XML 73 R7.htm IDEA: XBRL DOCUMENT v2.4.1.9
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Cash flows from operating activities:      
Net earnings $ 105,588us-gaap_NetIncomeLoss $ 96,247us-gaap_NetIncomeLoss $ 92,558us-gaap_NetIncomeLoss
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Universal life and annuity contract interest 298,259us-gaap_InterestCreditedToPolicyholdersAccountBalances 454,594us-gaap_InterestCreditedToPolicyholdersAccountBalances 262,339us-gaap_InterestCreditedToPolicyholdersAccountBalances
Surrender charges and other policy revenues (12,913)us-gaap_OtherNoncashIncome (14,622)us-gaap_OtherNoncashIncome (14,720)us-gaap_OtherNoncashIncome
Realized (gains) losses on investments (11,605)us-gaap_GainLossOnInvestments (8,653)us-gaap_GainLossOnInvestments (13,201)us-gaap_GainLossOnInvestments
Accretion/amortization of discounts and premiums, investments (653)us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments (2,019)us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments (1,458)us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments
Depreciation and amortization 3,421us-gaap_DepreciationAmortizationAndAccretionNet 4,674us-gaap_DepreciationAmortizationAndAccretionNet 5,688us-gaap_DepreciationAmortizationAndAccretionNet
(Increase) decrease in value of derivatives (68,616)us-gaap_UnrealizedGainLossOnDerivatives (225,899)us-gaap_UnrealizedGainLossOnDerivatives (27,147)us-gaap_UnrealizedGainLossOnDerivatives
(Increase) decrease in deferred policy acquisition and sales inducement costs (18,336)us-gaap_IncreaseDecreaseInDeferredPolicyAcquisitionCosts (26,165)us-gaap_IncreaseDecreaseInDeferredPolicyAcquisitionCosts (10,623)us-gaap_IncreaseDecreaseInDeferredPolicyAcquisitionCosts
(Increase) decrease in accrued investment income (760)us-gaap_IncreaseDecreaseInAccruedInvestmentIncomeReceivable (2,312)us-gaap_IncreaseDecreaseInAccruedInvestmentIncomeReceivable (4,790)us-gaap_IncreaseDecreaseInAccruedInvestmentIncomeReceivable
(Increase) decrease in other assets (867)us-gaap_IncreaseDecreaseInOtherOperatingAssets (17,343)us-gaap_IncreaseDecreaseInOtherOperatingAssets (7,176)us-gaap_IncreaseDecreaseInOtherOperatingAssets
Increase (decrease) in liabilities for future policy benefits 7,698us-gaap_IncreaseDecreaseInFuturePolicyBenefitReserves 9,664us-gaap_IncreaseDecreaseInFuturePolicyBenefitReserves 13,536us-gaap_IncreaseDecreaseInFuturePolicyBenefitReserves
(Decrease) increase in other policyholder liabilities (3,365)us-gaap_IncreaseDecreaseInOtherPolicyholderFunds (5,974)us-gaap_IncreaseDecreaseInOtherPolicyholderFunds (2,747)us-gaap_IncreaseDecreaseInOtherPolicyholderFunds
(Decrease) increase in Federal income tax liability (6,731)us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable 15,722us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable (10,617)us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable
Increase (decrease) in deferred Federal income tax 22,538us-gaap_IncreaseDecreaseInDeferredIncomeTaxes (23,654)us-gaap_IncreaseDecreaseInDeferredIncomeTaxes (4,437)us-gaap_IncreaseDecreaseInDeferredIncomeTaxes
(Decrease) increase in other liabilities (394)us-gaap_IncreaseDecreaseInOperatingLiabilities (660)us-gaap_IncreaseDecreaseInOperatingLiabilities 13,076us-gaap_IncreaseDecreaseInOperatingLiabilities
Other, net 0us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet (1)us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet 0us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet
Net cash provided by operating activities 313,264us-gaap_NetCashProvidedByUsedInOperatingActivities 253,599us-gaap_NetCashProvidedByUsedInOperatingActivities 290,281us-gaap_NetCashProvidedByUsedInOperatingActivities
Proceeds from sales of:      
Securities held to maturity 0us-gaap_ProceedsFromSaleOfHeldToMaturitySecurities 1,980us-gaap_ProceedsFromSaleOfHeldToMaturitySecurities 0us-gaap_ProceedsFromSaleOfHeldToMaturitySecurities
Securities available for sale 29,730us-gaap_ProceedsFromSaleOfAvailableForSaleSecurities 10,246us-gaap_ProceedsFromSaleOfAvailableForSaleSecurities 8,214us-gaap_ProceedsFromSaleOfAvailableForSaleSecurities
Other investments 3,399us-gaap_ProceedsFromSaleAndMaturityOfOtherInvestments 11,024us-gaap_ProceedsFromSaleAndMaturityOfOtherInvestments 8,791us-gaap_ProceedsFromSaleAndMaturityOfOtherInvestments
Proceeds from maturities and redemptions of:      
Securities held to maturity 445,679us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities 1,231,796us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities 1,473,885us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities
