Triple-s management corp (GTS)
CashFlow / Quarterly
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'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11
Cash flows from operating activities:
Net (loss) income

-26,152

13,222

13,946

30,926

34,783

-10,907

-17,567

-38,746

3,914

24,208

21,911

12,705

-4,343

12,042

-1,944

3,878

3,455

14,161

4,164

18,901

14,806

26,269

4,655

27,453

6,929

-359

18,604

20,078

17,183

17,701

11,683

17,016

7,500

18,967

11,613

17,086

10,370

Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization expense

3,907

3,871

3,684

3,540

3,505

3,602

2,947

3,576

3,410

3,363

3,381

3,464

2,990

3,503

3,317

3,600

3,700

4,348

3,893

3,964

4,174

8,426

5,396

5,473

5,105

7,785

5,590

5,955

6,259

6,253

6,188

5,908

5,893

5,794

5,870

5,377

5,188

Net amortization of investments

-676

-842

-637

-531

-316

-229

-631

-1,177

-1,939

-2,718

-2,609

-2,431

-2,356

-2,490

-2,200

-2,045

-1,936

-1,898

-1,769

-1,654

-1,533

-1,494

-1,566

-1,602

-1,429

-1,405

-1,530

-1,561

-1,467

-1,859

-2,119

-1,315

-1,132

-3,514

515

128

-1,041

Additions to the allowance for doubtful receivables

949

16,423

2,230

-8,990

9,236

4,236

5,356

1,020

709

-581

4,433

819

-3,209

-897

2,811

-1,844

1,531

4,696

-201

6,072

5,554

8,851

-420

4,558

1,830

-7,163

879

632

2,772

-758

786

202

333

2,030

3,852

1,545

410

Deferred tax (benefit) expense

-12,268

-10,909

-2,022

1,660

14,932

928

-3,714

-27,789

-1,503

77

1,741

-4,209

-7,525

-4,300

-8,327

6,736

-2,435

70

1,283

-6,044

-379

-22,482

2,795

-1,703

-416

451

-2,494

-7,479

99

-668

126

1,041

-1,421

2,540

740

788

9,802

Net realized investment (losses) gains

-466

1,077

1,087

2,364

1,315

-767

-956

-921

2,942

2,688

3,753

4,054

336

10,425

5,376

1,520

58

3,682

-1,561

10,607

6,213

11,069

3,108

3,928

126

-818

-144

1,661

1,888

3,040

21

458

1,678

140

5,569

6,995

5,893

Net unrealized losses (gains) on equity investments

-56,806

7,892

1,267

3,323

19,669

-25,203

5,632

-776

-16,199

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Interest credited to policyholder deposits

1,561

1,564

1,603

1,425

1,386

1,434

2,131

1,063

1,094

2,526

1,007

1,153

991

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Interest credited to policyholder deposits

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,241

-1,195

-

-815

-843

-899

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net unrealized losses on trading securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-6,007

