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Unaudited Interim Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ 330,251 $ 70,283
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Policy charges and fee income (104,864) (22,018)
Interest credited to policyholders’ account balances 286,470 103,570
Realized investment (gains) losses, net (1,498,816) 45,894
Amortization and other non-cash items 114,365 (31,361)
Change in:    
Future policy benefits 1,476,307 924,447
Reinsurance recoverables (651,569) (934,329)
Accrued investment income (22,745) (3,714)
Net payables to/receivables from parent and affiliates 72,538 84,598
Deferred policy acquisition costs 147,096 (337,488)
Income taxes (90,806) (71,050)
Derivatives, net (1,186,480) (40,879)
Other, net 1,911,271 70,192
Cash flows from (used in) operating activities 783,018 (141,855)
Proceeds from the sale/maturity/prepayment of:    
Fixed maturities, available-for-sale 877,701 470,550
Fixed maturities, trading 858,989 0
Equity securities 109,213 99,345
Policy loans 83,894 86,862
Ceded policy loans (54,926) (7,292)
Short-term investments 195,709 78,980
Commercial mortgage and other loans 113,924 85,893
Other invested assets 58,993 30,518
Payments for the purchase/origination of:    
Fixed maturities, available-for-sale (3,522,783) (997,806)
Fixed maturities, trading (67,781) (1,370)
Equity securities (232,161) (41,074)
Policy loans (74,108) (60,691)
Ceded policy loans 35,490 5,139
Short-term investments (278,180) (28,991)
Commercial mortgage and other loans (403,331) (85,567)
Other invested assets (64,361) (31,094)
Notes receivable from parent and affiliates, net 278 (57)
Derivatives, net (259,219) (5,011)
Other, net 52,879 (2,305)
Cash flows from (used in) investing activities (2,569,780) (403,971)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Policyholders’ account deposits 5,275,227 2,103,227
Ceded policyholders’ account deposits (608,678) (1,683,933)
Policyholders’ account withdrawals (2,381,708) (1,594,433)
Ceded policyholders’ account withdrawals 288,895 1,386,684
Net change in securities sold under agreement to repurchase and cash collateral for loaned securities 147,670 0
Contributed capital 0 100,000
Contributed (distributed) capital - parent/child asset transfers (165) 0
Drafts outstanding (58,729) 47,280
Other, net (4,929) (1,765)
Cash flows from (used in) financing activities 2,657,583 357,060
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 870,821 (188,766)
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 918,931 426,979
CASH AND CASH EQUIVALENTS, END OF PERIOD 1,789,752 238,213
Significant Non-Cash Transactions    
Non-cash activities   $ 0
Lotus Re    
Significant Non-Cash Transactions    
Non-cash activities 525,000  
FLIAC    
Significant Non-Cash Transactions    
Non-cash activities $ 811,000