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Unaudited Interim Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ (820,788) $ (900,024)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Policy charges and fee income (31) (259)
Realized investment (gains) losses, net 757,691 1,342,219
Depreciation and amortization 145 (1,162)
Interest credited to policyholders’ account balances 112,970 10,427
Change in:    
Future policy benefits 498,277 235,812
Accrued investment income (4,676) (5,350)
Net receivables from/payables to parent and affiliates 8,112 8,156
Deferred sales inducements (582) (327)
Deferred policy acquisition costs 340,757 (107,724)
Income taxes (237,653) 20,754
Reinsurance recoverables, net (7,176) 21,307
Derivatives, net 12,740,695 (428,685)
Other, net 4,824 (4,705)
Cash flows from (used in) operating activities 13,392,565 190,439
Proceeds from the sale/maturity/prepayment of:    
Fixed maturities, available-for-sale 267,555 271,473
Fixed maturities, trading 38 36
Equity securities 1,026 802
Commercial mortgage and other loans 7,953 105,399
Policy loans 307 341
Other invested assets 12,759 18,880
Short-term investments 374,890 19,885
Payments for the purchase/origination of:    
Fixed maturities, available for sale (686,699) (2,232,403)
Fixed maturities, trading 0 (33,423)
Equity securities (11,648) (5,570)
Commercial mortgage and other loans (60,454) (20,112)
Policy loans (70) (76)
Other invested assets (45,053) (37,103)
Short-term investments (2,057,951) (105,029)
Notes receivable from parent and affiliates, net 0 34,008
Derivatives, net (232,861) (21,069)
Other, net 0 (1)
Cash flows from (used in) investing activities (2,430,208) (2,003,962)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Policyholders' account deposits 1,478,968 964,888
Ceded policyholders' account deposits (26,187) (7,215)
Policyholders' account withdrawals (1,029,198) (884,357)
Ceded policyholders' account withdrawals 9,447 16,323
Cash collateral for loaned securities 0 (384)
Repayments of debt (maturities longer than 90 days) 0 (134,000)
Net increase/(decrease) in short-term borrowing (7,916) 0
Drafts outstanding (10,701) (3,671)
Distribution to Parent (207,000) (245,000)
Other, net (19,573) 0
Cash flows from (used in) financing activities 187,840 (293,416)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 11,150,197 (2,106,939)
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 2,795,163 4,503,534
CASH AND CASH EQUIVALENTS, END OF PERIOD $ 13,945,360 $ 2,396,595