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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash Flows From Operating Activities      
Net income (loss) $ 80,594 $ (112,706) $ 14,820
Adjustments to reconcile net income to net cash provided by operating activities      
Net accretion of bond premium 13,597 10,444 9,372
Depreciation and amortization 6,570 6,656 11,191
Goodwill impairment 0 15,091 0
Stock-based compensation expense 3,444 4,992 6,152
Net investment (gains) losses (47,383) 32,395 (53,779)
Net cash flows from trading investments 38,411 72,753 1,415
Deferred income tax benefit 5,632 (17,468) 10,148
Changes in:      
Accrued investment income 1,219 567 592
Premiums receivable 521 40,340 (10,807)
Deferred policy acquisition costs (4,352) 7,198 (1,496)
Reinsurance receivables 32,725 (88,171) (11,032)
Prepaid reinsurance premiums 3,637 (3,415) (2,487)
Income taxes receivable 33,816 (47,004) (4,155)
Other assets (43,865) (7,291) (11,972)
Losses, claims and loss settlement expenses (63,866) 156,377 109,271
Unearned premiums (25,112) (40,317) 12,244
Accrued expenses and other liabilities 2,430 (6,129) 15,659
Deferred income taxes (464) 7,521 (110)
Other, net (7,637) 9,602 (1,274)
Cash from operating activities (50,677) 154,141 78,932
Net cash provided by operating activities 29,917 41,435 93,752
Cash Flows From Investing Activities      
Proceeds from sale of available-for-sale investments 180,514 50,744 41,760
Proceeds from call and maturity of available-for-sale investments 264,237 318,981 265,515
Proceeds from short-term and other investments 6,387 6,494 4,397
Purchase of available-for-sale investments (395,787) (438,035) (213,437)
Purchase of mortgage loans 0 (5,564) (16,933)
Purchase of short-term and other investments (9,644) (6,629) (44,375)
Net purchases and sales of property and equipment (13,976) (18,862) (32,426)
Net cash provided by (used in) investing activities 31,731 (92,871) 4,501
Cash Flows From Financing Activities      
Borrowings of long-term debt 0 50,000 0
Payment of cash dividends (15,064) (28,526) (32,662)
Repurchase of common stock (2,007) (2,741) (11,700)
Issuance of common stock (421) (71) 2,377
Net cash provided by (used in) financing activities (17,492) 18,662 (41,985)
Net Change in Cash and Cash Equivalents 44,156 (32,774) 56,268
Cash and Cash Equivalents at Beginning of Year 87,948 120,722 64,454
Cash and Cash Equivalents at End of Year $ 132,104 $ 87,948 $ 120,722