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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 $ 247,937 $ 374,607 $ 320,087
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 79,056 68,463 64,730
Net realized investment gains (111,658) (85,731) (222,793)
(Increase) decrease in premiums receivable (26,670) 13,946 (49,832)
Decrease in reinsurance recoverables 3,488 30,127 142,314
Changes in current and deferred income taxes (18,097) 31,236 72,545
Increase in deferred policy acquisition costs (11,265) (13,828) (18,035)
Increase in loss and loss adjustment expense reserves 235,126 70,049 91,843
Increase in unearned premiums 113,926 50,326 119,366
(Decrease) increase in accounts payable and accrued expenses (26,724) 51,988 26,493
Share-based compensation 141 142 123
Other, net 16,324 14,291 (27,163)
Net cash provided by operating activities 501,584 605,616 519,678
Fixed maturity securities available for sale in nature:      
Purchases (1,460,641) (878,213) (491,795)
Sales 336,201 168,087 136,560
Calls or maturities 518,557 250,878 316,860
Equity securities available for sale in nature      
Purchases (958,008) (1,230,785) (1,174,759)
Sales 943,857 1,174,540 1,088,701
Calls 0 3,880 0
Changes in securities payable and receivable 8,327 873 (2,536)
Decrease (increase) in short-term investments 270,383 118,830 (240,391)
Purchase of fixed assets (41,442) (39,953) (40,088)
Other, net 9,096 20,577 6,247
Net cash used in investing activities (373,670) (411,286) (401,201)
CASH FLOWS FROM FINANCING ACTIVITIES      
Dividends paid to shareholders (140,226) (139,640) (139,071)
Proceeds from stock options exercised 215 0 701
Payments on finance lease obligations (825) (609) 0
Net cash used in financing activities (140,836) (140,249) (138,370)
Net (decrease) increase in cash (12,922) 54,081 (19,893)
Cash:      
Beginning of year 348,479 294,398 314,291
End of year 335,557 348,479 294,398
SUPPLEMENTAL CASH FLOW DISCLOSURE      
Interest paid 16,616 16,599 16,586
Income taxes paid (refunded), net $ 69,467 $ 52,659 $ (14,564)