← PROASSURANCE CORP
| Annual Trend | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | ||||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||||
| Net Income (Loss) Attributable to Parent | $151.1m |
$107.3m
-29.00%
|
$47.1m
-56.13%
|
$1.0m
-97.87%
|
($175.7m)
-17602.69%
|
$144.1m
+182.02%
|
($402k)
-100.28%
|
($38.6m)
-9502.99%
|
$52.7m
+236.63%
|
$50.9m
-3.47%
|
— | |
| Depreciation, Depletion and Amortization | $32.8m | $28.8m | $21.3m | $18.7m | — | — | $38.1m | $26.0m | $17.8m | $13.7m | $12.8m | |
| Depreciation, Amortization and Accretion, Net | $6.5m | $28.8m | $21.3m | $18.7m | $21.4m | $37.2m | $38.1m | $26.0m | $17.8m | $13.7m | $12.8m | |
| Amortization | $26.3m | — | — | — | — | — | — | — | — | — | $897k | |
| Amortization of Intangible Assets | $8.1m | $5.8m | $6.2m | $6.1m | $6.2m | $6.4m | $6.5m | $6.5m | $6.1m | $5.7m | — | |
| Deferred Policy Acquisition Costs, Amortization Expense | $88.4m | $95.8m | $104.5m | $115.3m | $110.6m | $110.6m | $133.2m | $134.8m | $135.4m | $131.3m | — | |
| Amortization Of Securities | — | — | — | — | — | — | $792k | ($2.2m) | $1.3m | $1.7m | $897k | |
| Deferred Income Tax Expense (Benefit) | — | $1.7m | ($11.8m) | ($28.6m) | ($21.1m) | $1.3m | ($6.6m) | ($1.8m) | $12.8m | $16.8m | $17.6m | |
| Deferred Tax | — | — | — | — | — | — | ($6.6m) | ($1.8m) | $12.8m | $16.8m | $17.6m | |
| Share-based Payment Arrangement, Noncash Expense | $12.5m | $10.6m | $5.3m | $3.5m | $3.8m | $4.4m | $4.8m | $5.2m | $6.2m | $7.8m | $8.3m | |
| Goodwill, Impairment Loss | $0 | $0 | $0 | $0 | $161.1m | $0 | $0 | $44.1m | $0 | $0 | $0 | |
| Asset Impairment Charge | — | — | — | — | — | — | $0 | $44.1m | $0 | $0 | $0 | |
| Income (Loss) from Equity Method Investments | ($5.8m) | $8.0m | $8.9m | ($10.1m) | ($11.9m) | — | — | — | — | — | — | |
| Earnings (Loss)es From Equity Investments | — | — | — | — | — | — | ($4.9m) | ($6.8m) | ($22.2m) | ($16.3m) | ($15.2m) | |
| Changes in operating assets and liabilities: | ||||||||||||
| Change In Working Capital | — | — | — | — | — | — | ($124.5m) | ($81.9m) | ($96.0m) | ($126.1m) | ($153.6m) | |
| Change In Receivables | — | — | — | — | — | — | ($5.0m) | $10.5m | $6.7m | $605k | $9.5m | |
| Changes In Account Receivables | — | — | — | — | — | — | ($5.0m) | $10.5m | $6.7m | $605k | $9.5m | |
| Liability for Unpaid Claims and Claims Adjustment Expense, Incurred Claims | $443.2m | $469.2m | $593.2m | $753.9m | $661.4m | $752.2m | $776.8m | $800.5m | $739.4m | $665.4m | — | |
| Increase (Decrease) in Other Operating Assets | ($15.7m) | $792k | $4.2m | $13.5m | $13.7m | ($12.7m) | ($12.1m) | $5.0m | $9.4m | ($13.7m) | — | |
| Change In Other Current Assets | — | — | — | — | — | — | $12.1m | ($5.0m) | ($9.4m) | $13.7m | $2.6m | |
