Mgic investment corp (MTG)
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'11Dec'10Sep'10Jun'10Mar'10
Cash flows from operating activities:
Net income

149,805

177,110

176,934

167,778

151,941

157,746

181,900

186,814

143,637

27,314

120,027

118,622

89,798

107,487

56,618

109,221

69,191

102,418

822,852

113,654

133,076

74,428

72,017

45,522

59,982

-1,407

12,114

12,375

-72,930

-386,691

-246,942

-273,891

-19,555

-135,294

-165,205

-151,732

-33,661

-186,667

-51,528

24,551

-150,091

Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization

13,052

13,006

12,314

11,556

11,908

12,948

13,872

15,562

15,833

15,548

15,691

16,112

17,079

17,018

15,847

14,368

14,109

14,198

14,423

12,627

11,311

10,632

11,360

11,980

14,889

15,604

16,082

14,659

22,858

22,909

25,721

26,809

24,696

24,662

20,897

19,709

19,560

17,313

15,744

15,198

12,627

Deferred tax expense

15,877

-18,724

585

-712

7,755

-331,969

52,969

53,040

39,388

-520,294

59,087

57,231

48,932

-273,547

23,034

54,887

33,270

1,390,987

-698,164

-2

-11

-648

93

157

86

-601

-10

13

8

-2,611

2,712

5

-72

-35,503

24,271

11,945

25

38,227

-25,564

-9,442

-3,146

Net realized investment losses

1,891

1,320

4,205

307

-526

-241

1,114

-1,897

-329

458

-50

-52

-125

-63

5,092

836

3,056

1,228

640

166

26,327

434

632

522

-231

2,126

189

2,485

1,259

-

-

-

-

-

-

-

-

-

-

-

-

Gain (Loss) on Extinguishment of Debt

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-75,223

-1,868

-13,440

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net investment impairment losses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,592

0

12,104

-6,052

Loss on repurchase of senior notes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-837

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Excess tax benefits related to share-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-455

0

2,568

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Increase in income taxes payable (current)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

8,546

Realized investment gains, excluding impairment losses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

