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CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash flows from operating activities    
Net income $ 159,682 $ 227,468
Adjustments to reconcile net income to net cash provided by operating activities:    
Realized investment losses (gains) 112,124 (10,062)
Amortization of DAC and VOBA 43,621 51,507
Capitalization of DAC (133,799) (162,363)
Depreciation and amortization expense 30,765 27,008
Deferred income tax 62,327 168,049
Accrued income tax 16,754 (63,718)
Interest credited to universal life and investment products 326,949 365,702
Policy fees assessed on universal life and investment products (666,174) (633,366)
Change in reinsurance receivables 77,594 88,923
Change in accrued investment income and other receivables 9,326 (30,069)
Change in policy liabilities and other policyholders’ funds of traditional life and health products (163,476) (180,674)
Trading securities:    
Maturities and principal reductions of investments 77,697 54,710
Sale of investments 136,007 299,517
Cost of investments acquired (193,774) (331,920)
Other net change in trading securities 12,504 31,036
Amortization of premiums and accretion of discounts on investments and mortgage loans 219,097 197,319
Change in other liabilities 60,499 274,971
Other, net (117,697) (43,897)
Net cash provided by operating activities 70,026 330,141
Cash flows from investing activities    
Maturities and principal reductions of investments, available-for-sale 349,663 630,133
Sale of investments, available-for-sale 860,182 1,212,879
Cost of investments acquired, available-for-sale (1,465,086) (2,852,940)
Change in investments, held-to-maturity 21,000 (2,188,000)
Mortgage loans:    
New lendings (745,445) (575,386)
Repayments 373,836 457,181
Change in investment real estate, net 1,546 3,883
Change in policy loans, net 15,431 29,290
Change in other long-term investments, net (6,063) (65,499)
Change in short-term investments, net (41,417) (41,017)
Net unsettled security transactions 11,312 112,433
Purchase of property, equipment, and intangibles (15,709) (8,282)
Amounts received from reinsurance transaction 0 325,800
Net cash used in investing activities (640,750) (2,959,525)
Cash flows from financing activities    
Borrowings under line of credit arrangements and debt 305,000 100,000
Principal payments on line of credit arrangement and debt (283,998) (258,763)
Issuance (repayment) of non-recourse funding obligations (21,000) 2,176,700
Secured financing liabilities (357,596) (278,185)
Dividends to shareowner (143,848) (89,343)
Investment product deposits and change in universal life deposits 2,240,760 2,219,455
Investment product withdrawals (1,111,905) (1,208,033)
Other financing activities, net 0 0
Net cash provided by financing activities 627,413 2,661,831
Change in cash 56,689 32,447
Cash at beginning of period 348,182 396,072
Cash at end of period $ 404,871 $ 428,519