| Dec'11 | Dec'10 | Dec'09 | Dec'08 | ||
|---|---|---|---|---|---|
Net income attributable to shareholders | |||||
178,696 | 168,911 | 91,177 | 36,683 | ||
Change in policy liabilities and policyholder accounts | |||||
308,172 | 213,687 | 234,615 | 233,116 | ||
Net change in reinsurance receivables and payables | |||||
7,987 | 5,322 | -18,513 | -30,746 | ||
Net change in premiums receivable | |||||
24,501 | 3,176 | 9,534 | - | ||
Amortization, principally the cost of business acquired and investments | |||||
35,932 | 47,090 | 19,343 | 63,438 | ||
Deferred costs of business acquired | |||||
98,351 | 88,808 | 76,385 | 124,529 | ||
Net realized (gains) losses on investments | |||||
-14,909 | -25,875 | -147,543 | - | ||
Net realized losses on investments | |||||
- | - | - | -88,177 | ||
Net change in federal income taxes | |||||
31,612 | 24,128 | -15,616 | -68,689 | ||
Other operating activities | |||||
-38,464 | 19,583 | -50,891 | -137,390 | ||
Net cash provided by operating activities | |||||
476,946 | 362,802 | 460,547 | 396,332 | ||
Purchases of investments and loans made | |||||
3,188,213 | 2,451,199 | 1,859,365 | 1,474,661 | ||
Sales of investments and receipts from repayment of loans | |||||
1,936,963 | 1,463,446 | 1,014,200 | 537,328 | ||
Maturities of investments | |||||
446,086 | 291,475 | 159,525 | 336,417 | ||
Net change in short-term investments | |||||
-56,663 | -72,567 | 5,162 | 115,587 | ||
Change in deposit in separate account | |||||
- | - | -4,845 | - | ||
Change in deposit in separate account | |||||
- | - | - | -12,429 | ||
Net cash used by investing activities | |||||
-748,501 | -623,711 | -685,957 | -704,074 | ||
Deposits to policyholder accounts | |||||
525,913 | 389,720 | 267,499 | 388,419 | ||
Withdrawals from policyholder accounts | |||||
205,024 | 113,241 | 162,494 | 120,984 | ||
Proceeds from issuance of 2020 Senior Notes | |||||
- | 250,000 | - | - | ||
Borrowings under bank credit facility | |||||
- | 175,000 | 17,000 | 139,000 | ||
Principal payments under bank credit facility | |||||
- | 272,000 | 2,000 | 6,000 | ||
Early retirement of senior notes | |||||
- | 143,750 | - | - | ||
Early retirement of junior subordinated deferrable interest debentures | |||||
- | - | - | 20,619 | ||
Proceeds from the issuance of common stock | |||||
- | - | 120,696 | - | ||
Acquisition of treasury stock | |||||
9,685 | - | - | 42,729 | ||
Cash dividends paid on common stock | |||||
26,309 | 23,247 | 20,160 | 18,409 | ||
Other financing activities | |||||
7,752 | 5,769 | 6,496 | 1,661 | ||
Net cash provided (used) by financing activities | |||||
292,647 | 268,251 | 227,037 | 320,339 | ||
Increase in cash | |||||
21,092 | 7,342 | 1,627 | 12,597 | ||