Primerica, inc. (PRI)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11
Cash flows from operating activities:
Net income

72,469

93,557

96,223

97,446

79,165

86,544

85,136

86,699

65,715

168,442

66,637

63,106

52,070

56,874

58,038

59,326

45,176

47,947

49,351

49,172

43,401

45,465

41,595

49,272

45,080

37,200

43,190

43,490

38,845

40,271

45,599

46,180

41,756

37,202

35,098

37,620

47,271

Adjustments to reconcile net income to cash provided by (used in) operating activities:
Change in future policy benefits and other policy liabilities

63,975

91,208

63,781

77,110

65,733

78,829

75,767

42,865

69,052

90,036

76,981

67,981

71,124

78,278

61,827

54,415

62,000

75,071

45,462

74,752

47,672

57,502

93,170

52,694

54,542

46,852

69,807

31,428

65,701

68,928

60,422

42,736

70,976

150,247

27,757

-8,355

43,934

Deferral of policy acquisition costs

112,160

103,882

107,924

107,220

105,080

102,718

107,738

110,512

111,422

105,637

108,721

105,725

102,666

95,482

98,252

96,220

86,925

82,851

84,765

83,147

75,434

72,918

70,714

73,268

73,045

67,441

69,040

68,168

62,874

63,871

66,559

72,378

65,346

59,489

69,410

70,501

64,203

Amortization of deferred policy acquisition costs

70,311

67,279

63,883

58,762

64,628

66,184

59,535

53,846

60,165

56,305

53,384

47,860

51,850

53,305

45,428

38,720

43,129

44,335

40,797

36,382

36,213

39,544

36,944

32,697

35,193

35,627

32,192

30,112

31,252

34,628

29,234

28,205

26,531

30,185

26,645

23,975

23,229

Change in income taxes

15,481

3,029

-3,567

-10,829

6,180

-2,948

-710

-421

6,444

-24,310

12,131

215

9,805

-25,681

16,976

15,452

20,854

-25,487

3,827

8,946

18,576

-16,624

3,366

-557

14,905

-7,774

9,430

-10,388

2,309

-13,633

6,392

-5,449

1,723

-

-

-

-

Excess tax benefits on share-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,043

405

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Realized investment (gains) losses

-10,030

765

286

1,067

2,847

-1,651

-126

1,312

-1,656

1,079

22

104

134

1,465

-34

3,440

-783

-3,361

-258

597

1,284

-1,074

-281

831

263

899

-407

3,468

2,286

1,058

3,872

4,321

2,131

4,256

-178

2,035

327

Gain from sale of business, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-17

0

1,595

-

0

0

0

-

-

-

-

-

-

-

-

Increase (Decrease) in Income Taxes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

