XML 67 R6.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income $ 1,538,210 $ 684,337 $ (132,743)
Adjustments to reconcile net income to net cash provided by operating activities:      
Policy charges and fee income (113,831) (163,640) (127,683)
Interest credited to policyholders' account balances 45,737 165,992 502,585
Realized investment (gains) losses, net 13,450 156,447 (262,083)
Amortization and other non-cash items (43,677) (56,322) (68,098)
Change in:      
Future policy benefits and other insurance liabilities 1,185,681 1,337,078 870,582
Reinsurance recoverables (1,211,151) (1,117,361) (798,474)
Accrued investment income (4,286) (6,372) 6,785
Receivables from parents and affiliates (88,490) 5,571 46,595
Payables to parent and affiliates (23,110) (855) 48,064
Deferred policy acquisition costs (1,346,386) (1,210,728) (123,100)
Income taxes payable 341,965 81,763 (412,217)
Deferred Sales Inducements (20,871) (199,005) (289,642)
Other, net (1,855) 7,961 156,698
Cash flows from (used in) operating activities 317,606 (313,424) (678,859)
Proceeds from the sale/maturity/prepayment of:      
Fixed maturities, available for sale 1,570,701 1,019,890 1,069,922
Short-term investments 662,351 1,424,173 1,167,039
Policy loans 130,655 131,511 122,721
Proceeds from policy loans ceded 9,156 7,951 1,861
Commercial mortgage and other loans 207,340 149,621 82,098
Other long-term investments 12,933 11,557 10,612
Equity securities, available for sale 13,596 9,862 10,355
Trading account assets, at fair value 7,524 14,325 5,174
Payments for the purchase/origination of:      
Fixed maturities, available for sale (1,934,430) (1,646,619) (1,135,456)
Short-term investments (566,100) (1,253,361) (1,203,342)
Policy loans (101,357) (129,521) (102,230)
Payments from policy loans ceded (9,687) (16,320) (5,538)
Commercial mortgage and other loans (367,857) (239,086) (204,951)
Other long-term investments (84,859) (75,664) (70,641)
Equity securities, available for sale (10,574) (5,024) (8,528)
Trading account assets, at fair value (9,478) 0 0
Notes receivable from parent and affiliates, net 4,641 5,714 6,842
Other 160 (1,885) 2,757
Cash flows used in investing activities (464,223) (576,138) (243,951)
CASH FLOWS FROM FINANCING ACTIVITIES      
Policyholders' account deposits 3,091,818 4,154,752 3,044,607
Ceded policyholders' account deposits (413,181) (312,528) (117,916)
Policyholders' account withdrawals (2,399,425) (3,178,207) (2,555,035)
Ceded policyholders' account withdrawals 47,114 31,419 8,824
Net change in securities sold under agreements to repurchase and cash collateral for loaned securities 36,799 (146,074) 114,612
Dividend to parent 423,000 0 0
Net increase in short term borrowing (155,100) 29,000 129,000
Capital asset transfer activity (3,374) (20,900) 3,543
Drafts outstanding 239,000 453,000 277,000
Net change in long-term borrowing 21,100 3,786 (59,401)
Change in reinsurance recoverables 0 0 0
Cash flows from (used in) financing activities 41,751 1,014,248 845,234
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (104,866) 124,686 (77,576)
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 412,109 287,423 364,999
CASH AND CASH EQUIVALENTS, END OF PERIOD 307,243 412,109 287,423
Income Taxes Paid (250,087) 134,603 166,606
Interest Paid $ 40,209 $ 43,717 $ 33,104