National western life group, inc. (NWLI)
CashFlow / TTM
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15
Cash flows from operating activities:
Net Income (Loss) Attributable to Parent

89,356

131,616

115,659

131,311

130,081

116,758

134,569

120,741

113,758

110,421

94,446

106,368

107,171

100,892

109,271

91,757

94,329

98,396

0

0

0

Adjustments to reconcile net earnings to net cash from operating activities:
Universal life and annuity contract interest

186,388

295,330

153,239

217,938

218,789

136,055

320,473

304,128

325,308

437,019

368,660

328,637

309,266

248,390

241,764

190,247

176,879

176,901

0

0

0

Surrender charges and other policy revenues

32,310

32,909

34,317

34,975

36,199

37,138

36,808

37,631

38,781

42,061

43,555

56,614

51,300

44,828

42,146

23,973

22,395

20,493

0

0

0

Realized (gains) losses on investments

5,097

6,241

6,543

9,320

12,441

8,423

9,440

9,238

12,789

14,763

13,386

16,739

13,274

13,070

11,749

7,136

8,612

7,209

0

0

0

Accretion/amortization of discounts and premiums, investments

-2,624

-2,264

-1,460

-1,088

57

424

675

652

274

281

-81

-41

37

176

-567

-427

-506

-525

0

0

0

Depreciation and amortization

9,700

11,270

11,241

11,357

13,259

11,825

11,395

10,975

10,552

10,005

9,613

9,007

8,546

8,057

6,493

5,328

4,131

2,987

0

0

0

Increase (decrease) in estimated credit losses on investments

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

(Increase) decrease in value of equity securities

-3,716

4,051

596

656

703

-1,789

254

-107

-541

0

0

0

0

-

-

-

-

-

-

-

-

(Increase) decrease in value of derivatives

-25,425

123,207

-52,458

13,928

6,393

-80,004

119,904

95,352

117,275

222,875

158,609

132,591

102,471

28,364

16,441

-55,487

-66,364

-61,750

0

0

0

(Increase) decrease in deferred policy acquisition and sales inducement costs, and value of business acquired

