|
Net income (loss)
|
|
($141.4m)
|
($367.9m)
|
($326.5m)
|
($263.0m)
|
($28.6m)
|
$62.6m
|
|
Depreciation and amortization
|
|
$6.7m
|
$11.0m
|
$15.2m
|
$19.8m
|
$23.2m
|
$20.4m
|
|
Impairment and restructuring charges
|
|
—
|
—
|
$53.5m
|
$2.9m
|
$3.3m
|
$5.0m
|
|
Stock–based compensation expense
|
|
$17.2m
|
$24.3m
|
$61.9m
|
$57.5m
|
$38.2m
|
$29.3m
|
|
Fair value adjustments
|
|
—
|
—
|
$100k
|
$4.5m
|
$1.7m
|
($600k)
|
|
Gain on sale of business
|
|
—
|
—
|
$0
|
$0
|
($54.4m)
|
($95.0m)
|
|
Other non-cash items
|
|
$1.3m
|
$2.1m
|
($3.0m)
|
($7.4m)
|
($6.2m)
|
($8.3m)
|
|
Accounts receivable, net
|
|
($14.7m)
|
($19.5m)
|
($50.9m)
|
($38.0m)
|
($21.9m)
|
($85.4m)
|
|
Reinsurance recoverables
|
|
($17.7m)
|
($132.8m)
|
($19.4m)
|
$5.0m
|
($4.0m)
|
($61.3m)
|
|
Ceding commissions receivable
|
|
($3.4m)
|
($20.3m)
|
($4.2m)
|
($28.0m)
|
($5.7m)
|
($19.2m)
|
|
Prepaid reinsurance premiums
|
|
$2.5m
|
($102.2m)
|
($78.3m)
|
($25.7m)
|
$61.4m
|
($79.5m)
|
|
Other assets
|
|
($7.8m)
|
($32.8m)
|
$8.9m
|
$6.2m
|
($6.4m)
|
($16.2m)
|
|
Provision for commission
|
|
$15.3m
|
($15.9m)
|
($7.3m)
|
$19.7m
|
$9.7m
|
$2.0m
|
|
Accrued expenses and other liabilities
|
|
$10.9m
|
$35.4m
|
$19.6m
|
($5.5m)
|
($17.5m)
|
$7.4m
|
|
Losses and loss adjustment expense reserves
|
|
$11.8m
|
$155.7m
|
$33.0m
|
$28.7m
|
$27.5m
|
$70.4m
|
|
Unearned premiums
|
|
$18.1m
|
$102.8m
|
$88.2m
|
$77.9m
|
$38.7m
|
$121.8m
|
|
Reinsurance premiums payable
|
|
$10.0m
|
$73.3m
|
$47.7m
|
$53.0m
|
($11.5m)
|
$55.8m
|
|
Capitalized internal use software costs
|
|
($9.0m)
|
($13.3m)
|
($14.8m)
|
($17.1m)
|
($11.7m)
|
($13.2m)
|
|
Purchases of property and equipment
|
|
($400k)
|
($800k)
|
($4.9m)
|
($29.6m)
|
($300k)
|
($100k)
|
|
Purchases of fixed maturities
|
|
($16.7m)
|
($26.2m)
|
($793.0m)
|
($55.3m)
|
($97.7m)
|
($138.4m)
|
|
Maturities of fixed maturities
|
|
$76.8m
|
$5.8m
|
$401.6m
|
$15.6m
|
$49.1m
|
$51.6m
|
|
Sales of fixed maturities
|
|
$30.7m
|
$10.7m
|
$7.2m
|
$3.2m
|
$1.4m
|
$2.9m
|
|
Proceeds from sale of business, net
|
|
—
|
—
|
$0
|
$0
|
$67.2m
|
$65.8m
|
|
Other
|
|
$0
|
($1.6m)
|
($5.3m)
|
($3.2m)
|
$200k
|
$0
|
|
Proceeds from surplus note, net
|
|
—
|
—
|
—
|
$0
|
$0
|
$47.9m
|
|
Share repurchases under program
|
|
—
|
—
|
$0
|
($1.8m)
|
($15.6m)
|
($14.5m)
|
|
Payments of contingent consideration
|
|
($3.9m)
|
($2.4m)
|
($1.7m)
|
($1.3m)
|
($900k)
|
($400k)
|
|
Net cash provided by (used in) operating activities
|
|
($65.4m)
|
($124.5m)
|
($161.5m)
|
($92.4m)
|
$47.5m
|
$9.2m
|
|
Purchases of short-term investments
|
|
—
|
—
|
($704.2m)
|
($354.3m)
|
($270.1m)
|
($287.6m)
|
|
Maturities of short-term investments
|
|
—
|
—
|
$391.4m
|
$471.6m
|
$286.2m
|
$299.4m
|
|
Sales of short-term investments
|
|
—
|
—
|
$700k
|
$26.7m
|
$200k
|
$8.4m
|
|
Net cash provided by (used in) investing activities
|
|
($2.3m)
|
($30.0m)
|
($405.9m)
|
$57.6m
|
$30.3m
|
($11.2m)
|
|
Proceeds from issuance of common stock
|
|
—
|
—
|
$4.1m
|
$2.8m
|
$6.7m
|
$3.8m
|
|
Acquisitions of noncontrolling interests
|
|
—
|
—
|
$0
|
($3.2m)
|
($200k)
|
$0
|
|
Distributions to noncontrolling interests and other
|
|
—
|
—
|
($5.3m)
|
($6.4m)
|
($20.2m)
|
($8.1m)
|
|
Net cash used in financing activities
|
|
$518.1m
|
$480.8m
|
($6.8m)
|
($14.6m)
|
($40.1m)
|
$19.3m
|
|
Net increase (decrease) in cash, cash equivalents, and restricted cash
|
|
$450.4m
|
$326.3m
|
($574.2m)
|
($49.4m)
|
$37.7m
|
$17.3m
|
|
Cash, cash equivalents, and restricted cash at the beginning of the period
|
|
$492.4m
|
$818.7m
|
$244.5m
|
$195.1m
|
$232.8m
|
$250.1m
|
|
Taxes paid related to net share settlement of equity awards
|
|
—
|
$0
|
($3.9m)
|
($4.7m)
|
($9.9m)
|
($9.4m)
|