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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
CASH FROM OPERATING ACTIVITIES:    
Net income to common stockholders $ 218,520 $ 562,638
Adjustments to reconcile net income to net cash from operating activities:    
Net investment losses (gains) 60,311 (143,691)
Depreciation and amortization 96,195 42,007
Noncontrolling interests 1,975 1,554
Investment funds (1,260) (77,284)
Stock incentive plans 37,842 38,440
Change in:    
Arbitrage trading account (40,487) (20,422)
Premiums and fees receivable (175,636) (206,867)
Reinsurance accounts (204,396) (116,359)
Deferred policy acquisition costs (43,955) (30,537)
Income taxes (56,955) (16,449)
Reserves for losses and loss expenses 879,277 443,454
Unearned premiums 407,227 336,664
Other (41,713) (18,104)
Net cash from operating activities 1,136,945 795,044
CASH FROM (USED IN) INVESTING ACTIVITIES:    
Proceeds from sale of fixed maturity securities 3,525,926 1,341,688
Proceeds from sale of equity securities 66,850 40,709
Distributions from investment funds 83,935 187,321
Proceeds from maturities and prepayments of fixed maturity securities 2,876,642 2,278,264
Purchase of fixed maturity securities (6,074,429) (3,853,108)
Purchase of equity securities (77,840) (66,305)
Real estate purchased (42,405) (176,538)
Change in loans receivable 1,202 3,156
Net purchases of property, furniture and equipment (31,047) (1,802)
Change in balances due to security brokers 36,561 54,620
Other 65 45
Net cash from (used in) investing activities 365,460 (191,950)
CASH FROM (USED IN) FINANCING ACTIVITIES:    
Repayment of senior notes and other debt (302,453) (448,409)
Net proceeds from issuance of debt 747,399 0
Cash dividends to common stockholders (62,822) (130,035)
Purchase of common treasury shares (311,859) 0
Other, net (18,465) (20,750)
Net cash from (used in) financing activities 51,800 (599,194)
Net impact on cash due to change in foreign exchange rates (6,468) (8,952)
Net change in cash and cash equivalents 1,547,737 (5,052)
Cash and cash equivalents at beginning of year 1,023,710 817,602
Cash and cash equivalents at end of period $ 2,571,447 $ 812,550