4,898

-18,971

5,897

Accretion and amortization of investments

-489

217

87

296

120

498

721

549

126

545

367

344

340

320

368

126

597

249

110

546

438

2,790

1,026

412

597

1,630

1,133

1,265

526

1,080

1,382

26

278

488

420

43

1,867

Depreciation and amortization

3,940

5,015

4,795

4,334

4,156

3,295

3,128

2,950

3,044

3,228

3,329

3,585

3,409

3,716

3,771

3,969

3,139

2,797

2,828

2,740

2,633

3,655

2,894

2,833

2,884

2,657

2,807

2,915

2,424

2,540

2,644

2,420

2,491

2,875

2,591

2,608

2,657

Change in reinsurance recoverables

-8,306

-2,825

-15,558

-23,652

54,860

-37,923

-8,618

-57,694

66,974

-33,261

35,531

-35,754

24,360

37,973

17,845

-11,763

28,825

16,718

-12,231

38,523

6,956

-3,085

69,598

-9,248

32,759

33,691

30,682

1,012

7,685

15,953

78,255

7,866

39,844

131,787

19,139

-30,069

11,554

Change in agent balances, due premiums and other receivables

-274

-19,873

8,687

15,241

7,910

-34,714

4,539

18,232

-2,440

-11,209

16,808

8,356

5,119

-16,091

11,715

11,451

12,994

-10,174

9,099

12,910

-456

-5,728

7,902

4,700

4,173

-9,854

4,811

6,455

6,829

-10,446

7,382

8,611

-4,785

-17,346

2,307

6,984

4,591

Trading securities sold, matured, or called (acquired), net

-2,024

-29,652

9,751

3,218

-12,918

2,366

7,135

5,716

-24,025

5,284

4,026

-2,812

-5,361

4,866

-4,259

-390

-2,268

1,165

1,376

-598

365

1,414

97

1,685

2,036

-1,817

1,165

-2,959

-1,654

9,304

11,795

10,832

3,807

9,985

7,117

10,042

-23,547

Share-based compensation

11,161

2,464

2,069

2,104

10,896

1,873

1,986

1,890

11,502

1,776

1,824

1,924

9,743

1,688

1,723

2,548

7,483

2,030

2,060

1,915

8,943

3,649

8,497

2,988

2,848

3,099

2,737

2,756

5,196

4,822

4,811

4,863

4,448

-781

6,606

6,741

5,320

Change in other operating assets and liabilities, net

10,730

-14,289

-737

13,309

-19,398

17,018

2,692

4,719

-26,863

2,437

-33,066

35,761

7,474

-29,642

-7,313

5,580

16,040

-23,392

7,078

17,070

10,809

-11,311

-23,405

38,935

7,316

-56,765

18,016

28,854

-499

67,013

-87,544

20,136

53,688

-34,827

84

13,574

19,011

Net cash provided by (used in) operating activities

131,522

164,182

136,246

118,664

66,421

192,787

125,031

115,915

44,334

181,745

89,929

67,323

52,547

127,855

61,223

70,029

35,320

123,259

57,138

20,516

63,338

105,852

61,026

32,714

37,740

97,135

38,053

-11,868

64,372

21,663

90,991

16,449

-4,770

73,885

19,530

-9,408

3,208

Available-for-sale investments sold, matured or called:
Fixed-maturity securities — sold

25,392

8,730

11,335

15,670

6,467

3,551

17,350

15,952

14,873

9,796

24,416

14,694

28,538

15,126

6,615

44,821

25,104

26,511

40,513

40,306

23,278

45,685

17,833

25,069

21,094

9,945

9,577

62,877

15,878

75,315

16,206

145,963

67,354

161,362

16,810

7,211

29,424

Fixed-maturity securities — matured or called

116,525

98,620

94,842

101,535

108,972

86,927

66,048

104,329

105,109

63,661

60,523

52,474

46,430

58,782

58,759

50,435

86,609

46,049

52,992

75,751

72,979

77,254

74,297

71,442

91,596

59,293

65,591

79,287

62,567

60,095

78,936

48,887

75,433

-

-

-

-

Equity securities — sold

-

0

0

27

3,109

-

-

-

-

3,646

1,563

553

9

-

-

-

-

194

2,780

261

1,659

2,163

0

0

188

1,506

1,696

2,850

148

863

719

1,246

0

11

0

2,942

84

Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities Debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

68,165

96,695

134,252

Fixed-maturity securities

132,681

188,946

159,737

198,122

86,301

180,360

92,391

166,222

187,853

130,283

85,195

109,510

105,464

157,408

95,382

77,718

55,886

169,000

62,740

79,453

122,264

106,917

98,773

106,706

113,508

152,544

78,306

43,096

34,958

121,953

160,944

101,730

107,467

131,314

61,352

91,720

176,073

Equity securities — acquired

59

80

352

91

375

278

113

61

69

94

94

92

120

1,609

88

887

99

88

85

84

625

5,408

1,067

297

5,106

2,548

368

47

46

48

2,546

46

3,040

34

37

35

38

Purchases of property and equipment and other investing activities, net

9,921

5,449

4,085

9,309

6,594

2,504

4,859

4,074

2,080

-1,213

1,771

3,060

3,134

2,259

731

2,918

7,761

1,475

968

3,321

1,635

1,455

1,852

2,686

1,491

5,345

2,557

7,228

8,688

6,327

4,770

-470

322

-

-

-

-

Proceeds from sale of business

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

3,000

-

0

0

0

-

-

-

-

-

-

-

-

Other, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,302

10

72

Cash collateral received (returned) on loaned securities, net

-173

11,210

3,934

21,047

-12,352

18,070

11,464

7,337

353

17,192

8,897

-22,549

-19,680

22,197

-3,942

-4,518

-15,901

11,738

-19,322

-8,276

-5,411

17,403

25,955

15,525

-19,242

-14,000

10,420

47,053

6,602

37,739

-33,703

-1,456

6,851

36,125

-22,141

22,747

-4,363

Sales (purchases) of short-term investments using securities lending collateral, net

