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Unaudited Interim Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ (138,225) $ (1,458,895)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Policy charges and fee income (663) (107)
Realized investment (gains) losses, net 1,497,589 2,461,936
Depreciation and amortization (4,690) 4,449
Interest credited to policyholders’ account balances (89,932) 186,800
Change in:    
Future policy benefits 484,283 315,248
Accrued investment income 143 (56,317)
Net receivables from/payables to parent and affiliates 3,516 (67,903)
Deferred sales inducements (534) (1,021)
Deferred policy acquisition costs (446,552) 184,639
Income taxes (306,403) (1,012,760)
Reinsurance recoverables, net 7,319 264,403
Derivatives, net (60,561) 9,959,323
Deferred (gain)/loss on reinsurance 21,386 311,345
Other, net 50,281 (195,029)
Cash flows from (used in) operating activities 1,016,957 10,896,111
Proceeds from the sale/maturity/prepayment of:    
Fixed maturities, available-for-sale 581,713 3,394,668
Commercial mortgage and other loans 39,646 46,114
Trading account assets 1,676 869
Policy loans 846 1,172
Other long-term investments 69,666 1,462
Short-term investments 1,530,778 705,392
Payments for the purchase/origination of:    
Fixed maturities, available-for-sale (757,926) (3,635,594)
Commercial mortgage and other loans (167,107) (113,832)
Trading account assets (1,135) (1,814)
Policy loans (295) (260)
Other long-term investments (3,830) (31,020)
Short-term investments (585,836) (1,112,514)
Notes receivable from parent and affiliates, net 635 (12,765)
Derivatives, net (12,616) (48,220)
Other, net 2,989 0
Cash flows from (used in) investing activities 699,204 (806,342)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Cash collateral for loaned securities 9,679 1,251
Proceeds from the issuance of debt (maturities longer than 90 days) 0 125,000
Repayments of debt (maturities longer than 90 days) 0 (268,000)
Net increase/(decrease) in short-term borrowing (28,101) (1,000)
Drafts outstanding (6,703) (4,903)
Distribution to parent (100,000) 0
Contributed capital 0 781,125
Policyholders’ account deposits 1,253,531 1,135,720
Ceded policyholders' account deposits (3,925) (19,498)
Policyholders' account withdrawals (1,323,972) (1,191,679)
Ceded policyholders' account withdrawals 13,562 17,188
Cash flows from (used in) financing activities (185,929) 575,204
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 1,530,232 10,664,973
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 1,848,039 536
CASH AND CASH EQUIVALENTS, END OF PERIOD $ 3,378,271 $ 10,665,509