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Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 338,547 $ 366,886
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 53,720 53,844
Net realized investment gains (131,251) (155,536)
Net gains on sales of fixed assets (2,690) (20,113)
Loss on property held for sale 0 6,420
Increase in premiums receivable (81,435) (123,554)
(Increase) decrease in reinsurance recoverables (147,156) 3,928
Changes in current and deferred income taxes 79,095 40,583
Increase in deferred policy acquisition costs (27,554) (47,562)
Increase in loss and loss adjustment expense reserves 443,941 287,988
Increase in unearned premiums 233,701 341,250
Increase in accounts payable and accrued expenses 6,465 54,559
Other, net 33,932 (19,894)
Net cash provided by operating activities 799,315 788,799
Fixed maturity securities available for sale in nature:    
Purchases (1,318,484) (1,221,342)
Sales 421,353 163,105
Calls or maturities 669,936 562,132
Equity securities available for sale in nature:    
Purchases (1,452,843) (1,276,932)
Sales 1,681,568 1,193,926
Calls 0 7,185
Changes in securities payable and receivable (19,837) 14,026
Increase in short-term investments (189,066) (99,233)
Purchases of fixed assets (44,416) (33,814)
Sales of fixed assets 34,153 12,707
Other, net 4,710 8,966
Net cash used in investing activities (212,926) (669,274)
CASH FLOWS FROM FINANCING ACTIVITIES    
Dividends paid to shareholders (52,757) (52,741)
Payments on finance lease obligations (1,314) (1,412)
Net cash used in financing activities (54,071) (54,153)
Net increase in cash 532,318 65,372
Cash:    
Beginning of the year 720,257 550,903
End of period 1,252,575 616,275
SUPPLEMENTAL CASH FLOW DISCLOSURE    
Interest paid 25,362 26,783
Income taxes (refunded) paid, net $ (2,877) $ 43,912