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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities:    
Net income $ 173,979 $ 176,611
Adjustments to reconcile net income to cash provided by (used in) operating activities:    
Change in future policy benefits and other policy liabilities 255,528 142,843
Deferral of policy acquisition costs (239,733) (212,300)
Amortization of deferred policy acquisition costs 123,488 123,390
Change in income taxes 46,389 (4,649)
Realized investment (gains) losses 8,288 (3,914)
Accretion and amortization of investments 960 (416)
Depreciation and amortization 7,819 8,490
Change in reinsurance recoverables (63,487) (31,208)
Change in agent balances, due premiums and other receivables (40,553) (23,151)
Trading securities sold, matured, or called (acquired), net 20,716 (9,700)
Share-based compensation 13,518 13,000
Change in other operating assets and liabilities, net 9,513 6,089
Net cash provided by (used in) operating activities 316,425 185,085
Available-for-sale investments sold, matured or called:    
Fixed-maturity securities — sold 58,262 22,137
Fixed-maturity securities — matured or called 217,568 210,507
Short-term investments — matured or called   8,250
Equity securities — sold 257 3,136
Available-for-sale investments acquired:    
Fixed-maturity securities (253,849) (284,423)
Equity securities — acquired (132) (466)
Purchases of property and equipment and other investing activities, net (19,372) (15,903)
Cash collateral received (returned) on loaned securities, net 1,250 (8,695)
Sales (purchases) of short-term investments using securities lending collateral, net (1,250) 8,695
Net cash provided by (used in) investing activities 2,734 (56,762)
Cash flows from financing activities:    
Dividends paid (32,614) (29,145)
Common stock repurchased (176,576) (110,731)
Tax withholdings on share-based compensation (5,613) (6,677)
Finance leases (140) (140)
Net cash provided by (used in) financing activities (214,943) (146,693)
Effect of foreign exchange rate changes on cash (741) 1,207
Change in cash and cash equivalents 103,475 (17,163)
Cash and cash equivalents, beginning of period 256,876 262,138
Cash and cash equivalents, end of period $ 360,351 $ 244,975