NMI Holdings, Inc. NMIH Cash Flow

Nmi holdings, inc. (NMIH)

CashFlow / Yearly

Dec'19	Dec'18	Dec'17	Dec'16	Dec'15	Dec'14	Dec'13	Dec'12
Cash flows from operating activities
Net income
171,957	107,927	22,050	64,001	-27,793	-48,906	-55,184	-27,491
Adjustments to reconcile net income to net cash provided by operating activities:
Net realized investment losses
45	57	208	-693	831	197	186	0
(Gain) loss from change in fair value of warrant liability
8,657	1,397	4,105	1,900	-1,905	-2,949	1,529	278
Depreciation and amortization
9,299	7,811	6,663	5,660	4,861	8,080	8,116	3
Net amortization of premium on investment securities
-1,252	-1,519	-1,599	-1,259	0	0	-	-
Amortization of debt discount and debt issuance costs
1,011	3,390	1,473	1,914	251	0	0	-
Deferred income taxes
45,082	25,927	31,102	-52,909	0	0	-	-
Share-based compensation expense
13,000	12,600	9,500	6,900	8,174	9,180	10,367	6,115
Warrants issued in connection with line of credit
-	-	-	-	-	-	-	1,620
Loss on impairment
-	-	-	-	-	-	-	1,200
Changes in operating assets and liabilities:
Premiums receivable
10,078	10,828	11,451	8,585	4,095	1,029	19	0
Current tax payable
-	-	-	-	-	-2,386	0	0
Accrued investment income
1,137	1,482	791	548	1,166	-294	2,001	6
Prepaid expenses
472	1,090	160	563	-626	535	1,102	234
Deferred policy acquisition costs, net
13,132	8,915	7,816	12,579	14,545	2,895	90	0
Other assets
8,831	-1,304	1,547	156	-419	446	-46	78
Unearned premiums
-22,251	-4,273	10,260	62,133	68,704	20,622	-1,446	0
Reserve for insurance claims and claim expenses
10,941	4,050	5,760	2,322	596	83	0	0
Reinsurance balances, net
1,022	-560	274	2,752	0	0	-	-
Accounts payable and accrued expenses
3,888	6,064	-2,486	3,300	8,167	117	767	4,553
Net cash provided by operating activities
208,150	145,861	67,763	71,944	41,463	-20,967	-36,311	-14,596
Cash flows from investing activities
Purchase of short-term investments
230,362	257,916	131,196	170,067	21,160	0	510	4,862
Purchase of fixed-maturity investments, available-for-sale
290,533	356,337	219,079	143,568	343,771	60,462	559,875	0
Proceeds from maturity of short-term investments
244,921	221,685	170,278	129,033	0	0	5,374	0
Proceeds from redemptions, maturities and sale of fixed-maturity investments, available-for-sale
91,575	179,978	95,435	116,281	140,901	136,764	141,754	0
Software and equipment
9,956	8,060	8,510	11,471	6,135	8,220	6,692	2,447
Acquisition of subsidiaries
-	-	-	-	-	-	-	2,500
Net cash provided by used in investing activities
-194,355	-220,650	-93,072	-79,792	-230,165	68,082	-419,949	-9,809
Cash flows from financing activities
Proceeds from Issuance of Common Stock
0	79,165	0	0	0	1,097	27,912	510,465
Proceeds from issuance of common stock related to employee equity plans
21,748	12,857	7,103	532	415	-	-	-
Proceeds from issuance of common stock related to warrant exercises
0	321	183	0	-	-	-	-
Payments on line of credit
-	-	-	-	-	-	-	-205
Taxes paid related to net share settlement of equity awards
18,248	9,722	8,582	755	1,105	1,083	1,578	0
Gain from settlement of warrants
-	-	-	-	-	37	0	0
Proceeds from senior note, net
0	149,250	0	0	148,500	0	0	-
Repayments of term loan
1,500	147,375	1,500	1,500	375	0	0	-
Payments of debt issuance/modification costs
0	3,609	445	0	4,437	0	0	-
Net cash (used in) financing activities
2,000	80,887	-3,241	-1,723	142,998	-23	26,334	510,260
Net increase in cash, cash equivalents and restricted cash
15,795	6,098	-28,550	-9,571	-45,704	47,092	-429,926	485,855
Supplemental disclosures of cash flow information
Interest paid
10,691	12,093	13,355	9,669	5	0	0	-
Income taxes refunded
-64	867	1,220	-	-	-	-	-
Income tax (refunded) paid, net
-	-	-	200	0	0	-	-
Restricted cash
-	-	-	-	-	-	-	40,338
Noncash financing activities
Conversion of class B shares of common stock into class A shares of common stock
-	-	-	-	-	-	2	0
Acquisition of subsidiaries
Warrants issued in connection with acquisition of subsidiaries
-	-	-	-	-	-	-	3,500
Common stock issued in connection with acquisition of subsidiaries
-	-	-	-	-	-	-	2,500