XML 41 R7.htm IDEA: XBRL DOCUMENT v3.22.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:    
Net income (loss) $ (6,638) $ 36,787
Adjustments to reconcile net income to net cash provided by operating activities:    
Investment related gains (losses), net of sales of investments and other assets 10,291 (10,991)
Net deferred policy acquisition costs 1,630 2,212
Amortization of cost of customer relationships acquired 974 1,206
Depreciation 536 1,140
Amortization of premiums and discounts on investments 4,240 5,568
Stock-based compensation 461 646
Deferred federal income tax expense (benefit) 124 427
Goodwill impairment 0 12,624
Change in:    
Accrued investment income (934) (60)
Reinsurance recoverable 979 214
Due premiums (1,081) 561
Future policy benefit reserves 29,501 35,239
Other policyholders' liabilities 4,698 14,136
Federal income tax receivable 161 (44,678)
Commissions payable and other liabilities 12,652 (15,450)
Other, net (674) 874
Net cash provided by operating activities 56,920 40,455
Cash flows from investing activities:    
Sale of fixed maturities, available-for-sale 33,914 8,238
Maturities and calls of fixed maturities, available-for-sale 44,493 53,089
Purchase of fixed maturities, available-for-sale (120,094) (94,265)
Sales of equity securities 500 7,383
Principal payments on mortgage loans 1,098 10
Funding of mortgage loans 0 (1,000)
Change in policy loans, net (1,534) (3,011)
Sale of other long-term investments 5,033 24,238
Purchase of other long-term investments and real estate (25,870) (40,788)
Purchase of property and equipment (100) (1,007)
Sale of property and equipment 0 14
Purchase of short-term investments (1,250) 0
Net cash used in investing activities (60,742) (41,077)
Cash flows from financing activities:    
Annuity deposits 8,626 8,839
Repayments of Annuities and Investment Certificates (8,546) (7,763)
Proceeds from Issuance of Common Stock 2,244 2,255
Payments for Repurchase of Equity (2,705) (9,090)
Other financing activities (118) (456)
Net cash provided by financing activities (499) (6,215)
Net increase (decrease) in cash and cash equivalents (4,321) (6,837)
Cash and cash equivalents at beginning of year 27,294 34,131
Cash and cash equivalents at end of year $ 22,973 $ 27,294