Navigators group inc (NAVG)
CashFlow / TTM
Mar'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
Operating Activities:
Net Income (Loss)

1,623

34,239

94,468

61,864

50,262

40,494

35,224

85,216

80,904

82,726

78,878

75,066

78,060

81,057

82,589

95,613

93,290

95,329

90,387

80,448

77,524

63,466

77,177

68,806

69,768

63,762

45,806

46,789

41,394

25,597

32,847

35,174

44,640

69,578

0

0

0

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

4,116

3,675

2,841

2,812

3,268

3,645

4,801

5,024

5,154

5,429

5,708

5,778

5,794

5,386

5,263

4,857

4,782

4,915

4,986

5,047

4,677

4,518

5,372

5,844

5,902

5,931

4,716

4,015

4,137

4,059

3,966

4,109

4,092

4,362

0

0

0

Amortization of Finite-Lived Intangible Assets

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Share-Based Compensation

8,094

6,786

12,882

10,654

10,348

13,829

12,055

17,361

17,165

17,624

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred Income Taxes

-12,563

-14,366

4,179

1,178

-286

-8,879

-12,609

-13,472

-14,544

-5,755

123

1,660

6,330

7,004

8,196

19,100

17,852

16,881

14,414

7,164

5,922

4,658

-3,357

-4,071

-6,567

-11,414

-5,623

-2,529

1,260

6,224

3,934

3,704

14,159

17,189

0

0

0

Total Net Realized and Unrealized (Gains) Losses

-1,174

-30,348

40,808

41,370

41,041

43,009

9,761

8,222

7,395

9,036

3,063

1,995

4,374

8,373

11,241

17,441

17,575

12,812

27,792

20,086

18,958

22,939

37,425

43,174

44,046

41,074

17,960

16,437

15,227

11,996

24,522

26,040

45,962

41,319

0

0

0

Net Other-Than-Temporary Impairments Recognized in Earnings

-

-

-

-

-

-

-

-

-

-

150

1,425

1,698

1,698

0

0

0

-

-

-

-

2,393

2,071

250

746

858

1,238

1,861

1,898

1,985

0

0

0

-

-

-

-

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

74,344

39,224

-37,055

27,729

1,424

20,399

36,041

-30,015

22,068

2,835

19,194

-25,970

-35,406

-43,822

-52,499

20,682

12,099

42,024

58,665

-50,476

-51,554

-68,599

-35,179

49,036

18,612

40,185

-16,279

-30,777

-15,483

-10,084

44,598

60,416

48,124

17,359

0

0

0

Reserves for Losses and Loss Adjustment Expenses

258,655

198,818

60,012

200,636

189,821

225,132

260,477

61,334

119,543

87,083

105,904

149,300

70,144

43,010

6,343

-6,646

139,033

114,563

25,598

60,090

-87,039

-51,977

29,236

-27,860

8,619

-14,369

-35,475

-61,760

-84,113

-98,879

-121,741

-100,921

-111,417

-67,701

0

0

0

Prepaid Reinsurance Premiums

-105

-4,346

1,853

-1,185

4,219

15,168

8,283

15,945

3,866

-19,211

-29,598

-37,597

-23,529

-5,264

15,382

13,333

-1,919

-10,344

-16,702

-4,742

12,995

26,807

28,584

39,957

60,560

56,853

54,670

34,601

9,048

7,477

14,295

14,721

5,795

-5,298

0

0

0

Unearned Premiums

123,002

104,781

127,256

112,510

108,776

100,160

92,543

98,348

85,236

66,668

50,571

47,439

37,687

54,509

74,697

55,734

26,710

52,380

57,290

72,585

81,286

72,199

80,994

95,647

118,049

109,778

106,807

100,885

91,231

69,602

42,009

30,313

15,298

-10,990

0

0

0

Premiums Receivable

39,475

31,308

36,019

34,672

31,872

45,035

29,284

54,755

32,336

30,070

-16,827

-38,502

-47,441

-65,863

-19,838

-9,999

-20,317

17,455

7,475

22,727

16,278

4,843

4,518

18,836

54,601

64,457

109,738

111,499

103,282

75,973

45,824

50,183

25,230

-4,415

0

0

0

Deferred Policy Acquisition Costs

20,009

22,969

26,841

24,406

25,341

15,552

18,330

19,403

20,840

27,677

27,336

28,489

19,138

12,531

12,691

7,930

6,887

12,445

13,097

11,866

9,985

6,002

1,890

600

-652

-2,979

