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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash Flows From Operating Activities      
Net income (loss) $ (112,706) $ 14,820 $ 27,650
Less net income (loss) from discontinued operations, net of taxes 0 0 (1,912)
Adjustments to reconcile net income to net cash provided by operating activities      
Net accretion of bond premium 10,444 9,372 8,788
Depreciation and amortization 6,656 11,191 5,174
Goodwill impairment 15,091 0 0
Stock-based compensation expense 4,992 6,152 5,249
Net realized investment (gains) losses 32,395 (53,779) 20,179
Net cash flows from trading investments 72,753 1,415 22,514
Deferred income tax benefit (17,468) 10,148 (16,220)
Changes in:      
Accrued investment income 567 592 (1,933)
Premiums receivable 40,340 (10,807) (18,312)
Deferred policy acquisition costs 7,198 (1,496) (4,694)
Reinsurance receivables (88,171) (11,032) 1,857
Prepaid reinsurance premiums (3,415) (2,487) (3,314)
Income taxes receivable (47,004) (4,155) (9,004)
Other assets (7,291) (11,972) (1,524)
Losses, claims and loss settlement expenses 156,377 109,271 88,300
Unearned premiums (40,317) 12,244 27,527
Accrued expenses and other liabilities (6,129) 15,659 (12,319)
Deferred income taxes 7,521 (110) (10,746)
Other, net 9,602 (1,274) 9,847
Cash from operating activities - continuing operations 154,141 78,932 111,369
Cash from operating activities - discontinued operations 0 0 4,024
Cash from operating activities - gain on sale of discontinued operations 0 0 (34,851)
Total adjustments 154,141 78,932 80,542
Net cash provided by operating activities 41,435 93,752 110,104
Cash Flows From Investing Activities      
Proceeds from sale of available-for-sale investments 50,744 41,760 132,250
Proceeds from call and maturity of available-for-sale investments 318,981 265,515 122,250
Proceeds from short-term and other investments 6,494 4,397 9,303
Proceeds from sale of discontinued operations 0 0 276,055
Purchase of available-for-sale investments (438,035) (213,437) (507,380)
Purchase of mortgage loans (5,564) (16,933) (25,853)
Purchase of short-term and other investments (6,629) (44,375) (7,119)
Net purchases and sales of property and equipment (18,862) (32,426) (33,053)
Cash from investing activities - continuing operations (92,871) 4,501 (33,547)
Cash from investing activities - discontinued operations 0 0 14,343
Net cash provided by (used in) investing activities (92,871) 4,501 (19,204)
Cash Flows From Financing Activities      
Borrowings of long-term debt 50,000 0 0
Payment of cash dividends (28,526) (32,662) (105,408)
Repurchase of common stock (2,741) (11,700) (5,404)
Issuance of common stock (71) 2,377 7,171
Cash from financing activities - continued operations 18,662 (41,985) (103,641)
Cash from financing activities - discontinued operations 0 0 (11,547)
Net cash provided by (used in) financing activities 18,662 (41,985) (115,188)
Net Change in Cash and Cash Equivalents (32,774) 56,268 (24,288)
Less: decrease in cash and cash equivalents - discontinued operations 0 0 (6,820)
Net increase (decrease) in cash and cash equivalents - continuing operations (32,774) 56,268 (31,108)
Cash and Cash Equivalents at Beginning of Year - Continuing Operations 120,722 64,454 95,562
Cash and Cash Equivalents at End of Year - Continuing Operations $ 87,948 $ 120,722 $ 64,454