ASPEN INSURANCE HOLDINGS LTD AHL Cash Flow

Aspen insurance holdings ltd (AHL)

CashFlow / TTM

Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10
Cash flows (used in) operating activities:
Net income
-166,000	-145,800	-183,900	-422,600	-332,100	-266,400	-153,000	196,400	185,500	203,400	392,800	325,400	309,500	323,100	272,400	281,600	363,400	355,800	378,600	448,600	357,900	329,300	241,300	249,000	293,500	280,400	290,800	196,900	121,400	-110,100	-29,800	41,800	141,600	312,700	0	0	0
Proportion due to non-controlling interest
600	1,000	700	1,400	1,400	1,300	900	100	400	100	0	500	600	800	1,600	1,200	700	800	-200	-400	-400	-500	-400	-100	100	200	200	800	400	100	0	0	0	-	-	-	-
Adjustments to reconcile net income to net cash flows from operating activities:
Adjustments to reconcile net income to net cash flows from operating activities:
Depreciation and amortization
41,700	43,400	54,500	57,800	61,800	62,200	55,600	55,800	52,300	51,500	42,800	36,600	27,500	28,500	23,200	25,900	39,600	29,600	41,500	41,700	36,600	41,100	35,000	40,000	36,500	38,800	39,900	31,000	29,000	28,100	25,100	26,200	27,500	21,400	0	0	0
Share-based compensation
5,500	10,100	11,500	12,000	6,500	9,800	10,900	14,700	19,300	15,500	16,200	17,600	17,300	17,900	20,400	13,800	17,200	15,100	17,800	20,000	18,300	21,400	16,600	19,100	19,000	17,800	15,700	11,400	7,400	4,000	7,400	10,700	11,900	12,800	0	0	0
Realized and unrealized investment gains
51,400	110,000	124,700	152,800	198,300	148,900	101,100	97,900	94,000	108,400	150,300	134,300	102,700	94,500	74,300	64,700	85,800	46,300	56,200	78,700	58,500	56,900	60,400	50,000	41,000	35,400	0	0	0	-	-	-	-	-	-	-	-
Realized and unrealized investment losses
42,600	174,700	169,200	178,900	161,700	28,400	53,500	46,300	47,600	63,200	16,400	63,100	83,600	77,500	101,000	50,400	24,900	14,700	1,400	6,000	23,700	20,500	28,400	24,900	8,000	8,600	0	0	0	-	-	-	-	-	-	-	-
Deferred taxes
7,900	7,100	25,000	29,500	32,900	32,500	5,700	7,200	4,000	-9,400	100	-900	1,100	6,800	-8,900	-12,000	-11,300	-4,700	28,700	24,900	13,500	19,500	10,100	11,500	20,300	20,800	17,800	40,100	40,800	36,000	34,100	21,800	30,700	29,900	0	0	0
Change in fair value of loan notes issued by variable interest entities
-6,900	-4,400	13,500	25,000	25,100	21,200	200	-19,400	-15,600	-17,100	-19,000	-17,500	-21,300	-19,800	-18,600	-18,800	-18,100	-18,600	-14,500	-6,000	-3,400	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Net realized and unrealized investment foreign exchange losses/(gains)
-39,600	800	-2,000	24,300	22,200	15,000	6,200	87,200	-9,100	-1,400	-100	-73,000	18,400	-5,500	28,200	8,100	-23,300	-800	-23,500	-7,900	1,500	-3,700	-11,800	-17,500	-5,400	-1,900	-23,100	-20,000	-9,300	0	0	0	0	-	0	0	0
Other investment (gains)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Net change from current period hedged transactions
900	1,800	2,000	2,000	-2,100	-2,600	-4,800	-7,700	-3,300	-700	900	3,900	-3,600	-2,600	-2,200	-2,700	2,400	0	-300	-300	-400	-500	0	0	0	-	-	-	-	-300	0	0	0	-	-	-	0
Amortization of right-of-use operating lease assets
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest on operating lease liabilities
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Insurance reserves:
Losses and loss adjustment expenses
