XML 23 R8.htm IDEA: XBRL DOCUMENT v3.5.0.2
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash Flows From Operating Activities    
Net income $ 80.2 $ 175.6
Adjustments to reconcile net income to net cash provided by operating activities:    
Gain on disposal of U.K. motor business (1.2) (37.7)
Net loss from repayment of debt 86.1 18.5
Net realized investment gains (0.8) (21.6)
Net amortization and depreciation 16.2 16.8
Stock-based compensation expense 5.5 7.5
Amortization of defined benefit plan costs 5.0 7.2
Deferred income tax (benefit) expense (18.0) 18.8
Change in deferred acquisition costs (13.5) (21.4)
Change in premiums receivable, net of reinsurance premiums payable (48.6) (98.9)
Change in loss, loss adjustment expense and unearned premium reserves 332.2 329.2
Change in reinsurance recoverable (58.8) (191.2)
Change in expenses and taxes payable (96.1) (60.3)
Other, net (56.6) (39.8)
Net cash provided by operating activities 231.6 102.7
Cash Flows From Investing Activities    
Proceeds from disposals and maturities of fixed maturities 801.5 881.7
Proceeds from disposals of equity securities and other investments 198.1 230.0
Purchase of fixed maturities (771.0) (668.8)
Purchase of equity securities and other investments (211.1) (236.0)
Cash received from disposal of U.K. motor business, net of cash transferred 44.3
Capital expenditures (8.5) (8.1)
Net cash provided by investing activities 9.0 243.1
Cash Flows From Financing Activities    
Proceeds from exercise of employee stock options 11.3 9.3
Proceeds from debt borrowings, net 370.5  
Change in cash collateral related to securities lending program (21.8) 2.1
Dividends paid to shareholders (39.6) (36.3)
Repayment of debt (461.3) (86.5)
Repurchases of common stock (67.5) (23.5)
Other financing activities (9.3) (2.3)
Net cash used in financing activities (217.7) (137.2)
Effect of exchange rate changes on cash (0.1) 1.8
Net change in cash and cash equivalents 22.8 210.4
Cash and cash equivalents, beginning of period 338.8 373.3
Cash and cash equivalents, end of period $ 361.6 $ 583.7