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CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash flows from operating activities    
Net income $ 242,224 $ 320,762
Adjustments to reconcile net income to net cash provided by operating activities:    
Realized investment (gains) losses 176,588 (31,022)
Amortization of DAC and VOBA 47,612 94,899
Capitalization of DAC (249,640) (244,252)
Depreciation and amortization expense 49,227 42,520
Deferred income tax 86,463 201,466
Accrued income tax 17,453 (152,402)
Interest credited to universal life and investment products 507,229 532,998
Policy fees assessed on universal life and investment products (1,004,829) (935,702)
Change in reinsurance receivables 132,617 101,284
Change in accrued investment income and other receivables (17,550) (44,655)
Change in policy liabilities and other policyholders’ funds of traditional life and health products (273,640) (159,533)
Trading securities:    
Maturities and principal reductions of investments 131,563 93,397
Sale of investments 195,733 390,412
Cost of investments acquired (277,423) (438,886)
Other net change in trading securities 17,741 47,879
Amortization of premiums and accretion of discounts on investments and mortgage loans 232,939 308,249
Change in other liabilities 36,239 338,199
Other, net (58,308) (110,243)
Net cash (used in) provided by operating activities (7,762) 355,370
Cash flows from investing activities    
Maturities and principal reductions of investments, available-for-sale 541,155 984,707
Sale of investments, available-for-sale 1,302,576 1,544,558
Cost of investments acquired, available-for-sale (3,248,911) (3,962,879)
Change in investments, held-to-maturity 36,000 (2,185,000)
Mortgage loans:    
New lendings (1,081,226) (944,025)
Repayments 644,189 648,109
Change in investment real estate, net 3,679 2,905
Change in policy loans, net 24,280 43,425
Change in other long-term investments, net (282,506) (104,543)
Change in short-term investments, net (203,169) 51,960
Net unsettled security transactions 349,544 52,292
Purchase of property, equipment, and intangibles (34,229) (15,607)
Amounts received from reinsurance transaction 0 325,800
Net cash used in investing activities (1,948,618) (3,558,298)
Cash flows from financing activities    
Borrowings under line of credit arrangements and debt 975,000 220,000
Principal payments on line of credit arrangement and debt (934,123) (373,074)
Issuance (repayment) of non-recourse funding obligations (36,000) 2,098,700
Secured financing liabilities (198,165) (218,728)
Dividends to shareowner (143,848) (89,343)
Investment product deposits and change in universal life deposits 3,901,051 3,509,315
Investment product withdrawals (1,698,062) (1,718,670)
Other financing activities, net (93) 0
Net cash provided by financing activities 1,865,760 3,428,200
Change in cash (90,620) 225,272
Cash at beginning of period 348,182 396,072
Cash at end of period $ 257,562 $ 621,344