362,300	402,500	276,100	954,800	1,182,100	1,292,200	1,162,000	443,200	426,000	466,200	392,000	343,000	268,900	244,500	274,200	346,700	275,000	159,300	-41,900	-168,500	-206,700	-82,900	-96,100	-178,700	-129,000	-211,900	-191,400	-267,300	-383,100	-700,200	-730,300	-763,300	-713,200	-509,200	0	0	0
Unearned premiums
-163,100	-91,600	68,000	117,700	185,300	174,100	120,600	151,100	85,200	23,900	82,700	97,100	105,000	120,400	145,700	102,200	170,000	152,600	172,000	184,100	174,500	158,500	149,700	149,100	156,700	198,300	170,500	188,300	147,400	60,300	64,200	-30,100	-116,100	-42,800	0	0	0
Reinsurance recoverables:
Unpaid losses
-622,300	-575,800	-1,483,200	-1,009,600	-927,200	-943,700	504,900	-56,000	-155,300	-219,900	63,500	28,600	15,200	-8,600	30,700	16,800	-14,400	-19,300	60,300	117,000	128,100	164,100	17,200	-16,400	-26,000	-70,400	-102,400	-127,900	-122,700	-146,600	-95,600	-82,800	44,600	40,000	0	0	0
Ceded unearned premiums
-34,800	44,800	221,700	260,800	275,800	257,600	214,500	239,400	162,900	87,600	6,600	-32,500	-34,400	-37,800	-7,300	37,500	53,200	51,800	48,500	-11,000	1,500	29,400	28,900	36,000	44,200	34,000	20,500	97,500	28,800	25,200	86,500	-15,000	-65,500	-39,500	0	0	0
Other receivables
32,000	-29,900	28,600	62,400	-19,500	48,200	34,700	-19,600	2,700	-1,400	13,700	6,000	18,500	-600	13,700	9,300	-10,300	4,500	5,300	-3,900	1,400	-12,400	-12,200	3,900	600	-1,600	0	0	0	-	-	-	-	-	-	-	-
Accrued investment income and other receivables
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,100	0	0	0
Deferred policy acquisition costs
-27,900	-41,700	-60,400	-64,000	-51,400	-69,400	-38,400	-48,100	-41,800	-2,400	40,900	60,100	71,200	61,900	49,500	47,100	51,800	41,500	39,400	41,200	49,700	39,100	30,000	30,500	24,100	37,600	39,200	44,100	38,200	29,500	17,800	-800	-14,000	2,300	0	0	0
Reinsurance premiums payable
60,800	52,100	148,900	284,000	133,500	23,800	265,900	167,700	199,100	234,000	34,800	-22,600	-22,400	2,700	16,000	98,200	18,700	4,500	-26,300	-126,600	-24,200	-32,800	109,100	127,000	20,300	-2,300	-63,500	-106,200	-34,700	42,600	-5,800	50,700	36,900	3,200	0	0	0
Funds withheld
-10,900	-8,000	-8,500	-600	12,500	26,700	48,500	43,900	50,800	37,100	12,600	1,500	-6,500	-10,900	-8,400	-3,300	-3,300	400	-300	-33,700	-35,600	-37,800	-31,800	-9,500	-1,900	-6,400	14,400	9,100	600	7,400	-13,900	-1,600	12,700	-1,800	0	0	0
Premiums receivable
-35,900	-31,600	174,800	104,900	169,900	88,700	97,500	197,400	223,100	271,100	220,700	160,900	52,600	123,700	131,700	81,900	116,600	28,500	15,300	-6,900	37,400	-52,100	100,000	154,700	102,700	165,900	47,100	-15,500	117,200	63,500	65,800	76,700	22,700	119,700	0	0	0
Income tax payable
10,700	1,600	-6,100	7,400	10,500	15,900	-29,100	-22,700	-18,300	-20,100	7,600	4,300	-2,200	-7,400	-27,800	-27,300	-17,000	-10,800	35,400	35,600	16,200	21,300	-300	3,800	16,300	18,300	6,300	26,400	-5,300	-32,100	-24,000	-35,500	2,700	2,200	0	0	0
Accrued expenses and other payables
-115,800	-88,200	102,700	109,100	155,800	147,000	62,300	21,300	58,500	75,700	92,700	61,100	-30,800	-11,900	-103,000	-4,000	-8,300	51,600	33,600	-3,500	62,400	-9,600	55,400	31,700	46,500	52,400	22,400	18,600	13,600	-10,400	59,000	71,000	79,900	50,800	0	0	0
Fair value of derivatives and settlement of liabilities under derivatives
