Amerisafe, inc. (AMSF)
CashFlow / TTM
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

84,090

92,690

77,482

75,797

74,863

71,632

53,475

50,351

48,876

46,231

64,655

65,974

67,132

77,865

81,865

81,909

79,589

70,462

64,254

59,793

58,247

53,666

54,244

50,464

45,335

43,637

35,420

32,842

28,643

29,353

28,200

25,963

27,112

24,181

0

0

0

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

948

942

932

957

1,015

996

972

943

940

984

1,057

1,116

1,157

1,181

1,202

1,255

1,302

1,348

1,370

1,358

1,302

1,298

1,290

1,283

1,310

1,300

1,281

1,234

1,172

1,112

1,036

1,008

1,011

1,015

0

0

0

Net amortization of investments

-8,386

-8,659

-8,893

-9,291

-9,983

-10,787

-11,614

-12,600

-13,397

-14,015

-14,756

-15,478

-15,921

-16,247

-16,435

-16,341

-16,495

-16,424

-16,202

-16,100

-15,502

-15,243

-15,134

-14,556

-14,187

-13,350

-12,199

-11,215

-10,562

-10,151

-9,605

-8,976

-7,845

-6,660

0

0

0

Change in investment related allowance for credit losses

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred income taxes

386

872

-3,053

-2,819

-1,721

-1,462

13,846

13,329

13,077

12,800

-1,375

-2,238

-2,611

-2,249

1,666

2,399

1,831

1,446

1,452

1,192

-542

-1,412

-1,714

-1,701

-228

-207

398

-970

-959

115

-5,086

-3,046

-63

-1,525

0

0

0

Net realized gains on investments

853

-80

-92

-417

-1,446

-1,536

-1,357

-1,220

-497

-647

-2,229

-1,871

-938

-509

983

857

-2,305

-2,494

-2,002

-2,194

655

697

891

389

-1,134

-1,211

-1,855

-216

1,212

2,979

4,381

3,908

3,916

2,228

0

0

0

Net unrealized (gains) losses on equity securities

-6,242

4,758

812

1,012

502

-2,088

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net realized losses on disposal of assets

