STATE AUTO FINANCIAL CORPORATION STFC Cash Flow

State auto financial corporation (STFC)

CashFlow / Quarterly

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
-114,600	32,700	11,500	-6,200	49,400	-24,500	33,400	6,000	-2,100	-13,700	-9,500	8,700	-3,300	30,700	10,100	-24,600	3,000	3,100	20,700	2,700	24,700	65,400	11,900	3,000	27,100	16,400	18,500	6,200	19,700	20,900	-5,500	-2,700	-2,000	99,300	-58,700	-214,100	12,800
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Depreciation and amortization, net
1,600	3,200	2,400	700	3,100	2,200	2,100	1,700	2,900	2,600	3,800	3,000	3,100	3,100	4,100	3,000	4,400	4,900	3,500	1,800	5,500	5,100	2,200	1,000	3,400	4,000	3,100	2,100	4,300	1,100	3,800	-500	2,700	2,400	2,100	-1,300	2,100
Share-based compensation
500	-900	2,600	600	3,800	5,400	900	2,500	2,300	1,200	200	1,100	1,700	500	1,000	800	1,400	-600	2,700	1,400	1,000	900	300	1,400	1,000	500	1,100	1,300	1,200	800	800	1,100	800	1,000	300	1,100	800
Net investment loss (gain)
-135,200	24,000	-5,000	10,300	44,900	-67,900	17,800	12,100	-11,700	108,900	-67,400	15,800	7,800	19,900	8,800	6,500	1,300	4,300	10,800	5,400	3,800	3,100	1,600	5,300	10,700	7,500	7,500	1,500	6,700	8,200	7,000	6,700	7,100	12,100	10,200	6,500	8,200
Realized Investment Gains (Losses)
-	-	-	-	-	-	-	-	-	-	-	15,800	7,800	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Changes in operating assets and liabilities:
Deferred policy acquisition costs
2,200	-3,200	5,200	4,800	2,400	-2,600	-100	-500	-5,200	-4,300	-3,000	1,600	-5,800	-3,300	2,000	4,300	-1,600	-4,900	500	6,100	900	17,100	2,400	7,300	2,900	-1,800	-1,800	5,900	2,800	-2,200	300	-600	2,500	-20,200	4,500	8,900	-1,100
Accrued investment income and other assets
1,500	-3,000	4,100	-5,900	4,100	-6,900	800	-1,600	3,800	-1,500	-1,900	-600	500	1,100	3,000	-3,300	3,700	-2,100	3,900	-1,400	2,000	500	-300	-1,900	1,500	-400	700	-1,400	3,400	1,400	2,500	-3,300	800	-2,600	1,200	-1,800	2,400
Postretirement and pension benefits
-900	-2,300	-900	-11,200	-100	-600	-8,000	-8,000	-300	-5,700	-3,100	-3,100	-2,900	-17,400	-26,800	-2,000	-1,800	-200	-4,200	-900	-700	700	-5,300	-4,400	1,700	2,100	-4,100	-1,600	-1,700	2,200	-4,500	-1,200	-1,100	-12,700	-4,000	1,100	5,700
Other liabilities and due to/from affiliates, net
26,200	42,300	-800	-30,200	33,600	-49,900	-200	3,500	-1,000	3,800	-47,800	18,700	14,000	-51,100	-10,400	32,700	-4,900	-23,600	-24,200	38,100	49,600	39,700	-25,500	26,000	10,600	-17,900	-21,000	30,800	9,000	-7,700	-5,800	6,700	16,600	-84,600	-1,500	5,300	-16,800
Reinsurance recoverable on losses and loss expenses payable and prepaid reinsurance premiums
26,500	-46,000	-24,100	79,900	-800	21,600	-4,500	-10,300	-4,200	1,700	-900	-2,100	1,100	-500	-1,800	-800	100	-1,800	-900	1,300	-1,600	600	1,100	-400	600	-1,700	-2,100	1,400	-1,200	-5,300	-7,500	-5,300	2,100	-5,000	8,000	4,600	-600
Losses and loss expenses payable
