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Unaudited Interim Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 164,556 $ 700,418
Adjustments to reconcile net income to net cash provided by operating activities:    
Policy charges and fee income (12,740) (55,181)
Interest credited to policyholders’ account balances 322,206 253,705
Realized investment (gains) losses, net 114,615 (79,241)
Amortization and other non-cash items (46,618) (45,185)
Change in:    
Future policy benefits and other insurance liabilities 1,107,838 1,019,549
Reinsurance recoverables (1,060,191) (1,004,762)
Accrued investment income (5,850) 530
Net payable to/receivable from parent and affiliates (34,759) (26,301)
Deferred policy acquisition costs 248,479 (240,092)
Income taxes (57,552) 60,974
Deferred sales inducements (5,335) (7,204)
Derivatives, net 189,021 3,386
Other, net 6,576 (9,847)
Cash flows from (used in) operating activities 930,246 570,749
Proceeds from the sale/maturity/prepayment of:    
Fixed maturities, available-for-sale 639,458 639,755
Short-term investments 589,448 286,358
Policy loans 97,107 87,805
Ceded policy loans (5,902) (7,371)
Commercial mortgage and other loans 120,930 76,513
Other long-term investments 13,046 5,928
Equity securities, available-for-sale 697 5,200
Trading account assets 1,500 1,375
Payments for the purchase/origination of:    
Fixed maturities, available-for-sale (1,216,321) (1,054,570)
Short-term investments (602,094) (414,778)
Policy loans (81,456) (85,403)
Ceded policy loans 9,998 7,931
Commercial mortgage and other loans (150,658) (179,627)
Other long-term investments (28,160) (30,101)
Equity securities, available-for-sale (31,063) (40,101)
Trading account assets (19,001) (8,800)
Notes receivable from parent and affiliates, net 7,084 (3,512)
Derivatives, net (11,859) (12,453)
Other, net 1,353 2,581
Cash flows from (used in) investing activities (665,893) (723,270)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Policyholders’ account deposits 2,807,379 2,163,820
Ceded policyholders’ account deposits (774,131) (454,822)
Policyholders’ account withdrawals (1,571,992) (1,254,572)
Ceded policyholders’ account withdrawals 38,253 29,532
Net change in securities sold under agreement to repurchase and cash collateral for loaned securities 3,877 13,181
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 (2,900)
Proceeds from the issuance of debt (maturities longer than 90 days) 388,000 390,000
Repayments of debt (maturities longer than 90 days) (524,000) (340,000)
Drafts outstanding (16,851) 9,906
Cash flows from (used in) financing activities 101,796 216,275
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 366,149 63,754
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 214,952 307,243
CASH AND CASH EQUIVALENTS, END OF PERIOD $ 581,101 $ 370,997