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CONSOLIDATED STATEMENTS OF CASH FLOWS
$ in Thousands
12 Months Ended
Dec. 31, 2016
USD ($)
Dec. 31, 2015
USD ($)
Dec. 31, 2014
USD ($)
Cash flows from operating activities      
Net Income (Loss) Attributable to Parent $ 701,443 $ 502,166 $ 684,047
Change in operating assets and liabilities:      
Accrued investment income (18,761) (48,458) (855)
Premiums receivable and other reinsurance balances (156,836) (313,882) (136,710)
Deferred policy acquisition costs 31,024 (66,633) 101,493
Reinsurance ceded receivable balances (53,221) (11,740) 39,345
Future policy benefits, other policy claims and benefits, and other reinsurance balances 810,474 1,867,488 1,625,561
Deferred income taxes 293,777 148,996 170,731
Other assets and other liabilities, net (98,675) (55,345) (17,244)
Amortization of net investment premiums, discounts and other (93,952) (77,303) (102,459)
Depreciation, Depletion and Amortization 26,853 31,103 15,309
Investment related (gains) losses, net (94,195) 164,750 (186,193)
Excess tax benefits from share-based payment arrangement (162) (2,963) 3,011
Other, net 117,949 (49,564) 140,119
Net cash provided by operating activities 1,465,718 2,088,615 2,336,155
Cash flows from investing activities      
Sales of fixed maturity securities available-for-sale 4,584,828 5,461,687 4,309,985
Principal payments on mortgage loans on real estate 472,435 439,640 539,789
Proceeds from Sale of Available-for-sale Securities, Equity 434,518 81,319 361,831
Proceeds from Sale and Collection of Mortgage Notes Receivable 442,755 383,828 479,908
Principal payments on policy loans 88,840 21,322 63,785
Payments to Acquire Available-for-sale Securities (7,414,647) (5,874,309) (6,129,956)
Payments to Acquire Available-for-sale Securities, Equity (584,532) (95,834) (72,593)
Purchases of fixed maturity securities available-for-sale (1,092,876) (810,092) (721,836)
Payments to Fund Policy Loans (47,646) (52,207) (103,599)
Cash invested in funds withheld at interest (32,597) (339,062) (86,588)
Purchase of businesses, net of cash acquired of $69,823 0 (145,235) 0
Payments to Acquire Property, Plant, and Equipment (44,642) (23,553) (88,361)
Increase (Decrease) in Payables under Repurchase Agreements 0 (101,203) 101,203
Change in short-term investments 465,628 (470,002) 38,060
Change in other invested assets (97,790) 91,960 (2,573)
Net cash used in investing activities (2,825,726) (1,431,741) (1,310,945)
Cash flows from financing activities      
Dividends to stockholders (100,371) (93,381) (87,256)
Repayment of collateral finance and securitization notes (64,571) (19,732) 0
Proceeds from Issuance of Secured Debt 0 164,220 300,000
Proceeds from long-term debt issuance 799,984 0 100,000
Debt issuance costs (8,766) (4,748) (4,260)
Principal payments of long-term debt (2,479) (2,380) (772)
Purchases of treasury stock (122,916) (384,519) (201,525)
Excess tax benefits from share-based payment arrangement 162 2,963 (3,011)
Exercise of stock options, net 15,321 11,151 9,246
Change in cash collateral for derivative positions and other arrangements 26,413 52,381 162,435
Deposits on universal life and other investment type policies and contracts 1,041,623 277,280 150,922
Withdrawals on universal life and other investment type policies and contracts (529,011) (711,517) (681,338)
Net cash used in financing activities 1,055,389 (708,282) (255,559)
Effect of exchange rate changes on cash (19,938) (68,986) (47,629)
Change in cash and cash equivalents (324,557) (120,394) 722,022
Cash and cash equivalents, beginning of period 1,525,275 1,645,669 923,647
Cash and cash equivalents, end of period 1,200,718 1,525,275 1,645,669
Supplementary information:      
Interest paid 156,727 148,124 136,499
Income taxes paid, net of refunds 61,085 41,577 70,342
Transfer to Investments 120,500 2,092,558 2,001,439
Capital Expenditures Incurred but Not yet Paid 0 253 24,458
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities 0 3,894,940 0
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets $ 0 $ 4,040,175 $ 0