| Change In Other Current Liabilities | — | — | — | — | — | — | ($32.2m) | ($2.3m) | $22.1m | $3.8m | $22.0m | |
| Net Cash Provided by (Used in) Operating Activities | $169.1m |
$149.0m
-11.90%
|
$177.3m
+18.97%
|
$148.2m
-16.42%
|
$92.3m
-37.68%
|
$74.0m
-19.90%
|
($29.8m)
-140.34%
|
($49.9m)
-67.17%
|
($10.7m)
+78.52%
|
($25.6m)
-139.10%
|
($35.3m)
-37.92%
|
|
| Cash flows from investing activities: | ||||||||||||
| Capital Expenditure | — | — | — | — | — | — | ($4.4m) | ($4.8m) | ($9.0m) | ($3.6m) | ($3.5m) | |
| Debt Securities, Available-for-sale, Allowance for Credit Loss, Not Previously Recorded | — | — | — | — | $1.5m | — | $980k | $151k | $2.5m | $1.7m | — | |
| Gain (Loss) on Investments | $34.9m | $16.4m | ($43.5m) | $59.9m | $15.7m | $24.3m | ($33.2m) | $13.8m | $1.9m | ($5.5m) | $5.0m | |
| Payments to Acquire Businesses, Net of Cash Acquired | — | — | — | — | — | $221.6m | $0 | $0 | — | — | ($24.8m) | |
| Payments for (Proceeds from) Other Investing Activities | ($4.8m) | $9.4m | $1.3m | $5k | $2.0m | $0 | $2.7m | ($2.7m) | $0 | ($966k) | — | |
| Net Other Investing Changes | — | — | — | — | — | — | ($2.7m) | $2.7m | — | $966k | $966k | |
| Net Cash Provided by (Used in) Investing Activities | ($278.9m) | $224.7m | $214.9m | $50.5m | ($8.5m) | ($85.5m) | ($62.0m) | $141.1m | $10.7m | $19.4m | $19.7m | |
| Cash flows from financing activities: | ||||||||||||
| Proceeds from Issuance of Long-term Debt | — | $40.5m | — | — | — | — | — | — | — | — | — | |
| Issuance Of Debt | — | — | — | — | — | — | $0 | $250.0m | — | — | $250.0m | |
| Long Term Debt Issuance | — | — | — | — | — | — | $0 | $250.0m | — | — | — | |
| Long Term Debt Payments | — | — | — | — | — | — | $0 | ($250.0m) | ($4.7m) | ($6.2m) | ($6.2m) | |
| Net Issuance Payments Of Debt | — | — | — | — | — | — | $0 | $0 | ($4.7m) | ($6.2m) | ($6.2m) | |
| Net Long Term Debt Issuance | — | — | — | — | — | ($36.1m) | — | ($250.0m) | ($4.7m) | ($6.2m) | ($6.2m) | |
| Net Short Term Debt Issuance | — | — | — | — | — | — | $0 | $250.0m | — | — | $250.0m | |
| Repayment Of Debt | — | — | — | — | — | — | $0 | ($250.0m) | ($4.7m) | ($6.2m) | ($6.2m) | |
| Payments for Repurchase of Common Stock | $2.1m | $0 | $0 | — | — | — | $3.3m | $50.5m | — | — | — | |
| Payments of Ordinary Dividends, Common Stock | $118.8m | $315.2m | $316.5m | $93.2m | $38.7m | $10.8m | $10.8m | $5.4m | $0 | $0 | $0 | |
| Common Stock Dividend Paid | — | — | — | — | — | — | ($10.8m) | ($5.4m) | $0 | $0 | $0 | |
| Common Stock Issuance | — | — | — | — | — | — | ($3.3m) | ($50.5m) | $8k | $0 | $0 | |
| Common Stock Payments | — | — | — | — | — | $0 | ($3.3m) | ($50.5m) | — | — | $0 | |
| Issuance Of Capital Stock | — | — | — | — | — | — | — | — | $8k | $0 | $0 | |
| Repurchase Of Capital Stock | — | — | — | — | — | $0 | ($3.3m) | ($50.5m) | — | — | $0 | |
