XML 20 R9.htm IDEA: XBRL DOCUMENT v3.22.0.1
Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Operating Activities    
Net income $ 67,020 $ 39,420
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 1,892 1,759
Amortization of investments, net 994 872
Amortization of other intangible assets, net 544 504
Share-based compensation expense related to stock appreciation rights 299 229
Net gain on disposals of property (3,957) (26)
Net realized gain on securities (911) (311)
Net realized gain on other investments (958) (22)
Changes in the estimated fair value of equity security investments (14,934) (4,904)
Net earnings from other investments (4,040) (2,880)
Provision for claims 5,686 5,204
Provision for deferred income taxes 4,825 1,218
Changes in assets and liabilities:    
Increase in premium and fees receivable (3,526) (6,904)
Increase in other assets (9,017) (3,977)
(Increase) decrease in operating lease right-of-use assets (1,669) 842
Increase (decrease) in operating lease liabilities 1,660 (833)
Increase in accounts payable and accrued liabilities 7,848 7,559
Increase (decrease) in current income taxes payable 2,691 (702)
Payments of claims, net of recoveries (2,516) (2,953)
Net cash provided by (used in) operating activities 51,931 34,095
Investing Activities    
Purchases of fixed maturity securities 0 (22,209)
Purchases of equity securities (4,688) (11,379)
Purchases of short-term investments (34,015) (16,427)
Purchases of other investments (6,616) (1,714)
Proceeds from sales and maturities of fixed maturity securities 35,550 9,509
Proceeds from the sale of equity securities 8,577 13,234
Proceeds from sales and maturities of short-term investments 3,257 14,398
Proceeds from sales and distributions of other investments 5,838 3,083
Proceeds from sales of other assets 960 22
Purchases of property, equipment and software (6,534) (3,202)
Proceeds from disposals of property 6,739 85
Net cash provided by (used in) investing activities 9,068 (14,600)
Financing Activities    
Repurchases of common stock 0 (6)
Exercise of stock appreciation rights (1) 1
Dividends paid (37,553) (31,716)
Net cash provided by (used in) financing activities (37,554) (31,721)
Net Increase (Decrease) in Cash and Cash Equivalents 23,445 (12,226)
Cash and Cash Equivalents, Beginning of Period 13,723 25,949
Cash and Cash Equivalents, End of Period 37,168 13,723
Cash Paid During the Year for:    
Income tax payments, net 10,410 10,226
Non cash net unrealized loss (gain) on investments, net of deferred tax benefit (provision) of $295 and $(367) for December 31, 2021 and 2020, respectively 1,100 (1,338)
Adjustments to postretirement benefits obligation, net of deferred tax benefit of $— and $31 for December 31, 2021 and 2020, respectively 0 112
Adjustments to operating lease right-of-use assets for December 31, 2021 and 2020, respectively $ 0 $ 94