-119

-1,141

Share-based compensation

2,359

2,882

2,816

4,321

1,586

-105

919

2,152

391

5,425

1,481

1,613

-1,443

532

-382

1,228

1,085

2,770

2,321

1,316

1,883

754

396

596

625

430

1,188

485

678

750

516

455

905

583

398

298

793

Equity securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

31,979

283

20,804

Equity securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

5,528

-2,136

-441

-187

(Increase) decrease in assets
Premium and other receivables, net

58,059

-24,190

1,011

-59,676

41,002

-216

-103,803

-32,182

-123,360

-32,226

621,572

21,815

3,263

-48,496

-9,773

27,902

35,687

4,584

-66,986

44,436

11,567

40,646

-66,156

41,093

29,463

-18,191

-45,258

39,818

2,578

9,682

-37,897

14,771

17,854

15,808

-27,421

13,681

-56,690

Deferred policy acquisition costs and value of business acquired

2,737

1,742

7,529

7,972

4,503

6,315

3,588

2,194

161

-543

1,518

4,799

822

2,036

1,688

2,877

685

3,620

885

2,584

-541

3,539

446

3,049

-223

1,030

1,194

2,783

-874

4,529

2,404

3,558

2,378

7,973

2,003

427

-701

Deferred taxes

88

340

-45

-42

-27

-340

-84

-91

-431

-5,164

-62

15

265

2,415

2,562

-16

-162

-2,747

-5,745

3,594

1,282

-1,564

-131

-202

-57

9,239

-9

1

-1

1,167

169

-149

-220

-248

896

-627

-92

Other assets

62,034

-13,813

7,661

2,744

2,023

-18,187

-13,340

-7,492

40,489

-2,141

-4,205

1,192

37

-6,589

-15,827

4,940

26,485

-10,972

-2,994

-8,671

25,267

-2,800

-7,718

-13,956

15,844

-3,230

2,830

-347

-1,549

-2,747

776

-2,142

5,730

4,542

6,501

8,605

-1,403

Increase (decrease) in liabilities:
Claim liabilities

21,560

-92,733

-63,436

-12,537

-58,825

-101,325

-73,330

76,683

-72,115

-1,822

604,458

-26,064

42,361

-23,434

29,513

-43,202

33,301

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Claim liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

60,544

11,556

-

-14,901

-32,002

26,289

2,524

3,578

-853

-2,794

-11,271

6,295

18,332

12,303

-3,190

-6,034

-15,113

12,339

Liability for future policy benefits

6,906

4,753

6,605

6,933

6,231

6,129

6,190

4,640

5,029

2,989

5,091

5,265

4,930

5,828

5,913

2,566

17,395

736

5,996

5,091

6,323

6,037

6,200

4,718

6,975

5,925

5,581

6,231

4,928

6,014

5,852

5,663

4,847

6,256

4,536

3,583

3,296

Unearned premiums

-3,042

5,020

5,812

1,758

-2,279

4,446

-90,994

-4,518

87,707

-79,470

-9,742

11,781

84,470

-80,756

78,015

6,178

-4,387

1,820

-1,752

5,009

-7,473

912

-1,777

4,791

-8,632

-2,984

-1,746

5,680

-9,538

1,507

-88,567

15,837

72,311

-70,147

74,680

-806

-8,015

Increase (decrease) in the liability to the Federal Government under the Federal Employee Health Benefits Program (FEHBP) and Federal Employees' Programs (FEPs).

7,479

2,834

-4,218

302

3,937

3,046

-19,248

4,472

4,369

5,545

6,379

3,157

2,836

-104

9,920

-3,804

1,663

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Policyholder deposits

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

936

845

840

-

820

813

779

782

467

569

471

568

389

327

270

Liability to FEHBP

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-291

1,114

-

9,243

-396

-3,127

-2,189

-3,179

-6,115

-1,722

4,399

2,672

-2,784

-1,985

-1,379

5,728

2,083

-2,399

Accounts payable and accrued liabilities

68,229

11,908

21,093

23,021

-16,223

61,276

-56,935

-62,748

-869

94,705

37,971

22,500

11,274

-32,356

-44,089

16,776

35,574

378

-17,951

-6,557

42,574

4,849

-26,744

-483

28,775

-7,727

6,054

10,046

13,096

-13,288

3,945

4,266

-708

8,310

-10,633

-9,324

-6,459

Net cash provided by operating activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

31,260

-

94,742

37,952

38,776

-22,814

57,796

-18,460

21,469

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by (used in) operating activities

6,518

-13,371

-29,760

96,205

-69,900

11,387

-134,651

250

130,473

97,069

58,144

2,740

130,965

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-6,882

31,165

-

-13,391

51,324

74,161

-54,382

138,926

-23,404

101,387

Cash flows from investing activities:
Proceeds from investments sold or matured:
Securities available for sale:
Fixed maturities sold

