XML 20 R8.htm IDEA: XBRL DOCUMENT v3.20.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash Flows From Operating Activities    
Net income (loss) $ (103,815) $ 37,983
Adjustments to reconcile net income to net cash provided by (used in) operating activities    
Net accretion of bond premium 7,719 7,074
Depreciation and amortization 5,009 4,235
Goodwill impairment 15,091 0
Stock-based compensation expense 3,979 5,248
Net realized investment (gains) losses 62,416 (50,126)
Net cash flows from equity and trading investments 37,552 911
Deferred income tax benefit (21,824) 8,829
Changes in:    
Accrued investment income 154 170
Premiums receivable 5,482 (40,792)
Deferred policy acquisition costs 69 (5,704)
Reinsurance receivables (127,551) 3,664
Prepaid reinsurance premiums (2,734) (887)
Income taxes receivable (38,198) 3,029
Other assets (11,616) (17,645)
Losses and loss settlement expenses 133,329 48,056
Unearned premiums (5,432) 35,296
Accrued expenses and other liabilities 4,593 16,821
Deferred income taxes 7,713 (434)
Other, net 15,196 437
Cash from operating activities 90,947 18,182
Net cash provided by (used in) operating activities (12,868) 56,165
Cash Flows From Investing Activities    
Proceeds from sale of available-for-sale investments 16,907 36,490
Proceeds from call and maturity of available-for-sale investments 239,438 206,478
Proceeds from sale of other investments 5,391 3,607
Purchase of investments in mortgage loans (5,564) (10,723)
Purchase of investments available-for-sale (216,001) (151,528)
Purchase of other investments (4,829) (16,939)
Purchase of property and equipment (15,506) (27,796)
Net cash provided by investing activities 19,836 39,589
Cash Flows From Financing Activities    
Issuance of common stock (568) 2,033
Repurchase of common stock (2,741) (8,127)
Payment of cash dividends (24,777) (24,406)
Net cash used in financing activities (28,086) (30,500)
Net Change in Cash and Cash Equivalents (21,118) 65,254
Cash and Cash Equivalents at Beginning of Period 120,722 64,454
Cash and Cash Equivalents at End of Period $ 99,604 $ 129,708