WHITE MOUNTAINS INSURANCE GROUP, LTD WTM Cash Flow

White mountains insurance group, ltd (WTM)

CashFlow / Yearly

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 operations:
Cash flows from operations:
Net (loss) income
376,600	-191,400	593,100	409,000	276,700	290,000	309,100	193,400	809,400	139,500	579,500	-629,700
Adjustments to reconcile net income to net cash used for operations:
Gain (Loss) on Investments
433,200	-108,300	133,300	-27,400	260,500	78,500	133,900	118,200	74,100	77,600	361,700	-1,107,100
Realized gain from the MediaAlpha Transaction
-67,500	0	0	-	-	-	-	-	-	-	-	-
Excess of fair value of acquired net assets over cost
-	-	-	-	-	-	-	34,200	7,200	12,800	-	4,200
Deferred income tax (benefit) expense
24,800	-8,400	-11,400	-12,500	11,300	-22,500	10,100	-16,800	-71,000	70,700	170,000	-466,900
Undistributed equity in earnings from unconsolidated affiliates, after-tax
-	-	-	-	25,100	45,600	36,600	29,900	-20,200	9,900	24,300	5,800
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest
0	0	20,500	108,300	116,900	260,600	99,900	-24,000	-36,700	-30,100	-27,800	-
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax
800	-17,200	557,000	415,100	18,200	-1,600	46,600	-91,000	658,300	-	-	-
Net gain on sale of unconsolidated affiliates
-	-	-	-	19,800	0	21,300	0	0	-	-	-
Amortization of restricted share and option awards
10,500	13,000	14,800	18,500	14,900	-	-	-	-	-	-	-
Amortization and depreciation
29,800	25,700	22,400	20,400	3,800	35,300	28,600	50,800	-	-	-	-
Other operating items:
Net change in funds held by ceding entities
-	-	-	-	-	-	-	17,700	-11,600	-16,400	-62,900	-21,600
Net change in ceded unearned premiums
-	-	-	-	-	3,500	2,800	0	8,600	-4,400	-13,300	600
Net change in funds held under insurance treaties
-	-	-	-	-	-17,700	-57,400	-10,600	42,400	10,600	-10,300	23,500
Net change in Premiums and Commissions Receivable
-	-	-	-	-	8,800	2,600	79,200	42,400	123,400	-71,400	8,100
Net change in loss and loss adjustment expense reserves
-	-	-	-	-	282,200	54,300	172,200	23,400	73,600	731,400	225,300
Net change in reinsurance recoverable on paid and unpaid losses
-	-	-	-	-	83,200	-20,700	-42,400	-66,000	-115,200	-306,200	-242,500
Net change in unearned insurance premiums
35,800	39,200	54,500	31,700	23,900	57,600	-15,800	63,100	-67,000	24,700	-132,200	59,900
Net change in variable annuity benefit guarantee liabilities
-	-	-	-	-	-	388,700	327,100	-158,300	-229,500	86,400	-
Net change in variable annuity benefit guarantee derivative instruments
-	-	-	-	-	-	-29,100	-192,100	-57,100	153,000	-	-
Net change in deferred acquisition costs
3,100	4,200	4,200	3,700	3,000	1,800	-18,500	5,700	15,300	2,300	-25,400	7,600
Net change in ceded reinsurance payable
-	-	-	-	-	-	10,200	3,800	39,500	500	-20,200	700
Net change in restricted cash
-6,300	3,400	0	0	-17,900	-32,400	-193,700	-203,700	166,800	-	-	-
Investments in asset management firms - Kudu
118,400	0	0	-	-	-	-	-	-	-	-	-
Net change in other assets and liabilities, net
-18,700	27,100	20,800	146,100	-29,000	142,400	23,000	103,500	62,200	89,500	-27,500	-29,000
Net cash used for continuing operations
-120,500	-31,100	-62,400	-178,700	-66,000	69,900	-39,500	-29,600	94,100	28,900	-61,900	-
Net cash provided from discontinued operations (See Note 20)
0	0	157,000	23,600	248,400	48,900	-61,500	-196,200	-208,600	27,100	15,200	-
Net cash used for operations
