ARGO GROUP INTERNATIONAL HOLDINGS, LTD. ARGO Cash Flow

Argo group international holdings, ltd. (ARGO)

CashFlow / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	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 from operating activities:
Net income
-18,800	-103,300	-25,100	28,800	91,200	-43,600	40,600	41,800	24,800	28,900	-61,300	46,000	36,700	32,900	55,200	30,900	27,700	41,200	35,300	27,900	58,800	59,700	44,700	38,600	40,200	47,800	31,000	31,700	32,700	-4,700	13,400	24,000	19,600	1,400	-10,800	21,600	-94,100	16,900	23,000	26,100	20,700
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Amortization and depreciation
5,000	6,900	6,600	7,100	6,700	8,800	9,300	7,700	6,100	9,400	8,500	7,600	8,300	8,000	9,600	7,800	10,000	8,000	11,100	10,700	8,900	9,400	9,800	7,600	10,400	10,800	10,100	9,000	9,700	8,700	11,600	7,900	8,400	9,000	8,800	7,000	6,000	6,800	8,600	8,000	7,800
Share-based payments expense
2,900	5,200	2,900	4,200	4,600	3,900	3,400	5,800	5,200	1,100	3,600	2,700	4,900	8,700	5,500	2,600	3,000	8,300	7,900	7,700	5,200	6,300	2,100	6,800	4,400	5,500	3,200	6,000	8,600	2,600	3,900	1,400	2,600	2,100	1,100	800	600	3,400	2,400	1,900	2,400
Excess tax benefit from share-based payment arrangements
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	500	100	0	0	100	-100	100	-	-	-	0	-	-	-	0	-	-	-	-	-	-	-	-
Deferred income tax (benefit) provision, net
-19,800	-24,300	-5,400	-2,100	5,300	-5,200	-500	-3,200	-3,700	-11,500	-1,700	-10,700	6,000	-3,400	-3,800	2,200	3,900	-5,500	12,200	-2,200	3,800	4,700	18,600	3,200	1,100	-600	-1,600	3,000	3,000	2,400	-1,400	-900	4,900	-100	4,200	8,400	-2,300	900	-4,500	-1,100	900
Amortization of debt extinguishment costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	100	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Realized Investment Gains (Losses)
-36,100	21,700	-6,200	12,000	52,500	-81,000	14,200	10,500	-15,700	14,200	6,000	4,500	14,600	13,300	17,700	-2,100	-2,800	3,700	6,600	2,700	11,100	32,000	12,900	18,500	11,100	41,700	9,100	11,000	9,500	-44,400	8,300	23,500	-13,100	11,500	3,900	31,500	2,300	7,800	9,100	5,000	14,500
Undistributed earnings from alternative investment portfolio
-2,500	-500	-8,000	-9,500	-1,900	900	-6,800	-5,200	-8,700	-10,900	-5,700	-24,600	-8,300	-3,100	-9,900	-12,500	1,600	1,600	2,900	-2,600	-4,900	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on disposals of long-lived assets, net
-200	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on disposals of long-lived assets, net
-	-	-	-	-	-	-	-	-	-700	300	100	-1,800	300	-100	0	-100	0	0	0	-200	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of debt issuance costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	100	-	0	0	100	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in:
Accrued investment income
-2,500	-2,000	1,000	-800	300	800	1,500	500	700	0	600	1,200	900	-1,200	1,200	-600	-300	600	400	-300	-1,200	100	-2,000	200	-1,700	-300	-2,100	500	-3,400	1,500	-2,100	-3,400	2,000	800	-1,200	1,200	-2,000	1,600	-2,100	2,400	800
Receivables
-217,600	177,800	120,700	163,700	-1,800	409,000	95,200	54,200	-900	-88,200	587,000	126,700	-22,800	62,500	70,200	113,800	71,500	20,400	41,800	107,900	12,500	-42,600	-45,100	92,000	-261,000	-90,200	-14,200	94,800	-77,100	9,700	10,900	-181,800	136,300	1,000	17,200	84,200	-156,000	-57,100	-15,900	31,000	-213,800
