SAFETY INSURANCE GROUP, INC. SAFT Cash Flow

Safety insurance group, inc. (SAFT)

CashFlow / TTM

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11
Cash flows from operating activities:
Net (loss) income
67,665	99,601	89,845	103,134	104,016	83,195	76,158	65,204	59,493	62,387	63,031	63,674	63,934	64,585	62,922	56,306	33,888	-13,853	-13,773	-10,318	12,158	59,354	60,636	62,856	59,492	61,351	59,270	55,948	54,845	58,070	53,259	47,735	34,865	13,702	0	0	0
Adjustments to reconcile net (loss) income to net cash used for operating activities:
Investment amortization, net
3,925	4,922	4,933	5,197	5,739	5,273	5,836	6,367	3,740	6,962	5,920	2,485	4,326	5,388	670	5,683	5,395	4,962	12,148	12,156	12,386	13,123	11,045	11,655	12,197	12,326	14,716	14,312	13,996	14,322	15,049	14,585	14,187	13,554	0	0	0
Fixed Asset depreciation, net
5,884	5,485	5,482	5,479	5,521	5,467	5,285	5,178	5,274	5,037	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Stock based compensation
6,051	6,030	6,847	7,150	6,688	6,579	5,416	5,234	5,258	5,166	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
(Credit) Provision for deferred income taxes
-1,639	4,757	-3,803	-4,096	-5,165	-5,600	-2,409	-1,132	1,636	2,085	4,930	4,006	2,057	1,681	1,626	3,349	6,151	552	-1,237	-2,913	-6,161	-602	1,387	1,814	1,907	1,899	1,123	770	1,106	1,023	-311	-216	-739	-693	0	0	0
Net realized losses on investments
2,509	2,976	1,791	650	1,756	3,226	4,158	6,822	5,800	6,036	5,457	7,631	7,424	5,559	4,531	-670	-1,203	-469	-558	36	588	197	1,161	1,534	1,295	1,677	4,400	3,590	2,833	1,975	5,836	4,145	3,485	4,360	0	0	0
Net impairment losses on investments
-	889	0	0	0	-	-	-	-	-	-	-	-	798	791	1,225	1,088	796	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Credit loss expense
0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Earnings from partnership investments
1,408	904	-1,600	-682	-1,041	650	4,103	3,692	4,495	2,082	1,329	1,780	2,420	3,185	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in net unrealized gains on equity investments
-20,335	21,454	2,593	5,424	-1,041	-16,324	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Changes in assets and liabilities:
Accounts receivable
1,017	3,307	436	190	-4,559	-587	3,635	7,587	9,268	2,953	6,180	6,372	5,274	9,129	5,887	3,455	1,503	3,035	2,641	905	2,048	6,228	5,581	1,893	1,790	3,554	5,213	13,260	13,609	11,607	16,130	15,562	12,843	8,417	0	0	0
Accrued investment income
-298	-16	338	-543	-582	-456	-537	376	473	18	72	2	185	-64	208	-866	-686	-1,373	-583	-478	-215	-34	-274	-553	188	-258	5	685	-657	418	-76	297	787	698	0	0	0
Receivable from reinsurers
-3,705	11,602	26,188	20,397	24,666	14,228	-10,902	-10,324	-4,403	-5,367	20,561	26,487	13,936	3,995	-924	-22,174	-13,354	41,721	49,113	55,895	51,844	2,578	-3,603	1,124	6,853	6,139	9,783	9,216	4,365	3,495	-134	-468	-1,300	-2,426	0	0	0
Ceded unearned premiums
-3,346	1,208	691	-1,050	367	1,799	3,836	6,518	5,466	3,590	3,978	1,546	3,359	5,363	4,386	7,684	2,957	3,584	3,773	2,553	2,713	1,738	1,215	899	2,141	1,694	2,214	2,295	1,971	2,184	2,378	3,903	2,085	1,561	0	0	0
