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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 earnings $ 46,351 $ 73,894
Adjustments to reconcile net earnings to net cash from operating activities:    
Universal life and annuity contract interest 33,746 141,055
Surrender charges and other policy revenues (15,027) (16,975)
Realized (gains) losses on investments (6,610) (4,204)
Accretion/amortization of discounts and premiums, investments 1,237 1,362
Depreciation and amortization 5,776 5,464
Increase (decrease) in estimated credit losses on investments 2,654 0
(Increase) decrease in value of equity securities 3,990 (2,338)
(Increase) decrease in value of derivatives 66,385 (59,830)
(Increase) decrease in deferred policy acquisition and sales inducement costs, and value of business acquired 36,144 42,652
(Increase) decrease in accrued investment income 2,230 3,899
(Increase) decrease in other assets 8,119 (2,757)
Increase (decrease) in liabilities for future policy benefits 10,463 769
Increase (decrease) in other policyholder liabilities 8,263 (7,831)
Increase (decrease) in Federal income tax liability (2,290) 7,895
Increase (decrease) in deferred Federal income tax 13,357 (13,306)
Increase (decrease) in other liabilities (6,209) (5,862)
Net cash provided by operating activities 208,579 163,887
Proceeds from sales of:    
Debt securities available for sale 0 80,528
Other investments 9,733 34,984
Proceeds from maturities and redemptions of:    
Debt securities held to maturity 375,315 310,618
Debt securities available for sale 156,929 137,823
Derivatives, index options 67,729 21,405
Purchases of:    
Debt securities held to maturity (169,704) (103,710)
Debt securities available for sale (109,893) (77,118)
Equity securities (623) (295)
Derivatives, index options (39,676) (37,089)
Other investments (12,546) (11,953)
Property and equipment (275) (1,002)
Payment to acquire businesses, net of cash acquired 0 (189,121)
Principal payments on mortgage loans 3,971 22,252
Cost of mortgage loans acquired (10,359) (33,247)
Decrease (increase) in policy loans 3,197 2,697
Net cash provided by (used in) investing activities 273,798 156,772
Cash flows from financing activities:    
Deposits to account balances for universal life and annuity contracts 223,630 187,377
Return of account balances on universal life and annuity contracts (508,663) (499,801)
Borrowings under line of credit agreement 0 75,000
Principal payments on line of credit borrowings 0 (75,000)
Net cash provided by (used in) financing activities (285,033) (312,424)
Effect of foreign exchange (166) 591
Net increase (decrease) in cash, cash equivalents, and restricted cash 197,178 8,826
Cash, cash equivalents, and restricted cash at beginning of period 253,525 131,976
Cash, cash equivalents and restricted cash at end of period 450,703 140,802
Cash paid (received) during the period for:    
Interest 38 29
Income taxes 2 24,150
Noncash operating activities:    
Net deferral and amortization of sales inducements (6,651) (8,822)
Noncash investing and financing activities:    
Contingent consideration to acquire businesses $ 0 $ 3,700