Essent group ltd. (ESNT)
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'14Jun'13Mar'13
Operating Activities
Net income

577,516

555,713

537,283

508,664

484,014

467,363

501,473

463,855

424,218

379,747

279,795

261,113

241,253

222,606

204,399

185,509

170,444

157,331

141,718

125,967

108,329

88,497

0

0

0

0

0

Adjustments to reconcile net income to net cash provided by operating activities:
Gain on the sale of investments, net

5,704

3,229

2,554

1,925

1,781

1,318

1,412

1,452

1,557

2,015

2,208

2,079

2,118

1,934

2,278

2,391

2,376

2,554

2,071

1,674

1,174

925

0

0

0

0

0

Equity in net loss (income) of other invested assets

-136

-199

-127

-180

-48

111

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Distribution of income from other invested assets

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Depreciation and amortization

3,746

3,769

3,633

3,496

3,408

3,404

3,507

3,687

3,819

3,923

3,931

3,994

4,065

4,064

3,921

3,678

3,485

3,219

3,016

2,828

2,652

2,464

0

0

0

0

0

Amortization of discount on payments due under Asset Purchase Agreement

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

51

0

0

0

0

0

Stock-based compensation expense

17,268

16,588

16,296

15,963

15,568

15,073

15,977

16,832

17,674

18,688

18,959

18,220

17,718

16,881

15,576

14,986

14,154

13,633

13,071

12,968

12,998

12,520

0

0

0

0

0

Amortization of premium on investment securities

18,027

15,738

15,232

14,662

14,484

14,220

13,987

13,218

12,342

12,038

11,165

11,101

10,789

10,486

10,833

10,387

10,324

10,004

9,362

8,840

8,047

6,840

0

0

0

0

0

Deferred Income Tax Expense (Benefit)

61,081

59,481

60,333

52,882

56,257

50,692

-32,787

-25,596

-27,591

-19,431

63,785

62,248

60,361

57,564

54,891

51,460

53,122

52,157

54,279

56,263

51,787

44,614

0

0

0

0

0

Excess tax benefits from stock-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,470

2,458

2,458

1,809

0

0

0

-

-

Change in:
Accrued investment income

396

908

1,402

2,732

3,793

4,820

5,286

4,879

4,192

3,319

2,981

2,296

1,760

1,720

1,486

1,537

2,191

2,020

2,338

2,302

2,567

3,770

0

0

0

0

0

Accounts receivable

1,643

3,767

3,815

5,452

6,199

7,118

6,345

7,200

8,511

8,160

8,996

6,611

6,279

4,955

3,623

4,144

2,240

2,828

3,464

3,222

4,609

3,803

0

0

0

0

0

Deferred policy acquisition costs

-510

-344

-156

-117

94

695

1,328

1,910

2,070

1,954

1,818

1,798

1,807

1,871

1,784

1,693

1,834

1,932

2,445

3,007

3,224

3,424

0

0

0

0

0

Increase (Decrease) in Mortgage Guaranty Insurer United States Mortgage Guaranty Tax and Loss Bonds

-

-

-

-

-

-49,800

-47,522

-41,022

-29,363

70,885

70,435

65,585

61,135

61,860

55,610

54,599

55,849

59,739

64,739

61,173

45,673

51,673

0

0

0

-

-

Other assets

8,168

2,921

10,049

1,513

-1,929

5,060

3,868

10,910

5,052

1,408

623

2,028

2,040

526

1,869

-2,387

-1,399

724

-511

4,233

1,303

-78

0

0

0

0

0

Reserve for losses and LAE

19,857

19,898

8,081

5,122

3,518

2,614

21,776

20,218

20,498

18,708

5,848

7,324

8,998

10,382

11,183

10,543

13,681

9,333

14,089

10,297

4,453

5,357

0

0

0

0

0

Unearned premium reserve

-31,186

-16,580

-2,266

11,449

22,981

35,795

46,454

55,023

51,077

40,056

25,881

13,852

14,154

18,571

28,007

36,705

42,941

44,097

50,445

54,201

53,326

53,549

0

0

0

0

0

Other accrued liabilities

21,766

4,375

3,396

3,075

2,675

5,299

2,836

4,918

2,535

2,585

4,388

-1,583

1,751

6,871

2,712

6,180

3,812

6,582

7,575

7,863

5,931

5,138

0

0

0

-

-

Accounts payable and accrued expenses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

