XML 37 R8.htm IDEA: XBRL DOCUMENT v3.6.0.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Cash provided from (used for) operating activities:      
Net income $ 549,779 $ 527,100 $ 542,939
Adjustments to reconcile net income from continuing operations to cash provided from continuing operations:      
(Income) from discontinued operations, net of income taxes (10,189) (10,807) (14,865)
Increase in future policy benefits 645,844 631,202 585,632
Increase (decrease) in other policy benefits 24,668 14,609 12,521
Deferral of policy acquisition costs (635,318) (612,181) (562,245)
Amortization of deferred policy acquisition costs 469,063 445,625 415,914
Change in current and deferred income taxes [1] 152,210 103,558 102,720
Realized (gains) losses on sale of investments and properties 10,683 8,791 (23,548)
Other, net 20,079 13,985 (38,354)
Net cash provided from (used for) continuing operations 1,226,819 1,121,882 1,020,714
Net cash provided from (used for) discontinued operations 171,889 (1,832) (156,006)
Cash provided from (used for) operating activities 1,398,708 1,120,050 864,708
Cash provided from (used for) investing activities:      
Fixed maturities available for sale—sold 340,434 226,792 109,024
Fixed maturities available for sale—matured, called, and repaid 236,353 376,158 273,223
Other long-term investments 1,217 3,740 1,495
Total investments sold or matured 578,004 606,690 383,742
Acquisition of investments:      
Fixed maturities—available for sale (1,530,053) (1,070,908) (704,993)
Other long-term investments (20,444) (31,707) 0
Total investments acquired (1,550,497) (1,102,615) (704,993)
Net increase in policy loans (15,513) (20,353) (23,222)
Net (increase) decrease in short-term investments (17,274) (38,884) 61,008
Additions to properties (25,162) (36,957) (19,367)
Sales of properties 90 0 8,752
Investments in low-income housing interests (32,084) (41,231) (56,083)
Cash provided from (used for) investing activities (1,062,436) (633,350) (350,163)
Cash provided from (used for) financing activities:      
Issuance of common stock 61,329 35,958 56,294
Cash dividends paid to shareholders (66,931) (66,899) (65,006)
Repayment of debt (250,000) 0 0
Proceeds from issuance of debt 400,000 0 0
Payment for debt issuance costs (9,638) 0 0
Net borrowing (repayment) of commercial paper 22,224 1,978 9,328
Excess tax benefit from stock option exercises [1] 0 17,577 18,524
Acquisition of treasury stock (404,784) (418,526) (449,308)
Net receipts (payments) from deposit-type product (71,991) (95,793) (69,792)
Cash provided from (used for) financing activities (319,791) (525,705) (499,960)
Effect of foreign exchange rate changes on cash (1,701) 34,369 14,491
Increase (decrease) in cash 14,780 (4,636) 29,076
Cash at beginning of year 61,383 66,019 36,943
Cash at end of year $ 76,163 $ 61,383 $ 66,019
[1] Certain current year amounts were prospectively adjusted to give effect to the adoption of ASU 2016-09 related to excess tax benefits from stock compensation as described in Note 1—Significant Accounting Policies under "Accounting Pronouncements Adopted in the Current Year."