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AMTRUST FINANCIAL SERVICES CONDENSED FINANCIAL INFORMATION OF REGISTRANT | 12 Months Ended
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Dec. 31, 2011
AMTRUST FINANCIAL SERVICES CONDENSED FINANCIAL INFORMATION OF REGISTRANT | Schedule II # AMTRUST FINANCIAL SERVICES CONDENSED FINANCIAL INFORMATION OF REGISTRANT BALANCE SHEET — PARENT COMPANY ONLY
|  | December 31,
|  | 2011 |  | 2010
|  | (In Thousands)
Assets: |  |  |  |  |  |  |  |
Cash |  | $ | — |  |  | $ | — |
Invested assets |  |  | 9 |  |  |  | 5,009 |
Carrying value of subsidiaries, at equity |  |  | 1,107,857 |  |  |  | 912,027 |
Other assets |  |  | 142,090 |  |  |  | 113,844 |
Total Assets |  |  | 1,249,956 |  |  |  | 1,030,880 |
Liabilities: |  |  |  |  |  |  |  |
Due to affiliates – net |  |  | 42,654 |  |  |  | 150,202 |
Notes payable |  |  | 7,362 |  |  |  | 21,066 |
Convertible senior notes |  |  | 138,506 |  |  |  | — |
Junior subordinated debt |  |  | 123,714 |  |  |  | 123,714 |
Other liabilities |  |  | 47,157 |  |  |  | 19,384 |
Total Liabilities |  |  | 359,393 |  |  |  | 314,366 |
Stockholders’ Equity |  |  |  |  |  |  |  |
Common stock |  |  | 849 |  |  |  | 844 |
Paid-in and contributed capital |  |  | 582,321 |  |  |  | 548,731 |
Treasury shares |  |  | (300,365 | ) |  |  | (300,489 | )
Accumulated other comprehensive income |  |  | (9,999 | ) |  |  | (266 | )
Retained earnings |  |  | 617,757 |  |  |  | 467,694 |
Total Shareholders’ Equity |  |  | 890,563 |  |  |  | 716,514 |
Total Liabilities and Shareholders’ Equity |  | $ | 1,249,956 |  |  | $ | 1,030,880 |
# STATEMENT OF INCOME — PARENT COMPANY ONLY
|  | Year Ended December 31,
|  | 2011 |  | 2010 |  | 2009
|  | (In Thousands)
Income: |  |  |  |  |  |  |  |  |  |  |  |
Investment income |  | $ | 294 |  |  | $ | 2,900 |  |  | $ | 4,154 |
Equity in undistributed net income of consolidated subsidiaries and partially-owned companies |  |  | 212,926 |  |  |  | 162,202 |  |  |  | 117,473 |
Miscellaneous income (expense) |  |  | 63 |  |  |  | 120 |  |  |  | 661 |
Total Income |  |  | 213,283 |  |  |  | 165,222 |  |  |  | 122,288 |
Expenses: |  |  |  |  |  |  |  |  |  |  |  |
Interest expense |  |  | 3,861 |  |  |  | 1,725 |  |  |  | 3,422 |
Federal tax expense |  |  | — |  |  |  | 4,746 |  |  |  | 5,547 |
Other expenses from operations |  |  | 15,269 |  |  |  | 10,359 |  |  |  | 10,096 |
Total Expenses |  |  | 19,130 |  |  |  | 16,830 |  |  |  | 19,065 |
Net Income |  | $ | 194,153 |  |  | $ | 148,392 |  |  | $ | 103,223 |
Schedule II # AMTRUST FINANCIAL SERVICES CONDENSED FINANCIAL INFORMATION OF REGISTRANT STATEMENT OF CASH FLOWS — PARENT COMPANY ONLY
|  | December 31,
|  | 2011 |  | 2010 |  | 2009
|  | (In Thousands)
Cash flows from operating activities: |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 194,153 |  |  | $ | 146,340 |  |  | $ | 103,223 |
Depreciation and amortization |  |  | 948 |  |  |  | 1,197 |  |  |  | 1,104 |
Stock option compensation |  |  | 5,571 |  |  |  | 3,386 |  |  |  | 4,241 |
Discount on note |  |  | 462 |  |  |  | 771 |  |  |  | 1,067 |
Adjustments to reconcile net income to net cash changes in assets (increase) decrease: |  |  |  |  |  |  |  |  |  |  |  |
Carrying value of equity interest in subsidiaries |  |  | (221,166 | ) |  |  | (71,492 | ) |  |  | (117,224 | )
Equity (earnings) losses and gain on investments in unconsolidated subsidiaries |  |  | (7,871 | ) |  |  | (24,044 | ) |  |  | 822 |
Other assets |  |  | (28,246 | ) |  |  | 20,589 |  |  |  | (5,300 | )
Changes in liabilities increase (decrease): |  |  |  |  |  |  |  |  |  |  |  |
Due to affiliates |  |  | (107,548 | ) |  |  | 13,536 |  |  |  | 58,994 |
Other liabilities |  |  | 27,772 |  |  |  | 8,449 |  |  |  | (2,476 | )
Net cash provided by (used in) operating activities |  |  | (135,925 | ) |  |  | 98,732 |  |  |  | 44,451 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |  |  |  |
Capital expenditures |  |  | (20 | ) |  |  | (299 | ) |  |  | (36 | )
Investment in subsidiary |  |  | (4,027 | ) |  |  | — |  |  |  | — |
Investment in unconsolidated subsidiary |  |  | — |  |  |  | (53,055 | ) |  |  | — |
Acquisition of intangible assets |  |  | — |  |  |  | — |  |  |  | (7,610 | )
Acquisition of subsidiary companies, net of cash acquired |  |  | — |  |  |  | (11,295 | ) |  |  | — |
Net cash used in investing activities |  |  | (4,047 | ) |  |  | (64,649 | ) |  |  | (7,646 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |  |  |  |
Issuance of debt |  |  | 298,200 |  |  |  | — |  |  |  | — |
Payment of debt |  |  | (137,367 | ) |  |  | (20,833 | ) |  |  | (20,833 | )
Financing fees |  |  | (6,574 | ) |  |  | — |  |  |  | — |
Net, issuance (repurchase) of common stock |  |  | 5,425 |  |  |  | 1,770 |  |  |  | (5,771 | )
Dividends paid |  |  | (19,712 | ) |  |  | (16,647 | ) |  |  | (13,088 | )
Net cash (used in) provided by financing activities |  |  | 139,972 |  |  |  | (35,710 | ) |  |  | (39,692 | )
Net decrease in cash and cash equivalents |  |  | — |  |  |  | (1,627 | ) |  |  | (2,887 | )
Cash and cash equivalents, beginning of the year |  |  | — |  |  |  | 1,627 |  |  |  | 4,514 |
Cash and cash equivalents, end of period |  | $ | — |  |  | $ | — |  |  | $ | 1,627

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Article 9 -Section 06 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Article 7 -Section 05 -Paragraph c Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph c -Article 5 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04) -URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e24072-122690 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 24 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Article 12 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=6921628&loc=d3e5283-111683 + Details
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