XML 41 R7.htm IDEA: XBRL DOCUMENT v3.8.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Cash flows from operating activities [Abstract]      
Net income $ 121,088 $ 308,253 $ 286,924
Less: Income (loss) from discontinued operations, net of tax 0 0 5,385
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
Net (gains) losses on investments and other financial instruments (3,621) (30,751) (35,693)
Loss on induced conversion and debt extinguishment 51,469 75,075 94,207
Deferred income tax provision 166,527 170,887 156,170
Goodwill, Impairment Loss 184,374 0 0
Amortization and impairment of other intangible assets 27,797 13,221 12,986
Depreciation, other amortization, and other impairments, net 58,038 57,795 68,639
Change in:      
Accounts and notes receivable 3,628 (16,011) 25,656
Prepaid reinsurance premiums (157,071) (188,947) 16,800
Unearned premiums 42,716 862 35,796
Reserve for losses and LAE (252,681) (216,135) (583,633)
Reinsurance funds withheld 130,397 158,001 0
Other assets (16,491) (7,662) 7,799
Other liabilities 4,405 57,136 (66,786)
Net cash provided by (used in) operating activities, continuing operations 360,575 381,724 13,480
Net cash provided by (used in) operating activities, discontinued operations 0 0 (1,759)
Net cash provided by (used in) operating activities 360,575 381,724 11,721
Cash flows from investing activities:      
Proceeds from Sale and Maturity of Available-for-sale Securities 888,219 687,173 20,100
Proceeds from Sale of Available-for-sale Securities, Equity 38,318 74,868 146,049
Proceeds from Sale of Trading Securities Held-for-investment 194,784 290,855 78,826
Proceeds from redemptions of fixed-maturity investments available for sale 463,548 337,630 103,595
Proceeds from redemptions of fixed-maturity investments held to maturity 79,296 123,645 221,914
Purchases of Available-for-sale Securities (1,947,916) (1,990,652) (1,486,318)
Purchases of equity securities available for sale (213,469) (830) (75,538)
Sales, redemptions and (purchases) of short-term investments, net 324,258 334,456 222,882
Sales, redemptions and (purchases) of other assets and other invested assets, net 882 2,489 16,717
Net Cash Received (Transferred) In Sale Of Subsidiaries (650) 0 784,866
Purchases of property and equipment, net (28,676) (35,542) (25,466)
Acquisitions, net of cash acquired (86) (150) (9,834)
Net cash provided by (used in) investing activities, continuing operations (201,492) (176,058) (2,207)
Net cash provided by (used in) investing activities, discontinued operations 0 0 4,999
Net cash provided by (used in) investing activities (201,492) (176,058) 2,792
Cash flows from financing activities:      
Dividends paid (2,154) (2,105) (1,996)
Issuance of long-term debt, net 442,163 343,417 343,334
Purchases and redemptions of long-term debt (593,527) (445,072) (156,172)
Proceeds from termination of capped calls 4,208 0 13,150
Issuance of common stock 7,132 717 1,285
Purchase of common shares (6) (100,188) (202,000)
Credit facility commitment fees paid (1,993) 0 0
Change in payable under securities lending agreements 19,357 0 0
Excess tax benefits from stock-based awards (Note 2) 0 333 3,000
Repayment of other borrowings (264) (371) 0
Net cash provided by (used in) financing activities, continuing operations (125,084) (203,269) 601
Net cash provided by (used in) financing activities, discontinued operations 0 0 0
Net cash provided by (used in) financing activities (125,084) (203,269) 601
Effect of exchange rate changes on cash and restricted cash 431 (481) (133)
Increase (decrease) in cash and restricted cash 34,430 1,916 14,981
Cash and restricted cash, beginning of period 61,814 59,898 44,496
Less: Increase (decrease) in cash of business held for sale 0 0 (421)
Cash and restricted cash, end of period 96,244 61,814 59,898
Supplemental disclosures of cash flow information:      
Income taxes paid (received), continuing operations 94,328 (673) 3,712
Income taxes paid, discontinued operations 0 0 2,036
Interest paid $ 57,453 $ 65,531 $ 61,077