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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows - operating activities    
Net income $ 49,050 $ 125,988
Adjustments to reconcile net income to net cash provided by operating activities    
Net investment (gains) losses 15,302 (153,750)
Amortization of premiums and accretion of discounts on fixed maturity securities, net 2,837 (348)
Depreciation and intangible asset amortization 11,655 4,433
Share-based compensation expense 2,786 3,451
Other expense - goodwill impairment 0 28,025
Changes in:    
Accrued investment income (568) 20,277
Insurance liabilities 38,416 (51,018)
Premium receivables 2,063 3,541
Deferred policy acquisitions 1,507 3,766
Reinsurance recoverables (2,860) 20,718
Income tax liabilities 7,215 39,466
Other operating assets and liabilities 16,683 61,029
Other 21,503 (7,742)
Net cash provided by operating activities 165,589 97,836
Fixed maturity securities    
Purchases (818,151) (644,104)
Sales 294,162 501,739
Maturities, paydowns, calls and redemptions 372,412 342,998
Equity securities    
Purchases (11,752) (5,282)
Sales and repayments 12,059 17,122
Limited partnership interests    
Purchases (30,310) (29,357)
Sales 5,666 15,029
Change in short-term and other investments, net (19,058) (156,748)
Acquisition of business, net of cash acquired 0 (18,198)
Net cash provided by (used in) investing activities (194,972) 23,199
Cash flows - financing activities    
Dividends paid to shareholders (24,777) (23,630)
FHLB borrowings 4,000 0
Acquisition of treasury stock (2,145) 0
Proceeds from exercise of stock options 899 722
Withholding tax payments on RSUs tendered (1,517) (3,366)
Annuity contracts: variable, fixed and FHLB funding agreements    
Deposits 325,019 266,310
Benefits, withdrawals and net transfers to Separate Account (variable annuity) assets (196,972) (214,243)
Life policy accounts    
Deposits 4,580 4,638
Withdrawals and surrenders (2,126) (1,733)
Change in deposit asset on reinsurance (19,894) (134,682)
Change in book overdrafts (802) (19,341)
Net cash provided by (used in) financing activities 86,265 (125,325)
Net increase (decrease) in cash 56,882 (4,290)
Cash at beginning of period 25,508 11,906
Cash at end of period $ 82,390 $ 7,616