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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 512,898 $ 785,803 $ 1,538,210
Adjustments to reconcile net income to net cash provided by operating activities:      
Policy charges and fee income (11,811) (76,188) (113,831)
Interest credited to policyholders’ account balances 374,211 368,315 45,737
Realized investment (gains) losses, net 208,538 (114,067) 13,450
Amortization and other non-cash items (68,070) (62,723) (43,677)
Change in:      
Future policy benefits and other policyholder liabilities 1,503,445 1,402,458 1,185,681
Reinsurance recoverables (1,536,347) (1,302,695) (1,168,256)
Accrued investment income (9,525) (2,174) (4,286)
Net payables to/receivables from parent and affiliates 20,299 18,037 (65,548)
Deferred policy acquisition costs 46,643 (190,550) (1,346,386)
Income taxes (34,243) 69,204 341,965
Deferred sales inducements (6,462) (9,112) (20,871)
Derivatives, net 60,517 155,556 (75,843)
Other, net 82,836 35,828 31,261
Cash flows from operating activities 1,142,929 1,077,692 317,606
Proceeds from the sale/maturity/prepayment of:      
Fixed maturities, available-for-sale 813,721 907,665 1,570,701
Short-term investments 823,112 409,804 662,351
Policy loans 135,449 121,644 130,655
Ceded policy loans (9,129) (9,753) (9,156)
Commercial mortgage and other loans 219,379 113,073 207,340
Other long-term investments 15,633 5,361 12,933
Equity securities, available-for-sale 5,760 17,854 13,596
Trading account assets 1,500 1,375 7,524
Payments for the purchase/origination of:      
Fixed maturities, available-for-sale (1,719,015) (1,340,010) (1,934,430)
Short-term investments (755,145) (514,524) (566,100)
Policy loans (110,165) (114,037) (101,357)
Ceded policy loans 13,850 10,960 9,687
Commercial mortgage and other loans (196,538) (320,155) (367,857)
Other long-term investments (49,004) (47,096) (72,862)
Equity securities, available-for-sale (31,063) (45,101) (10,574)
Trading account assets (19,001) (32,060) (9,478)
Notes receivable from parent and affiliates, net 35,350 (7,831) 4,641
Derivatives, net (12,164) (11,329) (11,997)
Other, net (584) 616 160
Cash flows used in investing activities (838,054) (853,544) (464,223)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Policyholders’ account deposits 3,839,784 2,966,388 3,091,818
Ceded policyholders’ account deposits (1,109,311) (672,242) (413,181)
Policyholders’ account withdrawals (2,134,373) (1,730,977) (2,399,425)
Ceded policyholders’ account withdrawals 50,016 46,690 47,114
Net change in securities sold under agreement to repurchase and cash collateral for loaned securities (25,002) (19,449) 36,799
Dividend to parent (430,000) (748,000) (423,000)
Contributed (distributed) capital - parent/child asset transfers (18,739) (17,306) (3,374)
Net change in financing arrangements (maturities 90 days or less) 0 (2,900) 2,900
Proceeds from the issuance of debt (maturities longer than 90 days) 412,000 418,000 532,000
Repayments of debt (maturities longer than 90 days) (739,000) (571,000) (451,000)
Drafts outstanding 5,084 14,357 21,100
Cash flows from (used in) financing activities (149,541) (316,439) 41,751
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 155,334 (92,291) (104,866)
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 214,952 307,243 412,109
CASH AND CASH EQUIVALENTS, END OF YEAR 370,286 214,952 307,243
SUPPLEMENTAL CASH FLOW INFORMATION      
Income taxes paid, net of refunds 26,237 129,430 250,087
Interest paid $ 53,122 $ 62,664 $ 40,209