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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities:    
Net income (loss) $ 1,449 $ (4,611)
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Realized (gains) losses on sale of investments and other assets (5,151) (142)
Net deferred policy acquisition cost 1,485 3,440
Amortization of cost of customer relationships acquired 676 769
Depreciation 761 422
Amortization of premiums and discounts on investments 2,715 4,683
Stock-based compensation 306 632
Deferred federal income tax expense (benefit) (141) (76)
Change in:    
Accrued investment income (164) 569
Reinsurance recoverable 931 725
Due premiums 1,973 704
Future policy benefit reserves 11,432 17,593
Other policyholders' liabilities 6,891 4,091
Federal income tax receivable 1,555 3,108
Commissions payable and other liabilities (14,494) (2,690)
Other, net (1,246) (665)
Net cash provided by operating activities 8,978 28,552
Cash flows from investing activities:    
Purchase of fixed maturities, available-for-sale (48,106) (113,141)
Sale of fixed maturities, available-for-sale 7,254 2,982
Maturities and calls of fixed maturities, available-for-sale 29,574 101,852
Purchase of equity securities 0 (4,473)
Principal payments on mortgage loans 5 5
Increase in policy loans, net 2,697 (2,166)
Sale of other long-term investments and real estate 17,341 0
Purchases of other long-term investments (12,203) (9,140)
Purchase of property and equipment (773) (38)
Maturity of short-term investments 0 1,300
Net cash used in investing activities (4,211) (22,819)
Cash flows from financing activities:    
Annuity deposits 4,793 2,928
Annuity withdrawals (4,113) (2,245)
Purchase of treasury stock (9,090) 0
Other (363) (246)
Net cash provided by financing activities (8,773) 437
Net increase (decrease) in cash and cash equivalents (4,006) 6,170
Cash and cash equivalents at beginning of year 34,131 46,205
Cash and cash equivalents at end of period $ 30,125 $ 52,375