Proassurance corporation (PRA)
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'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Dec'10Sep'10Jun'10Mar'10
Operating Activities
Net Income (Loss) Attributable to Parent

-52,600

1,004

35,928

49,964

66,851

47,057

88,849

86,570

77,665

107,264

144,770

149,655

173,219

151,081

131,182

107,624

97,700

116,197

146,362

170,864

187,648

196,565

202,316

230,895

231,404

297,523

327,924

324,673

332,675

275,470

314,806

298,404

295,048

287,096

248,547

255,895

241,179

231,598

0

0

0

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

18,363

18,665

18,784

19,872

20,212

21,255

24,316

25,883

27,072

28,796

28,304

29,767

31,962

32,789

34,533

34,686

35,280

36,218

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

Gain on acquisition

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

32,314

35,986

35,492

35,492

0

0

0

0

-

-

-

-

-

-

-

-

(Increase) decrease in cash surrender value of BOLI

2,020

2,016

2,015

1,991

1,987

1,983

1,986

1,986

1,973

1,979

1,989

2,006

2,003

2,008

0

0

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain (Loss) on Investments

-5,422

59,874

925

12,165

5,652

-43,488

250

-4,374

-9,388

16,409

35,371

43,358

56,507

34,875

12,295

-40,072

-54,830

-41,639

-28,625

-125

16,749

14,654

27,913

48,543

43,968

67,904

54,165

54,884

44,866

28,863

33,990

8,800

12,547

5,994

2,887

29,571

23,870

17,342

0

0

0

Share-based compensation

3,283

3,500

3,478

5,103

5,626

5,300

7,635

7,025

8,156

10,600

12,152

12,779

13,131

12,500

8,986

10,013

9,178

9,166

9,672

9,381

9,519

10,056

10,334

10,175

10,200

9,242

9,188

8,275

8,791

8,639

8,078

8,477

7,512

7,119

7,051

6,911

6,475

6,138

0

0

0

Deferred Income Tax Expense (Benefit)

-45,485

-28,643

-16,893

-5,760

-3,112

-11,824

9,538

441

-7,455

1,693

840

4,449

13,573

8,534

-1,222

-13,320

-21,335

-15,994

-13,371

-281

7,378

6,795

6,961

20,655

16,873

24,659

53,419

47,247

49,780

37,744

-7,303

-11,769

-12,434

-1,051

12,800

5,998

3,196

-4,400

0

0

0

Policy acquisition costs, net of amortization (net deferral)

-757

1,451

1,849

3,678

6,158

3,855

4,559

1,984

1,580

3,452

2,082

2,496

4,227

2,421

1,947

3,315

4,004

5,598

3,613

1,063

-216

-10

4,003

6,110

5,027

5,820

5,202

2,294

-1,207

-3,448

0

0

0

-

-

-

-

-

-

-

-

Equity In Earnings (Loss) Of Unconsolidated Subsidiaries

-10,813

-10,061

-10,539

-4,033

6,498

8,948

11,791

10,728

7,865

8,033

9,334

1,821

-320

-5,762

-6,746

-3,618

-851

3,682

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Distributed earnings from unconsolidated subsidiaries

