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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities:    
Net loss $ (386) $ (704)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:    
Amortization of deferred acquisition costs 17,288 17,611
Acquisition costs deferred, net (19,055) (22,011)
Realized investment gains, net (1,574) (5,154)
Unrealized (gains) losses on equity securities, net (5,511) 2,194
Distributions received from equity method investees 379 10,777
Compensation expense related to share awards 353 244
Depreciation and amortization 996 987
Deferred income tax benefit (913) (2,236)
Increase in receivables, net (4,709) (10,221)
Increase in insurance reserves and policyholder funds 12,858 15,465
Increase (decrease) in accounts payable and accrued expenses 3,472 (2,226)
Other, net (5,005) (266)
Net cash (used in) provided by operating activities (1,807) 4,460
Cash flows from investing activities:    
Proceeds from investments sold 120,950 30,140
Proceeds from investments matured, called or redeemed 6,157 4,906
Investments purchased (124,029) (49,552)
Additions to property and equipment (69) (281)
Net cash provided by (used in) investing activities 3,009 (14,787)
Cash flows from financing activities:    
Payment of dividends on Series D preferred stock (399) (399)
Payment of dividends on common stock (403) (407)
Proceeds from shares issued under stock plans 26 36
Treasury stock acquired - share repurchase authorization (71) (597)
Treasury stock acquired - net employee share-based compensation (92) (223)
Net cash used in financing activities (939) (1,590)
Net increase (decrease) in cash 263 (11,917)
Cash and cash equivalents at beginning of year 12,630 24,547
Cash and cash equivalents at end of year 12,893 12,630
SUPPLEMENTAL CASH FLOW INFORMATION:    
Cash paid for interest 2,155 1,996
Cash paid for income taxes $ 1,662 $ 2,107