| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 |
|---|---|---|---|---|---|---|---|---|---|---|---|
Cash Flows From Operating Activities | |||||||||||
Net income | |||||||||||
425,100 | 391,000 | 186,200 | 155,100 | 331,500 | 282,000 | 251,000 | 55,900 | 36,700 | 151,200 | 197,200 | 20,600 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
Gain on sale of Chaucer-related Irish entity | |||||||||||
-1,200 | 131,900 | - | - | - | - | - | 10,800 | - | - | - | - |
(Gain) loss on sale of FAFLIC | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 77,300 |
Gain on sale of AMGRO, Inc. | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | -11,100 |
Net loss from repayment of debt | |||||||||||
- | - | - | -88,300 | -24,100 | -100 | -19,900 | -5,100 | -2,300 | -2,000 | 34,500 | - |
Net realized investment (gains) losses | |||||||||||
109,000 | -51,300 | 23,700 | 8,600 | 19,100 | 50,200 | 33,500 | 22,800 | 16,200 | 29,300 | -1,800 | -112,200 |
Gain on discontinued operations | |||||||||||
- | - | - | - | - | - | - | - | 5,200 | 1,800 | 12,000 | 11,300 |
Net amortization and depreciation | |||||||||||
21,600 | 24,600 | 30,100 | 30,700 | 30,200 | 33,500 | 35,000 | 35,600 | 26,700 | 16,700 | 11,800 | 15,100 |
Stock-based compensation expense | |||||||||||
17,400 | 13,400 | 12,300 | 12,000 | 12,300 | 15,100 | 12,400 | 12,800 | 12,000 | 11,300 | 11,700 | 11,600 |
Amortization of defined benefit plan costs | |||||||||||
11,400 | 9,700 | 14,000 | 9,900 | 12,700 | 22,100 | 14,900 | 9,300 | 10,200 | 9,800 | 19,800 | -3,600 |
Deferred income tax expense (benefit) | |||||||||||
-12,500 | 23,400 | -39,800 | 13,200 | -53,100 | -68,600 | -74,900 | 35,500 | 9,200 | -50,100 | -31,900 | 53,700 |
Gain on disposal of U.K. motor business | |||||||||||
- | - | - | - | 38,400 | - | - | - | - | - | - | - |
Change in deferred acquisition costs | |||||||||||
14,400 | 19,200 | 31,800 | 7,800 | -6,900 | 19,600 | 16,300 | 30,800 | -18,300 | 52,200 | 21,500 | 10,500 |
Change in premiums receivable, net of reinsurance premiums payable | |||||||||||
78,700 | 73,900 | 29,600 | 28,200 | 52,500 | 184,100 | 107,400 | 53,300 | -69,400 | 204,900 | 14,100 | -75,000 |
Change in accrued interest income | |||||||||||
- | - | - | - | - | - | - | - | - | 1,100 | - | -3,100 |
Change in loss, loss adjustment expense and unearned premium reserves | |||||||||||
498,600 | 584,900 | 949,500 | 527,800 | 121,000 | 256,300 | 65,900 | 598,300 | 78,500 | 288,200 | 9,900 | -156,800 |
Change in reinsurance recoverable | |||||||||||
179,100 | 248,100 | 414,000 | 35,800 | 27,000 | -115,900 | -148,800 | 230,700 | 48,100 | 38,200 | 58,300 | -116,700 |
Change in expenses and taxes payable | |||||||||||
11,000 | 4,600 | -500 | 12,700 | 5,300 | 12,500 | -62,900 | 87,600 | 48,200 | -85,000 | -44,600 | -103,200 |
Other, net | |||||||||||
14,700 | 31,700 | 27,700 | -500 | 15,400 | -12,500 | 18,800 | 12,500 | 1,900 | 33,200 | 7,500 | -20,700 |
Net cash provided by operating activities | |||||||||||
602,900 | 551,300 | 704,600 | 743,400 | 444,700 | 564,700 | 383,900 | 408,200 | 221,700 | 83,600 | 91,600 | 209,500 |
Cash Flows From Investing Activities | |||||||||||
Proceeds from disposals and maturities of fixed maturities | |||||||||||
1,336,900 | 1,094,200 | 1,225,300 | 1,602,300 | 1,696,400 | 1,323,100 | 1,394,300 | 1,684,800 | 1,624,200 | 1,376,200 | 2,162,300 | 1,114,100 |
Proceeds from disposals of equity securities and other investments | |||||||||||
250,300 | 158,400 | 164,900 | 271,100 | 329,400 | 175,200 | 217,800 | 218,200 | 101,200 | 132,600 | 70,900 | 11,900 |
Proceeds from mortgages sold, matured or collected | |||||||||||
- | - | - | - | - | - | - | - | - | - | 17,400 | 10,200 |
Proceeds from collections of installment finance and notes receivable | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 192,300 |
Proceeds from the sale of FAFLIC, net of cash transferred | |||||||||||