-

-

-

-

-

-

-

-

-

-2

-2

-2

-2

-1

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Share-based compensation

2,546

2,351

1,873

1,792

2,612

2,065

1,809

1,863

1,620

2,018

1,743

1,796

1,788

1,603

1,675

1,587

1,095

1,223

1,222

1,476

1,320

1,519

1,377

1,163

1,677

1,409

1,230

1,073

823

641

541

447

448

471

0

0

0

Changes in operating assets and liabilities:
Premiums receivable, net

-5,183

-4,525

-7,976

-14,872

-12,488

-11,756

-6,872

-754

-4,478

-8,771

-15,490

-17,589

-5,909

-2,359

6,901

5,134

8,904

6,447

471

-2,012

-4,683

7,338

21,613

24,868

25,817

29,629

28,800

32,838

28,781

20,727

10,119

6,947

5,066

-1,395

0

0

0

Accrued interest receivable

-699

-467

-372

-372

-415

-438

-459

-749

-575

-725

-713

-441

-582

-325

-260

26

447

48

940

388

697

395

380

354

1,040

850

1,042

928

-35

872

631

1,575

1,552

1,816

0

0

0

Deferred policy acquisition costs

-714

-686

-985

-1,051

-854

-517

420

719

1,421

951

543

207

-356

-1,112

-726

-715

-569

763

73

-419

-300

478

-69

850

1,053

752

2,255

1,506

2,363

1,841

734

1,400

1,522

1,441

0

0

0

Amounts held by others

-

-

-

-

-

7,855

0

0

0

-

-

-

-

-1,016

-1,016

-1,017

26,831

27,847

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other assets

-1,942

-710

1,768

16

1,563

-1,873

-5,941

-960

-1,704

1,882

571

-487

-757

-1,631

2,259

-20

1,928

1,042

3,349

3,884

2,453

4,306

1,363

-1,447

-1,185

-1,566

-574

-2,683

1,659

-445

-1,228

3,683

1,656

2,008

0

0

0

Reserves for loss and loss adjustment expenses

-21,297

-25,522

-317

11,445

23,282

26,564

36,103

33,842

27,802

29,069

18,750

24,210

27,318

24,743

15,566

10,404

17,240

30,431

44,101

57,869

112,015

73,045

144,751

109,846

30,011

44,107

-44,799

-34,955

-29,029

-32,236

-31,994

-31,467

-16,817

-6,010

0

0

0

Unearned premiums

-8,855

-8,423

-10,532

-10,421

-9,946

-7,974

-653

1,415

1,169

-4,758

-9,953

-13,905

-6,050

-5,955

-497

-145

-2,189

-593

-2,179

-4,293

-5,386

4,280

13,710

19,522

21,968

23,768

22,212

23,015

25,531

21,829

16,352

13,252

10,747

7,205

0

0

0

Reinsurance balances

5,611

16,093

6,403

-4,728

-17,009

-21,873

-24,311

-14,814

-11,276

-6,495

17,857

10,046

9,332

7,285

-11,997

-4,247

-6,714

-5,878

-2,282

-5,434

-8,967

-10,326

-11,482

18,239

21,673

26,177

20,827

-4,157

1,267

-5,910

-4,389

-5,255

-4,668

140

0

0

0

Amounts held for others and policyholder deposits

-5,563

-5,528

2,706

3,100

3,380

2,911

4,286

4,073

4,156

4,168

-21,120

-19,884

-18,379

-17,066

7,496

9,026

8,766

6,621

7,449

7,310

8,703

11,190

15,803

-1,343

-817

238

-1,928

14,270

13,376

12,912

17,356

13,707

7,865

5,355

0

0

0

Accounts payable and other liabilities

-6,317

-5,023

-1,225

768

6,239

4,269

-4,010

123

-6,295

-2,382

2,133

-4,127

3,521

3,605

7,094

8,191

8,004

4,364

-322

-1,298

3,720

6,477

1,524

-9,969

-46

3,837

14,986

17,476

9,281

4,582

-1,408

15,831

7,600

263

0

0

0

Net cash provided by operating activities

73,760

78,824

90,003

100,853

105,878

98,268

99,226

126,996

119,682

130,810

133,671

98,649

107,672

114,212

113,005

123,119

90,848

92,859

100,612

106,584

142,743

140,684

132,189

129,914

137,668

129,159

121,758

98,583

84,746

81,048

72,991

80,961

61,334

43,709

0

0

0

Investing activities
Purchases of investments held-to-maturity

152,160

152,133

143,170

128,772

107,579

99,330

143,995

163,536

186,389

222,104

149,981

122,607

116,618

102,830

135,069

137,826

162,437

178,010

217,191

258,110

239,755

223,028

174,205

111,845

90,388

78,144

62,148

62,474

62,555

79,042

99,413

102,142

103,950

86,669

0

0

0

Purchases of investments available-for-sale

74,711

63,513

87,713

99,273

106,012

124,128

111,920

110,535

102,946

108,517

