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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net loss $ (65.8) $ (74.8)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 5.1 1.5
Stock-based compensation 15.4 14.1
Amortization of discount on bonds 0.2 2.5
Provision for bad debt 2.3 2.0
Changes in operating assets and liabilities:    
Premium receivable (7.7) (10.6)
Reinsurance recoverable 3.1 (22.7)
Prepaid reinsurance premium 4.7 (7.1)
Deferred acquisition costs 0.0 (0.5)
Other assets 0.7 (4.2)
Unpaid loss and loss adjustment expense (11.0) 9.7
Unearned premium 9.8 14.7
Trade payables 0.8 1.6
Funds held for reinsurance treaties (6.9) 5.1
Deferred ceding commissions (0.2) 2.3
Ceded premium payable 2.5 16.1
Other liabilities and accrued expenses 0.6 10.8
Net cash used in operating activities (46.4) (39.5)
Cash flows from investing activities:    
Proceeds from short-term investments sold or matured 36.6 44.7
Proceeds from bonds sold or matured 106.9 9.2
Cost of short-term investments acquired (23.2) (17.9)
Cost of bonds acquired (102.3) (29.1)
Purchases of property and equipment (2.7) (2.8)
Net cash provided by investing activities 15.3 4.1
Cash flows from financing activities:    
Proceeds from stock exercises 0.1 0.6
Net cash provided by financing activities 0.1 0.6
Effect of exchange rate changes on cash, cash equivalents and restricted cash (0.7) (0.8)
Net decrease in cash, cash equivalents and restricted cash (31.7) (35.6)
Cash, cash equivalents and restricted cash at beginning of period 286.5 270.6
Cash, cash equivalents and restricted cash at end of period 254.8 235.0
Supplemental disclosure of cash flow information:    
Cash paid for income taxes $ 0.2 $ 1.1