Amerisafe, inc. (AMSF)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11
Operating activities
Net income

10,800

34,014

21,386

17,890

19,400

18,806

19,701

16,956

16,169

649

16,577

15,481

13,524

19,073

17,896

16,639

24,257

23,073

17,940

14,319

15,130

16,865

13,479

12,773

10,549

17,443

9,699

7,644

8,851

9,226

7,121

3,445

9,561

8,073

4,884

4,594

6,630

Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation

247

258

235

208

241

248

260

266

222

224

231

263

266

297

290

304

290

318

343

351

336

340

331

295

332

332

324

322

322

313

277

260

262

237

249

263

266

Net amortization of investments

-2,074

-2,139

-2,037

-2,136

-2,347

-2,373

-2,435

-2,828

-3,151

-3,200

-3,421

-3,625

-3,769

-3,941

-4,143

-4,068

-4,095

-4,129

-4,049

-4,222

-4,024

-3,907

-3,947

-3,624

-3,765

-3,798

-3,369

-3,255

-2,928

-2,647

-2,385

-2,602

-2,517

-2,101

-1,756

-1,471

-1,332

Change in investment related allowance for credit losses

-26

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred income taxes

-481

1,075

323

-531

5

-2,850

557

567

264

12,458

40

315

-13

-1,717

-823

-58

349

2,198

-90

-626

-36

2,204

-350

-2,360

-906

1,902

-337

-887

-885

2,507

-1,705

-876

189

-2,694

335

2,107

-1,273

Net realized gains on investments

992

-53

-4

-82

59

-65

-329

-1,111

-31

114

-192

-388

-181

-1,468

166

545

248

24

40

-2,617

59

516

-152

232

101

710

-654

-1,291

24

66

985

137

1,791

1,468

512

145

103

Net unrealized (gains) losses on equity securities

-8,800

1,558

400

600

2,200

-2,388

600

90

-390

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net realized losses on disposal of assets

