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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities      
Net earnings $ 1,130,778 $ 126,883 $ 890,201
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:      
Depreciation and amortization 178,031 160,002 119,513
Change in the fair value of equity securities (506,769) 110,459 (709,695)
Net realized capital (gains) losses (67,493) (3,098) 6,551
Change in allowance for credit losses on available for sale securities (2,077) 8,029  
Change in allowance for credit losses on available for sale securities     19,660
(Increase) decrease in reinsurance recoverables, net of reinsurance payable (300,361) (79,149) 259,048
(Increase) decrease in premium balances receivable (313,338) (197,331) (105,368)
(Increase) decrease in ceded unearned premiums (151,514) (63,745) (26,921)
(Increase) decrease in deferred acquisition costs 8,364 (72,540) (58,031)
(Increase) decrease in funds held under reinsurance agreements 160,271 (38,938) (11,458)
Increase (decrease) in unearned premiums 195,453 417,890 299,092
Increase (decrease) in loss and loss adjustment expenses 1,387,009 1,042,267 (321,935)
Change in unrealized foreign currency exchange rate losses (gains) 85,778 (99,134) (18,033)
Other, net 56,101 (274,761) 371,781
Net adjustments 729,455 909,951 (175,796)
Net cash provided by (used in) operating activities 1,860,233 1,036,834 714,405
Cash flows from investing activities      
Purchases of debt securities (6,737,728) (6,721,073) (6,726,809)
Purchases of equity securities (1,092,926) (1,974,625) (520,961)
Sales of debt securities 3,582,319 4,042,915 3,645,307
Maturities and redemptions of debt securities 2,240,302 1,664,285 1,166,841
Sales of equity securities 633,111 1,659,234 2,296,371
Net (purchases) sales of short-term investments (432,422) 208,263 (21,564)
Net (purchases) sales and maturities of commercial mortgage loans 194,379 15,967 (9,674)
(Purchases) sales of property and equipment (59,651) (37,519) (47,572)
Purchases of affiliates and subsidiaries, net of cash acquired (303,475) (128,921) (218,260)
Other, net (33,039) (12,973) (40,218)
Net cash provided by (used in) investing activities (2,009,130) (1,284,447) (476,539)
Cash flows from financing activities      
Repayment of senior notes 0 (307,095) 0
Treasury stock acquisitions (290,521) (194,762) (144,422)
Proceeds from issuance of senior notes 493,195 499,335 0
Debt issue costs paid (5,675) (4,550) 0
Increase (decrease) in other debt 189,749 85,989 81,738
Cash dividends paid 0 (215,013) 0
Other, net (82,178) (27,912) (40,530)
Net cash provided by (used in) financing activities 304,570 (164,008) (103,214)
Effect of foreign exchange rate changes on cash (19,149) 23,965 5,683
Net (decrease) increase in cash 136,524 (387,656) 140,335
Cash at beginning of period 791,442 1,179,098 1,038,763
Cash at end of period 927,966 791,442 1,179,098
Supplemental disclosures of cash flow information      
Interest paid 94,540 91,832 97,016
Income taxes paid (refund received) $ 162,336 $ 90,828 $ 61,786