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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Cash flows from operating activities:      
Net income $ 231,092 $ 190,455 $ 317,369
Adjustments to reconcile net income to net cash provided by operating activities:      
Losses allocated to participating policyholders (1,024) (1,267) (1,041)
Amortization of premiums (accretion of discounts) on investments, net 2,209 (12,213) (42,022)
Net realized (gains) losses on investments (75,472) (73,331) (64,323)
Net proceeds (purchases) of trading securities 107,770 (277,510) 11,478
Interest credited to contractholders 606,790 577,548 571,860
Depreciation and amortization 74,987 139,735 76,461
Deferral of acquisition costs (93,621) (64,709) (110,843)
Deferred income taxes 53,481 21,682 75,044
Contingent consideration (209) (17,600) 0
Amortization of low-income housing partnerships 372 4,563 21,713
Other, net (1,366) (3,072) (4,984)
Changes in assets and liabilities:      
Policy benefit liabilities (231,952) (273,507) (151,096)
Reinsurance recoverable 10,340 8,738 (18,054)
Investment income due and accrued (4,392) (4,385) (8,951)
Other, net (23,705) 8,949 (12,273)
Net cash provided by operating activities 655,300 224,076 660,338
Proceeds from sales, maturities, and redemptions of investments:      
Fixed maturities, available-for-sale 6,229,209 5,470,124 4,124,159
Mortgage loans on real estate 389,663 594,497 384,306
Limited partnership interests, other corporation interests, and other investments 10,742 6,833 7,555
Purchases of investments:      
Fixed maturities, available-for-sale (7,840,166) (6,468,699) (5,174,996)
Mortgage loans on real estate (694,127) (448,924) (609,008)
Limited partnership interests, other corporation interests, and other investments (5,766) (1,527) (2,983)
Net change in short-term investments (39,677) (2,238) 22,096
Policy loans, net 5,527 98,143 (11,169)
Acquisition payment 0 0 (28,356)
Purchases of furniture, equipment, and software (44,644) (78,778) (35,537)
Net cash used in investing activities (1,989,239) (830,569) (1,323,933)
Cash flows from financing activities:      
Contract deposits 3,546,320 2,527,039 2,709,043
Contract withdrawals (2,098,286) (1,782,571) (1,757,936)
Change in due to/from parent and affiliates (21,719) (22,359) 49,337
Dividends paid (125,691) (139,533) (316,401)
Proceeds from issuance of common stock 19,750 60,803 0
Proceeds from financing element derivatives 0 0 5,516
Payments for and interest paid on financing element derivatives, net (6,744) (9,383) (8,392)
Payment of contingent consideration (14,400) 0 0
Net commercial paper borrowings 5,678 (5,218) (401)
Change in book overdrafts 12,713 (1,651) (12,052)
Income tax benefit of stock option exercises 277 953 165
Net cash provided by financing activities 1,317,898 628,080 668,879
Net (decrease) increase in cash (16,041) 21,587 5,284
Cash, beginning of year 34,362 12,775 7,491
Cash, end of year 18,321 34,362 12,775
Net cash (paid) received during the year for:      
Income taxes (1,543) (4,093) 46,453
Interest (31,254) (37,288) (37,284)
Non-cash investing and financing transactions during the years:      
Share-based compensation expense (2,190) (1,655) (3,384)
Contingent consideration $ 0 $ 0 $ (32,209)