KINGSTONE COMPANIES, INC. KINS Cash Flow

Kingstone companies, inc. (KINS)

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
Cash flows from operating activities:
Net loss
-5,444	1,454	-1,725	1,639	-7,335	-879	3,933	2,757	-2,717	1,931	4,073	2,510	1,470	2,055	3,460	2,842	541	1,852	2,345	2,379	382	1,763	1,883	1,354	327	90	1,662	68	191	-1,006	447	560	765	1,382	219	773	126
Adjustments to reconcile net loss to net cash flows (used in) provided by operating activities:
Net (gains) losses on sale of investments
274	25	-55	26	-25	471	-57	-76	-243	-181	20	130	-54	-1,134	241	283	80	156	-40	2	-67	-1,145	115	134	188	-1,025	94	460	-105	-176	-65	-6	-39	-166	-196	-89	-70
Net unrealized losses (gains) of equity investments
-6,121	-7,028	963	464	1,767	2,399	288	-123	-307	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net unrealized losses (gains) of other investments
-597	-1,300	90	187	292	-97	120	92	27	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Depreciation and amortization
687	669	646	627	602	513	440	424	409	379	378	326	318	289	262	289	283	282	267	246	235	232	248	209	183	173	165	153	152	148	150	150	146	145	144	154	158
Bad debts
35	-	-	-	36	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of bond premium, net
105	133	94	70	118	88	110	55	118	143	147	134	124	138	143	74	92	65	105	72	80	55	104	17	82	68	45	44	45	40	21	34	32	-12	39	99	23
Amortization of discount and issuance costs on long-term debt
44	44	44	44	44	44	44	44	36	5	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Stock-based compensation
487	384	407	399	309	220	197	176	108	72	70	68	59	17	23	34	32	4	51	38	38	53	91	13	13	19	27	4	8	9	9	10	19	20	21	23	40
Excess tax benefit from exercise of stock options
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-41	-54	-56	-7	-	-	-	-
Excess tax benefit from exercise of stock options
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2	0	221	-	4	70	0	-	-	-	-	-	-	-	-	-	-	-	-
Deferred income tax expense
397	142	-611	-2,032	510	-141	319	-212	28	-324	625	-335	32	-120	-47	-82	-43	52	-215	-54	-9	6	344	-181	-56	-115	-380	-104	-124	-185	-61	-30	-60	77	-226	-206	29
(Increase) decrease in operating assets:
Premiums receivable, net
-757	977	-605	709	286	-758	-852	1,271	-151	-3,313	268	1,397	79	-1,922	266	727	-99	-3,560	333	1,070	481	-3,091	75	1,147	512	-259	-164	229	370	-912	97	-628	-543	259	200	-474	-762
Receivables - reinsurance contracts
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	158	690	134	-1,102	682	209	-116	-974	0	0	0	2,668	755	-831	-857	-1,049	2,217	-982	-745
Reinsurance receivables, net
1,958	-14,596	-2,062	2,485	-209	5,652	-2,873	-4,003	3,376	10,905	-9,572	1,041	1,304	-870	-4,141	-475	4,560	8,708	-7,569	2,189	976	4,222	-9,099	892	5,970	4,120	1,591	-9,651	5,281	-11,720	-1,015	-982	-1,303	1,762	-2,600	-1,196	-1,127
Deferred policy acquisition costs
-1,062	-5,310	1,077	1,259	246	-5,336	1,051	941	282	-4,749	1,097	816	228	-2,601	484	570	141	-3,320	697	723	49	-3,909	648	802	333	-2,336	409	619	17	-172	-305	-376	-180	-120	-209	-326	-260
Other assets
521	-1,979	552	-3,337	3,666	-5,039	424	13	1,386	-1,447	392	-161	-11	-924	111	-469	666	207	23	170	-177	75	497	-252	-46	1,265	-221	-1,697	1,011	-296	-97	-272	-75	15	1	1,099	-240
Increase (decrease) in operating liabilities:
Loss and loss adjustment expense reserves