25,496

25,849

19,003

33,922

26,139

31,219

28,148

16,093

20,517

24,392

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other

-135

-2,175

-2,704

-2,015

-1,753

-1,168

-1,146

-1,342

-1,027

-108

-1,913

-2,581

-634

-1,772

-385

1,340

-2,420

-466

4,637

3,771

7,809

4,769

-4,613

-2,603

-5,347

3,014

8,901

6,077

6,673

2,957

2,961

4,028

2,697

866

14,122

1,424

13,789

6,562

0

0

0

Other changes in assets and liabilities:
Premiums receivable

-17,144

-11,926

257

-817

41,482

23,381

21,001

44,528

22,926

14,605

21,779

7,092

4,835

6,446

1,000

8,032

10,611

14,506

10,109

4,815

5,182

15,136

26,630

23,328

9,705

6,105

403

1,956

-13,486

-16,494

-12,807

-7,398

6,682

-730

7,633

2,527

-4,588

-8,216

0

0

0

Reinsurance related assets and liabilities

30,242

52,902

28,229

29,819

32,237

-4,697

5,307

37,178

49,226

56,449

52,460

22,613

12,001

26,108

21,431

14,966

13,744

3,411

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

Other assets

-2,234

13,481

5,797

7,732

11,907

4,206

3,941

-2,790

-10,489

792

-442

2,967

5,144

-15,665

-762

-11,470

-9,243

10,458

-8,292

-37,032

-34,808

-36,924

-77,421

-45,630

-33,898

-9,582

40,030

52,163

35,352

11,231

8,694

-1,029

2,035

-613

-20,766

-14,266

-4,338

-7,253

0

0

0

Reserve for losses and loss adjustment expenses

172,053

226,679

115,948

116,643

102,194

71,466

59,129

86,952

59,812

54,953

42,679

-936

-8,781

-11,898

-24,242

-33,896

-38,460

-52,940

-125,194

-149,032

-161,553

-167,747

-153,848

-168,663

-162,843

-179,677

-228,263

-224,668

-242,150

-218,100

-239,544

-209,222

-176,600

-166,328

-100,838

-98,181

-100,056

-96,232

0

0

0

Unearned premiums

-14,319

-2,125

14,262

20,858

30,980

16,327

22,989

23,570

29,488

26,321

15,525

12,281

10,054

10,497

4,488

14,755

13,634

16,238

10,700

7,287

7,281

10,097

30,251

23,232

8,674

-1,740

-4,851

-6,586

-24,583

-21,919

-20,041

-10,945

-1,754

-4,895

2,139

-7,857

-18,299

-14,275

0

0

0

Other liabilities

-9,336

8,772

-5,028

-1,389

-6,440

-10,536

8,671

13,395

24,766

20,965

14,594

8,725

21,267

14,321

13,217

-835

-1,683

-179

10,659

8,638

7,035

5,932

-16,552

-15,106

-14,187

-36,569

-9,160

-22,942

-34,625

-27,116

28,993

22,351

25,345

5,911

-43,862

-24,474

-12,187

1,718

0

0

0

Net cash provided (used) by operating activities

101,725

148,166

159,674

190,714

138,303

177,265

201,601

172,046

177,370

173,388

168,172

159,660

191,373

178,983

134,593

143,603

131,263

111,124

100,442

120,620

102,410

96,002

115,724

80,008

82,144

38,602

53,855

46,273

50,043

91,250

114,302

139,017

162,603

159,364

136,983

116,324

116,276

139,191

0

0

0

Investing Activities
Purchases of:
Payments to Acquire Debt Securities, Available-for-sale

744,000

695,600

616,800

579,100

591,900

780,700

881,783

807,820

821,936

614,400

545,747

622,300

597,174

636,400

654,699

578,157

565,045

580,577

599,468

655,293

729,925

645,114

624,903

577,143

548,646

519,161

518,570

606,491

499,402

646,198

718,573

676,868

778,134

782,555

774,787

834,908

854,029

840,366

0

0

0

Fixed maturities, trading

4,047

8,254

11,797

13,031

38,996

38,544

33,086

29,999

4,162

0

-76,838

-59,336

-23,746

0

137,009

177,334

197,728

271,608

245,316

217,469

196,515

119,865

100,298

90,271

81,597

87,604

109,839

120,893

120,860

120,555

113,429

138,884

128,136

117,208

88,649

37,218

26,129

14,312

0

0

0

Equity investments

114,212

116,092

108,646

151,062

161,044

203,157

249,101

197,057

239,586

207,857

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Tax credit limited partnerships

