AEL Stock Cash Flow Statements

American Equity Investment Life Holding Quarterly Cash Flow Statements Chart

Quarterly

Annual

Stock-Based Compensation

Operating Cash Flow

Investing Cash Flow

Financing Cash Flow

Free Cash Flow

Capital Expenditure

American Equity Investment Life Holding Quarterly Cash Flow Statements Table

Quarterly

Annual

Unit: USD	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-06-30	2018-03-31	2017-09-30	2017-06-30	2017-03-31	2016-03-31	2015-06-30	2015-03-31	2014-09-30	2014-06-30	2014-03-31	2013-06-30	2013-03-31	2012-09-30	2012-06-30	2012-03-31	2011-09-30

operating activities:
net income	154,000,000	-203,000,000	651,000,000	-332,000,000	18,355,000	342,645,000	-463,450,000	476,114,000	355,146,000	-155,891,000	-18,098,000	312,601,000	360,576,000	566,223,000	93,137,000	152,865,000	-54,694,000	282,684,000	8,742,000	667,200,000	-247,429,000	242,947,000	220,150,000	37,360,000	18,590,000	-30,010,000	93,903,000	140,962,000	56,957,000	26,946,000	53,939,000	-44,841,000	82,845,000	5,903,000	67,815,000	36,744,000	-9,753,000	120,113,000	26,031,000	-7,829,000	18,759,000	10,471,000	-13,068,000
adjustments to reconcile net income to net cash from operating activities:
other policy revenue	-172,000,000	-149,000,000	-173,000,000
accretion on investments	-206,000,000	-206,000,000	-164,000,000	-495,000,000
amortization of deferred policy acquisition costs, deferred sales inducements and value of business acquired	332,000,000	318,000,000	290,000,000
deferral of policy acquisition costs	-395,000,000	-327,000,000	-343,000,000	-373,000,000
losses (gains) on investments and derivatives	-230,000,000	308,000,000	343,000,000
other losses	9,000,000	-12,000,000
provisions for credit losses	-1,000,000	-2,000,000	77,000,000
income from real estate partnerships, investment funds and corporations	-91,000,000	-73,000,000	-46,000,000
distributions from real estate partnerships, investment funds and corporations	46,000,000	131,000,000	128,000,000
interest credited to policyholders' account balances
change in fair value of embedded derivatives	362,000,000	-134,000,000	-692,000,000	725,000,000	203,798,000	162,202,000	977,178,000	-451,806,000	213,764,000	404,440,000	342,409,000	-415,374,000	-885,984,000	-1,393,649,000	186,802,000	-536,404,000	273,713,000	-282,413,000	568,836,000	-1,732,497,000	1,126,935,000	-1,250,061,000	147,879,000	212,278,000	327,562,000	766,323,000	-101,949,000	-867,232,000	229,702,000	174,973,000	224,170,000	265,857,000	-219,601,000	51,213,000	-195,206,000	80,935,000	92,619,000	-408,409,000	363,272,000	188,201,000	-80,989,000	359,066,000	-205,565,000
depreciation and amortization	33,000,000	51,000,000	-2,000,000	83,000,000
deferred income taxes	98,000,000	-56,000,000	532,000,000	-332,000,000	-396,247,000	93,247,000	-124,960,000	133,452,000	100,538,000	-40,895,000	9,694,000	50,134,000	90,068,000	155,050,000	140,699,000	-39,662,000	-31,128,000	58,514,000	-30,194,000	178,397,000	-78,559,000	71,427,000	71,623,000	-3,469,000	102,000	-11,309,000	-3,665,000	-1,253,000	1,967,000	-37,295,000	-3,670,000	-45,276,000	25,637,000	-22,541,000	3,095,000	-5,558,000	-37,360,000	41,232,000	-2,451,000	-27,220,000	-1,806,000	-12,443,000	-14,588,000
changes in operating assets and liabilities:
insurance-related liabilities	169,000,000	652,000,000	384,000,000	189,000,000
premiums due and other receievables
funds withheld for reinsurance liabilities	-72,000,000	-84,000,000	-174,000,000
reinsurance recoverables and deposit assets	200,000,000	219,000,000	150,000,000	825,000,000
accrued investment income	29,000,000	-3,000,000	-60,000,000	-6,000,000
working capital and other	-206,000,000	-254,000,000	-1,398,000,000	164,000,000
cash flows from operating activities	535,000,000	671,000,000	418,000,000	727,000,000
investing activities:
acquisition of subsidiary, net of cash acquired			-2,821,000,000	0
purchase of investments:
available-for-sale fixed maturity securities
equity securities	-21,000,000	-36,000,000	-149,000,000	-140,000,000
