MERCURY GENERAL CORPORATION MCY Cash Flow

Mercury general corporation (MCY)

CashFlow / TTM

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
CASH FLOWS FROM OPERATING ACTIVITIES
Net Income (Loss) Attributable to Parent
45,000	320,100	206,500	195,800	172,807	-5,700	96,002	83,887	75,313	144,900	99,016	79,461	76,701	73,044	122,531	110,875	71,637	74,479	30,118	46,140	131,465	177,949	214,281	222,555	118,331	112,143	79,385	106,016	110,016	116,911	213,762	143,779	206,294	191,164	88,048	188,679	149,245	152,198	0	0	0
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization
65,671	64,730	62,473	61,383	59,728	58,791	57,456	56,390	56,226	55,343	55,295	54,865	53,645	53,258	67,451	60,006	53,609	47,838	27,876	28,410	28,401	28,054	27,017	27,062	28,530	30,587	32,786	35,193	36,275	36,974	37,964	38,783	39,753	40,657	41,659	44,228	42,593	40,735	0	0	0
Realized Investment Gains (Losses)
-139,600	222,800	112,600	75,300	36,300	-133,500	-31,034	-6,316	540	83,700	-22,894	-59,077	-34,852	-34,255	46,761	35,940	-48,789	-83,807	-97,224	-91,027	24,511	81,184	98,544	134,845	-8,760	-11,422	-19,429	14,111	57,767	66,380	151,518	34,847	82,370	58,397	-38,146	115,212	63,735	57,089	0	0	0
Bond amortization, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	21,547	20,153	19,978	18,918	18,520	16,928	13,947	12,529	8,803	8,490	7,947	6,757	7,157	5,892	4,883	4,615	5,561	4,967	1,905	1,062	0	0	0
Excess tax benefits related to share-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	85	249	230	148	0	0	0	-	-	-	-	86	132	140	68	56	112	122	127	132	0	0	0
Increase in premiums receivable
45,221	49,832	71,832	65,452	70,785	80,979	72,136	58,199	30,832	14,908	11,282	9,004	12,608	22,531	32,525	46,207	48,414	41,512	41,273	24,382	19,700	23,934	22,870	28,327	24,220	20,688	26,501	38,623	58,393	56,588	48,133	30,432	13,589	7,819	7,462	7,094	34,328	4,192	0	0	0
Decrease in reinsurance recoverables
-44,123	-142,314	50,029	78,734	61,824	164,739	42,661	35,950	40,062	43,043	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Changes in current and deferred income taxes
294	-72,545	-27,669	-40,492	-34,527	13,898	2,700	21,407	22,665	3,010	6,475	6,327	2,194	2,130	-23,029	-6,664	26,553	35,287	44,111	56,545	8,402	-8,343	-13,325	-52,688	10,000	-3,451	4,173	-5,366	-2,328	83	-34,070	13,993	-48,837	-45,431	7,003	-42,623	-810	-11,399	0	0	0
Increase in deferred policy acquisition costs
14,920	18,035	21,215	17,892	17,514	16,980	14,560	10,205	2,683	-2,675	-4,838	-4,923	-4,039	-936	1,512	4,688	4,464	4,560	3,807	88	-2,217	2,736	5,154	9,618	10,474	8,556	9,971	10,484	15,452	14,480	11,680	7,563	4,747	851	-1,789	-2,342	-6,296	-5,287	0	0	0
Increase in loss and loss adjustment expense reserves
110,333	91,843	275,157	234,074	256,639	318,799	207,890	222,887	214,040	220,365	127,611	116,171	141,965	143,560	113,000	96,860	69,091	36,214	49,963	42,225	53,277	52,813	1,201	-12,180	-28,905	2,861	-32,114	-28,715	-55,032	-50,844	305	2,663	36,333	48,926	6,424	18,793	93,228	19,129	0	0	0
Increase in unearned premiums
111,142	119,366	143,189	124,229	123,317	134,254	120,803	97,172	55,542	27,490	17,822	13,457	16,231	25,124	38,828	53,523	52,944	42,552	43,741	26,189	25,142	46,271	45,299	55,350	45,149	33,098	46,044	55,671	82,391	77,002	55,068	35,201	12,868	10,048	9,262	2,387	-3,335	-11,161	0	0	0
Increase in accounts payable and accrued expenses
13,391	26,493	15,722	13,600	4,567	6,586	8,190	12,300	10,999	-4,178	10,846	4,648	4,126	-10,586	-19,749	-12,474	-1,956	-35,086	-2,458	8,041	6,387	31,019	7,586	2,896	-919	30,367	33,393	16,525	12,840	1,197	-5,399	-8,663	1,443	-9,985	-33,184	-20,796	-19,584	-9,054	0	0	0
Share-based compensation
