| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 |
|---|---|---|---|---|---|---|---|---|---|---|---|
Cash Flows From Operating Activities | |||||||||||
Net Income (Loss) | |||||||||||
1,997,000 | 287,000 | 1,045,000 | 591,000 | 634,000 | 525,000 | 517,000 | 421,000 | 164,000 | 375,000 | 432,000 | 429,000 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
Depreciation and amortization | |||||||||||
72,000 | 63,000 | 55,000 | 48,000 | 52,000 | 51,000 | 50,000 | 44,000 | 42,000 | 41,000 | 38,000 | 32,000 |
Gain (Loss) on Sale of Investments | |||||||||||
1,640,000 | -408,000 | 148,000 | 124,000 | 70,000 | 133,000 | 83,000 | 42,000 | 70,000 | 159,000 | 336,000 | 138,000 |
Share-based compensation | |||||||||||
30,000 | 28,000 | 26,000 | 23,000 | 20,000 | 19,000 | 18,000 | 16,000 | 13,000 | 11,000 | 10,000 | 15,000 |
Interest credited to contract holders' | |||||||||||
44,000 | 47,000 | 48,000 | 48,000 | 44,000 | 47,000 | 44,000 | -44,000 | -51,000 | -48,000 | -43,000 | -34,000 |
Deferred Income Tax Expense (Benefit) | |||||||||||
343,000 | -47,000 | -444,000 | 38,000 | 16,000 | 37,000 | 19,000 | 26,000 | -18,000 | 29,000 | 71,000 | -127,000 |
Changes in: | |||||||||||
Investment income receivable | |||||||||||
1,000 | -2,000 | 0 | 5,000 | 6,000 | 2,000 | 6,000 | -4,000 | 0 | 1,000 | 20,000 | -26,000 |
Premiums and reinsurance receivable | |||||||||||
174,000 | 109,000 | -77,000 | 113,000 | 48,000 | 60,000 | 64,000 | 122,000 | 128,000 | -80,000 | -148,000 | -43,000 |
Deferred policy acquisition costs | |||||||||||
61,000 | 48,000 | 36,000 | 26,000 | 18,000 | 20,000 | 44,000 | 28,000 | 30,000 | 20,000 | 12,000 | 17,000 |
Other assets | |||||||||||
22,000 | 1,000 | 43,000 | -34,000 | 39,000 | -19,000 | 32,000 | 4,000 | -2,000 | -3,000 | -10,000 | -5,000 |
Loss and loss expense reserves | |||||||||||
163,000 | 434,000 | 188,000 | 367,000 | 233,000 | 174,000 | -81,000 | 109,000 | -139,000 | -58,000 | -56,000 | -119,000 |
Life policy and investment contract reserves | |||||||||||
107,000 | 96,000 | 96,000 | 102,000 | 101,000 | 119,000 | 84,000 | 72,000 | 76,000 | 113,000 | 110,000 | 67,000 |
Unearned premiums | |||||||||||
184,000 | 112,000 | 97,000 | 106,000 | 119,000 | 106,000 | 184,000 | 159,000 | 80,000 | 44,000 | -35,000 | -20,000 |
Other liabilities | |||||||||||
74,000 | 0 | 24,000 | 61,000 | 55,000 | -11,000 | 77,000 | 78,000 | -49,000 | -18,000 | 5,000 | -25,000 |
Current income tax receivable/payable | |||||||||||
-92,000 | 91,000 | -67,000 | 35,000 | 18,000 | -2,000 | 49,000 | -79,000 | 25,000 | 73,000 | -5,000 | -41,000 |
Net cash provided by operating activities | |||||||||||
1,208,000 | 1,181,000 | 1,052,000 | 1,115,000 | 1,075,000 | 873,000 | 796,000 | 638,000 | 247,000 | 531,000 | 525,000 | 484,000 |
Cash Flows From Investing Activities | |||||||||||
Sale of fixed maturities | |||||||||||
102,000 | 36,000 | 23,000 | 15,000 | 43,000 | 26,000 | 40,000 | 144,000 | 71,000 | 199,000 | 187,000 | 167,000 |
Call or maturity of fixed maturities | |||||||||||
1,241,000 | 1,127,000 | 1,172,000 | 1,511,000 | 1,199,000 | 1,019,000 | 930,000 | 927,000 | 808,000 | 886,000 | 659,000 | 1,029,000 |
Sale of equity securities | |||||||||||
203,000 | 403,000 | 523,000 | 465,000 | 342,000 | 335,000 | 178,000 | 216,000 | 539,000 | 273,000 | 1,247,000 | 2,052,000 |
Purchase of fixed maturities | |||||||||||
1,742,000 | 1,510,000 | 1,723,000 | 1,994,000 | 1,722,000 | 1,312,000 | 1,381,000 | 1,166,000 | 1,087,000 | 1,483,000 | 2,135,000 | 1,695,000 |
Purchase of equity securities | |||||||||||
382,000 | 441,000 | 513,000 | 439,000 | 493,000 | 392,000 | 265,000 | 425,000 | 337,000 | 396,000 | 796,000 | 771,000 |