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

Other partnership investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

Other investments

30,314

28,851

33,684

30,694

29,647

32,153

37,474

56,711

53,540

50,362

38,226

16,110

12,920

18,613

23,838

28,962

33,701

33,366

25,360

21,360

29,151

25,109

51,882

50,429

36,329

34,699

8,364

13,624

13,435

9,977

0

0

0

-

-

-

-

5,383

0

0

0

Funding of qualified affordable housing project tax credit partnerships

391

357

248

248

247

0

187

261

470

507

450

383

354

1,019

12,537

12,774

12,589

12,477

1,075

3,922

7,390

8,611

13,127

36,505

35,133

63,489

65,088

44,607

53,676

35,745

0

0

0

-

-

-

-

-

-

-

-

Investment in unconsolidated subsidiaries

55,441

69,411

77,275

92,354

87,306

78,141

66,149

50,130

58,555

42,183

42,369

42,581

35,922

50,890

57,353

63,265

66,609

61,444

65,043

61,967

58,716

52,295

33,985

32,641

21,609

19,228

20,195

14,781

17,623

11,009

0

0

0

-

-

-

-

-

-

-

-

Proceeds from sales or maturities of:
Fixed maturities, available-for-sale

629,845

568,572

521,731

533,276

573,624

914,021

1,141,791

1,156,332

1,219,906

932,070

769,511

799,095

698,605

752,516

730,888

754,213

789,397

886,886

955,503

881,650

916,567

703,828

674,798

939,869

908,348

970,708

1,042,779

866,740

846,994

926,221

869,308

773,012

830,370

789,709

770,193

907,929

1,007,827

961,334

0

0

0

Equity securities, available for sale

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,921

0

0

0

-

-

-

-

Equity investments

491,567

359,727

221,778

237,515

185,208

210,481

167,946

135,825

155,857

146,356

145,389

128,906

106,314

85,226

120,644

121,698

173,988

236,476

203,742

205,533

154,203

134,005

130,752

149,722

159,922

123,645

116,985

91,149

65,140

54,670

43,081

39,399

47,804

50,386

50,501

43,836

52,039

36,740

0

0

0

Other investments

30,305

29,017

32,545

29,805

28,461

29,815

30,746

27,408

24,676

25,372

19,324

19,270

15,755

13,797

26,221

28,936

35,416

33,638

23,237

21,572

22,597

19,942

15,074

11,276

1,385

2,352

2,944

1,979

2,058

1,180

0

0

0

-

-

-

-

1,279

0

0

0

Return of invested capital from unconsolidated subsidiaries

38,654

42,478

71,891

59,180

78,056

84,534

53,870

47,563

37,367

32,539

26,578

23,034

12,396

7,084

12,347

19,578

25,501

28,017

24,968

19,047

9,587

5,428

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net sales or maturities (purchases) of short-term investments

128,857

30,718

65,652

73,544

-131,608

-123,886

-90,142

-50,970

73,649

-4,167

45,591

63,105

132,950

322,872

96,950

62,455

33,677

-11,932

63,463

-28,037

-46,047

-140,411

-44,355

62,116

-11,448

176,092

-53,361

-82,487

14,989

-48,565

70,833

39,180

-12,920

-49,011

-250,232

-169,075

-15,372

-27,676

0

0

0

Cash received in (paid in) acquisition

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

35,013

35,013

35,013

35,013

22,780

-5,659

-5,659

-5,659

-28,439

0

0

0

-

-

-

-

-

-

-

-

Unsettled security transactions, net change

-1,042

6,455

-15,462

5,149

21,003

4,022

-4,631

17,789

-14,094

2,031

26,212

11,618

-7,913

-1,388

-19,477

-26,830

7,136

-2,339

3,299

21,590

-2,269

2,953

-2,822

-23,173

14,249

-205

1,291

4,962

-18,927

-4,852

1,491

-5,491

25,910

-7

2,433

19,021

-16,847

-2,014

0

0

0

(Increase) decrease in restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-78,000

0

0

0

78,000

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of capital assets

9,764

9,586

9,097

9,565

10,372

9,636

9,537

9,005

7,786

10,485

11,745

12,296

15,457

10,922

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayments (advances) under Syndicate Credit Agreement

