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Unaudited Interim Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ 368,675 $ 298,659
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Policy charges and fee income 78,763 (631)
Interest credited to policyholders’ account balances 214,407 165,720
Realized investment (gains) losses, net (915,613) 111,631
Amortization and other non-cash items (21,890) (36,806)
Change in:    
Future policy benefits 659,730 753,124
Reinsurance recoverables (326,993) (767,317)
Accrued investment income 18,952 (3,085)
Net payable to/receivable from parent and affiliates (33,754) (13,058)
Deferred policy acquisition costs 408,155 (7,934)
Income taxes (78,531) (14,390)
Deferred sales inducements (1,825) (3,969)
Derivatives, net (182,828) (65,542)
Other, net (181,862) (24,523)
Cash flows from (used in) operating activities 5,386 391,879
Proceeds from the sale/maturity/prepayment of:    
Fixed maturities, available-for-sale 798,298 431,458
Short-term investments 238,471 500,631
Policy loans 71,542 60,685
Ceded policy loans (4,807) (3,639)
Commercial mortgage and other loans 159,171 49,051
Other long-term investments 3,365 6,902
Equity securities, available-for-sale 28,452 0
Trading account assets 0 991
Payments for the purchase/origination of:    
Fixed maturities, available-for-sale (1,410,624) (852,120)
Short-term investments (225,819) (456,792)
Policy loans (60,677) (52,453)
Ceded policy loans 8,355 5,868
Commercial mortgage and other loans (133,580) (114,378)
Other long-term investments (18,853) (21,089)
Equity securities, available-for-sale (5,000) (5,010)
Trading account assets 0 (12,001)
Notes receivable from parent and affiliates, net 19,100 8,470
Derivatives, net (5,019) (7,777)
Other, net 0 1,164
Cash flows from (used in) investing activities (537,625) (460,039)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Policyholders’ account deposits 2,105,500 1,763,866
Ceded policyholders’ account deposits (584,464) (497,677)
Policyholders’ account withdrawals (1,252,615) (1,006,256)
Ceded policyholders’ account withdrawals 32,053 26,208
Net change in cash collateral for loaned securities 116,272 44,380
Dividend to parent 0 (230,000)
Contributed capital 205,000 0
Contributed (distributed) capital - parent/child asset transfers 1,676 (18,739)
Proceeds from the issuance of debt (maturities longer than 90 days) 0 72,000
Repayments of debt (maturities longer than 90 days) (125,000) (129,000)
Drafts outstanding (9,657) (73)
Cash flows from (used in) financing activities 488,765 24,709
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (43,474) (43,451)
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 370,286 214,952
CASH AND CASH EQUIVALENTS, END OF PERIOD $ 326,812 $ 171,501