AXIS CAPITAL HOLDINGS LTD AXS Cash Flow

Axis capital holdings ltd (AXS)

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
Net income (loss)
-177,827	-754	38,399	177,047	108,781	-187,791	54,093	103,517	73,202	-27,428	-457,083	95,687	19,855	148,908	186,614	129,460	48,386	144,793	257,641	73,372	165,825	170,871	282,964	202,258	148,471	181,549	150,636	83,723	311,557	-9,810	232,146	189,068	135,837	89,283	221,276	110,287	-374,541	273,562	248,059	214,071	121,031
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Net investment (gains) losses
-62,877	42,711	14,526	21,229	12,767	-72,498	-17,797	-45,093	-8,909	43,037	14,632	-4,393	-25,050	-20,230	5,205	21,008	-66,508	-14,873	-69,956	-11,109	-42,553	10,779	77,447	33,262	10,620	19,560	-4,709	16,235	44,478	31,770	50,803	30,405	14,491	-3,738	57,556	37,477	30,144	77,773	76,530	24,619	16,176
Net realized and unrealized (gains) losses on other investments
-2,119	10,767	11,143	31,600	6,528	3,229	15,048	13,926	12,950	16,004	16,533	22,015	18,211	15,552	37,523	12,771	-27,177	2,532	-27,421	14,102	30,935	11,753	-3,384	32,493	16,759	41,408	32,127	11,848	43,431	15,303	34,241	-2,341	40,420	25,123	-30,652	11,511	25,031	25,151	24,196	-1,985	16,265
Amortization of fixed maturities
-6,359	-4,883	-5,024	-2,760	-5,832	-4,116	-4,905	-5,747	-9,895	-10,764	-11,788	-8,242	-12,498	-14,261	-16,474	-16,086	-19,100	-21,578	-21,289	-22,984	-31,372	-29,467	-28,290	-25,203	-30,919	-34,321	-32,493	-111,530	38,677	-236,470	39,273	32,151	29,749	28,341	23,974	20,907	20,134	21,118	15,772	33,111	-8,879
Interest in (income) loss of equity method investments
-23,577	4,073	792	2,634	2,219	-4,052	1,666	1,891	0	0	-661	-1,975	-5,766	340	-2,434	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of value of business acquired
1,799	2,056	4,368	7,194	13,104	22,797	39,018	53,407	57,110	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other amortization and depreciation
15,612	18,265	15,520	17,702	23,742	-23,139	10,254	11,393	11,287	12,088	6,641	6,171	6,467	7,203	6,115	5,961	5,294	122	15,954	3,684	6,581	7,301	6,750	-4,970	15,889	6,547	5,312	5,205	6,208	3,515	3,414	3,883	3,009	4,660	6,048	2,762	3,435	4,023	3,906	4,022	2,153
Share-based compensation expense, net of cash payments
-4,650	11,331	12,060	12,779	-3,679	8,201	14,438	13,188	-1,481	11,151	12,362	13,912	-24,758	23,631	11,963	17,974	-1,357	17,617	10,972	9,629	4,834	18,163	17,311	19,063	8,700	13,714	12,518	16,924	14,012	12,015	10,451	33,446	12,000	9,551	9,524	9,612	10,447	9,644	7,779	8,915	10,357
Non-cash foreign exchange losses (gains)
-	-	-	-	-	-	-	-	-	-48,298	0	0	24,149	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Changes in:
Accrued interest receivable
-1,234	-3,431	-953	3,788	-1,544	4,269	-2,924	5,189	-3,350	13,083	-4,522	1,388	-5,596	4,171	-1,024	354	-2,616	-1,780	-2,057	-1,970	-3,101	-8,557	698	1,697	-7,626	-1,153	3,187	-779	-1,343	1,566	-1,763	3,557	-4,486	3,026	-2,064	3,371	-2,351	3,606	-1,928	10,279	-5,152
Reinsurance recoverable balances on unpaid and paid losses
260,131	246,829	18,894	47,928	98,425	347,464	135,493	170,077	113,656	191,682	181,915	106,505	-348,942	13,320	59,997	96,547	6,668	56,630	17,451	130,778	10,133	-10,215	5,756	38,968	-18,305	30,478	-81,931	85,894	31,728	74,409	-2,948	25,761	-3,732	11,313	-15,585	85,823	111,231	25,935	6,532	99,162	21,746
Deferred acquisition costs
119,796	-94,580	-70,944	-45,713	136,906	-116,171	-25,820	-13,049	253,369	-88,885	-27,672	-19,860	171,493	-106,971	-79,018	-22,261	175,038	-72,604	-50,662	-21,776	149,786	-89,435	-66,634	-11,075	178,170	-48,880	-38,067	-18,348	172,169	-71,413	-41,752	-45,254	140,140	-69,877	-16,743	-4,451	139,298	-43,587	-16,304	-1,092	117,963