| Dividends Payable | $265.7m | $267.3m | $43.4m | $16.7m | $2.7m | $2.7m | $2.7m | $0 | $0 | — | — | |
| Cash Dividends Paid | — | — | — | — | — | — | ($10.8m) | ($5.4m) | $0 | $0 | $0 | |
| Dividend Received CFO | — | — | — | — | — | $35.2m | $30.3m | $15.4m | — | $22.9m | $23.2m | |
| Proceeds from (Payments for) Other Financing Activities | ($3.7m) | ($7.7m) | ($4.3m) | ($4.1m) | ($935k) | ($288k) | $1.1m | ($3.0m) | ($1.3m) | ($2.6m) | — | |
| Net Other Financing Charges | — | — | — | — | — | — | ($7.8m) | $552k | ($6.3m) | ($6.0m) | ($7.6m) | |
| Net Cash Provided by (Used in) Financing Activities | ($13.9m) |
($356.5m)
-2458.60%
|
($446.2m)
-25.15%
|
($103.8m)
+76.74%
|
($43.4m)
+58.14%
|
($60.6m)
-39.54%
|
($21.8m)
+64.03%
|
($55.3m)
-153.68%
|
($11.0m)
+80.16%
|
($12.2m)
-11.20%
|
($13.9m)
-13.66%
|
|
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | — | — | — | $94.9m | $40.4m | ($72.2m) | ($113.6m) | $35.9m | ($11.0m) | ($18.4m) | $14.1m | |
| Beginning Cash Position | — | — | — | — | — | — | $143.6m | $30.0m | $65.9m | $54.9m | $43.5m | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | — | — | $175.4m | $215.8m | $143.6m | $30.0m | $65.9m | $54.9m | $36.5m | $14.1m | |
| Additional Supplementary Disclosures | ||||||||||||
| Additional Supplementary Disclosures | ||||||||||||
| Supplemental disclosure of cash flow information: | ||||||||||||
| Interest Paid, Excluding Capitalized Interest, Operating Activities | — | — | $16.2m | $14.3m | $14.7m | $14.5m | $19.7m | $22.3m | $23.4m | $19.0m | — | |
| Income Taxes Paid, Net | ($8.7m) | $17.2m | $5.7m | $2.7m | ($8.8m) | ($9.5m) | $2.3m | ($11.2m) | $1.4m | $3.5m | — | |
| Additional Financial Items | ||||||||||||
| Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement | — | — | — | — | — | $65k | ($163k) | $0 | $0 | — | — | |
| Equity Securities, FV-NI, Gain (Loss) | — | — | $12.8m | — | — | — | — | — | — | — | — | |
| Equity Securities, FV-NI, Realized Gain (Loss) | — | — | — | — | $13.2m | $7.3m | ($5.3m) | $496k | $2.6m | ($636k) | — | |
| Equity Securities, FV-NI, Unrealized Gain (Loss) | — | — | — | $30.7m | ($16.3m) | ($2.9m) | ($22.2m) | $5.7m | ($2.3m) | $490k | — | |
| Foreign Currency Transaction Gain (Loss), Realized | — | — | — | — | — | — | — | — | — | $15.9m | — | |
| Gain (Loss) on Sale of Properties | — | — | — | — | — | — | — | — | — | $2.2m | — | |
| Goodwill | $210.7m | $210.7m | $210.7m | $210.7m | $49.6m | $49.6m | $49.6m | $5.5m | $5.5m | $5.5m | $0 | |
| Income Tax Expense (Benefit) | $25.1m | $21.4m | ($18.0m) | ($29.8m) | ($41.3m) | $2.5m | ($5.8m) | ($545k) | $10.3m | $21.2m | — | |
| Operating Expenses | — | $140.0m | $134.1m | $138.2m | — | — | — | — | — | — | — | |
| Operating Lease, Expense | — | — | — | $4.5m | $4.4m | $5.0m | $5.4m | — | — | — | — | |
