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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash Flows From Operating Activities    
Net income $ 127.6 $ 255.2
Adjustments to reconcile net income to net cash provided by operating activities:    
Net realized and unrealized investment (gains) losses 138.9 (73.0)
Net amortization and depreciation 10.0 12.5
Stock-based compensation expense 21.8 16.8
Amortization of defined benefit plan costs 4.1 2.5
Deferred income tax expense (benefit) (42.5) 12.4
Change in deferred acquisition costs (48.2) (67.1)
Change in premiums receivable, net of reinsurance premiums payable (131.0) (144.0)
Change in loss, loss adjustment expense and unearned premium reserves 563.5 776.9
Change in reinsurance recoverable (38.5) (128.4)
Change in expenses and taxes payable (29.3) (51.0)
Other, net (52.6) (17.4)
Net cash provided by operating activities 523.8 595.4
Cash Flows From Investing Activities    
Proceeds from disposals and maturities of fixed maturities 799.0 1,155.6
Proceeds from disposals of equity securities and other investments 260.1 209.6
Purchase of fixed maturities (1,429.2) (1,571.5)
Purchase of equity securities and other investments (92.2) (125.7)
Capital expenditures (13.9) (5.7)
Net cash used in investing activities (476.2) (337.7)
Cash Flows From Financing Activities    
Proceeds from exercise of employee stock options 10.6 19.3
Dividends paid to shareholders (80.1) (75.6)
Repurchases of common stock (30.8) (142.6)
Other financing activities (13.4) (8.2)
Net cash used in financing activities (113.7) (207.1)
Net change in cash and cash equivalents (66.1) 50.6
Cash and cash equivalents, beginning of period 230.9 120.6
Cash and cash equivalents, end of period $ 164.8 $ 171.2