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Schedule II - Condensed Financial Information of Registrant
 12 Months Ended
Dec. 31, 2019
Condensed Financial Information Disclosure [Abstract]  
Schedule II - Condensed Financial Information of Registrant
AMERICAN NATIONAL INSURANCE COMPANY (Parent Company Only)
SCHEDULE II - CONDENSED FINANCIAL INFORMATION OF REGISTRANT
STATEMENTS OF FINANCIAL POSITION
(In thousands)
 
 
December 31,
 
 
2019
 
2018
ASSETS
 
 
 
 
Fixed maturity securities
 
$
10,024,143

 
$
9,660,562

Equity securities
 
8,998

 
6,252

Mortgage loans on real estate, net of allowance
 
4,667,425

 
4,772,085

Other invested assets
 
1,305,533

 
1,487,383

Investment in subsidiaries
 
3,855,531

 
3,121,901

Deferred policy acquisition costs
 
1,159,812

 
1,224,752

Prepaid pension
 
78,990

 
57,117

Other assets
 
903,583

 
763,458

Separate account assets
 
1,073,891

 
918,369

Total assets
 
$
23,077,906

 
$
22,011,879

LIABILITIES
 
 
 
 
Policy liabilities
 
$
4,418,128

 
$
4,373,398

Policyholders’ account balances
 
11,076,418

 
10,943,189

Other liabilities
 
519,720

 
519,675

Separate account liabilities
 
1,073,891

 
918,369

Total liabilities
 
17,088,157

 
16,754,631

EQUITY
 
 
 
 
Common stock
 
30,832

 
30,832

Additional paid-in capital
 
21,011

 
20,694

Accumulated other comprehensive income (loss)
 
99,518

 
(99,738
)
Retained earnings
 
5,946,857

 
5,413,952

Treasury stock, at cost
 
(108,469
)
 
(108,492
)
Total equity
 
5,989,749

 
5,257,248

Total liabilities and equity
 
$
23,077,906

 
$
22,011,879

The condensed financial statements should be read in conjunction with the consolidated financial statements and notes therein.
See accompanying Report of Independent Registered Public Accounting Firm.

AMERICAN NATIONAL INSURANCE COMPANY (Parent Company Only)
SCHEDULE II - CONDENSED FINANCIAL INFORMATION OF REGISTRANT
STATEMENTS OF OPERATIONS
(In thousands)
 
 
Years ended December 31,
 
 
2019
 
2018
 
2017
PREMIUMS AND OTHER REVENUES
 
 
 
 
 
 
Premiums and other policy revenues
 
$
873,076

 
$
943,071

 
$
889,346

Net investment income
 
866,837

 
686,569

 
794,277

Net realized investment gains
 
5,600

 
2,053

 
21,052

Other-than-temporary impairments
 
(6,663
)
 
(1,243
)
 
(6,105
)
Net gains (losses) on equity securities
 
958

 
(208
)
 
—

Other income
 
28,037

 
19,028

 
17,558

Total premiums and other revenues
 
1,767,845

 
1,649,270

 
1,716,128

BENEFITS, LOSSES AND EXPENSES
 
 
 
 
 
 
Policyholder benefits
 
651,162

 
716,959

 
682,707

Other operating expenses
 
965,338

 
773,329

 
871,935

Total benefits, losses and expenses
 
1,616,500

 
1,490,288

 
1,554,642

Income before federal income tax and other items
 
151,345

 
158,982

 
161,486

Provision (benefit) for federal income taxes
 
27,568

 
28,308

 
(53,728
)
Equity in earnings of subsidiaries, net of tax
 
492,888

 
24,789

 
286,579

Other components of net periodic pension benefit (costs), net of tax
 
3,698

 
3,532

 
(8,142
)
Net income attributable to American National
 
$
620,363

 
$
158,995

 
$
493,651

The condensed financial statements should be read in conjunction with the consolidated financial statements and notes therein.
See accompanying Report of Independent Registered Public Accounting Firm.
AMERICAN NATIONAL INSURANCE COMPANY (Parent Company Only)
SCHEDULE II - CONDENSED FINANCIAL INFORMATION OF REGISTRANT
STATEMENTS OF CASH FLOWS
(In thousands)
 
 
Years ended December 31,
 
 
2019
 
2018
 
2017
OPERATING ACTIVITIES
 
 
 
 
 
 
Net income
 
$
620,363

 
$
158,995

 
$
493,651

Adjustments to reconcile net income to net cash provided by operating activities
 
 
 
 
 
 
Net realized investment gains
 
(5,600
)
 
(2,053
)
 
