XML 19 R8.htm IDEA: XBRL DOCUMENT v3.10.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Proceeds from (Repayments of) Debt $ 547  
Cash flows from operating activities:    
Net income 161 $ 115
Adjustments to reconcile net income to net cash provided by operating activities:    
Stock based compensation 3  
Amortization 40  
Deferred income taxes (4)  
Interest credited/index credits to contractholder account balances 452  
Net recognized losses (gains) on investments and derivatives 74  
Charges assessed to contractholders for mortality and administration (103)  
Deferred policy acquisition costs, net of related amortization (237)  
Gain on Extinguishment of Debt (2) 0
Changes in operating assets and liabilities:    
Reinsurance recoverable 11  
Future policy benefits (120)  
Funds withheld from reinsurers 11  
Collateral (returned) posted (62)  
Other assets and other liabilities 40  
Net cash provided by (used in) operating activities 264  
Cash flows from investing activities:    
Proceeds from commercial mortgage loans 50  
Capital expenditures (7)  
Net cash provided by (used in) investing activities (1,696)  
Cash flows from financing activities:    
Debt issuance costs (7)  
Retirement and paydown on debt and revolving credit facility (440)  
Draw on revolving credit facility 30  
Dividends paid 0  
Contractholder account deposits 3,020  
Contractholder account withdrawals (1,989)  
Net cash provided by (used in) financing activities 1,161  
Change in cash & cash equivalents (271)  
Cash & cash equivalents, beginning of period 1,215  
Cash & cash equivalents, end of period 944  
Supplemental disclosures of cash flow information:    
Interest paid 14  
Income taxes (refunded) paid 30  
Deferred sales inducements 98  
Payment for Contingent Consideration Liability, Investing Activities (57)  
Available-for-sale Securities    
Cash flows from investing activities:    
Proceeds from available-for-sale investments, sold, matured or repaid: 5,865  
Cost of available-for-sale investments: (7,345)  
Derivative and other    
Cash flows from investing activities:    
Proceeds from available-for-sale investments, sold, matured or repaid: 430  
Cost of available-for-sale investments: $ (632)  
Predecessor    
Proceeds from (Repayments of) Debt   0
Cash flows from operating activities:    
Net income   115
Adjustments to reconcile net income to net cash provided by operating activities:    
Stock based compensation   5
Amortization   (36)
Deferred income taxes   (80)
Interest credited/index credits to contractholder account balances   714
Net recognized losses (gains) on investments and derivatives   (254)
Charges assessed to contractholders for mortality and administration   (99)
Deferred policy acquisition costs, net of related amortization   (167)
Changes in operating assets and liabilities:    
Reinsurance recoverable   (10)
Future policy benefits   (41)
Funds withheld from reinsurers   (79)
Collateral (returned) posted   118
Other assets and other liabilities   (21)
Net cash provided by (used in) operating activities   165
Cash flows from investing activities:    
Proceeds from commercial mortgage loans   35
Capital expenditures   (2)
Net cash provided by (used in) investing activities   (623)
Cash flows from financing activities:    
Debt issuance costs   0
Retirement and paydown on debt and revolving credit facility   0
Draw on revolving credit facility   5
Dividends paid   (11)
Contractholder account deposits   2,192
Contractholder account withdrawals   (1,475)
Net cash provided by (used in) financing activities   711
Change in cash & cash equivalents   253
Cash & cash equivalents, beginning of period   632
Supplemental disclosures of cash flow information:    
Interest paid   13
Income taxes (refunded) paid   114
Deferred sales inducements   20
Payment for Contingent Consideration Liability, Investing Activities   0
Predecessor | Available-for-sale Securities    
Cash flows from investing activities:    
Proceeds from available-for-sale investments, sold, matured or repaid:   2,022
Cost of available-for-sale investments:   (2,768)
Predecessor | Derivative and other    
Cash flows from investing activities:    
Proceeds from available-for-sale investments, sold, matured or repaid:   387
Cost of available-for-sale investments:   $ (297)