-173

11,210

3,934

21,047

-12,352

18,070

11,464

7,337

353

17,192

8,897

-22,549

-19,680

22,197

-3,942

-4,518

-15,901

11,738

-19,322

-8,276

-5,411

17,403

25,955

15,525

-19,242

-14,000

10,420

47,053

6,602

37,739

-33,703

-1,456

6,851

36,125

-22,141

22,747

-4,363

Net cash provided by (used in) investing activities

-744

-87,125

-57,997

-82,040

25,278

-100,678

-13,846

-48,257

-70,020

-52,061

-558

-44,941

-33,741

-83,660

-29,260

17,030

47,967

-97,809

32,492

33,460

-26,608

11,322

-9,562

-13,178

-4,227

-89,693

-4,367

94,643

34,901

7,945

-72,399

94,790

31,958

103,755

22,284

15,083

-12,423

Dividends paid

16,530

14,162

14,323

14,517

14,628

10,859

10,917

11,086

11,278

9,019

9,122

8,798

8,882

8,411

8,510

8,151

8,295

7,892

8,042

8,356

8,517

6,463

6,645

6,666

6,738

6,138

6,126

6,385

6,409

5,321

4,312

3,091

2,013

2,011

2,274

2,270

757

Common stock repurchased

90,063

43,968

70,338

57,106

53,625

42,751

33,619

87,448

46,328

17,287

57,709

45,184

29,858

18,487

41,012

40,615

49,943

18,963

71,409

70,963

38,749

82,366

30,545

21,946

13,065

-14,793

0

97,995

3,078

87,581

9,124

159,245

1,634

-

-

-

-

Excess tax benefits on share-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

365

803

3,456

1,153

859

838

2,954

1,150

1,261

6,254

925

543

566

3,761

396

-

-

-

-

Tax withholdings on share-based compensation

5,614

169

340

13

6,664

582

892

1

5,236

30

207

2

6,495

213

0

717

3,040

1,574

25

35

6,041

80

149

26

6,122

-

-

-

-

-

-

-

-

-

-

-

-

Cash proceeds from stock options exercised

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

136

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payment of deferred financing costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

85

3,110

-64

4,683

-

-

-

-

Finance leases

67

70

71

70

70

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by (used in) financing activities

-112,274

-58,369

-85,072

-71,706

-74,987

-54,192

-45,428

-98,535

-62,842

-27,204

-67,038

-53,984

-45,235

-27,111

-49,522

-49,483

-61,278

-33,053

-79,111

-78,551

-49,715

-87,768

-36,941

-28,203

-22,971

-4,988

-4,865

-166,525

-8,562

-103,072

58,431

-158,511

-7,934

-197,145

-2,274

-6,380

-757

Effect of foreign exchange rate changes on cash

-2,295

442

-406

431

776

-1,157

341

-428

-849

64

586

339

215

-431

-209

-202

1,414

-664

-1,920

-87

-2,388

-885

-1,461

850

-1,293

-938

560

-675

-415

-143

738

-202

204

1,556

436

-521

-789

Change in cash and cash equivalents

16,209

19,130

-7,229

-34,651

17,488

36,760

66,098

-31,305

-89,377

102,544

22,919

-31,263

-26,214

16,653

-17,768

37,374

23,423

-8,267

8,599

-24,662

-15,373

28,521

13,062

-7,817

9,249

1,516

29,381

-84,425

90,296

-73,607

77,761

-47,474

19,458

-17,949

39,976

-1,226

-10,761