← PROASSURANCE CORP

Annual Trend FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
Cash flows from operating activities:
Adjustments to reconcile net income to net cash provided by operating activities:
Net Income From Continuing Operations — — — — — — ($402k) ($38.6m) $52.7m $50.9m
Net Income (Loss) Attributable to Parent $151.1m $107.3m $47.1m $1.0m ($175.7m) $144.1m ($402k) ($38.6m) $52.7m $50.9m
Depreciation, Depletion and Amortization $32.8m $28.8m $21.3m $18.7m — — $38.1m $26.0m $17.8m $13.7m
Depreciation, Amortization and Accretion, Net — $28.8m $21.3m $18.7m $21.4m $37.2m $38.1m $26.0m $17.8m $13.7m
Amortization $26.3m — — — — — — — — —
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
Depreciation $6.5m — — — — — $38.1m $26.0m $17.8m $13.7m
Amortization Of Securities — — — — — — $792k ($2.2m) $1.3m $1.7m
Deferred Income Tax Expense (Benefit) — $1.7m ($11.8m) ($28.6m) ($21.1m) $1.3m ($6.6m) ($1.8m) $12.8m $16.8m
Deferred Income Tax — — — — — — ($6.6m) ($1.8m) $12.8m $16.8m
Deferred Tax — — — — — — ($6.6m) ($1.8m) $12.8m $16.8m
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
Goodwill, Impairment Loss $0 $0 $0 $0 $161.1m $0 $0 $44.1m $0 $0
Asset Impairment Charge — — — — — — $0 $44.1m $0 $0
Income (Loss) from Equity Method Investments ($5.8m) $8.0m $8.9m ($10.1m) ($11.9m) — — — — —
Income Tax Expense (Benefit) $25.1m $21.4m ($18.0m) ($29.8m) ($41.3m) $2.5m ($5.8m) ($545k) $10.3m $21.2m
Operating Lease, Expense — — — $4.5m $4.4m $5.0m $5.4m — — —
Earnings (Loss)es From Equity Investments — — — — — — ($4.9m) ($6.8m) ($22.2m) ($16.3m)
Changes in operating assets and liabilities:
Additional Financial Items
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)
Debt Securities, Available-for-sale, Allowance for Credit Loss, Not Previously Recorded — — — — $1.5m — $980k $151k $2.5m $1.7m
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
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
Operating Expenses — $140.0m $134.1m $138.2m — — — — — —
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 — — — —
Beginning Cash Position — — — — — — $143.6m $30.0m $65.9m $54.9m
Cash Flow From Continuing Financing Activities — — — — — — ($21.8m) ($55.3m) ($11.0m) ($12.2m)
Cash Flow From Continuing Investing Activities — — — — — — ($62.0m) $141.1m $10.7m $19.4m
Change In Other Current Assets — — — — — — $12.1m ($5.0m) ($9.4m) $13.7m
Change In Other Current Liabilities — — — — — — ($32.2m) ($2.3m) $22.1m $3.8m
Change In Other Working Capital — — — — — — $20.5m ($26.0m) $43.2m $36.4m
Change In Receivables — — — — — — ($5.0m) $10.5m $6.7m $605k
Change In Working Capital — — — — — — ($124.5m) ($81.9m) ($96.0m) ($126.1m)
Changes In Account Receivables — — — — — — ($5.0m) $10.5m $6.7m $605k
Changes In Cash — — — — — — ($113.6m) $35.9m ($11.0m) ($18.4m)
End Cash Position — — — — — — $30.0m $65.9m $54.9m $36.5m
Financing Cash Flow — — — — — — ($21.8m) ($55.3m) ($11.0m) ($12.2m)
Free Cash Flow — — — — — — ($34.2m) ($54.7m) ($19.7m) ($29.2m)
Gain Loss On Investment Securities — — — — — — $30.1m $13.1m $18.3m $5.5m
Investing Cash Flow — — — — — — ($62.0m) $141.1m $10.7m $19.4m
Issuance Of Capital Stock — — — — — — — — $8k $0