Securities available for sale 330,127us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities 287,858us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities 347,521us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
Derivatives, index options 203,349us-gaap_ProceedsFromDerivativeInstrumentInvestingActivities 172,112us-gaap_ProceedsFromDerivativeInstrumentInvestingActivities 54,745us-gaap_ProceedsFromDerivativeInstrumentInvestingActivities
Purchases of:      
Securities held to maturity (773,743)us-gaap_PaymentsToAcquireHeldToMaturitySecurities (1,775,153)us-gaap_PaymentsToAcquireHeldToMaturitySecurities (1,787,388)us-gaap_PaymentsToAcquireHeldToMaturitySecurities
Securities available for sale (410,127)us-gaap_PaymentsToAcquireAvailableForSaleSecurities (256,855)us-gaap_PaymentsToAcquireAvailableForSaleSecurities (490,689)us-gaap_PaymentsToAcquireAvailableForSaleSecurities
Derivatives, index options (73,318)us-gaap_PaymentsForDerivativeInstrumentInvestingActivities (61,624)us-gaap_PaymentsForDerivativeInstrumentInvestingActivities (56,413)us-gaap_PaymentsForDerivativeInstrumentInvestingActivities
Other investments (376)us-gaap_PaymentsToAcquireOtherInvestments (15)us-gaap_PaymentsToAcquireOtherInvestments (5,380)us-gaap_PaymentsToAcquireOtherInvestments
Principal payments on mortgage loans 20,506us-gaap_ProceedsFromSaleAndCollectionOfMortgageNotesReceivable 43,856us-gaap_ProceedsFromSaleAndCollectionOfMortgageNotesReceivable 36,545us-gaap_ProceedsFromSaleAndCollectionOfMortgageNotesReceivable
Cost of mortgage loans acquired (37,104)us-gaap_PaymentsToAcquireMortgageNotesReceivable (34,129)us-gaap_PaymentsToAcquireMortgageNotesReceivable (21,454)us-gaap_PaymentsToAcquireMortgageNotesReceivable
(Increase) decrease in policy loans 2,324us-gaap_PaymentsForProceedsFromPolicyLoans 5,580us-gaap_PaymentsForProceedsFromPolicyLoans 3,418us-gaap_PaymentsForProceedsFromPolicyLoans
Other, net 0us-gaap_PaymentsForProceedsFromOtherInvestingActivities 0us-gaap_PaymentsForProceedsFromOtherInvestingActivities 3us-gaap_PaymentsForProceedsFromOtherInvestingActivities
Net cash used in investing activities (259,554)us-gaap_NetCashProvidedByUsedInInvestingActivities (363,324)us-gaap_NetCashProvidedByUsedInInvestingActivities (428,202)us-gaap_NetCashProvidedByUsedInInvestingActivities
Cash flows from financing activities:      
Dividends on common stock (1,273)us-gaap_PaymentsOfDividendsCommonStock (1,273)us-gaap_PaymentsOfDividendsCommonStock (1,273)us-gaap_PaymentsOfDividendsCommonStock
Deposits to account balances for universal life and annuity contracts 985,003us-gaap_ProceedsFromAnnuitiesAndInvestmentCertificates 982,305us-gaap_ProceedsFromAnnuitiesAndInvestmentCertificates 985,370us-gaap_ProceedsFromAnnuitiesAndInvestmentCertificates
Return of account balances on universal life and annuity contracts (880,658)us-gaap_RepaymentsOfAnnuitiesAndInvestmentCertificates (875,661)us-gaap_RepaymentsOfAnnuitiesAndInvestmentCertificates (841,126)us-gaap_RepaymentsOfAnnuitiesAndInvestmentCertificates
Issuance of common stock under stock option plan 350us-gaap_ProceedsFromStockOptionsExercised 0us-gaap_ProceedsFromStockOptionsExercised 0us-gaap_ProceedsFromStockOptionsExercised
Net cash provided by (used in) financing activities 103,422us-gaap_NetCashProvidedByUsedInFinancingActivities 105,371us-gaap_NetCashProvidedByUsedInFinancingActivities 142,971us-gaap_NetCashProvidedByUsedInFinancingActivities
Effect of foreign exchange (913)us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents 652us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents 221us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents
Net increase (decrease) in cash and cash equivalents 156,219us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease (3,702)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease 5,271us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Cash and short-term investments at beginning of period 120,859us-gaap_CashCashEquivalentsAndShortTermInvestments 124,561us-gaap_CashCashEquivalentsAndShortTermInvestments 119,290us-gaap_CashCashEquivalentsAndShortTermInvestments
Cash and short-term investments at end of period 277,078us-gaap_CashCashEquivalentsAndShortTermInvestments 120,859us-gaap_CashCashEquivalentsAndShortTermInvestments 124,561us-gaap_CashCashEquivalentsAndShortTermInvestments
Cash paid during the period for:      
Interest 40us-gaap_InterestPaid 50us-gaap_InterestPaid 40us-gaap_InterestPaid
Income taxes 36,123us-gaap_IncomeTaxesPaid 57,350us-gaap_IncomeTaxesPaid 62,540us-gaap_IncomeTaxesPaid
Noncash operating activities:      
Deferral of sales inducements $ (8,003)nwli_DeferralOfSalesInducementsNoncashOperatingActivity $ 803nwli_DeferralOfSalesInducementsNoncashOperatingActivity $ 4,498nwli_DeferralOfSalesInducementsNoncashOperatingActivity