Nmi holdings, inc. (NMIH)
CashFlow / TTM
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'13
Cash flows from operating activities
Net income

197,329

171,957

157,282

132,330

118,471

107,927

70,641

58,142

38,913

22,050

83,538

77,401

73,400

64,001

-542

-11,516

-23,880

-27,793

-32,993

-39,170

-41,671

-48,906

-51,970

-54,867

-58,286

-55,184

0

0

0

Adjustments to reconcile net income to net cash provided by operating activities:
Net realized investment losses

160

45

-213

-302

-130

57

61

137

266

208

263

261

134

-693

-879

-960

-667

831

1,015

1,164

810

197

148

-295

158

186

0

0

0

(Gain) loss from change in fair value of warrant liability

-2,781

8,657

2,487

9,090

7,296

1,397

8,361

3,399

3,489

4,105

2,392

2,688

2,766

1,900

-245

-1,374

-1,327

-1,905

-1,413

-2,322

-5,014

-2,949

-870

840

2,311

1,529

0

0

0

Depreciation and amortization

9,637

9,299

8,647

8,340

8,056

7,811

7,617

7,354

7,019

6,663

6,231

6,484

6,172

5,660

5,515

5,464

4,752

4,861

5,123

5,502

7,227

8,080

9,309

9,673

10,009

8,116

0

0

0

Net amortization of premium on investment securities

-1,256

-1,252

-1,286

-1,331

-1,394

-1,519

-1,575

-1,637

-1,681

-1,599

-1,505

-1,382

-1,290

-1,259

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of debt discount and debt issuance costs

1,021

1,011

1,003

1,038

3,277

3,390

3,502

3,567

1,431

1,473

1,610

1,753

1,899

1,914

1,667

1,169

669

251

0

0

0

-

-

-

-

-

-

-

-

Deferred income taxes

52,924

45,082

41,220

32,903

27,956

25,927

36,460

37,517

33,965

31,102

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Share-based compensation expense

12,571

13,000

13,674

13,234

12,776

12,600

11,348

11,103

10,394

9,500

8,846

7,963

7,401

6,900

7,266

7,245

7,579

8,174

8,201

8,564

8,852

9,180

8,414

8,209

9,687

10,367

0

0

0

Changes in operating assets and liabilities:
Premiums receivable

8,393

10,078

11,055

10,973

10,315

10,828

13,619

13,457

12,598

11,451

9,678

8,927

8,988

8,585

7,392

6,110

4,915

4,095

3,584

2,615

1,534

1,029

402

143

129

19

0

0

0

Current tax payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-2,627

-2,386

0

0

0

-

-

-

-

Accrued investment income

639

1,137

1,004

1,512

1,788

1,482

1,283

923

865

791

983

798

756

548

1,936

1,140

1,412

1,166

386

-61

-59

-294

-541

-116

657

2,001

0

0

0

Prepaid expenses

303

472

1,582

646

1,046

1,090

480

835

667

160

338

262

203

563

530

-59

641

-626

686

730

389

535

44

182

1,169

1,102

0

0

0

Deferred policy acquisition costs, net

13,814

13,132

12,205

10,244

8,794

8,915

8,336

8,157

7,861

7,816

7,190

9,078

11,217

12,579

16,730

16,910

15,665

14,545

10,530

7,167

4,306

2,895

1,647

1,051

977

90

0

0

0

Other assets

9,179

8,831

8,051

-976

-1,332

-1,304

347

1,151

1,192

1,547

427

489

364

156

36

30

18

-419

-619

-1

0

446

615

0

1

-46

0

0

0

Deferred tax asset

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

Unearned premiums

-27,417

-22,251

-17,747

-14,300

-11,265

-4,273

1,548

8,506

10,879

10,260

15,944

25,236

45,616

62,133

83,329

127,323

93,011

68,704

72,618

9,378

17,911

20,622

-13,439

-7,678

-4,720

-1,446

0

0

0

Reserve for insurance claims and claim expenses

13,942

10,941

9,597

7,831

5,146

4,050

4,785

5,553

6,630

5,760

3,990

3,573

2,624

2,322

1,775

1,294

1,158

596

360

209

-21

83

0

0

0

-

-

-

-

Reinsurance balances, net

1,565

1,022

784

243

-259

-560

-550

-283

262

274

2,580

2,944

2,611

2,752

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Accounts payable and accrued expenses

