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Unaudited Interim Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ 136,223 $ 47,530
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Policy charges and fee income (135,809) (75,175)
Interest credited to policyholders’ account balances 94,907 83,353
Realized investment (gains) losses, net 100,885 85,932
Amortization and other non-cash items (52,217) (20,135)
Change in:    
Future policy benefits 1,388,982 870,715
Reinsurance recoverables (1,339,652) (799,012)
Accrued investment income (4,889) (3,172)
Net payables to/receivables from parent and affiliates (69,192) (41,905)
Deferred policy acquisition costs (133,641) (56,030)
Income taxes (93,244) 22,585
Derivatives, net 98,778 (2,927)
Other, net (32,189) (127,216)
Cash flows from (used in) operating activities (41,058) (15,457)
Proceeds from the sale/maturity/prepayment of:    
Fixed maturities, available-for-sale 179,330 247,967
Fixed maturities, trading 0 0
Equity securities 21,656 90
Policy loans 78,129 77,733
Ceded policy loans (6,285) (7,833)
Short-term investments 369 6,244
Commercial mortgage and other loans 36,892 40,542
Other invested assets 10,206 7,171
Payments for the purchase/origination of:    
Fixed maturities, available-for-sale (566,299) (524,177)
Fixed maturities, trading 6,015 0
Equity securities (110) (5,000)
Policy loans (81,818) (81,882)
Ceded policy loans 8,112 8,198
Short-term investments (463) (5,270)
Commercial mortgage and other loans (53,190) (82,690)
Other invested assets (34,855) (44,314)
Notes receivable from parent and affiliates, net 9,995 4,084
Derivatives, net 729 (327)
Other, net (3,404) (2,709)
Cash flows from (used in) investing activities (407,021) (362,173)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Policyholders’ account deposits 2,702,683 2,331,075
Ceded policyholders’ account deposits (1,784,740) (1,572,155)
Policyholders’ account withdrawals (1,712,728) (1,462,569)
Ceded policyholders’ account withdrawals 1,241,925 956,062
Net change in securities sold under agreement to repurchase and cash collateral for loaned securities (3,980) (20,031)
Contributed (distributed) capital - parent/child asset transfers (5) 0
Net change in financing arrangements (maturities 90 days or less) 0 1,727
Drafts outstanding 3,581 3,158
Cash flows from (used in) financing activities 446,736 237,267
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (1,343) (140,363)
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 416,840 212,569
CASH AND CASH EQUIVALENTS, END OF PERIOD $ 415,497 $ 72,206