Mercury Insurance 2013 Annual Report Download - page 107

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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,
2013 2012 2011
(Amounts in thousands)
Cash flows from operating activities:
Net cash used in operating activities $ (843) $ (5,590) $ (312)
Cash flows from investing activities:
Capital contribution to controlled entities (40,000) 0 0
Dividends from subsidiaries 120,000 145,000 270,000
Equity securities:
Purchases (25,038)(14,102)(50,056)
Sales 25,798 7,308 43,520
Increase in payable for securities, net 2,489 0 0
Net decrease (increase) in short-term investments 36,085 (20,413)(21,451)
Other, net 770 304 1,047
Net cash provided by investing activities 120,104 118,097 243,060
Cash flows from financing activities:
Dividends paid to shareholders (134,776)(134,105)(132,142)
Excess tax benefit from exercise of stock options 202 86 56
Payment to retire senior notes 0 0 (125,000)
Proceeds from stock options exercised 1,446 2,492 1,951
Proceeds from bank loan 50,000 0 0
Net cash used in financing activities (83,128)(131,527)(255,135)
Net increase (decrease) in cash 36,133 (19,020)(12,387)
Cash:
Beginning of year 10,199 29,219 41,606
End of year $ 46,332 $ 10,199 $ 29,219
SUPPLEMENTAL CASH FLOW DISCLOSURE
Interest paid $ 318 $ 0 $ 1,932
Income taxes (received) paid $ (827) $ 4,667 $ (1,252)