SEC Schedule II, Article 12-04, Condensed Financial Information of Registrant

12 Months Ended

Dec. 31, 2011

SEC Schedule, Article 12-04, Condensed Financial Information of Registrant

Condensed Financial Information of Parent Company Only Disclosure [Text Block]

SCHEDULE II

AMERICAN INDEPENDENCE CORP.

BALANCE SHEETS

(PARENT COMPANY ONLY)

(In thousands, except share data)

		As of December 31,
		2011		2010
ASSETS:
	Cash and cash equivalents	$	460	$	594
	Fixed maturities available-for-sale, at fair value	3,556		4,756
	Investments in continuing consolidated subsidiaries	80,010		77,151
	Other receivables	1,025		3
	Other assets	502		506
	Deferred tax asset		8,992		10,250
	TOTAL ASSETS	$	94,545	$	93,260
LIABILITIES AND STOCKHOLDERS' EQUITY
LIABILITIES:
	Accounts payable and other liabilities	$	556	$	1,200
	TOTAL LIABILITIES		556		1,200
STOCKHOLDERS' EQUITY
	Preferred stock (none issued)		-		-
	Common stock, 9,181,793 shares
	issued, respectively; 8,272,332 shares and 8,508,591
	outstanding, respectively		92		92
	Paid-in capital		479,418		479,910
	Accumulated other comprehensive loss:
	Unrealized gain on investments, net		1,278		103
	Treasury stock, at cost, 909,461 shares and 673,202, respectively		(9,107)		(7,976)
	Accumulated deficit		(377,692)		(380,069)
TOTAL STOCKHOLDERS' EQUITY			93,989		92,060
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY		$	94,545	$	93,260

The financial information of American Independence Corp. (Parent Company Only) should be read in conjunction with the Consolidated Financial Statements and Notes thereto.

SCHEDULE II

(Continued)

AMERICAN INDEPENDENCE CORP.

STATEMENTS OF OPERATIONS

(PARENT COMPANY ONLY)

(In thousands)

			YEAR ENDED
			DECEMBER 31,
			2011		2010		2009
REVENUES:
	Net investment income	$	45	$	16	$	1
	Net realized investment gains (losses)		11		(1,266)		-
	Other income		-		-		1
			56		(1,250)		2
EXPENSES:
	General and administrative expenses and other		1,838		1,589		1,438
			1,838		1,589		1,438
Loss before income tax expense			(1,782)		(2,839)		(1,436)
Income tax benefit			(620)		(989)		(495)
Loss before equity in net income of subsidiaries			(1,162)		(1,850)		(941)
Equity in net income of subsidiaries, net of tax			4,346		4,832		4,107
Net income			3,184		2,982		3,166
	Less: Net income attributable to the non-controlling interest		(690)		(883)		(554)
Net income attributable to American Independence Corp.		$	2,494	$	2,099	$	2,612

The financial information of American Independence Corp. (Parent Company Only) should be read in conjunction with the Consolidated Financial Statements and Notes thereto.

SCHEDULE II

(Continued)

AMERICAN INDEPENDENCE CORP.

STATEMENTS OF CASH FLOWS

(PARENT COMPANY ONLY)

(In thousands)

					YEAR ENDED
					DECEMBER 31,
					2011		2010		2009
CASH FLOWS FROM OPERATING ACTIVITIES:
	Net income			$	3,184	$	2,982	$	3,166
	Adjustments to reconcile net income
			to net cash provided from operating
			activities:
	Deferred tax expense				1,389		1,154		1,438
	Equity in net income of subsidiaries				(4,346)		(4,832)		(4,107)
	Net realized investment (gains) losses				(11)		1,266		-
	Non-cash compensation expense				43		74		99
Change in operating assets and liabilities:
	Change in deferred tax asset				(131)		(131)		(126)
	Change in other assets and liabilities				(893)		288		(290)
Net cash provided by (used by) operating activities of continuing
			operations		(765)		801		180
Net cash used by operating activities of discontinued operations					-		(93)		(260)
		Net cash provided by (used by) operating activities			(765)		708		(80)
CASH FLOWS FROM INVESTING ACTIVITIES:
	Decrease in investments in and advances to
			consolidated subsidiaries		1,958		3,023		496
	IPA acquisition of non-controlling interest				(525)		-		-
	Change in loan receivable				(750)		-		-
	Purchases of fixed maturities				-		(4,747)		-
	Sales of fixed maturities				1,201
			Net cash provided by (used by) investing activities		1,884		(1,724)		496
CASH FLOWS FROM FINANCING ACTIVITIES:
	Proceeds from exercise of stock options				57		45		-
	Repurchase of common stock				(1,310)		(60)		-
			Net cash used by financing activities		(1,253)		(15)		-
Increase (decrease) in cash and cash equivalents					(134)		(1,031)		416
Cash and cash equivalents, beginning of period					594		1,625		1,209
Cash and cash equivalents, end of period				$	460	$	594	$	1,625
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid during the period for:
	Income taxes			$	7	$	9	$	28