43,425

58,856

49,888

150,498

164,997

260,090

273,931

325,370

443,419

176,009

199,082

62,118

26,023

173,217

64,481

72,822

90,328

47,500

66,069

102,361

139,115

85,233

54,290

42,058

53,701

79,648

46,157

19,269

15,904

48,775

12,863

25,237

29,843

14,974

123,734

86,340

14,986

Fixed maturities matured/called

11,099

2,241

4,597

2,153

12,267

6,812

7,477

5,288

5,368

3,390

6,565

3,937

5,001

24,680

18,007

13,602

699

29,292

3,417

4,586

30,320

3,437

10,826

4,308

12,758

11,101

23,002

32,719

29,775

25,617

51,357

28,810

35,482

27,942

25,343

17,479

33,964

Equity securities sold

-

-

-

-

-

-

-

-

-

-

-

-

-

-

34,802

20,995

11,257

18,976

15,555

37,055

28,566

43,139

30,058

13,113

27,632

38,929

16,538

67,720

9,246

3,104

20,799

6,568

22,649

6,769

16,828

4,967

9,458

Securities held to maturity:
Fixed maturities matured/called

81

330

200

24

1,154

6,116

1,338

-320

1,048

1,166

843

0

703

318

520

700

0

-

-

-

-

1,198

511

2,294

124

313

607

520

0

555

500

10,280

300

0

501

1,259

181

Equity investments sold

21,107

43,019

56,080

46,931

23,123

53,817

26,827

9,334

113,863

21,645

16,819

11,227

10,272

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amount of cash inflow from the sale of investment assets classified as other.

8,524

1,175

1,283

1,723

373

1,674

252

943

845

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Acquisition of investments:
Fixed maturities

42,822

51,087

106,423

124,907

166,626

229,759

284,577

253,316

575,694

299,766

119,422

107,378

33,738

223,874

108,373

31,966

118,039

108,610

100,604

133,089

126,895

77,378

73,346

57,637

80,146

117,630

105,319

69,031

31,023

34,655

164,469

51,577

62,487

52,998

71,941

108,193

32,224

Equity securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

17,295

43,148

92,956

10,943

69,736

192

11,973

45,370

3,081

3,527

17,123

434

247

55,767

76,095

19,960

2,001

35,482

40,652

17,558

76,436

6,200

29,134

Payments to acquire securities held to maturity [Abstract]
Fixed maturities

80

330

209

0

539

6,118

1,345

-319

1,212

647

847

321

382

321

515

609

0

-

-

-

-

70

515

100

250

314

511

500

0

1,427

507

260

300

0

500

255

0

Equity investments

102,733

-

-

-

9,139

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amount of cash outflow to acquire investment assets classified as other.

10,438

4,268

8,809

6,878

8,546

8,720

19,852

8,966

9,683

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Increase in other investments

4,086

271

18

2,157

535

561

1,961

-5,953

4,136

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Increase in other investments

-

-

-

-

-

-

-

-

-

-

-

-

2,044

-

556

1,201

182

288

-383

973

1,549

-100

159

296

128

-311

707

10

106

224

-264

246

0

-

-

-

-

Net change in policy loans

241

295

326

462

309

-211

231

187

185

-183

544

170

-18

192

71

169

231

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net disbursements for policy loans

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-63

137

-

180

143

29

104

33

79

97

-62

56

-71

-69

28

177

204

11

Acquisition of business, net of cash acquired of $4,618 in the year ended December 31, 2013

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

2,685

622

0

0

54,058

Net capital expenditures

4,587

6,074

4,087

7,691

2,968

7,525

3,199

4,255

4,861

5,410

7,245

5,409

3,295

1,233

801

1,251

1,465

3,466

2,625

1,540

1,463

982

1,010

874

1,917

2,875

295

2,509

6,130

3,322

3,076

2,897

2,783

4,337

3,540

4,483

3,977

Capital contribution to equity method investees

4,933

-77,527

21,385

67,560

0

-113,108

13,164

50,353

49,591

-75,507

55,083

14,942

5,482

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash settlement of stock options

