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Consolidated Statements of Cash Flows (USD $)
In Thousands
6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Operating activities    
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest $ 49,617 $ 13,381
Adjustments to reconcile net income to net cash provided by operating activities:    
Interest sensitive and index product benefits 398,085 425,687
Amortization of deferred sales inducements 50,957 16,332
Annuity product charges (36,854) (34,135)
Change in fair value of embedded derivatives 67,340 (126,336)
Increase in traditional life and accident and health insurance reserves 45,720 11,616
Policy acquisition costs deferred (222,358) (155,813)
Amortization of deferred policy acquisition costs 94,085 28,185
Provision for depreciation and other amortization 9,292 4,744
Amortization of discounts and premiums on investments (78,582) (122,658)
Realized gains on investments and net OTTI losses recognized 10,847 (6,925)
Change in fair value of derivatives (127,799) 125,469
Deferred income taxes (64,332) (68,812)
Loss on extinguishment of debt 0 292
Share-based compensation 4,181 3,975
Change in accrued investment income (47,812) 637
Change in income taxes recoverable/payable (3,308) 118,267
Change in other assets 2,182 6,641
Change in other policy funds and contract claims 95,560 34,767
Change in collateral held for derivatives 12,910 (244,816)
Change in other liabilities (74,889) (16,479)
Other 703 255
Net cash provided by operating activities 185,545 14,274
Sales, maturities, or repayments of investments:    
Fixed maturity securities - available for sale 3,244,966 2,038,295
Fixed maturity securities - held for investment 0 892,464
Equity securities - available for sale 2,958 23,020
Mortgage loans on real estate 86,079 53,277
Derivative instruments 275,473 307,799
Other investments 57 0
Acquisition of investments:    
Fixed maturity securities - available for sale (3,189,624) (3,641,409)
Fixed maturity securities - held for investment (1,279,831) 0
Equity securities - available for sale 0 (10,125)
Mortgage loans on real estate (296,884) (137,301)
Derivative instruments (189,759) (156,318)
Other investments (1,660) (81)
Purchases of property, furniture and equipment (3,552) (4,985)
Net cash used in investing activities (1,351,777) (635,364)
Financing activities    
Receipts credited to annuity policyholder account balances 2,450,646 1,893,642
Coinsurance deposits (37,196) (158,442)
Return of annuity policyholder account balances (898,472) (788,938)
Financing fees incurred and deferred (1,566) 0
Repayments of notes payable 0 (6,641)
Acquisition of common stock (6) (50)
Excess tax benefits realized from share-based compensation plans 1,117 250
Proceeds from issuance of common stock 4,255 1,864
Change in checks in excess of cash balance (828) (3,222)
Net cash provided by financing activities 1,517,950 938,463
Increase in cash and cash equivalents 351,718 317,373
Cash and cash equivalents at beginning of period 597,766 528,002
Cash and cash equivalents at end of period 949,484 845,375
Cash paid during period for:    
Interest expense 15,210 12,983
Income taxes 93,200 56,488
Income tax refunds received 0 100,000
Non-cash operating activity:    
Deferral of sales inducements 189,200 151,079
Non-cash investing activity:    
Real estate acquired in satisfaction of mortgage loans 6,308 4,300
Mortgage loan on real estate sold 1,215 0
Non-cash financing activities:    
Conversion of subordinated debentures $ 0 $ 56