mortgage loans on real estate	-276,000,000	-305,000,000	-1,101,000,000	-301,000,000	-919,126,000	442,126,000	379,190,000	598,869,000	277,438,000	279,348,000	343,908,000	490,185,000	546,019,000	536,216,000	362,526,000	234,765,000	159,997,000	105,378,000	148,770,000	100,511,000	45,947,000	83,584,000	87,302,000	71,019,000	78,436,000	57,599,000	71,127,000	68,017,000	54,839,000	110,296,000	75,110,000	84,248,000	119,333,000	109,846,000	99,056,000	133,050,000	84,735,000	140,541,000	125,998,000	122,348,000	120,224,000	99,199,000	47,481,000
private loans	-980,000,000	-631,000,000	-315,000,000	-585,000,000
investment real estate and real estate partnerships
investment funds	-875,000,000	-161,000,000	-112,000,000	-69,000,000
short-term investments	-3,383,000,000	-7,455,000,000	-8,301,000,000	2,268,000,000
other invested assets	-58,000,000	-20,000,000	236,000,000	-184,000,000
proceeds from sales and maturities of investments:
purchases of derivatives	-252,000,000	-213,000,000	-218,000,000	-232,000,000
proceeds from sales and maturities of derivatives	239,000,000	308,000,000	586,000,000
purchase of intangibles and property and equipment	-20,000,000	-5,000,000	23,000,000	-30,000,000
proceeds from sales of intangibles and property and equipment			7,000,000	1,000,000
change in collateral held for derivatives	269,000,000	-575,000,000	-495,000,000	156,000,000	-129,978,000	390,978,000	481,127,000	-314,120,000	435,741,000	184,088,000	53,828,000	146,009,000	-466,839,000	-584,969,000	187,794,000	-326,781,000	-80,148,000	236,558,000	434,322,000	220,334,000	379,395,000	-1,106,464,000	453,553,000	56,895,000	255,318,000	424,890,000	55,188,000	-784,932,000	157,662,000	55,266,000	233,992,000	-26,754,000	228,975,000	-326,248,000	-71,293,000	179,692,000	-98,351,000	-60,486,000	224,755,000	149,047,000	-116,494,000	292,043,000	-297,780,000
other	-17,000,000	29,000,000	-75,000,000	60,000,000	-74,894,000	25,894,000	28,759,000	-30,674,000	14,757,000	-22,855,000	-65,056,000	-59,208,000	-21,713,000	-75,670,000	75,645,000	-62,369,000	-14,770,000	-11,844,000	-3,521,000	-2,402,000	6,852,000	-125,000	3,419,000	-4,990,000	-3,845,000	-2,009,000	-2,266,000	-3,757,000	-4,056,000	-2,529,000	-4,431,000	-2,205,000	-3,510,000	-1,307,000	-1,642,000	11,000	-1,708,000	-854,000	-1,014,000	-4,037,000	646,000	-482,000	-187,000
cash flows used in investing activities	2,610,000,000	-5,748,000,000
financing activities:
issuance of preferred equity	0	292,000,000
redemption of preferred equity	0	-400,000,000
dividends paid to stockholders	-11,000,000	-19,000,000
borrowings from related parties	10,000,000	197,000,000
repayment of borrowings to related parties	-77,000,000	-14,000,000
borrowings from external parties			600,000,000	0
repayment of borrowings to external parties			614,000,000	-286,000,000
repayment of borrowings issued to reinsurance entities	8,000,000	-6,000,000
policyholders’ account deposits	3,903,000,000	3,514,000,000	3,081,000,000	3,733,000,000
policyholders’ account withdrawals	-2,450,000,000	-2,301,000,000	-2,636,000,000	-3,076,000,000
debt issuance costs			0	0
issuance of equity, noncontrolling interests
distributions to noncontrolling interests
cash flows from financing activities	1,439,000,000	1,267,000,000	1,084,000,000	361,000,000
cash and cash equivalents
cash and cash equivalents, beginning of period	0	11,330,000,000
net change during the period	4,584,000,000	-3,810,000,000	-2,543,000,000
cash and cash equivalents, at end of period
supplementary cash flow disclosure:
cash taxes paid	92,000,000	-38,000,000	324,000,000	63,000,000
cash interest paid	65,000,000	20,000,000	55,000,000	36,000,000
non-cash transactions:
available-for-sale fixed maturity securities received in connection with pension risk transfer transactions
equity securities transferred as consideration paid for acquisition of a subsidiary
investments received as in-kind consideration from sales of investment funds
interest credited to policyholder account balances		512,000,000	844,000,000	663,000,000
premiums due and other receivables		-17,000,000
fixed maturity, available-for-sale		-2,596,000,000	-3,890,000,000
real estate and real estate partnerships		-39,000,000	1,326,000,000
purchase of equity accounted investments
distributions from equity accounted investments
borrowings issued to reinsurance entities		6,000,000
issuance of equity, noncontrolling interest		1,000,000
distributions to noncontrolling interest		-3,000,000	-53,000,000	4,000,000