Net Business Purchase And Sale — — — — — — $48.6m $22.0m $39.7m $19.4m
Net PPE Purchase And Sale — — — — — — ($4.4m) ($4.8m) ($9.0m) $15.7m
Operating Gains Losses — — — — — — $25.2m $6.3m ($4.0m) ($13.0m)
Other Non Cash Items — — — — — — ($550k) $4.5m ($2.6m) ($341k)
Purchase Of Business — — — — — — ($74.4m) ($38.3m) ($27.9m) ($43.1m)
Purchase Of PPE $10.9m $10.5m $9.6m $9.6m — — ($4.4m) ($4.8m) ($9.0m) ($3.6m)
Repurchase Of Capital Stock — — — — — $0 ($3.3m) ($50.5m) — —
Sale Of Business — — — — — — $123.0m $60.4m $67.6m $62.5m
Sale Of PPE — — — — — — — $0 $0 $19.3m
Stock Based Compensation — — — — — — $4.8m $5.2m $6.2m $7.8m
Unrealized Gain Loss On Investment Securities — — — — — — $33.3m ($11.6m) $1.0m ($36k)
Gain (Loss) on Investments $34.9m $16.4m ($43.5m) $59.9m $15.7m $24.3m ($33.2m) $13.8m $1.9m ($5.5m)
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement — — — — — $65k ($163k) $0 $0 —
Net Cash Provided by (Used in) Operating Activities $169.1m $149.0m $177.3m $148.2m $92.3m $74.0m ($29.8m) ($49.9m) ($10.7m) ($25.6m)
Cash flows from investing activities:
Capital Expenditure — — — — — — ($4.4m) ($4.8m) ($9.0m) ($3.6m)
Payments to Acquire Businesses, Net of Cash Acquired — — — — — $221.6m $0 $0 — —
Net Investment Purchase And Sale — — — — — — ($103.6m) $121.2m ($20.0m) ($16.6m)
Purchase Of Investment — — — — — — ($681.3m) ($464.9m) ($798.4m) ($924.1m)
Sale Of Investment — — — — — — $577.6m $586.2m $778.4m $907.5m
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
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
Cash flows from financing activities:
Proceeds from Issuance of Long-term Debt — $40.5m — — — — — — — —
Issuance Of Debt — — — — — — $0 $250.0m — —
Long Term Debt Issuance — — — — — — $0 $250.0m — —
Net Issuance Payments Of Debt — — — — — — $0 $0 ($4.7m) ($6.2m)
Net Long Term Debt Issuance — — — — — ($36.1m) — ($250.0m) ($4.7m) ($6.2m)
Net Short Term Debt Issuance — — — — — — $0 $250.0m — —
Short Term Debt Issuance — — — — — — $0 $250.0m — —
Long Term Debt Payments — — — — — — $0 ($250.0m) ($4.7m) ($6.2m)
Repayment Of Debt — — — — — — $0 ($250.0m) ($4.7m) ($6.2m)
Common Stock Issuance — — — — — — — — $8k $0
Net Common Stock Issuance — — — — — — ($3.3m) ($50.5m) $8k $0
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
Common Stock Payments — — — — — $0 ($3.3m) ($50.5m) — —
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
Common Stock Dividend Paid — — — — — — ($10.8m) ($5.4m) $0 $0
Dividend Received CFO — — — — — $35.2m $30.3m $15.4m — $22.9m
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)
Net Cash Provided by (Used in) Financing Activities ($13.9m) ($356.5m) ($446.2m) ($103.8m) ($43.4m) ($60.6m) ($21.8m) ($55.3m) ($11.0m) ($12.2m)
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)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents — — — $175.4m $215.8m $143.6m $30.0m $65.9m $54.9m $36.5m
Supplemental disclosure of cash flow information:
Change In Cash Supplemental As Reported — — — — — — ($113.6m) $35.9m ($11.0m) ($18.4m)
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

Data sourced from SEC EDGAR 10-K filings via EdgarTools. Amounts are shown in USD as reported in each fiscal year filing.