Purchase of short-term investments | |||||||||||
- | - | - | - | - | - | - | - | - | -7,000 | -78,000 | -20,000 |
Investment in finance receivables | |||||||||||
34,000 | 33,000 | 32,000 | 17,000 | 14,000 | 18,000 | 39,000 | 33,000 | 32,000 | 27,000 | 34,000 | 17,000 |
Collection of finance receivables | |||||||||||
29,000 | 25,000 | 23,000 | 30,000 | 30,000 | 31,000 | 30,000 | 34,000 | 30,000 | 29,000 | 30,000 | 36,000 |
Investment in buildings and equipment | |||||||||||
24,000 | 20,000 | 16,000 | 13,000 | 10,000 | 9,000 | 7,000 | 6,000 | 7,000 | 17,000 | 42,000 | 36,000 |
Change in other invested assets, net | |||||||||||
72,000 | 38,000 | 15,000 | 14,000 | -1,000 | -9,000 | -5,000 | -5,000 | -7,000 | - | 9,000 | 17,000 |
Change in securities lending collateral invested | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | -741,000 |
Net cash used in investing activities | |||||||||||
-679,000 | -451,000 | -558,000 | -456,000 | -624,000 | -311,000 | -509,000 | -304,000 | -8,000 | -529,000 | -815,000 | 1,509,000 |
Cash Flows From Financing Activities | |||||||||||
Payment of cash dividends to shareholders | |||||||||||
355,000 | 336,000 | 400,000 | 306,000 | 366,000 | 278,000 | 263,000 | 256,000 | 255,000 | 252,000 | 249,000 | 250,000 |
Shares acquired - share repurchase authorization | |||||||||||
67,000 | 125,000 | 92,000 | 39,000 | 53,000 | 21,000 | 52,000 | 0 | 32,000 | 10,000 | - | 139,000 |
Changes in note payable | |||||||||||
7,000 | 8,000 | 4,000 | -15,000 | -14,000 | -55,000 | 0 | 0 | 55,000 | - | - | 20,000 |
Proceeds from stock options exercised | |||||||||||
11,000 | 9,000 | 13,000 | 21,000 | 24,000 | 22,000 | 25,000 | 10,000 | 1,000 | 0 | - | 4,000 |
Contract holders' funds deposited | |||||||||||
86,000 | 84,000 | 79,000 | 95,000 | 83,000 | 86,000 | 86,000 | 99,000 | 172,000 | 170,000 | 162,000 | 25,000 |
Contract holders' funds withdrawn | |||||||||||
174,000 | 183,000 | 164,000 | 155,000 | 148,000 | 143,000 | 128,000 | 126,000 | 121,000 | 74,000 | 66,000 | 66,000 |
Change in securities lending payable | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | -760,000 |
Excess tax benefits on share-based compensation | |||||||||||
- | - | - | 5,000 | 4,000 | 2,000 | 5,000 | 1,000 | 5,000 | 2,000 | - | - |
Other | |||||||||||
-54,000 | -60,000 | -54,000 | -32,000 | -28,000 | -17,000 | -14,000 | -13,000 | -11,000 | -10,000 | -9,000 | -4,000 |
Net cash used in financing activities | |||||||||||
-546,000 | -603,000 | -614,000 | -426,000 | -498,000 | -404,000 | -341,000 | -285,000 | -186,000 | -174,000 | -162,000 | -1,210,000 |
Net change in cash and cash equivalents | |||||||||||
-17,000 | 127,000 | -120,000 | 233,000 | -47,000 | 158,000 | -54,000 | 49,000 | 53,000 | -172,000 | -452,000 | 783,000 |
Supplemental Disclosures of Cash Flow Information: | |||||||||||
Interest paid | |||||||||||
53,000 | 53,000 | 52,000 | 52,000 | 52,000 | 53,000 | 53,000 | 54,000 | 53,000 | 53,000 | 55,000 | 53,000 |
Income taxes paid | |||||||||||
34,000 | 98,000 | 60,000 | 213,000 | 245,000 | 154,000 | 222,000 | 38,000 | 51,000 | 167,000 | 74,000 | 197,000 |
Noncash Activities | |||||||||||
Conversion of securities | |||||||||||
0 | 0 | 5,000 | 4,000 | 3,000 | 7,000 | 0 | 26,000 | 0 | 5,000 | 90,000 | - |
Equipment acquired under finance lease obligations | |||||||||||
14,000 | 21,000 | 14,000 | 20,000 | 20,000 | 12,000 | 28,000 | 23,000 | 28,000 | - | 15,000 | 2,000 |
Cashless exercise of stock options | |||||||||||
9,000 | 5,000 | 7,000 | 13,000 | 16,000 | 19,000 | 28,000 | 12,000 | 0 | - | - | - |
Other assets and other liabilities | |||||||||||
29,000 | 48,000 | 75,000 | 53,000 | 27,000 | 0 | 0 | - | - | - | - | - |