cash and cash equivalents, end of period		7,520,000,000	-2,543,000,000	-22,000,000
supplementary disclosures of cash flow information:
non-cash investing and financing activities:
premium in-kind consideration received
disposition of subsidiary, net of cash disposed
cash flows from investing activities			-4,045,000,000
issuance of common equity
payment related to recapture of reinsurance agreement
fixed maturity securities, available-for-sale received in connection with pension risk transfer transactions			1,167,000,000
non-cash deposit on reinsurance			0
transfer of invested assets			7,000,000
deposit liabilities				-73,000,000
net change in policy loans
dividends paid on preferred stock				-11,000,000	-81,000	-10,919,000	-10,919,000	-10,918,000	-10,919,000	-10,919,000	-10,919,000	-10,918,000	-10,919,000	-10,919,000
payments to noncontrolling interest
cash and cash equivalents, beginning of year				0
other policy revenue - annuity product charges
amortization of dac, dsi and voba asset
losses (gains) on investments and derivatives and from disposition of business, net:
unrealized losses (gains) on investments and derivatives
realized losses (gains) on investments and derivatives
investment credit losses
income from real estate partnerships and investment funds
distributions from real estate partnerships and investment funds
reinsurance funds withheld
fixed maturity, available for sale
real estate
real estate partnerships
proceeds from (payments upon) sales and maturities of derivatives
proceeds from noncontrolling interest
net change during the year
fixed maturity securities, available for sale received in connection with pension risk transfer transactions
equity securities transferred as part of acquisition of a subsidiary
operating activities
interest sensitive and index product benefits						304,220,000	193,439,000	193,686,000	122,387,000	57,911,000	160,243,000	121,890,000	234,855,000	372,662,000	574,816,000	817,014,000	812,981,000	476,595,000	325,912,000	576,147,000	240,992,000	400,219,000	399,514,000	500,285,000	251,103,000	136,674,000	427,951,000	514,095,000	501,028,000	472,596,000	419,139,000	97,671,000	306,141,000	282,825,000	429,415,000	367,774,000	317,192,000	336,025,000	225,809,000	246,105,000	142,733,000	139,123,000	223,232,000
amortization of deferred sales inducements						54,214,000	50,346,000	48,354,000	46,951,000	46,601,000	46,773,000	127,784,000	90,446,000	143,545,000	59,409,000	-17,172,000	-12,520,000	122,975,000	22,768,000	416,983,000	-75,178,000	73,591,000	91,260,000	-55,769,000	19,785,000	33,309,000	78,112,000	100,423,000	14,707,000	33,695,000	62,325,000	27,479,000	75,518,000	10,953,000	40,661,000	55,349,000	666,000	120,536,000	28,831,000	7,709,000	25,940,000	16,710,000	-28,065,000
annuity product charges						-95,613,000	-96,947,000	-84,316,000	-71,642,000	-62,591,000	-61,666,000	-60,819,000	-55,514,000	-52,355,000	-60,310,000	-58,480,000	-63,759,000	-60,082,000	-65,963,000	-62,277,000	-63,438,000	-59,549,000	-62,722,000	-63,647,000	-60,700,000	-52,966,000	-55,006,000	-50,723,000	-51,931,000	-48,603,000	-43,572,000	-36,505,000	-32,409,000	-28,682,000	-31,958,000	-29,247,000	-25,272,000	-23,511,000	-21,481,000	-23,875,000	-21,908,000	-19,393,000	-20,405,000
change in traditional life and accident and health insurance reserves						-9,563,000	10,277,000	-11,819,000	-10,384,000	1,720,000	-5,479,000	-4,909,000	-3,806,000	-12,779,000	20,603,000	8,147,000	5,966,000	5,374,000	2,187,000	3,185,000	3,360,000	-38,000	1,567,000	-2,224,000	-2,464,000	-425,000	-594,000	2,049,000	48,000	-604,000	726,000				-927,000	1,414,000	-91,000
policy acquisition costs deferred						-191,814,000	-209,404,000	-161,250,000	-138,916,000	-66,767,000	-52,125,000	-41,585,000	-48,344,000	-56,569,000	-64,146,000	-63,553,000	-83,154,000	-97,004,000	-76,903,000	-54,390,000	-59,417,000	-64,444,000	-78,223,000	-108,217,000	-127,656,000	-108,420,000	-103,482,000	-96,562,000	-90,446,000	-111,335,000	-110,574,000	-156,934,000	-170,318,000	-121,822,000	-112,092,000	-106,645,000	-93,333,000	-110,881,000	-94,638,000	-100,712,000	-95,396,000	-91,177,000	-119,941,000
