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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income (loss) $ 216,999 $ 108,638 $ 327,793
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Policy charges and fee income (126,300) (116,675) (142,781)
Interest credited to policyholders’ account balances 187,229 171,993 168,391
Realized investment (gains) losses, net 116,749 167,278 80,186
Amortization and other non-cash items (81,847) (43,259) (65,536)
Change in:      
Future policy benefits 2,538,263 1,843,825 1,920,440
Reinsurance recoverables (2,739,573) (1,832,092) (2,046,215)
Accrued investment income (1,170) (5,937) (3,692)
Net payables to/receivables from parent and affiliates (7,175) 18,457 43,913
Deferred policy acquisition costs (338,455) (211,059) (183,884)
Income taxes (138,706) (28,950) (76,330)
Derivatives, net 143,004 (44,585) 55,104
Other, net (22,573) (4,487) 26,443
Cash flows from (used in) operating activities (253,555) 23,147 103,832
Proceeds from the sale/maturity/prepayment of:      
Fixed maturities, available-for-sale 948,693 561,340 1,062,236
Fixed maturities, trading 0 0 214
Equity securities 29,532 6,008 510
Policy loans 162,744 153,124 143,655
Ceded policy loans (11,953) (15,131) (15,188)
Short-term investments 51,117 13,404 72,725
Commercial mortgage and other loans 144,512 64,261 254,635
Other invested assets 18,599 19,527 31,192
Payments for the purchase/origination of:      
Fixed maturities, available-for-sale (940,605) (875,672) (1,315,508)
Fixed maturities, trading (15,235) (6,481) (15,019)
Equity securities (110) (5,039) (5,000)
Policy loans (196,508) (179,968) (123,645)
Ceded policy loans 19,790 17,036 18,942
Short-term investments (51,113) (13,430) (37,407)
Commercial mortgage and other loans (171,762) (199,847) (180,929)
Other invested assets (84,762) (70,902) (32,275)
Notes receivable from parent and affiliates, net 15,980 (2,464) 5,731
Derivatives, net (4,056) 639 (17,569)
Other, net (6,342) (2,880) (152,576)
Cash flows from (used in) investing activities (91,479) (536,475) (305,276)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Policyholders’ account deposits 5,407,620 5,093,239 4,540,655
Ceded policyholders’ account deposits (3,537,492) (3,230,005) (3,083,049)
Policyholders’ account withdrawals (3,568,340) (3,135,714) (2,682,445)
Ceded policyholders’ account withdrawals 2,431,701 2,022,519 1,692,756
Net change in securities sold under agreement to repurchase and cash collateral for loaned securities (3,534) (22,106) (110,710)
Dividend to parent 250,000 0 250,000
Contributed Capital 0 0 148,500
Contributed (distributed) capital - parent/child asset transfers 1,443 0 2,354
Net change in financing arrangements (maturities 90 days or less) 2,845 0 0
Drafts outstanding 7,150 (10,334) 59,795
Cash flows from (used in) financing activities 491,393 717,599 317,856
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 146,359 204,271 116,412
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 416,840 212,569 96,157
CASH AND CASH EQUIVALENTS, END OF YEAR 563,199 416,840 212,569
SUPPLEMENTAL CASH FLOW INFORMATION      
Income taxes paid (refund) 79,574 (23,684) (45,538)
Interest Paid 3,204 $ 3,099 $ 2,179
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)