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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash flows from operating activities    
Net earnings $ 752,735 $ 469,586
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:    
Depreciation and amortization 56,942 64,510
Change in the fair value of equity securities (536,013) (142,596)
Net realized capital (gains) losses (16,796) (50,967)
Other than temporary impairment losses 10,020 511
(Increase) decrease in reinsurance recoverables, net of reinsurance payable 271,113 147,456
(Increase) decrease in premium balances receivable (122,872) (34,643)
(Increase) decrease in ceded unearned premiums (22,084) (18,282)
(Increase) decrease in deferred acquisition costs (38,099) (14,897)
(Increase) decrease in funds held under reinsurance agreements 14,471 (13,318)
Increase (decrease) in unearned premiums 197,072 97,516
Increase (decrease) in loss and loss adjustment expenses (618,496) (355,757)
Change in unrealized foreign currency exchange rate losses (gains) (6,370) 48,228
Other, net 231,955 (48,172)
Net adjustments (579,157) (320,411)
Net cash provided by (used in) operating activities 173,578 149,175
Cash flows from investing activities    
Purchases of debt securities (4,197,740) (2,301,614)
Purchases of equity securities (134,894) (533,842)
Sales of debt securities 1,876,234 1,667,526
Maturities and redemptions of debt securities 443,555 886,970
Sales of equity securities 1,950,478 269,567
Net (purchases) sales of short-term investments (156,700) 104,728
Net (purchases) sales and maturities of commercial mortgage loans (14,905) (37,408)
(Purchases) sales of property and equipment (23,942) (13,164)
Purchases of affiliates and subsidiaries, net of cash acquired (64,084) (108,386)
Other, net 8,842 50,415
Net cash provided by (used in) investing activities (313,156) (15,208)
Cash flows from financing activities    
Treasury stock acquisitions (93,152) (236,103)
Increase (decrease) in other debt 46,006 38,452
Cash dividends paid   (153,967)
Other, net (31,344) 5,317
Net cash provided by (used in) financing activities (78,490) (346,301)
Effect of foreign exchange rate changes on cash 4,123 (2,818)
Net increase (decrease) in cash (213,945) (215,152)
Cash at beginning of period 1,038,763 838,375
Cash at end of period 824,818 623,223
Supplemental disclosures of cash flow information    
Interest paid 48,203 42,562
Income taxes paid (refund received) $ (20,672) $ 22,135