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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Dec. 31, 2023
Cash flows from operating activities:          
Net income $ 1,171 $ 144,504 $ 139,074 $ 272,603  
Adjustments to reconcile net income to cash provided by (used in) operating activities:          
Change in future policy benefits and other policy liabilities     27,932 18,433  
Deferral of policy acquisition costs     (271,170) (254,668)  
Amortization of deferred policy acquisition costs 73,643 68,110 145,692 136,033  
Change in income taxes     (59,157) (33,790)  
Investment (gains) losses 99 328 (1,206) 4,936  
Accretion and amortization of investments     (1,863) (638)  
Depreciation and amortization     14,483 17,441  
Change in reinsurance recoverables     110,508 130,233  
Change in agent balances, due premiums and other receivables     (14,793) (15,140)  
Change in renewal commissions receivable     19,237 8,819  
Trading securities sold, matured, or called (acquired), net     15,160 (14,722)  
Share-based compensation     15,668 14,585  
Impairment of goodwill and other long-lived assets 253,607   253,607    
Gain on insurance proceeds received from acquisition representation and warranty policy (50,000)   (50,000)    
Change in other operating assets and liabilities, net     41,010 27,567  
Net cash provided by (used in) operating activities     384,182 311,692  
Available-for-sale investments sold, matured or called:          
Fixed-maturity securities — sold     1,382 15,734  
Fixed-maturity securities — matured or called     215,444 152,859  
Short-term investments — sold       28,799  
Short-term investments — matured or called     268 40,000  
Equity securities — sold       15  
Equity securities — matured or called     4,272    
Available-for-sale investments acquired:          
Fixed-maturity securities     (315,271) (193,283)  
Short-term investments       (19,767)  
Equity securities — acquired       (330)  
Purchases of property and equipment and other investing activities, net     (12,604) (10,234)  
Cash collateral received (returned) on loaned securities, net     (8,789) (23,295)  
Sales (purchases) of short-term investments using securities lending collateral, net     8,789 23,295  
Insurance Proceeds Received from Acquisition Representation and Warranty Policy     50,000    
Net cash provided by (used in) investing activities     (56,509) 13,793  
Cash flows from financing activities:          
Dividends paid     (52,091) (47,509)  
Common stock repurchased     (251,821) (196,037)  
Tax withholdings on share-based compensation     (7,491) (10,239)  
Finance leases     (130) (133)  
Net cash provided by (used in) financing activities     (311,533) (253,918)  
Effect of foreign exchange rate changes on cash     (1,996) 778  
Change in cash and cash equivalents     14,144 72,345  
Cash and cash equivalents, beginning of period     613,148 489,240 $ 489,240
Cash and cash equivalents, end of period $ 627,292 $ 561,585 $ 627,292 $ 561,585 $ 613,148