XML 18 R8.htm IDEA: XBRL DOCUMENT v3.5.0.2
Consolidated Statements Of Cash Flows - USD ($)
 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Operating Activities    
Net income $ 14,463,675 $ 10,342,119
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 994,619 654,838
Amortization, net 624,882 542,841
Amortization related to postretirement benefits obligation 6,705 5,928
Share-based compensation expense related to stock options 99,755 102,707
Net gain on disposals of property (10,677) (30,374)
Net realized gain on investments (574,328) (601,336)
Net earnings from other investments (1,120,640) (1,774,927)
(Benefit) provision for claims (403,982) 3,621,401
Provision for deferred income taxes 4,040,000 1,909,000
Changes in assets and liabilities:    
Increase in receivables (965,873) (457,484)
Decrease (increase) in other assets 1,265,172 (1,110,322)
Increase in current income taxes recoverable (1,261,289) 0
(Decrease) increase in accounts payable and accrued liabilities (337,935) 1,150,634
(Decrease) increase in current income taxes payable (210,355) 156,487
Payments of claims, net of recoveries (1,848,018) (2,401,401)
Net cash provided by operating activities 14,761,711 12,110,111
Investing Activities    
Purchases of available-for-sale securities (15,066,182) (5,794,149)
Purchases of short-term investments (1,890,826) (11,642,357)
Purchases of other investments (1,974,275) (3,164,415)
Payments to Acquire Additional Interest in Subsidiaries (9,142) 0
Proceeds from sales and maturities of available-for-sale securities 10,711,195 16,212,924
Proceeds from sales and maturities of short-term investments 4,830,935 335,084
Proceeds from sales and distributions of other investments 2,594,042 3,167,494
Payments to Acquire Businesses, Gross 0 (72,600)
Proceeds from sales of other assets 10,647 113,238
Purchases of property (1,742,225) (2,313,052)
Proceeds from the sale of property 64,155 74,395
Net cash used in investing activities (2,471,676) (3,083,438)
Financing Activities    
Repurchases of common stock (6,219,670) (5,166,846)
Exercises of stock options and SARs (200) 54,988
Excess tax benefits related to exercise of stock options and SARs 32,292 26,875
Dividends paid (993,534) (477,392)
Net cash used in financing activities (7,181,112) (5,562,375)
Net Increase in Cash and Cash Equivalents 5,108,923 3,464,298
Cash and Cash Equivalents, Beginning of Period 21,790,068 15,826,515
Cash and Cash Equivalents, End of Period 26,898,991 19,290,813
Cash Paid During the Year for:    
Income tax payments, net 3,736,100 2,727,700
Non cash net unrealized (gain) loss on investments, net of deferred tax (provision) benefit of $(1,004,593) and $1,691,188 for 2016 and 2015, respectively $ (1,962,117) $ 3,253,970