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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Cash flows - operating activities      
Premiums collected $ 739,503 $ 710,646 $ 723,705
Policyholder benefits paid (528,501) (511,017) (534,359)
Policy acquisition and other operating expenses paid (283,351) (277,076) (267,854)
Income taxes paid (16,259) (27,847) (24,861)
Investment income collected 363,283 344,778 330,034
Interest expense paid (11,555) (11,754) (13,521)
Other (6,534) (16,297) (5,430)
Net cash provided by operating activities 256,586 211,433 207,714
Fixed maturity securities      
Purchases (1,569,220) (1,566,047) (1,490,376)
Sales 500,760 429,251 445,100
Maturities, paydowns, calls and redemptions 927,665 799,653 683,335
Equity securities      
Purchases (32,312) (60,135) (33,922)
Sales and repayments 53,100 21,210 37,943
Purchase of other invested assets (117,502) (83,588) (38,018)
Net cash provided by (used in) short-term and other investments 8,845 134,296 (19,911)
Net cash used in investing activities (228,664) (325,360) (415,849)
Cash flows - financing activities      
Dividends paid to shareholders (46,114) (44,310) (42,523)
Proceeds from issuance of Senior Notes due 2025 0 0 246,937
Redemption of Senior Notes due 2016 0 0 (127,292)
Maturity of Senior Notes due 2015 0 0 (75,000)
Principal repayment on Bank Credit Facility 0 0 (38,000)
FHLB borrowings 50,000 0 0
Acquisition of treasury stock (1,660) (21,513) (21,950)
Proceeds from exercise of stock options 4,190 3,329 1,629
Withholding tax payments on RSUs tendered (3,245) (4,015) (671)
Annuity contracts: variable, fixed and FHLB funding agreements      
Deposits 453,146 520,211 623,021
Benefits, withdrawals and net transfers to Separate Account (variable annuity) assets (411,061) (349,915) (354,735)
Transfer of Company 401(k) to a third-party provider (77,898) 0 0
Life policy accounts      
Deposits 4,883 4,018 1,455
Withdrawals and surrenders (4,458) (3,965) (3,985)
Change in bank overdrafts (4,748) 11,248 3,083
Net cash provided by (used in) financing activities (36,965) 115,088 211,969
Net increase (decrease) in cash (9,043) 1,161 3,834
Cash at beginning of period 16,670 15,509 11,675
Cash at end of period $ 7,627 $ 16,670 $ 15,509