FBL FINANCIAL GROUP, INC. FFG Cash Flow

Fbl financial group, inc. (FFG)

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
Operating activities
Net income (loss)
-2,571	34,831	25,176	32,257	34,044	6,460	31,035	32,785	23,542	103,988	24,592	32,318	26,435	22,502	30,007	24,392	25,937	30,900	26,640	32,363	23,570	28,143	30,152	28,625	22,949	26,917	26,985	29,553	24,938	22,555	20,542	20,193	16,567	-47,593	27,068	36,221	25,049
Adjustments to reconcile net income to net cash provided by operating activities:
Interest credited to account balances
40,980	42,643	39,098	41,621	38,531	41,198	40,726	42,049	40,650	42,083	41,090	39,682	40,256	39,810	189,272	-37,909	-37,317	266,250	-37,740	-38,079	-37,964	-38,204	-37,434	-36,876	-37,014	-37,018	-36,561	-35,818	-35,509	-35,668	-35,499	-35,784	-34,539	-95,855	-122,442	-119,541	-111,326
Charges for mortality, surrenders and administration
33,127	31,888	31,299	31,777	31,201	30,986	29,877	30,254	29,827	25,707	28,938	29,150	28,887	28,481	27,732	27,976	27,603	27,239	27,019	27,015	26,977	26,392	26,229	26,398	26,081	25,707	25,051	25,213	24,849	24,790	23,227	24,886	22,534	28,133	26,904	28,036	28,808
Net realized (gains) losses on investments
-25,662	-2,707	646	377	9,288	-9,569	0	337	-3,042	-3,853	14	921	-469	517	621	-2,294	-607	3,553	-506	7,808	-366	-328	1,000	2,806	-540	2,340	693	7,236	3,286	-1,099	1,462	732	-643	24,522	11,585	1,929	-7,940
Change in fair value of derivatives
-1,567	4,471	-3,481	1,213	29	-9,532	-719	2,555	534	2,557	2,984	-287	2,753	2,674	954	-1,218	-1,582	1,390	-423	34	97	576	-155	606	326	309	93	128	425	8	7	-119	-155	14,063	22,999	9,775	18,103
Increase in liabilities for life insurance and other future policy benefits
21,183	17,196	14,714	17,086	17,507	16,674	22,804	20,044	18,264	19,687	24,520	25,289	17,993	21,953	24,958	23,454	20,715	37,437	12,575	10,278	16,184	18,146	17,604	16,326	13,923	14,121	13,952	15,865	14,126	15,436	8,650	17,822	13,173	13,494	9,124	8,606	8,361
Deferral of acquisition costs
9,155	13,670	9,280	10,889	11,739	16,495	9,032	10,951	11,293	12,590	9,911	11,304	10,604	11,274	10,302	11,036	9,941	12,533	9,989	10,339	10,354	11,186	9,805	10,374	10,044	11,648	8,997	10,592	12,215	12,574	8,993	12,276	13,709	26,835	23,273	29,364	30,331
Amortization of deferred acquisition costs and value of insurance in force
9,597	-1,714	10,413	9,402	7,774	12,172	3,881	10,004	10,314	9,032	-581	8,967	7,598	9,029	-510	12,155	10,224	9,689	9,934	9,629	9,054	11,625	9,237	7,816	8,493	7,594	7,710	10,942	6,830	10,067	15,255	9,329	8,815	59,577	32,673	7,710	39,824
Change in reinsurance recoverable
-688	1,421	1,736	-1,547	805	-1,711	2,727	-2,643	-2,454	4,609	-2,240	1,887	841	-1,754	1,266	831	1,049	1,053	-9,306	5,235	5,669	1,386	377	-1,142	625	3,532	-3,026	1,407	-150	3,815	-1,564	-4,406	5,708	9,643	-17,038	-6,935	2,135
Provision for deferred income taxes
-6,958	825	3,031	1,198	1,822	-3,136	2,374	-1,044	-3,146	-76,099	1,951	512	542	9,335	-1,919	780	1,213	11,658	-5,280	-1,574	2,036	7,082	-2,788	355	3,125	7,920	-3,806	3,132	-1,188	12,354	33,015	340	3,080	-22,894	-10,579	1,817	-4,209