-65,515

-69,176

-65,671

-64,827

-52,148

-43,479

-33,304

-21,871

-22,224

-21,554

-18,302

-18,516

-9,114

-9,206

-11,551

-13,987

-8,296

-120

0

0

0

(Increase) decrease in accrued investment income

-9,870

-9,157

-8,562

-6,240

-251

-480

-1,975

645

-2,198

-2,427

1,801

-929

-58

-374

518

-475

495

3,492

0

0

0

(Increase) decrease in other assets

1,152

12,341

-6,701

754

223

6,068

11,496

11,533

12,014

6,769

3,912

-233

2,411

-167

10,034

9,364

5,514

12,929

0

0

0

Increase (decrease) in liabilities for future policy benefits

20,891

13,758

6,052

-13,094

-15,844

-12,474

-10,488

2,335

6,117

7,694

12,196

16,269

12,530

8,988

8,777

9,135

13,014

12,256

0

0

0

Increase (decrease) in other policyholder liabilities

-14,230

-21,955

-13,682

-5,481

-2,169

7,685

-7,543

-12,909

-15,565

-15,382

-13,015

-3,049

-1,524

-11,871

3,484

5,523

810

16,041

0

0

0

Increase (decrease) in Federal income tax liability

-14,564

21,580

-13,453

3,732

11,930

-20,635

9,863

622

-29,043

1,912

-17,007

-24,331

20,804

13,301

28,516

17,484

-2,553

-15,848

0

0

0

Increase (decrease) in deferred Federal income tax

500

25,294

-4,256

-1,765

-5,751

-26,438

21,177

16,579

17,344

40,227

14,805

12,043

9,403

-10,152

-19,557

-34,196

-40,226

-40,017

0

0

0

Increase (decrease) in other liabilities

-3,757

876

-10,186

-14,700

-15,026

-12,728

11,044

14,302

18,958

27,456

19,103

19,794

11,199

7,925

-3,898

-10,061

-6,222

-2,798

0

0

0

Net cash provided by operating activities

345,286

329,029

346,522

345,350

343,154

326,623

304,838

290,542

256,571

276,130

256,311

254,427

298,268

309,143

345,194

373,512

358,764

346,224

0

0

0

Cash flows from investing activities:
Debt securities held to maturity

-

-

-

-

-

-

-

-

-

0

975

975

975

975

0

0

0

0

0

0

0

Debt securities available for sale

14,041

87,298

95,528

108,626

101,355

28,098

13,098

0

0

22,184

21,220

29,341

29,614

15,123

16,279

9,038

16,144

14,203

0

0

0

Other investments

32,717

36,345

39,582

39,224

19,513

6,460

7,352

11,916

10,148

10,008

6,574

1,716

3,313

5,116

5,449

7,396

5,487

3,684

0

0

0

Proceeds from maturities and redemptions of:
Debt securities held to maturity

751,000

700,759

563,619

472,259

461,886

437,311

547,796

533,239

483,491

490,841

403,693

449,576

470,923

404,802

435,847

406,586

428,093

475,151

0

0

0

Debt securities available for sale

332,783

295,026

217,180

228,019

244,287

195,874

234,467

249,269

224,761

288,208

278,321

235,838

188,276

190,150

184,576

205,916

293,956

270,044

0

0

0

Equity securities

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

Derivatives, index options

102,694

52,768

59,394

106,821

134,757

191,031

228,661

224,964

230,330

219,865

159,873

120,274

68,614

21,848

29,488

37,521

75,690

100,050

0

0

0

Property and equipment

-

-

-

-

-

8

301

301

3,023

3,024

4,259

4,259

1,538

1,528

0

0

0

-

-

-

-

Purchases of:
Debt securities held to maturity

313,074

257,928

242,293

232,789

350,047

472,224

584,443

617,155

496,308

570,716

529,739

495,239

525,805

383,722

357,463

460,910

613,779

810,384

0

0

0

Debt securities available for sale

260,059

187,570

164,638

180,701

158,929

264,999

328,089

336,618

373,154

291,427

309,073

341,707

342,942

347,495

335,502

340,618

425,870

529,242

0

0

0

Equity securities

1,568

1,342

1,741

2,331

2,328

2,442

1,678

864

1,536

1,160

0

0

0

-

-

-

-

-

-

-

-

Derivatives, index options

81,520

77,381

80,611

78,838

82,400

86,692

83,074

83,686

80,237

75,330

73,214

72,869

72,975

74,658

77,756

84,326

87,093

86,927

0

0

0

Other investments

11,853

7,315

10,047

19,681

15,126

8,314

5,583

729

427

331

2,309

6,462

7,988

29,505

30,435

27,061

25,346

4,250

0

0

0

Property and equipment

2,825

2,844

2,565

1,152

662

3,138

10,489

11,871

11,625

9,116

51,911

50,447

50,258

50,214

0

0

0

-

-

-

-

Payment to acquire businesses, net of cash acquired

1

189,121

189,121

189,121

189,120

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Net change in short-term investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

0

0

0

Principal payments on mortgage loans

34,733

47,755

25,169

35,890

46,965

35,159

34,076

24,737

10,267

25,901

25,373

24,900

24,114

18,469

30,512

77,339

86,494

80,047

0

0

0

Cost of mortgage loans acquired

111,145

121,420

52,825

53,236

47,131

29,884

46,085

37,564

51,149

59,448

66,931

77,790

77,342

84,561

89,227

75,389

52,732

38,471

0

0

0

Decrease (increase) in policy loans

-3,126

-2,844

-2,330

-3,576

-2,481

-1,681

-2,992

-2,296

-2,254

-2,294

-1,752

-2,688

-2,719

-3,258

-2,393

-1,346

-3,389

-1,688

0

0

0

Other, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Net cash provided by (used in) investing activities

489,049

377,874

258,961

236,566

165,500

27,929

9,302

-41,765

-50,162

54,797

-118,004

-107,073

-287,903

-309,565

-200,811

-312,417

-280,578

-524,407

0

0

0

Cash flows from financing activities:
Deposits to account balances for universal life and annuity contracts

430,765

405,236

410,339

431,054

497,822

560,583

624,702

684,851

701,931

728,873

768,030

778,974

834,912

847,147

865,529

895,551

910,193

918,574

0

0

0

Return of account balances on universal life and annuity contracts

1,003,461

989,980

999,239

998,191

997,126

1,001,224

954,293

916,679

913,224

892,135

911,659

909,612

897,553

899,961

917,755

933,171

916,966

910,403

0

0

0

Borrowings under line of credit agreement

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Principal payments on line of credit borrowings

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Issuance of common stock under stock option plan

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Net cash provided by (used in) financing activities

-573,969

-586,017

-590,173

-568,410

-500,577

-441,914

-330,864

-233,101

-212,566

-164,535

-144,902

-131,911

-63,914

-54,087

-53,499

-38,893

-8,046

6,898

0

0

0

Effect of foreign exchange

-87

663

818

777

935

1,714

1,545

1,775

1,595

-15

-133

-356

-536

-251

47

69

327

214

0

0

0

Net increase (decrease) in cash, cash equivalents, and restricted cash

260,279

121,549

16,128

14,283

9,012

-85,648

-15,179

17,451

-4,562

166,377

-6,728

15,087

-54,085

-54,760

90,931

22,271

70,467

-171,071

0

0

0

SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Cash paid (received) during the period for:
Interest

271

271

262

49

49

40

40

41

40

40

41

40

41

44

33

33

33

30

0

0

0

Income taxes

37,153

37,153

34,277

23,672

10,920

19,202

31,828

39,423

75,292

72,449

83,515

90,949

43,683

28,243

5,032

-8,520

8,880

24,127

0

0

0

Noncash operating activities:
Net deferral and amortization of sales inducements

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferral of sales inducements

-

-

-

-

-

-

-

0

12,142

-

10,170

6,240

6,738

7,620

8,829

9,325

8,571

10,854

0

0

0

Noncash investing and financing activities:
Contingent consideration to acquire businesses

376

4,076

3,965

3,871

3,700

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-