| Cash Flow for FPIC Insurance Group Inc. (FPIC) | | | | | | | Cash Flow | in Thousands of Dollars | | | 12/2007 | 12/2006 | 12/2005 | 12/2004 | 12/2003 | | | Net Income | 50,899 | 51,588 | 35,022 | 28,181 | 16,572 | | Provision for Loan Loss | - | - | - | - | - | | Depreciation & Amortization | 24,565 | 28,652 | 28,675 | 4,536 | 3,383 | | Deferred Income Taxes | 979 | (5,475) | (1,023) | 357 | 385 | | Change in Assets (Receivables) | 30,456 | 144,766 | 55,336 | (67,553) | (113,450) | | Change in Liabilities (Payables) | (143,686) | (122,415) | 11,804 | 56,638 | 186,851 | | Investment Securities Gain | 589 | (792) | - | - | - | | Net Policy Acquisition Cost | (16,645) | (21,249) | (24,090) | (13,488) | (7,764) | | Realized Investment Gains | - | (80) | 980 | (3,603) | (1,976) | | Net Premiums Receivables | 18,764 | 10,333 | (642) | 6,937 | 7,136 | | Change in Income Taxes | - | - | - | - | (1,302) | | Other Non-Cash Items | 2,479 | (5,329) | (1,603) | 52,911 | 95 | | Net Cash from Operating Activities | (31,600) | 79,999 | 104,459 | 64,916 | 89,930 | | | | Proceeds from Sale/Mat. Inv. | 159,569 | 141,077 | 316,962 | 498,981 | 607,201 | | Purchase of Investment Securities | (143,639) | (202,576) | (403,203) | (524,068) | (696,418) | | Net Increase Fed. Funds Sold | - | - | - | - | - | | Purchase of Property & Equipment | (4,284) | (114) | (3,203) | (2,792) | (3,498) | | Acquisitions | - | 34,350 | - | - | - | | Other Investment Changes, Net | (34) | (785) | (42,644) | 2,932 | 1,589 | | Net Cash from Investing Activities | 11,612 | (28,048) | (132,088) | (24,947) | (91,126) | | | Net Change in Deposits | - | - | - | - | - | | Cash Dividends paid | - | - | - | - | - | | Repayment of Long Term Debt | - | - | - | - | (47,208) | | Change in Short Term Debt | - | - | - | - | - | | Issuance of Long term Debt | - | - | - | - | 46,083 | | Issuance of Preferred Stock | - | - | - | - | - | | Issuance of Common Stock | 1,836 | 5,735 | 3,613 | 3,217 | 4,423 | | Purchase of Treasury Stock | (50,737) | (24,607) | (1,540) | - | - | | Other Financing Activities | 430 | 2,914 | - | - | (3,627) | | Cash from Financing Activities | (48,471) | (15,958) | 2,073 | 3,217 | (329) | | | | Effect of Exchange Rate Changes | - | - | - | - | - | | Net Change in Cash & Equivalents | (68,459) | 35,993 | (25,556) | 43,186 | (1,525) | | | Cash at Beginning of Period | 138,688 | 102,695 | 128,250 | 85,064 | 86,589 | | Cash at End of Period | 70,229 | 138,688 | 102,694 | 128,250 | 85,064 | | | |