Loss on sale of subsidiary
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-2,252	-54,143	0	0	0
Loss on debt redemption
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-33	-33,176	0	0	0
Other
20,186	-16,723	-12,720	17,927	1,923	-15,675	10,312	-13,227	1,865	-9,532	-268	-2,197	-4,590	-2,577	-3,576	-7,333	11,603	1,073	494	-4,901	281	1,668	-7,040	-3,512	18,421	-3,962	-1,111	213	12,537	-57,880	35,094	-9,088	49,628	58,268	-20,336	8,040	10,809
Net cash provided by operating activities
27,680	61,761	65,672	40,928	44,693	62,374	49,591	75,611	51,601	66,613	52,233	65,990	54,798	64,014	54,057	69,692	47,399	81,527	54,342	43,245	45,796	62,320	61,423	54,468	30,547	53,996	50,705	50,521	27,053	113,905	45,742	59,154	-12,322	24,294	133,341	103,686	98,105
Investing activities
Sales, maturities or repayments:
Fixed maturities - available for sale
120,845	175,679	175,137	186,186	128,274	135,002	103,053	213,797	138,254	175,497	150,968	186,905	106,257	94,499	155,514	186,822	102,822	144,037	149,738	198,902	123,134	138,226	170,854	120,873	81,293	151,716	167,179	174,564	226,857	174,095	172,122	162,209	144,641	343,328	331,693	304,941	287,393
Equity securities
699	288	10,024	5,085	0	-	-	-	-	712	240	8,184	744	647	1,314	2,971	600	1,301	1,300	11,900	420	480	280	880	200	1,840	2,835	490	7,645	5,336	445	767	6,312	0	2,505	0	0
Mortgage loans
35,295	27,162	25,584	24,783	24,603	17,528	14,819	26,478	10,383	22,405	11,296	17,560	11,024	19,466	27,318	25,634	9,007	9,588	8,587	9,997	14,257	8,901	16,889	9,572	8,272	16,602	24,724	13,243	9,646	14,019	28,647	8,271	20,607	25,332	20,731	20,214	21,570
Derivative instruments
9,451	6,458	1,887	5,193	2,121	3,551	4,291	4,781	4,131	4,166	3,162	2,840	3,052	1,678	1,234	10	65	821	1,125	875	1,078	1,064	265	178	253	187	56	122	141	161	0	0	0	31,056	-28,140	7,369	45,064
Policy loans
9,913	9,005	9,379	8,962	9,095	8,304	9,386	9,897	9,133	9,238	7,682	9,144	10,266	8,816	8,110	9,347	9,185	8,791	8,782	8,611	9,222	8,902	8,489	7,294	9,019	8,329	8,262	8,834	9,521	7,395	11,571	8,022	8,919	8,510	9,181	9,615	11,038
Securities and indebtedness of related parties
841	1,873	2,475	3,333	1,133	3,414	1,924	1,425	1,596	2,754	2,386	1,468	2,391	1,885	901	1,427	5,866	9,698	5,429	7,770	4,892	25	1,765	0	1,207	8,091	99	1,788	403	302	0	0	0	-	-	-	-
Other investments
1,333	2,461	736	1,740	1,210	1,883	1,424	2,586	938	150	0	7	7	171	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Acquisitions:
Fixed maturities - available for sale
203,333	238,128	231,194	217,862	128,578	91,972	83,934	240,667	288,677	232,025	163,730	175,310	118,948	219,032	281,888	224,910	103,354	190,679	246,164	255,212	179,351	207,144	216,342	192,085	161,976	130,635	166,772	361,139	235,009	237,777	253,153	310,230	284,947	250,013	369,817	584,092	565,554
Equity securities
2,149	2,184	1,453	2,023	11,069	1,648	516	894	1,389	1,590	0	0	1,102	1,798	-1,903	9,836	1,326	811	440	14,452	8,130	2,153	648	10,188	6,189	6,110	14,522	3,794	2,314	5,665	14,819	16,552	1,958	15	2,264	2,117	247
