American National Group Inc
For the period ended Jun 30, 2024. Filed Aug 14, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Aug 14, 2024
ANG-PD$22.01-2.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Cash Flows (unaudited)
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Six Months EndedJune 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Operating activities: | ||
| Net income | $361 | $111 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Other policy revenue - annuity product charges | (289) | (200) |
| Accretion on investments | 187 | (45) |
| Amortization of DAC, DSI and VOBA asset | 360 | 263 |
| Deferral of policy acquisition costs | (483) | (401) |
| Losses (gains) on investments and derivatives and from disposition of business, net: | ||
| Unrealized losses (gains) on investments and derivatives | (250) | (136) |
| Realized losses (gains) on investments and derivatives | (117) | 61 |
| Investment credit losses (reversals) | 10 | 13 |
| Income from real estate partnerships and investment funds | (235) | (58) |
| Distributions from real estate partnerships and investment funds | 186 | 35 |
| Interest credited to policyholder account balances | 637 | 276 |
| Change in fair value of embedded derivatives | 366 | — |
| Depreciation and amortization | 26 | 23 |
| Deferred income taxes | (303) | 5 |
| Changes in operating assets and liabilities: | ||
| Insurance-related liabilities | 800 | 750 |
| Deposit liabilities | 54 | (104) |
| Reinsurance funds withheld | (88) | — |
| Reinsurance recoverables and deposit assets | 255 | 2 |
| Accrued investment income | (74) | 46 |
| Working capital and other | (26) | (41) |
| Cash flows provided by operating activities | 1,377 | 600 |
| Investing activities: | ||
| Acquisition of subsidiary, net of cash acquired | 10,836 | — |
| Purchase of investments: | ||
| Fixed maturity, available for sale | (4,757) | (9,093) |
| Equity securities | (201) | — |
| Mortgage loans on real estate | (477) | (308) |
| Private loans | (1,555) | — |
| Real estate | (4) | — |
| Real estate partnerships | (1,283) | (997) |
| Investment funds | (134) | — |
| Short-term investments | (8,558) | — |
| Other invested assets | (141) | (78) |
| Proceeds from sales and maturities of investments: | ||
| Fixed maturity, available for sale | 2,413 | 8,386 |
| Equity securities | 28 | — |
| Mortgage loans on real estate | 693 | 179 |
| Private loans | 311 | — |
| Real estate | 14 | — |
| Real estate partnerships | 191 | — |
| Investment funds | 351 | — |
| Short-term investments | 9,606 | — |
| Other invested assets | 38 | 64 |
CONSOLIDATED STATEMENTS OF CASH FLOWS (Continued)
| Six Months EndedJune 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Purchases of derivatives | (155) | — |
| Proceeds from (payments upon) sales and maturities of derivatives | 252 | — |
| Purchase of intangibles and property and equipment | (31) | (20) |
| Proceeds from sales of intangibles and property and equipment | 27 | 3 |
| Purchase of equity accounted investments | — | (38) |
| Distributions from equity accounted investments | — | 80 |
| Change in collateral held for derivatives | 261 | 88 |
| Other, net | (49) | (27) |
| Cash flows used in investing activities | 7,675 | (1,761) |
| Financing activities: | ||
| Dividends paid on preferred stock | (11) | — |
| Proceeds from noncontrolling interest | — | 30 |
| Borrowings from external parties | 1,900 | — |
| Repayment of borrowings to external parties | (1,215) | — |
| Policyholders’ account deposits | 4,052 | 2,948 |
| Policyholders’ account withdrawals | (3,041) | (1,309) |
| Debt issuance costs | (4) | — |
| Distributions to noncontrolling interest | (32) | — |
| Cash flows provided by financing activities | 1,651 | 1,669 |
| Cash and cash equivalents | ||
| Cash and cash equivalents, beginning of year | 3,192 | 1,389 |
| Net change during the year | 10,703 | 508 |
| Cash and cash equivalents, end of period | $13,895 | $1,897 |
| Supplementary disclosures of cash flow information: | ||
| Cash taxes paid (net of refunds received) | $(1) | $(14) |
| Cash interest paid | 62 | — |
| Non-cash investing and financing activities: | ||
| Fixed maturity securities, available for sale received in connection with pension risk transfer transactions | $462 | $— |
| Equity securities transferred as part of acquisition of a subsidiary | 218 | — |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.