Deferred policy acquisition costs
227	932	811	447	688	1,153	1,075	813	649	1,206	1,359	2,024	2,164	2,059	2,123	1,113	1,129	1,608	1,797	2,163	2,463	3,941	4,091	3,359	2,755	2,723	3,183	3,725	3,430	3,949	4,398	4,047	4,029	3,892	0	0	0
Taxes recoverable
0	-	-	-	-	-908	0	0	0	-	-	-	-	-15,497	-23,929	-12,092	-11,633	15,497	0	0	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
Other assets
-2,862	1,864	2,093	-4,771	-4,369	-2,565	-1,244	8,485	7,936	5,400	2,908	-3,336	3,096	-348	-803	2,512	-2,529	726	768	3,884	2,698	2,871	8,075	3,792	3,145	-3,084	-294	2,556	-2,116	1,444	-2,196	-7,516	-907	-2,151	0	0	0
Loss and loss adjustment expense reserves
26,931	25,847	18,502	9,332	1,988	10,665	5,320	17,082	10,225	13,733	25,395	18,627	19,648	6,344	-1,087	-16,353	-20,112	71,965	85,556	108,196	121,007	26,998	58,585	37,151	33,118	31,172	-24,855	-29,137	-30,658	-19,970	-15,304	291	-4,406	519	0	0	0
Unearned premium reserves
-2,098	6,839	5,598	1,210	3,158	7,123	9,286	10,371	8,920	10,224	11,387	13,896	15,228	16,072	14,723	11,754	8,247	11,600	13,105	12,743	13,424	19,778	19,639	16,327	15,616	17,364	20,828	24,632	21,931	23,657	26,272	25,557	24,921	23,509	0	0	0
Taxes payable
-7,743	-6,090	0	0	0	-	-	-	-	-1,110	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accounts payable and accrued liabilities
2,004	3,395	3,806	3,626	2,733	10,678	6,226	-1,079	1,986	-6,333	-2,634	3,215	3,372	14,068	11,720	6,926	1,696	-12,423	-9,673	-8,039	-2,276	-577	1,248	4,170	2,431	1,050	2,526	684	2,041	13,426	9,820	8,616	4,577	-2,135	0	0	0
Payable to reinsurers
-16,493	691	-713	-1,121	-517	-1,581	4,801	4,960	13,631	299	-1,380	-5,776	-5,761	1,955	4,113	5,950	1,875	3,894	7,301	4,269	2,270	559	1,305	938	1,068	38	2,797	1,685	1,400	1,718	3,913	3,039	379	-233	0	0	0
Other liabilities
-23,092	5,324	10,676	5,461	3,027	-210	2,901	-6,921	-3,428	160	2,761	2,632	6,363	-7,371	-4,547	-11,173	-31,297	14,479	10,510	22,505	38,866	-2,667	3,078	-10,516	-1,094	-1,891	-10,829	3,441	-4,559	-2,783	-3,014	-3,399	-5,989	6,641	0	0	0
Net cash used for operating activities
91,953	112,456	106,945	116,876	121,673	127,691	122,352	89,091	79,170	82,040	73,098	86,092	97,547	98,824	109,484	88,243	35,117	22,891	21,177	37,507	95,591	97,569	111,369	100,389	97,911	110,864	93,080	98,404	97,745	104,331	95,360	74,424	54,013	39,475	0	0	0
Cash flows from investing activities:
Fixed maturities purchased
220,815	219,875	217,161	243,482	281,476	304,654	299,291	263,275	226,632	205,226	227,200	260,547	267,855	295,211	279,571	249,628	223,340	227,328	223,857	216,350	233,128	234,172	189,982	210,217	217,394	193,814	271,235	336,365	353,994	333,603	318,363	314,648	343,539	344,433	0	0	0
Equity securities purchased
35,512	28,586	23,589	42,063	59,337	66,832	68,363	53,899	32,141	27,440	32,340	31,386	34,098	30,060	21,303	17,261	14,230	26,658	30,550	40,395	39,716	27,665	57,100	58,341	67,153	75,891	40,685	27,916	19,267	9,397	8,980	9,192	12,112	13,149	0	0	0
Other invested assets purchased
16,433	14,794	13,521	11,505	8,269	6,648	5,144	2,805	4,648	7,492	7,404	8,916	6,491	5,248	4,915	3,433	6,547	4,824	5,510	6,610	4,233	4,976	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from sales and paydowns of fixed maturities
