• Filing Date: 2015-03-10
  • Form Type: 10-K
  • Description: Annual report
v2.4.1.9
Condensed Financial Information of HCI Group, Inc. - Statements of Cash Flows (Detail) (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Cash flows from operating activities:      
Net income $ 62,664us-gaap_NetIncomeLoss $ 65,562us-gaap_NetIncomeLoss $ 30,157us-gaap_NetIncomeLoss
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
Stock-based compensation 8,110us-gaap_ShareBasedCompensation 5,365us-gaap_ShareBasedCompensation 844us-gaap_ShareBasedCompensation
Net realized investment (gain) loss (4,735)us-gaap_GainLossOnSaleOfInvestments (80)us-gaap_GainLossOnSaleOfInvestments (276)us-gaap_GainLossOnSaleOfInvestments
Depreciation and amortization 4,958us-gaap_DepreciationAmortizationAndAccretionNet 2,103us-gaap_DepreciationAmortizationAndAccretionNet 1,591us-gaap_DepreciationAmortizationAndAccretionNet
Loss from limited partnership investment 90hci_GainsLossesOnLimitedPartnershipsInterest    
Deferred income taxes (4,742)us-gaap_DeferredIncomeTaxExpenseBenefit 557us-gaap_DeferredIncomeTaxExpenseBenefit (2,366)us-gaap_DeferredIncomeTaxExpenseBenefit
Changes in operating assets and liabilities:      
Other assets (19,845)us-gaap_IncreaseDecreaseInOtherOperatingAssets (9,728)us-gaap_IncreaseDecreaseInOtherOperatingAssets (803)us-gaap_IncreaseDecreaseInOtherOperatingAssets
Accrued expenses and other liabilities 9,770us-gaap_IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities 3,381us-gaap_IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities (258)us-gaap_IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
Income taxes payable (3,167)us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable (8,270)us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable 3,857us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable
Cash flows from investing activities:      
Investment in limited partnership interest (2,640)us-gaap_PaymentsToAcquireLimitedPartnershipInterests    
Purchase of fixed-maturity securities (83,365)us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesDebt (82,907)us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesDebt (10,128)us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesDebt
Purchase of equity securities (44,257)us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesEquity (11,308)us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesEquity (6,410)us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesEquity
Purchase of property and equipment (453)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (3,433)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (1,196)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
Proceeds from sales of equity securities 16,810us-gaap_ProceedsFromSaleOfAvailableForSaleSecuritiesEquity 2,809us-gaap_ProceedsFromSaleOfAvailableForSaleSecuritiesEquity 1,735us-gaap_ProceedsFromSaleOfAvailableForSaleSecuritiesEquity
Cash flows from financing activities:      
Net proceeds from the issuance of common stock     20,082us-gaap_ProceedsFromIssuanceOfCommonStock
Repurchases of common stock (643)us-gaap_PaymentsForRepurchaseOfCommonStock (30,886)us-gaap_PaymentsForRepurchaseOfCommonStock  
Repurchases of common stock under share repurchase plan (38,354)hci_PaymentsForRepurchaseOfCommonStockUnderShareRepurchasePlan    
Cash dividends paid to stockholders (12,355)us-gaap_PaymentsOfDividends (10,902)us-gaap_PaymentsOfDividends (8,561)us-gaap_PaymentsOfDividends
Cash dividends received under share repurchase forward contract 685hci_CashDividendsRepaid    
Proceeds from exercise of stock options 125us-gaap_ProceedsFromStockOptionsExercised   283us-gaap_ProceedsFromStockOptionsExercised
Proceeds from exercise of stock warrants     11,869us-gaap_ProceedsFromWarrantExercises
Proceeds from issuance of long-term debt   143,250us-gaap_ProceedsFromIssuanceOfLongTermDebt  
Redemption of Series A preferred stock (34)us-gaap_PaymentsForRepurchaseOfConvertiblePreferredStock    
Debt issuance costs paid (234)us-gaap_PaymentsOfDebtIssuanceCosts (4,770)us-gaap_PaymentsOfDebtIssuanceCosts (35)us-gaap_PaymentsOfDebtIssuanceCosts
Tax benefits on stock-based compensation 2,080us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities 1,060us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities 1,161us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
Net (decrease) increase in cash and cash equivalents 21,318us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease 63,184us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease 129,859us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Cash and cash equivalents at beginning of year 293,398us-gaap_CashAndCashEquivalentsAtCarryingValue 230,214us-gaap_CashAndCashEquivalentsAtCarryingValue 100,355us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash and cash equivalents at end of year 314,716us-gaap_CashAndCashEquivalentsAtCarryingValue 293,398us-gaap_CashAndCashEquivalentsAtCarryingValue 230,214us-gaap_CashAndCashEquivalentsAtCarryingValue
HCI Group [Member]      
Cash flows from operating activities:      
Net income 62,664us-gaap_NetIncomeLoss
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
65,562us-gaap_NetIncomeLoss
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
30,157us-gaap_NetIncomeLoss
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
Stock-based compensation 5,502us-gaap_ShareBasedCompensation
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
2,362us-gaap_ShareBasedCompensation
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
237us-gaap_ShareBasedCompensation
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
Net realized investment (gain) loss (309)us-gaap_GainLossOnSaleOfInvestments
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
2us-gaap_GainLossOnSaleOfInvestments
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
 
Depreciation and amortization 3,712us-gaap_DepreciationAmortizationAndAccretionNet
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
1,000us-gaap_DepreciationAmortizationAndAccretionNet
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
788us-gaap_DepreciationAmortizationAndAccretionNet
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
Loss from limited partnership investment 90hci_GainsLossesOnLimitedPartnershipsInterest
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
   
