XML 44 R6.htm IDEA: XBRL DOCUMENT v3.3.0.814
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Cash flows from operating activities:    
Net income $ 207,135 $ 153,477
Adjustments to reconcile net income to cash provided by operating activities:    
Provision for policy losses and other claims 363,550 337,739
Depreciation and amortization 63,389 63,879
Amortization of premiums and accretion of discounts on debt securities, net 21,702 17,984
Excess tax benefits from share-based compensation (8,496) (6,050)
Net realized investment losses (gains) 215 (23,261)
Share-based compensation 20,261 15,962
Equity in earnings of affiliates, net (7,710) (1,068)
Dividends from equity method investments 7,559 4,018
Changes in assets and liabilities excluding effects of acquisitions and noncash transactions:    
Claims paid, including assets acquired, net of recoveries (364,255) (353,048)
Net change in income tax accounts 56,784 55,372
Increase in accounts and accrued income receivable (32,194) (23,191)
Decrease in accounts payable and accrued liabilities (7,074) (74,407)
Increase in deferred revenue 12,049 6,780
Other, net 19,282 (8,015)
Cash provided by operating activities 352,197 166,171
Cash flows from investing activities:    
Net cash effect of acquisitions/dispositions (26,662) (162,910)
Net decrease in deposits with banks 2,471 2,888
Purchases of debt and equity securities (1,726,939) (1,203,474)
Proceeds from sales of debt and equity securities 443,276 627,174
Proceeds from maturities of debt securities 531,440 276,812
Net change in other investments 470 5,093
Net paydowns on loans receivable   20,002
Capital expenditures (91,964) (63,923)
Proceeds from sales of property and equipment 17,057 11,675
Cash used for investing activities (850,851) (486,663)
Cash flows from financing activities:    
Net change in deposits 288,495 606,373
Net proceeds from issuance of debt   300,503
Repayment of debt (4,087) (161,878)
Net activity related to noncontrolling interests (705) (658)
Excess tax benefits from share-based compensation 8,496 6,050
Net (payments) proceeds in connection with share-based compensation plans (1,534) 885
Cash dividends (81,283) (64,159)
Cash provided by financing activities 209,382 687,116
Effect of exchange rate changes on cash (6,378) 2,412
Net (decrease) increase in cash and cash equivalents (295,650) 369,036
Cash and cash equivalents—Beginning of period 1,190,080 834,837
Cash and cash equivalents—End of period 894,430 1,203,873
Supplemental information:    
Interest 21,166 15,701
Premium taxes 45,683 47,729
Income taxes, less refunds of $711 and $9,843 $ 52,069 $ 20,510