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Consolidated Statements of Cash Flows (USD $)
In Thousands
9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Cash flows from operating activities  
Net earnings$ 105,580$ 161,072
Adjustments to reconcile net earnings to net cash provided by operating activities:  
Depreciation and amortization19,89925,433
Net realized capital (gains) losses(63,888)(87,023)
Other than temporary impairment losses2,7569,233
(Increase) decrease in other assets15,42712,280
(Increase) decrease in reinsurance receivable, net of reinsurance payable19,11453,221
(Increase) decrease in premium balances receivable(6,064)24,568
(Increase) decrease in ceded unearned premium reserves(7,829)3,724
(Increase) decrease in deferred acquisition costs(4,659)(293)
Increase (decrease) in other liabilities and current taxes(26,315)770
Increase (decrease) in unearned premiums53,716(5,398)
Increase (decrease) in loss and loss adjustment expenses(575)(132,153)
Net adjustments1,582(95,638)
Net cash (used in) provided by operating activities107,16265,434
Cash flows from investing activities  
Purchases of investments(1,161,233)(1,746,763)
Sales of investments797,2981,332,233
Maturities of investments263,932304,787
Purchases of property and equipment(5,274)(4,807)
Net change in short-term investments88,202(150,844)
Acquisition of equity method investments (20,000)
Other, net(827)60,751
Net cash (used in) provided by investing activities(17,902)(224,643)
Cash flows from financing activities  
Proceeds from issuance of Senior Notes 298,896
Debt issue costs paid (2,846)
Treasury stock acquisitions(76,410)(66,553)
Tax benefit on stock based compensation645513
Other, net243132
Net cash (used in) provided by financing activities(75,522)230,142
Net cash increase (decrease) in cash13,73870,933
Cash at beginning of period76,74132,526
Cash at end of period90,479103,459
Cash paid during the period for:  
Interest16,641 
Income taxes paid (refunds received)$ 34,362$ 46,696