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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Net income $ 286,080 $ 272,834
Adjustments to reconcile net income to cash provided by (used in) operating activities:    
Change in future policy benefits and other policy liabilities 399,193 206,624
Deferral of policy acquisition costs (377,610) (320,224)
Amortization of deferred policy acquisition costs 170,979 187,273
Change in income taxes (7,845) (8,216)
Realized investment (gains) losses 7,645 (4,200)
Accretion and amortization of investments 779 (503)
Depreciation and amortization 12,486 13,285
Change in reinsurance recoverables (69,774) (15,650)
Change in agent balances, due premiums and other receivables (53,815) (31,838)
Trading securities sold, matured, or called (acquired), net 29,582 51
Share-based compensation 15,737 15,069
Change in other operating assets and liabilities, net (9,484) 6,826
Net cash provided by (used in) operating activities 403,953 321,331
Available-for-sale investments sold, matured or called:    
Fixed-maturity securities — sold 62,925 33,472
Fixed-maturity securities — matured or called 335,053 305,349
Short-term investments — matured or called   8,250
Equity securities — sold 2,508 3,136
Available-for-sale investments acquired:    
Fixed-maturity securities (435,934) (444,160)
Equity securities — acquired (179) (818)
Purchases of property and equipment and other investing activities, net (22,450) (19,988)
Cash collateral received (returned) on loaned securities, net 20,160 (12,629)
Sales (purchases) of short-term investments using securities lending collateral, net (20,160) 12,629
Net cash provided by (used in) investing activities (58,077) (114,759)
Cash flows from financing activities:    
Dividends paid (48,496) (43,468)
Common stock repurchased (218,079) (181,069)
Tax withholdings on share-based compensation (5,666) (7,017)
Finance leases (209) (211)
Net cash provided by (used in) financing activities (272,450) (231,765)
Effect of foreign exchange rate changes on cash 575 801
Change in cash and cash equivalents 74,001 (24,392)
Cash and cash equivalents, beginning of period 256,876 262,138
Cash and cash equivalents, end of period $ 330,877 $ 237,746