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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Operating activities:      
Net income $ 82,726 $ 81,057 $ 95,329
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
Depreciation & amortization 5,429 5,386 4,915
Share-based compensation 17,624 14,997 11,507
Deferred income taxes (5,755) 7,004 16,881
Net realized (gains) losses (9,186) (8,373) (12,812)
Net other-than-temporary losses recognized in earnings 150 1,698 0
Changes in assets and liabilities:      
Reinsurance recoverable on paid and unpaid losses and loss adjustment expenses (2,835) 43,822 (42,024)
Reserves for losses and loss adjustment expenses 87,083 43,010 114,563
Prepaid reinsurance premiums 19,211 5,264 10,344
Unearned premiums 66,668 54,509 52,380
Premiums receivable (30,070) 65,863 (17,455)
Deferred policy acquisition costs (27,677) (12,531) (12,445)
Accrued investment income (1,314) (1,210) (925)
Reinsurance balances payable 1,568 (45,124) (14,716)
Current income taxes (1,988) (8,072) (582)
Other 22,593 (19,676) 17,532
Net cash provided by (used in) operating activities 224,227 227,624 222,492
Fixed maturities      
Redemptions and maturities 275,706 180,876 210,674
Sales 446,666 376,522 362,136
Purchases (962,419) (648,059) (864,902)
Equity securities      
Sales 54,798 96,405 54,900
Purchases (92,329) (215,405) (83,845)
Change in payable for securities (1,517) 1,851 (7,814)
Purchase of other invested assets (1,960)    
Net change in short-term investments 73,541 (38,468) 117,740
Purchase of property and equipment (3,918) (3,577) (8,359)
Net cash provided by (used in) investing activities (211,432) (249,855) (219,470)
Financing activities:      
Proceeds of stock issued from employee stock purchase plan 1,840 1,352 1,067
Proceeds of stock issued from exercise of stock options   29 153
Dividends paid (3,930)    
Net cash provided by (used in) financing activities (2,090) 1,381 1,220
Effect of exchange rate on cash (15,963)    
Change in cash (5,258) (20,850) 4,242
Cash at beginning of year 69,901 90,751 86,509
Cash at end of period 64,643 69,901 90,751
Supplemental cash information:      
Income taxes paid, net 34,830 35,447 27,066
Interest paid 15,238 15,238 15,703
Issuance of stock to directors $ 633 $ 563 $ 438