DONEGAL GROUP INC
For the period ended Dec 31, 2024. Filed Mar 10, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Mar 10, 2025
DGICB$27.35+6.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Cash Flows
Cash Flows
| Years Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Cash Flows from Operating Activities: | |||
| Net income (loss) | $50,862,252 | $4,425,504 | $(1,959,405) |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||
| Depreciation, amortization and other non-cash items | 3,873,161 | 4,326,446 | 4,841,559 |
| Net investment (gains) losses | (4,981,072) | (3,172,807) | 10,184,797 |
| Changes in Assets and Liabilities: | |||
| Losses and loss expenses | (5,171,788) | 5,111,080 | 43,425,457 |
| Unearned premiums | 13,064,600 | 21,758,338 | 4,694,708 |
| Accrued expenses | (1,030,269) | (279,416) | 197,731 |
| Premiums receivable | (1,514,698) | (5,745,527) | (4,983,714) |
| Deferred policy acquisition costs | 1,696,437 | (1,873,174) | (5,141,857) |
| Deferred income taxes | (481,743) | 229,397 | (2,958,735) |
| Reinsurance receivable | 20,689,479 | 13,959,053 | (1,111,214) |
| Accrued investment income | (416,245) | (1,084,422) | (646,321) |
| Amounts due from affiliate | (6,502,563) | (7,080,816) | 7,096,006 |
| Reinsurance balances payable | (4,413,550) | 5,263,152 | (450,281) |
| Prepaid reinsurance premiums | (7,437,407) | (8,133,066) | 16,344,443 |
| Current income taxes | 8,458,424 | 408,576 | (3,219,959) |
| Other, net | 745,019 | 511,426 | 796,805 |
| Net adjustments | 16,577,785 | 24,198,240 | 69,069,425 |
| Net cash provided by operating activities | 67,440,037 | 28,623,744 | 67,110,020 |
| Cash Flows from Investing Activities: | |||
| Purchases of fixed maturities: | |||
| Held to maturity | (56,707,019) | (25,226,609) | (74,902,605) |
| Available for sale | (147,736,805) | (150,423,864) | (151,994,462) |
| Purchases of equity securities | (8,697,500) | (5,128,994) | (15,862,888) |
| Sales of fixed maturities: | |||
| Available for sale | 7,184,635 | 28,154,556 | 24,381,244 |
| Maturity of fixed maturities: | |||
| Held to maturity | 30,548,257 | 32,923,991 | 53,747,886 |
| Available for sale | 116,612,046 | 58,277,402 | 75,759,806 |
| Sales of equity securities | 3,010,413 | 19,745,875 | 34,973,196 |
| Net sales (purchases) of property and equipment | 743 | (44,701) | 28,290 |
| Net sales (purchases) of short-term investments | 7,746,664 | 25,015,703 | (44,628,770) |
| Net cash used in investing activities | (48,038,566) | (16,706,641) | (98,498,303) |
| Cash Flows from Financing Activities: | |||
| Issuance of common stock | 32,433,403 | 8,645,530 | 19,304,956 |
| Cash dividends paid | (22,701,216) | (21,893,692) | (20,502,716) |
| Net cash provided by (used in) financing activities | 9,732,187 | (13,248,162) | (1,197,760) |
| Net increase (decrease) in cash | 29,133,658 | (1,331,059) | (32,586,043) |
| Cash at beginning of year | 23,792,273 | 25,123,332 | 57,709,375 |
| Cash at end of year | $52,925,931 | $23,792,273 | $25,123,332 |
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Index
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