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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Cash Flows From Operating Activities    
Net income $ 58,231 $ 24,341
Adjustments to reconcile net income to net cash provided by operating activities    
Net accretion of bond premium 10,534 10,985
Depreciation and amortization 7,706 5,449
Stock-based compensation expense 1,817 1,445
Net realized investment gains (2,622) (5,796)
Net cash flows from trading investments 2,663 (6,933)
Deferred income tax benefit (3,854) (2,639)
Changes in:    
Accrued investment income (304) 398
Premiums receivable (46,628) (39,945)
Deferred policy acquisition costs (16,884) (10,219)
Reinsurance receivables 12,395 3,384
Prepaid reinsurance premiums (266) (552)
Income taxes receivable (1,928) (3,173)
Other assets (1,561) 482
Future policy benefits and losses, claims and loss settlement expenses 60,932 70,994
Unearned premiums 50,097 49,974
Accrued expenses and other liabilities 811 (9,153)
Income taxes payable (5,012) 0
Deferred income taxes (499) (1,330)
Other, net (1,221) (368)
Total adjustments 66,176 63,003
Net cash provided by operating activities 124,407 87,344
Cash Flows From Investing Activities    
Proceeds from sale of available-for-sale investments 8,228 3,091
Proceeds from call and maturity of held-to-maturity investments 108 243
Proceeds from call and maturity of available-for-sale investments 527,365 390,967
Proceeds from short-term and other investments 4,221 2,370
Purchase of available-for-sale investments (502,086) (432,112)
Purchase of short-term and other investments (4,643) (2,803)
Net purchases and sales of property and equipment (10,763) (5,692)
Net cash provided by (used in) investing activities 22,430 (43,936)
Policyholders’ account balances    
Deposits to investment and universal life contracts 78,733 131,134
Withdrawals from investment and universal life contracts (175,840) (170,570)
Payment of cash dividends (16,024) (14,672)
Repurchase of common stock (2,423) (11,249)
Issuance of common stock 2,679 1,782
Tax impact from issuance of common stock (475) (94)
Net cash used in financing activities (113,350) (63,669)
Net Change in Cash and Cash Equivalents 33,487 (20,261)
Cash and Cash Equivalents at Beginning of Period 90,574 92,193
Cash and Cash Equivalents at End of Period $ 124,061 $ 71,932