REINSURANCE GROUP OF AMERICA, INCORPORATED RZA Cash Flow

Reinsurance group of america, incorporated (RZA)

CashFlow / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10
Cash Flows from Operating Activities:
Net Income (Loss) Attributable to Parent
-88,000	235,030	262,765	202,205	170,000	110,197	301,199	204,374	100,230	1,216,707	227,591	232,190	145,512	190,149	198,719	236,103	76,472	163,127	83,534	130,391	125,114	191,091	157,996	198,296	136,664	144,959	137,955	-49,612	185,535	222,989	144,475	141,111	123,318	138,579	134,602	123,944	148,920	158,052	128,232	127,019	122,439
Adjustments to reconcile net income to net cash provided by operating activities:
Change in operating assets and liabilities:
Accrued investment income
27,000	-36,160	27,960	1,200	11,000	16,473	-21,639	-12,318	10,484	-20,321	28,645	24,175	10,501	-40,102	24,158	10,326	24,379	1,370	20,432	-1,787	28,443	-40,803	32,070	44,068	-34,480	6,536	27,882	5,374	30,083	-48,596	22,502	9,566	28,616	-47,038	33,086	4,615	26,763	-50,392	29,985	5,262	33,508
Premiums receivable and other reinsurance balances
-2,000	72,018	-97,419	79,401	-164,000	244,893	173,854	69,899	275,354	-74,027	190,377	175,805	54,845	153,217	-94,991	46,832	51,778	213,078	81,121	-133	19,816	62,621	-29,913	88,375	15,627	187,325	-86,289	77,964	-72,864	182,746	55,077	-14,352	61,722	-2,689	153,261	18,986	-85,908	13,177	-19,991	76,120	42,145
Deferred policy acquisition costs
88,000	67,695	15,410	96,895	18,000	130,682	-3,154	-7,521	-13,007	-86,529	-31,601	23,092	-58,962	-46,083	9,624	-74,033	79,468	23,778	47,991	-2,756	-2,380	83,614	-19,850	-100,698	-64,559	-2,027	47,716	-61,261	-42,741	-5,057	6,417	-1,893	65,583	181,111	122,131	20,985	-82,324	-107,353	83,520	21,530	-59,525
Reinsurance ceded receivable balances
-39,000	53,710	15,279	44,011	65,000	-28,532	-19,223	-40,117	21,872	3,987	-7,982	46,949	81,046	-24,520	17,276	-8,453	68,918	-30,880	-72,735	51,056	64,299	-29,384	-37,271	31,564	-4,254	-12,772	15,528	-36,683	-28,131	-3,053	-2,780	29,226	-28,686	-101,096	-53,716	-26,923	38,230	-21,191	69,059	-9,648	14,999
Future policy benefits, other policy claims and benefits, and other reinsurance balances
2,051,000	362,573	438,176	616,251	120,000	672,508	322,477	131,032	466,983	338,836	236,365	349,340	396,459	330,868	99,309	4,627	375,670	1,273,099	240,443	102,376	251,570	889,392	154,357	188,936	392,876	423,941	199,584	531,081	275,091	385,363	651,054	201,436	554,354	301,511	336,563	105,102	227,509	194,829	209,263	122,336	1,054,030
Deferred income taxes
-67,000	10,347	108,211	53,442	39,000	85,136	-56,253	14,402	33,715	-1,083,185	94,141	91,934	50,110	127,789	64,825	77,757	23,406	20,439	51,510	63,903	13,144	127,061	-68,065	70,263	41,472	-45,594	207,301	52,728	16,343	297,312	-93,731	-43,576	38,107	110,787	100,396	-62,508	20,319	410,595	-90,706	41,465	63,820
Other assets and other liabilities, net
57,000	-366,405	130,776	15,629	107,000	115,022	-50,829	57,422	41,385	-163,152	-142,659	52,710	11,101	128,018	-73,051	25,195	18,513	40,675	57,033	-36,390	-5,973	151,715	-99,894	-63,917	29,340	-106,128	127,977	152,812	12,317	263,580	-163,067	-56,738	-5,944	58,103	87,582	-67,021	25,759	292,132	-229,336	94,549	96,334
Amortization of net investment premiums, discounts and other
12,000	10,614	10,644	16,742	17,000	1,846	29,441	-5,319	31,032	9,773	47,664	24,092	23,471	37,985	13,124	27,061	15,782	15,589	22,693	17,355	21,666	22,271	28,667	26,164	25,357	24,860	27,025	21,165	22,497	22,143	-7,703	34,066	35,281	72,360	32,573	40,662	27,093	39,456	40,099	47,946	16,833
Depreciation, Depletion and Amortization
4,000	15,376	11,461	11,163	11,000	12,847	10,599	11,260	10,294	31,616	7,515	7,024	6,845	7,364	6,601	6,760	6,128	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain (Loss) on Investments
