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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Feb. 09, 2022
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities        
Net income   $ 742,934 $ 600,671 $ 393,626
Adjustments to reconcile net income to net cash provided by (used in) operating activities:        
Net (gains) losses on investments and other financial instruments   80,733 (15,603) (60,277)
Purchases of mortgage loans held for sale   (3,890) 0 0
Proceeds from repayments of mortgage loans held for sale   393 0 0
Amortization of other acquired intangible assets   4,308 3,450 5,144
Depreciation, other amortization, and other impairments, net   72,267 72,020 66,585
Deferred income tax provision   206,925 161,793 102,079
Change in:        
Accrued investment income   (7,281) 1,235 (1,714)
Accounts and notes receivable   4,210 (2,722) (29,280)
Reinsurance recoverable   42,263 5,306 (56,226)
Deferred policy acquisition costs   (2,143) 1,988 2,454
Prepaid federal income tax   (242,245) (143,234) (76,089)
Other assets   65,744 65,071 114,769
Unearned premiums   (57,611) (119,701) (178,031)
Reserve for losses and LAE   (401,799) (19,771) 443,648
Reinsurance funds withheld   (76,011) (50,477) (13,274)
Other liabilities   (40,499) (2,914) (54,980)
Net cash provided by (used in) operating activities   388,298 557,112 658,434
Proceeds from sales of:        
Fixed-maturities available for sale   399,371 735,340 963,589
Trading securities   8,868 7,952 11,602
Equity securities   8,004 36,748 90,450
Proceeds from redemptions of:        
Fixed-maturities available for sale   789,929 1,225,626 645,068
Trading securities   102,121 16,668 22,913
Purchases of:        
Fixed-maturities available for sale   (1,414,966) (1,980,155) (2,449,762)
Equity securities   (24,637) (105,649) (85,014)
Sales, redemptions and (purchases) of:        
Short-term investments, net   150,694 68,083 (82,925)
Other assets and other invested assets, net   (6,887) 6,126 1,434
Proceeds from sale of subsidiary, net of cash sold   0 0 16,481
Additions to property and equipment   (17,672) (12,601) (17,016)
Net cash provided by (used in) investing activities   (5,175) (1,862) (883,180)
Cash flows from financing activities        
Dividends and dividend equivalents paid   (135,437) (103,298) (97,458)
Issuance of common stock   1,341 1,382 1,553
Repurchases of common stock $ (400,000) (400,195) (399,100) (226,305)
Issuance of senior notes, net   0 0 515,567
Credit facility commitment fees paid   (814) (3,325) (2,292)
Change in secured borrowings, net (with terms three months or less)   102,983 13,565 (37,475)
Proceeds from secured borrowings (with terms greater than three months)   28,704 42,000 207,034
Repayments of secured borrowings (with terms greater than three months)   (75,765) (48,000) (138,006)
Net cash provided by (used in) financing activities   (479,183) (496,776) 222,618
Increase (decrease) in cash and restricted cash   (96,060) 58,474 (2,128)
Cash and restricted cash, beginning of period   152,620 94,146 96,274
Cash and restricted cash, end of period   56,560 152,620 94,146
Supplemental disclosures of cash flow information        
Income taxes paid (Note 10)   243,500 143,973 81,404
Interest paid   $ 79,062 $ 78,704 $ 60,564