-

-

-

-

-

-

-

-

-

0

0

0

-2

0

0

0

-1

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Share-based compensation

760

1,469

373

-56

565

991

292

764

18

735

346

521

416

460

399

513

231

532

311

21

359

531

565

-135

558

389

351

379

290

210

194

129

108

110

100

130

131

Changes in operating assets and liabilities:
Premiums receivable, net

11,174

-12,696

-4,371

710

11,832

-16,147

-11,267

3,094

12,564

-11,263

-5,149

-630

8,271

-17,982

-7,248

11,050

11,821

-8,722

-9,015

14,820

9,364

-14,698

-11,498

12,149

21,385

-423

-8,243

13,098

25,197

-1,252

-4,205

9,041

17,143

-11,860

-7,377

7,160

10,682

Accrued interest receivable

488

-674

318

-831

720

-579

318

-874

697

-600

28

-700

547

-588

300

-841

804

-523

586

-420

405

369

34

-111

103

354

8

575

-87

546

-106

-388

820

305

838

-411

1,084

Deferred policy acquisition costs

671

-1,293

-209

117

699

-1,592

-275

314

1,036

-655

24

1,016

566

-1,063

-312

453

-190

-677

-301

599

1,142

-1,367

-793

718

1,920

-1,914

126

921

1,619

-411

-623

1,778

1,097

-1,518

43

1,900

1,016

Amounts held by others

-

-

-

-

-

0

0

0

7,855

-

-

-

-

0

0

1

-1,017

0

-1

27,849

-1

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other assets

-234

-1,659

2

-51

998

819

-1,750

1,496

-2,438

-3,249

3,231

752

1,148

-4,560

2,173

482

274

-670

-106

2,430

-612

1,637

429

999

1,241

-1,306

-2,381

1,261

860

-314

-4,490

5,603

-1,244

-1,097

421

3,576

-892

Reserves for loss and loss adjustment expenses

6,396

-17,925

-4,234

-5,534

2,171

7,280

7,528

6,303

5,453

16,819

5,267

263

6,720

6,500

10,727

3,371

4,145

-2,677

5,565

10,207

17,336

10,993

19,333

64,353

-21,634

82,699

-15,572

-15,482

-7,538

-6,207

-5,728

-9,556

-10,745

-5,965

-5,201

5,094

62

Unearned premiums

5,298

-13,762

-2,254

1,863

5,730

-15,871

-2,143

2,338

7,702

-8,550

-75

2,092

1,775

-13,745

-4,027

9,947

1,870

-8,287

-3,675

7,903

3,466

-9,873

-5,789

6,810

13,132

-443

23

9,256

14,932

-1,999

826

11,772

11,230

-7,476

-2,274

9,267

7,688

Reinsurance balances

-9,658

6,953

823

7,493

824

-2,737

-10,308

-4,788

-4,040

-5,175

-811

-1,250

741

19,177

-8,622

-1,964

-1,306

-105

-872

-4,431

-470

3,491

-4,024

-7,964

-1,829

2,335

25,697

-4,530

2,675

-3,015

713

894

-4,502

-1,494

-153

1,481

306

Amounts held for others and policyholder deposits

836

-7,944

440

1,105

871

290

834

1,385

402

1,665

621

1,468

414

-23,623

1,857

2,973

1,727

939

3,387

2,713

-418

1,767

3,248

4,106

2,069

6,380

-13,898

4,632

3,124

4,214

2,300

3,738

2,660

8,658

-1,349

-2,104

150

Accounts payable and other liabilities

3,294

-4,714

-120

-4,777

4,588

-916

1,873

694

2,618

-9,195

6,006

-5,724

6,531

-4,680

-254

1,924

6,615

-1,191

843

1,737

2,975

-5,877

-133

6,755

5,732

-10,830

-11,626

16,678

9,615

319

-9,136

8,483

4,916

-5,671

8,103

252

-2,421

Net cash provided by operating activities

15,212

16,346

22,909

19,293

20,276

27,525

33,759

24,318

12,666

28,483

61,529

17,004

23,794

31,344

26,507

26,027

30,334

30,137

36,621

-6,244

32,345

37,890

42,593

29,915

30,286

29,395

40,318

37,669

21,777

21,994

17,143

23,832

18,079

13,937

25,113

4,205

454

Investing activities
Purchases of investments held-to-maturity

26,201

36,421

48,141

41,397

26,174

27,458

33,743

20,204

17,925

72,123

53,284

43,057

53,640

0

25,910

37,068

39,852

32,239

28,667

61,679

55,425

71,420

69,586

43,324

38,698

22,597

7,226

21,867

26,454

6,601

7,552

21,948

42,941

26,972

10,281

23,756

25,660

Purchases of investments available-for-sale

21,592

17,409

18,748

16,962

10,394

41,609

30,308

23,701

28,510

29,401

28,923

16,112

34,081

54,984

28,783

66,736

65,963

21,509

54,699

10,492

49,215

45,784

37,143

31,781

35,248

43,432

14,646

34,457

43,263

8,071

34,428

35,040

15,212

44,086

33,021

22,140

21,390

Purchases of equity securities

8,770

375

1,500

1,813

807

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of short-term investments

40,250

46,539

0

14,904

64,320

0

33,296

71,371

28,688

8,898

22,989

25,893

4,907

23,163

0

6,556

5,576

5,246

2,560

0

4,440

7,057

3,761

24,219

44,920

19,357

39,944

25,077

47,603

34,952

30,271

15,516

15,215

22,837

14,654

25,469

24,500

Proceeds from maturities of investments held-to-maturity

22,018

39,204

46,633

33,287

40,578

14,662

32,738

33,457

19,127

40,280

46,439

46,524

19,752

40,263

33,331

45,962

57,603

45,178

56,388

39,440

19,828

33,058

32,428

21,684

24,930

34,055

21,312

27,992

34,411

29,404

19,002

48,450

38,138

21,350

15,061

31,864

29,588

Proceeds from sales and maturities of investments available-for-sale

47,812

24,625

29,750

34,129

26,365

20,818

13,059

41,476

25,004

29,909

28,208

24,211

29,851

40,082

8,715

32,307

34,448

7,985

30,831

18,155

21,666

29,902

9,513

18,563

14,557

8,493

9,427

8,651

2,528

4,306

19,774

5,201

23,233

12,775

10,331

12,200

1,023

Proceeds from sales and maturities of short-term investments

52,959

11,000

49,360

9,720

13,959

90,900

35,500

9,465

4,000

54,790

4,000

11,980

1,630

5,007

5,526

999

1,508

4,492

2,286

5,284

25,771

15,391

46,591

22,692

43,369

20,057

34,882

16,701

41,338

16,745

22,325

20,788

12,247

21,798

31,820

32,050

33,091

Proceeds from redemptions of other investments

-

-

-

-

-

-

-

-

-

4,172

3,000

4,000

2,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of property and equipment

221

160

710

126

22

43

79

136

868

32

206

167

73

547

241

752

98

194

206

277

276

218

104

459

208

376

102

518

144

359

606

141

90

445

367

268

48

Net cash provided by (used in) investing activities

25,755

-26,075

56,644

1,934

-20,815

51,065

-17,323

-34,941

-27,860

17,694

-31,254

1,486

-39,468

6,658

-7,362

-31,844

-17,930

-1,533

3,373

-9,569

-42,091

-46,128

-22,062

-36,844

-36,218

-23,157

-6,297

-28,575

-39,187

472

-11,756

1,794

160

-38,417

-1,111

4,481

-7,896

Financing activities
Proceeds from stock option exercises

-

0

-0

0

19

0

-0

-1

68

-

-

-

-

0

336

47

454

567

443

277

557

854

693

527

600

747

472

270

855

-

-

-

-

1,346

0

837

1,156

Finance lease purchases

12

12

12

11

12

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Tax benefit from share-based payments

-

-

-

-

-

-

-

-

-

-

-

-

-

19

430

111

435

408

724

262

809

866

748

602

625

802

339

241

642

-

-

-

-

342

1

319

381

Purchase of treasury stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

612

6,797

0

2,859

Dividends to shareholders

5,245

72,316

4,917

4,865

4,918

71,570

4,288

4,272

4,361

70,996

3,864

3,876

3,909

65,697

3,454

3,476

3,484

59,997

2,851

2,868

2,845

21,070

2,246

2,242

11,510

1,488

1,478

1,475

1,469

-

-

-

-

-

-

-

-

Net cash used in financing activities

-5,257

-72,328

-4,929

-4,876

-4,910

-71,570

-4,288

-4,273

-4,293

-70,996

-3,864

-3,876

-3,909

-65,678

-2,688

-3,318

-2,595

-59,022

-1,684

-2,329

-1,479

-19,350

-805

-1,113

-10,285

61

-667

-964

28

-

-

-

-

1,076

-17,106

1,156

-1,322

Change in cash and cash equivalents

35,710

-82,057

74,624

16,351

-5,449

7,020

12,148

-14,896

-19,487

-24,819

26,411

14,614

-19,583

-27,676

16,457

-9,135

9,809

-30,418

38,310

-18,142

-11,225

-27,588

19,726

-8,042

-16,217

6,299

33,354

8,130

-17,382

23,331

-7,503

13,073

18,239

-23,404

6,896

9,842

-8,764