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Sch II - Condensed Financial Information on Registrant
 12 Months Ended
Dec. 31, 2019
Schedule II. Condensed Financial Information of Registrant [Abstract]  
Condensed Financial Information of Parent Company Only Disclosure [Text Block]
Schedule II - Condensed Financial Information of Registrant
FBL FINANCIAL GROUP, INC. (PARENT COMPANY)
Condensed Balance Sheets
(Dollars in thousands)

 
December 31,
 
2019
 
2018
Assets
 
 
 
Investments in subsidiaries (eliminated in consolidation)
$
1,537,121

 
$
1,233,663

Fixed maturities - available for sale, at fair value (amortized cost: 2019 - $18,420; 2018 - $21,420)
22,483

 
25,647

Equity securities (cost: 2019 - $6,587; 2018 - $5,304)
7,130

 
5,262

Short-term investments
5,077

 
5,607

Cash and cash equivalents
14,130

 
12,116

Amounts receivable from affiliates
2,382

 
935

Amounts receivable from subsidiaries (eliminated in consolidation)
3,777

 
3,719

Accrued investment income
13

 
18

Current income taxes recoverable
—

 
338

Deferred income tax assets
6,832

 
6,474

Other assets
27,926

 
13,257

Total assets
$
1,626,871

 
$
1,307,036

 
 
 
 
Liabilities and stockholders’ equity
 
 
 
Liabilities:
 
 
 
Accrued expenses and other liabilities
$
44,089

 
$
25,896

Amounts payable from subsidiaries (eliminated in consolidation)
—

 
1

Current income taxes
25

 
—

Long-term debt payable to non-affiliates
97,000

 
97,000

Total liabilities
141,114

 
122,897

 
 
 
 
Stockholders’ equity:
 
 
 
Preferred stock
3,000

 
3,000

Class A common stock
152,661

 
152,652

Class B common stock
72

 
72

Accumulated other comprehensive income
354,764

 
91,318

Retained earnings
975,260

 
937,097

Total stockholders’ equity
1,485,757

 
1,184,139

Total liabilities and stockholders’ equity
$
1,626,871

 
$
1,307,036


See accompanying notes to condensed financial statements.
Schedule II -Condensed Financial Information of Registrant (Continued)
FBL FINANCIAL GROUP, INC. (PARENT COMPANY)
Condensed Statements of Operations
(Dollars in thousands)

 
Year Ended December 31,
 
2019
 
2018
 
2017
Revenues:
 
 
 
 
 
Net investment income
$
1,970

 
$
2,381

 
$
1,972

Realized gains (losses) on investments
584

 
(591
)
 
—

Dividends from subsidiaries (eliminated in consolidation)
91,300

 
91,997

 
71,500

Management fee income from affiliates
2,000

 
2,001

 
2,001

Management fee income from subsidiaries (eliminated in consolidation)
6,265

 
6,458

 
5,805

Other income
8

 
2

 
2

Total revenues
102,127

 
102,248

 
81,280

Expenses:
 
 
 
 
 
Interest expense
4,850

 
4,850

 
4,850

General and administrative expenses
8,101

 
8,605

 
8,408

Total expenses
12,951

 
13,455

 
13,258

 
89,176

 
88,793

 
68,022

Income tax benefit (expense)
1,971

 
2,175

 
(2,321
)
Income before equity in undistributed income of subsidiaries
91,147

 
90,968

 
65,701

Equity in undistributed income of subsidiaries (eliminated in consolidation)
35,062

 
2,825

 
121,604

Net income
$
126,209

 
$
93,793

 
$
187,305


See accompanying notes to condensed financial statements.
Schedule II - Condensed Financial Information of Registrant (Continued)
FBL FINANCIAL GROUP, INC. (PARENT COMPANY)
Condensed Statements of Cash Flows
(Dollars in thousands)
 
 
Year ended December 31,
 
2019
 
2018
 
2017
Net cash provided by (used in) operating activities
$
(107
)
 
$
(2,102
)
 
$
417

 
 
 
 
 
 
Investing activities
 
 
 
 
 
Sales, maturities or redemptions of fixed maturities - available for sale
3,849

 
4,641

 
5,478

Acquisitions of equity securities - available for sale
(938
)
 
(1,147
)
 
(702
)
Short-term investments, net change
530

 
853

 
(472
)
Dividends from subsidiaries (eliminated in consolidation)
91,300

 
91,997

 
71,500

Net cash provided by investing activities
94,741

 
96,344

 
75,804

 
 
 
 
 
 
Financing activities
 
 
 
 
 
Issuance (repurchase) of common stock, net
(5,346
)
 
(15,152
)
 
330

Capital contribution to subsidiary
(2,800
)
 
(7,800
)
 
(2,000
)
Dividends paid
(84,474
)
 
(83,128
)
 
(81,400
)
Net cash used in financing activities
(92,620
)
 
(106,080
)
 
(83,070
)
Increase (decrease) in cash and cash equivalents
2,014

 
(11,838
)
 
(6,849
)
Cash and cash equivalents at beginning of year
12,116

 
23,954

 
30,803

Cash and cash equivalents at end of year
$
14,130

 
$
12,116

 
$
23,954

 
 
 
 
 
 
Supplemental disclosure of cash flow information
 
 
 
 
 
Cash received (paid) during the year for:
 
 
 
 
 
Income taxes
$
2,383

 
$
1,617

 
$
2,849

Interest
(4,850
)
 
(4,850
)
 
(4,850
)

See accompanying notes to condensed financial statements.
Schedule II - Condensed Financial Information of Registrant (Continued)
FBL FINANCIAL GROUP, INC. (PARENT COMPANY)
Notes to Condensed Financial Statements
December 31, 2019

1. Basis of Presentation

The accompanying condensed financial statements should be read in conjunction with the consolidated financial statements and notes thereto of FBL Financial Group, Inc.

In the parent company only financial statements, our investments in subsidiaries are stated at cost plus equity in undistributed earnings of subsidiaries since the date of acquisition. In addition, the carrying value includes net unrealized gains/losses on the subsidiaries’ investments classified as “available for sale.”

2. Dividends from Subsidiaries

The parent company received dividends in the form of cash totaling $91.3 million in 2019, $92.0 million in 2018 and $71.5 million in 2017.

3. Debt

See Note 6 to the consolidated financial statements included in Item 8 for a description of the parent company’s debt. The company’s debt matures in 2047.