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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash flows - operating activities    
Premiums collected $ 392,715 $ 367,182
Policyholder benefits paid (274,256) (268,212)
Policy acquisition and other operating expenses paid (141,913) (138,612)
Federal income taxes paid (8,068) (15,094)
Investment income collected 185,546 175,541
Interest expense paid (5,738) (5,989)
Other 6,167 954
Net cash provided by operating activities 154,453 115,770
Fixed maturities    
Purchases (723,354) (834,114)
Sales 229,690 257,033
Maturities, paydowns, calls and redemptions 491,739 475,532
Purchase of other invested assets (53,716) (33,809)
Net cash provided by (used in) short-term and other investments (32,391) 7,925
Net cash (used in) investing activities (88,032) (127,433)
Cash flows - financing activities    
Dividends paid to shareholders (23,041) (22,174)
Acquisition of treasury stock 0 (21,513)
Proceeds from exercise of stock options 3,130 1,926
Withholding tax payments on RSUs tendered (2,604) (3,233)
Annuity contracts: variable, fixed and FHLB funding agreements    
Deposits 234,133 237,265
Benefits, withdrawals and net transfers to Separate Account (variable annuity) assets (200,845) (162,575)
Transfer of Company 401(k) assets to a third-party provider (77,898) 0
Life policy accounts    
Deposits 2,240 1,680
Withdrawals and surrenders (2,287) (1,995)
Change in bank overdrafts 87 17,205
Net cash (used in) provided by financing activities (67,085) 46,586
Net (decrease) increase in cash (664) 34,923
Cash at beginning of period 16,670 15,509
Cash at end of period $ 16,006 $ 50,432