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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Cash Flows From Operating Activities    
Net income $ 22,427 $ 23,679
Adjustments to reconcile net income to net cash provided by operating activities    
Net accretion of bond premium 3,447 3,702
Depreciation and amortization 1,626 1,618
Stock-based compensation expense 977 553
Net realized investment gains (2,055) (887)
Net cash flows from trading investments (129) 510
Deferred income tax benefit 322 (1,519)
Changes in:    
Accrued investment income (1,689) (1,020)
Premiums receivable (26,245) (19,926)
Deferred policy acquisition costs (3,579) (6,333)
Reinsurance receivables 1,782 3,427
Prepaid reinsurance premiums (322) (295)
Other assets (1,240) (697)
Future policy benefits and losses, claims and loss settlement expenses 23,965 8,726
Unearned premiums 21,001 19,535
Accrued expenses and other liabilities (7,205) (20,919)
Income taxes payable 728 3,790
Deferred income taxes (548) (433)
Other, net 2,063 342
Total adjustments 12,899 (9,826)
Net cash provided by operating activities 35,326 13,853
Cash Flows From Investing Activities    
Proceeds from sale of available-for-sale investments 1,968 5,017
Proceeds from call and maturity of held-to-maturity investments 8 31
Proceeds from call and maturity of available-for-sale investments 142,629 172,825
Proceeds from short-term and other investments 789 3,450
Purchase of available-for-sale investments (124,338) (133,920)
Purchase of short-term and other investments 0 (1,560)
Net purchases and sales of property and equipment (569) (1,881)
Net cash provided by investing activities 20,487 43,962
Policyholders’ account balances    
Deposits to investment and universal life contracts 25,145 36,099
Withdrawals from investment and universal life contracts (41,954) (67,248)
Payment of cash dividends (5,553) (4,997)
Repurchase of common stock 0 (1,083)
Issuance of common stock 4,745 353
Tax impact from issuance of common stock (664) (193)
Net cash used in financing activities (18,281) (37,069)
Net Change in Cash and Cash Equivalents 37,532 20,746
Cash and Cash Equivalents at Beginning of Period 106,449 90,574
Cash and Cash Equivalents at End of Period $ 143,981 $ 111,320