CITIZENS, INC. CIA Cash Flow

Citizens, inc. (CIA)

CashFlow / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11
Cash flows from operating activities:
Net income (loss)
-3,584	4,951	2,046	-4,565	-3,802	-1,432	-7,109	-2,558	37	-44,204	3,449	572	2,056	116	2,762	1,482	-2,391	-1,757	103	-1,914	425	-10,641	2,324	1,150	1,197	806	1,824	1,307	856	-297	2,911	403	1,512	1,798	2,053	3,009	1,622
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Realized (gains) losses on sale of investments and other assets
-1,306	2,085	72	-2,869	5,961	1,359	-498	-178	-575	-224	-404	-117	1,263	-209	46	-26	-1,796	-2,973	-2,407	-8	-71	332	-222	-73	-56	-390	30	82	31	-911	763	246	98	724	35	-13	19
Net deferred policy acquisition cost
1,110	-	-	-	1,449	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net deferred policy acquisition costs
-	-	-	-	-	-	-	-1,560	-1,643	-	133	-759	-474	2,384	976	1,224	-367	1,547	2,211	2,389	1,557	3,749	2,850	2,530	1,859	3,533	2,309	3,309	1,736	3,392	3,413	2,611	1,813	2,922	2,360	8,099	-2,403
Amortization of cost of customer relationships acquired
368	354	355	418	419	941	366	472	679	500	635	475	519	475	641	402	545	549	605	516	647	584	453	614	531	589	681	560	578	633	598	660	576	885	708	758	647
Decrease in fair value of warrants
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-137	-241	-37	-36	318	-239	-816	-399
Depreciation
70	408	421	452	396	530	213	271	437	302	259	268	236	206	195	81	324	208	185	187	199	152	219	422	323	302	318	317	320	318	308	308	299	304	302	246	205
Amortization of premiums and discounts on investments
-2,393	-2,437	-3,134	-3,245	-4,043	-4,217	-4,449	-4,177	-4,155	-4,208	-4,115	-4,177	-4,106	-3,967	-3,743	-3,600	-3,366	-3,236	-3,202	-2,928	-2,655	-2,724	-2,509	-2,275	-2,230	-2,688	-1,972	-1,959	-2,297	-1,967	-1,677	-1,423	-1,015	-999	-965	-1,003	-1,240
Stock-based compensation
193	169	343	127	1,460	100	97	213	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred federal income tax benefit
-280	1,013	654	-234	140	3,304	62,198	-1,076	-1,793	23,662	-998	1,918	-3,895	-3,218	-4,432	-8,193	6,009	4,806	-2,248	2,161	-1,204	-77,740	298	-415	-1,023	-1,349	-805	-431	-1,148	73	-553	-1,043	-636	-906	-703	83	-250
Change in:
Accrued investment income
-348	-195	-1,272	765	-312	78	-852	489	-310	819	-424	1,031	-267	1,164	20	589	724	186	793	192	778	195	385	59	471	511	362	466	608	126	1,492	-167	1,066	-678	-150	183	999
Reinsurance recoverable
-444	100	140	-131	-77	38	-345	191	65	-202	100	-92	47	180	-386	129	-227	112	-308	111	-174	95	-400	116	220	-96	-2,183	-156	-2,822	423	142	-508	32	-328	450	43	-332
Due premiums
-1,045	1,919	180	-526	-2,242	987	547	896	-1,870	1,860	-750	392	-1,589	1,915	-548	647	-981	800	-125	652	-285	750	-53	-307	-822	1,215	-449	212	-296	834	923	99	-498	1,362	-182	-195	-353
Future policy benefit reserves
9,414	13,485	6,365	9,412	12,217	15,071	1,760	16,908	14,757	24,044	19,541	17,808	14,527	23,024	19,669	16,245	15,645	20,716	19,260	19,734	17,191	24,986	19,275	19,960	17,697	21,944	15,940	17,545	14,504	18,864	16,845	16,659	14,026	18,691	14,366	12,842	12,100
Other policyholders' liabilities
2,318	3,078	621	493	1,195	-473	-3,007	2,068	2,352	241	1,481	289	3,849	4,280	925	1,273	1,043	572	102	981	4,404	4,558	1,030	1,199	2,053	3,904	337	-1,766	1,345	2,175	1,100	1,555	370	1,014	697	-162	1,212
