AXIS CAPITAL HOLDINGS LTD AXS Cash Flow

Axis capital holdings ltd (AXS)

CashFlow / Yearly

Dec'19	Dec'18	Dec'17	Dec'16	Dec'15	Dec'14	Dec'13	Dec'12	Dec'11	Dec'10	Dec'09	Dec'08
Net income (loss)
323,473	43,021	-368,969	513,368	641,631	804,564	727,465	547,241	46,305	856,723	497,886	387,376
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Net investment (gains) losses
91,233	-144,297	28,226	-60,525	-138,491	132,108	75,564	127,469	121,439	195,098	-311,584	-85,267
Loss on insurance derivative contract
-	-	-	-	-	-	-	-	-	-	132,595	41,493
Settlement of insurance derivative contract
-	-	-	-	-	-	-	-	-	-	200,000	0
Net realized and unrealized (gains) losses on other investments
60,038	45,153	72,763	38,669	20,148	57,621	128,814	87,623	31,013	63,627	82,042	-226,509
Amortization of fixed maturities
-18,499	-24,663	-43,292	-65,921	-97,223	-113,879	-139,667	-135,297	93,356	61,122	19,334	-25,169
Interest in (income) loss of equity method investments
9,718	-495	-8,402	-2,094	0	0	-	-	-	-	-	-
Amortization of value of business acquired
26,722	172,332	50,104	0	-	-	-	-	-	-	-	-
Other amortization and depreciation
75,229	9,795	31,367	24,573	26,341	24,970	23,272	13,821	16,905	14,104	14,734	11,315
Share-based compensation expense, net of cash payments
32,491	34,346	12,667	52,211	43,052	63,237	57,168	67,912	39,134	36,695	48,217	66,880
Non-cash foreign exchange losses (gains)
6,043	0	-24,149	0	0	-	-	-	-	-	-	-
Business Combination, Bargain Purchase, Gain Recognized, Amount
0	0	15,044	0	0	-	-	-	-	-	-	-
Changes in:
Accrued interest receivable
-2,140	3,184	4,353	885	-8,908	-13,788	-88	-1,126	1,982	6,805	10,327	-8,106
Reinsurance recoverable balances on unpaid and paid losses
412,076	766,690	131,160	176,532	214,992	16,204	66,169	93,490	192,782	153,375	45,542	21,737
Deferred acquisition costs
-74,331	98,329	35,076	-33,212	4,744	11,026	66,874	-18,279	48,227	56,980	29,224	-3,705
Prepaid reinsurance premiums
88,789	212,654	56,377	158,809	46,955	25,185	14,585	77,053	17,227	-80,489	22,332	36,613
Reserve for losses and loss expenses
467,428	442,839	1,004,578	54,476	151,011	46,903	523,409	-633,686	-1,392,670	-468,242	-319,350	-657,472
Unearned premiums
-7,958	29,760	-56,603	198,938	29,841	58,376	229,157	230	120,786	124,279	46,996	16,314
Insurance and reinsurance balances, net
51,075	-208,783	81,831	209,895	74,578	102,593	250,463	-3,218	28,562	59,017	136,081	2,866
Other items
94,379	-26,452	64,928	13,804	-16,119	-81,202	789	-85,442	77,782	-81,025	15,292	-51,603
Net cash used in operating activities
199,004	10,773	259,229	406,724	791,200	862,182	1,096,968	1,120,617	1,190,142	1,187,777	849,856	1,525,725
Cash flows from investing activities:
Purchases of:
Fixed maturities
9,994,025	8,464,140	8,714,990	9,176,728	11,011,979	12,047,004	12,230,274	13,513,143	15,472,001	12,429,332	10,855,161	9,497,227
Equity securities
58,022	73,107	106,136	302,554	356,617	564,562	240,926	377,749	603,746	257,674	146,240	313,141
Mortgage loans
194,020	106,171	31,077	148,450	206,191	0	0	-	-	-	-	-
Other investments
218,178	180,126	153,150	190,370	83,561	75,542	166,835	110,084	220,000	65,000	111,800	141,000
Payments to Acquire Equity Method Investments
0	0	1,000	107,913	0	0	-	-	-	-	-	-
Short-term investments
179,230	305,670	41,609	190,747	80,069	669,494	198,168	383,981	841,124	578,762	788,878	788,970
