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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash flows - operating activities    
Premiums collected $ 598,882 $ 557,816
Policyholder benefits paid (410,241) (422,184)
Policy acquisition and other operating expenses paid (208,248) (207,825)
Federal income taxes paid (10,061) (18,156)
Investment income collected 271,717 259,373
Interest expense paid (5,821) (6,072)
Other 976 1,884
Net cash provided by operating activities 237,204 164,836
Fixed maturity securities    
Purchases (1,041,744) (1,097,880)
Sales 315,531 351,739
Maturities, paydowns, calls and redemptions 691,169 634,686
Purchase of other invested assets (98,109) (42,578)
Net cash used in equity securities, short-term and other investments (54,281) (75,665)
Net cash used in investing activities (187,434) (229,698)
Cash flows - financing activities    
Dividends paid to shareholders (34,580) (33,241)
Acquisition of treasury stock (1,661) (21,513)
Proceeds from exercise of stock options 3,815 2,361
Withholding tax payments on RSUs tendered (2,745) (3,321)
Annuity contracts: variable, fixed and FHLB funding agreements    
Deposits 348,900 391,944
Benefits, withdrawals and net transfers to Separate Account (variable annuity) assets (295,064) (240,489)
Transfer of Company 401(k) assets to a third-party provider (77,898) 0
Life policy accounts    
Deposits 3,357 2,957
Withdrawals and surrenders (3,340) (3,151)
Change in bank overdrafts (532) 7,422
Net cash (used in) provided by financing activities (59,748) 102,969
Net (decrease) increase in cash (9,978) 38,107
Cash at beginning of period 16,670 15,509
Cash at end of period $ 6,692 $ 53,616