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CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Cash flows from operating activities    
Net income $ 265,707 $ 242,224
Adjustments to reconcile net income to net cash provided by operating activities:    
Realized investment (gains) losses 97,875 176,588
Amortization of DAC and VOBA 144,009 47,612
Capitalization of DAC (331,277) (249,640)
Depreciation and amortization expense 50,826 49,227
Deferred income tax 10,340 86,463
Accrued income tax 77,802 17,453
Interest credited to universal life and investment products 630,770 507,229
Policy fees assessed on universal life and investment products (1,146,980) (1,004,829)
Change in reinsurance receivables 259,429 132,617
Change in accrued investment income and other receivables (11,823) (17,550)
Change in policy liabilities and other policyholders’ funds of traditional life and health products (512,879) (273,640)
Trading securities:    
Maturities and principal reductions of investments 140,851 131,563
Sale of investments 307,632 195,733
Cost of investments acquired (403,355) (277,423)
Other net change in trading securities 10,641 17,741
Amortization of premiums and accretion of discounts on investments and mortgage loans 232,401 232,939
Change in other liabilities 21,569 36,239
Other, net (44,952) (58,308)
Net cash used in operating activities (201,414) (7,762)
Cash flows from investing activities    
Maturities and principal reductions of investments, available-for-sale 1,249,048 541,155
Sale of investments, available-for-sale 1,935,178 1,302,576
Cost of investments acquired, available-for-sale (4,304,036) (3,248,911)
Change in investments, held-to-maturity 62,000 36,000
Mortgage loans:    
New lendings (1,185,316) (1,081,226)
Repayments 797,450 644,189
Change in investment real estate, net (647) (3,679)
Change in policy loans, net 43,642 24,280
Change in other long-term investments, net (292,893) (282,506)
Change in short-term investments, net 82,748 (203,169)
Net unsettled security transactions 84,036 349,544
Purchase of property, equipment, and intangibles (9,888) (34,229)
Cash received from reinsurance transaction 20,669 0
Net cash used in investing activities (1,516,715) (1,948,618)
Cash flows from financing activities    
Borrowings under line of credit arrangement, debt, and subordinated debt 1,075,000 975,000
Principal payments on line of credit arrangement, debt, and subordinated debt (757,884) (934,123)
Issuance (repayment) of non-recourse funding obligations (100,000) (36,000)
Secured financing liabilities (503,336) (198,165)
Dividends to shareowner (140,000) (143,848)
Investment product deposits and change in universal life deposits 4,397,886 3,901,051
Investment product withdrawals (2,311,096) (1,698,062)
Other financing activities, net (291) (93)
Net cash provided by financing activities 1,660,279 1,865,760
Change in cash (57,850) (90,620)
Cash at beginning of period 252,310 348,182
Cash at end of period $ 194,460 $ 257,562