134,100

133,960

184,584

216,466

182,991

208,907

152,663

135,915

160,190

142,634

163,923

149,956

147,604

125,107

127,783

135,798

100,437

120,219

120,802

92,751

128,766

127,359

114,459

120,637

0

0

0

Purchases of equity securities

12,458

4,495

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of short-term investments

101,693

125,763

79,224

112,520

168,987

133,355

142,253

131,946

86,468

62,687

76,952

53,963

34,626

35,295

17,378

19,938

13,382

12,246

14,057

15,258

39,477

79,957

92,257

128,440

129,298

131,981

147,576

137,903

128,342

95,954

83,839

68,222

78,175

87,460

0

0

0

Proceeds from maturities of investments held-to-maturity

141,142

159,702

135,160

121,265

121,435

99,984

125,602

139,303

152,370

152,995

152,978

139,870

139,308

177,159

182,074

205,131

198,609

160,834

148,714

124,754

106,998

112,100

113,097

101,981

108,289

117,770

113,119

110,809

131,267

134,994

126,940

122,999

106,413

97,863

0

0

0

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

136,316

114,869

111,062

94,371

101,718

100,357

109,448

124,597

107,332

112,179

122,352

102,859

110,955

115,552

83,455

105,571

91,419

78,637

100,554

79,236

79,644

72,535

51,126

51,040

41,128

29,099

24,912

35,259

31,809

52,514

60,983

51,540

58,539

36,329

0

0

0

Proceeds from sales and maturities of short-term investments

123,039

84,039

163,939

150,079

149,824

139,865

103,755

72,255

74,770

72,400

22,617

24,143

13,162

13,040

12,525

9,285

13,570

37,833

48,732

93,037

110,445

128,043

132,709

121,000

115,009

112,978

109,666

97,109

101,196

72,105

77,158

86,653

97,915

118,759

0

0

0

Proceeds from redemptions of other investments

-

-

-

-

-

-

-

-

-

13,172

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of property and equipment

1,217

1,018

901

270

280

1,126

1,115

1,242

1,273

478

993

1,028

1,613

1,638

1,285

1,250

775

953

977

875

1,057

989

1,147

1,145

1,204

1,140

1,123

1,627

1,250

1,196

1,282

1,043

1,170

1,128

0

0

0

Net cash provided by (used in) investing activities

58,258

11,688

88,828

14,861

-22,014

-29,059

-62,430

-76,361

-39,934

-51,542

-62,578

-38,686

-72,016

-50,478

-58,669

-47,934

-25,659

-49,820

-94,415

-119,850

-147,125

-141,252

-118,281

-102,516

-94,247

-97,216

-73,587

-79,046

-48,677

-9,330

-48,219

-37,574

-34,887

-42,943

0

0

0

Financing activities
Proceeds from stock option exercises

-

20

19

20

18

67

0

0

0

-

-

-

-

837

1,404

1,511

1,741

1,844

2,131

2,381

2,631

2,674

2,567

2,346

2,089

2,344

0

0

0

-

-

-

-

3,339

0

0

0

Finance lease purchases

47

47

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Tax benefit from share-based payments

-

-

-

-

-

-

-

-

-

-

-

-

-

995

1,384

1,678

1,829

2,203

2,661

2,685

3,025

2,841

2,777

2,368

2,007

2,024

0

0

0

-

-

-

-

1,043

0

0

0

Purchase of treasury stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

10,268

0

0

0

Dividends to shareholders

87,343

87,016

86,270

85,641

85,048

84,491

83,917

83,493

83,097

82,645

77,346

76,936

76,536

76,111

70,411

69,808

69,200

68,561

29,634

29,029

28,403

37,068

17,486

16,718

15,951

5,910

0

0

0

-

-

-

-

-

-

-

-

Net cash used in financing activities

-87,390

-87,043

-86,285

-85,644

-85,041

-84,424

-83,850

-83,426

-83,029

-82,645

-77,327

-76,151

-75,593

-74,279

-67,623

-66,619

-65,630

-64,514

-24,842

-23,963

-22,747

-31,553

-12,142

-12,004

-11,855

-1,542

0

0

0

-

-

-

-

-16,196

0

0

0

Change in cash and cash equivalents

44,628

3,469

92,546

30,070

-1,177

-15,215

-47,054

-32,791

-3,281

-3,377

-6,234

-16,188

-39,937

-10,545

-13,287

8,566

-441

-21,475

-18,645

-37,229

-27,129

-32,121

1,766

15,394

31,566

30,401

47,433

6,576

11,519

47,140

405

14,804

11,573

-15,430

0

0

0