-59,200	-5,900	-2,200	-48,700	12,400	16,600	5,700	12,100	7,600	-16,400	-7,600	4,400	2,600	11,400	13,000	700	-15,500	-10,400	-9,000	7,900	16,000	9,200	-1,500	-15,800	-13,000	-7,700	0	0	0	-	-	-	6,900	9,300	0	0	0
Long-term debt and loan notes issued by variable interest entities
-32,000	-44,000	-101,400	-90,400	-77,900	-70,600	-11,000	6,900	5,900	12,200	9,800	1,200	1,700	100	0	0	0	-	-	-	-	200	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Operating lease liabilities
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Intangible assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	100	0	0	0	-	-	-	0	-	-	-	-	-	-	-	-
Other assets
0	-	-	-	0	-	-	-	-	-3,100	-2,300	-1,700	-16,600	-9,300	-7,000	-6,500	9,600	6,300	8,500	19,500	22,000	19,800	-7,600	-21,600	-12,800	-18,200	-2,200	7,100	1,000	9,100	-3,900	9,500	6,400	11,300	0	0	0
Net cash (used in) operating activities
-361,200	-304,500	-382,100	-218,400	-150,000	-111,500	121,200	106,500	301,700	453,200	590,300	612,000	569,400	574,200	491,000	503,900	467,500	607,400	613,500	626,100	674,800	566,400	584,300	585,000	500,500	496,400	410,200	309,100	288,200	343,500	400,600	570,400	676,200	624,300	0	0	0
Cash flows from investing activities:
(Purchases) of fixed income securities — Available for sale
1,401,300	1,785,600	1,769,100	1,746,900	1,779,900	1,573,200	1,804,700	1,892,700	1,995,000	2,236,700	2,435,100	2,384,200	2,331,100	2,131,900	1,932,300	2,026,200	1,951,500	2,005,000	1,822,100	1,866,100	2,022,500	2,129,800	2,221,100	2,006,100	1,753,100	1,529,600	1,296,900	1,268,900	1,561,800	1,784,400	1,758,200	2,211,100	2,135,600	2,096,800	0	0	0
(Purchases) of fixed income securities — Trading
940,000	1,260,900	1,225,600	1,604,100	1,580,200	1,312,900	1,493,300	1,114,900	1,023,000	973,300	775,000	695,800	619,400	556,900	486,800	530,000	614,700	653,400	761,500	890,000	840,500	763,400	668,600	458,400	357,200	300,800	231,100	215,500	206,300	378,600	0	0	0	-	-	-	-
Proceeds from sales and maturities of fixed income securities — Available for sale
1,797,500	1,647,100	1,763,900	2,016,400	1,966,700	2,018,800	2,221,100	2,159,700	2,108,500	2,307,900	2,113,100	1,982,900	1,755,600	1,656,300	1,624,500	2,398,800	2,268,900	1,909,500	3,092,900	2,036,000	1,952,400	1,872,300	1,528,300	1,510,300	1,451,600	1,416,500	1,632,000	1,634,400	1,625,200	1,823,500	0	0	0	-	-	-	-
Proceeds from sales and maturities of fixed income securities — Trading
1,371,900	1,661,000	1,417,200	1,285,800	1,227,400	957,600	876,600	790,100	699,100	593,700	646,500	556,300	518,300	519,900	454,600	-135,500	150,900	615,900	-562,700	516,100	445,700	486,000	831,900	493,700	502,000	257,200	-18,600	89,600	297,100	389,900	1,739,600	2,084,700	1,993,000	2,050,700	0	0	0
(Purchases) of equity securities Available for sale
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	100	2,500	14,100	26,100	37,000	53,100	61,200	59,900	52,800	205,400	0	0	0	-	-	-	-
(Purchases) of equity securities — Trading
0	16,500	36,300	77,700	121,300	131,300	146,900	146,900	161,500	195,300	216,900	241,800	265,800	392,200	456,100	511,000	495,900	361,000	269,100	186,500	151,600	304,400	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Net (purchases) of catastrophe bonds — Trading