Proceeds from the sale of:
Proceeds from the sale of:
Fixed maturities
8,018,658	7,586,536	7,004,973	7,905,316	9,432,226	10,799,112	10,261,256	11,144,351	13,754,436	10,622,948	8,332,724	8,505,278
Equity securities
36,016	246,196	448,058	305,642	275,357	740,900	323,423	468,473	222,506	126,076	85,319	82,616
Other investments
249,129	361,030	260,943	215,578	252,418	213,508	93,277	53,590	70,988	179,607	115,649	71,702
Short-term investments
266,057	178,983	49,280	54,165	125,311	526,460	197,690	354,924	710,178	423,451	572,596	380,411
Proceeds from redemption of fixed maturities
1,282,796	1,241,214	2,009,982	1,492,588	1,407,806	1,086,244	1,407,676	1,456,553	1,422,171	1,236,076	955,565	876,977
Proceeds from redemption of short-term investments
19,366	45,831	119,427	36,546	23,687	80,474	61,715	69,751	151,216	113,074	355,479	264,613
Proceeds from the repayment of mortgage loans
60,244	133,081	56,435	5,040	0	0	-	-	-	-	-	-
Purchase of other assets
63,106	25,103	42,685	27,149	33,683	20,857	24,304	35,322	42,193	17,854	41,776	11,284
Change in restricted cash and cash equivalents
-	-	-	-	-29,598	223,315	-26,183	-10,256	-14,851	40,400	-47,652	63,288
Purchase of subsidiaries, net
0	0	466,941	0	0	-	-	-	-	-	-	-
Net cash provided by (used in) investing activities
-774,315	638,554	391,510	-129,036	-225,697	-154,076	-489,287	-862,381	-832,718	-687,790	-1,478,871	-633,313
Cash flows from financing activities:
Net proceeds from issuance of debt
717,509	0	346,362	0	0	494,344	0	0	-	494,870	0	0
Maturities of Senior Debt
250,000	0	67,242	0	0	500,000	0	0	-	-	-	-
Net proceeds from issuance of preferred shares
-	-	-	531,945	0	0	218,449	393,544	0	0	-	-
Impact of the deconsolidation of a variable interest entity
-	-	-	-	-	-	0	-	-	-	-	-
Payments for Repurchase of Common Stock
0	0	261,180	495,426	314,204	543,202	472,263	317,687	65,885	709,583	175,909	291,003
Taxes paid on withholding shares
10,165	10,080	24,678	14,329	18,048	-	-	-	-	-	-	-
Dividends paid - common shares
137,209	133,502	135,032	132,323	118,652	117,619	118,426	120,487	206,455	108,302	112,984	106,368
Repurchase of preferred shares
0	0	351,074	51,769	0	0	100,000	404,073	0	0	-	-
Dividends paid - preferred shares
42,625	42,625	52,844	39,909	40,088	40,088	39,193	38,228	36,875	36,875	36,875	36,875
Proceeds from issuance of common shares
-	-	-	224	3,986	5,550	20,339	5,120	6,735	8,229	3,844	26,117
Sales of shares to noncontrolling interests
-	-	-	-	-	25,000	50,000	0	0	-	-	-
Return of capital to noncontrolling interests
-	-	-	-	-	10,000	0	0	-	-	-	-
Net cash used in financing activities
277,510	-186,207	-545,688	-201,587	-487,006	-686,015	-441,094	-481,811	-302,480	-351,661	-321,924	-408,129
Effect of exchange rate changes on foreign currency cash, cash equivalents and restricted cash
44,238	3,114	17,228	-9,345	-12,194	-23,587	-3,078	1,543	-2,610	-7,425	41,972	-59,819
Decrease in cash, cash equivalents and restricted cash
-253,563	466,234	122,279	66,756	66,303	-1,496	163,509	-222,032	52,334	140,901	-908,967	424,464
Supplemental disclosures of cash flow information:
Income taxes paid
39,949	15,698	0	12,041	12,661	7,654	22,472	10,897	23,853	37,688	16,085	30,099
Interest paid
59,563	64,822	49,945	48,875	48,875	68,850	58,125	58,125	58,125	48,986	28,750	28,750