-690

4,244

6,166

8,815

1,734

-1,999

472

-1,212

0

0

0

Accrued Investment Income

3,079

2,712

1,547

2,063

2,594

2,139

3,580

2,019

1,656

1,314

711

1,605

1,766

1,210

1,054

-7

464

925

1,329

888

581

1,279

-429

-388

-888

-1,905

-578

-123

-1,385

-961

-647

-1,007

-719

-1,856

0

0

0

Reinsurance Balances Payable

35,475

8,875

19,340

7,428

10,707

27,362

1,780

-4,784

-4,998

1,568

-7,285

-25,515

-30,816

-45,124

-23,768

-3,837

9,205

-14,716

-23,252

-24,422

-20,337

1,439

11,023

39,605

34,449

57,114

56,400

18,940

-890

2,865

15,897

31,004

44,933

7,450

0

0

0

Accounts payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Current Income Tax Receivable, Net

-13,050

-17,674

-23,374

8,079

8,881

-3,966

33,450

-8,935

-26,401

1,988

1,272

13,601

7,975

8,072

-7,251

-4,800

2,092

-582

-12,668

-18,186

-4,773

-16,432

15,773

20,217

5,424

17,523

-5,405

-12,044

-6,832

-17,226

-4,518

6,134

-514

3,092

0

0

0

Other

-40,670

-42,718

-35,342

-16,305

-6,239

-936

1,488

4,228

-15,798

-27,791

-15,772

-9,441

11,565

13,654

-9,012

-17,865

-23,858

-17,532

-12,080

-9,181

-22,132

-31,987

-34,604

-27,253

-31,917

-36,503

-26,546

-35,185

-21,961

-19,569

-3,304

-3,381

-4,843

-4,656

0

0

0

Net Cash Provided by Operating Activities

337,475

342,338

309,681

275,160

263,763

265,343

260,876

183,835

223,916

229,425

265,802

349,454

281,413

233,646

200,255

147,030

208,735

222,492

188,260

166,538

141,405

136,875

157,612

130,196

84,680

96,739

101,139

118,981

121,417

118,338

90,427

68,240

127,389

118,221

0

0

0

Investing Activities:
Fixed Maturities
Redemptions and Maturities

314,165

418,367

481,628

466,621

463,198

373,380

301,470

313,444

316,759

275,706

261,566

230,701

188,631

180,876

174,673

184,963

197,373

210,674

256,967

220,125

259,700

237,627

197,823

212,277

169,228

188,282

220,411

168,734

157,508

166,657

129,427

217,539

228,362

206,461

0

0

0

Sales

331,988

358,309

379,373

402,526

301,078

225,962

268,582

316,543

382,959

446,666

480,316

349,635

355,697

376,522

315,625

414,061

373,960

362,136

324,377

437,026

393,926

648,335

1,051,130

1,204,285

1,407,965

1,319,404

1,107,846

732,514

898,399

666,976

1,283,405

1,213,570

1,068,497

1,191,796

0

0

0

Purchases

816,509

887,996

1,145,388

1,151,523

1,079,217

1,008,537

746,351

803,637

960,379

962,419

977,629

860,086

695,582

648,059

592,725

723,094

735,604

864,902

905,173

854,208

800,595

899,930

1,227,801

1,454,914

1,698,838

1,711,080

1,535,612

1,045,711

1,107,161

803,568

1,436,706

1,415,064

1,326,951

1,439,725

0

0

0

Equity Securities
Sales

29,207

34,617

181,453

197,108

209,511

207,838

77,553

66,096

57,390

54,798

56,935

60,548

68,786

96,405

76,460

108,114

85,308

54,900

115,502

71,506

75,261

72,113

0

0

0

-

-

-

-

73,590

5,980

8,150

6,942

6,942

0

0

0

Purchases

91,938

126,746

123,408

118,284

88,194

62,887

95,486

75,453

88,220

92,329

95,293

173,433

218,686

215,405

196,671

125,708

70,692

83,845

101,060

89,201

104,835

89,288

85,953

72,284

45,458

37,587

10,811

74,235

77,925

75,894

71,222

11,418

15,873

23,123

0

0

0

Net Sales and Purchases of Other Invested Assets

18,551

19,097

10

-581

2,948

933

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net Sales, Maturities and Purchases of Short-Term Investments

3,294

4,179

-2,212

-2,690

-4,055

-2,487

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net Change in Unsettled Security Transactions