amortization of deferred policy acquisition costs						77,337,000	72,428,000	70,561,000	68,476,000	68,235,000	64,338,000	183,182,000	142,354,000	225,426,000	82,999,000	-1,588,000	-16,906,000	203,823,000	26,145,000	622,596,000	-119,889,000	120,702,000	133,573,000	-120,934,000	29,946,000	45,132,000	115,049,000	140,639,000	23,023,000	49,547,000	89,678,000	49,713,000	104,700,000	14,286,000	39,671,000	67,084,000	7,194,000	169,270,000	46,230,000	25,954,000	44,848,000	34,284,000	-28,930,000
benefit from depreciation and other amortization						3,350,000	2,586,000	2,146,000	896,000	3,025,000	1,340,000	2,581,000	8,014,000	2,250,000	1,542,000	1,214,000	1,253,000	1,518,000	1,342,000	1,372,000	1,403,000	1,082,000	1,205,000	947,000	967,000	949,000	804,000	900,000	832,000	1,004,000	957,000	875,000	1,251,000	1,267,000	2,180,000	2,398,000	3,000,000	4,749,000	4,607,000	4,819,000	4,603,000	4,547,000	4,821,000
amortization of discounts and premiums on investments						2,601,000	-107,685,000	79,373,000	18,335,000	13,450,000	2,003,000	5,348,000	-4,453,000	-258,000	1,423,000	2,994,000	7,347,000	8,097,000	20,327,000	19,465,000	7,843,000	9,802,000	4,084,000	9,028,000	8,249,000	4,485,000	3,330,000	6,002,000	2,435,000	5,844,000	2,800,000	-3,103,000	-5,100,000	-1,428,000	-10,076,000	405,000	-2,829,000	15,842,000	-6,296,000	-11,576,000	-24,282,000	-39,738,000	-36,758,000
realized gains/losses on investments						94,050,000	38,065,000	44,672,000	24,679,000	27,787,000	-14,411,000	15,860,000	33,272,000	13,127,000	10,478,000	-4,933,000	3,114,000	4,583,000	12,135,000	22,321,000
distributions from equity method investments						24,601,000	74,109,000	33,434,000			-1,008,000	2,894,000			1,712,000	763,000	2,303,000	7,631,000	1,778,000				1,593,000	407,000			60,000	66,000
change in fair value of derivatives						-409,767,000	-353,443,000	383,026,000	-242,739,000	-45,890,000	-22,244,000	176,671,000	506,181,000	477,519,000	-522,220,000	70,701,000	-500,880,000	-396,305,000	-443,869,000	-205,011,000	-327,662,000	941,874,000	-465,929,000	20,054,000	-75,945,000	-384,381,000	-132,267,000	450,906,000	-362,775,000	-267,097,000	-386,842,000	73,657,000	22,555,000	30,636,000	-39,773,000	-271,360,000	-48,493,000	-64,040,000	-373,962,000	-161,090,000	150,847,000	-259,161,000	333,063,000
share-based compensation						1,946,000	-1,844,000	10,263,000	10,973,000	9,904,000	5,119,000	4,288,000	824,000	5,596,000	5,336,000	6,109,000	8,860,000	4,296,000	2,700,000	3,121,000	2,105,000	2,289,000	1,893,000	2,042,000	3,155,000	4,205,000	2,520,000	3,526,000	1,260,000	1,751,000	2,403,000	2,234,000	1,660,000	1,687,000	522,000	583,000	37,000	1,721,000	1,290,000	1,883,000	1,918,000	1,106,000	1,410,000
change in accrued investment income						28,227,000	-15,690,000	44,754,000	9,029,000	426,000	18,798,000	-24,110,000	-8,637,000	-38,805,000	-31,727,000	-15,977,000	12,719,000	-12,030,000	54,565,000	-2,357,000	22,377,000	159,000	24,465,000	-16,627,000	16,800,000	-28,735,000	6,969,000	-25,511,000	-22,700,000	7,662,000	-26,371,000	-31,229,000	15,069,000	-31,682,000	-36,174,000	18,777,000	-21,177,000	10,649,000	-36,508,000	-32,231,000	-8,022,000	-7,685,000	2,665,000
change in income taxes recoverable/payable						13,512,000			-4,857,000	4,677,000	48,340,000	31,403,000	30,826,000	519,000	-206,064,000	80,497,000	-60,618,000	20,461,000	33,911,000	1,189,000	10,362,000	-46,753,000	30,706,000	17,807,000	-23,403,000	1,856,000	-103,504,000	37,906,000	-10,115,000	-20,639,000	31,161,000	20,573,000	-35,178,000	22,542,000	30,703,000					13,349,000	-20,934,000	17,441,000	-8,594,000
change in other assets						-11,255,000	110,717,000	-60,596,000	-169,907,000	-34,940,000	9,015,000	-10,333,000	-8,175,000	-21,480,000	-2,461,000	-2,236,000	1,399,000	-1,166,000	-3,156,000	-748,000	1,022,000	2,033,000	-3,598,000	2,859,000	133,000	-5,001,000	-892,000	-470,000	-402,000	400,000	33,000	-1,164,000	1,096,000	-918,000	-2,279,000	259,000	-339,000	-1,611,000	1,315,000	4,723,000	-9,395,000	-682,000	2,193,000
change in other policy funds and contract claims						-7,645,000	-8,665,000	-6,870,000	-105,696,000	-207,895,000	244,608,000	-257,975,000	96,112,000	197,191,000	-3,838,000	-6,243,000	-2,157,000	-7,571,000	-2,914,000	-3,729,000	-5,734,000	-9,488,000	-5,506,000	-5,860,000	-4,546,000	-6,059,000	-4,824,000	-4,343,000	-5,117,000	-7,839,000	-6,985,000	-12,544,000	-12,944,000	-14,171,000	-16,400,000	-13,569,000	-17,288,000	-7,084,000	-8,451,000	23,020,000	15,324,000	18,224,000	56,948,000
