XML 131 R117.htm IDEA: XBRL DOCUMENT v3.20.4
Schedule II - Condensed Financial Information of Registrant (Statements of Cash Flows (Parent Company)) (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities:      
Net income $ 530,670 $ 681,944 $ 640,749
Adjustments to reconcile net income to net cash from operating activities:      
Depreciation and amortization 135,065 113,387 131,108
Stock incentive plans 49,658 49,274 36,591
Change in:      
Other liabilities 43,039 (19,506) (48,770)
Net cash from operating activities 1,616,686 1,143,793 620,199
Cash (used in) from investing activities:      
Proceeds from sale of fixed maturity securities 3,832,555 2,093,271 3,525,149
Proceeds from maturities and prepayments of fixed maturity securities 3,864,327 2,933,980 2,676,455
Cost of purchases of fixed maturity securities (7,551,591) (5,352,886) (6,677,753)
Change in loans receivable 1,467 3,481 (13,204)
Change in balances due from security brokers (26,515) 2,844 4,262
Net cash from (used) in investing activities 119,696 (424,871) (714,244)
Cash used in financing activities:      
Purchase of common treasury shares (346,357) (18,225) (24,750)
Cash dividends to common stockholders (84,147) (308,191) (254,951)
Other, net (56,225) (21,391) (17,740)
Net cash used in financing activities (397,843) (513,193) (7,403)
Net increase (decrease) in cash and cash equivalents 1,348,656 206,108 (132,869)
Cash and cash equivalents at beginning of year 1,023,710 817,602 950,471
Cash and cash equivalents at end of year 2,372,366 1,023,710 817,602
Parent Company      
Cash flows from operating activities:      
Net income 530,670 681,944 640,749
Adjustments to reconcile net income to net cash from operating activities:      
Net investment (gains) losses (3,580) (850) 1,685
Depreciation and amortization 15,133 7,058 9,441
Equity in undistributed earnings of subsidiaries (135,535) (496,841) 5,129
Tax payments received from subsidiaries 165,495 192,407 282,084
Federal income taxes provided by subsidiaries on a separate return basis (188,489) (207,646) (409,439)
Stock incentive plans 49,599 28,389 28,531
Change in:      
Federal income taxes 32,069 11,841 (77,415)
Other assets 1,220 (5,343) 1,348
Other liabilities 3,964 11,866 109,016
Accrued investment income 836 4,395 (2,870)
Net cash from operating activities 471,382 227,220 588,259
Cash (used in) from investing activities:      
Proceeds from sale of fixed maturity securities 414,802 619,334 668,447
Proceeds from maturities and prepayments of fixed maturity securities 258,413 435,473 255,528
Cost of purchases of fixed maturity securities (747,713) (459,418) (1,188,821)
Change in loans receivable (20,023) (4,250) 1,475
Investments in and advances to subsidiaries, net (100,704) (36,170) (184,597)
Change in balances due from security brokers (245) 245 0
Net additions to real estate, furniture & equipment (81) (112) (264)
Other, net 103 142 0
Net cash from (used) in investing activities (195,448) 555,244 (448,232)
Cash used in financing activities:      
Net proceeds from issuance of senior notes 736,609 290,454 178,562
Repayment and redemption of debt (650,000) (440,651) 0
Purchase of common treasury shares (346,357) (18,225) (24,750)
Cash dividends to common stockholders (84,147) (308,191) (254,951)
Other, net (24,880) 0 0
Net cash used in financing activities (368,775) (476,613) (101,139)
Net increase (decrease) in cash and cash equivalents (92,841) 305,851 38,888
Cash and cash equivalents at beginning of year 389,801 83,950 45,062
Cash and cash equivalents at end of year $ 296,960 $ 389,801 $ 83,950