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Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 207,864 $ 288,399
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 50,617 47,412
Net realized investment losses (gains) 28,458 (197,726)
Increase in premiums receivable (18,075) (74,797)
Decrease in reinsurance recoverables 37,241 117,640
Changes in current and deferred income taxes 6,075 60,026
Increase in deferred policy acquisition costs (18,296) (22,563)
Increase in loss and loss adjustment expense reserves 20,731 25,799
Increase in unearned premiums 77,002 147,784
Increase in accounts payable and accrued expenses 38,879 40,764
Share-based compensation 106 88
Other, net 12,650 (19,233)
Net cash provided by operating activities 443,252 413,593
Fixed maturity securities available for sale in nature:    
Purchases (686,541) (384,991)
Sales 127,336 55,882
Calls or maturities 154,180 258,810
Equity securities available for sale in nature:    
Purchases (1,001,624) (852,903)
Sales 849,964 805,752
Calls 3,880 0
Changes in securities payable and receivable 11,923 3,771
Decrease (increase) in short-term investments 240,673 (168,378)
Purchases of fixed assets (29,764) (31,824)
Other, net 19,078 4,972
Net cash used in investing activities (310,895) (308,909)
CASH FLOWS FROM FINANCING ACTIVITIES    
Dividends paid to shareholders (104,626) (104,196)
Proceeds from stock options exercised 0 591
Net cash used in financing activities (104,626) (103,605)
Net increase in cash 27,731 1,079
Cash:    
Beginning of the year 294,398 314,291
End of period 322,129 315,370
SUPPLEMENTAL CASH FLOW DISCLOSURE    
Interest paid 16,573 16,567
Income taxes paid, net $ 37,453 $ 1,178