change in market risk benefits						-138,771,000	242,436,000	-296,167,000	-155,389,000	192,253,000
change in funds withheld from reinsurers						256,921,000	187,465,000	703,157,000	600,635,000	342,602,000	302,349,000	415,758,000	132,726,000	80,767,000
change in other liabilities						58,489,000	-208,288,000	-1,023,443,000	1,218,826,000	145,648,000	-149,684,000	90,635,000	-12,555,000	96,591,000	-80,496,000	8,141,000	-56,558,000	-92,813,000	61,276,000	14,126,000	-9,191,000	-27,216,000	-49,277,000	19,364,000	-606,000	1,912,000	-16,625,000	-6,472,000	-25,639,000	1,906,000	-38,754,000	-38,041,000	20,254,000	-7,113,000	-8,024,000	-2,230,000	-30,056,000	6,690,000	-6,215,000	14,863,000	8,102,000	-19,523,000	12,968,000
net cash from operating activities						1,070,006,000	910,207,000	-217,889,000	2,382,448,000	865,043,000	919,086,000	812,725,000	212,438,000	99,932,000	3,595,873,000	13,047,000	152,363,000	471,881,000	949,755,000	683,127,000	836,804,000	-1,164,700,000	1,063,122,000	417,046,000	759,242,000	1,111,992,000	299,589,000	-443,176,000	433,714,000	333,153,000	497,927,000	141,612,000	405,712,000	-140,215,000	91,972,000	347,218,000	48,163,000	121,648,000	369,616,000	329,225,000	42,703,000	457,720,000	-85,506,000
capex						-4,631,000	-14,050,000	-22,467,000	-9,375,000	-4,192,000	-6,746,000	-25,888,000	-5,903,000	-2,424,000	-3,049,000	-5,272,000	-6,064,000	-3,724,000	-800,000	-816,000	-1,514,000	-10,110,000	-874,000	-1,748,000	-680,000	-720,000	-1,675,000	-1,099,000	-1,400,000	-1,092,000	-1,402,000	-244,000	-297,000	-295,000	-155,000	-422,000	-200,000	-210,000	-78,000	-105,000	-82,000	-191,000	-1,091,000
free cash flows						1,065,375,000	896,157,000	-240,356,000	2,373,073,000	860,851,000	912,340,000	786,837,000	206,535,000	97,508,000	3,592,824,000	7,775,000	146,299,000	468,157,000	948,955,000	682,311,000	835,290,000	-1,174,810,000	1,062,248,000	415,298,000	758,562,000	1,111,272,000	297,914,000	-444,275,000	432,314,000	332,061,000	496,525,000	141,368,000	405,415,000	-140,510,000	91,817,000	346,796,000	47,963,000	121,438,000	369,538,000	329,120,000	42,621,000	457,529,000	-86,597,000
investing activities
sales, maturities, or repayments of investments:
fixed maturity securities, available for sale						4,707,376,000	948,892,000	5,345,751,000	1,954,429,000	3,150,639,000	4,554,798,000	1,679,469,000	1,677,615,000	1,779,328,000		762,640,000	1,416,169,000	1,116,965,000		931,713,000	496,187,000	1,916,960,000		1,324,895,000	572,912,000	286,855,000
derivative instruments						303,371,000	194,542,000	172,594,000	124,471,000	-132,000	6,283,000	204,291,000	92,971,000	280,510,000	519,602,000	571,392,000	769,643,000	400,322,000	226,572,000	203,286,000	109,709,000	320,953,000	305,251,000	114,077,000	183,057,000	55,500,000	369,421,000	479,675,000	400,448,000	400,613,000	349,732,000	6,747,000	237,545,000	214,667,000	353,689,000	291,769,000	241,098,000	262,132,000	146,918,000	166,026,000	53,186,000	57,015,000	156,938,000
other investments						1,103,923,000	1,320,165,000	176,252,000	264,466,000	705,059,000	298,948,000	86,023,000	327,680,000	26,376,000	356,829,000	6,426,000	1,393,000	4,189,000	1,086,000	225,000	33,000	2,980,000	464,662,000	4,480,000	2,345,000	1,062,000	1,726,000	153,936,000	1,862,000	2,521,000	4,990,000	4,274,000	3,712,000	7,218,000	3,270,000	4,303,000	8,942,000	6,366,000	5,371,000	15,539,000	5,794,000	4,568,000	34,000
acquisitions of investments:
real estate investments acquired						-35,649,000	-57,469,000	-28,526,000	-110,668,000	-120,907,000	-112,603,000	-250,061,000	-193,732,000	-168,088,000
purchases of property, furniture and equipment						-4,631,000	-14,050,000	-22,467,000	-9,375,000	-4,192,000	-6,746,000	-25,888,000	-5,903,000	-2,424,000	-3,049,000	-5,272,000	-6,064,000	-3,724,000	-800,000	-816,000	-1,514,000	-10,110,000	-874,000	-1,748,000	-680,000	-720,000	-1,675,000	-1,099,000	-1,400,000	-1,092,000	-1,402,000	-244,000	-297,000	-295,000	-155,000	-422,000	-200,000	-210,000	-78,000	-105,000	-82,000	-191,000	-1,091,000
