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Unaudited Interim Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ 355,926 $ 1,889,813
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Policy charges and fee income (364) (331)
Realized investment (gains) losses, net (480,925) (3,129,136)
Depreciation and amortization 3,133 5,669
Interest credited to policyholders’ account balances 84,643 147,910
Change in:    
Future policy benefits 59,955 289,900
Accrued investment income 834 22,085
Net receivables from/payables to parent and affiliates (36,614) (10,134)
Deferred sales inducements 0 (965)
Deferred policy acquisition costs 103,680 243,468
Income taxes 142,234 493,813
Reinsurance recoverables, net (39,463) (12,290)
Derivatives, net (1,079,124) (4,325,229)
Other, net (2,760) 753,618
Cash flows from (used in) operating activities (888,845) (3,631,809)
Proceeds from the sale/maturity/prepayment of:    
Fixed maturities, available-for-sale 422,196 7,898,232
Fixed maturities, trading 155 2,015,501
Equity securities 94,976 1,333
Commercial mortgage and other loans 38,551 20,850
Policy loans 391 292
Other invested assets 926 5,058
Short-term investments 795,323 307,947
Payments for the purchase/origination of:    
Fixed maturities, available for sale (751,235) (1,847,341)
Fixed maturities, trading 0 (5,201,320)
Equity securities (314) (5,730)
Commercial mortgage and other loans (13,479) (56,582)
Policy loans (69) (30)
Other invested assets (105) (4,799)
Short-term investments (93,616) (3,194)
Derivatives, net 3,016 (34,308)
Other, net (61) 0
Cash flows from (used in) investing activities 496,655 3,095,909
CASH FLOWS FROM FINANCING ACTIVITIES:    
Policyholders' account deposits 774,569 2,503,057
Ceded policyholders' account deposits (5,830) (3,536)
Policyholders' account withdrawals (733,522) (1,029,911)
Ceded policyholders' account withdrawals 26,793 4,072
Cash collateral for loaned securities 205,301 0
Drafts outstanding (7,423) (3,171)
Distribution to parent (305,772) (192,000)
Other, net 0 (2,338)
Cash flows from (used in) financing activities (45,884) 1,276,173
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (438,074) 740,273
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 2,015,885 1,069,211
CASH AND CASH EQUIVALENTS, END OF PERIOD 1,577,811 1,809,484
Significant Non-Cash Transactions    
Non-cash activities $ 0 $ 0