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Unaudited Interim Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ (434,262) $ 279,679
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Policy charges and fee income (3,067,235) 17,704
Interest credited to policyholders’ account balances 224,258 160,222
Realized investment (gains) losses, net (108,643) 120,679
Change in value of market risk benefits, net of related hedging (gains) losses (91,591) (20,202)
Change in:    
Future policy benefits and other insurance liabilities 709,006 484,712
Reinsurance recoverables 415,037 (45,521)
Accrued investment income (19,317) (30,022)
Net payables to/receivables from parent and affiliates 53,794 (26,556)
Deferred policy acquisition costs (462,777) (109,244)
Income taxes (51,422) 55,566
Derivatives, net (23,220) (225,835)
Other, net 3,474,569 (76,628)
Cash flows from (used in) operating activities 618,197 584,554
Proceeds from the sale/maturity/prepayment of:    
Fixed maturities, available-for-sale 534,863 410,373
Fixed maturities, trading 109,671 20,383
Equity securities 599,147 44,737
Policy loans 43,678 49,376
Ceded policy loans (175,584) (36,100)
Short-term investments 203,345 54,461
Commercial mortgage and other loans 138,763 39,507
Other invested assets 47,619 2,662
Payments for the purchase/origination of:    
Fixed maturities, available-for-sale (2,738,376) (2,262,838)
Fixed maturities, trading (521,570) (238,718)
Equity securities (355,267) (84,161)
Policy loans (64,385) (44,573)
Ceded policy loans 46,827 27,008
Short-term investments (495,831) (196,042)
Commercial mortgage and other loans (309,826) (170,647)
Other invested assets (146,510) (41,722)
Notes receivable from parent and affiliates, net (120,777)  
Notes receivable from parent and affiliates, net   66
Derivatives, net (17,634) 8,058
Other, net 7,478 16,146
Cash flows from (used in) investing activities (3,214,369) (2,402,024)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Policyholders’ account deposits 4,110,730 2,609,854
Ceded policyholders’ account deposits (278,292) (299,058)
Policyholders’ account withdrawals (1,027,050) (954,813)
Ceded policyholders’ account withdrawals 236,285 158,338
Net change in securities sold under agreement to repurchase and cash collateral for loaned securities (214,607) 72,809
Contributed / (return of) capital 0  
Contributed / (return of) capital   405,000
Contributed (distributed) capital - parent/child asset transfers 7,481 2,368
Net change in all other financing arrangements (maturities 90 days or less) (1,296) 681
Drafts outstanding (69,072) (60,532)
Other, net 49,959 (26,049)
Cash flows from (used in) financing activities 2,814,138 1,908,598
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 217,966 91,128
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 2,139,792 2,397,627
CASH AND CASH EQUIVALENTS, END OF PERIOD $ 2,357,758 $ 2,488,755