Equity in income of subsidiaries (73,232)us-gaap_EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
(70,225)us-gaap_EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
(32,067)us-gaap_EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
Deferred income taxes (2,058)us-gaap_DeferredIncomeTaxExpenseBenefit
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
(914)us-gaap_DeferredIncomeTaxExpenseBenefit
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
763us-gaap_DeferredIncomeTaxExpenseBenefit
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
Changes in operating assets and liabilities:      
Income taxes receivable (814)us-gaap_IncreaseDecreaseInIncomeTaxesReceivable
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
597us-gaap_IncreaseDecreaseInIncomeTaxesReceivable
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
(2,379)us-gaap_IncreaseDecreaseInIncomeTaxesReceivable
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
Other assets 629us-gaap_IncreaseDecreaseInOtherOperatingAssets
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
(1,001)us-gaap_IncreaseDecreaseInOtherOperatingAssets
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
84us-gaap_IncreaseDecreaseInOtherOperatingAssets
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
Accrued expenses and other liabilities 1,116us-gaap_IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
1,136us-gaap_IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
(1,051)us-gaap_IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
Income taxes payable     (1,605)us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
Due to related parties 11,520us-gaap_IncreaseDecreaseInDueToRelatedParties
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
(6,338)us-gaap_IncreaseDecreaseInDueToRelatedParties
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
5,314us-gaap_IncreaseDecreaseInDueToRelatedParties
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
Net cash provided by (used in) operating activities 8,820us-gaap_NetCashProvidedByUsedInOperatingActivities
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
(7,819)us-gaap_NetCashProvidedByUsedInOperatingActivities
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
241us-gaap_NetCashProvidedByUsedInOperatingActivities
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
Cash flows from investing activities:      
Investment in limited partnership interest (2,640)us-gaap_PaymentsToAcquireLimitedPartnershipInterests
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
   
Purchase of fixed-maturity securities (2,616)us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesDebt
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
(64)us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesDebt
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
 
Purchase of equity securities (7,000)us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesEquity
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
(6,835)us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesEquity
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
 
Purchase of property and equipment (277)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
(262)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
(668)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
Proceeds from sales of equity securities 5,212us-gaap_ProceedsFromSaleOfAvailableForSaleSecuritiesEquity
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
361us-gaap_ProceedsFromSaleOfAvailableForSaleSecuritiesEquity
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
 
Dividends received from subsidiary   4,000us-gaap_ProceedsFromDividendsReceived
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
6,000us-gaap_ProceedsFromDividendsReceived
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
Investment in subsidiaries (8,402)us-gaap_PaymentsToAcquireAdditionalInterestInSubsidiaries
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
(5,735)us-gaap_PaymentsToAcquireAdditionalInterestInSubsidiaries
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
(24,056)us-gaap_PaymentsToAcquireAdditionalInterestInSubsidiaries
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
Net cash used in investing activities (15,723)us-gaap_NetCashProvidedByUsedInInvestingActivities
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
(8,535)us-gaap_NetCashProvidedByUsedInInvestingActivities
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
(18,724)us-gaap_NetCashProvidedByUsedInInvestingActivities
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
Cash flows from financing activities:      
Net proceeds from the issuance of common stock     20,082us-gaap_ProceedsFromIssuanceOfCommonStock
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
Repurchases of common stock (643)us-gaap_PaymentsForRepurchaseOfCommonStock
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
(30,886)us-gaap_PaymentsForRepurchaseOfCommonStock
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
 
Repurchases of common stock under share repurchase plan (38,354)hci_PaymentsForRepurchaseOfCommonStockUnderShareRepurchasePlan
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
   
Cash dividends paid to stockholders (12,355)us-gaap_PaymentsOfDividends
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
(10,902)us-gaap_PaymentsOfDividends
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
(8,561)us-gaap_PaymentsOfDividends
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
Cash dividends received under share repurchase forward contract 685hci_CashDividendsRepaid
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
   
Proceeds from exercise of stock options 125us-gaap_ProceedsFromStockOptionsExercised
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
  283us-gaap_ProceedsFromStockOptionsExercised
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
Proceeds from exercise of stock warrants     11,869us-gaap_ProceedsFromWarrantExercises
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
Proceeds from issuance of long-term debt   143,250us-gaap_ProceedsFromIssuanceOfLongTermDebt
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
 
Redemption of Series A preferred stock (34)us-gaap_PaymentsForRepurchaseOfConvertiblePreferredStock
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
   
Debt issuance costs paid (234)us-gaap_PaymentsOfDebtIssuanceCosts
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
(4,770)us-gaap_PaymentsOfDebtIssuanceCosts
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
(35)us-gaap_PaymentsOfDebtIssuanceCosts
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
Tax benefits on stock-based compensation 2,080us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
1,060us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
1,161us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
Net cash (used in) provided by financing activities (48,730)us-gaap_NetCashProvidedByUsedInFinancingActivities
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
97,752us-gaap_NetCashProvidedByUsedInFinancingActivities
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
24,799us-gaap_NetCashProvidedByUsedInFinancingActivities
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
Net (decrease) increase in cash and cash equivalents (55,633)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
81,398us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
6,316us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
Cash and cash equivalents at beginning of year 87,715us-gaap_CashAndCashEquivalentsAtCarryingValue
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
6,317us-gaap_CashAndCashEquivalentsAtCarryingValue
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
1us-gaap_CashAndCashEquivalentsAtCarryingValue
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
Cash and cash equivalents at end of year $ 32,082us-gaap_CashAndCashEquivalentsAtCarryingValue
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
$ 87,715us-gaap_CashAndCashEquivalentsAtCarryingValue
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
$ 6,317us-gaap_CashAndCashEquivalentsAtCarryingValue
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember