INDEPENDENCE HOLDING COMPANY CONSOLIDATED BALANCE SHEETS (USD $) In Thousands, unless otherwise specified	Dec. 31, 2011		Dec. 31, 2010
Investments:
Short-term investments	$ 50		$ 53
Securities purchased under agreements to resell	17,258		41,081
Fixed maturities, available-for-sale	842,873		793,656
Equity securities, available-for-sale	37,541		48,073
Other investments	35,223		36,864
Total investments	932,945		919,727
Cash and cash equivalents	18,227		11,426
Due from securities brokers	12,106		15,022
Deferred acquisition costs	37,101		43,465
Due and unpaid premiums	37,341		48,586
Due from reinsurers	159,729		154,243
Premium and claim funds	43,604		37,646
Notes and other receivables	15,500		16,766
Goodwill	50,318		51,713
Other assets	51,988		63,198
TOTAL ASSETS	1,358,859		1,361,792
LIABILITIES:
Insurance reserves-health	179,042		181,447
Insurance reserves-life and annuity	279,636		278,000
Funds on deposit	417,310		408,566
Unearned premiums	4,319		4,043
Policy claims-health	13,945		16,521
Policy claims-life	11,948		11,809
Other policyholders' funds	21,546		20,195
Due to securities brokers	383		32,469
Due to reinsurers	40,030		31,554
Accounts payable, accruals and other liabilities	66,410		70,497
Liabilities related to discontinued operations			771
Debt	10,000		7,500
Junior subordinated debt securities	38,146		38,146
TOTAL LIABILITIES	1,082,715		1,101,518
IHC STOCKHOLDERS' EQUITY:
Common Stock	16,775	[1],[2]	15,472	[1],[3]
Paid-in capital	111,814		101,003
Accumulated other comprehensive income (loss)	7,853		633
Treasury stock, at cost	(2,928)	[4]	(1,917)	[5]
Retained earnings	127,563		115,437
TOTAL IHC STOCKHOLDERS' EQUITY	261,077		230,628
NONCONTROLLING INTERESTS IN SUBSIDIARIES	15,067		29,646
TOTAL EQUITY	276,144		260,274
TOTAL LIABILITIES AND EQUITY	$ 1,358,859		$ 1,361,792

[1] $1.00 par value, 20,000,000 shares authorized.

[2] 16,774,540 shares issued, 16,412,488 shares outstanding.

[3] 15,472,020 shares issued, 15,232,865 shares outstanding.

[4] 362,052 treasury shares

[5] 239,155 treasury shares