-120,500	-31,100	94,600	-155,100	182,400	118,800	-101,000	-225,800	-114,500	56,000	-46,700	89,100
Cash flows from investing activities:
Net change in short-term investments
-21,900	39,000	1,700	27,200	-6,900	138,000	-64,600	-145,300	-174,500	-475,600	-218,400	1,005,600
Sales of fixed maturity and convertible investments
334,300	1,848,500	2,124,400	2,605,800	518,200	2,210,800	1,925,300	6,040,000	3,481,900	2,447,800	2,121,900	3,666,400
Maturities, calls and paydowns of fixed maturity and convertible investments
119,300	141,000	213,400	253,400	72,600	452,400	280,900	678,400	1,163,600	1,744,100	1,206,900	1,418,800
Sales of common equity securities
467,200	169,900	424,100	815,900	115,800	609,800	435,000	192,400	237,800	167,500	300,800	885,900
Distributions and redemptions of other long-term investments and settlements of forward contracts
29,400	5,000	29,400	17,300	44,100	64,500	31,600	86,700	150,700	133,200	118,900	135,600
Sales of trust account investments
-	-	-	-	-	-	-	-	-	-	-	305,500
Sales of unconsolidated affiliates and consolidated subsidiaries, net of cash sold
0	0	1,131,000	2,646,200	24,000	0	32,400	24,800	1,010,600	188,300	-	11,600
Proceeds paid to non-controlling common shareholders from the sale of consolidated subsidiaries
-	-	-	141,600	0	0	-	-	-	-	-	-
Net change in cash during the period
-	-	-	-	-	-	-	-	-	-15,500	-3,800	-
Purchases of other long-term investments
177,700	95,900	84,100	38,500	73,900	114,700	22,000	96,700	65,800	111,100	25,200	70,700
Net settlement of investment cash flows and contributions with discontinued operations
0	0	-167,700	402,000	-18,000	88,100	-	-	-	-	-	-
Purchases of common equity securities
29,800	328,300	881,200	278,300	86,400	289,700	366,500	365,200	297,800	273,600	190,100	565,800
Purchases of fixed maturity and convertible investments
539,200	970,200	2,365,200	4,407,000	533,700	2,456,100	2,047,900	5,810,100	5,200,600	4,217,700	3,296,500	3,590,000
Payments to Acquire Businesses and Interest in Affiliates
258,000	295,200	27,600	13,400	2,600	205,000	0	41,300	3,200	4,900	-	224,300
Other investing activities, net
-	-	-	0	-	-44,700	3,700	-22,400	47,000	1,600	52,100	84,000
Net acquisitions of property and equipment
-	-	-	-	-	4,500	11,700	2,300	5,500	5,800	7,600	9,600
Net cash (used for) provided from investing activities — continuing operations
-59,900	459,200	715,500	1,035,400	111,800	-3,300	253,100	633,400	521,400	496,900	376,500	-
Net cash provided from investing activities — discontinued operations (See Note 20)
0	0	3,000	241,400	-100,500	51,200	148,700	196,200	278,200	-11,600	-11,400	-
Net cash provided from (used for) investing activities
-59,900	459,200	718,500	1,276,800	11,300	47,900	401,800	829,600	799,600	485,300	365,100	1,041,800
Cash flows from financing activities:
Draw down of debt and revolving line of credit
206,400	84,100	376,000	352,500	171,500	133,600	200,000	150,000	0	0	-	-
Repayments of Debt
22,900	15,400	365,000	404,600	76,100	65,200	275,000	75,000	0	14,000	242,800	452,800
Proceeds from issuances of common shares
-	-	-	3,700	0	0	-	-	900	700	900	600
Issuance of debt
-	-	-	-	-	-	-	-	-	-	-	650,800
Repurchase of debt
-	-	-	-	-	-	-	275,900	161,600	197,300	63,100	22,300
Issuance of debt, net of debt issuance costs
-	-	-	-	-	-	-	271,900	0	0	-	-
Change in capital lease obligation
-	-	-	-	-	5,300	5,700	4,900	23,100	0	-	-
Settlement of interest rate swap associated with Mortgage Note
