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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Cash flows - operating activities    
Premiums collected $ 538,633 $ 527,567
Policyholder benefits paid (399,465) (368,000)
Policy acquisition and other operating expenses paid (196,209) (202,692)
Federal income taxes paid (20,327) (17,392)
Investment income collected 246,042 240,119
Interest expense paid (7,316) (7,140)
Other (1,881) (6,817)
Net cash provided by operating activities 159,477 165,645
Fixed maturities    
Purchases (1,111,958) (958,561)
Sales 327,641 198,191
Maturities, paydowns, calls and redemptions 502,554 269,732
Purchase of other invested assets (19,037) (5,000)
Net cash provided by short-term and other investments 56,831 29,353
Net cash used in investing activities (243,969) (466,285)
Cash flows - financing activities    
Dividends paid to shareholders (31,975) (29,421)
Principal borrowings on Bank Credit Facility 75,000 0
Maturity of Senior Notes due 2015 (75,000) 0
Acquisition of treasury stock (15,775) (5,411)
Exercise of stock options 1,518 7,324
Annuity contracts: variable, fixed and FHLB funding agreements    
Deposits 422,195 611,721
Benefits, withdrawals and net transfers to Separate Account (variable annuity) assets (258,076) (237,016)
Life policy accounts    
Deposits 742 864
Withdrawals and surrenders (3,050) (3,662)
Cash paid related to repurchase agreements 0 (25,848)
Change in bank overdrafts 7,153 5,092
Net cash provided by financing activities 122,732 323,643
Net increase in cash 38,240 23,003
Cash at beginning of period 11,675 18,189
Cash at end of period $ 49,915 $ 41,192