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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash flows from operating activities    
Net earnings $ 231,913 $ 308,567
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:    
Depreciation and amortization 74,753 86,493
Net realized capital (gains) losses (89,905) (129,311)
Other than temporary impairment losses 26,487 59,598
(Increase) decrease in reinsurance recoverables, net of reinsurance payable 53,007 (28,472)
(Increase) decrease in premium balances receivable (121,075) (159,195)
(Increase) decrease in ceded unearned premiums (12,470) (14,702)
(Increase) decrease in deferred acquisition costs (46,276) (32,215)
(Increase) decrease in funds held under reinsurance agreements (244,868) 41,428
Increase (decrease) in unearned premiums 188,427 145,139
Increase (decrease) in loss and loss adjustment expenses 244,552 (133,655)
Change in unrealized foreign exchange losses (gains) 91,281 106,318
Other, net (74,203) 78,977
Net adjustments 89,710 20,403
Net cash provided by (used in) operating activities 321,623 328,970
Cash flows from investing activities    
Purchases of debt securities (3,578,694) (4,145,599)
Purchases of equity securities (999,284) (2,461,698)
Sales of debt securities 3,263,695 3,100,866
Maturities and redemptions of debt securities 588,638 794,611
Sales of equity securities 1,125,114 2,155,293
Net (purchase) sale in short-term investments (286,695) 109,187
Purchases of property and equipment (9,043) (13,355)
Purchase of subsidiary, net of cash acquired (122,365) (47,469)
Other, net (213,160) 273,495
Net cash provided by (used in) investing activities (231,794) (234,669)
Cash flows from financing activities    
Treasury stock acquisitions (53,288) (40,546)
Other, net (6,699) 259
Net cash provided by (used in) financing activities (59,987) (40,287)
Effect of exchange rate changes on cash 5,710 (11,372)
Net increase (decrease) in cash 35,552 42,642
Cash at beginning of period 475,267 605,259
Cash at end of period 510,819 647,901
Cash paid during period for:    
Interest paid 40,307 51,283
Income taxes paid (refund received) $ 15,197 $ 31,036