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CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Cash flows from operating activities:      
Net income (loss) $ 251,949us-gaap_NetIncomeLoss $ (49,848)us-gaap_NetIncomeLoss $ (927,079)us-gaap_NetIncomeLoss
Adjustments to reconcile net income (loss) to net cash used in operating activities:      
Depreciation and other amortization 48,365us-gaap_DepreciationAmortizationAndAccretionNet 68,716us-gaap_DepreciationAmortizationAndAccretionNet 100,135us-gaap_DepreciationAmortizationAndAccretionNet
Deferred tax provision (benefit) 312us-gaap_IncreaseDecreaseInDeferredIncomeTaxes 590us-gaap_IncreaseDecreaseInDeferredIncomeTaxes (34)us-gaap_IncreaseDecreaseInDeferredIncomeTaxes
Realized investment gains, net (1,501)us-gaap_GainLossOnSaleOfSecuritiesNet (6,059)us-gaap_GainLossOnSaleOfSecuritiesNet (197,719)us-gaap_GainLossOnSaleOfSecuritiesNet
Net investment impairment losses 144us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNet 328us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNet 2,310us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNet
Loss (gain) on repurchase on senior notes 837us-gaap_GainLossOnRepurchaseOfDebtInstrument 0us-gaap_GainLossOnRepurchaseOfDebtInstrument (17,775)us-gaap_GainLossOnRepurchaseOfDebtInstrument
Other (5,084)us-gaap_OtherNoncashIncomeExpense 30,077us-gaap_OtherNoncashIncomeExpense (21,802)us-gaap_OtherNoncashIncomeExpense
Change in certain assets and liabilities:      
Accrued investment income 1,142us-gaap_IncreaseDecreaseInAccruedInvestmentIncomeReceivable (4,417)us-gaap_IncreaseDecreaseInAccruedInvestmentIncomeReceivable 28,423us-gaap_IncreaseDecreaseInAccruedInvestmentIncomeReceivable
Prepaid reinsurance premium (11,380)us-gaap_IncreaseDecreaseInPrepaidReinsurancePremiums (35,402)us-gaap_IncreaseDecreaseInPrepaidReinsurancePremiums 776us-gaap_IncreaseDecreaseInPrepaidReinsurancePremiums
Reinsurance recoverable on loss reserves 6,244us-gaap_IncreaseDecreaseInReinsuranceRecoverable 40,763us-gaap_IncreaseDecreaseInReinsuranceRecoverable 49,759us-gaap_IncreaseDecreaseInReinsuranceRecoverable
Reinsurance recoverable on paid losses 4,001mtg_IncreaseDecreaseInReinsuranceRecoverableOnPaidLosses 5,180mtg_IncreaseDecreaseInReinsuranceRecoverableOnPaidLosses 4,286mtg_IncreaseDecreaseInReinsuranceRecoverableOnPaidLosses
Premiums receivable 4,859us-gaap_IncreaseDecreaseInPremiumsReceivable 5,527us-gaap_IncreaseDecreaseInPremiumsReceivable 3,245us-gaap_IncreaseDecreaseInPremiumsReceivable
Deferred insurance policy acquisition costs (2,519)us-gaap_IncreaseDecreaseInDeferredPolicyAcquisitionCosts 1,524us-gaap_IncreaseDecreaseInDeferredPolicyAcquisitionCosts (3,740)us-gaap_IncreaseDecreaseInDeferredPolicyAcquisitionCosts
Profit commission receivable (89,132)mtg_IncreaseDecreaseInProfitCommissionReceivable (2,368)mtg_IncreaseDecreaseInProfitCommissionReceivable 0mtg_IncreaseDecreaseInProfitCommissionReceivable
Real estate 622us-gaap_IncreaseDecreaseInOtherOperatingAssets (9,817)us-gaap_IncreaseDecreaseInOtherOperatingAssets (1,842)us-gaap_IncreaseDecreaseInOtherOperatingAssets
Loss reserves (664,594)us-gaap_IncreaseDecreaseInLossAndLossAdjustmentExpenseReserve (995,442)us-gaap_IncreaseDecreaseInLossAndLossAdjustmentExpenseReserve (500,669)us-gaap_IncreaseDecreaseInLossAndLossAdjustmentExpenseReserve
Premium deficiency reserve (24,710)mtg_IncreaseDecreaseInPremiumDeficiencyReserveCashFlow (25,320)mtg_IncreaseDecreaseInPremiumDeficiencyReserveCashFlow (61,036)mtg_IncreaseDecreaseInPremiumDeficiencyReserveCashFlow
Unearned premiums 48,935us-gaap_IncreaseDecreaseInUnearnedPremiums 15,639us-gaap_IncreaseDecreaseInUnearnedPremiums (16,026)us-gaap_IncreaseDecreaseInUnearnedPremiums
