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Unaudited Interim Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ (2,759,162) $ (1,296,306)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Policy charges and fee income (194) (854)
Realized investment (gains) losses, net 4,379,429 2,773,701
Depreciation and amortization 1,288 453
Interest credited to policyholders’ account balances 161,000 100,729
Change in:    
Future policy benefits 1,014,611 839,804
Accrued investment income (14,442) (7,767)
Net receivables from/payables to parent and affiliates (12,673) 3,589
Deferred sales inducements (1,049) (568)
Deferred policy acquisition costs 205,496 (155,778)
Income taxes (636,990) (693,049)
Reinsurance recoverables, net (37,789) (27,373)
Derivatives, net 5,063,948 3,144,906
Other, net (32,760) 25,324
Cash flows from (used in) operating activities 7,330,713 4,706,811
Proceeds from the sale/maturity/prepayment of:    
Fixed maturities, available-for-sale 572,885 596,626
Fixed maturities, trading 159,732 111
Equity securities 29,057 2,534
Commercial mortgage and other loans 25,308 247,723
Policy loans 1,045 1,256
Other invested assets 27,263 23,072
Short-term investments 6,320,503 491,254
Payments for the purchase/origination of:    
Fixed maturities, available for sale (3,005,885) (2,646,186)
Fixed maturities, trading (543,613) (54,862)
Equity securities (16,019) (51,229)
Commercial mortgage and other loans (232,974) (239,275)
Policy loans (73) (288)
Other invested assets (147,298) (128,402)
Short-term investments (7,800,148) (1,071,423)
Notes receivable from parent and affiliates, net 0 34,008
Derivatives, net (774,629) (76,670)
Other, net 0 0
Cash flows from (used in) investing activities (5,384,846) (2,871,751)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Policyholders' account deposits 4,455,177 3,034,018
Ceded policyholders' account deposits (33,061) (13,881)
Policyholders' account withdrawals (3,070,114) (2,452,263)
Ceded policyholders' account withdrawals 29,759 28,760
Cash collateral for loaned securities 0 (384)
Repayments of debt (maturities longer than 90 days) 0 (274,569)
Net increase/(decrease) in short-term borrowing 11,322 0
Drafts outstanding (12,968) (455)
Distribution to Parent (572,000) (736,500)
Other, net (47,209) 0
Cash flows from (used in) financing activities 760,906 (415,274)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 2,706,773 1,419,786
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 2,795,163 4,503,534
CASH AND CASH EQUIVALENTS, END OF PERIOD $ 5,501,936 $ 5,923,320