Federal income tax receivable
1,850	-3,239	-566	1,475	5,671	-6,401	-49,536	-477	4,335	9,276	-1,168	-2,455	6,155	2,033	4,249	7,933	-4,928	-5,587	2,006	-1,085	-2,171	78,006	168	-1,463	1,496	175	639	-1,354	1,400	-1,458	1,269	-477	1,297	-557	503	-975	2,042
Commissions payable and other liabilities
-2,865	1,225	1,983	-488	204	3,051	6,620	810	-6,872	3,554	-3,621	-901	-5,785	6,751	-1,873	1,678	-122	738	-675	3,131	-2,577	12,739	-965	2,259	-1,030	1,777	52	311	-1,408	2,339	-406	-1,607	190	1,677	-1,055	593	193
Other, net
37	-144	-1,420	1,132	2,139	-453	-199	975	429	-722	-398	-97	1,158	-894	-361	-103	1,134	-618	-527	493	751	-831	-682	762	1,293	-1,021	-427	-402	1,410	-1,063	-669	625	890	-498	-433	-446	1,547
Net cash provided by operating activities
14,093	21,310	19,507	13,483	17,923	19,385	23,249	19,995	21,991	24,153	25,436	21,793	21,630	33,094	26,132	22,041	21,004	24,427	22,903	22,810	17,013	31,078	23,433	22,914	20,509	27,084	21,316	14,937	18,077	21,676	17,444	14,938	15,212	20,719	15,517	13,716	14,329
Cash flows from investing activities:
Maturities and calls of fixed maturities, held-to-maturity
-	-	-	-	-	0	3,150	15,254	2,295	1,410	4,295	2,145	1,245	4,615	3,515	305	5,970	4,640	5,780	3,000	6,975	10,468	2,149	-918	9,292	1,200	10,748	8,000	18,465	15,250	39,000	93,630	22,000	30,711	25,900	8,000	19,000
Purchase of fixed maturities, available-for-sale
65,714	119,182	98,716	37,520	74,209	85,359	33,639	32,089	43,914	32,161	39,259	55,203	41,076	69,425	55,926	41,080	68,533	46,019	31,042	32,673	24,392	40,046	41,621	11,078	36,161	34,009	-37,778	45,550	64,046	35,673	66,170	80,908	37,650	28,172	30,677	3,585	47,922
Sale of fixed maturities, available-for-sale
940	27,192	29,294	2,755	7,659	37,739	1,084	0	0	569	0	0	508	20,638	0	0	0	-	-	-	-	-	-	-	-	-1	259	0	58	73	0	0	503	0	0	0	0
Maturities and calls of fixed maturities, available-for-sale
44,612	69,861	63,189	16,937	31,631	14,716	13,544	21,145	16,501	9,446	21,701	25,644	18,111	11,731	6,676	29,749	7,876	28,508	27,699	10,767	8,257	11,747	15,128	6,630	16,900	13,219	7,111	18,092	15,851	31,241	20,545	34,458	70,619	72,388	66,156	52,315	8,871
Purchases of equity securities
4,473	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchase of fixed maturities, held-to-maturity
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	2,960	2,547	14,069	18,332	6,397	16,562	5,874	572	5,239	6,347	-21	75,386	0	0	7,014	44,480	51,768	42,508	126,519	50,292	48,201	5,973
Sale of equity securities
-	-	-	-	-	-	-	-	-	-	-	-	1,940	4,697	0	403	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Calls of equity securities
-	-	-	-	-	-	-	-	-	-	150	0	300	400	149	273	0	0	0	0	150	0	0	100	100	100	0	200	200	100	400	95	325	0	250	282	150
Purchase of equity securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	601	1	15,012	4,002	17,283	0	-	-	-	-	-	-	-	-	-	-	-	-
Principal payments on mortgage loans
4	3	2	2	2	2	2	3	2	2	1	2	32	-	231	119	7	-	11	9	9	-	9	9	12	-	-	-	-	-	-	-	-	-	-	-	-
Principal payments on mortgage loans
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-133	-	-14	-11	-11	-	-13	-12	-11
Increase in policy loans, net
