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Schedule II - Condensed Financial Information of Parent Company: Schedule of Condensed Cash Flow Statement - Parent Only (Tables) (Parent Company)
12 Months Ended
Dec. 31, 2013
Parent Company
 
Schedule of Condensed Cash Flow Statement - Parent Only

 

SCHEDULE II

(Continued)

 

AMERICAN INDEPENDENCE CORP.

CONDENSED STATEMENTS OF CASH FLOWS (In thousands)

(PARENT COMPANY ONLY)

 

 

 

YEAR ENDED

 

 

DECEMBER 31,

 

 

2013

 

 

2012

 

 

2011

 

 

 

 

 

 

 

 

 

CASH FLOWS FROM OPERATING ACTIVITIES:

 

 

 

 

 

 

 

 

Net income

$

4,418 

 

$

10,542 

 

$

3,184 

Adjustments to reconcile net income to net cash

 

 

 

 

 

 

 

 

provided from operating activities:

 

 

 

 

 

 

 

 

Deferred tax expense (benefit)

 

(661)

 

 

(3,965)

 

 

1,389 

Equity in net income of subsidiaries

 

(5,646)

 

 

(5,741)

 

 

(4,346)

Net realized investment (gains) losses

 

31 

 

 

(15)

 

 

(11)

Non-cash compensation expense

 

42 

 

 

33 

 

 

43 

Change in operating assets and liabilities:

 

 

 

 

 

 

 

 

Change in deferred tax asset

 

- 

 

 

(67)

 

 

(131)

Change in other assets and liabilities

 

(6)

 

 

(310)

 

 

(893)

 

 

 

 

 

 

 

 

 

Net cash provided by (used by) operating activities

 

(1,822)

 

 

477 

 

 

(765)

 

 

 

 

 

 

 

 

 

CASH FLOWS FROM INVESTING ACTIVITIES:

 

 

 

 

 

 

 

 

Decrease (increase) in investments in and advances to

 

 

 

 

 

 

 

 

consolidated subsidiaries

 

2,627 

 

 

(1,107)

 

 

1,958 

IPA Family acquisition of non-controlling interest

 

- 

 

 

- 

 

 

(525)

Change in loan receivable

 

(1,300)

 

 

(175)

 

 

(750)

Purchases of fixed maturities

 

(1,746)

 

 

(2,154)

 

 

- 

Sales of fixed maturities

 

1,715 

 

 

5,669 

 

 

1,201 

 

 

 

 

 

 

 

 

 

Net cash provided by investing activities

 

1,296 

 

 

2,233 

 

 

1,884 

 

 

 

 

 

 

 

 

 

CASH FLOWS FROM FINANCING ACTIVITIES:

 

 

 

 

 

 

 

 

Proceeds from exercise of stock options

 

- 

 

 

- 

 

 

57 

Repurchase of common stock

 

(1,198)

 

 

- 

 

 

(1,310)

 

 

 

 

 

 

 

 

 

Net cash used by financing activities

 

(1,198)

 

 

- 

 

 

(1,253)

 

 

 

 

 

 

 

 

 

Increase (decrease) in cash and cash equivalents

 

(1,724)

 

 

2,710 

 

 

(134)

Cash and cash equivalents, beginning of period

 

3,170 

 

 

460 

 

 

594 

Cash and cash equivalents, end of period

$

1,446 

 

$

3,170 

 

$

460 

 

 

 

 

 

 

 

 

 

SUPPLEMENTAL CASH FLOW INFORMATION:

 

 

 

 

 

 

 

 

Cash paid during the period for:

 

 

 

 

 

 

 

 

Income taxes

$

32 

 

$

5 

 

$

7