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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Operating activities      
Net income $ 126,308 $ 93,822 $ 187,333
Adjustments to reconcile net income to net cash provided by operating activities:      
Interest credited to account balances 161,893 164,623 163,111
Charges for mortality, surrenders and administration (126,165) (120,944) (112,682)
Net realized losses on investments (7,604) 12,274 3,387
Change in fair value of derivatives (2,232) 7,162 (8,007)
Increase in liabilities for life insurance and other future policy benefits 66,503 77,786 87,489
Deferral of acquisition costs (45,578) (47,771) (44,409)
Amortization of deferred acquisition costs and value of insurance in force 25,875 36,371 25,016
Change in reinsurance recoverable (2,415) 4,081 (5,097)
Provision for deferred income taxes 6,876 (4,952) (73,094)
Other 9,593 16,725 16,587
Net cash provided by operating activities 213,054 239,177 239,634
Sales, maturities or repayments:      
Fixed maturities - available for sale 665,276 590,106 619,627
Equity securities 15,397 7,039 9,880
Mortgage loans 102,132 69,208 62,285
Derivative instruments 15,659 16,754 13,220
Policy loans 36,441 36,720 36,330
Securities and indebtedness of related parties 8,814 8,359 8,999
Other investments 6,147 6,831 164
Real estate 641 0 717
Acquisitions:      
Fixed maturities - available for sale (815,762) (705,250) (690,013)
Equity securities (16,729) (4,447) (2,692)
Mortgage loans (71,202) (139,836) (217,409)
Derivative instruments (19,886) (14,425) (9,311)
Policy loans (40,664) (42,688) (39,474)
Securities and indebtedness of related parties (21,084) (21,146) (13,555)
Other Investments (7,649) (7,891) 0
Short-term investments, net change 3,848 1,294 (659)
Purchases and disposals of property and equipment, net (15,990) (12,520) (11,427)
Net cash used in investing activities (154,611) (211,892) (233,318)
Financing activities      
Contract holder account deposits 606,917 668,482 534,449
Contract holder account withdrawals (577,238) (631,181) (440,581)
Dividends paid (84,474) (83,128) (81,401)
Proceeds from the issuance of short-term debt 55,000 27,000 0
Repayments of short-term debt (55,000) (27,000) 0
Issuance (repurchase) of common stock, net (5,346) (15,152) 356
Other financing activities (60) 33 (26)
Net cash provided by (used in) financing activities (60,201) (60,946) 12,797
Increase (decrease) in cash and cash equivalents (1,758) (33,661) 19,113
Cash and cash equivalents at beginning of year 19,035 52,696 33,583
Cash and cash equivalents at end of year 17,277 19,035 52,696
Supplemental disclosures of cash flow information      
Cash paid during the period for interest (4,860) (4,868) (4,850)
Cash paid during the period for income taxes $ (2,736) $ (3,005) $ (16,347)