INDEPENDENCE HOLDING CO

CIK:0000701869|SEC Filings

Consolidated Income Statement - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenues
Net Investment Income	$ 119	$ 170	$ 430	$ 916
Insurance Commissions and Fees	5,569	6,113	20,291	18,465
Other Income	873	615	1,660	1,739
Gain (Loss) on Investments	(48)	(53)	105	122
Revenues	6,513	6,845	22,486	21,242
Operating Expenses
Selling, General and Administrative Expense	21,592	16,431	53,028	43,221
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	(15,079)	(9,586)	(30,542)	(21,979)
Income Tax Expense (Benefit)	(3,567)	(2,241)	(7,026)	(5,617)
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest	(11,512)	(7,345)	(23,516)	(16,362)
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest
Discontinued Operation, Income (Loss) from Discontinued Operation, before Income Tax	36,383	20,295	150,376	38,790
Discontinued Operation, Tax Effect of Discontinued Operation	7,512	4,218	27,567	8,836
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest	28,871	16,077	122,809	29,954
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	17,359	8,732	99,293	13,592
Net Income (Loss) Attributable to Nonredeemable Noncontrolling Interest	0	(5)	(2)	29
Net Income (Loss) Attributable to Redeemable Noncontrolling Interest	0	49	(156)	176
Net Income (Loss) Attributable to Parent	$ 17,359	$ 8,688	$ 99,451	$ 13,387
Earnings Per Share, Basic
Income (Loss) from Continuing Operations, Per Basic Share	$ (0.79)	$ (0.50)	$ (1.61)	$ (1.11)
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Basic Share	1.97	1.09	8.40	2.02
Earnings Per Share, Basic	$ 1.18	$ 0.59	$ 6.79	$ 0.91
Weighted Average Number of Shares Outstanding, Basic	14,654	14,670	14,645	14,763
Earnings Per Share, Diluted
Income (Loss) from Continuing Operations, Per Diluted Share	$ (0.79)	$ (0.50)	$ (1.61)	$ (1.11)
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Diluted Share	1.97	1.09	8.40	2.02
Earnings Per Share, Diluted	$ 1.18	$ 0.59	$ 6.79	$ 0.91
Weighted Average Number of Shares Outstanding, Diluted	14,654	14,670	14,645	14,763

Consolidated Statement of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
CASH FLOWS PROVIDED BY (USED BY) OPERATING ACTIVITIES:
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	$ 99,293	$ 13,592
Net Cash Provided by (Used in) Operating Activities	41,683	37,785
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect	(56,270)	(578)
Adjustments to reconcile net income to net change in cash from
Discontinued Operation, Gain (Loss) from Disposal of Discontinued Operation, before Income Tax	(74,008)	0
Discontinued Operation, Provision for Loss (Gain) on Disposal, before Income Tax	1,021	0
Deferred and Sharebased Compensation, Noncash	7,001	2,929
Investment Income, Net, Amortization of Discount and Premium	(408)	(481)
Gain (Loss) on Investments	105	122
Depreciation, Depletion and Amortization, Nonproduction	977	800
Other Noncash Income (Expense)	(13,975)	(4,710)
Increase (Decrease) in Operating Capital
Increase (Decrease) in Insurance Liabilities	2,048	14,670
Increase (Decrease) in Premiums Receivable	14,577	2,852
Increase (Decrease) in Contract with Customer, Asset	332	0
Increase (Decrease) in Reinsurance Recoverable	(4,279)	(5,334)
Change in Claim Fund Balances	(1,133)	751
Increase (Decrease) in Other Operating Assets and Liabilities, Net	(2,836)	2,508
Net Cash Provided by (Used in) Investing Activities
Payments for (Proceeds from) Short-term Investments	(2,560)	1,049
Proceeds from (Payments for) Securities Purchased under Agreements to Resell	(145,314)	28,844
Proceeds from Sale of Debt and Equity Securities, FV-NI, Held-for-investment	3,494	0
Proceeds from Sale of Debt Securities, Available-for-sale	10,351	39,388
Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-sale	56,634	96,964
Payments to Acquire Debt Securities, Available-for-sale	8,343	170,088
Cash Divested from Deconsolidation	4,878	0
Payments to Acquire Businesses, Net of Cash Acquired	0	13,707
Payments to Acquire Other Investments	2,500	1,250
Other investing activities	2,418	3,998
Net Cash Provided by (Used in) Investing Activities	(90,414)	(24,896)
Net Cash Provided by (Used in) Financing Activities
Payments for Repurchase of Common Stock	521	6,882
Net Change Annuities and Investment Certificates	(144)	(464)
Payments of Ordinary Dividends, Common Stock	6,443	6,215
Proceeds from (Payments for) Other Financing Activities	(431)	94
Net Cash Provided by (Used in) Financing Activities	(7,539)	(13,467)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations, Beginning Balance	74,793	24,631
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations, Ending Balance	18,523	24,053
Noncash or Part Noncash Divestiture, Amount of Consideration Received	$ 78,263	$ 0

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Investments
Securities Purchased under Agreements to Resell	$ 25,458	$ 23,962
Debt Securities, Available-for-sale	29,070	44,003
Other Investments	2,050	1,928
Investments	56,578	69,893
Cash and Cash Equivalents, at Carrying Value	7,946	17,215
Equity Method Investments	33,475	0
Escrow Deposit	78,263	0
Other Assets	33,975	49,475
Disposal Group, Including Discontinued Operation, Assets	995,383	946,573
Assets, Total	1,205,620	1,083,156
Liabilities
Other Liabilities	39,817	28,387
Disposal Group, Including Discontinued Operation, Liabilities	601,253	582,651
Liabilities	641,070	611,038
Redeemable Noncontrolling Interest, Equity, Common, Carrying Amount	0	2,312
TOTAL LIABILITIES AND EQUITY	1,205,620	1,083,156
STOCKHOLDERS' EQUITY:
Preferred Stock, Value, Issued	0	0
Common Stock, Value, Issued	18,625	18,625
Additional Paid in Capital, Common Stock	125,357	124,757
Accumulated Other Comprehensive Income (Loss), Net of Tax	2,320	4,197
Treasury stock, at cost; 3,950,522 and 3,982,411 shares	77,247	77,088
Retained Earnings (Accumulated Deficit)	495,498	399,273
TOTAL IHC STOCKHOLDERS' EQUITY	564,553	469,764
Stockholders' Equity Attributable to Noncontrolling Interest	(3)	42
TOTAL EQUITY	$ 564,550	$ 469,806