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Unaudited Interim Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ 66,255 $ 209,873
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Policy charges and fee income (97,276) (124,187)
Interest credited to policyholders’ account balances 128,062 128,923
Realized investment (gains) losses, net 135,355 31,175
Amortization and other non-cash items (35,790) (46,435)
Change in:    
Future policy benefits 1,392,199 1,455,418
Reinsurance recoverables (1,304,316) (1,564,329)
Accrued investment income (5,021) (2,828)
Net payables to/receivables from parent and affiliates (74,887) (33,543)
Deferred policy acquisition costs (130,401) (116,519)
Income taxes 10,708 53,472
Derivatives, net 4,552 3,945
Other, net (70,025) 90,529
Cash flows from (used in) operating activities 19,415 85,494
Proceeds from the sale/maturity/prepayment of:    
Fixed maturities, available-for-sale 368,906 875,580
Fixed maturities, trading [1] 0 214
Equity securities [1] 218 510
Policy loans 113,736 107,002
Ceded policy loans (10,523) (11,273)
Short-term investments 12,580 68,247
Commercial mortgage and other loans 57,568 112,174
Other invested assets [1] 11,997 10,913
Payments for the purchase/origination of:    
Fixed maturities, available-for-sale (663,519) (1,038,434)
Fixed maturities, trading [1] 0 (15,019)
Equity securities [1] (5,039) (5,000)
Policy loans (135,070) (84,190)
Ceded policy loans 12,619 13,309
Short-term investments (13,032) (32,316)
Commercial mortgage and other loans (158,163) (164,199)
Other invested assets [1] (53,428) (22,255)
Notes receivable from parent and affiliates, net 4,594 5,339
Derivatives, net 2,947 (17,899)
Other, net (4,916) (153,367)
Cash flows from (used in) investing activities (458,525) (350,664)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Policyholders’ account deposits 3,572,484 3,325,383
Ceded policyholders’ account deposits (2,336,157) (2,256,796)
Policyholders’ account withdrawals (2,173,295) (2,029,593)
Ceded policyholders’ account withdrawals 1,445,661 1,263,110
Net change in securities sold under agreement to repurchase and cash collateral for loaned securities (25,584) (128,265)
Contributed capital 0 148,500
Contributed (distributed) capital - parent/child asset transfers 0 1,346
Net change in financing arrangements (maturities 90 days or less) 1,744 0
Drafts outstanding (3,056) 41,654
Cash flows from (used in) financing activities 481,797 365,339
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 42,687 100,169
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 212,569 96,157
CASH AND CASH EQUIVALENTS, END OF PERIOD $ 255,256 $ 196,326
[1] Prior period amounts have been reclassified to conform to current period presentation. See Note 2 for details.