Mortgage loans
15,750	36,000	9,300	20,252	5,650	44,500	47,400	40,750	7,186	70,209	56,750	40,450	50,000	53,550	45,330	27,068	34,057	58,305	13,575	25,700	58,235	8,600	48,996	20,927	18,100	19,325	27,103	30,290	10,850	26,900	25,000	21,680	2,200	6,222	13,341	12,690	17,050
Derivative instruments
5,804	5,561	4,559	5,334	4,432	3,945	3,431	3,830	3,219	2,755	1,999	2,569	1,988	1,904	1,632	1,596	1,715	1,447	948	831	896	815	563	404	617	263	122	99	123	72	31	21	99	16,699	17,670	16,791	12,318
Policy loans
10,551	10,240	9,487	9,978	10,959	9,947	10,271	11,322	11,148	10,384	9,304	9,793	9,993	8,534	9,207	9,827	10,360	9,222	10,479	9,835	9,152	10,059	8,786	9,650	10,718	9,787	9,311	9,962	8,625	8,863	9,157	9,945	9,828	9,397	10,033	10,748	10,193
Securities and indebtedness of related parties
3,990	4,895	4,713	6,766	4,710	5,224	7,513	3,776	4,633	3,377	3,319	3,147	3,712	462	4,695	5,912	2,219	3,283	8,501	6,473	7,956	4,431	5,014	7,147	3,725	5,348	9,765	9,216	6,631	7,624	12,630	8,587	9,312	11,946	3,040	6,471	5,223
Other long-term investments
6,100	3,252	1,609	1,813	975	1,280	80	1,000	5,531	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Short-term investments, net change
17,715	-10,878	13,222	-1,994	-4,198	-9,856	10,428	-14,934	13,068	-8,392	-4,222	15,357	-2,084	7,388	-13,597	9,234	-14,928	10,937	-11,962	6,014	-25,323	4,397	-4,799	-18,606	-41,084	53,611	-6,322	-27,718	14,590	55,627	-9,808	-2,893	-10,166	19,546	2,990	-172,659	-156,716
Purchases and disposals of property and equipment, net
1,763	4,104	3,955	3,882	4,049	4,037	2,416	4,208	1,859	3,538	1,935	3,684	2,270	2,930	3,026	4,404	1,427	1,539	2,706	2,181	3,443	1,205	1,285	4,909	1,240	2,527	3,753	4,067	1,499	727	1,840	890	-35	371	1,507	1,565	1,565
Net cash provided by (used in) investing activities
-88,778	-69,919	-54,270	-30,634	212	24,024	-31,092	-32,549	-172,275	-100,564	-57,081	-23,485	-52,188	-168,436	-135,887	-66,576	-11,985	-101,987	-95,890	-82,643	-88,837	-81,206	-78,293	-87,907	-61,237	-40,841	-21,871	-189,821	-25,428	-151,262	-94,037	-185,743	-117,664	565,475	-83,302	-119,676	-90,369
Financing activities
Contract holder account deposits
271,542	168,344	121,585	181,144	135,844	143,237	122,494	141,511	261,240	176,238	94,660	146,791	116,760	169,119	111,927	192,147	127,190	109,408	113,277	166,896	196,491	150,522	134,113	143,328	180,472	111,505	128,078	206,139	119,533	91,604	115,287	224,981	197,828	270,194	267,018	396,454	393,377
Contract holder account withdrawals
170,003	128,027	138,024	167,731	143,456	207,467	111,836	186,900	124,978	107,320	94,024	151,308	87,929	86,757	80,231	82,967	94,709	98,337	77,834	110,412	128,679	89,913	95,278	99,816	111,788	96,805	89,897	101,539	96,673	87,014	76,800	96,777	100,598	407,838	370,262	322,561	290,651
Issuance of common stock, net of repurchases
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,456
Dividends paid