Net cash provided by operating activities

614,297

589,848

563,946

548,149

542,135

625,321

602,506

566,826

512,553

368,573

326,691

295,872

283,950

274,559

267,262

259,803

247,876

226,559

211,324

198,303

188,356

153,704

0

0

0

0

0

Investing Activities
Net change in short-term investments

384,343

160,962

60,692

-75,543

-169,940

-158,294

-104,601

196,027

268,382

180,346

146,030

1,749

28,892

46,352

28,883

33,869

-28,434

-124,692

15,340

-77,802

-149,603

196,609

0

0

0

0

0

Purchase of investments available for sale

1,147,180

1,044,964

1,043,927

1,118,842

1,051,715

1,126,032

1,127,005

941,779

899,350

833,298

772,880

785,663

711,247

656,768

662,236

649,374

724,923

798,891

716,861

688,901

628,184

699,324

0

0

0

0

0

Proceeds from maturity of investments available for sale

100,483

88,025

100,673

101,633

115,064

114,651

103,214

88,135

70,303

71,908

56,758

54,461

43,594

27,186

22,956

10,131

4,886

8,613

16,075

18,075

25,675

27,382

0

0

0

0

0

Proceeds from sales of investments available for sale

703,184

623,771

536,930

475,868

318,036

340,780

298,619

267,149

296,706

254,377

266,974

286,644

291,742

313,780

361,410

416,345

460,924

449,834

388,902

289,743

163,606

144,744

0

0

0

0

0

Purchase of other invested assets

50,116

49,789

50,746

70,268

32,843

30,860

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Return of investment from other invested assets

9,373

2,252

812

872

495

316

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchase of property and equipment

2,864

3,409

3,408

3,779

4,557

4,054

3,069

3,027

2,204

2,783

3,465

2,919

3,038

3,162

4,086

4,077

4,644

4,960

4,502

5,154

4,913

3,893

0

0

0

0

0

Net cash used in investing activities

-771,463

-545,076

-520,358

-538,973

-485,580

-546,905

-648,005

-785,549

-802,927

-690,142

-598,643

-449,226

-407,841

-365,316

-310,839

-260,844

-235,323

-220,712

-331,726

-308,435

-294,213

-727,700

0

0

0

0

0

Financing Activities
Excess tax benefits from stock-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,470

2,458

2,458

1,809

0

0

0

-

-

Issuance of common shares, net of costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

Credit facility borrowings

200,000

0

0

0

0

15,000

90,000

140,000

190,000

200,000

175,000

175,000

125,000

100,000

0

0

0

-

-

-

-

-

-

-

-

-

-

Treasury stock acquired

7,211

9,005

9,051

8,514

8,444

31,414

31,452

31,463

31,520

7,577

7,390

7,387

7,308

4,024

3,996

3,966

3,988

5,168

5,212

5,191

5,194

2,498

0

0

0

0

0

Dividends paid

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by (used in) financing activities

147,732

-38,368

-23,803

-8,585

-49,024

-56,994

17,555

215,717

303,619

337,562

313,357

164,852

115,398

93,682

41,190

-8,377

-6,249

-5,652

121,551

121,542

118,921

120,752

0

0

0

0

0

Payment of offering costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

0

0

0

-

-

Other financing activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

53

0

0

0

-

-

-

-

-

-

Net decrease in cash

-9,434

6,404

19,785

591

7,531

21,422

-27,944

-3,006

13,245

15,993

41,405

11,498

-8,493

2,925

-2,387

-9,418

6,304

195

1,149

11,410

13,064

-453,244

0

0

0

0

0

Supplemental Disclosure of Cash Flow Information
Income tax payments

41,500

41,505

43,680

39,880

29,280

29,275

30,600

34,000

39,100

40,300

36,300

36,700

30,200

30,800

46,800

31,300

17,300

15,500

0

0

0

-

-

-

-

-

-

Interest payments

8,972

9,863

10,118

9,930

9,659

9,451

8,616

7,613

6,308

4,685

3,444

2,096

1,025

324

0

0

0

-

-

-

-

-

-

-

-

-

-

Noncash Transactions
Issuance of management incentive shares (see Note 10)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

416

0

0

0

0

0