Return premium accrual 22,200us-gaap_IncreaseDecreaseInOtherInsuranceLiabilities (11,800)us-gaap_IncreaseDecreaseInOtherInsuranceLiabilities (11,700)us-gaap_IncreaseDecreaseInOtherInsuranceLiabilities
Income taxes payable (current) (674)us-gaap_IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable 598us-gaap_IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable 1,888us-gaap_IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable
Net cash used in operating activities (409,984)us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations (971,531)us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations (1,568,600)us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
Purchases of investments:      
Fixed maturities (1,979,917)us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesDebt (3,248,602)us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesDebt (5,025,204)us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesDebt
Equity securities (94)us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesEquity (111)us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesEquity (132)us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesEquity
Proceeds from sales of fixed maturities 1,147,624us-gaap_ProceedsFromSaleOfAvailableForSaleSecuritiesDebt 1,054,985us-gaap_ProceedsFromSaleOfAvailableForSaleSecuritiesDebt 5,216,934us-gaap_ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
Proceeds from maturity of fixed maturities 1,129,087us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities 1,357,028us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities 1,461,955us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
Net increase (decrease) in payable for securities 13us-gaap_IncreaseDecreaseInBrokerDealerRelatedReceivablesPayablesNet 13us-gaap_IncreaseDecreaseInBrokerDealerRelatedReceivablesPayablesNet (20)us-gaap_IncreaseDecreaseInBrokerDealerRelatedReceivablesPayablesNet
Net decrease (increase) in restricted cash 228us-gaap_IncreaseDecreaseInRestrictedCash (17,440)us-gaap_IncreaseDecreaseInRestrictedCash 0us-gaap_IncreaseDecreaseInRestrictedCash
Net cash provided by (used in) investing activities 296,941us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations (854,127)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations 1,653,533us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
Cash flows from financing activities:      
Net proceeds from convertible senior notes 0us-gaap_ProceedsFromConvertibleDebt 484,625us-gaap_ProceedsFromConvertibleDebt 0us-gaap_ProceedsFromConvertibleDebt
Common stock shares issued 0us-gaap_ProceedsFromIssuanceOfCommonStock 663,335us-gaap_ProceedsFromIssuanceOfCommonStock 0us-gaap_ProceedsFromIssuanceOfCommonStock
Repayment of long-term debt (21,767)us-gaap_RepaymentsOfSeniorDebt (17,235)us-gaap_RepaymentsOfSeniorDebt (53,107)us-gaap_RepaymentsOfSeniorDebt
Net cash (used in) provided by financing activities (21,767)us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations 1,130,725us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations (53,107)us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
Net (decrease) increase in cash and cash equivalents (134,810)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease (694,933)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease 31,826us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Cash and cash equivalents at beginning of year 332,692us-gaap_CashAndCashEquivalentsAtCarryingValue 1,027,625us-gaap_CashAndCashEquivalentsAtCarryingValue 995,799us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash and cash equivalents at end of year $ 197,882us-gaap_CashAndCashEquivalentsAtCarryingValue $ 332,692us-gaap_CashAndCashEquivalentsAtCarryingValue $ 1,027,625us-gaap_CashAndCashEquivalentsAtCarryingValue