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Unaudited Interim Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ 87,788 $ 11,304
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Policy charges and fee income (28,634) (23,697)
Interest credited to policyholders’ account balances 44,197 40,798
Realized investment (gains) losses, net 48,635 49,042
Amortization and other non-cash items (21,640) (9,397)
Change in:    
Future policy benefits 437,726 508,412
Reinsurance recoverables (423,868) (424,467)
Accrued investment income (1,080) (1,537)
Net payables to/receivables from parent and affiliates (6,905) 29,615
Deferred policy acquisition costs (74,610) (45,642)
Income taxes (16,996) (2,902)
Derivatives, net 66,403 (41,944)
Other, net (83,032) (97,354)
Cash flows from (used in) operating activities 27,984 (7,769)
Proceeds from the sale/maturity/prepayment of:    
Fixed maturities, available-for-sale 70,725 69,410
Equity securities 3,553 6
Policy loans 38,542 39,271
Ceded policy loans (3,325) (5,192)
Short-term investments 0 3,513
Commercial mortgage and other loans 12,184 16,369
Other invested assets 4,784 2,502
Payments for the purchase/origination of:    
Fixed maturities, available-for-sale (298,629) (188,613)
Equity securities (110) (5,000)
Policy loans (42,342) (35,689)
Ceded policy loans 4,344 4,957
Short-term investments 0 (3,400)
Commercial mortgage and other loans (14,143) (69,717)
Other invested assets (10,745) (30,358)
Notes receivable from parent and affiliates, net 8,251 3,853
Derivatives, net 306 (776)
Other, net (1,408) (1,465)
Cash flows from (used in) investing activities (228,013) (200,329)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Policyholders’ account deposits 1,284,926 1,119,440
Ceded policyholders’ account deposits (854,083) (757,139)
Policyholders’ account withdrawals (858,819) (694,382)
Ceded policyholders’ account withdrawals 602,592 437,445
Net change in securities sold under agreement to repurchase and cash collateral for loaned securities (729) (19,593)
Contributed (distributed) capital - parent/child asset transfers (5) 0
Net change in financing arrangements (maturities 90 days or less) 0 80
Drafts outstanding 12,590 (9,136)
Cash flows from (used in) financing activities 186,472 76,715
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (13,557) (131,383)
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 416,840 212,569
CASH AND CASH EQUIVALENTS, END OF PERIOD $ 403,283 $ 81,186