Security national financial corporation (SNFCA)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09
Cash flows from operating activities:
Net earnings

10,893

21,686

14,112

12,188

13,351

8,216

7,585

16,712

1,298

-430

3,773

Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities
Gains on investments and other assets

728

23,941

-2,948

-176

2,401

1,918

1,418

1,424

2,464

1,615

1,223

Other than temporary impairments on investments

-

-

774

-270

-605

-164

336

1,207

840

673

-326

Depreciation

5,183

5,456

6,280

5,579

5,023

4,389

-

-

2,814

2,917

2,801

Depreciation and amortization

-

-

-

-

-

-

4,160

2,877

-

-

-

Provision for loan losses and doubtful accounts

1,202

377

1,154

1,188

524

743

-584

-963

1,644

-198

2,804

Net amortization of deferred fees and costs, premiums and discounts

-887

-1,110

96

653

269

238

103

-762

-539

-19

-740

Provision for deferred income taxes

-1,857

-2,605

-7,752

6,130

4,826

3,856

416

953

524

-1,197

1,570

Policy and pre-need acquisition costs deferred

-19,176

-19,544

-19,005

-16,943

-13,061

-10,159

-9,666

-7,885

-6,806

-6,956

-7,754

Policy and pre-need acquisition costs amortized

13,787

10,807

7,498

6,829

4,364

5,590

3,841

4,234

4,624

3,710

6,035

Value of business acquired amortized

847

823

981

1,173

1,277

1,302

1,340

1,215

1,145

720

1,124

Mortgage servicing rights, additions

4,194

3,922

-6,085

-8,603

-6,217

-3,741

-2,494

-2,797

-

-

-

Amortization of mortgage servicing rights

7,055

5,282

3,580

2,410

1,372

750

-

-

-

-

-

Amortization of mortgage servicing rights

-

-

-

-

-

-

447

-

-

-

-

Stock based compensation expense

256

237

395

343

387

391

88

251

253

520

-

Benefit plans funded with treasury stock

695

1,480

1,534

1,429

1,197

899

727

319

283

438

-

Future life and other benefits

-

-

-

-

15,078

13,930

19,182

20,508

22,262

18,357

15,423

Change in fair value of loans held for sale

-2,498

-3,736

-4,180

-

-

-

-

-

-

-

-

Originations of loans held for sale

2,606,839

2,194,607

-2,545,755

-3,098,710

-

-

-

-

-

-

-

Proceeds from sales of loans held for sale

2,580,875

2,259,145

2,671,097

3,246,127

-

-

-

-

-

-

-

Net gains on sales of loans held for sale

-80,666

-74,426

-105,368

-137,682

-

-

15,668

-18,807

-15,144

-23,957

-19,383

Change in assets and liabilities:
Loans originated for sale

-

-

-

-

-2,861,404

-2,044,909

-

-

-

-

-

Proceeds from loans sold

-

-

-

-

2,933,300

2,102,740

-

-

-

-

-

Net gains on loans sold

-

-

-

-

-131,130

-93,144

-

-

-

-

-

Increase (Decrease) in Assets Held-for-sale

358

64

86

108

67

-216

-36

26

-9

-108

-361

Future policy benefits and unpaid claims

18,394

21,710

22,815

17,989

-

-

-

-

-

-

-

Increase (Decrease) in Other Current Assets and Liabilities, Net

1,695

3,830

-892

-5,125

4,456

-1,589

-3,046

6,751

-3,860

-7,107

11,831

Net cash provided by (used in) operating activities

-75,602

7,009

44,318

-

-

-

-

-

-

-

-

Net cash provided by (used in) operating activities

-

-

-

35,535

-28,113

-12,463

36,651

22,416

6,865

-14,250

17,172

Cash flows from investing activities:
Purchases of fixed maturity securities

110,601

37,488

-61,232

11,386

22,604

3,449

22,849

11,365

50,566

8,251

12,897

Calls and maturities of fixed maturity securities

26,624

32,993

15,773

15,343

11,952

11,850

8,518

9,601

21,631

27,878

22,610

Purchases of equity securities

3,264

3,354

-5,301

4,980

9,336

5,996

2,807

1,685

4,574

5,462

5,640

Sales of equity securities

2,639

2,886

9,430

4,523

6,559

3,851

4,528

3,028

4,161

5,014

5,788

Purchases of short-term investments

-

-

-32,865

18,228

47,160

18,587

19,827

51,823

70,895

9,590

20,784

Sales of short-term investments

-

-

60,425

12,943

57,188

3,663

48,617

17,830

66,582

14,115

18,923

Net changes in restricted assets

-1,254

-241

-310

981

-

-

-

-

-

-

-

Net changes in perpetual care trusts

299

1,207

-245

-

-

-

-

-

-

-

-

Purchase of restricted assets

-

-

-

-

40

2,628

-2,777

4,436

-473

441

-1,552

Net changes in perpetual care trusts

-

-

-

1,082

267

230

-

-

-

-

-

Change in assets for perpetual care trusts

-

-

-

-

-

-

255

265

266

282

-

Changes in assets for perpetual care trusts

-

-

-

-

-

-

-

-

-

-

230

Amount received for perpetual care trusts

-

-

-

-

59

140

113

169

129

97

108

Mortgage loans held for investment, other investments and policy loans made

572,171

505,060

-455,821

469,593

372,334

286,974

160,737

117,135

127,867

102,328

89,298

Payments received for mortgage loans held for investment, other investments and policy loans

