XML 39 R7.htm IDEA: XBRL DOCUMENT v2.4.0.6
Condensed Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Cash flows from operating activities:    
Net earnings $ 42,987 $ 32,001
Adjustments to reconcile net earnings to net cash from operating activities:    
Universal life and annuity contract interest 127,547 145,381
Surrender charges and other policy revenues (7,009) (15,280)
Realized (gains) losses on investments (7,743) (3,582)
Accrual and amortization of investment income (1,400) (1,369)
Depreciation and amortization 1,113 390
(Increase) decrease in value of index options (9,959) (22,750)
Decrease (increase) in deferred policy acquisition and sales inducement costs 3,664 (26,674)
Increase in accrued investment income (2,301) (5,967)
Increase in other assets (2,232) (2,756)
Increase in liabilities for future policy benefits 3,602 7,775
(Decrease) increase in other policyholder liabilities 2,797 (5,774)
Decrease in Federal income taxes (12,757) (8,555)
(Decrease) increase in other liabilities 3,385 (2,390)
Other, net 128 0
Net cash provided by operating activities 141,822 90,450
Proceeds from sales of:    
Securities available for sale (367) 11,196
Other investments 3,492 3,348
Proceeds from maturities and redemptions of:    
Securities held to maturity 696,502 221,449
Securities available for sale 177,601 52,482
Index options 941 34,615
Purchases of:    
Securities held to maturity (785,820) (530,454)
Securities available for sale (271,552) (143,859)
Index options (26,153) (29,279)
Other investments (4,263) (7,779)
Principal payments on mortgage loans 38,154 8,961
Cost of mortgage loans acquired (8,403) (28,476)
Decrease (increase) in policy loans 598 2,705
Other, net 0 0
Net cash used in investing activities (179,270) (405,091)
Cash flows from financing activities:    
Deposits to account balances for universal life and annuity contracts 454,963 719,078
Return of account balances on universal life and annuity contracts (425,827) (405,185)
Issuance of common stock under stock option plan 0 1,217
Net cash provided by financing activities 29,136 315,110
Effect of foreign exchange 286 (134)
Net increase (decrease) in cash and short-term investments (8,026) 335
Cash and short-term investments at beginning of period 119,290 80,332
Cash and short-term investments at end of period 111,264 80,667
Cash paid during the period for:    
Interest 20 10
Income taxes 33,495 24,211
Noncash operating activities:    
Deferral of sales inducements $ 158 $ 5,225