XML 25 R7.htm IDEA: XBRL DOCUMENT v3.24.0.1
Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income (loss) $ 96,336 $ (512,672) $ 247,937
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 72,240 82,390 79,056
Net realized investment (gains) losses (101,014) 488,080 (111,658)
Net (gains) losses on sales of fixed assets (5,879) 86 (17)
Loss on property held for sale 0 841 0
(Increase) decrease in premiums receivable (35,615) 49,630 (26,670)
(Increase) decrease in reinsurance recoverables (6,052) 19,105 3,488
Changes in current and deferred income taxes 60,945 (131,500) (18,097)
Increase in deferred policy acquisition costs (27,369) (8,216) (11,265)
Increase in loss and loss adjustment expense reserves 200,792 358,480 235,126
Increase in unearned premiums 190,021 25,840 113,926
Increase (decrease) in accounts payable and accrued expenses 23,162 (15,844) (26,724)
Other, net (14,579) (3,631) 16,482
Net cash provided by operating activities 452,988 352,589 501,584
Fixed maturity securities available for sale in nature:      
Purchases (784,752) (1,794,817) (1,460,641)
Sales 276,805 856,291 336,201
Calls or maturities 294,309 480,023 518,557
Equity securities available for sale in nature:      
Purchases (1,356,493) (1,042,913) (958,008)
Sales 1,356,132 1,154,523 943,857
Changes in securities payable and receivable (36,435) 22,124 8,327
(Increase) decrease in short-term investments (48,446) 38,141 270,383
Purchases of fixed assets (36,810) (35,508) (41,442)
Sales of fixed assets 29,876 3 27
Other, net 10,377 5,749 9,069
Net cash used in investing activities (295,437) (316,384) (373,670)
CASH FLOWS FROM FINANCING ACTIVITIES      
Dividends paid to shareholders (70,322) (105,482) (140,226)
Proceeds from stock options exercised 0 0 215
Payments on finance lease obligations (1,102) (1,504) (825)
Proceeds from bank loan 175,000 25,000 0
Net cash provided by (used in) financing activities 103,576 (81,986) (140,836)
Net increase (decrease) in cash 261,127 (45,781) (12,922)
Cash:      
Beginning of year 289,776 335,557 348,479
End of year 550,903 289,776 335,557
SUPPLEMENTAL CASH FLOW DISCLOSURE      
Interest paid 23,000 16,665 16,616
Income taxes paid (refunded), net $ (57,853) $ (26,542) $ 69,467