Deferred acquisition costs
-1,100	500	-4,000	-4,000	500	-7,900	13,700	-1,000	2,500	-8,200	5,900	7,700	6,100	-8,500	3,100	7,900	3,900	-9,100	2,600	9,600	5,400	-5,700	4,400	8,600	0	-1,400	3,500	11,600	400	-8,300	3,000	3,800	-600	-10,600	3,000	400	-5,700	-13,700	-6,200	-8,700	-10,500
Ceded unearned premiums
111,500	-59,300	10,900	31,300	104,900	-67,000	27,200	-6,400	93,800	-61,600	24,800	-2,100	43,100	-8,600	-500	3,600	56,700	-12,600	2,500	5,000	51,000	-18,800	-16,100	-7,900	55,200	-34,500	-8,700	9,900	37,300	-19,400	-1,800	75,300	-39,600	-48,300	31,800	31,300	600	-19,900	-11,000	1,900	-4,700
Reserves for losses and loss adjustment expenses
-78,800	314,100	111,700	68,000	15,200	357,500	51,900	-28,400	-42,700	-102,600	671,100	62,100	23,300	66,000	103,200	36,400	14,600	18,400	34,800	43,300	-2,200	-14,300	-22,300	37,100	-182,500	-10,300	-10,700	29,900	-17,800	-4,300	4,200	-41,900	-36,900	-58,500	-6,500	6,900	197,000	-78,100	15,500	-17,100	28,600
Unearned premiums
59,200	-86,000	94,700	59,100	43,900	-103,000	112,400	19,300	47,700	-77,000	109,200	46,000	7,300	-40,200	53,800	46,800	19,700	-46,500	40,300	69,600	13,100	-48,500	29,000	55,300	3,300	-67,400	37,500	74,200	7,100	-56,800	56,300	69,300	3,800	-65,200	58,700	27,000	-16,400	-95,600	-3,500	-10,300	-40,100
Ceded reinsurance payable and funds held
-96,000	41,700	124,500	4,500	75,800	75,200	71,100	-53,700	133,900	-90,900	122,700	93,600	-36,600	25,300	-10,200	31,000	107,500	22,900	46,900	59,500	27,900	-4,400	-17,600	-135,500	-6,400	-58,100	4,200	-59,300	-133,200	-4,100	19,400	7,400	-90,200	-3,600	35,300	77,200	-206,300	36,100	-3,100	18,900	-232,700
Income taxes
16,300	1,000	3,500	1,200	3,200	-14,900	-6,100	11,300	3,600	-12,400	-2,400	5,400	500	200	10,600	6,700	2,400	5,600	-11,000	1,000	7,700	15,600	-22,100	2,300	-15,500	19,300	-6,300	4,700	-700	8,400	300	-5,400	-5,000	3,700	-1,100	-2,500	-6,800	-1,200	-2,400	-2,200	8,800
Accrued underwriting expenses and other liabilities
-30,200	-13,900	-4,300	6,100	6,700	24,400	-70,800	50,200	106,400	19,000	-20,800	-2,500	-19,200	8,500	-3,800	-14,800	-8,800	-4,900	12,000	-12,800	-18,900	7,600	7,200	-9,800	6,700	-31,600	19,600	5,800	2,200	7,800	9,000	1,000	3,200	-9,700	10,400	9,600	-16,100	-6,500	9,900	-30,000	4,200
Sale of trading investment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	2,100
Other, net
14,700	37,400	-22,000	25,800	38,700	-19,900	-52,400	15,500	38,600	-15,000	-16,500	13,300	19,700	13,900	-600	34,200	1,400	-800	-3,200	10,200	-6,800	-3,600	0	-38,600	14,400	-2,700	6,200	-10,600	28,900	4,700	6,600	800	-1,400	-600	-8,500	-200	28,000	-3,600	-3,700	-31,500	57,000
Cash provided by (used in) operating activities
-31,400	-12,400	200,600	-60,500	55,600	70,300	105,100	-27,700	153,600	-87,400	215,100	74,200	-36,900	31,200	119,200	-19,800	51,400	47,400	141,200	67,100	27,500	58,800	95,200	-67,100	43,600	2,800	93,200	-12,200	-84,000	-33,000	91,900	-22,400	-6,000	-73,900	54,200	7,600	-5,600	-32,600	75,800	-5,700	-40,600
Cash flows from investing activities:
Sales of fixed maturity investments
