• Filing Date: 2017-02-22
  • Form Type: 10-K
  • Description: Annual report
v3.6.0.2
Condensed Financial Information of HCI Group, Inc. - Statements of Cash Flows (Detail) - USD ($)
3 Months Ended 12 Months Ended
Dec. 31, 2016
Sep. 30, 2016
Jun. 30, 2016
Mar. 31, 2016
Dec. 31, 2015
Sep. 30, 2015
Jun. 30, 2015
Mar. 31, 2015
Dec. 31, 2014
Sep. 30, 2014
Jun. 30, 2014
Mar. 31, 2014
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Cash flows from operating activities:                              
Net income $ 4,608,000 $ 11,333,000 $ 7,024,000 $ 6,056,000 $ 11,090,000 $ 7,371,000 $ 22,022,000 $ 25,378,000 $ 14,562,000 $ 14,052,000 $ 16,430,000 $ 17,620,000 $ 29,021,000 $ 65,861,000 $ 62,664,000
Adjustments to reconcile net income to net cash provided by (used in) operating activities:                              
Stock-based compensation                         4,198,000 5,212,000 8,110,000
Net realized investment gains                         (2,601,000) 608,000 (4,735,000)
Amortization of premiums on investments in fixed-maturity securities                         726,000 855,000 782,000
Depreciation and amortization                         5,408,000 5,251,000 4,958,000
(Income) loss from limited partnership investments                         (1,207,000) 3,244,000 90,000
Distributions from limited partnership interests                         544,000 12,000 0
Other-than-temporary impairment losses                         2,482,000 4,681,000 107,000
Gain on repurchases of convertible senior notes                         (153,000)    
Deferred income taxes                         155,000 (361,000) (4,742,000)
Changes in operating assets and liabilities:                              
Other assets                         29,054,000 (7,230,000) (20,086,000)
Accrued expenses and other liabilities                         (2,223,000) 4,157,000 10,011,000
Income taxes payable                         (1,192,000) 766,000 (3,167,000)
Net cash provided by operating activities                         87,975,000 45,282,000 88,729,000
Cash flows from investing activities:                              
Investment in limited partnership interest                         (4,670,000) (24,636,000) (2,640,000)
Purchase of fixed-maturity securities                         (85,530,000) (98,501,000) (83,365,000)
Purchase of equity securities                         (22,434,000) (32,878,000) (44,257,000)
Purchases of property and equipment                         (865,000) (840,000) (453,000)
Proceeds from sales of fixed-maturity securities                         40,454,000 53,711,000 98,365,000
Proceeds from calls, repayments and maturities of fixed-maturity securities                         4,692,000 9,344,000 4,603,000
Proceeds from sales of equity securities                         23,127,000 25,695,000 16,810,000
Net cash used in investing activities                         (49,028,000) (80,374,000) (18,652,000)
Cash flows from financing activities:                              
Repurchases of common stock                         (464,000) (792,000) (643,000)
Repurchases of common stock under share repurchase plan                         (20,026,000) (1,610,000) (38,354,000)
Cash dividends paid to stockholders                         (12,438,000) (12,428,000) (12,355,000)
Cash dividends received under share repurchase forward contract                         747,000 747,000 685,000
Proceeds from exercise of stock options                         150,000 263,000 125,000
Repurchases of convertible senior notes                         (11,347,000)    
Redemption of Series A preferred stock                             (34,000)
Debt issuance costs paid                         (339,000)   (234,000)
Tax benefits on stock-based compensation                         641,000 2,295,000 2,080,000
Net cash used in financing activities                         (26,157,000) (11,525,000) (48,730,000)
Net increase (decrease) in cash and cash equivalents                         12,793,000 (46,678,000) 21,318,000
Cash and cash equivalents at beginning of year       267,738,000       314,416,000       293,098,000 267,738,000 314,416,000 293,098,000
Cash and cash equivalents at end of year 280,531,000       267,738,000       314,416,000       280,531,000 267,738,000 314,416,000
HCI Group [Member]                              
Cash flows from operating activities:                              
Net income                         29,021,000 65,861,000 62,664,000
Adjustments to reconcile net income to net cash provided by (used in) operating activities:                              
Stock-based compensation                         2,878,000 4,341,000 5,502,000
Net realized investment gains                         (151,000) (108,000) (309,000)
Amortization of premiums on investments in fixed-maturity securities                           1,000  
Depreciation and amortization                         3,899,000 3,996,000 3,712,000
(Income) loss from limited partnership investments                         (523,000) 3,277,000 90,000
Distributions from limited partnership interests                         544,000 12,000  
Other-than-temporary impairment losses                         15,000 75,000  
Gain on repurchases of convertible senior notes                         (153,000)    
Equity in income of subsidiaries                         (38,154,000) (78,464,000) (73,232,000)
Deferred income taxes                         (1,542,000) (3,218,000) (2,058,000)
Changes in operating assets and liabilities:                              
Income taxes receivable                         (1,563,000) 2,596,000 (814,000)
Other assets                         (129,000) 228,000 629,000
Accrued expenses and other liabilities                         (716,000) 689,000 1,116,000
Income taxes payable                         (1,518,000) 1,279,000  
Due to related parties                         60,075,000 (14,831,000) 11,520,000
Net cash provided by operating activities                         51,983,000 (14,266,000) 8,820,000
Cash flows from investing activities:                              
Investment in limited partnership interest                         (2,710,000) (19,956,000) (2,640,000)
Purchase of fixed-maturity securities                         (371,000) (384,000) (2,616,000)
Purchase of equity securities                         (2,853,000) (3,196,000) (7,000,000)
Purchases of property and equipment                         (202,000) (371,000) (277,000)
Proceeds from sales of fixed-maturity securities                         423,000 259,000  
Proceeds from calls, repayments and maturities of fixed-maturity securities                         130,000    
Proceeds from sales of equity securities                         2,602,000 5,475,000 5,212,000
Dividends received from subsidiary                         19,000,000 92,700,000  
Investment in subsidiaries                         (25,250,000) (78,536,000) (8,402,000)
Net cash used in investing activities                         (9,231,000) (4,009,000) (15,723,000)
Cash flows from financing activities:                              
Repurchases of common stock                         (464,000) (792,000) (643,000)
Repurchases of common stock under share repurchase plan                         (20,026,000) (1,610,000) (38,354,000)
Cash dividends paid to stockholders                         (12,438,000) (12,428,000) (12,355,000)
Cash dividends received under share repurchase forward contract                         747,000 747,000 685,000
Proceeds from exercise of stock options                         150,000 263,000 125,000
Repurchases of convertible senior notes                         (11,347,000)    
Redemption of Series A preferred stock                             (34,000)
Debt issuance costs paid                             (234,000)
Tax benefits on stock-based compensation                         641,000 2,295,000 2,080,000
Net cash used in financing activities                         (42,737,000) (11,525,000) (48,730,000)
Net increase (decrease) in cash and cash equivalents                         15,000 (29,800,000) (55,633,000)
Cash and cash equivalents at beginning of year       $ 2,282,000       $ 32,082,000       $ 87,715,000 2,282,000 32,082,000 87,715,000
Cash and cash equivalents at end of year $ 2,297,000       $ 2,282,000       $ 32,082,000       $ 2,297,000 $ 2,282,000 $ 32,082,000