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CONSOLIDATED STATEMENTS OF CASH FLOWS
$ in Thousands
12 Months Ended
Dec. 31, 2017
USD ($)
Dec. 31, 2016
USD ($)
Dec. 31, 2015
USD ($)
Cash flows from operating activities      
Net Income (Loss) Attributable to Parent $ 1,822,181 $ 701,443 $ 502,166
Change in operating assets and liabilities:      
Accrued investment income (43,142) (18,761) (48,458)
Premiums receivable and other reinsurance balances (346,737) (156,836) (313,882)
Deferred policy acquisition costs 154,234 31,024 (66,633)
Reinsurance ceded receivable balances (124,056) (53,221) (11,740)
Future policy benefits, other policy claims and benefits, and other reinsurance balances 1,320,810 810,474 1,867,488
Deferred income taxes (847,304) 293,777 148,996
Other assets and other liabilities, net 242,466 (98,675) (55,345)
Amortization of net investment premiums, discounts and other (105,382) (93,952) (77,303)
Depreciation, Depletion and Amortization 52,902 26,853 31,103
Investment related (gains) losses, net (167,880) (94,195) 164,750
Excess tax benefits from share-based payment arrangement 0 (162) (2,963)
Other, net 24,216 117,949 (49,564)
Net cash provided by operating activities 1,982,308 1,465,718 2,088,615
Cash flows from investing activities      
Sales of fixed maturity securities available-for-sale 7,308,608 4,584,828 5,461,687
Principal payments on mortgage loans on real estate 589,214 472,435 439,640
Proceeds from Sale of Available-for-sale Securities, Equity 207,347 434,518 81,319
Proceeds from Sale and Collection of Mortgage Notes Receivable 339,919 442,755 383,828
Proceeds from Collection of Policy Loans 114,586 88,840 21,322
Payments to Acquire Available-for-sale Securities (8,941,293) (7,414,647) (5,874,309)
Payments to Acquire Available-for-sale Securities, Equity (81,254) (584,532) (95,834)
Purchases of fixed maturity securities available-for-sale (964,421) (1,092,876) (810,092)
Payments to Fund Policy Loans (44,607) (47,646) (52,207)
Cash invested in funds withheld at interest (22,557) (32,597) (339,062)
Purchase of businesses, net of cash acquired of $69,823 0 0 (145,235)
Payments to Acquire Property, Plant, and Equipment (44,211) (44,642) (23,553)
Increase (Decrease) in Payables under Repurchase Agreements 0 0 (101,203)
Change in short-term investments 52,302 465,628 (470,002)
Change in other invested assets (121,206) (97,790) 91,960
Net cash used in investing activities (1,607,573) (2,825,726) (1,431,741)
Cash flows from financing activities      
Dividends to stockholders (117,291) (100,371) (93,381)
Repayment of collateral finance and securitization notes (68,429) (64,571) (19,732)
Proceeds from Issuance of Secured Debt 0 0 164,220
Proceeds from long-term debt issuance 0 799,984 0
Debt issuance costs 0 (8,766) (4,748)
Principal payments of long-term debt (302,582) (2,479) (2,380)
Purchases of treasury stock (43,508) (122,916) (384,519)
Excess tax benefits from share-based payment arrangement 0 162 2,963
Exercise of stock options, net 7,292 15,321 11,151
Change in cash collateral for derivative positions and other arrangements (65,422) 26,413 52,381
Deposits on universal life and other investment type policies and contracts 1,017,699 1,041,623 277,280
Withdrawals on universal life and other investment type policies and contracts (752,381) (529,011) (711,517)
Net cash used in financing activities (324,622) 1,055,389 (708,282)
Effect of exchange rate changes on cash 52,693 (19,938) (68,986)
Change in cash and cash equivalents 102,806 (324,557) (120,394)
Cash and cash equivalents, beginning of period 1,200,718 1,525,275 1,645,669
Cash and cash equivalents, end of period 1,303,524 1,200,718 1,525,275
Supplementary information:      
Interest paid 173,471 156,727 148,124
Income taxes paid, net of refunds 37,098 61,085 41,577
Transfer to Investments 3,285,837 120,500 2,092,558
Capital Expenditures Incurred but Not yet Paid 0 0 253
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities 0 0 (3,894,940)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets $ 0 $ 0 $ 4,040,175