134,965	135,119	134,450	207,304	215,561	217,221	234,178	156,114	138,783	151,071	136,208	147,686	131,728	99,682	119,100	123,585	147,943	150,932	143,696	131,407	143,978	153,701	159,110	186,477	159,728	179,729	173,272	163,749	162,073	165,878	196,483	229,289	268,452	264,635	0	0	0
Proceeds from maturities, redemptions, and calls of fixed maturities
80,325	58,676	43,749	31,973	47,616	63,628	64,385	65,400	50,650	37,868	46,526	54,387	69,330	99,883	90,781	107,623	100,752	110,189	125,156	96,033	86,617	52,253	24,500	36,807	36,311	34,264	84,295	86,716	98,722	98,045	52,095	78,277	90,372	78,243	0	0	0
Proceed from sales of equity securities
27,730	23,966	19,704	18,314	17,617	18,654	20,635	35,675	31,938	34,664	38,462	48,122	49,920	46,620	38,834	15,856	13,721	24,380	28,473	26,461	26,165	14,097	15,002	17,799	17,042	14,934	9,486	6,243	7,813	8,837	8,372	8,541	6,430	6,668	0	0	0
Proceeds from other invested assets redeemed
0	-	-	-	-	6,810	11,200	10,995	8,330	7,589	2,539	2,539	2,539	4,992	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Fixed assets purchased
11,444	9,594	7,025	12,455	11,752	11,183	11,809	4,168	5,758	5,958	6,327	5,380	4,004	4,910	4,146	4,277	4,890	4,041	3,310	2,893	1,960	1,760	3,048	3,888	4,580	4,920	4,680	4,384	4,319	4,205	4,536	4,185	4,469	4,377	0	0	0
Net cash provided by investing activities
-38,954	-52,964	-59,710	-48,154	-74,174	-83,004	-54,209	-55,963	-39,478	-14,924	-49,536	-53,495	-58,931	-84,252	-58,564	-23,684	17,260	23,845	35,293	-12,347	-22,277	-48,522	-60,018	-38,733	-82,396	-51,298	-49,547	-111,957	-108,972	-74,445	-74,929	-11,918	5,134	-12,413	0	0	0
Cash flows from financing activities:
Debt
0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from stock options exercised
-	-	-	-	-	-	-	-	-	-	-	-	-	257	342	385	428	278	343	300	343	297	260	515	2,134	2,592	2,692	3,024	1,380	1,241	1,030	446	597	902	0	0	0
Excess tax expense from stock options exercised
-	-	-	-	-	-	-	-	-	-	-	-	-	6	-7	-7	-7	1	1	1	-4	3	0	0	0	-	-	0	0	-	0	0	0	-	0	0	0
Dividends paid to shareholders
53,932	52,667	51,070	49,476	49,437	48,813	48,760	48,703	47,103	45,460	43,905	42,353	42,315	42,265	42,221	42,177	42,130	41,976	41,944	41,908	40,584	39,302	38,080	36,815	36,876	36,865	36,818	36,814	35,236	33,634	32,034	30,437	30,378	30,322	0	0	0
Acquisition of treasury stock
0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-
Net cash provided by (used for) financing activities
-34,324	-52,667	-51,070	-49,476	-49,437	-48,813	-48,760	-48,703	-47,103	-45,460	-43,905	-42,353	-42,315	-42,014	-41,886	-41,799	-41,709	-41,697	-41,600	-41,607	-63,712	-62,469	-61,283	-59,704	-39,549	-39,072	-38,925	-38,650	-33,839	-32,393	-31,000	-30,026	-29,805	-29,463	0	0	0
Net decrease in cash and cash equivalents
18,675	6,825	-3,835	19,246	-1,938	-4,126	19,383	-15,575	-7,411	21,656	-20,343	-9,756	-3,699	-27,442	9,034	22,760	10,668	5,039	14,870	-16,447	9,602	-13,422	-9,932	1,952	-24,034	20,494	4,608	-52,203	-45,066	-2,507	-10,569	32,480	29,342	-2,401	0	0	0