(21,052
)
Other-than-temporary impairments
 
6,663

 
1,243

 
6,105

Accretion of premiums, discounts and loan origination fees
 
(9,654
)
 
(11,236
)
 
(6,615
)
Net capitalized interest on policy loans and mortgage loans
 
(31,366
)
 
(36,784
)
 
(31,853
)
Depreciation
 
30,658

 
30,492

 
32,991

Interest credited to policyholders’ account balances
 
441,268

 
269,933

 
370,270

Charges to policyholders’ account balances
 
(291,160
)
 
(272,638
)
 
(236,336
)
Deferred federal income tax expense (benefit)
 
40,936

 
10,564

 
(57,337
)
Equity in earnings of affiliates
 
(6,752
)
 
(8,323
)
 
(10,840
)
Net income of subsidiaries
 
(486,136
)
 
(16,466
)
 
(275,739
)
Distributions from equity method investments
 
22,012

 
5,319

 
—

Changes in
 
 
 
 
 
 
Policyholder liabilities
 
44,732

 
165,931

 
179,497

Deferred policy acquisition costs
 
(4,791
)
 
(61,881
)
 
(66,219
)
Reinsurance recoverables
 
18,826

 
(9,855
)
 
584

Premiums due and other receivables
 
4,333

 
(1,302
)
 
12,343

Prepaid reinsurance premiums
 
5,277

 
3,213

 
3,392

Accrued investment income
 
(3,535
)
 
2,306

 
(3,138
)
Current tax receivable/payable
 
(83,470
)
 
79,168

 
1,725

Liability for retirement benefits
 
(5,482
)
 
(64,824
)
 
(31,830
)
Fair value of option securities
 
(134,925
)
 
50,299

 
(86,259
)
Fair value of equity securities
 
(958
)
 
208

 
—

Other, net
 
(6,193
)
 
(17,943
)
 
20,437

Net cash provided by operating activities
 
165,046

 
274,366

 
293,777

INVESTING ACTIVITIES
 
 
 
 
 
 
Proceeds from sale/maturity/prepayment of
 
 
 
 
 
 
Held-to-maturity securities
 
706,230

 
514,393

 
730,143

Available-for-sale securities
 
366,696

 
296,545

 
315,030

Equity securities
 
—

 
—

 
5,635

Investment real estate
 
—

 
3,782

 
58,840

Mortgage loans
 
789,088

 
799,413

 
794,011

Policy loans
 
42,316

 
42,407

 
44,253

Other invested assets
 
112,340

 
110,415

 
76,521

Disposals of property and equipment
 
69

 
—

 
158

Distributions from affiliates and subsidiaries
 
27,891

 
17,795

 
20,038

Payment for the purchase/origination of
 
 
 
 
 
 
Held-to-maturity securities
 
(936,646
)
 
(971,396
)
 
(824,831
)
Available-for-sale securities
 
(326,476
)
 
(535,233
)
 
(345,677
)
Equity securities
 
(351
)
 
(1,485
)
 
(128
)
Investment real estate
 
(13,639
)
 
(23,790
)
 
(26,936
)
Mortgage loans
 
(668,563
)
 
(1,021,303
)
 
(1,117,320
)
Policy loans
 
(25,408
)
 
(23,014
)
 
(22,978
)
Other invested assets
 
(102,275
)
 
(67,914
)
 
(42,849
)
Additions to property and equipment
 
(11,163
)
 
(10,767
)
 
(20,441
)
Contributions to unconsolidated affiliates
 
(147,547
)
 
(95,091
)
 
(26,056
)
Change in short-term investments
 
138,021

 
360,837

 
(401,110
)
Change in investment in subsidiaries
 
35,069

 
100,000

 
—

Change in collateral held for derivatives
 
97,852

 
(63,069
)
 
84,325

Other, net
 
(92
)
 
191

 
15,751

Net cash provided by (used in) investing activities
 
83,412

 
(567,284
)
 
(683,621
)
FINANCING ACTIVITIES
 
 
 
 
 
 
Policyholders’ account deposits
 
1,375,003

 
1,513,478

 
1,732,494

Policyholders’ account withdrawals
 
(1,391,881
)
 
(1,243,641
)
 
(1,182,754
)
Dividends to stockholders
 
(88,243
)
 
(88,228
)
 
(88,335
)
Net cash provided by (used in) financing activities
 
(105,121
)
 
181,609

 
461,405

NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS
 
143,337

 
(111,309
)
 
71,561

Beginning of the year
 
151,592

 
262,901

 
191,340

End of the year
 
$
294,929

 
$
151,592

 
$
262,901

The condensed financial statements should be read in conjunction with the consolidated financial statements and notes therein.
See accompanying Report of Independent Registered Public Accounting Firm.