12,724

2,194

4,920

-33,582

-16,959

-2,135

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Change in Net Payable for Securities

-

-

-

-

-

-

-

-

-

-

-14,651

-41,089

15,186

-1,851

3,580

10,981

-15,220

7,814

-42,450

2,791

11,419

46,414

73,389

46,354

21,802

-56,543

-67,508

-64,872

-56,691

-12,432

-129

-8,413

14,786

-1,043

0

0

0

Net Change in Short-Term Investments

-

-

-

-

-

-

-

-

-

-

-100,101

-58,145

-30,846

38,468

-23,383

-25,645

33,781

-117,740

102,405

101,395

78,095

142,214

-34,458

-37,257

-73,423

31,568

28,180

-20,469

35,660

-30,384

-103,742

12,443

-6,486

-22,713

0

0

0

Net Purchase of Property and Equipment

8,806

8,845

8,307

5,217

3,668

3,474

2,996

2,594

2,422

3,918

5,645

5,766

5,239

3,577

4,340

4,606

6,158

8,359

7,839

10,219

12,160

10,088

8,235

5,838

2,669

3,336

4,819

5,153

4,831

4,571

4,116

3,368

3,403

2,568

0

0

0

Net Cash Provided by (Used in) Investing Activities

-298,845

-260,147

-259,750

-194,299

-179,226

-264,029

-234,625

-225,997

-216,633

-202,183

-167,019

-299,167

-290,733

-249,855

-207,175

-131,606

-174,374

-219,470

-377,181

-329,157

-278,217

-229,859

-65,371

-76,229

-73,861

-179,839

-107,828

-65,427

-39,389

66,006

10,639

5,379

-50,726

-36,461

0

0

0

Financing Activities:
Purchase of treasury stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

90,866

75,384

47,253

41,361

51,980

0

0

0

Proceeds from Employee Stock Purchase Plan

1,556

2,008

1,295

1,898

1,381

2,076

2,289

2,120

2,120

1,840

0

0

0

-

-

-

-

1,067

453

900

900

821

821

733

733

672

795

898

1,134

945

822

813

577

868

0

0

0

Proceeds of Stock Issued from Exercise of Stock Options

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

153

1,522

1,522

1,536

2,495

0

0

0

-

-

-

-

1,169

1,358

1,220

706

611

0

0

0

Payment of Employee Tax Withholding on Stock Compensation

9,777

8,456

8,119

8,484

9,100

13,887

13,952

13,473

11,189

5,198

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Dividends Paid

8,337

8,319

8,005

7,692

7,378

6,633

6,173

7,022

5,254

3,930

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net Cash Used in Financing Activities

-16,558

-14,767

-14,829

-14,278

-15,097

-18,444

-17,836

-18,375

-14,323

-7,288

0

0

0

-

-

-

-

1,220

132,816

133,263

133,277

134,157

2,020

2,151

2,249

1,076

-15,994

-48,052

-75,804

-88,752

-73,204

-45,220

-40,078

-50,501

0

0

0

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

-5,030

-4,234

-4,153

2,273

5,237

3,248

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Change in Unrestricted and Restricted Cash and Cash Equivalents

17,042

63,190

30,949

68,856

74,677

-13,882

4,206

-66,322

-22,116

3,991

78,032

32,618

-17,398

-20,850

-4,925

16,646

34,975

4,242

-56,105

-29,356

-3,535

41,173

94,261

56,118

13,068

-82,024

-22,683

5,502

6,224

95,592

27,862

28,399

36,585

31,259

0

0

0

Supplemental Information:
Income Taxes Paid, Net

21,243

21,422

22,747

37,593

39,847

39,689

50,559

41,325

34,926

34,830

30,961

23,812

33,694

35,447

35,836

34,733

25,231

27,066

40,533

50,789

43,524

41,094

23,293

14,637

19,281

19,602

24,314

20,199

15,188

14,145

7,367

7,318

3,068

6,398

0

0

0

Interest Paid

15,238

15,238

15,238

15,238

15,238

15,238

15,238

15,238

15,238

15,238

0

0

0

-

-

-

-

-

-

-

-

8,050

8,050

8,050

8,050

8,050

8,050

8,050

8,050

8,050

8,050

8,050

8,050

8,050

0

0

0

Issuance of Stock to Directors

745

783

783

783

783

578

578

578

578

633

633

633

633

563

563

563

563

438

438

438

438

400

400

400

400

242

242

242

242

210

210

220

220

190

0

0

0