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Unaudited Interim Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ (2,577,002) $ (1,068,794)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Policy charges and fee income 59 (618)
Realized investment (gains) losses, net 4,133,455 2,236,434
Depreciation and amortization (327) (69)
Interest credited to policyholders’ account balances 79,716 43,782
Change in:    
Future policy benefits 709,681 518,143
Accrued investment income (13,593) (7,254)
Net receivables from/payables to parent and affiliates (12,182) (5,904)
Deferred sales inducements (847) (447)
Deferred policy acquisition costs 79,404 (180,893)
Income taxes (883,346) (238,375)
Reinsurance recoverables, net (27,746) (3,031)
Derivatives, net 8,242,322 777,708
Other, net (12,169) 13,117
Cash flows from (used in) operating activities 9,717,425 2,083,799
Proceeds from the sale/maturity/prepayment of:    
Fixed maturities, available-for-sale 464,413 404,235
Fixed maturities, trading 70,843 73
Equity securities 14,369 2,534
Commercial mortgage and other loans 21,007 117,869
Policy loans 529 1,069
Other invested assets 13,743 20,825
Short-term investments 2,829,379 384,990
Payments for the purchase/origination of:    
Fixed maturities, available for sale (2,399,294) (2,481,050)
Fixed maturities, trading (243,881) (54,862)
Equity securities (15,863) (26,246)
Commercial mortgage and other loans (207,350) (83,787)
Policy loans (73) (168)
Other invested assets (72,413) (74,670)
Short-term investments (6,134,853) (353,614)
Notes receivable from parent and affiliates, net 0 34,008
Derivatives, net (626,097) (31,536)
Other, net 0 0
Cash flows from (used in) investing activities (6,285,541) (2,140,330)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Policyholders' account deposits 2,768,113 1,981,101
Ceded policyholders' account deposits (30,493) (11,204)
Policyholders' account withdrawals (2,155,125) (1,670,995)
Ceded policyholders' account withdrawals 22,107 23,598
Cash collateral for loaned securities 0 (384)
Repayments of debt (maturities longer than 90 days) 0 (274,569)
Net increase/(decrease) in short-term borrowing (7,916) 0
Drafts outstanding 137,072 (4,650)
Distribution to Parent (380,000) (491,500)
Other, net (25,949) 0
Cash flows from (used in) financing activities 327,809 (448,603)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 3,759,693 (505,134)
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 2,795,163 4,503,534
CASH AND CASH EQUIVALENTS, END OF PERIOD $ 6,554,856 $ 3,998,400