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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash Flows From Operating Activities    
Net income $ 19,936 $ 22,427
Adjustments to reconcile net income to net cash provided by operating activities    
Net accretion of bond premium 3,901 3,447
Depreciation and amortization 1,165 1,626
Stock-based compensation expense 1,044 977
Net realized investment gains (3,954) (2,055)
Net cash flows from trading investments (610) (129)
Deferred income tax benefit (134) 322
Changes in:    
Accrued investment income (3,078) (1,689)
Premiums receivable (18,226) (26,245)
Deferred policy acquisition costs (2,238) (3,579)
Reinsurance receivables (644) 1,782
Prepaid reinsurance premiums (59) (322)
Income taxes receivable 4,631 0
Other assets (777) (1,240)
Future policy benefits and losses, claims and loss settlement expenses 26,590 23,965
Unearned premiums 23,232 21,001
Accrued expenses and other liabilities (12,472) (7,205)
Income taxes payable 0 728
Deferred income taxes 647 (548)
Other, net 253 2,063
Total adjustments 19,271 12,899
Net cash provided by operating activities 39,207 35,326
Cash Flows From Investing Activities    
Proceeds from sale of available-for-sale investments 5,059 1,968
Proceeds from call and maturity of held-to-maturity investments 3 8
Proceeds from call and maturity of available-for-sale investments 71,613 142,629
Proceeds from short-term and other investments 1,702 789
Purchase of available-for-sale investments (103,623) (124,338)
Purchase of short-term and other investments (1,590) 0
Net purchases and sales of property and equipment (1,392) (569)
Net cash (used in) provided by investing activities (28,228) 20,487
Policyholders’ account balances    
Deposits to investment and universal life contracts 20,630 25,145
Withdrawals from investment and universal life contracts (37,934) (41,954)
Payment of cash dividends (6,367) (5,553)
Repurchase of common stock (5,749) 0
Issuance of common stock 1,244 4,745
Tax impact from issuance of common stock 0 (664)
Net cash used in financing activities (28,176) (18,281)
Net Change in Cash and Cash Equivalents (17,197) 37,532
Cash and Cash Equivalents at Beginning of Period 110,853 106,449
Cash and Cash Equivalents at End of Period $ 93,656 $ 143,981