content_image/1039369.jpg
## CITIZENS, INC. AND CONSOLIDATED SUBSIDIARIES 

## Consolidated Statements of Cash Flows Years Ended December 31, Continued (In thousands) 

<img src='content_image/1039369.jpg'>

## Supplemental Disclosure of Noncash Investing and Financing Activities: 

During 2018, 2017 and 2016 various fixed maturity issuers exchanged securities with book values of $2.5 million, $4.8 million and $1.1 million, respectively, for securities of equal value. 

See accompanying notes to consolidated financial statements. 

