XML 20 R9.htm IDEA: XBRL DOCUMENT v3.20.2
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities    
Net income $ 298,832 $ 486,936
Adjustments to reconcile net income to net cash used in operating activities:    
Realized (gains) losses - investments/derivatives (20,147) (216,308)
Amortization of DAC and VOBA 144,596 125,560
Capitalization of DAC (354,315) (341,481)
Depreciation and amortization expense 57,381 55,415
Deferred income tax 26,061 (189,599)
Accrued income tax 6,911 (63,824)
Interest credited to universal life and investment products 1,155,732 954,213
Policy fees assessed on universal life and investment products (1,338,402) (1,269,614)
Change in reinsurance receivables 42,910 292,029
Change in accrued investment income and other receivables 25,972 (14,148)
Change in policy liabilities and other policyholders’ funds of traditional life and health products (747,627) (545,930)
Trading securities:    
Maturities and principal reductions of investments 69,276 82,603
Sale of investments 493,059 327,852
Cost of investments acquired (719,682) (270,800)
Other net change in trading securities 19,577 (57,240)
Amortization of premiums and accretion of discounts on investments and commercial mortgage loans 235,331 238,086
Change in other liabilities 423,942 551,569
Other, net 26,210 (159,074)
Net cash used in operating activities (154,383) (13,755)
Cash flows from investing activities    
Maturities and principal reductions of investments, available-for-sale 3,157,821 1,339,764
Sale of investments, available-for-sale 2,507,683 3,149,829
Cost of investments acquired, available-for-sale (7,000,496) (4,827,926)
Commercial mortgage loans:    
New lendings (1,053,802) (968,656)
Repayments 484,313 723,325
Change in investment real estate, net 126 (319)
Change in policy loans, net 34,974 53,056
Change in other long-term investments, net 200,905 83,286
Change in short-term investments, net 67,941 (310,120)
Net unsettled security transactions 105,366 (154,791)
Purchase of property, equipment, and intangibles (25,137) (22,425)
Payment for business acquisition, net of cash acquired 0 (777,807)
Net cash used in investing activities (1,520,306) (1,712,784)
Cash flows from financing activities    
Secured financing liabilities (102,655) (142,575)
Capital contributions from parent 0 850,000
Deposits to universal life and investment contracts 5,040,986 4,258,248
Withdrawals from universal life and investment contracts (3,053,347) (3,166,505)
Other financing activities, net (294) (729)
Net cash provided by financing activities 1,884,690 1,798,439
Change in cash 210,001 71,900
Cash at beginning of period 171,752 151,400
Cash at end of period $ 381,753 $ 223,300