77,561

-

11,405

21,734

5,761

13,401

153,836

-31,702

-32,954

Other

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-28,137

7,413

879

-

-28,627

38,118

-6,256

7,353

-7,810

19,650

2,609

6,311

-9,739

18,968

-302

112,290

-167,268

13,748

54,876

Change in certain assets and liabilities:
Accrued investment income

-2,763

1,385

48

1,573

-1,302

2,635

-1,759

2,002

-937

3,132

-1,102

244

-287

1,763

2,601

690

-1,205

3,363

2,300

2,447

1,596

35

1,453

-2,781

151

-2,590

1,087

1,873

4,047

-15,174

-4,568

-5,029

-3,652

-11,438

-451

-6,132

3,382

1,878

-20,742

7,798

1,543

Prepaid reinsurance premium

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-14

-34

-21

-57,898

7,966

2,496

3,393

3,969

2,190

1,828

27,428

4,509

3,544

-79

-

-

-

-

-

-

-

-

-

-1,059

217

212

Reinsurance recoverable on loss reserves

4,115

2,075

1,164

-13,473

-1,453

47

-3,770

-8,423

-3,000

2,596

1,095

-1,875

-3,835

3,630

1,648

4,096

-3,368

5,739

-14,708

-1,959

-2,426

-57

135

145

-6,467

-6,536

-13,277

-12,281

-8,669

-13,011

-8,973

-15,457

-12,318

-12,267

-39,296

-31,869

-37,251

-23,949

-25,673

-115

-7,200

Reinsurance recoverable on paid losses

-170

52

15,330

-13,834

-121

163

184

423

154

766

1,513

-1,022

-165

-332

141

-918

-536

956

1,643

48

458

26

1,067

1,514

1,394

3,952

-205

-889

2,322

1,121

2,383

-1,619

2,401

-4,571

16,939

6,189

-4,288

9,298

-26,476

-2,584

-5,101

Premium receivable

-2,147

3,783

-5,688

5,896

-3,494

3,450

-4,573

3,512

-1,344

107

2,594

-563

-485

4,971

819

-583

-1,284

-3,110

-889

-6,786

1,812

-2,888

7,396

-1,405

-7,962

-2,961

2,684

-10,063

4,813

-810

715

189

-3,339

-2,822

-822

-1,118

-3,732

-7,746

-1,183

-5,033

3,390

Deferred insurance policy acquisition costs

983

521

341

39

-258

-777

-142

-121

87

-183

347

441

477

351

728

734

705

244

837

909

1,011

590

974

522

433

-2,797

140

170

963

794

921

829

1,196

-191

-274

-126

-186

110

-1,666

483

333

Profit commission receivable

-1,121

-1,077

-4,844

-1,860

2,836

-3,619

-2,104

11,579

-377

-1,055

-704

1,208

3,395

-1,258

-788

3,553

-760

26,975

-142,457

27,483

23,474

22,548

111,281

-22,485

-22,212

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Real estate

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

5,761

-333

-2,143

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss reserves

19,419

-46,963

-19,605

-33,362

-18,755

-47,027

-91,969

-111,156

-61,464

-119,516

-81,938

-147,953

-103,771

-96,670

-96,850

-121,056

-140,013

-86,541

-130,818

-133,863

-152,183

-130,775

-919,626

158,965

226,842

-1,699,291

246,314

249,040

208,495

-52,842

104,589

100,580

348,342

234,048

291,342

388,592

412,677

294,921

841,959

-259,177

-56,884

Premium deficiency reserve

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

17,333

6,418

4,960

6,744

7,833

5,173

8,574

3,813

11,283

1,650

10,351

9,144

55,724

-14,183

11,709

12,388

11,034

9,019

-18,853

8,887

37,751

-13,566

Unearned premiums

-14,894

-12,254

-8,443

-3,505

-5,481

2,371

1,455

8,471

4,754

22,118

18,806

14,688

7,585

8,411

12,902

18,545

9,906

14,854

20,831

21,235

19,639

17,422

17,792

8,103

5,618

5,110

6,951

2,205

1,373

-1,297

-3,050

-4,188

-7,491

-11,837

-20,282

-13,676

-14,496

-19,021

-15,260

-15,614

-15,686

Return premium accrual

-400

-1,900

-2,300

-4,200

-3,100

-4,300

-6,400

-6,700

-5,500

-7,400

-6,100

-7,100

-4,800

-6,000

-5,500

-2,450

-4,850

-3,200

-2,900

-6,800

3,300

6,000

8,400

8,100

-300

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Current income taxes

22,527

9,822

-6,465

-33,283

30,983

-2,158

-53,457

-18,787

-3,149

16,322

1,983

-1,663

34,654

4,119

299

234

289

1,766

226

239

287

506

-428

-1,246

494

284

493

-1,078

899

88

6,388

-5,432

844

243

-2,317

-760

1,345

-

-

-

-

Other, net

19,934

-17,035

-3,428

-18,774

14,446

-1,547

-11,166

-7,612

5,587

-10,410

-3,911

1,490

12,703

30

-22,427

13,930

-5,840

-8,344

45,801

-13,238

-14,691

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by operating activities

184,324

151,369

176,552

116,730

164,881

160,970

120,954

128,627

133,966

150,301

130,800

48,087

77,469

75,774

93,993

51,457

3,536

26,364

194,922

-27,183

-32,708

-67,611

-58,525

-121,254

-157,887

-278,095

-183,997

-256,910

-251,709

-396,078

-318,414

-430,493

-423,615

-467,850

-438,539

-556,529

-420,933

-422,022

-269,617

13,258

-197,049

Cash flows from investing activities:
Purchases of investments

280,614

351,123

365,612

328,645

348,746

384,624

558,137

307,215

209,497

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sales of investments

224,803

28,427

17,749

77,610

106,010

31,510

313,754

14,341

10,844

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Fixed income securities

-

-

-

-

-

-

-

-

-

-

-

-

187,077

-

382,586

435,136

288,273

492,442

471,083

558,452

940,867

430,034

495,316

472,306

582,261

578,824

487,567

1,206,656

975,555

1,694,393

209,531

1,288,241

1,833,039

1,976,079

536,366

980,916

900,110

1,681,302

951,057

1,262,934

1,330,501

Equity securities

-

-

-

-

-

-

-

-

-

-

-

-

19

-

1,187

19

3,109

30

2,554

21

18

35

19

21

19

42

18

33

18

62

19

30

21

42

22

24

38

74

26

26

30

Proceeds from sales of fixed income securities

-

-

-

-

-

-

-

-

-

-

-

-

33,980

-

69,118

333,849

315,927

268,473

308,992

422,720

795,968

244,964

183,722

299,645

419,293

452,923

118,891

122,052

361,119

2,051,037

467,072

1,179,064

1,519,761

2,313,070

610,789

1,192,461

625,893

1,074,310

729,830

1,496,625

986,547

Proceeds from maturity of fixed income securities

222,544

211,418

208,929

124,889

202,929

190,496

170,746

268,328

155,605

211,513

157,355

191,110

199,234

114,887

119,073

173,621

139,863

127,446

133,710

106,155

192,463

214,622

264,997

354,280

295,188

236,876

341,256

496,195

282,701

323,584

260,112

261,223

617,036

315,366

270,005

323,228

498,726

96,931

291,503

194,697

157,828

Proceeds from sale of equity securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,900