4,100	4,100	5,300	8,600	-5,500	-7,400	16,100	6,900	-4,300	-12,800	-18,700	-10,800	13,800	20,900	4,700	2,600	14,800	28,700	31,800	30,100	17,900	5,800	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from sales of equity securities Available for sale
-	-	-	-	-	-	-	-	-	-	-	-	-	108,600	120,900	133,000	144,600	40,000	48,100	65,700	77,900	82,200	72,800	53,200	38,900	46,900	0	0	0	-	-	-	-	-	-	-	0
Proceeds from sales of equity securities — Trading
0	505,600	520,700	763,000	801,000	316,300	526,800	323,500	333,800	372,000	202,500	227,100	246,200	270,800	240,900	195,100	140,600	62,200	45,000	32,200	24,900	24,100	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
(Purchases) of short-term investments — Available for sale
212,600	130,800	173,800	129,500	106,100	130,700	64,600	176,200	200,400	224,600	296,200	184,400	207,400	212,100	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from sales of short-term investments — Available for sale
90,400	113,200	89,000	100,200	217,600	189,500	199,400	241,600	170,100	242,900	276,800	249,900	247,900	282,600	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
(Purchases) of short-term investments — Trading
153,400	16,400	35,600	82,000	97,200	96,000	93,000	206,900	195,400	190,600	173,700	34,900	32,800	45,600	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from sales of short-term investments — Trading
41,700	78,900	120,400	128,700	257,300	212,000	175,600	147,500	18,100	14,100	11,100	23,300	26,100	36,300	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net change in (payable)/receivable for securities sold
-113,900	-5,500	-24,500	-11,300	108,500	-9,900	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net (purchases) of other investments
100,000	100,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-39,300	-37,300	-37,300	-37,300	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Non-controlling interest introductory capital
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Net (purchases) of equipment
22,900	27,300	29,100	30,300	33,100	35,000	34,700	22,800	28,800	23,700	19,200	26,400	13,100	13,900	23,100	21,900	34,400	26,100	19,600	20,000	13,700	16,300	14,200	17,700	16,200	24,000	28,200	27,900	32,600	29,900	26,600	26,200	22,100	17,900	0	0	0
Net (purchases)/sales of short-term investments Available for sale
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-341,200	-269,300	-78,800	122,700	196,300	308,200	248,400	13,300	-5,900	-123,900	-65,700	-91,800	0	0	0
Net (purchases) of short-term investments Trading
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net change in (payable)/receivable for securities (purchased)/sold
-	-	-	-	-	-	-	-	-	-	-	-	0	-	0	0	0	-	6,300	19,900	800	-900	-12,600	3,600	11,600	1,100	0	0	0	-	-	-	24,400	52,300	0	0	0
Proceeds from Sale of Equity Method Investments
-	-	-	-	-	9,300	9,300	9,300	9,300	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net (purchases) of investments, equity method
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments for acquisitions and investments, net of cash acquired
-	-	-	-	-	0	9,100	9,100	9,100	59,500	52,700	51,900	51,900	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	13,400	0	0	0
Net cash from investing activities
