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CONSOLIDATED STATEMENTS OF CASH FLOWS
$ in Thousands
12 Months Ended
Dec. 31, 2015
USD ($)
Dec. 31, 2014
USD ($)
Dec. 31, 2013
USD ($)
Cash flows from operating activities      
Net Income (Loss) Attributable to Parent $ 502,166 $ 684,047 $ 418,837
Change in operating assets and liabilities, net of acquisition:      
Accrued investment income (48,458) (855) (69,875)
Premiums receivable and other reinsurance balances (313,882) (136,710) (106,136)
Deferred policy acquisition costs (66,633) 101,493 58,313
Reinsurance ceded receivable balances (11,740) 39,345 62,058
Future policy benefits, other policy claims and benefits, and other reinsurance balances 1,867,488 1,625,561 1,429,697
Deferred income taxes 148,996 170,731 230,778
Other assets and other liabilities, net (55,345) (17,244) (186,978)
Amortization of net investment premiums, discounts and other (77,303) (102,459) (95,547)
Investment related (gains) losses, net 164,750 (186,193) (63,990)
Gain on repurchase of collateral finance notes 0 0 (46,506)
Excess tax benefits from share-based payment arrangement (2,963) 3,011 (3,125)
Other, net (18,461) 155,428 99,634
Net cash provided by operating activities 2,088,615 2,336,155 1,727,160
Cash flows from investing activities      
Sales of fixed maturity securities available-for-sale 5,461,687 4,309,985 3,629,378
Principal payments on mortgage loans on real estate 439,640 539,789 155,237
Proceeds from Sale and Collection of Mortgage Notes Receivable 383,828 479,908 391,654
Principal payments on policy loans 21,322 63,785 33,724
Payments to Acquire Available-for-sale Securities (5,874,309) (6,129,956) (4,766,275)
Purchases of fixed maturity securities available-for-sale (810,092) (721,836) (613,413)
Payments to Fund Policy Loans (52,207) (103,599) (18)
Cash invested in funds withheld at interest (339,062) (86,588) (90,707)
Purchase of businesses, net of cash acquired of $69,823, $0 and $9,709 (145,235) 0 (2,805)
Payments to Acquire Property, Plant, and Equipment (23,553) (88,361) 0
Increase (Decrease) in Payables under Repurchase Agreements (101,203) 101,203 0
Change in short-term investments (470,002) 38,060 138,024
Change in other invested assets 77,445 286,665 (209,900)
Net cash used in investing activities (1,431,741) (1,310,945) (1,335,101)
Cash flows from financing activities      
Dividends to stockholders (93,381) (87,256) (77,642)
Repayment of collateral finance and securitization notes (19,732) 0 (119,255)
Proceeds from Issuance of Secured Debt 164,220 300,000 0
Proceeds from long-term debt issuance 0 100,000 398,492
Debt issuance costs (4,748) (4,260) (3,400)
Principal payments of long-term debt (2,380) (772) 0
Purchases of treasury stock (384,519) (201,525) (269,204)
Excess tax benefits from share-based payment arrangement 2,963 (3,011) 3,125
Exercise of stock options, net 11,151 9,246 28,390
Change in cash collateral for derivative positions and other arrangements 52,381 162,435 (73,338)
Deposits on universal life and other investment type policies and contracts 277,280 150,922 201,957
Withdrawals on universal life and other investment type policies and contracts (711,517) (681,338) (770,338)
Net cash used in financing activities (708,282) (255,559) (681,213)
Effect of exchange rate changes on cash (68,986) (47,629) (47,091)
Change in cash and cash equivalents (120,394) 722,022 (336,245)
Cash and cash equivalents, beginning of period 1,645,669 923,647 1,259,892
Cash and cash equivalents, end of period 1,525,275 1,645,669 923,647
Supplementary information:      
Interest paid 148,124 136,499 116,809
Income taxes paid, net of refunds 41,577 70,342 110,773
Transfer to Investments 2,092,558 2,001,439 0
Capital Expenditures Incurred but Not yet Paid 253 24,458 0
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities (3,894,940) 0 (134,791)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets $ 4,040,175 $ 0 $ 137,596