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Unaudited Interim Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ (326,131) $ 84,230
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Policy charges and fee income (5,850) (10,057)
Interest credited to policyholders’ account balances 186,431 117,477
Realized investment (gains) losses, net (55,151) (59,025)
Amortization and other non-cash items (9,102) (19,863)
Change in:    
Future policy benefits 416,396 401,279
Reinsurance recoverables (353,572) (411,861)
Accrued investment income (4,044) (2,374)
Net payable to/receivable from parent and affiliates (7,099) (35,906)
Deferred policy acquisition costs 489,279 156,424
Income taxes (125,565) (25,420)
Deferred sales inducements (932) (2,002)
Derivatives, net 202,678 151,514
Other, net (73,914) (21,814)
Cash flows from (used in) operating activities 333,424 322,602
Proceeds from the sale/maturity/prepayment of:    
Fixed maturities, available-for-sale 459,445 229,453
Short-term investments 192,422 145,309
Policy loans 38,255 31,243
Ceded policy loans (1,976) (1,868)
Commercial mortgage and other loans 83,528 8,346
Other long-term investments 1,261 1,697
Equity securities, available-for-sale 10 11
Trading account assets 626 1,500
Payments for the purchase/origination of:    
Fixed maturities, available-for-sale (818,934) (366,407)
Short-term investments (184,142) (239,688)
Policy loans (26,081) (24,773)
Ceded policy loans 3,509 2,909
Commercial mortgage and other loans (64,988) (54,315)
Other long-term investments (14,085) (10,234)
Equity securities, available-for-sale (5,644) (5,010)
Trading account assets 0 (12,001)
Notes receivable from parent and affiliates, net 1,917 11,784
Derivatives, net 466 (4,150)
Other, net (4,389) 2,827
Cash flows from (used in) investing activities (338,800) (283,367)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Policyholders’ account deposits 1,023,782 829,044
Ceded policyholders’ account deposits (276,350) (258,767)
Policyholders’ account withdrawals (586,669) (455,336)
Ceded policyholders’ account withdrawals 16,445 10,218
Net change in cash collateral for loaned securities (35,098) 25,596
Contributed capital 5,000 0
Contributed (distributed) capital - parent/child asset transfers (60) (18,123)
Net change in financing arrangements (maturities 90 days or less) 500 6,804
Drafts outstanding (16,620) 14,698
Cash flows from (used in) financing activities 130,930 154,134
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 125,554 193,369
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 370,286 214,952
CASH AND CASH EQUIVALENTS, END OF PERIOD $ 495,840 $ 408,321