142	123	129	134	138	145	104	67	48	60	95	127	142	142	-2,697	-2,183	-866	142	4,317	5,439	4,757	4,112	3,499	2,143	1,343	974	274	355	304	370	605	500	878	899	614	730	719	812	0	0	0
(Decrease) increase in other payables
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	13,910	7,826	3,375	-10,988	-11,650	-5,031	5,732	12,135	1,184	8,954	-1,420	2,545	-18,298	-4,644	-9,789	-4,142	22,578	4,622	10,324	-23,186	0	0	0
Other, net
-26,847	-27,163	-3,390	32,660	14,520	13,663	551	510	33,163	42,462	33,429	40,816	-2,473	-4,392	21,301	17,441	27,550	21,773	-1,217	-2,855	-3,493	-1,954	-3,991	-6,105	-9,552	-10,317	-7,350	-5,966	-1,730	-6,181	-7,406	-6,362	-10,428	-4,113	4,985	4,234	7,387	4,231	0	0	0
Net cash provided by operating activities
442,137	519,678	471,832	464,982	479,770	383,434	390,135	350,735	345,533	341,405	354,328	360,631	316,116	291,678	255,379	222,874	228,604	190,271	195,745	191,335	208,541	246,535	239,584	241,735	201,052	209,804	204,449	195,139	171,577	148,062	105,755	114,848	157,632	158,525	158,457	132,795	94,476	91,781	0	0	0
CASH FLOWS FROM INVESTING ACTIVITIES
Fixed maturity securities available for sale in nature:
Purchases
679,720	491,795	543,830	606,887	638,869	706,224	754,364	688,001	670,051	734,397	862,385	1,026,701	969,303	1,077,638	901,222	937,595	977,747	965,701	956,436	730,393	739,568	542,494	599,678	732,250	799,536	831,796	829,626	760,920	670,757	590,562	500,577	456,849	452,354	379,963	343,310	428,382	377,879	432,869	0	0	0
Sales
144,866	136,560	96,767	124,798	144,265	189,306	162,160	153,975	138,438	100,709	252,827	289,487	269,531	396,766	280,131	363,602	393,957	260,946	245,485	153,088	152,502	209,680	231,478	237,466	292,459	228,116	234,076	200,819	113,612	139,860	100,325	123,936	156,644	217,535	254,256	280,039	242,793	204,543	0	0	0
Calls or maturities
278,404	316,860	349,454	317,858	352,052	334,626	383,238	472,567	479,255	575,735	661,801	617,584	626,087	647,059	525,070	533,757	479,404	386,644	400,083	354,677	358,369	330,637	325,067	296,998	321,720	343,628	432,720	502,848	537,135	528,886	452,978	457,409	408,983	418,616	347,410	285,797	295,242	285,454	0	0	0
Equity securities available for sale in nature:
Purchases
1,280,005	1,174,759	1,101,325	1,083,498	1,034,346	1,026,827	983,618	959,873	884,759	831,310	805,055	745,411	746,433	714,113	710,361	676,953	665,540	748,217	734,933	766,350	871,510	868,383	840,288	780,882	671,513	596,883	584,487	540,193	486,200	358,216	295,011	265,816	265,991	351,198	392,703	397,029	371,000	272,519	0	0	0
Sales
1,130,234	1,088,701	1,119,348	1,045,457	960,926	954,755	840,437	793,660	758,332	679,571	677,305	689,343	684,720	696,138	662,689	634,013	692,515	805,417	864,250	836,393	854,780	745,058	718,642	941,185	869,453	872,997	782,145	524,498	394,400	277,272	228,923	209,244	243,758	325,562	358,107	356,695	328,040	240,764	0	0	0
Calls
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0	-	-	-	-
Changes in securities payable and receivable
9,573	2,536	5,841	5,778	-399	-4,035	8,619	2,803	-14,061	44,740	9,788	-2,672	8,324	-29,958	-22,543	-3,009	16,007	1,387	-8,258	-18,840	-23,610	-9,294	-39,998	39,078	-11,473	-1,702	40,679	-29,717	8,805	-1,919	5,335	27,080	5,598	9,137	-1,453	-25,223	4,008	-10,763	0	0	0
Change in short-term investments and purchased options
-127,707	240,391	162,281	94,412	124,650	-45,747	-121,841	-201,200	-14,821	-73,005	176,350	286,259	47,150	191,530	47,148	-405,300	-357,026	-187,492	-177,532	189,803	242,944	56,530	1,179	-22,065	-110,157	20,005	87,053	130,930	192,261	58,949	217,422	146,212	71,033	93,737	-90,275	-35,102	22,703	12,815	0	0	0
Purchases of fixed assets
41,963	40,088	39,134	35,685	30,183	27,959	25,817	22,034	22,224	19,443	18,380	18,601	15,808	16,979	16,602	17,749	18,780	20,112	21,541	25,131	25,520	26,037	26,568	22,514	20,615	18,671	15,955	15,763	15,526	15,177	17,671	16,270	16,275	18,079	19,356	23,163	27,411	28,886	0	0	0