net cash from investing activities						3,338,218,000	-1,299,809,000	5,213,132,000	-223,196,000	804,501,000	-177,889,000	358,186,000	-188,970,000	-2,446,238,000	-7,625,767,000	950,944,000	329,787,000	120,729,000	4,505,862,000	-149,104,000	-78,446,000	856,292,000	-149,475,000	-954,227,000	-1,026,070,000	-925,114,000	-36,058,000	-661,329,000	-553,739,000	-834,122,000	-519,913,000	-956,073,000	-1,194,044,000	-1,059,890,000	-1,481,227,000	-90,173,000	-626,567,000	-1,106,520,000	-1,270,294,000	85,566,000	-1,660,336,000	1,153,852,000	-1,061,379,000
financing activities
receipts credited to annuity policyholder account balances						2,348,431,000	1,996,378,000	2,237,786,000	2,000,479,000	1,370,663,000	899,529,000	750,386,000	777,818,000	888,488,000	1,030,741,000	1,293,679,000	1,164,827,000	2,420,777,000	1,837,093,000	563,671,000	548,717,000	699,455,000																					1,267,364,000
coinsurance deposits						-91,042,000	375,257,000	-311,913,000	-296,245,000	-215,927,000	55,109,000	-286,854,000	34,351,000	10,757,000	-3,871,161,000	186,432,000	278,410,000	218,987,000	126,475,000	99,410,000	90,228,000	114,531,000	23,380,000	8,668,000	21,388,000	37,802,000	-29,848,000	-6,867,000	-46,000	-32,808,000	63,746,000	-378,412,000	16,261,000	-33,061,000	27,627,000	16,722,000	-2,609,000	10,319,000	5,641,000	12,266,000	20,848,000	-49,478,000	-43,736,000
return of annuity policyholder account balances						-2,910,342,000	-2,546,127,000	-1,778,172,000	-1,648,098,000	-1,601,547,000	-1,533,318,000	-1,274,902,000	-1,250,629,000	-1,198,638,000	-1,283,802,000	-1,246,449,000	-1,364,698,000	-1,250,244,000	-1,117,867,000	-950,843,000	-946,323,000	-1,025,021,000	-958,746,000	-900,201,000	-908,274,000	-817,739,000	-761,067,000	-738,219,000	-647,881,000	-673,592,000	-727,494,000	-581,260,000	-530,425,000	-492,242,000	-466,003,000	-469,399,000	-475,280,000	-426,862,000	-402,185,000	-426,836,000	-433,851,000	-414,521,000	-459,420,000
repayment of loan payable						-1,875,000	-2,025,000	-1,726,000	-1,874,000	-1,875,000	-1,875,000
acquisition of treasury stock							231,000	-13,507,000	-2,932,000	-293,193,000	-44,099,000	-154,088,000	-188,984,000	-179,396,000	0	-1,340,000	-95,077,000	-2,998,000
proceeds from issuance of common stock						264,000	1,173,000	20,114,000	2,764,000	-3,631,000	1,117,000	19,000	1,304,000	251,538,000	0	-306,000	154,000	5,006,000	336,323,000	32,000	451,000	1,255,000	1,279,000	394,000	-94,000	112,000	2,988,000	4,516,000	3,673,000	901,000	3,717,000	3,740,000	1,310,000	4,089,000	1,997,000	1,948,000	6,093,000	5,181,000	7,103,000	2,993,000	341,000	721,000	206,000
change in checks in excess of cash balance						-19,480,000	159,782,000	50,874,000	20,378,000	-54,932,000	35,363,000	28,228,000	-33,083,000	9,393,000	20,674,000	-24,561,000	-17,707,000	18,384,000	10,206,000	7,654,000	25,900,000	-40,149,000	34,437,000	-651,000	-596,000	-4,021,000	1,653,000	-22,838,000	17,861,000	-16,464,000	-10,084,000	-10,358,000	-31,920,000	-12,126,000	2,027,000	-2,027,000	-32,192,000	-3,637,000	-11,570,000	4,705,000	-6,365,000	-6,243,000	5,365,000
net cash from financing activities						-684,963,000	-26,250,000	192,538,000			-629,660,000	-650,004,000	-670,142,000	-228,777,000	-4,145,917,000	196,537,000	-45,010,000	1,398,993,000	983,273,000	-286,026,000	-182,822,000	-151,885,000	241,008,000	459,951,000	366,905,000	584,616,000	272,407,000	394,244,000	-169,226,000	903,134,000	403,468,000	1,123,889,000	1,228,382,000	792,355,000	713,522,000	528,316,000	360,047,000	849,664,000	514,230,000	574,813,000	498,350,000	510,589,000	769,715,000
increase in cash and cash equivalents						3,723,261,000	-415,852,000	5,187,781,000	2,222,805,000	858,183,000	111,537,000	520,907,000	-646,674,000	-2,575,083,000	-8,175,811,000	1,160,528,000	437,140,000	1,991,603,000	6,438,890,000	247,997,000	575,536,000	-460,293,000	1,154,655,000	-77,230,000	100,077,000	771,494,000	535,938,000	-710,261,000	-289,251,000	402,165,000	381,482,000	309,428,000						-135,208,000	-386,448,000	989,604,000	-1,119,283,000	2,122,161,000	-377,170,000
cash and cash equivalents at beginning of period						9,772,586,000		0	0	1,919,669,000		0	0	4,508,982,000		0	0	9,095,522,000		0	0	2,293,392,000		0	0	344,396,000	0	1,434,045,000	0	0	791,266,000	397,749,000	0	701,514,000	0	0	897,529,000	0	1,268,545,000	0	0	404,952,000	0
