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Condensed Financial Information of Parent Company Only Disclosure: Condensed Cash Flow Statement (Tables)
 12 Months Ended
Dec. 31, 2019
Parent Company  
Condensed Cash Flow Statement

SCHEDULE II

(Continued)

 

INDEPENDENCE HOLDING COMPANY

CONDENSED STATEMENTS OF CASH FLOWS (In thousands)

(PARENT COMPANY ONLY)

 

 

 

2019

 

 

2018

 

 

 

 

CASH FLOWS PROVIDED BY (USED BY)

 

 

 

 

 

    OPERATING ACTIVITIES:

 

 

 

 

 

Net income

$

12,689  

 

$

29,053  

Adjustments to net income:

 

 

 

 

 

  Equity in net income of subsidiaries

 

(19,061) 

 

 

(32,459) 

  Other

 

3,247  

 

 

2,465  

Change in current income tax liability(A)

 

(17,793) 

 

 

3,221  

Changes in other assets and liabilities

 

(48) 

 

 

(660) 

 

 

 

 

 

 

Net change in cash from operating activities

 

(20,966) 

 

 

1,620  

 

 

 

 

 

 

CASH FLOWS PROVIDED BY (USED BY)

 

 

 

 

 

    INVESTING ACTIVITIES:

 

 

 

 

 

Change in investments in and advances to subsidiaries (B)

 

34,544  

 

 

17,779  

Net purchases of securities under agreements to resell

 

(39,438) 

 

 

-  

Purchases of fixed maturities

 

(1,154) 

 

 

(16,000) 

Sales of fixed maturities

 

8,432  

 

 

4,469  

Maturities and other repayments of fixed maturities

 

28,193  

 

 

429  

 

 

 

 

 

 

Net change in cash  from investing activities

 

30,577  

 

 

6,677  

 

 

 

 

 

 

CASH FLOWS PROVIDED BY (USED BY)

 

 

 

 

 

    FINANCING ACTIVITIES:

 

 

 

 

 

Repurchases of common stock

 

(4,057) 

 

 

(4,140) 

Dividends paid

 

(5,231) 

 

 

(3,712) 

Proceeds from stock options exercised

 

269  

 

 

856  

Payments related to tax withholdings for share-based compensation

 

(2,397) 

 

 

(905) 

 

 

 

 

 

 

Net change in cash from financing activities

 

(11,416) 

 

 

(7,901) 

 

 

 

 

 

 

Net change in cash and cash equivalents

 

(1,805) 

 

 

396  

Cash and cash equivalents, beginning of year(C)

 

2,700  

 

 

2,304  

 

 

 

 

 

 

Cash and cash equivalents, end of year(B)

$

895  

 

$

2,700  

 

 

 

 

 

 

 

(A)Includes net (payments) receipts for income taxes of $(17,086,000) and $5,778,000 to and from consolidated subsidiaries in accordance with tax sharing agreements during the years ended December 31, 2019 and 2018, respectively. 

(B)Includes $53,129,000 and $17,833,000 of cash dividends paid to parent company by consolidated subsidiaries for the years ended December 31, 2019 and 2018, respectively. 

(C)The parent company has no restricted cash at December 31, 2019 and 2018.