-

-

-

-

-

184

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other

1,969

5

-10

1,322

1,547

1,305

4,309

2,976

3,184

2,025

-8,660

-5,565

-8,446

-6,187

2,511

-4,334

748

2,505

8,627

12,838

9,332

1,507

-9,797

-5,574

-1,953

4,062

7,011

3,360

4,098

4,409

5,841

2,963

-1,098

9,771

9,752

12,142

1,974

2,923

0

0

0

Net cash provided (used) by investing activities

118,479

50,522

-45,603

-65,721

72,658

214,897

202,906

235,996

160,701

200,275

87,078

49,649

-71,286

-288,802

-86,259

17,851

97,545

227,787

197,363

167,255

126,048

266,980

-129,595

110,364

175,348

-67,803

342,303

75,665

51,064

26,843

-54,289

-78,139

-78,447

-49,611

-26,692

24,977

16,848

-22,347

0

0

0

Financing Activities
Borrowings (repayments) under Revolving Credit Agreement

-

-

-

-

-

123,000

248,000

222,000

117,000

77,000

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds (repayments) of Mortgage Loans

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayments of Mortgage Loans

-

-

-

-

-

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Borrowing under revolving credit agreement

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from Mortgage Loans

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repurchase of common stock

-

-

-

-

-

-

-

-

-

-

-

-

-

2,106

9,700

51,577

116,916

172,772

224,392

226,068

200,541

222,360

190,245

148,682

108,065

29,089

0

0

0

-

-

-

-

21,005

0

0

0

-

-

-

-

Dividends to shareholders

66,580

93,204

93,156

93,119

93,080

316,476

316,418

316,361

316,298

315,228

315,162

315,099

315,038

118,812

118,822

119,108

119,853

217,626

218,590

219,440

220,105

71,252

69,353

67,278

64,733

46,375

208,038

200,168

192,496

200,118

0

0

0

-

-

-

-

-

-

-

-

Capital contribution received from (return of capital to) external segregated portfolio cell participants

-4,258

-5,024

-1,721

-2,220

-1,818

-1,005

-320

2,445

3,073

2,936

3,238

5,374

5,730

9,952

10,539

5,576

5,172

836

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other

-2,566

-4,115

-3,107

-3,068

-3,071

-4,309

-6,628

-6,636

-6,628

-7,683

-5,224

-5,290

-5,368

-2,968

-2,790

-2,542

-3,475

-5,289

-4,188

-4,362

-3,181

-4,415

-7,522

-7,932

-8,226

-9,448

-11,760

-9,088

-8,573

-4,186

-1,256

-2,401

-3,365

-2,968

-1,458

-4,734

-2,672

-1,832

0

0

0

Net cash provided (used) by financing activities

-74,865

-103,790

-99,419

-99,829

-182,378

-446,186

-435,953

-458,790

-396,742

-356,515

-265,148

-237,015

-215,481

-13,934

-120,773

-167,651

-235,072

-294,851

-344,468

-347,168

-321,125

-295,325

-17,175

-98,947

-56,079

40,033

-214,766

-134,894

-126,707

-129,942

-88,061

-29,914

-23,230

-30,204

-32,848

-85,362

-122,468

-106,635

0

0

0

Increase (decrease) in cash and cash equivalents

145,339

94,898

14,652

25,164

28,583

-54,024

-31,446

-50,748

-58,671

17,148

-9,898

-27,706

-95,394

-123,753

-72,439

-6,197

-6,264

44,060

-46,663

-59,293

-92,667

67,657

-31,046

91,425

201,413

10,832

181,392

-12,956

-25,600

-11,849

-28,048

30,964

60,926

79,549

77,443

55,939

10,656

10,209

0

0

0

Significant Non-Cash Transactions
Deposit transferred as consideration for acquisition

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

205,244

205,244

205,244

205,244

153,700

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-