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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Cash flows - operating activities    
Premiums collected $ 598,443 $ 598,882
Policyholder benefits paid (419,736) (410,241)
Policy acquisition and other operating expenses paid (218,464) (208,248)
Income taxes paid (8,719) (10,061)
Investment income collected 277,178 271,717
Interest expense paid (6,537) (5,821)
Other (4,691) 975
Net cash provided by operating activities 217,474 237,203
Fixed maturity securities    
Purchases (1,044,002) (1,041,744)
Sales 360,246 315,531
Maturities, paydowns, calls and redemptions 577,425 691,169
Equity securities    
Purchases (8,578) (27,219)
Sales and repayments 8,493 21,710
Limited partnership interests    
Purchases (84,444) (87,613)
Sales 11,754 15,097
Change in short-term and other investments, net (4,700) (74,365)
Net cash used in investing activities (183,806) (187,434)
Cash flows - financing activities    
Dividends paid to shareholders (35,016) (34,580)
Acquisition of treasury stock (86) (1,660)
Proceeds from exercise of stock options 3,191 3,815
Withholding tax payments on RSUs tendered (2,190) (2,745)
Annuity contracts: variable, fixed and FHLB funding agreements    
Deposits 326,003 348,900
Benefits, withdrawals and net transfers to Separate Account (variable annuity) assets (333,473) (295,064)
Transfer of Company 401(k) assets to a third-party provider 0 (77,898)
Life policy accounts    
Deposits 5,618 3,357
Withdrawals and surrenders (3,766) (3,340)
Change in bank overdrafts 4,855 (532)
Net cash used in financing activities (34,864) (59,747)
Net decrease in cash (1,196) (9,978)
Cash at beginning of period 7,627 16,670
Cash at end of period $ 6,431 $ 6,692