| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 |
|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||
Net Income (Loss) Attributable to Parent | ||||||
131,616 | 116,758 | 110,421 | 100,892 | 98,396 | 105,588 | 96,247 |
Adjustments to reconcile net earnings to net cash from operating activities: | ||||||
Universal life and annuity contract interest | ||||||
295,330 | 136,055 | 437,019 | 248,390 | 176,901 | 298,259 | 454,594 |
Surrender charges and other policy revenues | ||||||
32,909 | 37,138 | 42,061 | 44,828 | 20,493 | 12,913 | 14,622 |
Realized (gains) losses on investments | ||||||
6,241 | 8,423 | 14,763 | 13,070 | 7,209 | 11,605 | 8,653 |
Accretion/amortization of discounts and premiums, investments | ||||||
-2,264 | 424 | 281 | 176 | -525 | 653 | 2,019 |
Depreciation and amortization | ||||||
11,270 | 11,825 | 10,005 | 8,057 | 2,987 | 3,421 | 4,674 |
(Increase) decrease in value of equity securities | ||||||
4,051 | -1,789 | 0 | 0 | - | - | - |
(Increase) decrease in value of derivatives | ||||||
123,207 | -80,004 | 222,875 | 28,364 | -61,750 | 68,616 | 225,899 |
(Increase) decrease in deferred policy acquisition and sales inducement costs, and value of business acquired | ||||||
-69,176 | -43,479 | -21,554 | -9,206 | -120 | 18,336 | 26,165 |
(Increase) decrease in accrued investment income | ||||||
-9,157 | -480 | -2,427 | -374 | 3,492 | 760 | 2,312 |
(Increase) decrease in other assets | ||||||
12,341 | 6,068 | 6,769 | -167 | 12,929 | 867 | 17,343 |
Increase (decrease) in liabilities for future policy benefits | ||||||
13,758 | -12,474 | 7,694 | 8,988 | 12,256 | 7,698 | 9,664 |
Increase (decrease) in other policyholder liabilities | ||||||
-21,955 | 7,685 | -15,382 | -11,871 | 16,041 | -3,365 | -5,974 |
Increase (decrease) in Federal income tax liability | ||||||
21,580 | -20,635 | 1,912 | 13,301 | -15,848 | -6,731 | 15,722 |
Increase (decrease) in deferred Federal income tax | ||||||
25,294 | -26,438 | 40,227 | -10,152 | -40,017 | -22,538 | 23,654 |
Increase (decrease) in other liabilities | ||||||
876 | -12,728 | 27,456 | 7,925 | -2,798 | -394 | -660 |
Other, net | ||||||
- | - | - | - | - | - | 1 |
Net cash provided by operating activities | ||||||
329,029 | 326,623 | 276,130 | 309,143 | 346,224 | 313,264 | 253,599 |
Cash flows from investing activities: | ||||||
Debt securities held to maturity | ||||||
0 | 0 | 0 | 975 | 0 | 0 | 1,980 |
Debt securities available for sale | ||||||
87,298 | 28,098 | 22,184 | 15,123 | 14,203 | 29,730 | 10,246 |
Other investments | ||||||
36,345 | 6,460 | 10,008 | 5,116 | 3,684 | 3,399 | 11,024 |
Proceeds from maturities and redemptions of: | ||||||
Debt securities held to maturity | ||||||
700,759 | 437,311 | 490,841 | 404,802 | 475,151 | 445,679 | 1,231,796 |
Debt securities available for sale | ||||||
295,026 | 195,874 | 288,208 | 190,150 | 270,044 | 330,127 | 287,858 |
Derivatives, index options | ||||||
52,768 | 191,031 | 219,865 | 21,848 | 100,050 | 203,349 | 172,112 |
Property and equipment | ||||||
0 | 8 | 3,024 | 1,528 | 0 | 0 | - |
Purchases of: | ||||||
Debt securities held to maturity | ||||||
257,928 | 472,224 | 570,716 | 383,722 | 810,384 | 773,743 | 1,775,153 |
Debt securities available for sale | ||||||
187,570 | 264,999 | 291,427 | 347,495 | 529,242 | 410,127 | 256,855 |
Equity securities | ||||||
1,342 | 2,442 | 1,160 | 679 | - | - | - |
Derivatives, index options | ||||||
77,381 | 86,692 | 75,330 | 74,658 | 86,927 | 73,318 | 61,624 |
Other investments | ||||||
7,315 | 8,314 | 331 | 29,505 | 4,250 | 376 | 15 |
Property and equipment | ||||||
2,844 | 3,138 | 9,116 | 50,214 | 0 | 0 | - |
Payment to acquire businesses, net of cash acquired | ||||||
189,121 | 0 | 0 | - | - | - | - |
Principal payments on mortgage loans | ||||||
47,755 | 35,159 | 25,901 | 18,469 | 80,047 | 20,506 | 43,856 |
Cost of mortgage loans acquired | ||||||
121,420 | 29,884 | 59,448 | 84,561 | 38,471 | 37,104 | 34,129 |
Decrease (increase) in policy loans | ||||||
-2,844 | -1,681 | -2,294 | -3,258 | -1,688 | -2,324 | -5,580 |
Net cash provided by (used in) investing activities | ||||||
377,874 | 27,929 | 54,797 | -309,565 | -524,407 | -259,554 | -363,324 |
Cash flows from financing activities: | ||||||
Dividends on common stock | ||||||
1,273 | 1,273 | 1,273 | 1,273 | 1,273 | 1,273 | 1,273 |
Deposits to account balances for universal life and annuity contracts | ||||||
405,236 | 560,583 | 728,873 | 847,147 | 918,574 | 985,003 | 982,305 |
Return of account balances on universal life and annuity contracts | ||||||
989,980 | 1,001,224 | 892,135 | 899,961 | 910,403 | 880,658 | 875,661 |
Borrowings under line of credit agreement | ||||||
75,000 | 0 | 0 | - | - | - | - |
Principal payments on line of credit borrowings | ||||||
75,000 | 0 | 0 | - | - | - | - |
Issuance of common stock under stock option plan | ||||||
- | - | - | - | 0 | 350 | 0 |
Net cash provided by (used in) financing activities | ||||||
-586,017 | -441,914 | -164,535 | -54,087 | 6,898 | 103,422 | 105,371 |
Effect of foreign exchange | ||||||
663 | 1,714 | -15 | -251 | 214 | -913 | 652 |
Net increase (decrease) in cash, cash equivalents, and restricted cash | ||||||
121,549 | -85,648 | 166,377 | -54,760 | -171,071 | 156,219 | -3,702 |
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | ||||||
Cash paid (received) during the period for: | ||||||
Interest | ||||||
271 | 40 | 40 | 44 | 30 | 40 | 50 |
Income taxes | ||||||
37,153 | 19,202 | 72,449 | 28,243 | 24,127 | 36,123 | 57,350 |
Noncash operating activities: | ||||||
Net deferral and amortization of sales inducements | ||||||
17,195 | 12,753 | 10,650 | - | - | - | - |
Deferral of sales inducements | ||||||
- | - | - | 7,620 | 10,854 | 8,003 | 803 |
Noncash investing and financing activities: | ||||||
Contingent consideration to acquire businesses | ||||||
4,076 | 0 | 0 | - | - | - | - |
Exchange of debt securities available for sale for equity securities | ||||||
2,452 | 0 | 0 | - | - | - | - |
Exchange of debt securities available for sale | ||||||
782 | 0 | 0 | - | - | - | - |