594,100	348,000	294,700	516,100	235,500	100,500	276,600	412,800	469,200	363,600	283,900	402,200	383,600	376,600	229,800	227,900	304,100	177,700	45,700	164,800	399,300	220,300	326,600	314,600	243,400	487,400	433,300	449,400	425,300	230,900	159,100	327,100	400,700	305,900	353,600	328,600	338,800	169,300	297,400	525,600	845,100
Maturities and mandatory calls of fixed maturity investments
158,200	230,000	123,400	103,000	65,800	43,500	86,400	143,900	144,800	185,100	158,100	153,000	182,100	163,700	165,700	540,100	133,200	206,500	254,800	240,600	142,000	79,400	86,800	78,400	78,400	57,600	13,300	95,800	115,100	118,100	159,000	99,400	106,500	154,200	93,500	82,000	121,200	214,800	104,900	100,700	118,900
Sales of equity securities
24,800	308,400	34,100	17,200	15,000	73,900	60,100	53,200	51,700	61,100	32,500	54,100	53,400	53,000	62,300	18,400	74,600	60,400	28,000	18,900	14,700	62,100	5,100	41,800	14,900	98,400	25,600	33,800	5,600	1,300	3,600	3,700	1,800	11,500	2,700	19,600	7,500	7,900	7,600	10,700	29,100
Sales of other investments
19,200	15,400	36,600	9,100	22,000	8,200	55,500	3,600	34,500	27,200	3,200	48,100	17,000	4,700	86,600	3,500	2,000	1,000	11,200	37,200	9,000	3,500	12,100	12,600	5,000	1,700	0	500	5,300	0	200	0	2,300	100	1,300	100	1,000	600	0	0	100
Purchases of fixed maturity investments
831,100	324,100	646,500	529,600	358,900	149,000	549,500	621,000	616,500	547,200	535,200	780,100	601,600	486,600	531,700	729,500	389,500	539,400	395,800	393,100	514,500	334,200	478,400	428,500	290,400	558,200	431,600	455,100	378,000	354,200	365,500	336,300	445,500	406,500	415,300	402,000	381,800	293,400	318,100	531,000	1,028,700
Purchases of equity securities
12,200	11,300	17,500	20,300	12,100	14,500	42,700	53,200	60,100	39,600	50,600	34,000	33,500	32,200	55,100	23,800	35,800	16,200	49,900	28,100	19,900	38,100	4,800	5,400	7,500	8,600	7,000	26,100	38,300	13,000	17,800	18,400	55,200	24,100	15,200	53,400	6,900	58,600	4,100	-900	13,500
Purchases of other investments
5,900	9,100	16,400	25,000	13,200	8,400	10,900	12,400	10,900	13,800	8,400	7,500	9,300	6,000	13,200	43,800	33,300	10,000	5,500	38,900	22,800	99,700	15,400	25,000	9,400	1,700	42,400	2,300	26,500	2,900	1,500	3,500	7,700	21,300	300	50,200	1,400	6,800	2,300	15,000	200
Change in foreign regulatory deposits and voluntary pools
-3,900	2,300	4,000	-6,600	300	400	-300	-8,000	-5,100	-20,000	17,700	4,300	5,200	6,100	-2,100	-3,800	1,100	4,000	-700	-5,700	-1,100	1,300	-900	-30,600	9,000	8,300	100	-1,900	1,200	800	7,200	14,300	-1,300	-5,700	200	2,900	10,100	6,800	10,900	-5,600	8,800
Change in short-term investments
-112,300	490,400	67,700	-29,400	-38,300	85,000	-33,500	-85,400	166,100	-15,300	18,500	-184,400	-125,500	115,200	65,000	-41,100	54,800	-116,000	22,400	51,200	-3,700	-91,800	45,400	-73,800	44,900	69,200	26,900	44,000	5,200	-137,500	75,600	19,600	-16,400	-56,600	-28,900	-8,400	16,300	-68,900	82,600	93,900	-170,600
Settlements of foreign currency exchange forward contracts
3,100	1,500	-11,100	6,300	3,600	-3,500	-300	600	1,700	-2,900	-500	3,300	-2,800	1,800	-14,000	10,700	-3,900	-3,400	-2,100	-2,400	-2,200	-1,700	500	1,500	-1,400	2,500	-3,700	-800	-1,900	-200	1,400	-200	-600	-1,300	9,000	0	0	-	-	-	-
