RLI CORP
For the period ended Dec 31, 2024. Filed Feb 21, 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 Feb 21, 2025
RLI$68.87+1.4%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
| | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|
| · · Years ended December 31, | |||||||||
| (in thousands) | 2024 | 2023 | 2022 | ||||||
| Cash flows from operating activities: | | | | | | | | | |
| Net earnings | | $345,779 | | $304,611 | | $583,411 | |||
| Adjustments to reconcile net earnings to net cash provided by operating activities: | | | | | | | | | |
| Net realized gains | | (19,966) | | (32,518) | | (588,515) | |||
| Net unrealized (gains) losses on equity securities | | | (81,734) | | | (64,787) | | | 121,037 |
| Depreciation | | 7,664 | | 8,545 | | 7,981 | |||
| Deferred income tax expense (benefit) | | 10,052 | | 7,710 | | (49,639) | |||
| Other items, net | | 13,725 | | 24,947 | | (20,467) | |||
| Change in: | | | | | | | | | |
| Accrued investment income | | (4,257) | | (2,803) | | (3,754) | |||
| Premiums and reinsurance balances receivable (net of direct write-offs and commutations) | | (9,328) | | (31,705) | | (22,222) | |||
| Reinsurance balances payable | | (26,826) | | 10,407 | | 18,249 | |||
| Funds held | | (4,066) | | 302 | | 11,371 | |||
| Ceded unearned premiums | | (12,698) | | 26,200 | | (7,541) | |||
| Reinsurance balances recoverable on unpaid losses and settlement expenses | | 1,924 | | (17,260) | | (132,003) | |||
| Deferred policy acquisition costs | | (19,648) | | (18,707) | | (24,306) | |||
| Accrued expenses | | 15,362 | | 14,011 | | (3,405) | |||
| Unpaid losses and settlement expenses | | 247,445 | | 130,388 | | 272,082 | |||
| Unearned premiums | | 91,814 | | 107,241 | | 104,641 | |||
| Current income taxes payable | | (3,008) | | 7,285 | | (6,619) | |||
| Changes in investment in unconsolidated investees: | | | | | | | | | |
| Undistributed earnings | | 4,869 | | (9,610) | | (9,853) | |||
| Dividends received | | 3,116 | | — | | — | |||
| Net cash provided by operating activities | | $560,219 | | $464,257 | | $250,448 | |||
| | | | | | | | | | |
| Cash flows from investing activities: | | | | | | | | | |
| Purchase of: | | | | | | | | | |
| Fixed income securities, available-for-sale | | $(811,926) | | $(662,070) | | $(2,053,359) | |||
| Equity securities | | (97,922) | | (55,652) | | (45,007) | |||
| Property and equipment | | (4,710) | | (5,913) | | (5,889) | |||
| Equity method investee | | | — | | | — | | | (3,819) |
| Other | | (10,956) | | (10,786) | | (5,704) | |||
| Proceeds from sale of: | | | | | | | | | |
| Fixed income securities, available-for-sale | | 149,939 | | 50,135 | | 53,300 | |||
| Equity securities | | 64,839 | | 51,881 | | 62,212 | |||
| Equity method investee | | | — | | | 14,284 | | | 686,666 |
| Property and equipment | | 13 | | 27 | | 375 | |||
| Other | | 5,548 | | 817 | | 2,659 | |||
| Proceeds from call or maturity of: | | | | | | | | | |
| Fixed income, available-for-sale | | 326,297 | | 504,168 | | 1,393,674 | |||
| Net sale (purchase) of short-term investments | | | 60,008 | | | (98,694) | | | (36,229) |
| Net cash provided by (used in) investing activities | | $(318,870) | | $(211,803) | | $48,879 | |||
| | | | | | | | | | |
| Cash flows from financing activities: | | | | | | | | | |
| Proceeds from issuance of debt | | $73,000 | | $100,000 | | $— | |||
| Repayment of debt | | | (73,000) | | | (200,000) | | | — |
| Proceeds from stock option exercises | | (2,327) | | 1,245 | | (465) | |||
| Cash dividends paid | | (235,656) | | (140,093) | | (364,848) | |||
| Net cash used in financing activities | | $(237,983) | | $(238,848) | | $(365,313) | |||
| | | | | | | | | | |
| Net increase (decrease) in cash | | $3,366 | | $13,606 | | $(65,986) | |||
| Cash at beginning of year | | | 36,424 | | | 22,818 | | | 88,804 |
| Cash at end of year | | $39,790 | | $36,424 | | $22,818 | |||
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.