Hanover Insurance Group (THG) trailing twelve month cash flow statement covering six trailing twelve month periods to September 30, 2023, as reported to the SEC.
A cash flow statement shows the cash that actually came in and went out, split between running the business, investing and financing.
| Sep'23 | Jun'23 | Mar'23 | Dec'22 | Sep'22 | Jun'22 | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash Flows From Operating Activities | |||||||||||||||||||||
Net income (loss) | |||||||||||||||||||||
-84,700 | -92,800 | -900 | 116,000 | 291,600 | 325,100 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net income (loss) | -84,700 | -92,800 | -900 | 116,000 | 291,600 | 325,100 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||||||||||||||||||||
Loss from sale of Chaucer business | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Loss from sale of Chaucer business | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net realized and unrealized investment losses | |||||||||||||||||||||
800 | -38,300 | -113,300 | -106,500 | -88,900 | -39,800 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net realized and unrealized investment losses | 800 | -38,300 | -113,300 | -106,500 | -88,900 | -39,800 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net loss from repayment of debt | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net loss from repayment of debt | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net amortization and depreciation | |||||||||||||||||||||
8,400 | 10,700 | 11,800 | 12,900 | 14,400 | 14,900 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net amortization and depreciation | 8,400 | 10,700 | 11,800 | 12,900 | 14,400 | 14,900 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Stock-based compensation expense | |||||||||||||||||||||
31,100 | 30,200 | 29,400 | 29,000 | 27,900 | 26,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Stock-based compensation expense | 31,100 | 30,200 | 29,400 | 29,000 | 27,900 | 26,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Amortization of defined benefit plan costs | |||||||||||||||||||||
7,300 | 6,800 | 6,100 | 5,500 | 5,000 | 4,400 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Amortization of defined benefit plan costs | 7,300 | 6,800 | 6,100 | 5,500 | 5,000 | 4,400 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Deferred income tax benefit | |||||||||||||||||||||
25,600 | 30,600 | 48,700 | 46,500 | 30,900 | 20,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Deferred income tax benefit | 25,600 | 30,600 | 48,700 | 46,500 | 30,900 | 20,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Change in deferred acquisition costs | |||||||||||||||||||||
31,200 | 35,400 | 44,900 | 52,800 | 55,600 | 66,100 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Change in deferred acquisition costs | 31,200 | 35,400 | 44,900 | 52,800 | 55,600 | 66,100 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Change in premiums receivable, net of reinsurance premiums payable | |||||||||||||||||||||
162,300 | 154,200 | 111,200 | 116,700 | 110,400 | 111,400 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Change in premiums receivable, net of reinsurance premiums payable | 162,300 | 154,200 | 111,200 | 116,700 | 110,400 | 111,400 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Change in loss, loss adjustment expense and unearned premium reserves | |||||||||||||||||||||
772,300 | 922,900 | 840,200 | 784,700 | 463,000 | 478,600 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Change in loss, loss adjustment expense and unearned premium reserves | 772,300 | 922,900 | 840,200 | 784,700 | 463,000 | 478,600 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Change in reinsurance recoverable | |||||||||||||||||||||
46,400 | 62,600 | 32,400 | 57,200 | -57,000 | 2,400 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Change in reinsurance recoverable | 46,400 | 62,600 | 32,400 | 57,200 | -57,000 | 2,400 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Change in expenses and taxes payable | |||||||||||||||||||||
23,000 | -700 | -7,300 | 3,300 | 200,700 | 213,300 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Change in expenses and taxes payable | 23,000 | -700 | -7,300 | 3,300 | 200,700 | 213,300 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Cash received for MCCA refund, partially offset by payments made to policyholders | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Cash received for MCCA refund, partially offset by payments made to policyholders | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Other, net | |||||||||||||||||||||
23,500 | 74,600 | 66,100 | 62,300 | 199,000 | 178,300 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Other, net | 23,500 | 74,600 | 66,100 | 62,300 | 199,000 | 178,300 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net cash provided by operating activities | |||||||||||||||||||||
467,500 | 557,900 | 540,300 | 722,300 | 752,100 | 723,400 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net cash provided by operating activities | 467,500 | 557,900 | 540,300 | 722,300 | 752,100 | 723,400 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Cash Flows From Investing Activities | |||||||||||||||||||||
Proceeds from disposals and maturities of fixed maturities | |||||||||||||||||||||
