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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash Flows from Operating Activities:    
Income (loss) attributable to Midwest Holding, Inc. $ 16,883 $ (9,656)
Adjustments to arrive at cash provided by operating activities:    
Net premium and discount on investments (6,982) (1,529)
Depreciation and amortization 229 38
Stock options (287) 2,765
Amortization of deferred acquisition costs 3,095 1,780
Deferred acquisition costs capitalized (18,285) (12,449)
Net realized loss on investments 14,676 2,704
Deferred gain on coinsurance transactions 6,875 9,601
Changes in operating assets and liabilities:    
Reinsurance recoverable 33,698 (6,659)
Interest and dividends due and accrued (10,292) (5,368)
Premiums receivable (10) (20)
Deposit-type liabilities (17,245)  
Policy liabilities 2,740 14,763
Receivable and payable for securities 22,100  
Other assets and liabilities 17,697 4,947
Net cash provided by operating activities 64,892 917
Fixed maturities available for sale:    
Purchases (692,348) (480,700)
Proceeds from sale or maturity 296,179 204,452
Mortgage loans on real estate, held for investment    
Purchases (75,985) (97,075)
Proceeds from sale 58,033 25,749
Derivatives    
Purchases (22,981) (14,496)
Proceeds from sale 3,232 4,314
Purchases   (38,972)
Proceeds from sale 12,772  
Other invested assets    
Purchases (48,302) (58,437)
Proceeds from sale 3,334 34,965
Purchase of restricted common stock (1) (500)
Preferred stock (2,893) (3,128)
Net change in policy loans 66 (9)
Net purchases of property and equipment (1,830) (54)
Net cash (used in) investing activities (470,724) (423,891)
Cash Flows from Financing Activities:    
Net transfer to noncontrolling interest (6,906)  
Capital contribution   (121)
Receipts on deposit-type contracts 509,660 367,446
Withdrawals on deposit-type contracts (30,271) (14,543)
Net cash provided by financing activities 472,483 352,782
Net increase (decrease) in cash and cash equivalents 66,651 (70,192)
Cash and cash equivalents:    
Beginning 142,013 151,679
Ending 208,664 81,487
Supplementary information    
Cash paid for taxes $ 2,870 $ 3,711