-2,647	3,089	7,734	564	12,913	2,254	4,685	-7,014	7,472	6,508	-1,905	-415	2,874	1,934	-4,532	-1,695	6,154	977	-2,349	-902	2,238	2,990	-2,781	-338	5,540	4,986	1,159	47	-2,175	8,202	1,485	865	1,452	-2,892	2,868	-708	1,501
Unearned premiums
-5,904	314	4,580	5,828	627	3,457	4,434	4,485	1,006	2,204	4,408	3,712	327	1,230	2,303	2,447	122	1,448	3,331	3,183	468	805	2,450	3,735	1,130	874	2,024	2,872	551	702	1,376	1,678	970	181	911	1,678	1,234
Advance premiums
47	2,713	-269	-403	-956	2,040	-56	-615	-738	721	83	-204	-543	1,069	-257	-57	-532	741	-173	31	-407	717	17	-114	-389	599	-203	-387	156	113	-52	-27	32	-92	31	-4	199
Reinsurance balances payable
-6,377	10,904	-1,997	1,604	-731	209	-2,461	1,167	453	751	-991	695	-37	-1,850	90	679	1,536	346	-1,407	731	-77	38	-1,823	899	415	-650	-2,120	-904	4,421	-1,344	-392	453	341	-160	-81	579	1,317
Advance payments from catastrophe reinsurers
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-7,358	7,358	0	0	0	-	-	-	-
Deferred ceding commission revenue
-799	5,906	-1,271	354	58	169	-2,241	411	81	312	-3,275	456	-78	198	-10	246	-18	365	-258	425	-53	267	-2,085	657	133	403	1,115	542	45	214	194	318	166	124	185	347	104
Accounts payable, accrued expenses and other liabilities
-1,576	1,583	525	426	616	725	826	779	-2,986	613	2,275	1,183	-2,032	14	672	882	-1,212	433	929	1,280	-1,257	687	427	511	-914	-656	1,270	-222	-244	-178	-3	-200	-1,054	1,989	235	12	-284
Net cash flows (used in) provided by operating activities
-15,256	10,321	8,737	8,098	2,702	4,098	12,244	5,572	380	7,156	13,516	5,316	2,056	1,726	5,661	5,139	2,672	7,677	9,367	2,522	834	7,019	5,919	3,989	404	2,208	3,463	-533	2,245	3,422	2,488	658	-194	1,462	3,763	780	1,246
Cash flows from investing activities:
Purchase - fixed-maturity securities available-for-sale
961	-5,794	3,505	5,772	6,094	-30,576	1,652	22,286	20,018	-	-	-	-	-	-	-	1,831	-	-	1,079	1,145	1,067	2,096	2,694	2,662	991	782	1,999	2,298	961	1,020	194	658	1,032	1,513	476	580
Purchase - fixed-maturity securities held-to-maturity
-	-	-	-	-	-	-	-	-	-	-	-	22,811	-	-	7,448	15,890	-	-	-	-	0	500	649	1,566	949	842	0	0	-	-	-	-	-	-	-	-
Purchase - equity securities
5,220	17,223	2,195	2,857	1,604	48,185	2,135	2,217	6,004	45,097	3,022	2,275	0	-	-	-	-	15,600	-3,953	4,156	3,349	4,785	8,203	5,440	10,396	3,871	3,604	503	1,146	4,637	1,349	809	105	5,110	307	2,407	1,658
Sale and redemption - fixed-maturity securities held-to-maturity
0	-	0	0	400	-	624	0	0	-	0	0	200	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Sale or maturity - fixed-maturity securities available-for-sale
10,553	-9,435	2,847	5,482	1,505	-17,115	2,567	7,281	7,891	-8,138	2,653	3,025	2,706	-16,374	2,059	7,913	6,401	4,897	544	418	716	1,730	1,448	1,466	2,176	576	716	3,034	1,522	1,555	929	804	1,032	497	954	2,079	0
Sale - equity securities
5,518	2,517	2,437	257	246	3,552	947	1,368	3,378	1,291	1,772	666	132	1,008	1,853	3,050	1,161	1,046	803	839	0	2,432	2,119	2,130	1,287	1,120	1,020	1,782	945	725	441	368	191	1,408	147	225	990
Acquisition of property and equipment
432	-	878	1,304	1,048	-	696	662	684	-	642	704	597	-	194	144	182	-	547	453	165	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other investing activities
-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Collections of notes receivable and accrued interest - sale of businesses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	7	6	6	217	80