0

2,525

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net (decrease) increase in payables for securities

-

-

-

-

-

-

-

-

-

3,738

-291

6,889

-10,336

3,376

21,143

19,770

-44,289

-

-6,358

-41,063

-699

7,232

-7,249

12,696

-12,692

304

-98,185

141,303

-43,435

-13,133

31,961

7,877

-26,685

5,737

412

721

-4,642

12,290

30,099

-29,075

-15,589

Net increase in restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-17,212

5

4

-241

4

-42,908

15

60,333

0

-

-

-

-

-

-

-

-

-

-

-

-

Additions to property and equipment

580

1,557

799

2,972

308

3,579

2,403

3,048

5,208

3,945

2,462

5,645

4,014

5,583

2,245

808

1,916

1,795

1,124

1,135

576

709

7,214

-245

-2,971

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by (used in) investing activities

166,153

-113,142

-139,733

-129,118

-40,115

-209,569

-45,793

-14,162

-48,256

-301,112

-7,948

-47,021

52,440

-139,365

-215,070

51,737

209,306

-146,468

-25,701

10,330

64,881

21,571

-40,153

168,898

141,918

152,717

70,732

-790,078

-288,318

693,299

485,673

144,139

330,422

646,578

343,994

534,532

229,113

-438,925

40,151

457,437

-170,567

Cash flows from financing activities:
Proceeds from revolving credit facility

-

-

-

-

-

-

-

-

-

0

0

0

150,000

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchase or repayment of convertible senior notes

-

-

-

-

-

-

-

-

-

-

-

-

-

0

180,932

48,741

134,105

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payment of original issue discount - convertible senior notes

-

-

-

-

-

-

-

-

-

-

-

-

-

0

5,595

1,507

4,148

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchase of convertible junior subordinated debentures

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

100,860

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payment of original issue discount-convertible junior subordinated debentures

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

41,540

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash portion of loss on debt extinguishment

-

-

-

-

-

-

-

-

-

-

-

-

-

0

44,152

1,868

13,440

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net proceeds from convertible senior notes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-72

27

484,670

0

0

0

0

-

-

-

-

-

-

-

-

Common stock shares issued

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-57

-150

663,542

0

0

0

0

-

-

-

-

-

-

-

-

Purchase of convertible senior notes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

0

0

21,767

0

0

17,235

0

-

-

-

-

-

-

-

-

-

-

-

-

Purchase of convertible junior subordinated debentures-liability component

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchase of convertible junior subordinated debentures-equity component

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repurchase of common stock

119,997

20,000

69,185

24,941

11,640

63,360

0

100,059

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from issuance of long-term debt

-

-

-

-

-

-

-

-

-

-

-

-

-

0

418,094

0

155,000

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Dividends paid

21,111

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payment of debt issuance costs

-

-

-

-

-

-

-

-

-

0

0

107

1,523

189

938

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payment of withholding taxes related to share-based compensation net share settlement

8,899

0

74

0

5,652

0

58

0

8,073

39

59

1

6,722

23

34

2

4,971

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net common stock issued under share-based compensation plans

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Excess tax benefits related to share-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-455

0

2,568

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Effect of exchange rate changes on cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,931

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in financing activities

-150,007

-40,925

-90,248

-24,941

-17,292

-63,360

-58

-100,059

-8,073

-39

-59

-300,232

141,755

-55,742

94,846

-52,118

-144,064

-83,312

-455

0

2,568

0

0

0

-21,767

0

-129

-17,358

1,148,212

0

0

-53,107

0

-49,543

-77,409

-51,769

0

-1,000

-1

1,106,750

0

Net increase in cash and cash equivalents and restricted cash and cash equivalents

200,470

-2,698

-53,429

-37,329

107,474

-111,959

75,103

14,406

77,637

-150,850

122,793

-299,166

271,664

-119,333

-26,231

51,076

68,778

-203,416

168,766

-16,853

34,741

-46,040

-98,678

45,713

-35,805

-125,378

-113,394

-1,064,346

608,185

297,221

167,259

-339,461

-93,193

129,185

-171,954

-73,766

-191,820

-861,947

-229,467

1,577,445

-367,616