XML 18 R6.htm IDEA: XBRL DOCUMENT v3.22.2
Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES    
Net (loss) income $ (407,599) $ 216,176
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 45,699 36,842
Net realized investment losses (gains) 437,024 (100,496)
Increase in premiums receivable (17,532) (26,634)
Decrease (increase) in reinsurance recoverables 17,293 (4,217)
Changes in current and deferred income taxes (116,992) 435
Increase in deferred policy acquisition costs (15,274) (3,829)
Increase in loss and loss adjustment expense reserves 160,392 99,711
Increase in unearned premiums 78,141 65,251
(Decrease) increase in accounts payable and accrued expenses (1,756) 375
Share-based compensation 15 70
Other, net 15,495 33,557
Net cash provided by operating activities 194,906 317,241
Fixed maturity securities available for sale in nature:    
Purchases (777,936) (574,598)
Sales 365,827 86,022
Calls or maturities 266,801 225,650
Equity securities available for sale in nature:    
Purchases (484,172) (434,406)
Sales 504,912 466,292
Changes in securities payable and receivable 2,694 32,107
Increase in short-term investments (32,711) (1,126)
Purchases of fixed assets (17,072) (17,802)
Other, net 2,454 973
Net cash used in investing activities (169,203) (216,888)
CASH FLOWS FROM FINANCING ACTIVITIES    
Dividends paid to shareholders (70,321) (70,044)
Proceeds from stock options exercised 0 215
Payments on finance lease obligations (937) (388)
Net cash used in financing activities (71,258) (70,217)
Net (decrease) increase in cash (45,555) 30,136
Cash:    
Beginning of the year 335,557 348,479
End of period 290,002 378,615
SUPPLEMENTAL CASH FLOW DISCLOSURE    
Interest paid 8,325 8,303
Income taxes paid, net $ 175 $ 51,209