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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Cash flows from operating activities:      
Net income $ 190,455 $ 317,369 $ 128,742
Adjustments to reconcile net income to net cash provided by operating activities:      
Losses allocated to participating policyholders (1,267) (1,041) (804)
Amortization of premiums (accretion of discounts) on investments, net (12,213) (42,022) (20,751)
Net realized (gains) losses on investments (73,331) (64,323) (38,517)
Net proceeds (purchases) of trading securities (277,510) 11,478 23,677
Interest credited to contractholders 577,548 571,860 507,987
Depreciation and amortization 139,735 76,461 81,061
Deferral of acquisition costs (64,709) (110,843) (80,486)
Deferred income taxes 21,682 75,044 (24,087)
Amortization of low-income housing partnerships 4,563 21,713 31,918
Other, net (3,072) (4,984) 2,432
Changes in assets and liabilities:      
Policy benefit liabilities (273,507) (151,096) (49,980)
Reinsurance receivable 8,738 (18,054) 12,013
Investment income due and accrued (4,385) (8,951) (12,448)
Contingent consideration (17,600) 0 0
Other assets (13,101) (5,705) (106,923)
Other liabilities 22,050 (6,568) 78,829
Net cash provided by operating activities 224,076 660,338 532,663
Proceeds from sales, maturities, and redemptions of investments:      
Fixed maturities, available-for-sale 5,470,124 4,124,159 4,022,064
Mortgage loans on real estate 594,497 384,306 289,531
Limited partnership interests, other corporation interests, and other investments 6,833 7,555 22,200
Purchases of investments:      
Fixed maturities, available-for-sale (6,468,699) (5,174,996) (5,012,792)
Mortgage loans on real estate (448,924) (609,008) (562,940)
Limited partnership interests, other corporation interests, and other investments (1,527) (2,983) (3,706)
Net change in short-term investments (2,238) 22,096 (27,955)
Policy loans, net 98,143 (11,169) (4,370)
Acquisition payment 0 (28,356) 0
Purchases of furniture, equipment, and software (78,778) (35,537) (20,618)
Net cash used in investing activities (830,569) (1,323,933) (1,298,586)
Cash flows from financing activities:      
Contract deposits 2,527,039 2,709,043 2,601,820
Contract withdrawals (1,782,571) (1,757,936) (1,780,048)
Change in due to/from parent and affiliates (22,359) 49,337 (14,724)
Dividends paid (139,533) (316,401) (102,436)
Proceeds from issuance of common stock 60,803 0 0
Proceeds from financing element derivatives 0 5,516 51,832
Payments for and interest paid on financing element derivatives, net (9,383) (8,392) (9,756)
Net commercial paper borrowings (5,218) (401) 1,003
Change in book overdrafts (1,651) (12,052) 13,840
Income tax benefit of stock option exercises 953 165 496
Net cash provided by financing activities 628,080 668,879 762,027
Net increase (decrease) in cash 21,587 5,284 (3,896)
Cash, beginning of year 12,775 7,491 11,387
Cash, end of year 34,362 12,775 7,491
Net cash received (paid) during the year for:      
Income taxes (4,093) 46,453 (10,327)
Interest (37,288) (37,284) (37,329)
Non-cash investing and financing transactions during the years:      
Share-based compensation expense (1,655) (3,384) (2,578)
Contingent consideration (See Note 2) 0 (32,209) 0
Assets received from limited partnership investment distribution 0 0 (5,119)
Fixed maturity investments, available-for-sale acquired in reinsurance termination (See Note 4) 0 0 (44,104)
Policy loans acquired in reinsurance termination (See Note 4) 0 0 (6,468)
Fixed maturity investments, available-for-sale acquired in mortgage transfer (See Note 4) $ 0 $ 0 $ (28,959)