XML 18 R8.htm IDEA: XBRL DOCUMENT v3.25.3
Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Operating Activities    
Net income $ 27,663 $ 22,711
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 2,755 2,491
Accretion of investments, net (1,126) (3,070)
Amortization of other intangible assets, net 561 900
Share-based compensation expense related to stock appreciation rights 399 296
Net gains on disposals of property (10) (230)
Net investment gains (2,982) (4,640)
Net gains on sale of other assets (2,768) 0
Net earnings from other investments (1,660) (1,326)
Provision for claims 3,612 3,483
Provision (benefit) for deferred income taxes 2,328 (45)
Changes in assets and liabilities:    
Increase in premium and fees receivable (471) (890)
Decrease in other assets 2,645 340
(Increase) decrease in lease assets (1,212) 420
(Increase) decrease in current income taxes recoverable (1,211) 384
(Decrease) increase in accounts payable and accrued liabilities (1,105) 809
Increase (decrease) in lease liabilities 1,268 (361)
Decrease in current income taxes payable (276) 0
Payments of claims, net of recoveries (2,467) (3,581)
Net cash provided by operating activities 25,943 17,691
Investing Activities    
Purchases of fixed maturity securities (40,977) (47,296)
Purchases of equity securities (10,363) (6,979)
Purchases of short-term investments (82,144) (97,963)
Purchases of other investments (3,770) (5,628)
Purchases of other assets (4,536) 0
Proceeds from sales and maturities of fixed maturity securities 44,485 9,200
Proceeds from sales of equity securities 14,038 11,238
Proceeds from sales and maturities of short-term investments 53,590 124,494
Proceeds from sales and distributions of other investments and assets 8,205 6,201
Purchases of property (4,232) (6,075)
Proceeds from sales of property 470 247
Net cash used in investing activities (25,234) (12,561)
Financing Activities    
Repurchases of common stock 0 (1,098)
Exercise of stock appreciation rights 0 1
Dividends paid (2,604) (2,600)
Net cash used in financing activities (2,604) (3,697)
Net (Decrease) Increase in Cash and Cash Equivalents (1,895) 1,433
Cash and Cash Equivalents, Beginning of Period 24,654 24,031
Cash and Cash Equivalents, End of Period 22,759 25,464
Cash Paid During the Year for:    
Income tax payments, net 6,371 5,644
Non-cash net unrealized gain on investments, net of deferred tax expense of $(200) and $(125) for September 30, 2025 and 2024, respectively (734) (450)
Adjustments to postretirement benefits obligation, net of deferred tax expense of $(12) and $0 for September 30, 2025 and 2024, respectively $ (47) $ 0