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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operations:    
Net income $ 190.0 $ 331.3
Adjustments to reconcile net income to net cash used for operations:    
Net realized and unrealized investment gains (302.8) (347.8)
Realized gain from the MediaAlpha Transaction 0.0 (67.5)
Deferred income tax expense 87.9 11.4
Net gain from sale of discontinued operations, net of tax 0.8 (1.6)
Amortization of restricted share and option awards 12.2 8.3
Amortization and depreciation 27.2 19.8
Other operating items:    
Net change in premiums and commissions receivable 6.0 (9.4)
Net change in premiums payable 5.3 15.4
Net change in unearned insurance premiums 28.6 27.5
Net change in deferred acquisition costs (4.0) (2.4)
Net change in restricted cash 26.6 17.0
Investments in Kudu Participation Contracts (57.5) (74.4)
Net change in other assets and liabilities, net (8.1) (0.1)
Net cash provided from (used for) operations 12.2 (72.5)
Cash flows from investing activities:    
Net change in short-term investments (370.3) (54.5)
Sales of fixed maturity and convertible investments 293.2 292.6
Maturities, calls and paydowns of fixed maturity and convertible investments 135.2 92.7
Sales of common equity securities 582.9 442.1
Distributions and redemptions of other long-term investments and settlements of forward contracts 64.5 28.7
Purchases of other long-term investments (61.0) (173.0)
Purchases of common equity securities (33.8) (4.8)
Purchases of fixed maturity and convertible investments (411.3) (428.0)
Purchases of consolidated subsidiaries, net of cash acquired of $13.4 and $12.8 (129.4) (243.4)
Other investing activities, net (42.0) (12.9)
Net cash provided from (used for) investing activities 28.0 (60.5)
Cash flows from financing activities:    
Draw down of debt and revolving line of credit 69.4 149.4
Repayment of debt and revolving line of credit (2.7) (22.2)
Cash dividends paid to the Company’s common shareholders (3.2) (3.2)
Common shares repurchased (78.5) 0.0
Distribution to non-controlling interest shareholders (1.2) (27.7)
Payments on contingent consideration earnout liabilities (7.0) (2.6)
Repurchase of shares from non-controlling interest shareholders 0.0 (21.1)
Proceeds from issuance of shares to non-controlling interest shareholders 0.0 62.7
Capital contributions to non-controlling interest shareholders 2.2 1.6
Capital contributions from BAM members 46.9 42.9
Fidus Re premium payment (2.3) (2.2)
Other financing activities, net (9.8) (4.9)
Net cash provided from financing activities 13.8 172.7
Effect of exchange rate changes on cash (0.2) (0.8)
Net change in cash during the period - continuing operations, including the effect of exchange rate changes 53.8 38.9
Cash balances at beginning of period (includes restricted cash balances of $56.3 and $50.0) 161.0 110.3
Cash balances at end of period (includes restricted cash balances of $82.9 and $67.0) 214.8 149.2
Supplemental cash flows information:    
Interest paid (11.4) (11.7)
Net income tax payments $ (0.1) $ (0.3)