Payments to Acquire Businesses, Net of Cash Acquired
-	-	-	-	-	-	-	-	-	0	0	22,100	83,100	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchases of fixed assets
2,300	7,000	7,200	8,400	7,300	-3,600	24,800	4,600	6,400	10,200	10,400	5,100	4,900	5,400	4,000	15,900	6,800	-3,100	7,600	-3,400	17,800	12,300	7,800	12,900	6,000	7,000	6,100	8,800	4,200	7,200	7,700	10,000	9,200	5,700	5,100	4,000	1,700	3,400	4,600	3,300	3,900
Other, net
2,800	42,700	-52,100	2,400	20,100	3,900	-20,300	25,600	-8,900	13,900	-12,100	31,300	-3,600	10,000	-32,800	-13,300	14,200	9,300	1,200	-9,100	-9,500	4,400	6,400	-3,000	18,100	-27,000	-4,900	-900	1,300	2,600	-3,000	-4,000	4,300	3,600	12,800	-15,700	1,700	2,900	19,300	-30,700	13,400
Cash flows from financing activities:
Cash used in investing activities
61,300	16,400	-229,500	102,000	-31,700	-35,000	-95,500	-9,300	-128,500	44,700	-151,500	-39,300	24,800	-61,700	-103,700	45,800	-25,500	-17,600	-144,100	-34,000	2,100	-34,600	-126,200	84,500	-45,000	21,600	-40,700	45,200	94,700	109,500	-151,600	31,900	6,500	72,000	39,600	-58,100	48,600	89,600	-32,000	31,000	95,300
Additional long-term borrowings
-	-	-	-	-	-	-	-	-	0	0	0	125,000	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Activity under stock incentive plans
300	500	500	600	300	600	800	0	200	500	400	300	200	400	400	-100	300	-	-	-	900	1,300	1,000	1,500	800	1,200	-100	200	1,300	500	500	200	0	200	200	200	500	2,700	700	500	400
Repurchase of Company's common shares
-	-	-	-	-	1,700	10,600	800	18,600	8,600	33,800	2,800	0	1,800	5,300	21,000	19,000	0	4,800	7,900	17,000	9,900	9,700	27,500	3,700	6,400	9,200	18,000	12,900	5,600	10,800	18,500	9,300	13,600	14,800	2,900	18,200	39,000	29,500	6,700	30,000
Excess tax benefit from share-based payment arrangements
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	500	100	0	0	100	-100	100	-	-	-	0	-	-	-	0	-	-	-	-	-	-	-	-
Payment of cash dividends to common shareholders
10,700	10,600	9,800	11,900	10,800	9,500	9,300	9,400	9,300	8,300	8,300	8,300	8,300	6,800	6,700	6,900	6,200	5,600	5,900	5,500	5,700	4,800	4,700	4,700	4,000	4,000	4,000	4,100	3,700	3,000	3,100	3,100	3,100	3,100	3,300	3,300	3,400	3,400	3,500	3,600	3,700
Cash (used in) provided by financing activities
-10,400	-10,100	-9,900	-11,300	-10,500	-10,600	-19,100	-10,200	-27,700	-16,400	-41,700	-10,800	116,900	-8,200	-11,600	-28,000	-24,900	-5,900	-7,300	-15,700	-21,700	-13,400	-31,400	-30,800	-6,800	-9,200	-13,100	-21,900	-15,300	-125,800	125,800	-21,400	-12,400	-16,500	-18,000	-6,000	-21,100	-39,700	-47,400	5,000	-33,300
Effect of exchange rate changes on cash
1,400	-1,200	1,600	-600	100	-4,000	1,300	200	-300	-100	-600	-300	-100	1,100	-900	-300	200	1,600	-100	0	200	-2,900	-700	100	300	600	200	-300	0	600	800	-1,600	300	1,300	-5,000	100	0	-	-	-	-
Change in cash
20,900	-7,300	-37,200	29,600	13,500	20,700	-8,200	-47,000	-2,900	-59,200	21,300	23,800	104,700	-37,600	3,000	-2,300	1,200	25,500	-10,300	17,400	8,100	7,900	-63,100	-13,300	-7,900	15,800	39,600	10,800	-4,600	-48,700	66,900	-13,500	-11,600	-17,100	70,800	-56,400	21,900	17,300	-3,600	30,300	21,400
Ariscom [Member]
Cash acquired with acquisition of Ariscom
-	-	-	-	-	-	-	0	15,600	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-