| Proceeds from Stock Options Exercised | — | $0 | — | — | — | — | — | — | — | — | — | |
| Provision for Loan, Lease, and Other Losses | $700k | $500k | $500k | — | — | — | — | — | — | — | — | |
| Realized Investment Gains (Losses) | — | $16.4m | ($43.5m) | $59.9m | $15.7m | $24.3m | — | — | — | — | — | |
| Cash Flow From Continuing Financing Activities | — | — | — | — | — | — | ($21.8m) | ($55.3m) | ($11.0m) | ($12.2m) | ($13.9m) | |
| Cash Flow From Continuing Investing Activities | — | — | — | — | — | — | ($62.0m) | $141.1m | $10.7m | $19.4m | $19.7m | |
| Change In Cash Supplemental As Reported | — | — | — | — | — | — | ($113.6m) | $35.9m | ($11.0m) | ($18.4m) | — | |
| Change In Other Working Capital | — | — | — | — | — | — | $20.5m | ($26.0m) | $43.2m | $36.4m | $32.2m | |
| Changes In Cash | — | — | — | — | — | — | ($113.6m) | $35.9m | ($11.0m) | ($18.4m) | ($29.5m) | |
| End Cash Position | — | — | — | — | — | — | $30.0m | $65.9m | $54.9m | $36.5m | $14.1m | |
| Financing Cash Flow | — | — | — | — | — | — | ($21.8m) |
($55.3m)
-153.68%
|
($11.0m)
+80.16%
|
($12.2m)
-11.20%
|
($13.9m)
-13.66%
|
|
| Free Cash Flow | — | — | — | — | — | — | ($34.2m) | ($54.7m) | ($19.7m) | ($29.2m) | ($38.8m) | |
| Gain Loss On Investment Securities | — | — | — | — | — | — | $30.1m | $13.1m | $18.3m | $5.5m | $5.0m | |
| Investing Cash Flow | — | — | — | — | — | — | ($62.0m) | $141.1m | $10.7m | $19.4m | $19.7m | |
| Net Business Purchase And Sale | — | — | — | — | — | — | $48.6m | $22.0m | $39.7m | $19.4m | $20.7m | |
| Net Investment Purchase And Sale | — | — | — | — | — | — | ($103.6m) | $121.2m | ($20.0m) | ($16.6m) | ($4.1m) | |
| Net PPE Purchase And Sale | — | — | — | — | — | — | ($4.4m) | ($4.8m) | ($9.0m) | $15.7m | ($3.5m) | |
| Operating Gains Losses | — | — | — | — | — | — | $25.2m | $6.3m | ($4.0m) | ($13.0m) | ($10.2m) | |
| Other Non Cash Items | — | — | — | — | — | — | ($550k) | $4.5m | ($2.6m) | ($341k) | — | |
| Purchase Of Business | — | — | — | — | — | — | ($74.4m) | ($38.3m) | ($27.9m) | ($43.1m) | ($24.8m) | |
| Purchase Of Investment | — | — | — | — | — | — | ($681.3m) | ($464.9m) | ($798.4m) | ($924.1m) | ($851.9m) | |
| Purchase Of PPE | $10.9m | $10.5m | $9.6m | $9.6m | — | — | ($4.4m) | ($4.8m) | ($9.0m) | ($3.6m) | ($3.5m) | |
| Sale Of Business | — | — | — | — | — | — | $123.0m | $60.4m | $67.6m | $62.5m | $45.5m | |
| Sale Of Investment | — | — | — | — | — | — | $577.6m | $586.2m | $778.4m | $907.5m | $847.8m | |
| Sale Of PPE | — | — | — | — | — | — | — | $0 | $0 | $19.3m | $0 | |
| Stock Based Compensation | — | — | — | — | — | — | $4.8m | $5.2m | $6.2m | $7.8m | $8.3m | |
| Unrealized Gain Loss On Investment Securities | — | — | — | — | — | — | $33.3m | ($11.6m) | $1.0m | ($36k) | $2.2m |