Prepaid reinsurance premiums
181,055	-140,184	-50,686	19,092	260,567	-98,844	-49,984	142,710	218,772	-122,087	-1,643	93,573	86,534	-25,839	83,949	62,967	37,732	-22,061	34,769	27,321	6,926	2,914	16,681	36,898	-31,308	-10,019	8,752	30,911	-15,059	21,992	22,422	43,327	-10,688	-1,146	-5,673	32,634	-8,588	-13,454	-36,850	-19,682	-10,503
Reserve for losses and loss expenses
348,285	251,342	237,532	-26,275	4,829	263,821	60,215	-65,708	184,511	86,067	910,496	245,788	-237,773	-162,352	88,167	78,529	50,132	-61,055	64,603	269,971	-122,508	-137,978	402,805	-132,612	-85,312	949,194	-141,699	-245,114	-38,972	-307,661	-150,419	-1,307	-174,299	-90,204	67,771	-388,751	-981,486	-97,847	-215,752	40,746	-195,389
Unearned premiums
774,703	-525,756	-351,842	-33,613	903,253	-603,152	-359,080	-64,053	1,056,045	-596,711	-184,299	69,932	654,475	-483,748	-255,264	117,003	820,947	-350,769	-208,828	35,796	553,642	-399,682	-263,812	36,092	685,778	-306,452	-218,754	73,445	680,918	-316,197	-187,334	-7,106	510,867	-351,158	-176,197	43,489	604,652	-280,563	-166,862	32,818	538,886
Insurance and reinsurance balances, net
502,437	-326,751	-202,624	21,300	559,150	-499,511	-363,362	-200,903	854,993	-383,605	-75,121	-18,899	559,456	-413,275	-236,332	122,317	737,185	-255,550	-231,018	141,928	419,218	-310,010	-284,274	66,016	630,861	-204,703	-215,162	66,850	603,478	-268,549	-203,903	-42,063	511,297	-279,254	-304,518	52,250	560,084	-235,079	697,498	40,598	-444,000
Other items
40,413	58,401	-17,185	14,627	38,536	41,361	-42,095	-62,691	36,973	-70,338	33,252	61,180	40,834	-60,579	-16,571	-5,476	96,430	-8,278	-96,793	-7,538	96,490	-45,528	-51,328	-28,976	44,630	-7,730	-11,999	29,647	-9,129	-6,368	-33,190	-48,662	2,778	-13,075	-64,946	42,728	113,075	-35,571	52,858	-39,050	-59,262
Net cash used in operating activities
-49,744	-42,511	258,098	41,109	-57,692	-120,394	173,618	45,434	-87,885	-52,856	163,192	185,154	-36,261	141,414	202,774	76,786	-14,250	88,270	587,318	143,700	-28,088	126,441	343,498	240,975	151,268	208,342	431,706	236,329	220,591	232,598	424,459	288,019	175,541	198,509	399,479	314,465	277,689	320,857	328,678	202,780	335,462
Cash flows from investing activities:
Purchases of:
Fixed maturities
2,777,053	2,288,354	2,690,946	2,589,639	2,425,086	1,756,564	1,797,555	2,435,603	2,474,418	2,464,382	1,484,571	2,095,519	2,670,518	2,552,155	1,937,164	2,130,700	2,556,709	2,901,138	2,656,229	2,418,115	3,036,497	3,264,829	2,201,169	3,282,631	3,298,375	2,993,765	3,156,704	3,483,841	2,595,964	2,706,047	3,713,896	2,978,288	4,114,912	3,336,162	5,028,609	3,312,429	3,794,801	3,132,243	3,860,734	2,674,538	2,761,817
Equity securities
16,132	12,936	18,115	3,468	23,503	14,067	9,542	6,976	42,522	-2,668	7,515	2,730	98,559	6,727	80,503	112,361	102,963	116,202	144,245	54,931	41,239	54,230	300,951	136,184	73,197	49,717	60,665	59,706	70,838	119,301	46,570	103,030	108,848	142,643	124,682	168,724	167,697	161,465	40,672	47,830	7,707
Mortgage loans
84,738	64,309	33,805	80,941	14,965	28,092	17,884	357	59,838	10,265	10,605	10,207	0	17,363	10,164	59,660	61,263	76,760	49,825	79,606	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other investments
20,858	51,450	25,203	71,486	70,039	100,807	21,842	25,722	31,755	17,624	28,506	43,278	63,742	12,870	4,373	55,505	117,622	21,970	7,109	33,064	21,418	15,270	22,760	17,662	19,850	25,582	32,021	1,796	107,436	0	20,000	40,000	50,084	40,000	60,000	75,000	45,000	20,000	25,000	20,000	0
Payments to Acquire Equity Method Investments