19,500	-26,200	-42,500	6,300	-17,900	-51,900	-35,800	-13,100	-8,000	-24,900	46,900	16,300	35,700	16,000	22,400	59,700	30,500	31,500	-1,500	25,300	14,500	21,900	-1,500	11,100	-8,200	7,900	-3,700	11,400	2,100	-3,700	12,200	13,500	13,100	-30,200	27,300	82,200	13,700
Unearned premiums
16,500	0	27,600	34,100	3,300	-11,400	5,500	900	-22,600	-18,700	3,100	20,900	-11,300	-16,400	10,500	22,900	-15,500	-21,200	5,200	28,100	-8,200	83,600	7,300	27,600	2,900	-10,500	-5,800	22,900	2,800	-9,900	100	12,200	9,000	-116,600	18,300	35,000	-6,900
Excess Tax Benefit from Share-based Compensation, Operating Activities
200	200	100	800	-200	-900	200	-200	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Federal income taxes
-29,200	7,800	1,300	-600	12,000	-8,900	7,800	1,500	-1,200	54,700	-1,500	2,100	-900	1,200	-2,400	-100	1,100	-3,900	9,800	-1,200	9,000	-82,600	1,200	-900	700	-400	300	-500	300	-	-	-	-	-34,900	6,700	76,300	2,800
Cash provided from December 31, 2014 unearned premium transfer related to the homeowners quota-share reinsurance arrangement
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-127,000	0	0	63,500	0	0	0	0	-	-	-	-	0	0	0	75,500	-	-	-	-
Cash used in pooling changes, December 31, 2011 and January 1, 2011
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-261,400	0	0	0	69,100
Net cash used in operating activities
-28,000	0	22,500	-36,000	-30,400	16,900	-8,100	-11,500	-10,700	7,200	39,300	16,900	4,500	51,500	17,500	20,000	24,500	41,300	46,300	7,600	54,600	34,000	36,800	2,500	2,300	34,400	26,100	3,600	8,000	22,900	15,700	19,300	-343,500	8,600	-7,400	-32,600	74,400
Cash flows from investing activities:
Purchases of fixed maturities available-for-sale
122,400	132,700	125,100	197,600	137,200	82,600	59,100	108,900	99,000	96,200	164,700	124,000	120,500	174,700	122,600	131,400	160,600	114,100	141,900	105,100	212,800	105,600	99,100	89,500	137,200	100,100	82,400	62,500	81,700	111,100	170,100	182,400	76,800	31,200	76,600	73,700	188,200
Purchases of equity securities
16,100	14,500	18,500	10,900	19,500	9,200	3,800	16,900	61,500	81,800	35,100	30,000	39,000	65,200	32,900	14,200	30,800	22,200	105,700	6,400	19,700	23,300	10,800	46,900	38,000	25,500	21,000	15,500	24,000	30,900	47,400	40,700	24,000	4,500	12,300	19,600	56,200
Purchases of other invested assets
6,600	400	10,300	1,600	1,000	700	200	400	500	400	300	500	200	500	300	300	400	400	2,200	400	3,900	300	600	500	400	300	4,700	300	200	400	0	200	500	400	100	200	500
Maturities, calls and pay downs of fixed maturities available-for-sale
67,900	119,200	63,900	77,300	125,900	49,400	70,200	54,700	55,500	41,500	97,600	40,400	54,100	63,800	75,900	40,400	60,800	37,600	55,900	64,300	83,200	51,600	42,500	69,400	68,900	51,900	36,000	46,500	40,200	39,500	70,100	62,700	84,700	81,000	98,800	57,700	89,700
Sales of fixed maturities available-for-sale
83,500	60,100	50,000	133,100	65,600	28,300	8,800	45,600	15,300	28,500	48,100	57,500	50,700	73,600	11,600	50,600	75,800	38,000	73,800	6,400	62,500	28,100	33,600	30,500	71,300	35,500	19,600	19,700	38,500	38,900	123,100	124,900	45,900	65,900	31,500	48,800	21,400
