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Unaudited Interim Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 298,659 $ 528,239
Adjustments to reconcile net income to net cash provided by operating activities:    
Policy charges and fee income (631) (64,985)
Interest credited to policyholders’ account balances 165,720 163,579
Realized investment (gains) losses, net 111,631 (117,199)
Amortization and other non-cash items (36,806) (33,590)
Change in:    
Future policy benefits and other insurance liabilities 753,124 737,608
Reinsurance recoverables (767,317) (694,973)
Accrued investment income (3,085) (682)
Net payable to/receivable from parent and affiliates (13,058) (5,096)
Deferred policy acquisition costs (7,934) (155,604)
Income taxes (14,390) 50,967
Deferred sales inducements (3,969) (5,159)
Derivatives, net (65,542) (5,760)
Other, net (24,523) (33,717)
Cash flows from operating activities 391,879 363,628
Proceeds from the sale/maturity/prepayment of:    
Fixed maturities, available-for-sale 431,458 471,833
Short-term investments 500,631 216,793
Policy loans 60,685 55,823
Ceded policy loans (3,639) (3,157)
Commercial mortgage and other loans 49,051 53,735
Other long-term investments 6,902 3,624
Equity securities, available-for-sale 0 5,210
Trading account assets 991 1,375
Payments for the purchase/origination of:    
Fixed maturities, available-for-sale (852,120) (665,106)
Short-term investments (456,792) (309,812)
Policy loans (52,453) (56,217)
Ceded policy loans 5,868 5,048
Commercial mortgage and other loans (114,378) (118,865)
Other long-term investments (21,089) (19,454)
Equity securities, available-for-sale (5,010) (40,101)
Trading account assets (12,001) (8,800)
Notes receivable from parent and affiliates, net 8,470 (12,232)
Derivatives, net (7,777) (12,028)
Other, net 1,164 512
Cash flows used in investing activities (460,039) (431,819)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Policyholders’ account deposits 1,763,866 1,401,561
Ceded policyholders’ account deposits (497,677) (279,695)
Policyholders’ account withdrawals (1,006,256) (843,350)
Ceded policyholders’ account withdrawals 26,208 17,509
Net change in securities sold under agreement to repurchase and cash collateral for loaned securities 44,380 9,450
Dividend to parent (230,000) (338,000)
Contributed (distributed) capital - parent/child asset transfers (18,739) 130
Net change in financing arrangements (maturities 90 days or less) 0 57,100
Proceeds from the issuance of debt (maturities longer than 90 days) 72,000 0
Repayments of debt (maturities longer than 90 days) (129,000) (129,000)
Drafts outstanding (73) 10,770
Cash flows from (used in) financing activities 24,709 (93,525)
NET DECREASE IN CASH AND CASH EQUIVALENTS (43,451) (161,716)
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 214,952 307,243
CASH AND CASH EQUIVALENTS, END OF PERIOD $ 171,501 $ 145,527