49,371	11,876	11,875	11,873	48,850	11,431	11,453	11,453	48,791	11,009	11,008	11,005	48,379	10,493	10,484	10,482	60,143	9,961	9,947	9,961	59,478	8,689	8,684	8,674	8,702	3,736	55,319	2,876	2,844	2,632	2,624	2,726	3,100	3,080	1,950	1,946	1,941
Proceeds from Issuance of Short-Term Debt
10,000	35,000	16,000	0	4,000	0	0	27,000	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Transfer from restricted debt defeasance trusts
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Repayments of short-term debt
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	15,000	0	0	0	0	-	-	-	-	-	-	-	-	0	0	0	174,258	50,000	0	0	0
Receipts related to noncontrolling interests, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3	-	9	19	14	-33	16	48	29	59	43	34	23	24	0	0	0	-	-	-	-
Excess tax deductions on stock-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	244	-	282	186	620	371	111	210	507	60	282	522	1,100	34	108	134	2,117	277	40	116	223
Issuance or repurchase of common stock, net
-762	47	65	-37	-5,421	-6,127	-2	-3,183	-5,840	51	124	53	128	480	355	47	958	907	-3,585	377	1,717	62	-1,882	-2,206	-3,977	1,077	-43,037	-1,388	-359	-15,844	-27,105	-133,171	2,867	-	-	-	-
Proceeds from (Payments for) Other Financing Activities
-61	-60	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	211,627	-	-	-	-
Net cash provided by (used in) financing activities
61,345	12,428	-12,249	-2,497	-57,883	-81,788	-27,779	-33,010	81,631	57,934	-10,248	-15,469	-19,420	72,619	21,671	98,982	-41,457	17,313	22,202	47,105	10,685	52,320	28,396	32,890	56,541	-12,840	-84,850	100,892	20,780	-13,828	8,866	-7,559	136,483	-413,771	-104,110	73,408	104,464
Increase (decrease) in cash and cash equivalents
247	-	-	-	-12,978	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash and Cash Equivalents, Period Increase (Decrease)
-	-	-	-	-	4,610	-9,280	10,052	-39,043	23,983	-15,096	27,036	-16,810	-31,803	-60,159	102,098	-6,043	-3,147	-19,346	7,707	-32,356	33,434	11,526	-549	25,851	315	-56,016	-38,408	22,405	-51,185	-39,429	-134,148	6,497	175,998	-54,071	57,418	112,200
Supplemental disclosures of cash flow information
Interest Paid, Excluding Capitalized Interest, Operating Activities
1,213	1,219	1,215	1,213	1,213	1,212	1,231	1,212	1,213	1,212	1,213	1,212	1,213	1,213	1,212	1,213	1,216	1,212	1,213	1,212	1,213	1,212	1,213	1,212	1,213	1,213	1,941	1,975	1,975	1,975	1,975	1,975	5,458	4,932	5,675	5,228	6,463
Cash (paid) received during the period for income taxes
-1,915	-2,706	0	-30	0	-978	-2,007	-15	-5	-6,045	-6,700	-3,604	2	-13,193	-5,700	-2,000	-1	-44,202	8,000	6,500	2,001	-33,503	1,700	6,996	2,005	12,500	1,500	5,000	2,001	-26,331	-70	-126	-1,430	19,130	13,145	31,008	-10,431
Non-cash operating activity:
Deferral of sales inducements
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	12,543	11,681	13,815	13,463
Non-cash investing and financing activity:
Non-cash refinancing of debt payable to affiliates
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-112,538	-	-	-	-
Stock repurchase obligation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0