cash and cash equivalents at end of period						13,495,847,000		5,187,781,000	2,222,805,000	2,777,852,000		520,907,000	-646,674,000	1,933,899,000		1,160,528,000	437,140,000	11,087,125,000		247,997,000	575,536,000	1,833,099,000		-77,230,000	100,077,000	1,115,890,000	535,938,000	723,784,000	-289,251,000	402,165,000	1,172,748,000	707,177,000	440,050,000	293,764,000	-675,733,000	785,361,000	679,172,000	-135,208,000	882,097,000	989,604,000	-1,119,283,000	2,527,113,000	-377,170,000
supplemental disclosures of cash flow information
cash paid during period for:
interest expense						6,358,000	18,922,000	13,072,000	12,223,000	5,803,000	20,039,000	1,250,000	13,750,000	1,250,000	15,000,000	0	13,750,000	1,250,000	13,750,000	1,250,000	13,904,000	2,523,000	16,389,000	3,977,000	16,721,000	5,792,000	16,661,000	3,488,000	16,844,000	4,057,000	18,682,000	16,278,000	2,946,000	16,580,000	16,993,000	4,104,000	17,993,000	6,125,000	6,470,000	6,550,000	7,294,000	7,014,000	6,919,000
income taxes						546,000	5,103,000	0	-260,121,000	262,020,000	0				85,368,000	4,595,000			32,000	4,971,000	-172,000	11,000	220,000	0					38,055,000	71,479,000	47,000	200,000	53,287,000	114,000	23,252,000	46,923,000	21,500,000	37,500,000	10,200,000	9,288,000			15,600,000
income tax refunds received						14,059,000	19,999,000	0	-52,447,000	52,500,000	81,457,000	310,000						-440,000
non-cash operating activity:
deferral of sales inducements						127,704,000	160,506,000	171,164,000	136,856,000	45,267,000	33,617,000	27,386,000	23,242,000	23,446,000	23,477,000	22,021,000	24,812,000	24,850,000	25,142,000	21,206,000	22,710,000	24,552,000	36,981,000	46,969,000	48,370,000	45,621,000	49,468,000	43,670,000	46,984,000	62,847,000	65,245,000	107,673,000	125,600,000	93,591,000	85,320,000	83,270,000	72,687,000	91,033,000	73,898,000	77,536,000	73,229,000	70,019,000	92,176,000
real estate investments sold							2,000,000	1,131,000
proceeds from issuance of loan payable											0
dividends paid on common stock
cash and cash equivalents at beginning of year
cash and cash equivalents at end of year
cash paid during the year for:
net cash provided used in financing activities										-811,361,000
loss on extinguishment of debt																			0	0	0	2,024,000							18,389,000						0
change in collateral held for securities lending																			-671,000	-88,000	-5,233,000	-489,047,000	129,509,000	-76,316,000	120,899,000	321,009,000
repayment of subordinated debentures																			0	0	0	-81,450,000
proceeds from issuance of preferred stock																			0	0
fixed maturity securities - available for sale																											2,109,217,000	265,837,000	363,077,000	453,451,000	517,301,000	581,647,000	609,839,000	276,734,000	293,978,000	730,683,000	208,747,000	1,355,616,000	937,343,000	519,354,000	457,896,000	965,283,000	189,011,000
net proceeds from (repayments of) amounts due under repurchase agreements
real estate acquired																-1,025,000
preferred stock dividends																-10,918,000	-10,919,000	-10,919,000		-5,950,000	-5,950,000	-6,611,000
net proceeds from amounts due under repurchase agreements																						186,105,000				134,033,000		137,223,000	-38,131,000
cash paid (received) during period for:
realized gains on investments and net credit losses recognized in operations																						20,336,000
realized gains on investments and net otti losses recognized in operations																							10,383,000	-4,227,000	5,045,000	563,000		605,000	-1,115,000	-2,924,000	-2,197,000
financing fees incurred and deferred																													214,000						0	0	-100,000						0
proceeds from issuance of notes payable																													0
repayment of notes payable																																			0	-65,094,000	-54,583,000
dividends paid
receipts credited to annuity and single premium universal life policyholder account balances																								1,302,810,000	1,497,812,000	1,234,429,000	1,195,904,000	1,020,429,000	908,336,000	1,169,597,000	1,073,583,000	2,089,739,000	1,788,045,000	1,307,792,000	1,066,149,000	1,035,076,000	915,631,000		914,936,000	982,024,000	917,349,000	979,445,000
