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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Cash flows from operating activities    
Net earnings $ 171,182 $ 149,360
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:    
Depreciation and amortization 33,107 35,663
Change in the fair value of equity securities 42,649  
Net realized capital (gains) losses (44,505) (59,651)
Other than temporary impairment losses 511 3,217
(Increase) decrease in reinsurance recoverables, net of reinsurance payable 96,582 34,196
(Increase) decrease in premium balances receivable (58,732) (62,971)
(Increase) decrease in ceded unearned premiums (14,388) (17,874)
(Increase) decrease in deferred acquisition costs (14,178) (6,488)
(Increase) decrease in funds held under reinsurance agreements 609 (23,885)
Increase (decrease) in unearned premiums 69,299 39,448
Increase (decrease) in loss and loss adjustment expenses (156,981) (97,254)
Change in unrealized foreign exchange losses (gains) (35,143) (19,971)
Other, net (95,181) (16,322)
Net adjustments (176,351) (191,892)
Net cash provided by (used in) operating activities (5,169) (42,532)
Cash flows from investing activities    
Purchases of debt securities (989,813) (1,811,566)
Purchases of equity securities (451,519) (304,343)
Sales of debt securities 1,014,024 1,349,608
Maturities and redemptions of debt securities 466,457 443,960
Sales of equity securities 172,819 1,363,269
Net (purchases) sales of short-term investments (33,634) (949,847)
Net (purchases) sales and maturities of commercial mortgage loans (5,569) (24,803)
(Purchases) sales of property and equipment (11,057) (4,480)
Purchases of affiliates and subsidiaries, net of cash acquired (105,386)  
Other, net (23,951) 29,388
Net cash provided by (used in) investing activities 32,371 91,186
Cash flows from financing activities    
Treasury stock acquisitions (21,268)  
Increase (decrease) in other debt 9,957 (5,509)
Cash dividends paid (153,967)  
Other, net 4,654 (13,057)
Net cash provided by (used in) financing activities (160,624) (18,566)
Effect of exchange rate changes on cash 6,087 266
Net increase (decrease) in cash (127,335) 30,354
Cash at beginning of period 838,375 594,091
Cash at end of period 711,040 624,445
Cash paid during period for:    
Interest paid 16,942 16,359
Income taxes paid (refund received) $ 20,275 $ 5,949