Navigators group inc (NAVG)
CashFlow / Yearly
Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09Dec'08
Operating Activities:
Net Income (Loss)

34,239

40,494

82,726

81,057

95,329

63,466

63,762

25,597

69,578

63,158

51,692

Adjustments to Reconcile Net Income (Loss) to Net Cash Provided by Operating Activities:
Depreciation & Amortization

3,675

3,645

5,429

5,386

4,915

4,518

5,931

4,059

4,362

4,551

4,761

Amortization of Finite-Lived Intangible Assets

657

0

0

-

-

-

-

-

-

-

-

Share-Based Compensation

6,786

13,829

17,624

14,997

11,507

-

-

-

-

-

-

Deferred Income Taxes

-14,366

-8,879

-5,755

7,004

16,881

4,658

-11,414

6,224

17,189

-2,285

-16,522

Total Net Realized and Unrealized (Gains) Losses

-30,348

43,009

9,036

8,373

12,812

22,939

41,074

11,996

41,319

9,217

38,299

Net Other-Than-Temporary Impairments Recognized in Earnings

-

-

-

1,698

0

2,393

858

1,985

1,080

11,877

-

Call premium on redemption of Senior notes

-

-

-

-

-

-17,895

-

-

-

-

-

Changes in Assets and Liabilities:
Reinsurance Recoverable on Paid and Unpaid Losses and Loss Adjustment Expenses

39,224

20,399

2,835

-43,822

42,024

-68,599

40,185

-10,084

17,359

-42,781

48,314

Reserves for Losses and Loss Adjustment Expenses

198,818

225,132

87,083

43,010

114,563

-51,977

-14,369

-98,879

-67,701

-54,050

-237,817

Prepaid Reinsurance Premiums

-4,346

15,168

-19,211

-5,264

-10,344

26,807

56,853

7,477

-5,298

-27,788

3,701

Unearned Premiums

104,781

100,160

66,668

54,509

52,380

72,199

109,778

69,602

-10,990

-8,872

20,183

Premiums Receivable

31,308

45,035

30,070

-65,863

17,455

4,843

64,457

75,973

-4,415

20,447

14,369

Deferred Policy Acquisition Costs

22,969

15,552

27,677

12,531

12,445

6,002

-2,979

8,815

-1,212

8,394

-2,627

Accrued Investment Income

2,712

2,139

1,314

1,210

925

1,279

-1,905

-961

-1,856

11

1,822

Reinsurance Balances Payable

8,875

27,362

1,568

-45,124

-14,716

1,439

57,114

2,865

7,450

-42,808

-10,048

Current Income Tax Receivable, Net

-17,674

-3,966

1,988

8,072

-582

-16,432

17,523

-17,226

3,092

-12,094

-798

Other

-42,718

-936

-27,791

13,654

-17,532

-31,987

-36,503

-19,569

-4,656

-3,833

14,530

Net Cash Provided by Operating Activities

342,338

265,343

229,425

233,646

222,492

136,875

96,739

118,338

118,221

103,910

245,275

Investing Activities:
Fixed Maturities
Redemptions and Maturities

418,367

373,380

275,706

180,876

210,674

237,627

188,282

166,657

206,461

135,374

131,674

Sales

358,309

225,962

446,666

376,522

362,136

648,335

1,319,404

666,976

1,191,796

473,913

186,106

Purchases

887,996

1,008,537

962,419

648,059

864,902

899,930

1,711,080

803,568

1,439,725

728,216

473,295

Equity Securities
Sales

34,617

207,838

54,798

96,405

54,900

72,113

39,503

73,590

6,942

18,899

22,041

Purchases

126,746

62,887

92,329

215,405

83,845

89,288

37,587

75,894

23,123

21,947

40,746

Net Sales and Purchases of Other Invested Assets

19,097

933

7,519

-

-

-

-

-

-

-

-

Net Sales, Maturities and Purchases of Short-Term Investments

4,179

-2,487

-88,349

-

-

-

-

-

-

-

-

Net Change in Unsettled Security Transactions

2,194

-2,135

1,517

-

-

-

-

-

-

-

-

Purchase of Subsidiaries, Net of Acquired Cash

22,383

0

0

-

-

-

-

-

-

-

-

Change in Net Payable for Securities

-

-

-

-1,851

7,814

46,414

-56,543

-12,432

-1,043

15,836

112

Purchase of Other Invested Assets

-

-

-

0

-

-

-

-

-

-

-

Net Change in Short-Term Investments

-

-

-

38,468

-117,740

142,214

31,568

-30,384

-22,713

-47,821

61,431

Net Purchase of Property and Equipment

8,845

3,474

3,918

3,577

8,359

10,088

3,336

4,571

2,568

2,781

7,548

Net proceeds from debt offering

-

-

-

-

-

263,278

-

-

-

-

-

Redemption of 7.0% Senior notes due May 1, 2016

-

-

-

-

-

132,437

-

-

-

-

-

Net Cash Provided by (Used in) Investing Activities

-260,147

-264,029

-202,183

-249,855

-219,470

-229,859

-179,839

66,006

-36,461

-92,773

-243,311

Financing Activities:
Purchase of treasury stock

-

-

-

-

-

-

-

90,866

51,980

6,756

11,540

Purchase of Senior notes

-

-

-

-

-

-

-

-

-

7,000

-

Proceeds from Employee Stock Purchase Plan

2,008

2,076

1,840

1,352

1,067

821

672

945

868

727

963

Proceeds of Stock Issued from Exercise of Stock Options

-

-

-

29

153

2,495

404

1,169

611

944

3,014

Payment of Employee Tax Withholding on Stock Compensation

8,456

13,887

5,198

6,022

-

-

-

-

-

-

-

Dividends Paid

8,319

6,633

3,930

0

-

-

-

-

-

-

-

Effect of Exchange Rate on Cash

-

-

-

0

-

-

-

-

-

-

-

Net Cash Used in Financing Activities

-14,767

-18,444

-7,288

-4,641

1,220

134,157

1,076

-88,752

-50,501

-12,085

-7,563

Effect of Exchange Rate on Unrestricted and Restricted Cash and Cash Equivalents

-4,234

3,248

-15,963

-

-

-

-

-

-

-

-

Change in Unrestricted and Restricted Cash and Cash Equivalents

63,190

-13,882

3,991

-20,850

4,242

41,173

-82,024

95,592

31,259

-948

-5,599

Supplemental Information:
Income Taxes Paid, Net

21,422

39,689

34,830

35,447

27,066

41,094

19,602

14,145

6,398

37,089

34,990

Interest Paid

15,238

15,238

15,238

15,238

15,703

8,050

8,050

8,050

8,050

8,355

8,750

Issuance of Stock to Directors

783

578

633

563

438

400

242

210

190

210

200