XML 18 R6.htm IDEA: XBRL DOCUMENT v3.10.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income (loss) $ 108,638 $ 327,793 $ 405,205
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Policy charges and fee income (116,675) (142,781) 113,501
Interest credited to policyholders’ account balances 171,993 168,391 301,220
Realized investment (gains) losses, net 167,278 80,186 (758,449)
Amortization and other non-cash items (43,259) (65,536) (70,104)
Change in:      
Future policy benefits 1,843,825 1,920,440 1,801,299
Reinsurance recoverables (1,832,092) (2,046,215) (1,764,242)
Accrued investment income (5,937) (3,692) 12,709
Net payables to/receivables from parent and affiliates 18,457 43,913 (9,851)
Deferred policy acquisition costs (211,059) (183,884) 311,273
Income taxes (28,950) (76,330) (39,769)
Derivatives, net (44,585) 55,104 (198,861)
Other, net (4,487) 26,443 (110,850)
Cash flows from (used in) operating activities 23,147 103,832 (6,919)
Proceeds from the sale/maturity/prepayment of:      
Fixed maturities, available-for-sale 561,340 1,062,236 1,371,000
Fixed maturities, trading [1] 0 214 527
Equity securities [1] 6,008 510 35,686
Policy loans 153,124 143,655 137,778
Ceded policy loans (15,131) (15,188) (8,989)
Short-term investments 13,404 72,725 260,027
Commercial mortgage and other loans 64,261 254,635 209,263
Other invested assets [1] 19,527 31,192 12,479
Payments for the purchase/origination of:      
Fixed maturities, available-for-sale (875,672) (1,315,508) (2,465,763)
Fixed maturities, trading [1] (6,481) (15,019) 0
Equity securities [1] (5,039) (5,000) (5,000)
Policy loans (179,968) (123,645) (120,628)
Ceded policy loans 17,036 18,942 18,054
Short-term investments (13,430) (37,407) (241,827)
Commercial mortgage and other loans (199,847) (180,929) (312,898)
Other invested assets [1] (70,902) (32,275) (32,307)
Notes receivable from parent and affiliates, net (2,464) 5,731 20,463
Derivatives, net 639 (17,569) 20,954
Other, net (2,880) (152,576) (261)
Cash flows from (used in) investing activities (536,475) (305,276) (1,101,442)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Policyholders’ account deposits 5,093,239 4,540,655 4,289,697
Ceded policyholders’ account deposits (3,230,005) (3,083,049) (2,430,570)
Policyholders’ account withdrawals (3,135,714) (2,682,445) (2,505,219)
Ceded policyholders’ account withdrawals 2,022,519 1,692,756 1,072,151
Net change in securities sold under agreement to repurchase and cash collateral for loaned securities (22,106) (110,710) 103,463
Dividend to parent 0 (250,000) 0
Contributed Capital 0 148,500 405,321
Contributed (distributed) capital - parent/child asset transfers 0 2,354 1,676
Repayments of debt (maturities longer than 90 days) 0 0 (125,000)
Drafts outstanding (10,334) 59,795 22,713
Cash flows from (used in) financing activities 717,599 317,856 834,232
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 204,271 116,412 (274,129)
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 212,569 96,157 370,286
CASH AND CASH EQUIVALENTS, END OF YEAR 416,840 212,569 96,157
SUPPLEMENTAL CASH FLOW INFORMATION      
Income taxes paid (refund) (23,684) (45,538) (28,772)
Interest paid 3,099 $ 2,179 $ 16,263
Significant Non-Cash Transactions      
Increase (Decrease) In Fixed Maturities, Available For Sale, Investing Activities (837,000)    
Increase (Decrease) In Other Invested Assets, Tax Settlements, Investing Activities $ (35,000)    
[1] Prior period amounts have been reclassified to conform to current period presentation. See Note 2 for details.