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Schedule II. Condensed Financial Statements of Parent Company
 12 Months Ended
Dec. 31, 2020
Condensed Financial Information Disclosure [Abstract]  
Schedule II. Condensed Financial Statements of Parent Company
Schedule II. Condensed Financial Statements of Parent Company

United Fire Group, Inc. (parent company only)
Condensed Balance Sheets
December 31,
(In thousands, except share data)20202019
Assets
Fixed maturities
Available-for-sale, at fair value (amortized cost $150 in 2020 and $150 in 2019)
$150 $150 
Investment in subsidiary818,581 880,485 
Cash and cash equivalents6,504 29,878 
Other assets15 3 
Total assets$825,250 $910,516 
Liabilities and stockholders' equity
Liabilities$101 $44 
Stockholders' equity
Common stock, $0.001 par value, authorized 75,000,000 shares 25,055,479 and 25,015,963 issued and outstanding in 2020 and 2019, respectively
$25 $25 
Additional paid-in capital202,359 200,179 
Retained earnings555,854 697,116 
Accumulated other comprehensive income, net of tax66,911 13,152 
Total stockholders' equity$825,149 $910,472 
Total liabilities and stockholders' equity$825,250 $910,516 

This condensed financial information should be read in conjunction with the Consolidated Financial Statements and Notes included in Part II, Item 8 of this Annual Report on Form 10-K.
Schedule II. Condensed Financial Statements of Parent Company (continued)

United Fire Group, Inc. (parent company only)
Condensed Statements of Income and Comprehensive Income

For the Years Ended December 31,
(In thousands)202020192018
Revenues
Investment income$141 $295 $396 
Total revenues141 295 396 
Expenses
Other operating expenses$10 $86 $95 
Total expenses10 86 95 
Income before income taxes and equity in net income of subsidiary131 209 301 
Federal income tax expense (benefit)68 44 (1,165)
Net income before equity in net income (loss) of subsidiary$63 $165 $1,466 
Equity in net income (loss) of subsidiary(112,769)14,655 26,184 
Net income (loss)$(112,706)$14,820 $27,650 
Other comprehensive income (loss)
Change in unrealized appreciation on investments held by subsidiary$47,054 $70,127 $(50,985)
Change in liability for underfunded employee benefit plans of subsidiary18,456 (20,924)25,513 
Other comprehensive income (loss), before tax and reclassification adjustments$65,510 $49,203 $(25,472)
Income tax effect(13,757)(10,334)5,349 
Other comprehensive income (loss), after tax, before reclassification adjustments$51,753 $38,869 $(20,123)
Reclassification adjustment for net realized gains of the subsidiary included in income(1,750)1,521 784 
Reclassification adjustment for employee benefit costs of the subsidiary included in expense4,289 4,497 6,642 
Total reclassification adjustments, before tax$2,539 $6,018 $7,426 
Income tax effect(534)(1,263)(1,559)
Total reclassification adjustments, after tax$2,005 $4,755 $5,867 
Comprehensive income (loss)$(58,948)$58,444 $13,394 

United Fire Group, Inc. and its subsidiaries file a consolidated federal income tax return. The federal income tax provision represents an allocation under its tax allocation agreements.

This condensed financial information should be read in conjunction with the Consolidated Financial Statements and Notes included in Part II, Item 8 of this Annual Report on Form 10-K.
Schedule II. Condensed Financial Statements of Parent Company (continued)

United Fire Group, Inc. (parent company only)
Condensed Statements of Cash Flows
For the Years Ended December 31,
(In thousands)202020192018
Cash flows from operating activities
Net income (loss)$(112,706)$14,820 $27,650 
Adjustments to reconcile net income to net cash provided by operating activities
Equity in net income of subsidiary112,769 (14,655)(26,184)
Dividends received from subsidiary4,000 57,000 105,000 
Other, net3,907 5,512 1,824 
Total adjustments$120,676 $47,857 $80,640 
Net cash provided by operating activities$7,970 $62,677 $108,290 
Cash flows from investing activities
Net cash used in investing activities$— $— $— 
Cash flows from financing activities
Payment of cash dividends$(28,532)$(32,662)$(105,408)
Repurchase of common stock(2,741)(11,700)(5,404)
Issuance of common stock(71)2,377 7,171 
Net cash used in financing activities$(31,344)$(41,985)$(103,641)
Net change in cash and cash equivalents$(23,374)$20,692 $4,649 
Cash and cash equivalents at beginning of period29,878 9,186 4,537 
Cash and cash equivalents at end of year$6,504 $29,878 $9,186 

This condensed financial information should be read in conjunction with the Consolidated Financial Statements and Notes included in Part II, Item 8 of this Form 10-K.