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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net income $ 78,764 $ 97,872
Adjustments to reconcile net income to cash provided by (used in) operating activities:    
Change in future policy benefits and other policy liabilities 75,770 122,881
Deferral of policy acquisition costs (130,881) (142,297)
Amortization of deferred policy acquisition costs 86,063 66,105
Change in income taxes 4,725 25,497
Investment (gains) losses (751) (1,766)
Accretion and amortization of investments 1,356 1,112
Depreciation and amortization 8,688 5,408
Change in reinsurance recoverables 31,582 (67,301)
Change in agent balances, due premiums and other receivables 2,245 (3,725)
Change in renewal commissions receivable 18,576 (859)
Trading securities sold, matured, or called (acquired), net 11,273 (18,923)
Share-based compensation 12,437 11,653
Change in other operating assets and liabilities, net 14,452 23,801
Net cash provided by (used in) operating activities 214,299 119,458
Available-for-sale investments sold, matured or called:    
Fixed-maturity securities — sold 1,227 10,810
Fixed-maturity securities — matured or called 96,336 94,576
Short-term investments — matured or called 41,550  
Equity securities — matured or called 3,000  
Available-for-sale investments acquired:    
Fixed-maturity securities (250,932) (247,253)
Short-term investments   (50,902)
Equity securities — acquired (44) (291)
Purchases of property and equipment and other investing activities, net (7,676) (10,182)
Cash collateral received (returned) on loaned securities, net (1,358) 15,036
Sales (purchases) of short-term investments using securities lending collateral, net 1,358 (15,036)
Purchase of business, net of cash acquired 3,867  
Net cash provided by (used in) investing activities (112,672) (203,242)
Cash flows from financing activities:    
Dividends paid (21,645) (18,620)
Common stock repurchased (99,010)  
Payment on note issued to seller of business (9,000)  
Tax withholdings on share-based compensation (4,852) (5,966)
Finance leases (64) (66)
Net cash provided by (used in) financing activities (134,571) (24,652)
Effect of foreign exchange rate changes on cash 222 811
Change in cash and cash equivalents (32,722) (107,625)
Cash and cash equivalents, beginning of period 392,501 547,569
Cash and cash equivalents, end of period $ 359,779 $ 439,944