repayment of amounts due under repurchase agreements
realized (gains) losses on investments and net otti losses recognized in operations
excess tax benefits realized from share-based compensation plans																																440,000	186,000	2,828,000	536,000	689,000	3,087,000	75,000	305,000	-69,000	28,000	665,000	-57,000
non-cash financing activity:
common stock issued to settle warrants that have expired																																80,000
repayment of debt
increase in traditional life and accident and health insurance reserves																																-858,000							402,000	15,198,000	6,620,000	6,032,000	24,892,000
realized gains/losses on investments and net otti losses recognized in operations																																3,007,000	-3,496,000	-4,747,000	3,754,000	2,824,000	1,619,000	-12,914,000	-7,348,000	2,924,000	1,589,000	8,957,000
acquisition of investments:
proceeds from amounts due under repurchase agreements																																		15,075,000
non-cash financing activities:
decrease in traditional life and accident and health insurance reserves																																	2,567,000	-868,000
net proceeds from settlement of notes hedges and warrants																																			0
non-cash investing activity:
real estate acquired in satisfaction of mortgage loans																																			1,748,000	8,294,000	1,713,000	0	844,000	2,947,000	8,682,000	3,303,000	11,050,000
common stock issued in extinguishment of debt																																			0	33,115,000	23,177,000
decrease in cash and cash equivalents																																		-407,750,000			-218,357,000
equity securities - available for sale																																								1,999,000	3,000,000	2,605,000	0
proceeds from notes payable
warrants to be settled in cash
loss on extinguishment of debt, net of tax																																					3,977,000
change in income taxes payable																																					7,909,000	-13,921,000	5,438,000
fixed maturity securities - held for investment																																								929,878,000	547,513,000	1,140,816,000
conversion of subordinated debentures																																								8,216,000	12,494,000	60,000
acquisition of common stock																																											-7,000
mortgage loan on real estate sold																																											0
realized gains on investments and net otti losses recognized																																											26,183,000
repayments of notes payable
purchase of call spread - 2015 notes hedges
proceeds from issuance of warrants
adjustments related to interest sensitive products:
interest credited to account balances
annuity and single premium universal life product charges
amortization of discount on contingent convertible notes
amortization of discount and premiums on investments
realized gains on investments
changes in other operating assets and liabilities:
income taxes recoverable
other assets
other policy funds and contract claims
other amounts due to related parties
other liabilities
equity securities, available for sale
policy loans
coinsurance deposits - related party
return of annuity and single premium universal life policyholder account balances
increase in amounts due under repurchase agreements
proceeds from issuance of subordinated debentures
excess tax benefits realized from exercise of stock options
checks in excess of cash balance
supplemental disclosures of cash flow information:
non-cash financing and investing activities:
premium and interest bonuses deferred as sales inducements
subordinated debentures issued to subsidiary trusts for common equity securities of the subsidiary trust
amortization of discounts and premiums on fixed maturity securities
realized losses (gains) on investments
federal income taxes recoverable/payable
fixed maturity securities—available for sale
fixed maturity securities—held for investment
coinsurance deposits—related parties
settlement of option agreement
tax benefits realized from exercise of stock options, management subscription rights and settlement of option agreement
non-cash operating, financing and investing activities:

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