FG Annuities Life Inc
For the period ended Sep 30, 2024. Filed Nov 7, 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.
Sep 30, 2024 · Filed Nov 7, 2024
FG$25.00-2.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows (unaudited)
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In millions)
| Nine months ended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| (Unaudited) | ||
| Cash Flows from Operating Activities: | ||
| Net earnings | $315 | $241 |
| Adjustments to reconcile net earnings to net cash provided by operating activities: | ||
| Depreciation and amortization | 417 | 302 |
| (Gain) loss on sales of investments and other assets and asset impairments, net | (42) | 389 |
| Interest credited/index credits to contractholder account balances | 1,482 | 607 |
| Change in market risk benefits, net | 80 | (20) |
| Deferred policy acquisition costs and deferred sales inducements | (1,061) | (771) |
| Charges assessed to contractholders for mortality and administration | (209) | (184) |
| Distributions from unconsolidated affiliates, return on investment | 65 | 73 |
| Stock-based compensation cost | 21 | 16 |
| Change in NAV of limited partnerships, net | (261) | (160) |
| Change in valuation of derivatives, equity and preferred securities and other assets, net | (408) | (131) |
| Changes in assets and liabilities, net of effects from acquisitions: | ||
| Change in reinsurance recoverable | (40) | 106 |
| Change in future policy benefits | 1,080 | 705 |
| Change in funds withheld from reinsurers | 2,895 | 2,418 |
| Net change in income taxes | 42 | 79 |
| Net change in other assets and other liabilities | 303 | (58) |
| Net cash provided by operating activities | $4,679 | $3,612 |
| Cash Flows from Investing Activities: | ||
| Proceeds from sales, calls and maturities of investments | $7,326 | $3,786 |
| Additions to property and equipment and capitalized software | (19) | (21) |
| Purchases of investment securities | (12,015) | (10,193) |
| Net proceeds from sales, maturities and purchases of short-term investment securities | 812 | 1,399 |
| Other acquisitions/disposals, net of cash acquired | (482) | — |
| Additional investments in unconsolidated affiliates | (889) | (910) |
| Distributions from unconsolidated affiliates, return of investment | 129 | 285 |
| Addition to notes receivable | (7) | — |
| Net cash used in investing activities | $(5,145) | $(5,654) |
| Cash Flows from Financing Activities: | ||
| Borrowings | $550 | $500 |
| Debt issuance costs | (10) | (8) |
| Net revolving credit facility (repayments) borrowings | — | (35) |
| Repayments of outstanding debt | (250) | — |
| Dividends paid | (88) | (75) |
| Dividends and distributions paid to non-controlling interest shareholders | (10) | — |
| Purchases of treasury stock | (6) | (18) |
| Issuance of preferred stock | 250 | — |
| Contractholder account deposits | 8,574 | 5,718 |
| Contractholder account withdrawals | (6,568) | (3,258) |
| Net cash provided by financing activities | $2,442 | $2,824 |
| Net increase in cash and cash equivalents | 1,976 | 782 |
| Cash and cash equivalents at beginning of period | 1,563 | 960 |
| Cash and cash equivalents at end of period | $3,539 | $1,742 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.