Schedule I - Summary of Investments Other Than Investments in Related Parties

12 Months Ended

Dec. 31, 2011

Schedule I - Summary of Investments Other Than Investments in Related Parties [Abstract]

Schedule I - Summary of Investments Other Than Investment in Related Parties



NATIONAL WESTERN LIFE INSURANCE COMPANY AND SUBSIDIARIES SCHEDULE I SUMMARY OF INVESTMENTS OTHER THAN INVESTMENTS IN RELATED PARTIES December 31, 2011 (In thousands)
Type of Investment	(1) Cost		Fair Value		Balance Sheet Amount
Fixed maturity bonds:
Securities held to maturity:
United States government and government agencies and authorities	$	207,401	211,238		207,401
States, municipalities, and political subdivisions	358,364		385,422		358,364
Foreign governments	9,979		10,906		9,979
Public utilities	685,989		758,551		685,989
Corporate	2,258,640		2,439,708		2,258,640
Mortgage-backed	2,082,650		2,238,034		2,082,650
Asset-backed	38,886		38,471		38,886
Total securities held to maturity	5,641,909		6,082,330		5,641,909

Securities available for sale:
United States government and government agencies and authorities	—		—		—
States, municipalities, and political subdivisions	4,042		3,888		3,888
Foreign Government	20,145		20,733		20,733
Public utilities	327,794		359,398		359,398
Corporate	1,881,735		2,031,040		2,031,040
Mortgage-backed	163,856		176,056		176,056
Asset-backed	18,576		17,292		17,292
Total securities available for sale	2,416,148		2,608,407		2,608,407
Total fixed maturity bonds	8,058,057		8,690,737		8,250,316

Equity securities:
Securities available for sale:
Common stocks:
Public utilities	1,142		1,653		1,653
Banks, trust and insurance companies (2)	202		235		235
Corporate	3,273		4,543		4,543
Preferred stocks	1,690		1,997		1,997
Total equity securities	6,307		8,428		8,428

Derivatives, index options	30,844		—		30,844
Mortgage loans	157,460		—		157,460
Policy loans	74,967		—		74,967
Other long-term investments (3)	34,472		—		34,472
Total investments other than investments in related parties	$	297,743	$	—	297,743

Notes:

(1) Bonds are shown at amortized cost, mortgage loans are shown at unpaid principal balances before allowances for possible losses, and real estate is stated at cost before allowances for possible losses.

(2) Equity securities with related parties having a cost of $0.2 million and balance sheet amount of $8.1 million have been excluded.

(3) Real estate acquired by foreclosure included in other long-term investments is as follows: cost $0.9 million; balance sheet amount $0.9 million.

See accompanying report of Independent Registered Public Accounting Firm.

- Definition

The entire disclosure for the schedule applicable to insurance companies summarizing investments held as of the most recent audited balance sheet. At a minimum, such summary is by three major categories of investments including: (1) fixed maturities primarily consisting of bonds, including convertibles and bonds with warrants, and redeemable preferred stocks, (2) equity securities primarily consisting of common stocks and nonredeemable preferred stocks, and (3) other investments including mortgage loans on real estate, real estate held for investment, real estate acquired in satisfaction of debt, policy loans, other long-term investments, and short-term investments not otherwise categorized. The information provided with respect to each item within each category includes: (A) the original cost of equity securities and, as to fixed maturity securities, original cost reduced by repayments and adjusted for amortization of premiums or accrual of discounts, (B) fair value as of the reporting date, and (C) the amount at which the item within each category is shown in the statement of financial position; with respect to (C), if the amount at which shown in the statement of financial position is different from the items original [amortized] cost or fair value, an explanation of the difference may be included herein.

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