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Schedule II - Condensed Financial Information of Registrant
 12 Months Ended
Dec. 31, 2022
Condensed Financial Information Disclosure [Abstract]  
Schedule II - Condensed Financial Information of Registrant
December 31,
20222021
Assets
Cash and cash equivalents$531,347 $362,245 
Equity securities of subsidiary trusts2,360 2,353 
Receivable from subsidiaries8,868 2,783 
Notes receivable from subsidiaries85,654 165,000 
Federal income tax recoverable, including amount from subsidiaries267,076 217,174 
Other assets33,990 20,134 
929,295 769,689 
Investment in and advances to subsidiaries3,437,579 6,387,912 
Total assets$4,366,874 $7,157,601 
Liabilities and Stockholders' Equity
Liabilities:
Notes and loan payable$792,073 $496,250 
Subordinated debentures payable to subsidiary trusts78,753 78,421 
Deferred income taxes268,639 223,304 
Other liabilities58,186 36,499 
Total liabilities1,197,651 834,474 
Stockholders' equity:
Preferred stock, Series A16 16 
Preferred stock, Series B12 12 
Common stock84,810 92,514 
Additional paid-in capital1,325,316 1,614,374 
Accumulated other comprehensive income (loss)(2,155,055)1,848,789 
Retained earnings3,914,124 2,767,422 
Total stockholders' equity attributable to American Equity Investment Life Holding Company3,169,223 6,323,127 
Total liabilities and stockholders' equity$4,366,874 $7,157,601 

See accompanying note to condensed financial statements.
See accompanying Report of Independent Registered Public Accounting Firm.
Year Ended December 31,
202220212020
Revenues:
Net investment income$6,733 $114 $1,115 
Dividends from subsidiary trusts155 159 167 
Dividends from subsidiaries325,000 250,000 — 
Investment advisory fees110,094 126,643 114,228 
Surplus note interest from subsidiary4,080 4,080 4,080 
Change in fair value of derivatives— — 62 
Loss on extinguishment of debt— — (2,024)
Other revenue19,153 8,511 346 
Total revenues465,215 389,507 117,974 
Expenses:
Interest expense on notes and loan payable32,098 25,581 25,552 
Interest expense on subordinated debentures issued to subsidiary trusts5,331 5,324 5,557 
Other operating costs and expenses114,792 72,435 46,686 
Total expenses152,221 103,340 77,795 
Income before income taxes and equity in undistributed income of subsidiaries312,994 286,167 40,179 
Income tax expense (benefit)(1,067)11,565 13,142 
Income before equity in undistributed income of subsidiaries314,061 274,602 27,037 
Equity in undistributed income of subsidiaries906,883 199,390 644,423 
Net income available to American Equity Investment Life Holding Company stockholders1,220,944 473,992 671,460 
Less: Preferred stock dividends43,675 43,675 33,515 
Net income available to American Equity Investment Life Holding Company common stockholders$1,177,269 $430,317 $637,945 

See accompanying note to condensed financial statements.
See accompanying Report of Independent Registered Public Accounting Firm.
Year Ended December 31,
202220212020
Operating activities
Net income available to American Equity Investment Life Holding Company stockholders$1,220,944 $473,992 $671,460 
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for depreciation and amortization4,925 1,232 1,138 
Accrual of discount on equity security(7)(10)(3)
Equity in undistributed income of subsidiaries(906,883)(199,390)(644,423)
Non cash dividend from subsidiaries— (80,000)— 
Change in fair value of derivatives— — (62)
Loss on extinguishment of debt— — 2,024 
Accrual of discount on debenture issued to subsidiary trust332 309 289 
Share-based compensation6,023 10,235 3,303 
Deferred income taxes45,335 222,714 6,408 
Changes in operating assets and liabilities:
Receivable from subsidiaries(6,085)(365)(1,208)
Federal income tax recoverable/payable(49,902)(222,569)(3,879)
Other assets(16,363)(5,054)(320)
Other liabilities21,687 21,819 7,617 
Net cash provided by operating activities320,006 222,913 42,344 
Investing activities
Change in notes receivable from subsidiaries79,346 (165,000)— 
Repayment of equity securities— — 2,445 
Contribution to subsidiaries(137,002)— (210,000)
Purchases of property, plant and equipment(1,432)(12,642)(48)
Net cash used in investing activities(59,088)(177,642)(207,603)
Financing activities
Financing fees incurred and deferred(1,235)— — 
Repayment of loan payable(3,750)— — 
Proceeds from issuance of loan payable300,000 — — 
Repayment of subordinated debentures— — (81,450)
Proceeds from issuance of common stock253,978 4,844 338,061 
Acquisition of treasury stock(566,567)(99,415)(165,094)
Proceeds from issuance of preferred stock, net— — 290,260 
Dividends paid on common stock(30,567)(31,450)(28,859)
Dividends paid on preferred stock(43,675)(43,675)(33,515)
Net cash provided by (used in) financing activities(91,816)(169,696)319,403 
Increase (decrease) in cash and cash equivalents169,102 (124,425)154,144 
Cash and cash equivalents at beginning of year362,245 486,670 332,526 
Cash and cash equivalents at end of year$531,347 $362,245 $486,670 
Supplemental disclosures of cash flow information
Cash paid during the year for:
Interest on notes and loan payable$31,288 $25,000 $25,000 
Interest on subordinated debentures5,000 5,000 6,181 
See accompanying note to condensed financial statements.
See accompanying Report of Independent Registered Public Accounting Firm.
1.     Basis of Presentation
The accompanying condensed financial statements should be read in conjunction with the consolidated financial statements and notes thereto of American Equity Investment Life Holding Company (Parent Company).
In the Parent Company financial statements, its investment in and advances to subsidiaries are stated at cost plus equity in undistributed income (losses) of subsidiaries since the date of acquisition and net unrealized gains/losses on the subsidiaries' fixed maturity securities classified as "available for sale" and equity securities.
See Note 10- Notes and Loan Payable and Note 11 - Subordinated Debentures to our audited consolidated financial statements in this Form 10-K for a description of the Parent Company's notes payable and subordinated debentures payable to subsidiary trusts.