XML 18 R7.htm IDEA: XBRL DOCUMENT v3.5.0.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Cash flows from operating activities:    
Net income $ 262,515 $ 207,135
Adjustments to reconcile net income to cash provided by operating activities:    
Provision for policy losses and other claims 366,473 363,550
Depreciation and amortization 70,905 63,389
Amortization of premiums and accretion of discounts on debt securities, net 20,267 21,702
Excess tax benefits from share-based compensation (3,197) (8,496)
Net realized investment (gains) losses (22,692) 215
Share-based compensation 28,096 20,261
Equity in earnings of affiliates, net (5,771) (7,710)
Dividends from equity method investments 7,953 7,559
Changes in assets and liabilities excluding effects of acquisitions and noncash transactions:    
Claims paid, including assets acquired, net of recoveries (351,349) (364,255)
Net change in income tax accounts 20,765 56,784
Increase in accounts and accrued income receivable (43,454) (32,194)
Decrease in accounts payable and accrued liabilities (99,777) (7,074)
Increase in deferred revenue 23,342 12,049
Other, net (21,857) 19,282
Cash provided by operating activities 252,219 352,197
Cash flows from investing activities:    
Net cash effect of acquisitions/dispositions (73,173) (26,662)
Net decrease in deposits with banks 608 2,471
Purchases of debt and equity securities (1,490,824) (1,726,939)
Proceeds from sales of debt and equity securities 494,717 443,276
Proceeds from maturities of debt securities 744,411 531,440
Net change in other investments 2,798 470
Capital expenditures (103,735) (91,964)
Proceeds from sales of property and equipment 9,218 17,057
Cash used for investing activities (415,980) (850,851)
Cash flows from financing activities:    
Net change in deposits 519,113 288,495
Net proceeds from issuance of debt 160,000  
Repayment of debt (3,745) (4,087)
Net activity related to noncontrolling interests (1,004) (705)
Excess tax benefits from share-based compensation 3,197 8,496
Net payments in connection with share-based compensation plans (754) (1,534)
Purchase of Company shares (454)  
Cash dividends (94,202) (81,283)
Cash provided by financing activities 582,151 209,382
Effect of exchange rate changes on cash (2,399) (6,378)
Net increase (decrease) in cash and cash equivalents 415,991 (295,650)
Cash and cash equivalents—Beginning of period 1,027,321 1,190,080
Cash and cash equivalents—End of period 1,443,312 894,430
Supplemental information:    
Interest 21,097 21,166
Premium taxes 54,151 45,683
Income taxes, less refunds of $2,731 and $711 $ 112,401 $ 52,069