-	-	-	-	-	-	-	-	-	0	0	0	1,000	4,365	0	103,548	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Short-term investments
94,352	52,270	26,024	15,891	85,045	20,567	45,790	181,625	57,688	20,817	11,763	6,709	2,320	109,268	53,679	13,869	13,931	45,922	3,402	16,232	14,513	107,067	99,376	42,936	420,115	40,119	85,956	14,688	57,405	98,068	133,533	72,982	79,398	242,127	265,251	169,766	163,980	185,968	102,624	89,239	200,931
Proceeds from the sale of:
Proceeds from the sale of:
Fixed maturities
2,506,490	1,996,183	2,225,728	1,817,819	1,978,928	1,629,892	1,504,013	2,009,958	2,442,673	1,650,575	1,399,333	1,525,981	2,429,084	1,837,653	1,507,753	2,086,743	2,473,167	2,634,641	2,137,051	1,837,490	2,823,044	3,173,395	1,841,278	2,692,433	3,092,006	2,482,079	2,445,134	3,139,704	2,194,339	2,115,321	3,145,690	2,571,894	3,311,446	2,899,398	4,536,306	3,081,247	3,237,485	2,647,686	3,186,459	2,156,375	2,632,428
Equity securities
10,308	3,334	30,226	-12,419	14,875	23,098	3,182	24,946	194,970	215,303	105,573	56,607	70,575	9,460	85,372	125,556	85,254	162,563	110,679	1,593	522	143,080	400,466	123,660	73,694	43,955	60,945	63,166	155,357	116,409	62,144	179,930	109,990	98,870	67,340	23,393	32,903	77,106	21,198	19,246	8,526
Other investments
32,355	26,147	59,209	95,908	67,865	149,635	119,449	47,453	44,493	57,047	26,658	45,461	131,777	45,467	60,034	62,515	47,562	8,065	32,470	133,071	78,812	8,396	117,032	11,423	76,657	15,751	31,892	23,693	21,941	10,506	13,834	8,979	20,271	9,072	9,728	17,966	34,222	58,927	63,998	12,495	44,187
Short-term investments
54,105	22,764	37,686	20,162	185,445	25,296	52,177	54,791	46,719	29,996	5,745	6,452	7,087	-13,243	49,117	1,960	16,331	12,617	12,233	20,804	79,657	96,781	37,713	237,363	154,603	65,783	16,835	59,158	55,914	73,990	112,501	36,276	132,157	218,496	273,585	93,056	125,041	123,538	88,987	76,824	134,102
Proceeds from redemption of fixed maturities
424,207	397,668	315,206	291,772	278,150	259,204	275,523	386,961	319,526	462,984	503,996	521,286	521,716	514,736	419,137	312,568	246,147	300,631	324,808	501,503	280,864	301,061	252,738	252,630	279,815	263,264	365,593	420,904	357,915	396,680	382,479	337,958	339,436	307,560	362,984	281,882	469,745	406,967	346,215	210,766	272,128
Proceeds from redemption of short-term investments
1,775	3,572	8,223	5,158	2,413	8,000	7,259	14,550	16,022	3,166	150	4,180	111,931	28,361	5,646	257	2,282	1,350	15,350	2,355	4,632	16,403	47,568	1,955	14,548	11,665	30,931	8,164	10,955	6,438	655	15,688	46,970	25,575	25,661	21,331	78,649	17,427	18,222	25,225	52,200
Proceeds from the repayment of mortgage loans
399	39,485	20,273	243	243	62,600	29,740	20,504	20,237	45,733	235	234	10,233	232	4,808	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchase of other assets
13,485	21,306	9,053	20,696	12,051	8,185	3,875	13,043	0	16,843	13,637	7,778	4,427	8,094	5,742	-31,408	44,721	15,282	6,308	7,446	4,647	551	4,267	-3,113	19,152	6,902	6,761	3,036	7,605	8,987	13,039	7,805	5,491	23,284	6,745	5,776	6,388	5,877	6,983	3,233	1,761
Change in restricted cash and cash equivalents
-	-	-	-	-	-	-	-	-	-	-	-	-	-	28,536	25,536	-11,627	-1,602	-2,444	-6,312	-19,240	170,431	-27,943	56,422	24,405	4,105	-44,998	48,884	-34,174	20,874	-51,881	-30,192	50,943	-164,832	70,403	72,495	7,083	-31,689	42,602	-25,771	55,258
Net cash provided by (used in) investing activities
23,021	-1,472	-106,595	-563,478	-102,770	229,443	94,855	-104,163	418,419	-456,333	490,898	-84,892	441,837	-245,731	11,706	119,828	-14,839	-55,805	-232,083	-106,266	168,457	126,738	96,215	-213,258	-163,771	-237,693	-345,779	102,838	-8,653	-233,933	-157,854	-21,188	-449,406	-60,413	-280,086	-285,315	-206,904	-142,213	-353,536	-308,138	116,097
