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CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
1 Months Ended 2 Months Ended 3 Months Ended
Jan. 31, 2015
Mar. 31, 2015
Mar. 31, 2016
Successor      
Cash flows from operating activities      
Net income   $ 62,861 $ 115,348
Adjustments to reconcile net income to net cash provided by operating activities:      
Realized investment (gains) losses   1,415 (5,612)
Amortization of DAC and VOBA   27,897 30,746
Capitalization of DAC   (49,191) (80,228)
Depreciation and amortization expense   8,335 13,829
Deferred income tax   28,509 111,312
Accrued income tax   80,549 (59,802)
Interest credited to universal life and investment products   130,209 156,748
Policy fees assessed on universal life and investment products   (188,403) (314,612)
Change in reinsurance receivables   11,571 21,203
Change in accrued investment income and other receivables   (6,242) (55,181)
Change in policy liabilities and other policyholders’ funds of traditional life and health products   (112,286) (28,581)
Trading securities:      
Maturities and principal reductions of investments   27,556 23,280
Sale of investments   31,584 112,158
Cost of investments acquired   (75,342) (131,030)
Other net change in trading securities   51,908 22,791
Amortization of premiums and accretion of discounts on investments and mortgage loans   67,285 97,131
Change in other liabilities   (222,769) 90,571
Other, net   77,909 (10,303)
Net cash provided by (used in) operating activities   (46,645) 109,768
Cash flows from investing activities      
Maturities and principal reductions of investments, available-for-sale   45,713 290,533
Sale of investments, available-for-sale   712,281 468,021
Cost of investments acquired, available-for-sale   (1,188,255) (1,348,046)
Change in investments, held-to-maturity   (20,000) (2,208,000)
Mortgage loans:      
New lendings   (248,508) (271,230)
Repayments   223,644 226,869
Change in investment real estate, net   21 2,644
Change in policy loans, net   16,502 15,420
Change in other long-term investments, net   (34,077) 7,648
Change in short-term investments, net   11,049 (199,246)
Net unsettled security transactions   5,100 123,117
Purchase of property and equipment   (709) (3,649)
Amounts received from reinsurance transaction   0 325,800
Net cash (used in) provided by investing activities   (477,239) (2,570,119)
Cash flows from financing activities      
Borrowings under line of credit arrangements and debt   155,000 90,000
Principal payments on line of credit arrangement and debt   (110,700) (127,888)
Issuance (repayment) of non-recourse funding obligations   20,000 2,179,700
Repurchase program borrowings   460,123 221,815
Dividends to shareowners   0 (89,343)
Investment product deposits and change in universal life deposits   462,674 697,099
Investment product withdrawals   (471,218) (552,960)
Other financing activities, net   68 0
Net cash provided by (used in) financing activities   515,947 2,418,423
Change in cash   (7,937) (41,928)
Cash at beginning of period   462,710 396,072
Cash at end of period $ 462,710 454,773 $ 354,144
Predecessor      
Cash flows from operating activities      
Net income 1,509    
Adjustments to reconcile net income to net cash provided by operating activities:      
Realized investment (gains) losses 42,602    
Amortization of DAC and VOBA 4,072    
Capitalization of DAC (22,489)    
Depreciation and amortization expense 820    
Deferred income tax 30,791    
Accrued income tax (32,803)    
Interest credited to universal life and investment products 79,088    
Policy fees assessed on universal life and investment products (90,288)    
Change in reinsurance receivables (85,081)    
Change in accrued investment income and other receivables (5,789)    
Change in policy liabilities and other policyholders’ funds of traditional life and health products 176,980    
Trading securities:      
Maturities and principal reductions of investments 17,946    
Sale of investments 26,422    
Cost of investments acquired (27,289)    
Other net change in trading securities (26,901)    
Amortization of premiums and accretion of discounts on investments and mortgage loans 12,930    
Change in other liabilities 238,592    
Other, net (149,889)    
Net cash provided by (used in) operating activities 191,223    
Cash flows from investing activities      
Maturities and principal reductions of investments, available-for-sale 59,028    
Sale of investments, available-for-sale 191,062    
Cost of investments acquired, available-for-sale (149,887)    
Change in investments, held-to-maturity 0    
Mortgage loans:      
New lendings (100,530)    
Repayments 45,741    
Change in investment real estate, net 7    
Change in policy loans, net 6,365    
Change in other long-term investments, net (25,339)    
Change in short-term investments, net (40,314)    
Net unsettled security transactions 37,510    
Purchase of property and equipment (649)    
Amounts received from reinsurance transaction 0    
Net cash (used in) provided by investing activities 22,994    
Cash flows from financing activities      
Borrowings under line of credit arrangements and debt 0    
Principal payments on line of credit arrangement and debt (60,000)    
Issuance (repayment) of non-recourse funding obligations 0    
Repurchase program borrowings 0    
Dividends to shareowners 0    
Investment product deposits and change in universal life deposits 169,233    
Investment product withdrawals (240,147)    
Other financing activities, net (4)    
Net cash provided by (used in) financing activities (130,918)    
Change in cash 83,299    
Cash at beginning of period 379,411 $ 462,710  
Cash at end of period $ 462,710