Sales of equity securities
13,200	11,000	14,100	7,600	12,700	8,500	7,500	16,700	65,100	81,400	79,400	44,300	47,600	39,100	48,900	41,400	23,600	27,400	77,600	18,300	21,500	22,600	11,800	30,200	34,600	32,300	30,900	15,100	28,100	37,400	23,300	14,100	27,000	44,900	55,200	35,200	45,600
Sales of other invested assets
400	300	400	300	300	300	200	400	300	300	300	200	300	100	300	200	200	200	200	100	200	100	200	100	200	200	100	200	200	200	100	200	200	10,100	10,200	200	300
Proceeds from Sale of Property, Plant, and Equipment
200	-	0	1,600	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Sale of subsidiary
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	13,200
Net disposals of property and equipment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-200	-	-	-	-	-	-	-	-
Net cash provided by investing activities
20,100	43,000	-25,500	9,800	46,800	-6,000	23,600	-8,800	-24,800	-26,700	25,300	-12,100	-7,000	-63,800	-19,100	-13,300	-31,400	-33,500	-42,300	-22,900	-69,000	-26,800	-22,400	-6,700	-600	-6,000	-21,500	3,200	1,300	-24,700	-900	-21,600	56,500	165,800	106,700	48,400	-74,700
Cash flows from financing activities:
Proceeds from issuance of common stock
1,800	1,100	800	3,000	1,000	3,700	-2,600	5,000	9,300	4,200	1,900	2,600	1,500	-2,000	900	2,500	800	3,300	500	1,700	700	1,100	300	1,500	600	1,700	700	1,500	100	-	-	-	-	1,000	-100	1,300	400
Payments to acquire treasury stock
900	0	0	0	500	0	100	0	100	100	0	0	200	0	0	0	200	0	100	100	100	0	0	0	100	0	0	0	100	-	-	-	-	-	-	-	-
Payment of dividends
4,400	4,400	4,300	4,300	4,400	4,300	4,100	4,400	4,300	4,200	4,200	4,200	4,300	4,200	4,100	4,200	4,100	4,200	4,000	4,200	4,100	4,200	4,000	4,100	4,200	4,000	4,000	4,100	4,000	4,200	6,000	6,100	6,000	6,100	5,900	6,100	6,000
Proceeds from Short-term Debt
60,000	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by (used in) financing activities
56,500	-3,300	-3,500	-1,300	-3,900	-600	-6,800	200	4,900	-100	-2,300	-1,600	-3,000	-6,100	18,100	-1,400	-3,500	-600	-3,700	-2,500	-3,500	-3,100	-3,700	-2,600	-3,700	-2,400	-18,800	-2,600	-4,000	-3,400	-6,000	-5,300	-6,000	-5,100	-6,000	-4,800	-5,600
Net increase in cash and cash equivalents
48,600	-	-	-	12,500	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net increase (decrease) in cash and cash equivalents
-	-	-	-	-	10,300	8,700	-20,100	-30,600	-19,600	62,300	3,200	-5,500	-18,400	16,500	5,300	-10,400	7,200	300	-17,800	-17,900	4,100	10,700	-6,800	-2,000	26,000	-14,200	4,200	5,300	-5,200	8,800	-7,600	-293,000	169,300	93,300	11,000	-5,900
Supplemental disclosures:
Proceeds from Income Tax Refunds
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-5,900	-5,400	-1,100	0	-800	-3,000	1,500	0
Interest Paid, Excluding Capitalized Interest, Operating Activities
1,200	1,300	1,200	600	1,700	1,200	1,200	1,700	1,600	1,400	1,500	1,400	1,400	1,400	1,400	1,300	1,300	1,400	1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,200	3,800	3,300	200	3,300	200	3,300	200	3,300	200	3,300	200