| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 |
|---|---|---|---|---|---|---|---|---|---|---|---|
Operating activities | |||||||||||
Net Income (Loss) Attributable to Parent | |||||||||||
157,100 | 141,300 | 101,200 | 106,700 | 94,400 | 100,700 | 63,800 | 106,891 | 48,623 | 62,799 | 83,021 | 101,785 |
Adjustments to reconcile net (loss) income to net cash provided by operating activities: | |||||||||||
Depreciation and amortization | |||||||||||
9,000 | 6,300 | 8,200 | 8,500 | 8,300 | 7,000 | 6,100 | 5,601 | 6,388 | 7,098 | 9,899 | 7,226 |
Stock-based compensation | |||||||||||
10,100 | 9,400 | 6,800 | 5,800 | 4,600 | 6,000 | 5,600 | 6,141 | 3,742 | 4,053 | 5,366 | 3,161 |
Amortization of cloud computing arrangements | |||||||||||
5,300 | 0 | 0 | - | - | - | - | - | - | - | - | - |
Amortization of premium on investments, net | |||||||||||
-8,700 | -8,400 | -14,300 | -14,600 | -12,800 | -10,600 | -9,000 | -7,019 | -7,242 | -6,105 | -5,047 | 6,226 |
Allowance for expected credit losses | |||||||||||
-2,100 | -3,300 | 200 | -2,400 | 4,300 | 800 | 1,100 | - | - | -3,611 | 1,968 | -678 |
Deferred income tax expense | |||||||||||
-6,000 | -14,400 | -24,200 | 13,400 | -5,600 | -500 | -10,800 | -10,999 | -1,608 | 4,680 | 10,991 | 4,503 |
Net realized and unrealized losses (gains) on investments | |||||||||||
51,100 | -13,100 | 7,400 | 11,200 | -10,700 | 16,300 | 9,500 | 5,048 | 20,161 | 10,137 | 791 | 11,524 |
Gain (Loss) on Extinguishment of Debt | |||||||||||
0 | 0 | 2,100 | 0 | 0 | - | - | - | - | - | - | - |
Write-off of previously capitalized costs | |||||||||||
0 | 0 | 7,500 | 0 | 0 | - | - | - | - | - | - | - |
Excess tax benefits from stock-based compensation | |||||||||||
- | - | - | - | 1,200 | 1,200 | 0 | 0 | - | - | - | - |
Other operating activities, adjustments to reconcile net income to net cash | |||||||||||
- | - | - | - | - | -300 | -900 | 134 | -3,043 | - | - | - |
Realized losses (gains) on retirement of assets | |||||||||||
- | - | - | - | - | - | - | - | - | -420 | -69 | 22 |
Change in operating assets and liabilities: | |||||||||||
Accrued investment income | |||||||||||
- | - | - | - | - | - | - | - | - | -33 | -1,146 | -469 |
Premiums receivable | |||||||||||
-49,500 | 3,100 | 22,200 | 1,200 | 9,600 | 17,600 | 57,200 | 62,979 | 48,399 | -12,265 | -28,558 | 27,341 |
Reinsurance recoverable on paid and unpaid losses | |||||||||||
-20,400 | -33,100 | -44,500 | -47,200 | -44,300 | -71,300 | -63,800 | -136,716 | -18,889 | -95,720 | -22,895 | 37,938 |
Cloud computing arrangements | |||||||||||
-12,900 | -26,000 | 0 | 0 | - | - | - | - | - | - | - | - |
Operating lease right-of-use-assets | |||||||||||
-15,900 | 0 | 0 | - | - | - | - | - | - | - | - | - |
Funds held by or deposited with reinsureds | |||||||||||
- | - | - | - | - | - | - | - | - | -78,638 | -5,824 | 7,721 |
Current federal income taxes | |||||||||||
-7,400 | 8,600 | -2,700 | 7,700 | -3,900 | 6,500 | -3,700 | 100 | 2,055 | 44 | 6,950 | -20,672 |
Unpaid losses and loss adjustment expenses | |||||||||||
-63,400 | -58,200 | -34,900 | -46,500 | -22,200 | -39,200 | -99,000 | 40,823 | 7,366 | 145,929 | 80,820 | -71,980 |
Unearned premiums | |||||||||||
800 | 18,000 | 8,000 | 1,400 | -1,900 | 6,800 | 38,800 | 70,216 | 45,448 | -9,092 | -38,118 | -24,476 |
Accounts payable, accrued expenses and other liabilities | |||||||||||
-7,500 | 19,100 | -7,000 | -4,200 | 8,600 | 12,800 | 1,800 | 2,132 | -5,645 | -10,455 | -13,188 | -3,660 |
Deferred reinsurance gain—LPT Agreement | |||||||||||
12,500 | 14,000 | 11,300 | 14,600 | 17,500 | 42,100 | 32,000 | 84,920 | 17,436 | 18,233 | 18,007 | -18,421 |
Restricted cash and cash equivalents | |||||||||||
- | - | - | - | - | - | - | - | - | 12,210 | 0 | 0 |
Contingent commission receivable—LPT Agreement | |||||||||||
18,800 | 0 | 0 | - | -2,800 | -1,300 | -6,000 | -15,014 | -1,863 | - | - | - |
Operating lease liabilities | |||||||||||
17,800 | 0 | 0 | - | - | - | - | - | - | - | - | - |
Non-cancellable obligations | |||||||||||
-4,200 | -16,100 | -2,700 | 0 | - | - | - | - | - | - | - | - |
Other | |||||||||||
11,800 | 3,000 | -12,300 | 2,400 | 6,900 | 10,500 | 2,400 | -16,082 | -15,518 | 5,207 | -9,941 | 223 |
Net cash provided by operating activities | |||||||||||
123,100 | 180,200 | 142,300 | 122,800 | 116,400 | 171,900 | 166,500 | 131,249 | 42,384 | 56,981 | 40,751 | 67,314 |
