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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net income (loss) $ (1,333) $ (3,573)
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Investment related (gains) losses on sale of investments and other assets 582 (292)
Net deferred policy acquisition cost 1,036 1,198
Amortization of cost of customer relationships acquired 236 367
Depreciation 153 308
Amortization of premiums and discounts on investments 1,386 1,323
Stock-based compensation 132 76
Deferred federal income tax expense (benefit) 187 (432)
Change in:    
Accrued investment income 442 275
Reinsurance recoverable 1,965 1,410
Due premiums 1,777 1,771
Future policy benefit reserves 6,494 5,185
Other policyholders' liabilities (2,406) 4,528
Federal income tax receivable 172 1,257
Commissions payable and other liabilities 1,489 (11,317)
Other, net (172) (275)
Net cash provided by operating activities 12,140 1,809
Cash flows from investing activities:    
Purchase of fixed maturities, available-for-sale (26,050) (37,294)
Sale of fixed maturities, available-for-sale 1,100 4,445
Maturities and calls of fixed maturities, available-for-sale 10,435 14,376
Principal payments on mortgage loans 2 4
Increase in policy loans, net 962 644
Sale of other long-term investments and real estate 1,681 15,089
Purchases of other long-term investments (7,940) (4,619)
Purchase of property and equipment (34) (15)
Purchase of short-term investments (5) 0
Net cash used in investing activities (19,849) (7,370)
Cash flows from financing activities:    
Annuity deposits 2,227 2,431
Annuity withdrawals (2,263) (2,329)
Purchase of treasury stock 0 (9,090)
Issuance of common stock 1,788 0
Other (39) (89)
Net cash provided by financing activities 1,713 (9,077)
Net increase (decrease) in cash and cash equivalents (5,996) (14,638)
Cash and cash equivalents at beginning of year 27,294 34,131
Cash and cash equivalents at end of period $ 21,298 $ 19,493