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Cash Flow Statement (as-reported)

Consolidated GAAP Financial Data
 2016 Y2015 Y2014 Y2013 Y
Source Document12/31/201612/31/201612/31/201612/31/2015
Currency CodeUSDUSDUSDUSD
(in units)    
     
Cash Flows from Operating Activities
Net income30,801,13720,990,03314,539,01826,321,992
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation, amortization and other non-cash items6,587,2826,740,3463,523,6923,049,101
Net realized investment gains(2,525,575)(1,934,424)(3,134,081)(2,423,442)
Equity in earnings of DFSC(1,086,157)(1,277,229)(1,242,910)(2,907,867)
Changes in Assets and Liabilities
Losses and loss expenses28,459,48139,946,70342,639,13736,791,874
Unearned premiums36,562,02520,846,84025,911,72119,646,539
Accrued expenses5,786,2163,030,848164,5302,124,265
Premiums receivable(18,122,256)(7,960,450)(9,402,332)(6,708,151)
Deferred policy acquisition costs(4,200,808)(3,809,780)(4,671,098)(3,505,813)
Deferred income taxes2,030,865168,395(963,679)1,414,843
Reinsurance receivable(3,299,895)(6,092,223)(9,396,777)(28,345,791)
Accrued investment income(304,316)(239,821)(327,845)908,554
Amounts due from affiliate(12,762,087)1,147,830239,122(2,409,212)
Reinsurance balances payable889,122(4,360,766)(10,107,636)4,007,471
Prepaid reinsurance premiums(10,732,990)2,349,278(3,207,841)(1,507,780)
Current income taxes379,406(906,179)(160,525)(1,004,929)
Other, net(22,628)(2,235,228)111,941556,815
Dividends received from affiliate1,591,3001,783,70001,139,800
Net adjustments29,228,98547,197,84029,975,41919,686,477
Net cash provided by operating activities60,030,12268,187,87344,514,43746,008,469
Cash Flows from Investing Activities
Purchases of fixed maturities
Held to maturity(44,907,210)(31,310,026)(103,654,684)0
Available for sale(161,873,868)(181,106,519)(89,585,027)(148,486,404)
Purchases of equity securities(15,222,724)(14,759,861)(23,607,077)(47,156,954)
Sales of fixed maturities
Available for sale55,731,29940,321,83826,816,642133,890,611
Maturity of fixed maturities
Held to maturity19,488,64428,575,15336,832,89013,767,271
Available for sale82,586,58866,744,04538,417,97252,675,833
Sales of equity securities9,201,6578,761,4748,337,46143,204,703
Net purchases of property and equipment(384,207)(151,536)(2,127,311)(1,254,767)
Net sales of short-term investments4,061,4756,861,16679,384,147(75,851,568)
Net cash used in investing activities(51,318,346)(76,064,266)(29,184,987)(28,071,475)
Cash Flows from Financing Activities
Issuance of common stock13,822,22815,516,87010,700,63712,550,066
Cash dividends paid(14,085,934)(14,455,167)(13,575,968)(12,810,471)
Purchases of treasury stock0(28,124,675)(12,026)(376,463)
Payments on subordinated debentures NA NA NA (15,465,000)
Payments on lines of credit(12,000,000)(9,500,000)(7,500,000)(15,500,000)
Borrowings under lines of credit037,000,0003,000,00021,500,000
Net cash (used in) provided by financing activities(12,263,706)437,028(7,387,357)(10,101,868)
Net (decrease) increase in cash(3,551,930)(7,439,365)7,942,0937,835,126
Cash at beginning of year28,139,14435,578,50927,636,41619,801,290
Cash at end of year24,587,21428,139,14435,578,50927,636,416


Data shown on this page is extracted directly from the company’s documents. SNL makes every effort to line up fields, captions and headers that represent the same data over time, despite variations in how the company may report these items in different documents. In certain instances the variation in the company’s presentation over time may be too significant, potentially resulting in repeating and/or disordered items. Despite possible issues with the presentation, SNL, as always, stands by its commitment to the quality of the data.

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