Cash flows from financing activities:
Net proceeds from issuance of debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	494,344	0	0	0	0	-	-	-	-	-	-	-	-	0	0	0	494,870
Net proceeds from issuance of preferred shares
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-424	393,968	0	0	0	0	-	-	-	-
Payments for Repurchase of Common Stock
-	-	-	-	-	-	-	-	-	-4,836	3,424	142,043	120,549	106,340	126,036	127,039	136,011	-17,893	306,146	3,370	22,581	74,671	150,449	155,546	162,536	112,750	18,892	209,853	130,768	894	178,824	90,258	47,711	50,104	971	283	14,527	277,168	13,180	121,668	297,567
Taxes paid on withholding shares
8,491	720	31	411	9,003	1,381	23	1,513	7,163	198	110	1,110	23,260	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Dividends paid - common shares
37,318	33,683	33,578	33,688	36,260	32,732	32,598	32,899	35,273	32,164	31,679	32,648	38,541	31,653	31,323	32,711	36,636	29,041	30,441	29,067	30,103	27,527	29,189	31,341	29,562	28,005	28,109	29,123	33,189	28,418	29,512	30,159	32,398	30,181	28,391	118,563	29,320	25,212	25,651	26,049	31,390
Repurchase of preferred shares
225,000	-	-	-	0	-	-	-	-	-	-	-	-	48,926	0	0	2,843	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Dividends paid - preferred shares
9,144	10,656	10,656	10,657	10,656	10,656	10,656	10,657	10,656	10,656	10,656	16,691	14,841	9,969	9,969	9,968	10,003	10,022	10,022	10,022	10,022	10,022	10,022	10,022	10,022	10,022	10,421	10,009	8,741	8,741	15,684	4,584	9,219	9,219	9,218	9,219	9,219	9,219	9,218	9,219	9,219
Proceeds from issuance of common shares
-	-	-	-	-	-	-	-	-	-	-	-	-	216	0	-1,775	1,783	944	-133	312	2,863	498	354	2,432	2,266	3,344	2,176	6,566	8,253	1,542	1,564	766	1,248	121	993	770	4,851	3,770	361	1,294	2,804
Sales of shares to noncontrolling interests
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Return of capital to noncontrolling interests
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in financing activities
-279,953	376,116	-44,265	1,578	-55,919	-44,769	-43,277	-45,069	-53,092	240,938	-45,869	-543,566	-197,191	320,944	-167,328	-171,493	-183,710	-38,274	-346,742	-42,147	-59,843	-611,722	-174,306	-194,477	294,490	-97,433	-55,246	-123,970	-164,445	-36,511	-222,456	-528,732	305,888	-89,383	-37,587	-127,295	-48,215	-307,829	-47,688	-155,642	159,498
Effect of exchange rate changes on foreign currency cash, cash equivalents and restricted cash
-28,718	35,773	6,599	9,247	-7,381	13,342	509	-14,091	3,354	910	7,636	7,004	1,678	-9,938	8,103	-9,496	1,986	1,689	-5,635	7,874	-16,122	-10,004	-19,056	5,032	441	557	8,067	-4,048	-7,654	-1,922	4,425	-8,927	7,967	-2,080	-17,712	6,001	11,181	836	37,794	-25,713	-20,342
Decrease in cash, cash equivalents and restricted cash
-335,394	367,906	113,837	-511,544	-223,762	77,622	225,705	-117,889	280,796	-267,341	615,857	-436,300	210,063	206,689	55,255	15,625	-210,813	-4,120	2,858	3,161	64,404	-368,547	246,351	-161,728	282,428	-126,227	38,748	211,149	39,839	-39,768	48,574	-270,828	39,990	46,633	64,094	-92,144	33,751	-128,349	-34,752	-286,713	590,715
Supplemental disclosures of cash flow information:
Income taxes paid (refund)
-2,131	-	-	-	1,321	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income taxes paid
-	-	-	-	-	3,590	4,758	2,938	4,412	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest paid
13,133	21,688	6,437	31,438	0	21,966	10,306	22,244	10,306	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repurchase of Series A preferred shares included in other liabilities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	150,000	-	-	-	0	-	-	-	-