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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net earnings $ 66,949 $ 112,028
Adjustments to reconcile net earnings to net cash from operating activities:    
Universal life and annuity contract interest (28,606) 122,818
Surrender charges and other policy revenues (9,761) (13,301)
Realized (gains) losses on investments (5,560) (4,831)
Accretion/amortization of discounts and premiums, investments (1,734) 945
Depreciation and amortization 6,896 6,631
Increase (decrease) in estimated credit losses on investments (413) 752
(Increase) decrease in value of debt securities trading 156,791 (10,271)
(Increase) decrease in value of equity securities 4,600 (3,698)
(Increase) decrease in value of derivative options 76,624 (68,190)
(Increase) decrease in deferred policy acquisition and sales inducement costs, and value of business acquired 24,380 2,876
(Increase) decrease in accrued investment income (526) 467
(Increase) decrease in reinsurance recoverable 87,357 79,375
(Increase) decrease in cost of reinsurance 5,511 7,131
(Increase) decrease in other assets 434 (2,485)
Increase (decrease) in liabilities for future policy benefits 43,768 (95,970)
Increase (decrease) in other policyholder liabilities 7,843 (4,063)
Increase (decrease) in Federal income tax liability (19,186) 16,438
Increase (decrease) in deferred Federal income tax 13,449 (635)
Increase (decrease) in funds withheld liability (277,048) (103,571)
Increase (decrease) in other liabilities (12,479) (36,690)
Net cash provided by operating activities 139,289 5,756
Proceeds from sales of:    
Debt securities available-for-sale 39,254 1,099,043
Debt securities trading 17,183 0
Other investments 2,804 10,853
Proceeds from maturities, redemptions, and prepayments of:    
Debt securities available-for-sale 565,415 782,008
Debt securities trading 69,983 8,102
Other investments 16,138 9,685
Derivatives, index options 46,412 108,397
Purchases of:    
Debt securities available-for-sale (690,390) (928,573)
Debt securities trading (75,581) (1,064,566)
Equity securities (890) (10,543)
Derivatives, index options (26,377) (22,483)
Other investments (33,704) (30,908)
Property, equipment, and other productive assets (764) (4,823)
Principal payments on mortgage loans 18,872 8,053
Cost of mortgage loans acquired (44,139) (70,308)
Decrease (increase) in policy loans (157) 2,443
Other (increases) decreases to funds withheld (424) (69,377)
Net cash provided by (used in) investing activities (96,365) (172,997)
Cash flows from financing activities:    
Deposits to account balances for universal life and annuity contracts 210,438 329,742
Return of account balances on universal life and annuity contracts (437,626) (347,434)
Principal payments under finance lease obligation (169) (197)
Net cash provided by (used in) financing activities (227,357) (17,889)
Effect of foreign exchange 368 (96)
Net increase (decrease) in cash, cash equivalents, and restricted cash (184,065) (185,226)
Cash, cash equivalents, and restricted cash at beginning of period 714,624 581,059
Cash, cash equivalents and restricted cash at end of period 530,559 395,833
Cash paid during the period for:    
Interest 37 19
Income taxes 22,138 13,085
Noncash operating activities:    
Net deferral and amortization of sales inducements $ (2,213) $ 3,659