556,352

535,354

433,033

446,242

371,254

267,763

133,260

131,565

103,865

97,675

83,312

Purchase of property and equipment

1,839

1,282

-911

3,566

3,632

1,520

3,570

3,022

765

859

736

Sale of property and equipment

54

2,016

24

47

2,899

894

-33

-30

-2,296

-

-2

Purchase of real estate

8,572

29,193

-14,751

26,634

16,725

19,317

26,749

143

441

1,813

801

Sale of real estate

11,614

68,875

13,784

6,093

13,540

7,269

3,352

6,886

2,605

-

1,965

Cash received for reinsurance assumed

158,358

0

-

-

-

-

-

-

-

-

-

Cash paid for purchase of subsidiaries, net of cash acquired

-20,141

-3,405

0

-

-

-

-

-

-

-

-

Sale of real estate

-

-

-

-

-

-

-

-

-

6,424

-

Cash received from reinsurance

-

-

-

-

24,020

13,553

-

-

-

-

-

Cash received from reinsurance

-

-

-

-

-

-

2,466

34,485

12,990

-

-

Cash paid for purchase of subsidiaries, net of cash acquired

-

-

-

-4,328

-

-15,011

-

-180

-

-

-

Net cash provided by (used in) investing activities

38,099

63,306

-38,966

-55,590

15,372

-44,727

-33,129

13,538

-40,641

22,176

3,875

Cash flows from financing activities:
Investment contract receipts

12,141

11,571

12,213

11,349

10,172

10,051

9,385

8,939

7,967

8,428

9,101

Investment contract withdrawals

16,911

15,356

-14,912

13,620

12,273

14,519

14,866

13,915

13,910

14,372

13,920

Proceeds from stock options exercised

863

57

9

116

33

74

252

18

-

-

-

Purchase of treasury stock

-1,539

-215

-382

-

-

-

-

-

-

-

-

Purchase of treasury stock

-

-

-

-

-181

-

-

-

-

-

-

Repayment of bank and other loans

236,790

133,123

-2,796

1,680

1,967

2,357

2,292

1,534

1,957

1,889

1,633

Proceeds from borrowing on bank loans

196,610

162,653

19,660

14,500

13,873

13,115

13,314

241

3,615

-

4,955

Net change in warehouse line borrowings for loans held for sale

69,928

-717

-11,585

-8,325

12,282

43,479

-

-

-

-

-

Net change in line of credit borrowings

0

1,250

0

-

-

-

-

-

-

-

-

Change in line of credit borrowings

-

-

-

-

-

-

4,608

11,791

-16,400

-

-

Net cash provided by financing activities

24,301

26,119

2,207

18,990

21,938

49,843

1,186

-18,042

12,114

-7,832

-1,497

Net change in cash, cash equivalents, restricted cash and restricted cash equivalents

-13,201

96,434

7,559

-1,065

9,197

-7,347

4,708

17,911

-21,660

92

19,549

Supplemental Cash Flow Information
Interest Paid, Including Capitalized Interest, Operating and Investing Activities

7,284

6,878

5,976

-

4,347

2,901

-

-

-

-

-

Income taxes

-

-

-

2,667

2,716

408

-

-

-

-

-

Cash paid during the year for interest

-

-

-

5,119

-

-

-

-

-

-

-

Cash paid during the year for income taxes (net of refunds)

4,861

5,701

581

-

-

-

-

-

-

-

-

Non Cash Operating, Investing and Financing Activities:
Transfer of loans held for sale to mortgage loans held for investment

31,881

10,827

39,932

12,578

-

2,282

-

-

-

-

-

Right-of-use assets obtained in exchange for operating lease liabilities

16,544

0

-

-

-

-

-

-

-

-

-

Mortgage loans held for investment foreclosed into real estate held for investment

1,704

670

1,576

-

3,246

981

3,930

17,019

9,228

12,985

24,441

Accrued real estate construction costs and retainage

590

214

258

7,358

-

-

-

-

-

-

-

Right-of-use assets obtained in exchange for finance lease liabilities

252

0

-

-

-

-

-

-

-

-

-

Transfer of Cemetery Land and Improvements to Property and Equipment

3,261

0

643

-

-

-

-

-

-

-

-

Mortgage loans held for investment foreclosed into real estate held for investment

-

-

-

2,075

-

-

-

-

-

-

-

Mortgage loans held for investment foreclosed into receivables

155

0

-

-

-

-

-

-

-

-

-