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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash Flows From Operating Activities    
Net income (loss) $ 10,767 $ (55,688)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities    
Net accretion of bond premium 3,061 3,491
Depreciation and amortization 5,820 5,182
Stock-based compensation expense 2,711 2,175
Net investment (gains) losses 2,672 312
Net cash flows from equity and trading investments 56,381 39,553
Deferred income tax expense (benefit) (9,729) (6,433)
Changes in:    
Accrued investment income (609) (258)
Premiums receivable (119,730) (97,957)
Deferred policy acquisition costs (17,512) (18,424)
Reinsurance receivables (20,719) (23,913)
Prepaid reinsurance premiums (5,217) (1,670)
Income taxes receivable 1,863 (11,432)
Other assets 12,121 (248)
Losses and loss settlement expenses 116,984 117,558
Unearned premiums 84,264 63,249
Accrued expenses and other liabilities 1,996 16,997
Other, net 2,368 5,370
Net cash provided by (used in) operating activities 127,492 37,864
Cash Flows From Investing Activities    
Proceeds from sale of available-for-sale investments 233,999 43,809
Proceeds from call and maturity of available-for-sale investments 67,124 28,036
Proceeds from sale of other investments 6,097 2,111
Purchase of investments in mortgage loans 0 (8,137)
Purchase of investments available-for-sale (432,768) (94,204)
Purchase of other investments (3,216) (12,511)
Net purchases and sales of property and equipment (5,840) (5,617)
Net cash provided by (used in) investing activities (134,604) (46,513)
Cash Flows From Financing Activities    
Debt Note Issuance 66,965 0
Issuance of common stock (370) (218)
Payment of cash dividends (8,099) (8,079)
Net cash provided by (used in) financing activities 58,496 (8,297)
Net Change in Cash and Cash Equivalents 51,384 (16,946)
Cash and Cash Equivalents at Beginning of Period 102,046 96,650
Cash and Cash Equivalents at End of Period 153,430 79,704
Supplemental Disclosures of Cash Flow Information    
Income taxes paid 9,612 1,324
Interest paid $ 2,319 $ 1,594