XML 57 R7.htm IDEA: XBRL DOCUMENT  v2.3.0.11
Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands
6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Operating activities    
Net earnings $ 116,468 $ 154,734
Adjustments to reconcile net earnings to net cash provided by operating activities    
Change in premium, claims and other receivables (103,245) (79,735)
Change in reinsurance recoverables (84,728) (60,013)
Change in ceded unearned premium 36,870 (4,630)
Change in loss and loss adjustments expense payable 147,870 99,370
Change in unearned premium 63,015 32,541
Change in reinsurance, premium and claims payable, excluding restricted cash (30,413) 12,380
Change in accounts payable and accrued liabilities (19,426) (15,389)
Stock-based compensation expense 7,137 6,937
Depreciation and amortization expense 8,769 8,249
(Gain) loss on investments 2,984 (7,329)
Other, net (23,517) (7,789)
Cash provided by operating activities 121,784 139,326
Investing activities    
Proceeds from sales of available for sale fixed income securities 246,331 133,856
Maturity or call of available for sale fixed income securities 285,637 260,053
Maturity or call of held to maturity fixed income securities 24,932 25,253
Cost of available for sale fixed income securities acquired (835,368) (703,341)
Cost of held to maturity fixed income securities acquired   (96,383)
Cost of other investments acquired (27,784)  
Change in short-term investments 292,365 320,927
Payments for purchase of businesses, net of cash received (1,892) (36,348)
Proceeds from sale of subsidiaries and other investments 944 19,855
Other, net (11,886) (9,405)
Cash used by investing activities (26,721) (85,533)
Financing activities    
Advances on line of credit 95,000  
Payments on convertible notes   (64,472)
Sale of common stock 35,236 10,143
Purchase of common stock (200,302) (472)
Dividends paid (33,305) (30,983)
Other, net (2,307) (13,307)
Cash used by financing activities (105,678) (99,091)
Net decrease in cash (10,615) (45,298)
Cash at beginning of year 97,857 129,460
Cash at end of period $ 87,242 $ 84,162