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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities:    
Net income $ 234,458 $ 63,846
Adjustments to reconcile net income to cash provided by operating activities:    
Provision for policy losses and other claims 140,447 117,477
Depreciation and amortization 38,298 31,449
Amortization of premiums and accretion of discounts on debt securities, net 11,251 9,952
Net realized investment (gains) losses (66,833) 64,762
Share-based compensation 31,203 25,903
Equity in (earnings) losses of equity method investments, net (1,088) 228
Dividends from equity method investments 2,795 1,402
Changes in assets and liabilities excluding effects of acquisitions and noncash transactions:    
Claims paid, including assets acquired, net of recoveries (118,208) (108,538)
Net change in income tax accounts 64,092 5,181
Increase in accounts and accrued income receivable (7,825) (45,747)
Decrease in accounts payable and accrued liabilities (81,789) (149,960)
Decrease in deferred revenue (19,310) (15,753)
Other, net (3,582) 23,952
Cash provided by operating activities 223,909 24,154
Cash flows from investing activities:    
Net cash effect of acquisitions/dispositions 0 (386,231)
Net (increase) decrease in deposits with banks (295) 2,095
Purchases of debt and equity securities (1,411,674) (588,327)
Proceeds from sales of debt and equity securities 259,503 211,370
Proceeds from maturities of debt securities 432,159 320,523
Investments in unconsolidated entities (14,928) (44,795)
Net change in other investments (19,414) 298
Advances under secured financing agreements (6,282,240) (3,028,490)
Collections of secured financings receivable 6,284,739 2,835,789
Capital expenditures (28,582) (29,213)
Proceeds from sales of property and equipment 688 14,141
Proceeds from insurance settlement 754 0
Cash used for investing activities (779,290) (692,840)
Cash flows from financing activities:    
Net change in deposits 1,303,579 93,916
Borrowings under secured financing agreements 5,234,634 2,998,687
Repayments of secured financings payable (5,105,259) (2,835,442)
Borrowings under unsecured credit facility 0 120,000
Repayments of notes and contracts payable (1,599) (1,338)
Net activity related to noncontrolling interests (2,095) (1,328)
Net payments in connection with share-based compensation (8,378) (14,378)
Repurchases of Company shares (64,786) (65,785)
Payments of cash dividends (50,985) (49,702)
Cash provided by financing activities 1,305,111 244,630
Effect of exchange rate changes on cash 828 (11,918)
Net increase (decrease) in cash and cash equivalents 750,558 (435,974)
Cash and cash equivalents—Beginning of period 1,275,466 1,485,959
Cash and cash equivalents—End of period 2,026,024 1,049,985
Supplemental information:    
Interest 10,803 9,462
Premium taxes 29,400 25,049
Income taxes, less refunds of $114 and $71 $ 7,470 $ 3,239