XML 42 R7.htm IDEA: XBRL DOCUMENT v3.10.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Cash flows from operating activities [Abstract]      
Net income $ 606,011 $ 121,088 $ 308,253
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
Net (gains) losses on investments and other financial instruments 42,476 (3,621) (30,751)
Loss on induced conversion and debt extinguishment 0 51,469 75,075
Deferred income tax provision 120,573 166,527 170,887
Impairment of goodwill 0 184,374 0
Amortization and impairment of other acquired intangible assets 12,429 27,797 13,221
Depreciation, other amortization, and other impairments, net 56,661 58,038 57,795
Change in:      
Accounts and notes receivable (4,599) 3,628 (16,011)
Prepaid reinsurance premiums (31,119) (157,071) (188,947)
Unearned premiums 15,419 42,716 862
Reserve for losses and LAE (109,642) (252,681) (216,135)
Reinsurance funds withheld 32,814 130,397 158,001
Other assets 43,562 (16,491) (7,662)
Other liabilities (106,799) 4,405 57,136
Net cash provided by (used in) operating activities 677,786 360,575 381,724
Cash flows from investing activities:      
Proceeds from sales of Fixed-maturity investments available for sale 728,584 888,219 687,173
Proceeds from sales of Trading securities 58,317 194,784 290,855
Proceeds from sales of Equity securities 95,697 38,318 74,868
Proceeds from redemptions of Fixed-maturity investments available for sale 457,595 463,548 337,630
Proceeds from redemptions of Trading securities 54,329 79,296 123,645
Purchases of Fixed-maturity investments available for sale (1,875,069) (1,947,916) (1,990,652)
Purchases of Equity securities (69,160) (213,469) (830)
Sales, redemptions and (purchases) of Short-term investments, net (108,325) 324,258 334,456
Sales, redemptions and (purchases) of Other assets and other invested assets, net 2,590 882 2,489
Net Cash Received (Transferred) In Sale Of Subsidiaries 0 (650) 0
Purchases of property and equipment, net (26,008) (28,676) (35,542)
Acquisitions, net of cash acquired (7,964) (86) (150)
Net cash provided by (used in) investing activities (689,414) (201,492) (176,058)
Cash flows from financing activities:      
Dividends paid (2,140) (2,154) (2,105)
Issuance of senior notes, net 0 442,163 343,417
Purchases and redemptions of senior notes 0 (593,527) (445,072)
Proceeds from termination of capped calls 0 4,208 0
Issuance of common stock 1,385 7,132 717
Purchase of common shares (50,053) (6) (100,188)
Credit facility commitment fees paid (1,510) (1,993) 0
Change in secured borrowings 39,342 19,357 0
Proceeds from secured borrowings (with terms greater than 3 months) 56,449 0 0
Payments of secured borrowings (with terms greater than 3 months) (20,917) 0 0
Excess tax benefits from stock-based awards 0 0 333
Repayment of other borrowings (170) (264) (371)
Net cash provided by (used in) financing activities 22,386 (125,084) (203,269)
Effect of exchange rate changes on cash and restricted cash 0 431 (481)
Increase (decrease) in cash and restricted cash 10,758 34,430 1,916
Cash and restricted cash, beginning of period 96,244 61,814 59,898
Cash and restricted cash, end of period 107,002 96,244 61,814
Supplemental disclosures of cash flow information:      
Income taxes paid (received) 8,364 94,328 (673)
Interest paid $ 56,688 $ 57,453 $ 65,531