FG Annuities Life Inc
For the period ended Mar 31, 2024. Filed May 10, 2024.
View on SEC.govAbout this filing
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.
Mar 31, 2024 · Filed May 10, 2024
FG$25.00-2.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Statements of Cash Flows (unaudited)
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In millions)
| Three months ended | ||
|---|---|---|
| March 31, 2024 | March 31, 2023 | |
| (Unaudited) | ||
| Cash Flows from Operating Activities: | ||
| Net earnings (loss) | $116 | $(195) |
| Adjustments to reconcile net earnings (loss) to net cash provided by operating activities: | ||
| Depreciation and amortization | 123 | 90 |
| (Gain) loss on sales of investments and other assets and asset impairments, net | 8 | 182 |
| Interest credited/index credits to contractholder account balances | 513 | 463 |
| Change in market risk benefits, net | (11) | 59 |
| Deferred policy acquisition costs and deferred sales inducements | (311) | (251) |
| Charges assessed to contractholders for mortality and administration | (66) | (58) |
| Distributions from unconsolidated affiliates, return on investment | 17 | 19 |
| Stock-based compensation cost | 7 | 5 |
| Change in NAV of limited partnerships, net | (49) | (57) |
| Change in valuation of derivatives, equity and preferred securities and other assets, net | (223) | (166) |
| Changes in assets and liabilities, net of effects from acquisitions: | ||
| Change in reinsurance recoverable | (22) | — |
| Change in future policy benefits | 505 | 224 |
| Change in funds withheld from reinsurers | 940 | 1,124 |
| Net change in income taxes | 20 | (13) |
| Net change in other assets and other liabilities | (33) | 11 |
| Net cash provided by operating activities | $1,534 | $1,437 |
| Cash Flows from Investing Activities: | ||
| Proceeds from sales, calls and maturities of investment securities | $1,586 | $915 |
| Additions to property and equipment and capitalized software | (7) | (6) |
| Purchases of investment securities | (3,636) | (3,900) |
| Net proceeds from (purchases of) sales and maturities of short-term investment securities | 1,190 | 785 |
| Other acquisitions/disposals, net of cash acquired | (268) | — |
| Additional investments in unconsolidated affiliates | (266) | (293) |
| Distributions from unconsolidated affiliates, return of investment | 17 | 91 |
| Net cash used in investing activities | $(1,384) | $(2,408) |
| Cash Flows from Financing Activities: | ||
| Borrowings | $— | $500 |
| Debt issuance costs | (5) | (10) |
| Net revolving credit facility (repayments) borrowings | — | (35) |
| Common dividends paid | (26) | (25) |
| Purchases of treasury stock | (6) | — |
| Issuance of preferred stock | 250 | — |
| Contractholder account deposits | 1,929 | 2,115 |
| Contractholder account withdrawals | (1,483) | (950) |
| Net cash provided by financing activities | $659 | $1,595 |
| Net increase in cash and cash equivalents | 809 | 624 |
| Cash and cash equivalents at beginning of period | 1,563 | 960 |
| Cash and cash equivalents at end of period | $2,372 | $1,584 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.