-	-	-	-	-	-	-	-	-	-	7,500	-
Redemption of mandatorily redeemable preferred stock
-	-	-	-	-	-	-	-	-	-	-	300,000
Cash dividends paid to the Company’s common shareholders
3,200	3,800	4,600	5,400	6,000	6,200	6,200	6,600	8,000	8,800	8,900	42,300
Acquisitions of additional shares from non-controlling interest
0	1,700	700	-	-	-	-	-	-	-	-	-
Purchase of interest rate cap
-	-	-	-	-	-	-	0	0	-	-	-
Cash exchanged with Berkshire Hathaway Inc. for the Company's common shares
-	-	-	-	-	-	-	-	-	-	-	707,900
Distributions from discontinued operations
0	0	45,200	57,200	52,700	12,100	69,600	-	-	-	-	-
Cash dividends paid to OneBeacon Ltd.s non-controlling common shareholders
-	-	-	-	-	-	19,900	19,800	42,800	75,900	19,600	69,500
Payments of Dividends for Preference Shares to Minority Interest
-	-	-	-	-	-	-	18,800	18,800	-	-	-
Cash dividends paid on SIG Preference Shares
-	-	-	-	-	-	-	-	-	18,800	18,800	-
Cash dividends paid to mandatorily redeemable preferred shareholders
-	-	-	-	-	-	-	-	-	-	-	11,800
Cash dividends paid on White Mountains Re Group, Ltd. Preference Shares
-	-	-	-	-	-	-	-	-	-	-	18,800
Common shares repurchased
0	511,900	714,600	881,300	268,600	128,200	79,800	669,100	253,000	225,600	400	59,300
OneBeacon Ltd. common shares repurchased and retired
-	-	-	-	-	1,700	0	0	-	-	-	-
Distribution to non-controlling interest shareholders
28,100	6,000	2,000	1,100	7,500	19,800	0	0	-	10,500	-	68,800
Repurchase of shares from non-controlling interest shareholders
21,100	0	0	-	-	-	-	-	-	-	-	-
Proceeds from issuance of shares to non-controlling interest shareholders
62,700	0	0	-	-	-	-	-	-	-	-	-
Capital contributions to non-controlling interest shareholders
1,900	1,300	500	0	0	4,900	1,600	0	0	-	-	-
Payments to contingent considerations related to purchases of consolidated subsidiaries
7,600	2,600	0	7,800	0	0	-	0	0	-	-	-
Acquisition of additional subsidiary shares from non-controlling interest
-	-	-	0	9,100	0	-	-	171,800	48,100	123,100	-
Fidus Re premium payment
3,000	3,700	0	0	-	-	-	-	-	-	-	-
Payments of distributions from subsidiaries to shareholders
-	-	-	-	-	-	0	-	-	-	-	-
Capital contributions from BAM members
-54,600	-53,800	-37,400	-38,000	-29,200	-16,200	-17,100	0	0	-	-	-
Restricted share statutory withholding tax payments
-9,200	-8,400	-9,300	-5,800	-6,700	-5,500	-700	0	0	-	-	-
Net cash provided from (used for) financing activities - continuing operations
230,500	-414,300	-637,100	-854,600	-120,600	-65,100	-99,000	-	-460,200	-550,200	-360,200	-
Net cash used for financing activities - discontinued operations
0	0	-61,900	-93,800	-100,700	-64,500	-87,500	-	0	0	-	-
Net cash (used for) provided from financing activities
230,500	-414,300	-699,000	-948,400	-221,300	-129,600	-186,500	-648,200	-460,200	-550,200	-360,200	-1,102,100
Effect of exchange rate changes on cash
600	-600	0	0	-	0	0	3,100	-1,500	8,100	6,800	-7,700
Net change in cash during the period - continuing operations
50,700	13,200	16,000	-	-	-	-	-	-	-	-	-
Net change in cash during the period - continuing operations, including the effect of exchange rate changes
-	-	-	2,100	-74,800	1,500	114,600	-41,300	223,400	-800	-35,000	21,100
Add: cash held for sale, excluding discontinued operations, at the beginning of period
-	-	-	-	-	-	-	-2,000	5,500	0	-	-
Less: cash held for sale, excluding discontinued operations, at the end of period
-	-	-	-	-	-	-	-2,000	5,500	0	-	-