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Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Cash flows from operating activities:      
Net earnings $ 130,591 $ 127,432 $ 93,845
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Net realized investment losses (gains) (17,036) (23,243) 12,755
Depreciation 3,177 3,037 3,284
Other items, net (9,144) (521) 6,441
Change in:      
Accrued investment income 2,577 2,230 381
Premiums and reinsurance balances receivable (net of direct write-offs and commutations) 14,303 (23,430) 8,188
Reinsurance balances payable 27,010 1,420 (7,793)
Funds held 78,483 (5,618) 4,731
Ceded unearned premium 2,025 2,748 598
Reinsurance balances recoverable on unpaid losses 358 (17,771) 13,892
Deferred policy acquisition costs (7,184) 1,445 2,640
Accounts payable and accrued expenses (17,619) 601 8,941
Unpaid losses and settlement expenses (95,616) 27,483 (12,851)
Unearned premiums 8,593 (10,990) (22,643)
Income taxes:      
Current (1,440) 16,691 (3,412)
Deferred 9,614 (375) 14,905
Stock option excess tax benefit (4,210) (2,732) (444)
Changes in investment in unconsolidated investees:      
Undistributed earnings (6,497) (7,101) (5,052)
Dividends received   7,920  
Net proceeds from trading portfolio activity 6 1,009 9,353
Net cash provided by operating activities 117,991 100,235 127,759
Purchase of:      
Fixed income, held-to-maturity (209,300) (348,252) (231,456)
Fixed income, available-for-sale (450,813) (549,843) (622,826)
Equity securities, available-for-sale (87,346) (63,504) (123,861)
Property and equipment (5,382) (2,841) (11,565)
Acquisition of CBIC, net of cash acquired (120,767)    
Proceeds from sale of:      
Fixed income, available-for-sale 383,664 323,887 230,604
Equity securities, available-for-sale 40,092 35,559 178,098
Short-term investments, net 15,922 64,673 23,715
Property and equipment 1,424 544 10,736
Proceeds from call or maturity of:      
Fixed income, held-to-maturity 258,493 249,927 60,412
Fixed income, available-for-sale 261,654 382,456 390,044
Net cash provided by (used in) investing activities 87,641 92,606 (96,099)
Cash flows from financing activities:      
Stock option excess tax benefit 4,210 2,732 444
Proceeds from stock option exercises 8,821 5,087 4,804
Treasury shares purchased (6,624) (23,858) (19,251)
Treasury shares reissued     5,222
Cash dividends paid (130,855) (176,802) (22,879)
Net cash used in financing activities (124,448) (192,841) (31,660)
Net increase in cash 81,184    
Cash at beginning of year 0    
Cash at end of year $ 81,184 $ 0