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CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (USD $)
In Thousands
6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Cash flows from operating activities    
Net income $ 160,830 $ 110,950
Adjustments to reconcile net income to net cash provided by operating activities:    
Realized investment losses (gains) (560) 56,024
Amortization of deferred policy acquisition costs and value of business acquired 154,051 104,375
Capitalization of deferred policy acquisition costs (252,788) (247,533)
Depreciation expense 4,478 4,604
Deferred income tax 56,911 27,558
Accrued income tax 5,646 71,090
Interest credited to universal life and investment products 490,348 494,693
Policy fees assessed on universal life and investment products (343,102) (299,620)
Change in reinsurance receivables (112,485) (219,984)
Change in accrued investment income and other receivables (21,578) (6,005)
Change in policy liabilities and other policyholders' funds of traditional life and health products 57,235 238,548
Trading securities:    
Maturities and principal reductions of investments 172,470 175,017
Sale of investments 456,232 319,383
Cost of investments acquired (498,105) (468,303)
Other net change in trading securities 2,549 (33,950)
Change in other liabilities (65,216) (23,423)
Other income - surplus note repurchase (30,667)  
Other, net 18,586 39,597
Net cash provided by operating activities 254,835 343,021
Cash flows from investing activities    
Maturities and principal reductions of investments, available-for-sale 935,399 889,299
Sale of investments, available-for-sale 1,746,847 1,979,372
Cost of investments acquired, available-for sale (2,633,559) (3,627,942)
Mortgage loans:    
New borrowings (276,254) (154,251)
Repayments 245,496 150,574
Change in investment real estate, net 369 1,969
Change in policy loans, net 12,252 19,171
Change in other long-term investments, net (76,580) (29,548)
Change in short-term investments, net 109,352 85,775
Net unsettled security transactions 187,885 215,258
Purchase of property and equipment (6,927) (5,171)
Payments for business acquisitions (209,609)  
Net cash provided by (used in) investing activities 34,671 (475,494)
Cash flows from financing activities    
Borrowings under line of credit arrangements and debt 10,000 90,000
Principal payments on line of credit arrangement and debt (17,000) (260,000)
Issuance (repayment) of non-recourse funding obligations (94,100) (18,400)
Dividends to shareowners (25,714) (22,264)
Repurchase of common stock (24,893)  
Investments product deposits and change in universal life deposits 2,101,553 1,827,781
Investment product withdrawals (2,060,672) (1,529,502)
Other financing activities, net (23,895) (3,943)
Net cash (used in) provided by financing activities (134,721) 83,672
Change in cash 154,785 (48,801)
Cash at beginning of period 264,425 205,325
Cash at end of period $ 419,210 $ 156,524