3,263

3,888

3,141

2,418

167

6,064

3,089

2,139

309

-2,486

528

3,759

4,034

3,300

3,961

-906

1,373

8,167

3,245

2,931

-1,496

117

202

1,501

1,193

767

0

0

0

Net cash provided by operating activities

227,723

208,150

186,079

171,832

153,009

145,861

125,334

114,524

90,983

67,763

61,510

58,974

69,120

71,944

77,504

70,392

49,740

41,463

14,757

-4,346

-16,518

-20,967

-26,583

-31,360

-35,058

-36,311

0

0

0

Cash flows from investing activities
Purchase of short-term investments

224,240

230,362

279,287

287,318

289,052

257,916

188,396

136,506

109,391

131,196

133,979

167,957

168,496

170,067

0

0

0

-

-

-

-

-

-

-

-

510

0

0

0

Purchase of fixed-maturity investments, available-for-sale

276,374

290,533

232,844

263,423

354,828

356,337

362,725

321,181

232,962

219,079

206,790

166,585

172,695

143,568

335,974

328,772

313,180

343,771

167,318

169,325

122,028

60,462

4,482

7,811

221,656

559,875

0

0

0

Proceeds from maturity of short-term investments

244,817

244,921

272,793

288,871

271,687

221,685

176,553

128,163

154,742

170,278

177,839

166,952

151,531

129,033

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from redemptions, maturities and sale of fixed-maturity investments, available-for-sale

108,900

91,575

92,536

117,722

164,577

179,978

174,088

141,333

116,038

95,435

90,192

94,938

75,047

116,281

113,109

152,764

172,041

140,901

154,298

210,698

169,981

136,764

114,502

27,892

127,120

141,754

0

0

0

Software and equipment

9,698

9,956

10,183

9,278

8,441

8,060

6,967

6,920

6,811

8,510

9,891

10,152

12,221

11,471

10,411

9,548

7,137

6,135

5,752

6,719

7,873

8,220

7,937

7,878

6,634

6,692

0

0

0

Net cash provided by used in investing activities

-156,595

-194,355

-156,985

-153,426

-216,057

-220,650

-207,447

-195,111

-78,384

-93,072

-82,631

-82,804

-126,834

-79,792

-308,157

-230,632

-185,323

-230,165

-18,772

34,654

40,080

68,082

102,082

12,202

-95,796

-419,949

0

0

0

Cash flows from financing activities
Proceeds from Issuance of Common Stock

-

-

-

-

-

79,165

79,165

79,165

79,249

0

-526

-504

-449

0

111

102

116

0

426

413

1,430

1,097

0

0

0

-

-

-

-

Proceeds from issuance of common stock related to employee equity plans

14,098

21,748

14,033

19,058

19,092

12,857

16,555

10,662

9,493

7,103

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Taxes paid related to net share settlement of equity awards

12,888

18,248

13,926

16,780

16,676

9,722

14,812

11,419

10,602

8,582

3,944

3,734

3,650

755

705

689

1,379

1,105

1,105

1,091

1,327

1,083

1,072

1,072

1,668

1,578

0

0

0

Gain from settlement of warrants

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

37

37

37

37

0

0

0

0

Repayments of term loan

1,500

1,500

1,500

1,500

147,375

147,375

147,375

147,375

1,500

1,500

1,500

1,500

1,500

1,500

1,500

1,125

750

375

0

0

0

-

-

-

-

-

-

-

-

Payments of debt issuance/modification costs

778

0

0

0

0

-

-

-

-

445

370

370

370

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Net cash (used in) financing activities

-1,068

2,000

-1,392

875

919

80,887

79,602

77,006

76,748

-3,241

-2,703

-2,962

-3,045

-1,723

142,384

142,766

142,465

142,998

-679

-678

66

-23

27,889

27,889

26,244

26,334

0

0

0

Net increase in cash, cash equivalents and restricted cash

70,060

15,795

27,702

19,281

-62,129

6,098

-2,511

-3,581

89,347

-28,550

-23,824

-26,792

-60,759

-9,571

-88,269

-17,474

6,882

-45,704

-4,694

29,630

23,628

47,092

103,388

8,731

-104,610

-429,926

0

0

0

Supplemental disclosures of cash flow information
Interest paid

0

-

-

-

-

12,093

12,238

12,488

13,113

13,355

10,350

10,530

9,758

9,669

9,674

6,436

3,230

5

0

0

0

-

-

-

-

-

-

-

-

Income taxes refunded

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Income tax (refunded) paid, net

-

-

-

-

-

-

0

0

1,050

-

1,002

785

370

200

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-