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Unaudited Interim Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) [1] $ 279,679 $ (482,207)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Policy charges and fee income [1] 17,704 39,967
Interest credited to policyholders’ account balances [1] 160,222 112,019
Realized investment (gains) losses, net 120,679 [2] (353,281) [1]
Change in value of market risk benefits, net of related hedging (gains) losses [1] (20,202) 437,868
Change in:    
Future policy benefits [1] 484,712 422,575
Reinsurance recoverables [1] (45,521) 128,176
Accrued investment income (30,022) 177
Net payables to/receivables from parent and affiliates (26,556) 13,342
Deferred policy acquisition costs [1] (109,244) (121,091)
Income taxes [1] 55,566 (275,052)
Derivatives, net (225,835) (970,491)
Other, net [1],[3] (76,628) 1,042,096
Cash flows from (used in) operating activities 584,554 (5,902)
Proceeds from the sale/maturity/prepayment of:    
Fixed maturities, available-for-sale 410,373 397,074
Fixed maturities, trading 20,383 260,266
Equity securities 44,737 108,979
Policy loans 49,376 45,522
Ceded policy loans (36,100) (29,420)
Short-term investments 54,461 156,639
Commercial mortgage and other loans 39,507 46,204
Other invested assets 2,662 24,698
Payments for the purchase/origination of:    
Fixed maturities, available-for-sale (2,262,838) (1,257,876)
Fixed maturities, trading (238,718) (18,641)
Equity securities (84,161) (30,573)
Policy loans (44,573) (31,465)
Ceded policy loans 27,008 15,297
Short-term investments (196,042) (21,748)
Commercial mortgage and other loans (170,647) (201,771)
Other invested assets (41,722) (35,431)
Notes receivable from parent and affiliates, net 66 140
Derivatives, net 8,058 (18,925)
Other, net 16,146 45,054
Cash flows from (used in) investing activities (2,402,024) (545,977)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Policyholders’ account deposits 2,609,854 2,578,123
Ceded policyholders’ account deposits (299,058) (321,589)
Policyholders’ account withdrawals (954,813) (973,023)
Ceded policyholders’ account withdrawals 158,338 157,877
Net change in securities sold under agreement to repurchase and cash collateral for loaned securities 72,809 (300)
Contributed capital 405,000 0
Contributed (distributed) capital - parent/child asset transfers 2,368 0
Net change in all other financing arrangements (maturities 90 days or less) 681 0
Drafts outstanding (60,532) 23,673
Other, net (26,049) 254
Cash flows from (used in) financing activities 1,908,598 1,465,015
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 91,128 913,136
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 2,397,627 918,931
CASH AND CASH EQUIVALENTS, END OF PERIOD 2,488,755 1,832,067
FLIAC    
Significant Non-Cash Transactions    
Non-cash activities $ 6,000  
Lotus Re    
Significant Non-Cash Transactions    
Non-cash activities   525,000
The Prudential Insurance Company of America    
Significant Non-Cash Transactions    
Non-cash activities   $ 8,000
[1] Prior period amounts adjusted for the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.
[2] Prior period amounts adjusted for the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.
[3] Prior period has been reclassified to conform to the current period presentation.