-285,000	21,956	48,784	12,260	8,000	-138,941	-20,017	-10,572	-470	28,529	22,653	56,295	60,523	10,193	86,624	118,264	-120,886	-44,809	-111,346	-16,178	7,583	-39,223	22,318	118,527	84,571	-2,159	-76,465	48,243	94,371	110,762	76,053	23,801	43,520	-47,464	-139,600	27,388	123,620	74,633	-16,780	22,992	131,185
Gain on repurchase of collateral finance notes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	46,506	-	-	-	-	-	-	-	-	-	-	-	-
Gains Losses On Extinguishment Of Collateral Finance Securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-
Excess tax benefits from share-based payment arrangement
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	77	-4,356	600	668	715	-10	2,277	143	678	-238	6	-30	515	1,728	1,758	932	-3,634	597	217	565
Other, net
-165,000	256,148	-123,740	-13,408	-62,000	58,408	-26,986	-50,245	20,823	-71,787	9,990	38,761	-964	-8,546	-38,736	-45,819	-24,848	58,739	54,640	-3,978	-59,837	-86,014	22,151	-53,770	-22,486	-49,174	15,567	14,115	-80,142	-62,990	4,718	-66,189	38,938	-221,465	17,487	16,078	53,065	-	-	-	-16,213
Net cash provided by operating activities
2,207,000	543,750	792,919	630,331	340,000	480,837	516,575	359,839	223,749	877,501	448,525	238,609	417,365	445,846	425,426	225,874	368,572	1,210,149	272,774	289,481	316,211	1,097,979	330,366	366,582	541,228	476,130	445,909	310,191	494,930	445,451	710,819	263,602	554,655	475,555	296,163	162,166	375,648	512,461	295,066	87,181	948,032
Cash Flows from Investing Activities:
Sales of fixed maturity securities available-for-sale
2,141,000	-	-	-	3,140,000	-	-	-	1,898,722	-	-	-	1,563,956	-	-	-	977,314	-	-	-	639,676	939,949	613,094	2,172,451	584,491	791,279	939,266	1,103,258	795,575	1,494,445	2,210,637	1,712,836	47,096	827,074	546,579	880,883	910,943	786,109	1,042,475	690,322	800,547
Maturities of fixed maturity securities available-for-sale
283,000	292,511	175,740	242,749	196,000	165,236	133,667	132,548	195,549	203,007	72,463	112,015	201,515	122,599	76,284	156,908	116,644	97,514	109,414	137,718	94,994	186,235	114,275	127,425	111,854	36,286	56,217	26,706	36,028	23,018	18,397	67,571	36,437	23,114	31,539	78,669	85,374	43,039	34,890	49,387	23,371
Proceeds from Sale of Available-for-sale Securities, Equity
177,000	62,160	35,804	36	0	1,048	15,853	-584	29,683	14,179	25,905	14,407	152,509	102,540	199,046	92,506	40,426	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments to Acquire Mortgage Notes Receivable
-189,000	229,291	388,400	691,309	-93,000	347,044	295,486	478,472	-102,002	212,298	288,639	551,898	-88,835	235,431	313,991	684,682	-141,228	1,033,899	-57,224	-97,261	-69,322	1,063,825	-295,242	-46,262	-485	145,984	222,490	165,578	79,361	140,643	125,818	149,924	75,081	91,497	73,018	16,186	28,493	34,854	36,271	48,946	12,730
Payments to Fund Policy Loans
-4,000	-	-	-	-33,000	-	-	-	-10,694	-	-	-	-24,663	-	-	-	-16,939	52,738	-90	-241	-200	151,034	-3,349,482	2,384,332	917,715	18	-17	17	0	50,208	6,443	1,589	0	-	-	-	-	56,167	132	10,293	28,571
Proceeds from Collection of Policy Loans
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-18,390	-21,466	-	374	562	32,378	-	13,182	11,422	330	20,635	773	1,281	6,402	897	0	0	2,412
Principal payments on policy loans
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	572,345	907,271	763,423	1,253,765	1,087,526	1,189,597	1,292,784	867,625	1,504,410
Payments to Acquire Available-for-sale Securities
3,157,000	-	-	-	3,010,000	-	-	-	1,969,899	-	-	-	1,933,120	-	-	-	1,768,881	-	-	-	1,000,335	1,715,859	4,614,698	-94,979	-105,622	1,269,636	1,009,623	1,209,776	1,277,240	-	-	-	-	-	-	-	-	-	-	-	-
Payments to Acquire Available-for-sale Securities, Equity
15,000	234,447	20,821	53,732	3,000	422	648	9,757	2,173	20,210	28,491	17,653	14,646	61,033	114,815	388,396	20,288	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from Sale and Collection of Mortgage Notes Receivable
-541,000	181,306	142,211	406,483	-240,000	154,550	76,759	354,822	-141,131	131,948	72,602	320,025	-184,575	65,084	82,828	600,095	-305,252	1,070,706	-155,561	-259,030	-272,287	960,814	-427,993	0	-52,913	129,428	112,128	97,941	52,157	88,041	39,608	24,232	22,081	32,042	41,481	7,440	11,843	10,499	6,423	6,379	6,121
