| Cash Flow for Northbridge Financial Corp. (NB:CA) | | | | | | | Cash Flow | in Thousands of Dollars | | | 12/2007 | 12/2006 | 12/2005 | 12/2004 | 12/2003 | | | Net Income | 295,054 | 167,067 | 198,415 | 162,224 | 152,957 | | Provision for Loan Loss | - | - | - | - | - | | Depreciation & Amortization | 7,126 | 4,616 | 2,836 | 3,389 | 7,471 | | Deferred Income Taxes | (10,159) | 9,393 | (20,144) | (12,122) | (4,200) | | Change in Assets (Receivables) | 249,793 | 95,694 | (219,734) | (141,944) | (85,161) | | Change in Liabilities (Payables) | (177,279) | 89,979 | 607,776 | 391,353 | (29,024) | | Investment Securities Gain | - | (130,611) | (121,954) | - | - | | Net Policy Acquisition Cost | 1,959 | (714) | (10,659) | 1,354 | - | | Realized Investment Gains | (203,172) | - | (4,379) | (29,511) | (94,925) | | Net Premiums Receivables | - | - | - | - | - | | Change in Income Taxes | 43,054 | (15,297) | (9,224) | (47,441) | 30,806 | | Other Non-Cash Items | (3,781) | (5,296) | (2,828) | (166) | 256,353 | | Net Cash from Operating Activities | 202,595 | 214,831 | 420,105 | 327,136 | 234,277 | | | | Proceeds from Sale/Mat. Inv. | 551,470 | 1,149,883 | 1,089,544 | 741,610 | 992,877 | | Purchase of Investment Securities | (959,284) | (1,151,958) | (1,287,150) | (886,659) | (1,045,653) | | Net Increase Fed. Funds Sold | - | - | - | - | - | | Purchase of Property & Equipment | (5,357) | (3,129) | (8,514) | (5,877) | (4,738) | | Acquisitions | - | - | - | - | - | | Other Investment Changes, Net | - | - | 9,007 | - | - | | Net Cash from Investing Activities | (413,171) | (5,204) | (197,113) | (150,926) | (57,514) | | | Net Change in Deposits | - | - | - | - | - | | Cash Dividends paid | (33,379) | (33,562) | (33,562) | (30,512) | (24,569) | | Repayment of Long Term Debt | - | - | - | (6,115) | (761) | | Change in Short Term Debt | - | - | - | - | - | | Issuance of Long term Debt | - | - | - | - | - | | Issuance of Preferred Stock | - | - | - | - | - | | Issuance of Common Stock | - | - | - | - | 47,711 | | Purchase of Treasury Stock | (40,560) | - | - | - | - | | Other Financing Activities | - | - | - | - | - | | Cash from Financing Activities | (73,939) | (33,562) | (33,562) | (36,627) | 22,381 | | | | Effect of Exchange Rate Changes | (16,965) | (3,871) | 5,683 | 221 | 98 | | Net Change in Cash & Equivalents | (301,480) | 172,194 | 195,113 | 139,804 | 199,242 | | | Cash at Beginning of Period | 934,020 | 761,826 | 566,713 | 426,909 | 227,667 | | Cash at End of Period | 632,540 | 934,020 | 761,826 | 566,713 | 426,909 | | | |
