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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
OPERATING ACTIVITIES:      
Net earnings $ 210,341 $ 227,236 $ 223,822
Adjustments to reconcile net earnings to cash flows provided by (used in) operating activities:      
Realized gains on sale of investments (15,910) (23,939) (13,979)
Unrealized losses (gains) on investments 57,162 (38,680) (56,672)
Other non-cash items 3,984 (1,268) 11,276
Depreciation and other amortization 55,159 60,771 52,560
Net change in trading securities held on behalf of policyholders (7,241) 4,256 3,485
Sales and maturities of trading securities 3,913,094 2,974,318 2,679,826
Purchases of trading securities (4,263,912) (2,087,611) (2,713,581)
Changes in:      
Reinsurance balances recoverable 402,575 434,605 430,542
Funds held by reinsured companies 34,589 113,771 175,750
Losses and loss adjustment expenses (1,020,404) (967,263) (706,880)
Policy benefits for life and annuity contracts (24,438) (52,236) 6,443
Insurance and reinsurance balances payable (21,485) (187,178) (165,896)
Unearned premiums (20,048) 4,998 (81,967)
Other operating assets and liabilities (42,824) 35,839 92,884
Net cash flows provided by (used in) operating activities (739,358) 497,619 (62,387)
INVESTING ACTIVITIES:      
Acquisitions, net of cash acquired 109,848 37,540 (409,560)
Sales and maturities of available-for-sale securities 142,824 110,180 196,507
Purchase of held-to-maturity securities 0 0 (112)
Purchase of available-for-sale securities (102,214) (117,624) (15,739)
Maturities of held-to-maturity securities 11,558 36,680 18,449
Movement in restricted cash and cash equivalents 512,767 (114,538) (78,638)
Purchase of other investments (355,184) (349,652) (107,396)
Redemption of other investments 168,988 104,684 28,568
Other investing activities (1,520) 632 2,132
Net cash flows provided by (used in) investing activities 487,067 (292,098) (365,789)
FINANCING ACTIVITIES:      
Distribution of capital to noncontrolling interest 0 (11,864) 0
Contribution by noncontrolling interest 680 17,768 0
Contribution by redeemable noncontrolling interest 15,728 273,035 96,689
Dividends paid to noncontrolling interest (16,861) (18,108) (3,908)
Purchase of noncontrolling interest (150,400) 0 0
Receipt of loans 657,700 70,000 369,800
Repayment of loans (377,500) (199,245) (39,505)
Net cash flows provided by financing activities 129,347 131,586 423,076
EFFECT OF EXCHANGE RATE CHANGES ON FOREIGN CURRENCY CASH AND CASH EQUIVALENTS (18,533) (17,546) (5,949)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (141,477) 319,561 (11,049)
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 963,402 643,841 654,890
CASH AND CASH EQUIVALENTS, END OF YEAR 821,925 963,402 643,841
Supplemental Cash Flow Information:      
Income taxes paid, net of refunds 33,305 41,830 32,115
Interest paid $ 19,395 $ 16,130 $ 9,114