810,700 | 849,500 | 1,049,100 | 1,106,300 | 1,207,800 | 1,364,800 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Proceeds from disposals and maturities of fixed maturities | 810,700 | 849,500 | 1,049,100 | 1,106,300 | 1,207,800 | 1,364,800 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Proceeds from disposals of equity securities and other investments | |||||||||||||||||||||
349,800 | 282,500 | 421,000 | 488,400 | 336,800 | 341,400 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Proceeds from disposals of equity securities and other investments | 349,800 | 282,500 | 421,000 | 488,400 | 336,800 | 341,400 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Purchase of fixed maturities | |||||||||||||||||||||
1,275,000 | 1,427,500 | 1,846,600 | 1,960,200 | 1,970,400 | 2,030,900 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Purchase of fixed maturities | 1,275,000 | 1,427,500 | 1,846,600 | 1,960,200 | 1,970,400 | 2,030,900 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Purchase of equity securities and other investments | |||||||||||||||||||||
89,700 | 97,800 | 109,000 | 124,300 | 156,700 | 178,200 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Purchase of equity securities and other investments | 89,700 | 97,800 | 109,000 | 124,300 | 156,700 | 178,200 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Capital expenditures | |||||||||||||||||||||
13,600 | 14,700 | 16,400 | 17,800 | 16,200 | 14,300 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Capital expenditures | 13,600 | 14,700 | 16,400 | 17,800 | 16,200 | 14,300 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net proceeds from sale of Chaucer business | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net proceeds from sale of Chaucer business | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net cash used for business acquisitions | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net cash used for business acquisitions | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net cash used in investing activities | |||||||||||||||||||||
-217,800 | -408,000 | -501,900 | -507,600 | -598,700 | -517,200 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net cash used in investing activities | -217,800 | -408,000 | -501,900 | -507,600 | -598,700 | -517,200 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Cash Flows From Financing Activities | |||||||||||||||||||||
Proceeds from exercise of employee stock options | |||||||||||||||||||||
7,000 | 7,000 | 8,900 | 13,300 | 11,800 | 16,900 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Proceeds from exercise of employee stock options | 7,000 | 7,000 | 8,900 | 13,300 | 11,800 | 16,900 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Proceeds from short-term borrowings | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Proceeds from short-term borrowings | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Proceeds from debt borrowings, net | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Proceeds from debt borrowings, net | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Change in cash collateral related to securities lending program | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Change in cash collateral related to securities lending program | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Dividends paid to shareholders | |||||||||||||||||||||
115,700 | 113,400 | 111,100 | 108,900 | 106,700 | 105,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Dividends paid to shareholders | 115,700 | 113,400 | 111,100 | 108,900 | 106,700 | 105,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Repayment of debt | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Repayment of debt | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Repurchases of common stock | |||||||||||||||||||||
- | 10,400 | 14,500 | 30,800 | 50,800 | 64,400 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Repurchases of common stock | - | 10,400 | 14,500 | 30,800 | 50,800 | 64,400 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Other financing activities | |||||||||||||||||||||
-11,300 | -11,400 | -12,200 | -14,200 | -14,100 | -14,200 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Other financing activities | -11,300 | -11,400 | -12,200 | -14,200 | -14,100 | -14,200 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net cash used in financing activities | |||||||||||||||||||||
-120,000 | -128,200 | -128,900 | -140,600 | -159,800 | -166,700 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net cash used in financing activities | -120,000 | -128,200 | -128,900 | -140,600 | -159,800 | -166,700 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Effect of exchange rate changes on cash | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Effect of exchange rate changes on cash | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net change in cash and cash equivalents | |||||||||||||||||||||
129,700 | 21,700 | -90,500 | 74,100 | -6,400 | 39,500 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net change in cash and cash equivalents | 129,700 | 21,700 | -90,500 | 74,100 | -6,400 | 39,500 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net change in cash related to discontinued operations | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net change in cash related to discontinued operations | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||