- | - | - | - | - | - | - | - | - | - | 2,300 | - |
Net proceeds from sale of AMGRO, Inc. | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 1,000 |
Proceeds from sale of variable life insurance and annuity business, net | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | -13,300 |
Purchase of fixed maturities | |||||||||||
1,588,300 | 1,425,600 | 1,645,800 | 2,020,900 | 1,792,200 | 1,710,100 | 1,698,800 | 2,170,400 | 1,688,000 | 1,401,500 | 2,345,800 | 828,200 |
Purchase of equity securities and other investments | |||||||||||
332,200 | 178,300 | 222,600 | 351,200 | 428,800 | 379,700 | 249,100 | 274,900 | 128,600 | 184,900 | 44,500 | 22,900 |
Capital expenditures | |||||||||||
13,300 | 13,100 | 18,600 | 15,700 | 19,500 | 11,200 | 22,900 | 21,300 | 16,500 | 10,900 | 10,400 | 9,500 |
Net cash proceeds from sale of Chaucer-related Irish entity, partially offset by cash transferred | |||||||||||
34,700 | 635,700 | - | - | 44,300 | - | - | - | - | - | - | - |
Disbursements to fund installment finance and notes receivable | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 178,600 |
Other investing activities | |||||||||||
- | - | 9,500 | -19,000 | 1,100 | -2,000 | - | - | - | - | - | 300 |
Net cash used for business acquisitions | |||||||||||
- | - | - | - | - | - | - | - | -287,700 | 13,300 | 21,800 | - |
Net payments related to derivative agreements | |||||||||||
- | - | - | - | - | - | - | -800 | -2,800 | -3,000 | - | - |
Net cash used in investing activities | |||||||||||
-311,900 | 271,300 | -506,300 | -495,400 | -171,500 | -600,700 | -358,700 | -562,800 | 182,800 | -98,800 | -174,200 | 189,200 |
Cash Flows From Financing Activities | |||||||||||
Withdrawals from contractholder deposit funds and trust instruments supported by funding obligations | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 21,000 |
Proceeds from exercise of employee stock options | |||||||||||
14,400 | 14,800 | 23,100 | 16,200 | 16,600 | 12,600 | 25,000 | 2,600 | 3,900 | 12,000 | 3,100 | 8,200 |
Proceeds from debt borrowings, net | |||||||||||
- | - | - | 370,700 | - | - | 168,600 | 7,400 | 325,400 | 207,500 | 125,000 | - |
Change in cash collateral related to securities lending program | |||||||||||
-5,000 | -19,000 | -6,700 | -6,400 | 15,700 | 7,400 | -15,900 | 5,200 | -42,100 | -7,700 | 53,100 | -50,600 |
Dividends paid to shareholders | |||||||||||
386,200 | 94,300 | 86,800 | 80,400 | 74,200 | 67,000 | 60,000 | 55,100 | 50,900 | 47,200 | 37,500 | 23,000 |
Repurchases of common stock | |||||||||||
563,600 | 57,700 | 37,200 | 105,600 | 127,300 | 20,400 | 78,200 | 20,000 | 21,700 | 134,700 | 148,100 | 58,500 |
Repayment of debt | |||||||||||
151,100 | 11,600 | - | 475,400 | 114,300 | 700 | 139,900 | 73,100 | 86,800 | 38,500 | 125,900 | - |
Other financing activities | |||||||||||
-7,800 | -3,200 | -4,100 | -19,900 | -17,500 | -3,600 | -5,100 | -400 | -500 | - | 100 | 300 |
Net cash used in financing activities | |||||||||||
-1,099,300 | -171,000 | -111,700 | -300,800 | -301,000 | -71,700 | -105,500 | -133,400 | 127,300 | -8,600 | -130,200 | -144,600 |
Effect of exchange rate changes on cash | |||||||||||
- | -4,000 | 7,200 | -3,400 | -6,700 | -5,200 | 1,600 | 32,100 | -3,900 | - | - | - |
Net change in cash and cash equivalents | |||||||||||
-808,300 | 647,600 | 93,800 | -56,200 | -34,500 | -112,900 | -78,700 | -255,900 | 527,900 | -23,800 | -212,800 | 254,100 |
Net change in cash related to discontinued operations | |||||||||||
3,300 | 75,200 | 56,800 | 14,000 | - | - | 100 | 300 | 2,100 | -2,300 | 131,600 | -67,000 |
Supplemental Cash Flow Information | |||||||||||
Interest payments | |||||||||||
37,000 | 47,800 | 47,500 | 53,100 | 60,800 | 64,100 | 66,100 | 62,700 | 55,500 | 40,300 | 35,500 | 40,900 |
Income tax payments, net | |||||||||||
113,700 | 57,000 | 51,100 | 29,700 | 56,900 | 8,400 | 9,500 | -5,500 | 3,000 | 11,300 | 47,900 | 36,500 |