Mercury Insurance 2015 Annual Report Download - page 112

Download and view the complete annual report

Please find page 112 of the 2015 Mercury Insurance annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 122

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122

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,
2015 2014 2013
(Amounts in thousands)
Cash flows from operating activities:
Net cash provided by (used in) operating activities $ 548 $ (3,434)$ (843)
Cash flows from investing activities:
Capital contribution to subsidiaries (90,125)(30,125)(40,125)
Distributions received from special purpose entities 8,883 6,756 —
Dividends received from subsidiaries 133,000 225,000 120,000
Purchases of fixed maturity securities available for sale in nature (571)— —
Equity securities available for sale in nature
Purchases (146,236)(254,572)(25,038)
Sales 192,005 90,422 25,798
(Decrease) in payable for securities, net — (2,489) 2,489
Net decrease in short-term investments 8,612 1,346 36,085
Business acquisition (6,000)— —
Other, net 1,945 2,191 895
Net cash provided by investing activities 101,513 38,529 120,104
Cash flows from financing activities:
Dividends paid to shareholders (136,386)(135,496)(134,776)
Excess tax benefit from exercise of stock options 27 148 202
Proceeds from stock options exercised 2,111 6,247 1,446
Proceeds from bank loan — 100,000 50,000
Net cash used in financing activities (134,248)(29,101)(83,128)
Net (decrease) increase in cash (32,187) 5,994 36,133
Cash:
Beginning of year 52,326 46,332 10,199
End of year $ 20,139 $ 52,326 $ 46,332
SUPPLEMENTAL CASH FLOW DISCLOSURE
Interest paid $ 2,153 $ 1,757 $ 318
Income taxes paid (received) $ 1,807 $ 2,112 $ (827)