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Unaudited Interim Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ (24,987) $ 103,377
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Policy charges and fee income (21,815) (28,138)
Interest credited to policyholders’ account balances 163,526 56,170
Realized investment (gains) losses, net (784,107) (76,608)
Amortization and other non-cash items (1,043) (17,211)
Change in:    
Future policy benefits 429,299 629,659
Reinsurance recoverables 61,230 (597,841)
Accrued investment income 177 (4,115)
Net payables to/receivables from parent and affiliates 13,342 25,571
Deferred policy acquisition costs 113,058 (176,017)
Income taxes (78,724) (45,258)
Derivatives, net (970,491) (97,539)
Other, net 1,094,633 80,694
Cash flows from (used in) operating activities (5,902) (147,256)
Proceeds from the sale/maturity/prepayment of:    
Fixed maturities, available-for-sale 397,074 108,725
Fixed maturities, trading 260,266 0
Equity securities 108,979 98,680
Policy loans 45,522 44,593
Ceded policy loans (29,420) (4,533)
Short-term investments 156,639 74,984
Commercial mortgage and other loans 46,204 61,607
Other invested assets 24,698 14,688
Payments for the purchase/origination of:    
Fixed maturities, available-for-sale (1,257,876) (510,669)
Fixed maturities, trading (18,641) (1,370)
Equity securities (30,573) 0
Policy loans (31,465) (27,122)
Ceded policy loans 15,297 2,254
Short-term investments (21,748) (28,991)
Commercial mortgage and other loans (201,771) (33,840)
Other invested assets (35,431) (13,659)
Notes receivable from parent and affiliates, net 140 (28)
Derivatives, net (18,925) (10,823)
Other, net 45,054 (1,376)
Cash flows from (used in) investing activities (545,977) (226,880)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Policyholders’ account deposits 2,578,123 1,036,026
Ceded policyholders’ account deposits (321,589) (820,018)
Policyholders’ account withdrawals (973,023) (750,479)
Ceded policyholders’ account withdrawals 157,877 663,049
Net change in securities sold under agreement to repurchase and cash collateral for loaned securities (300) 0
Contributed capital 0 100,000
Drafts outstanding 23,673 3,837
Other, net 254 (9,531)
Cash flows from (used in) financing activities 1,465,015 222,884
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 913,136 (151,252)
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 918,931 426,979
CASH AND CASH EQUIVALENTS, END OF PERIOD 1,832,067 275,727
Significant Non-Cash Transactions    
Non-cash activities   $ 0
Lotus Re    
Significant Non-Cash Transactions    
Non-cash activities $ 525,000