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Schedule II | 12 Months Ended
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Dec. 31, 2022
Condensed Financial Information Disclosure [Abstract] |
Schedule II |
Schedule II Condensed Financial Information of Registrant CITIZENS, INC. (Parent Company) Balance Sheets
December 31, (In thousands) | 2022 |  | 2021
Assets |  |  |
Investment in subsidiaries (1) | $ | (38,524) |  |  | 271,639 |
Fixed maturity securities available-for-sale, at fair value | 28,566 |  |  | 33,724 |
Equity securities, at fair value | 770 |  |  | 1,466 |
Mortgage loans on real estate | — |  |  | 1,000 |
Short-term investments | 1,241 |  |  | — |
Cash | 2,163 |  |  | 3,399 |
Accrued investment income | 342 |  |  | 439 |
Accounts receivable from subsidiaries (1) | 5,126 |  |  | 5,832 |
Property and equipment, net | 10,387 |  |  | 11,564 |
Other assets | 1,715 |  |  | 3,049 |
Total assets | $ | 11,786 |  |  | 332,112 |
Liabilities and Stockholders' Equity |  |  |
Liabilities: |  |  |
Accrued expense and other liabilities | $ | 10,743 |  |  | 11,541 |
Total liabilities | 10,743 |  |  | 11,541 |
Stockholders' equity: |  |  |
Common stock: |  |  |
Class A | 268,147 |  |  | 265,561 |
Class B | 3,184 |  |  | 3,184 |
Accumulated deficit | (52,203) |  |  | (45,565) |
Unrealized investment gains (losses) on securities held by parent and subsidiaries, net of tax | (195,279) |  |  | 117,492 |
Treasury stock | (22,806) |  |  | (20,101) |
Total stockholders' equity | 1,043 |  |  | 320,571 |
Total liabilities and stockholders' equity | $ | 11,786 |  |  | 332,112 |
(1) Eliminated in consolidation. Negative amount due to unrealized losses on fixed maturity securities during at December 31, 2022. Note to Schedule II: Citizens, Inc.'s investments in consolidated subsidiaries are stated at cost plus equity in undistributed income of consolidated subsidiaries and unrealized gains (losses) on investments held by consolidated subsidiaries. The Company includes in its Statement of Operations and Comprehensive Income (Loss) dividends from its subsidiaries and equity in income (loss) of consolidated subsidiaries, which represents the net income (loss) of each of its wholly-owned subsidiaries.
Schedule II, Continued Condensed Financial Information of Registrant CITIZENS, INC. (Parent Company) Statements of Operations and Comprehensive Income (Loss)
Years ended December 31, (In thousands) | 2022 |  | 2021 |  |
Comprehensive income (loss): |  |  |  |  |
Revenues: |  |  |  |  |
Management service fees (1) | $ | 35,413 |  |  | 33,311 |  |  |
Investment income | 6,124 |  |  | 1,063 |  |  |
Other | 6 |  |  | (37) |  |  |
Investment related gains (losses), net | (188) |  |  | 1,197 |  |  |
Total revenues | 41,355 |  |  | 35,534 |  |  |
Expenses: |  |  |  |  |
General expenses | 38,926 |  |  | 37,977 |  |  |
Taxes, licenses and fees | 149 |  |  | 198 |  |  |
Total expenses | 39,075 |  |  | 38,175 |  |  |
Income (loss) before federal income tax expense (benefit) and equity in income (loss) of consolidated subsidiaries | 2,280 |  |  | (2,641) |  |  |
Federal income tax expense (benefit) | (571) |  |  | (1,661) |  |  |
Income (loss) before equity in income (loss) of consolidated subsidiaries | 2,851 |  |  | (980) |  |  |
Equity in income (loss) of consolidated subsidiaries | (9,489) |  |  | 37,767 |  |  |
Net income (loss) | (6,638) |  |  | 36,787 |  |  |
Other comprehensive income (loss) | (312,771) |  |  | (10,763) |  |  |
Total comprehensive income (loss) | $ | (319,409) |  |  | 26,024 |  |  |
(1) Eliminated in consolidation. Note to Schedule II: Citizens, Inc.'s investments in consolidated subsidiaries are stated at cost plus equity in undistributed income of consolidated subsidiaries and unrealized gains (losses) on investments held by consolidated subsidiaries. The Company includes in its Statement of Operations and Comprehensive Income (Loss) dividends from its subsidiaries and equity in income (loss) of consolidated subsidiaries, which represents the net income (loss) of each of its wholly-owned subsidiaries.
