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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash Flows From Operating Activities    
Net income $ (49,308) $ (5,089)
Adjustments to reconcile net income to net cash provided by (used in) operating activities    
Net accretion of bond premium 5,238 6,969
Depreciation and amortization 7,841 8,079
Stock-based compensation expense 3,124 2,590
Net investment (gains) losses 2,384 35,647
Net cash flows from equity and trading investments 116,080 29,725
Deferred income tax expense (benefit) (11,633) (9,224)
Changes in:    
Accrued investment income (2,789) (1,773)
Premiums receivable (109,903) (57,570)
Deferred policy acquisition costs (21,067) (14,930)
Reinsurance receivables (40,692) (28,145)
Prepaid reinsurance premiums (10,125) (2,814)
Income taxes receivable (5,051) (7,215)
Other assets (1,596) 6,758
Losses and loss settlement expenses 139,644 (49,757)
Unearned premiums 86,275 48,560
Accrued expenses and other liabilities 36,446 1,403
Other, net 4,638 6,993
Cash from operating activities 198,814 (24,704)
Net cash provided by (used in) operating activities 149,506 (29,793)
Cash Flows From Investing Activities    
Proceeds from sale of available-for-sale investments 48,749 83,409
Proceeds from call and maturity of available-for-sale investments 46,397 145,618
Proceeds from sale of other investments 3,482 3,243
Purchase of investments in mortgage loans (8,137) (103)
Purchase of investments available-for-sale (232,216) (262,359)
Purchase of other investments (14,899) (5,447)
Net purchases and sales of property and equipment (8,037) (2,675)
Net cash provided by (used in) investing activities (164,661) (38,314)
Cash Flows From Financing Activities    
Issuance of common stock (223) 846
Payment of cash dividends (12,122) (11,826)
Net cash provided by (used in) financing activities (12,345) (10,980)
Net Change in Cash and Cash Equivalents (27,500) (79,087)
Cash and Cash Equivalents at Beginning of Period 96,650 132,104
Cash and Cash Equivalents at End of Period 69,150 53,017
Supplemental Disclosures of Cash Flow Information    
Income taxes paid 1,336 21,537
Interest paid $ 2,391 $ 2,391