Sale of fixed assets
-	-	-	-	-	-	-	-	-	-	-	-	-	14	8	39	85	141	151	121	131	224	419	574	824	820	790	1,104	1,358	2,044	1,932	1,930	3,269	2,990	4,093	3,728	1,885	1,341	0	0	0
Business acquisition, net of cash acquired
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	7,771	7,771	7,771	7,771	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other, net
-9,616	-6,247	-7,013	-7,558	-8,482	-10,105	-8,015	-6,674	-4,419	-1,934	-2,402	-2,649	-3,217	-3,605	-3,368	-3,435	-2,278	-2,473	-2,867	-3,296	-3,774	-3,472	-3,090	-1,885	-1,854	-1,741	-1,898	-2,058	-1,978	-2,255	-4,781	-7,200	-8,997	-12,026	-12,435	-10,139	-11,374	-6,868	0	0	0
Net cash used in investing activities
-320,434	-401,201	-279,829	-330,589	-361,924	-222,436	-275,099	-231,208	-154,369	-185,597	-245,901	-278,667	-261,623	-226,720	-181,051	-124,285	-89,026	-81,682	-50,667	-67,523	-104,733	-194,035	-186,671	-158,691	-144,048	-18,351	-49,963	-42,800	-58,442	-69,745	1,216	-6,635	-34,085	124,615	132,110	82,771	126,565	33,100	0	0	0
CASH FLOWS FROM FINANCING ACTIVITIES
Dividends paid to shareholders
139,220	139,071	138,922	138,773	138,622	138,478	138,335	138,192	138,040	137,886	137,721	137,545	137,372	137,201	136,986	136,781	136,588	136,386	136,218	135,992	135,740	135,496	135,270	135,097	134,946	134,776	134,603	134,435	134,268	134,105	133,931	133,331	132,729	132,142	131,562	130,996	130,431	129,863	0	0	0
Employee taxes paid with shares related to share-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	3,292	-3,375	-3,309	-3,285	0	85	249	230	148	0	0	0	-	-	-	-	86	132	140	68	56	112	122	127	132	0	0	0
Proceeds from stock options exercised
248	701	609	949	811	358	340	991	991	2,162	3,088	2,803	2,803	1,632	706	0	828	2,111	6,558	8,240	7,446	6,247	1,864	240	1,530	1,446	1,776	1,718	1,420	2,492	3,239	3,408	2,525	1,951	852	899	1,042	733	0	0	0
Net proceeds from issuance of senior notes
-	-	-	-	-	-	-	-	-	371,011	371,011	371,011	371,640	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payoff of principal on loan and credit facilities
-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from bank loan
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	100,000	110,000	130,000	130,000	50,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in financing activities
-138,972	-138,370	-138,313	-137,824	-137,811	-138,120	-137,995	-137,201	-137,678	-84,713	-53,645	-53,820	-53,018	-108,861	-139,655	-140,090	-139,045	-134,275	-129,575	-107,503	-108,064	-29,101	-23,293	-4,902	-3,214	-83,128	-92,599	-132,495	-132,794	-131,527	-128,560	-252,783	-253,136	-253,135	-255,598	-129,975	-129,262	-128,998	0	0	0
Net decrease in cash
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net (decrease) increase in cash
-	-	-	-	-	22,878	-22,959	-17,674	53,486	71,095	54,782	28,144	1,475	-43,903	-65,327	-41,501	533	-25,686	15,503	16,309	-4,256	23,399	29,620	78,142	53,790	108,325	61,887	19,844	-19,659	-53,210	-21,589	-144,570	-129,589	30,005	34,969	85,591	91,779	-4,117	0	0	0
SUPPLEMENTAL CASH FLOW DISCLOSURE
Interest paid
16,587	16,586	16,586	16,633	16,604	16,586	16,567	16,821	16,821	9,863	10,597	3,003	3,945	3,531	3,558	3,369	3,175	2,989	2,931	2,831	2,758	2,543	2,042	1,568	1,107	998	1,167	1,345	1,519	1,690	2,226	3,838	4,603	6,193	6,436	6,632	6,650	6,607	0	0	0
Income taxes paid, net
-14,600	-14,564	967	-11,708	-10,959	-10,989	90	18,852	24,173	25,218	13,793	6,607	789	-183	379	9,016	21,671	31,390	32,475	53,737	52,200	61,139	59,249	29,286	34,801	16,503	6,454	6,820	11,966	18,481	37,330	45,929	15,048	8,503	3,264	6,963	27,958	18,792	0	0	0
Net realized gains from sale of investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0