Realized investment gains are the result of one-time events and are expected to vary from year to year.
Effective January 1, 2017, the Company and FSNB began sharing certain services. The shared services focuses on departments commonly utilized by both organizations such as financial accounting, human resources and information technology. The shared services did not initially make a noticeable difference in operating expenses, but provides a larger team, which enhances capabilities and quality.
There are a number of significant risks and uncertainties inherent in the process of monitoring impairments and determining if impairment is other-than-temporary. These risks and uncertainties related to Management’s assessment of other-than-temporary declines in value include but are not limited to: the risk that Company's assessment of an issuer's ability to meet all of its contractual obligations will change based on changes in the credit characteristics of that issuer; the risk that the economic outlook will be worse than expected or have more of an impact on the issuer than anticipated; the risk that fraudulent information could be provided to the Company's investment professionals who determine the fair value estimates.
An additional source of liquidity to the Parent company and its subsidiaries is the line of credit facilities extended to them. As of December 31, 2018 and 2017, the Company and its subsidiaries had available $18 million in line of credit facilities. The Company did not utilize its available credit facilities during 2017 or 2018. For additional information regarding the line of credit facilities, see Note 7 - Credit Arrangements in the Notes to the Consolidated Financial Statements.
During 2018 and 2017, the Company’s investing activities provided net cash of approximately $2 million and $27 million, respectively. The Company recognized proceeds of approximately $107.7 million and $56.2 million from investments sold and matured in 2018 and 2017, respectively. The Company used approximately $105.7 million and $29.2 million to acquire investments. The net cash provided by investing activities is expected to vary from year to year depending on market conditions and management’s ability to find and negotiate favorable investment contracts.
The following table provides a summary of fixed maturities by contractual maturity as of December 31, 2018. Actual maturities could differ from contractual maturities due to call or prepayment provisions:
The following table presents the Company’s net realized investments gains (losses) and the change in net unrealized gains on available-for-sale investments for the periods ended December 31:
The following table presents the Company’s assets and liabilities measured at fair value in the consolidated balance sheet on a recurring basis as of December 31, 2017.
Other Compensation - During 2018, the Company issued 10,421 shares of stock to management and employees as compensation at a cost of $263,507. During 2017, The Company issued 11,285 shares of stock to management and employees as compensation at a cost of $197,487. These awards are determined at the discretion of the Board of Directors.
The Company rents approximately 8,000 square feet of office space, located in Stanford, Kentucky, from FSNB and pays $2,000 per month in rent. The Company paid rent of $24,000 to FSNB during 2018 and 2017.