Other investing activities
0	-	-	-	287	-	-	-	-	-	-	-	-	0	0	0	-250	-4	-3	0	-3	-5	-564	229	312	63	97	69	75	249	11	-0	11	39	125	18	4
Net cash flows provided by (used in) investing activities
9,458	-2,888	-1,294	-3,906	-6,884	-11,101	-344	-16,517	-15,438	-12,927	-1,033	-13,294	-20,370	-1,660	-7,381	-382	-10,091	-325	-6,204	-4,431	-3,940	-1,770	-7,337	-5,417	-11,473	-4,179	-3,589	2,243	-1,052	-3,569	-1,010	162	456	-4,268	-704	-380	-1,172
Cash flows from financing activities:
Net proceeds from issuance of common stock
-	-	-	-	-	-	-	-	-	0	0	0	30,136	0	-5	4,813	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from line of credit
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	80	130	100	175	415	0	50	300	0	0	0
Principal payments on line of credit
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	550	75	315	0	100	0	0	0	0
Principal payments on notes payable (includes $378,000 to related parties)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	707	6
Proceeds from exercise of stock options
-	-	-	-	-	16	27	17	29	11	27	6	33	41	12	0	0	-	-	-	-	-	-	-	-	-	-	-	-	0	0	5	41	0	0	0	0
Withholding taxes paid on net exercise of stock options
-	-	-	-	-	-	-332	0	-341	-	0	0	0	-	-	-	-	-	0	0	-243	-	0	-66	0	-	-	-	-	-	-	-	-	-	-	-	-
Withholding taxes paid on vested retricted stock awards
-87	-	-25	-6	-116	-	-18	-9	-12	-	-8	-8	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Withholding taxes paid on net exercise of stock options
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-0	2	0	221	62	4	70	0	-	-	-	-	-	-	-	-	-	-	-	-
Purchase of treasury stock
242	0	0	0	0	0	0	203	336	0	128	48	0	0	0	17	95	73	0	75	128	0	23	23	0	-	-	-	-	-	-	-	-	-	-	-	-
Excess tax benefit from exercise of stock options
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	7	-	-	-	-
Tax benefit from exercise of stock options
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Purchase of treasury stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	9	9	0	8	237	0	0	0
Dividends paid
675	674	673	1,077	1,075	1,074	1,070	1,066	1,068	850	850	849	663	494	494	494	457	458	366	366	365	365	364	291	290	152	152	153	153	153	153	113	113	115	115	0	0
Net cash flows used in financing activities
-1,006	-680	-699	-1,060	-1,191	-1,751	-1,394	-1,261	-1,729	28,272	-960	-900	29,505	-452	-487	4,301	-553	-532	-363	-441	-516	-370	-378	-310	-290	17,706	-72	-153	-603	-60	-55	-108	-122	-52	-115	-707	-6
Decrease in cash and cash equivalents
-6,804	6,752	6,743	3,131	-5,373	-8,755	10,505	-12,206	-16,787	22,501	11,522	-8,878	11,191	-386	-2,207	9,059	-7,972	6,819	2,799	-2,351	-3,623	4,878	-1,796	-1,738	-11,359	15,735	-198	1,556	588	-207	1,422	713	138	-2,857	2,943	-306	67
Supplemental disclosures of cash flow information:
Cash paid for income taxes
0	0	0	388	0	951	449	801	0	1,837	2,174	1,762	0	2,229	2,052	1,717	30	2,139	448	707	300	843	1,249	463	0	1,427	183	564	0	10	348	1,005	500	716	129	329	0
Cash paid for interest
0	825	0	825	0	825	0	875	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash paid for interest
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	32	37	0	39	3	36	-78	120	0	46	34	91
Value of shares deducted from exercise of stock options for payment of withholding taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	243	67	0	66	0	-	-	-	-	-	-	-	-	-	-	-	-