351,900	657,300	510,100	515,700	848,400	419,000	365,100	133,200	-275,600	-350,900	-705,700	-585,400	-736,400	-501,900	-328,300	-368,600	-387,800	-515,000	-410,300	-395,100	-381,500	-497,900	-423,200	-421,800	-289,400	-317,200	-129,300	-110,300	-152,000	-210,500	-269,700	-227,400	-270,100	18,400	0	0	0
Cash flows (used in) financing activities:
Proceeds from the issuance of ordinary shares, net of issuance costs
3,400	2,700	2,700	2,600	600	500	900	1,000	1,100	2,500	4,400	4,700	4,800	6,800	5,200	4,900	5,400	2,700	6,400	10,200	16,000	21,200	17,300	32,900	26,800	22,100	21,800	2,300	1,600	800	0	0	0	-	-	-	0
Ordinary shares canceled
100	0	0	0	0	-	-	-	-	75,000	50,000	43,500	72,200	83,700	143,700	233,700	186,500	180,900	135,600	100,400	130,300	309,600	0	0	0	-	-	-	-	8,100	207,900	209,500	209,500	407,800	0	0	0
Repayment of long-term debt issued by Silverton
79,400	125,000	-37,500	-50,400	-65,400	0	26,600	25,100	23,800	0	0	0	0	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Preference share redemption
-	-	-	-	-	293,200	293,200	133,200	133,200	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Dividends paid on ordinary shares
28,600	42,900	57,100	57,200	57,300	56,200	55,200	54,100	53,100	52,700	52,300	51,700	51,300	50,900	50,500	50,900	51,000	50,300	49,700	48,800	47,600	47,800	47,900	48,000	48,300	47,000	45,800	44,100	42,500	42,500	43,300	44,200	45,300	46,500	0	0	0
Dividends paid on preference shares
30,500	30,500	30,300	30,400	33,300	36,200	42,100	43,900	42,800	41,800	37,800	37,800	37,800	37,800	37,800	37,800	37,800	37,800	37,800	37,800	36,400	35,500	34,600	33,700	34,000	31,100	28,300	25,400	22,800	22,800	22,800	22,800	22,800	22,800	0	0	0
Cash paid for tax withholding purposes
3,300	4,700	4,700	4,900	6,000	9,600	9,500	9,100	1,100	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash (used in) financing activities
-245,300	-307,200	-301,200	-468,800	-336,300	-540,400	-465,000	-48,900	-45,900	90,000	116,200	-118,200	-153,600	-133,500	-224,700	-314,600	-264,900	-196,400	-126,200	-86,300	-67,400	-240,800	-330,600	-284,500	-174,000	35,700	50,200	54,000	-70,200	-72,700	-4,000	-6,500	-7,600	-207,600	0	0	0
Effect of exchange rate movements on cash and cash equivalents
-16,400	-16,700	-9,500	13,800	11,700	13,900	4,700	-1,200	-10,200	-18,000	-14,200	-18,000	-2,200	-17,800	-30,400	-17,500	-32,600	-11,100	13,800	11,600	5,100	2,300	-6,400	1,200	2,300	9,600	4,300	-17,900	-9,600	-300	-2,400	11,500	17,000	-4,400	0	0	0
(Decrease)/increase in cash and cash equivalents
-271,000	28,900	-182,700	-157,700	373,800	-219,000	26,000	189,600	-30,000	174,300	-13,400	-109,600	-322,800	-79,000	-92,400	-196,800	-217,800	-115,100	90,800	156,300	231,000	-170,000	-175,900	-120,100	39,400	224,500	335,400	234,900	56,400	60,000	124,500	348,000	415,500	430,700	0	0	0
Supplemental disclosure of cash flow information:
Net cash (received) during the period for income tax
-1,800	-300	8,800	11,200	1,700	3,400	6,600	7,000	7,500	7,000	6,600	10,200	13,100	8,800	-3,000	-6,200	-7,700	1,800	-6,400	11,000	-700	-6,300	11,900	-4,100	11,100	11,000	26,400	10,800	24,300	24,800	12,400	25,900	37,600	56,000	0	0	0
Cash paid during the period for interest
23,400	25,300	27,200	29,200	29,000	29,000	36,700	29,300	36,400	29,000	29,000	29,000	29,000	29,000	28,900	28,900	21,700	29,000	27,100	34,600	34,800	35,000	30,000	30,000	30,000	30,000	30,000	30,000	30,200	30,200	22,700	22,700	15,000	15,000	0	0	0