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation 583,979 444,689
Amortization, net 458,635 378,947
Amortization related to postretirement benefits obligation 1,663 3,581
Share-based compensation expense related to stock options 88,291 62,108
Gain (Loss) on Disposition of Property Plant Equipment 6,487 778
Net realized gain on investments (592,908) (333,554)
Net earnings from other investments (990,657) (1,050,854)
Provision (benefit) for claims 4,177,478 (2,429,289)
Provision for deferred income taxes 1,468,000 3,833,000
Changes in assets and liabilities:    
Decrease in receivables 261,128 1,278,965
Increase in other assets (1,407,762) (2,771,634)
Increase in current income taxes recoverable (1,257,252) (1,708,257)
(Decrease) increase in accounts payable and accrued liabilities (1,640,499) 5,853,711
Decrease in current income taxes payable 0 (1,336,824)
Payments of claims, net of recoveries (3,285,478) (1,832,711)
Net cash provided by operating activities 4,849,154 13,346,647
Investing Activities    
Purchases of available-for-sale securities (13,572,217) (14,833,885)
Purchases of short-term investments (2,923,269) (4,886,789)
Purchases of other investments (1,036,110) (1,330,327)
Proceeds from sales and maturities of available-for-sale securities 10,321,679 7,321,758
Proceeds from sales and maturities of short-term investments 4,694,893 3,065,790
Proceeds from sales and distributions of other investments 1,050,427 1,761,362
Proceeds from sales of other assets 26,233 22,808
Payments to Acquire Additional Interest in Subsidiaries (515,275) 0
Purchases of property (1,649,412) (1,063,985)
Proceeds from Sale of Property, Plant, and Equipment 15,400 17,335
Net cash used in investing activities (3,587,651) (9,925,933)
Financing Activities    
Repurchases of common stock (652,657) (1,881,323)
Exercises of stock options and SARs 27,100 75,797
Payments of Ordinary Dividends, Noncontrolling Interest (168,057) 0
Excess Tax Benefit from Share-based Compensation, Financing Activities 15,999 938,090
Dividends paid (488,127) (494,903)
Net cash used in financing activities (1,265,742) (1,362,339)
Net (Decrease) Increase in Cash and Cash Equivalents (4,239) 2,058,375
Cash and Cash Equivalents, Beginning of Period 23,626,761 20,810,018
Cash and Cash Equivalents, End of Period 23,622,522 22,868,393
Cash Paid During the Year for:    
Income tax payments, net 2,443,000 4,243,300
Non cash net unrealized gain on investments, net of deferred tax provision of $(410,923) and $(532,399) for 2014 and 2013, respectively $ (772,074) $ (998,638)