-676	39	420	71	650	1,813	1,435	1,941	1,901	2,520	1,833	1,766	944	1,958	1,557	1,146	1,845	1,198	2,316	1,364	1,256	1,457	574	1,713	1,420	1,509	1,535	952	1,879	209	1,670	944	1,080	1,016	1,130	613	721
Sale of other long-term investments and real estate
0	2	-15	0	6,996	0	13	0	1	1	0	1	3,039	36	1	0	0	1	1	0	58	1	0	0	1	1	0	0	1	1	0	2	2	-	-	-	-
Purchases of other long-term investments
2,810	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	3	41	42	0	22	25	69	-	-	-	-
Sale of property and equipment
0	-	-	-	18	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-283	-	-	-	-	-	-	-	-	-	-	-	-
Sale of other long-term investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1
Purchase of other long-term investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Purchase of property and equipment
5	2	121	131	257	287	226	150	61	103	271	519	433	1,236	451	261	266	350	117	36	87	93	48	340	0	7	65	140	181	217	52	135	215	138	320	763	579
Maturity of short-term investments
650	1,150	0	7,940	0	-	-	-	-	-	-	-	-	6	0	-1	251	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchase of short-term investments
45	0	1	2,455	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	531	0	0	2,378	0	-	-	-	-
Cash used in acquisition, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	4,810	0	0	0	0	-	-	-	-	-	-	-	-
Net cash used in investing activities
-26,165	-21,201	-6,773	-12,561	-28,810	-42,763	-17,507	2,213	-27,077	-23,356	-15,175	-29,196	-17,278	-30,530	-47,339	-15,121	-59,087	14,680	-18,570	-27,295	-26,849	-37,864	-25,502	-17,868	-22,716	-14,949	-21,086	-16,861	-31,971	-6,437	-47,579	-7,962	11,938	-52,724	-11,620	6,432	-27,162
Cash flows from financing activities:
Warrants exercised
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	754	0	68	52	1,774	17	0
Annuity deposits
1,618	1,769	1,895	1,512	1,541	2,043	1,617	1,830	1,775	2,106	2,875	1,660	2,705	2,430	2,263	2,089	1,891	2,026	2,082	1,874	2,121	1,764	2,892	1,098	1,489	2,003	1,478	1,573	1,242	2,261	1,344	1,839	1,586	1,562	1,656	1,602	1,560
Annuity withdrawals
561	2,820	2,050	1,959	1,676	1,926	1,939	1,952	1,506	1,839	1,885	1,659	1,416	1,746	1,731	1,427	1,280	1,137	1,404	999	1,563	1,256	1,274	1,014	1,568	1,232	1,034	1,244	1,039	1,031	1,049	995	963	779	1,278	841	1,000
Other
-246	0	0	0	-377	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other
-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by financing activities
811	-1,051	-155	-447	-512	117	-322	-122	269	267	990	1	1,289	684	532	662	611	889	678	875	558	508	1,618	84	-79	771	444	329	203	1,230	1,049	844	691	835	2,152	778	560
Net decrease in cash and cash equivalents
-11,261	-	-	-	-11,399	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash and Cash Equivalents, Period Increase (Decrease)
-	-	-	-	-	-23,261	5,420	22,086	-4,817	1,064	11,251	-7,402	5,641	3,248	-20,675	7,582	-37,472	39,996	5,011	-3,610	-9,278	-6,278	-451	5,130	-2,286	12,906	674	-1,595	-13,691	16,469	-29,086	7,820	27,841	-31,170	6,049	20,926	-12,273
Cash paid during the year for income taxes
-	-	-	-	-	-	-	-	-	2,160	1,827	2,060	-3,372	1,827	895	1,339	0	1,222	0	0	3,300	1,949	508	2,213	0	1,779	959	2,273	0	1,242	417	1,456	-79	-	-	-	-
Cash received during the period for income taxes recovered
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	923