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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
CASH FROM (USED IN) OPERATING ACTIVITIES:    
Net income to common stockholders $ 241,342 $ 349,634
Adjustments to reconcile net income to net cash from operating activities:    
Net investment gains (46,601) (161,922)
Depreciation and amortization 42,267 50,832
Noncontrolling interests 151 227
Investment funds (27,912) (84,385)
Stock incentive plans 14,973 13,615
Change in:    
Arbitrage trading account (702) (12,956)
Premiums and fees receivable (133,227) (197,004)
Reinsurance accounts (60,595) (57)
Deferred policy acquisition costs (34,245) (31,527)
Income taxes 48,929 7,742
Reserves for losses and loss expenses 285,204 172,759
Unearned premiums 174,108 297,721
Other (170,809) (150,056)
Net cash from operating activities 332,883 254,623
CASH FROM (USED IN) INVESTING ACTIVITIES:    
Proceeds from sale of fixed maturity securities 794,106 513,281
Proceeds from sale of equity securities 23,547 112,590
Distributions from investment funds 129,181 211,974
Proceeds from maturities and prepayments of fixed maturity securities 1,534,982 1,214,221
Purchase of fixed maturity securities (2,168,400) (2,034,009)
Purchase of equity securities (8,543) (48,484)
Additions to real estate (84,826) (63,919)
SEC Schedule III, Real Estate Accumulated Depreciation, Real Estate Sold 0 343,723
Change in loans receivable 62,601 (312,071)
Net additions to property, furniture and equipment (23,504) (22,555)
Change in balances due to security brokers 18,298 28,313
Net cash from business sold 0 15,548
Net cash from (used in) investing activities 277,442 (41,388)
CASH USED IN FINANCING ACTIVITIES:    
Repayment of senior notes and other debt (275,788) 0
Proceeds from Issuance of Debt 3,749 4,988
Proceeds from Stock Options Exercised 1 53
Cash dividends to common stockholders (28,447) (26,825)
Purchase of common treasury shares (218,132) (197,254)
Other, net (92) 1,365
Net cash used in financing activities (518,709) (217,673)
Net impact on cash due to change in foreign exchange rates (9,689) 7,371
Net change in cash and cash equivalents 81,927 2,933
Cash and cash equivalents at beginning of year 674,441 839,738
Cash and cash equivalents at end of period $ 756,368 $ 842,671