Schedule II, Continued Condensed Financial Information of Registrant CITIZENS, INC. (Parent Company) Statements of Cash Flows
Years ended December 31, (In thousands) | 2022 |  | 2021 |  |
Cash flows from operating activities: |  |  |  |  |
Net income (loss) | $ | (6,638) |  |  | 36,787 |  |  |
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: |  |  |  |  |
Investment related gains (losses), net | 188 |  |  | (1,197) |  |  |
Equity in loss (income) of consolidated subsidiaries | 9,489 |  |  | (37,767) |  |  |
Change in accrued expenses and other liabilities | 639 |  |  | (11,458) |  |  |
Change in federal income tax payable | (10,379) |  |  | (2,683) |  |  |
Deferred federal income tax expense (benefit) | 1,065 |  |  | 227 |  |  |
Amortization of premiums and discounts on investments | 281 |  |  | 473 |  |  |
Depreciation | 224 |  |  | 239 |  |  |
Change in accrued investment income | 97 |  |  | 32 |  |  |
Stock-based compensation | 461 |  |  | 646 |  |  |
Decrease (increase) in receivable from subsidiaries and other assets | 705 |  |  | (921) |  |  |
Other, net | 188 |  |  | 151 |  |  |
Net cash provided by (used in) operating activities | (3,680) |  |  | (15,471) |  |  |
Cash flows from investing activities: |  |  |  |  |
Purchases of fixed maturity securities, available-for-sale | (11,232) |  |  | (2,678) |  |  |
Maturities and calls of fixed maturity securities, available-for-sale | 9,721 |  |  | 7,548 |  |  |
Sales of fixed maturity securities, available-for-sale | 4,314 |  |  | 6,952 |  |  |
Sales of property and equipment | 2 |  |  | 14 |  |  |
Sale of equity securities | 500 |  |  | — |  |  |
Sale of other long-term investments | — |  |  | 8,790 |  |  |
Sale of real estate | — |  |  | 3,552 |  |  |
Funding of mortgage loans | — |  |  | (1,000) |  |  |
Principal payments on mortgage loans | 1,000 |  |  | — |  |  |
Purchases of property and equipment | (32) |  |  | (119) |  |  |
Purchases of short-term investments | (1,250) |  |  | — |  |  |
Net cash provided by (used in) investing activities | 3,023 |  |  | 23,059 |  |  |
Cash flows from financing activities: |  |  |  |  |
Issuance of common stock | 2,244 |  |  | 2,255 |  |  |
Acquisition of treasury stock | (2,705) |  |  | (9,090) |  |  |
Other | (118) |  |  | (456) |  |  |
Net cash provided by (used in) financing activities | (579) |  |  | (7,291) |  |  |
Net increase (decrease) in cash | (1,236) |  |  | 297 |  |  |
Cash at beginning of year | 3,399 |  |  | 3,102 |  |  |
Cash at end of year | $ | 2,163 |  |  | 3,399 |  |  |
Note to Schedule II: Citizens, Inc.'s investments in consolidated subsidiaries are stated at cost plus equity in undistributed income of consolidated subsidiaries and unrealized gains (losses) on investments held by consolidated subsidiaries. The Company includes in its Statement of Operations and Comprehensive Income (Loss) dividends from its subsidiaries and equity in income (loss) of consolidated subsidiaries, which represents the net income (loss) of each of its wholly-owned subsidiaries.

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 10 -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(Schedule I)) -URI https://asc.fasb.org/extlink&oid=126898705&loc=d3e5864-122674 Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI https://asc.fasb.org/extlink&oid=126929396&loc=d3e5283-111683 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690 + Details
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