Investing activities | |||||||||||
Purchases of fixed maturity securities | |||||||||||
359,000 | 636,700 | 592,300 | 466,800 | 476,900 | 378,000 | 514,200 | 444,001 | 217,630 | 273,833 | 175,790 | 113,587 |
Purchases of equity securities | |||||||||||
240,800 | 79,300 | 36,800 | 49,100 | 85,100 | 29,500 | 30,500 | 30,979 | 21,080 | 17,673 | 12,614 | 558 |
Purchases of short-term investments | |||||||||||
0 | 59,700 | 8,200 | 10,000 | 0 | 0 | - | - | - | - | - | - |
Purchases of other invested assets | |||||||||||
28,400 | 0 | 0 | - | - | - | - | - | - | - | - | - |
Proceeds from sale of fixed maturity securities | |||||||||||
163,000 | 204,800 | 249,800 | 132,400 | 105,400 | 47,900 | 52,500 | 50,465 | 235,646 | 102,659 | 85,541 | 42,467 |
Proceeds from sale of equity securities | |||||||||||
232,400 | 70,700 | 41,200 | 80,400 | 34,700 | 36,500 | 30,700 | 16,147 | 6,246 | 17,753 | 20,634 | 4,010 |
Proceeds from maturities and redemptions of fixed maturity securities | |||||||||||
309,900 | 329,400 | 215,700 | 230,600 | 323,900 | 251,100 | 206,800 | 227,888 | 190,449 | 123,672 | 170,278 | 105,424 |
Proceeds from maturities of short-term investments | |||||||||||
25,000 | 39,000 | 20,200 | 0 | 0 | - | - | - | - | - | - | - |
Net change in unsettled investment purchases and sales | |||||||||||
-24,700 | 22,400 | 5,800 | 0 | 0 | - | - | - | - | - | - | - |
Capital expenditures and other | |||||||||||
12,100 | 10,200 | 8,200 | 5,000 | 11,500 | 10,500 | 5,000 | 5,116 | 4,687 | 1,905 | 4,682 | 3,926 |
Proceeds from sale of fixed assets | |||||||||||
- | - | - | - | - | - | 800 | 226 | 396 | 0 | 0 | - |
Payments to Acquire Businesses, Net of Cash Acquired | |||||||||||
16,100 | 0 | 0 | - | - | - | - | - | - | 0 | 100 | 168,903 |
Change in restricted cash and cash equivalents | |||||||||||
- | - | - | - | -8,300 | 4,200 | 1,200 | -946 | -10,650 | 2,000 | -2,725 | - |
Restricted cash (used in) provided by investment activities | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 145 |
Net cash provided by investing activities | |||||||||||
49,200 | -119,600 | -112,800 | -87,500 | -101,200 | -86,700 | -260,100 | -184,424 | 199,990 | -51,327 | 85,992 | -135,218 |
Financing activities | |||||||||||
Acquisition of common stock | |||||||||||
67,500 | 4,200 | 0 | 21,100 | 0 | 0 | - | 41,795 | 91,975 | 63,592 | 74,185 | 14,152 |
Cash transactions related to stock-based compensation | |||||||||||
2,500 | 1,800 | -3,800 | -9,000 | -4,800 | -1,600 | -6,500 | -839 | -1,019 | 1,135 | 123 | 0 |
Dividends paid to stockholders | |||||||||||
28,900 | 26,700 | 19,700 | 11,500 | 7,700 | 7,600 | 7,500 | 7,508 | 8,943 | 9,935 | 11,031 | 11,808 |
Redemption of notes payable | |||||||||||
20,000 | 0 | 9,900 | 0 | 60,000 | - | - | - | - | - | - | - |
Payments on capital leases | |||||||||||
200 | 200 | 200 | 0 | 500 | - | - | - | - | - | - | - |
Debt issuance costs | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 375 |
Payments on notes payable and capital leases | |||||||||||
- | - | - | - | - | 11,300 | 11,600 | 10,000 | 10,000 | 0 | 50,000 | 2,678 |
Excess tax benefits from stock-based compensation | |||||||||||
- | - | - | - | 1,200 | 1,200 | 0 | 0 | - | - | - | - |
Proceeds from notes payable | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 150,000 |
Other | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | -38 |
Net cash used in financing activities | |||||||||||
-119,100 | -32,900 | -26,000 | -23,600 | -62,200 | -16,100 | -12,600 | -58,464 | -109,899 | -74,662 | -135,339 | 120,949 |
Net increase in cash, cash equivalents and restricted cash | |||||||||||
53,200 | 27,700 | 3,500 | 11,700 | -47,000 | 69,100 | -106,200 | -111,639 | 132,475 | -69,008 | -8,596 | 53,045 |
Cash (received) paid for income taxes | |||||||||||
- | - | - | - | - | - | 3,900 | 1,819 | -2,697 | 1,007 | -8,581 | 26,277 |
Cash paid for interest | |||||||||||
- | - | - | - | - | - | 3,300 | 3,525 | 3,561 | 6,000 | 7,514 | 1,782 |
Non-cash transactions | |||||||||||
Financed property and equipment purchases | |||||||||||
700 | 300 | 400 | 700 | 300 | 700 | 2,300 | 3,106 | 0 | 2,009 | 1,283 | 0 |
Non-cash exchange of fixed maturity investments for short-term investments | |||||||||||
- | - | - | 6,000 | 0 | 0 | - | - | - | - | - | - |