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

1,161

1,259

Proceeds from exercise of stock options

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

316

0

0

95

94

Net cash (used in) provided by investing activities

-85,684

-23,149

-29,209

813

13,252

32,659

-14,504

29,810

-80,819

-162,614

38,692

-49,625

-2,924

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-7,668

-58,526

-

-84,326

-19,496

-20,564

-28,358

13,812

-9,290

-60,815

Cash flows from financing activities:
Change in outstanding checks in excess of bank balances

53,485

-6,192

-9,381

-23,493

36,682

-31,347

10,668

18,428

-19,992

4,312

16,916

2,856

-11,401

13,285

-5,109

2,158

1,916

3,476

-6,290

3,456

-2,428

1,896

-3,161

-2,572

-1,021

-7,686

-4,977

7,265

20,521

-16,509

6,803

-15,674

5,539

13,684

3,733

-16,462

3,454

Net change in short-term borrowings

24,000

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayments of short-term borrowings

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

21,500

-

-

-

0

-

-

-

15,575

Repayments of long-term borrowings

810

811

812

805

808

809

809

808

810

808

816

-23,464

24,676

512

410

410

410

25,410

410

11,410

410

13,349

494

494

498

494

10,492

490

493

491

25,488

486

490

410

25,410

25,410

410

Net cash (used in) provided by investing activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-110,589

-

-87,946

8,268

55,984

9,104

26,319

-804

-5,378

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from long-term borrowings

-

-

-

-

-

-

-

-

-

-

-

-

24,266

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repurchase and retirement of common stock

8,989

9,988

0

0

1

-13

5,995

2,136

14,259

7,667

12,553

0

0

0

6,811

6,533

8,027

7,304

14,995

10,991

14,997

5,342

0

2,997

2,998

0

0

18,250

0

-

-

-

-

3,735

5,997

0

1,557

Proceeds from policyholder deposits

10,296

13,819

6,856

4,597

3,607

3,805

3,120

5,369

6,237

1,427

3,964

4,050

4,116

5,736

4,546

4,539

3,403

10,976

1,049

1,491

3,047

3,138

3,108

1,961

1,344

1,100

1,532

3,560

3,020

6,763

13,359

13,095

6,492

11,084

13,046

5,855

1,824

Surrenders of policyholder deposits

4,073

3,392

5,034

6,861

4,560

5,255

6,717

7,544

7,161

4,684

6,931

5,577

4,890

8,380

6,608

4,030

2,905

8,319

4,197

2,584

3,687

3,636

1,877

2,013

2,546

1,941

2,419

3,904

1,156

2,238

1,510

1,584

1,727

1,966

1,250

1,554

1,776

Net cash used in financing activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-6,023

-

-24,843

-20,038

-18,475

-17,293

-2,424

-6,115

-5,719

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by financing activities

73,909

47,425

-8,371

-26,562

34,920

-33,593

267

13,309

-35,985

-5,456

580

527

-12,585

-

-

-

-

-

-

-

-

-

-

-

-

-

-

7,776

392

-

1,509

-2,431

10,130

18,657

-74,193

19,678

-15,205

Net decrease in cash and cash equivalents

-5,257

10,905

-67,340

70,456

-21,728

10,453

-148,888

43,369

13,669

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net (decrease) increase in cash and cash equivalents

-

-

-

-

-

-

-

-

-

-

97,416

-46,358

115,456

-62,095

69,383

-16,326

-85,352

3,361

-18,047

26,182

76,285

-31,003

81,691

-25,379

10,372

-7,408

25,943

-6,774

-26,969

20,814

-96,208

29,397

63,727

-64,083

78,545

-13,016

25,367