XML 36 R7.htm IDEA: XBRL DOCUMENT v3.22.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows - operating activities    
Net income $ 14.5 $ 39.3
Adjustments to reconcile net income to net cash provided by operating activities:    
Net investment losses 15.5 9.0
Depreciation and intangible asset amortization 3.8 5.5
Share-based compensation expense 2.1 2.2
Income from equity method investments, net of dividends or distributions 1.6 (6.8)
Changes in:    
Accrued investment income (4.5) (5.0)
Insurance liabilities 450.5 80.8
Amounts due under reinsurance agreements (357.7) (4.0)
Income tax liabilities 3.4 8.9
Other operating assets and liabilities (31.0) 9.0
Other (2.5) 3.1
Net cash provided by operating activities 95.7 142.0
Fixed maturity securities    
Purchases (397.4) (478.4)
Sales 168.3 95.5
Maturities, paydowns, calls and redemptions 234.4 176.3
Equity securities    
Purchases (1.1) (28.4)
Sales and repayments 6.8 0.4
Limited partnership interests    
Purchases (111.0) (58.6)
Sales 20.5 13.7
Change in short-term and other investments, net 26.2 40.0
Acquisition of business, net of cash acquired (164.4) 0.0
Net cash used in investing activities (217.7) (239.5)
Cash flows - financing activities    
Dividends paid to shareholders (13.2) (12.9)
Acquisition of treasury stock (2.2) (1.5)
Proceeds from exercise of stock options 0.0 0.3
Withholding tax payments on RSUs tendered (0.9) (1.7)
Annuity contracts: variable, fixed and FHLB funding agreements:    
Deposits 182.8 235.8
Benefits, withdrawals and net transfers to Separate Account (variable annuity) assets (117.9) (101.1)
Life policy accounts:    
Deposits 2.2 2.2
Withdrawals and surrenders (0.8) (1.1)
Change in deposit asset on reinsurance (14.2) (2.8)
Change in book overdrafts 1.6 (2.6)
Net cash provided by financing activities 37.4 114.6
Net (decrease) increase in cash (84.6) 17.1
Cash at beginning of period 133.7 22.3
Cash at end of period $ 49.1 $ 39.4