| Cash Flow for Zenith National Insurance Corp. (ZNT) | | | | After Hours: $ 38.78 | 0.00 (0.00%) | Volume: 14.15 k | 4:57 PM EDT Sep 5, 2008 | | | | | | | Cash Flow | in Thousands of Dollars | | | 12/2007 | 12/2006 | 12/2005 | 12/2004 | 12/2003 | | | Net Income | 233,900 | 258,700 | 157,700 | 119,000 | 67,000 | | Provision for Loan Loss | - | - | - | - | - | | Depreciation & Amortization | 9,451 | 10,152 | 859 | 11,085 | 9,320 | | Deferred Income Taxes | - | - | - | - | - | | Change in Assets (Receivables) | (114,210) | 19,581 | 31,124 | (27,638) | (4,937) | | Change in Liabilities (Payables) | (120,351) | (190,753) | 222,960 | 292,813 | 209,607 | | Investment Securities Gain | - | - | - | - | - | | Net Policy Acquisition Cost | 3,079 | 4,057 | 1,990 | (6,742) | 1,452 | | Realized Investment Gains | (20,353) | (13,377) | (23,477) | (38,579) | (19,433) | | Net Premiums Receivables | 15,310 | 31,205 | (6,110) | 10,534 | 12,419 | | Change in Income Taxes | (9,301) | 18,108 | (20,646) | (11,915) | 12,344 | | Other Non-Cash Items | (7,709) | (38,683) | (19,540) | (2,667) | (4,000) | | Net Cash from Operating Activities | (10,184) | 98,990 | 344,860 | 345,891 | 283,772 | | | | Proceeds from Sale/Mat. Inv. | 775,814 | 890,190 | 1,868,889 | 982,860 | 979,917 | | Purchase of Investment Securities | (652,881) | (940,113) | (2,169,610) | (1,296,112) | (1,368,410) | | Net Increase Fed. Funds Sold | - | - | - | - | - | | Purchase of Property & Equipment | (12,929) | (5,985) | (12,858) | (9,747) | (10,857) | | Acquisitions | - | - | - | - | - | | Other Investment Changes, Net | - | - | 1,928 | 1,978 | 1,775 | | Net Cash from Investing Activities | 110,004 | (55,908) | (311,651) | (321,021) | (397,575) | | | Net Change in Deposits | - | - | - | - | - | | Cash Dividends paid | (100,734) | (43,241) | (29,472) | (20,849) | (18,786) | | Repayment of Long Term Debt | - | (500) | - | (7,600) | (46,500) | | Change in Short Term Debt | - | - | - | - | - | | Issuance of Long term Debt | - | - | - | - | 166,490 | | Issuance of Preferred Stock | - | - | - | - | - | | Issuance of Common Stock | 196 | 227 | 4,296 | 5,895 | 3,153 | | Purchase of Treasury Stock | - | - | (10,886) | - | - | | Other Financing Activities | 341 | 273 | - | - | - | | Cash from Financing Activities | (100,197) | (43,241) | (36,062) | (22,554) | 104,357 | | | | Effect of Exchange Rate Changes | - | - | - | - | - | | Net Change in Cash & Equivalents | (377) | (159) | (2,853) | 2,316 | (9,446) | | | Cash at Beginning of Period | 7,310 | 7,469 | 10,322 | 8,006 | 17,452 | | Cash at End of Period | 6,933 | 7,310 | 7,469 | 10,322 | 8,006 | | | |
