Mercury Insurance 2012 Annual Report Download - page 113

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See accompanying notes to condensed financial information.
See accompanying Report of Independent Registered Public Accounting Firm
S-6
SCHEDULE II, Continued
MERCURY GENERAL CORPORATION
CONDENSED FINANCIAL INFORMATION OF REGISTRANT
STATEMENTS OF CASH FLOWS
Year Ended December 31,
2012 2011 2010
(Amounts in thousands)
Cash flows from operating activities:
Net cash used in operating activities $ (5,590) $ (312) $ (4,441)
Cash flows from investing activities:
Dividends from subsidiaries 145,000 270,000 128,000
Fixed maturity securities:
Calls or maturities 0 0 265
Equity securities:
Purchases (14,102)(50,056)(836)
Sales 7,308 43,520 2,070
Calls 0 0 895
Net increase in short-term investments (20,413)(21,451)(583)
Other, net 304 1,047 (110)
Net cash provided by investing activities 118,097 243,060 129,701
Cash flows from financing activities:
Dividends paid to shareholders (134,105)(132,142)(129,863)
Excess tax benefit from exercise of stock options 86 56 132
Payment to retire senior notes 0 (125,000) 0
Proceeds from stock options exercised 2,492 1,951 733
Net cash used in financing activities (131,527)(255,135)(128,998)
Net decrease in cash (19,020)(12,387)(3,738)
Cash:
Beginning of year 29,219 41,606 45,344
End of year $ 10,199 $ 29,219 $ 41,606
SUPPLEMENTAL CASH FLOW DISCLOSURE
Interest paid $ 0 $ 1,932 $ 1,972
Income taxes paid (received) $ 4,667 $ (1,252) $ (8,755)