XML 39 R24.htm IDEA: XBRL DOCUMENT v3.8.0.1
Supplementary Data on Cash Flows
 12 Months Ended
Dec. 31, 2017
Supplemental Cash Flow Information [Abstract]  
Supplementary Data on Cash Flows
Note 16.  Supplementary Data on Cash Flows

A reconciliation of net income to net cash provided by operating activities as presented in the Statements of Cash Flows is as follows for the years ended December 31:
(in thousands)
 
 
 
 
2017
 
2016
 
2015
Cash flows from operating activities:
 
 
 
 
 
 
Net income
 
$
196,999

 
$
210,366

 
$
174,678

Adjustments to reconcile net income to net cash provided by operating activities:
 
 
 
 
 
 
Depreciation and amortization
 
14,929

 
15,154

 
16,461

Deferred income tax expense (benefit)
 
26,912

 
(2
)
 
(14,584
)
Other income tax expense (1)
 
10,095

 
—

 
—

Realized (gains) losses and impairments on investments
 
(1,152
)
 
(256
)
 
1,066

Equity in earnings of limited partnerships
 
(2,801
)
 
(7,025
)
 
(16,983
)
Net amortization of bond premium
 
7,038

 
7,436

 
8,160

Decrease in deferred compensation
 
(2,681
)
 
(4,561
)
 
(1,526
)
Limited partnership distributions
 
5,128

 
17,837

 
14,112

Increase in receivables from affiliates
 
(39,788
)
 
(30,485
)
 
(12,835
)
(Increase) decrease in accrued investment income
 
(516
)
 
(846
)
 
47

(Increase) decrease in federal income taxes recoverable
 
(24,640
)
 
6,687

 
(499
)
(Increase) decrease in prepaid pension
 
(27,265
)
 
10,524

 
20,307

(Increase) decrease in prepaid expenses and other assets
 
(7,636
)
 
(4,674
)
 
1,193

Increase in accounts payable and accrued expenses
 
17,183

 
11,144

 
3,633

Increase in commissions payable
 
17,565

 
15,017

 
5,624

Increase in accrued agent bonuses
 
7,756

 
8,020

 
18,524

Net cash provided by operating activities
 
$
197,126

 
$
254,336

 
$
217,378


(1)
Due to the enactment of the TCJA on December 22, 2017, income tax expense increased by $10.1 million, which included an increase of $19.9 million related to the re-measurement of our net deferred tax asset partially offset by a deferred tax benefit of $9.8 million primarily related to the acceleration of pension contributions.