Payments for (Proceeds from) Policy Loans
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	5,942	685	1	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Increase (Decrease) in Funds Held under Reinsurance Agreements
17,000	8,377	-2,407	17,030	37,000	-7,969	19,208	62,399	-19,638	10,403	5,687	4,157	2,753	1,375	3,354	22,888	4,980	275,672	5,682	25,512	32,196	19,564	-198,978	130,200	135,802	19,954	10,597	30,327	29,829	25,687	21,457	27,062	33,083	13,937	13,221	11,134	-571	13,296	16,189	13,457	60,636
Payments to Acquire Businesses, Net of Cash Acquired
0	-439	0	439	-4,000	559	2,126	4,451	24,864	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments to Acquire Property, Plant, and Equipment
6,000	10,033	6,500	6,467	11,000	8,522	5,905	9,281	5,292	10,758	64,928	-48,579	16,893	44,642	0	0	0	-687	1,296	1,440	21,504	14,019	31,047	43,295	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in short-term investments
58,000	-44,668	-87,155	-42,177	-25,000	-94,144	-44,699	-3,183	13,026	13,664	-42,993	997	-23,668	-47,003	-68,563	-225,409	-124,653	505,016	-12,471	-18,218	-4,325	55,056	682	-73,058	-20,740	97,236	5,876	-139,414	-101,722	-	-	-	-	-	-	-	-	-	-	-	-
Change in other invested assets
96,000	110,525	33,271	63,204	97,000	51,536	152,640	137,471	23,353	70,524	-3,903	41,253	14,126	19,722	69,968	-19,300	27,400	52,051	-52,449	-77,470	-14,092	268,962	4,984	-110,946	-160,427	245,241	-36,932	-15,214	16,805	-11,607	290,422	2,715	-65,256	35,393	12,295	49,689	24,911	57,729	70,841	-93,606	2,431
Net cash (used in) provided by investing activities
-1,096,000	-1,657,794	-215,803	-857,403	93,000	-668,012	131,627	-177,165	76,550	-551,666	-166,659	-778,708	-110,967	-578,320	-189,199	-1,348,610	-709,597	-1,246,799	288,095	30,677	-503,714	-794,181	-421,391	48,904	-144,277	-820,666	-106,457	-22,603	-385,375	-941,363	-241,849	-275,475	-509,309	-166,970	-241,585	-371,429	-125,797	-511,099	-332,429	-100,627	-776,327
Cash Flows from Financing Activities:
Dividends to stockholders
44,000	43,767	43,886	37,347	38,000	37,559	38,071	32,129	32,241	31,914	32,271	26,434	26,381	26,337	26,288	23,727	24,019	24,270	24,592	21,850	22,669	22,669	22,632	20,711	21,244	21,177	21,296	17,416	17,753	17,725	17,696	13,269	13,255	13,190	13,336	8,871	8,832	8,830	8,779	8,777	8,784
Proceeds from (Repayments of) Secured Debt
-19,000	-14,484	-23,872	-23,644	-29,000	-20,854	-22,044	-25,998	-27,104	-11,363	-32,876	-6,853	-16,908	-3,600	-25,602	-28,492	-6,877	0	-2,100	-10,265	-7,367	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayments of Short-term Debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	120,000	-120,000	0	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from long-term debt issuance
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	3,378	394,410	0	-	-	-	-
Net change in short-term debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-50,000	-	7,255	0	112,000	-	-	-	-	-	-	-	-	-	-	-	-
Debt issuance costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-260	0	9,026	0	3,674	-96	-14	1,184	4,260	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayments of Long-term Debt
1,000	-	704	387	1,000	-	676	669	662	-	649	642	300,636	-	623	617	610	-	598	592	586	-	192	0	0	-	-	-	-	-	-	0	0	-	104,245	0	7,586	-	0	0	0
Proceeds from redemption and remarketing of trust preferred securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	154,588	-	-	-	-
Net repayments under credit agreements
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	56,000	-56,000	-	-	-	-
Net borrowing under credit facilities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Retirement of preferred income equity redeemable securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Purchases of treasury stock
156,000	2,769	30,487	18,744	49,000	26,127	108,804	162,453	2,616	2,640	30,782	7,511	3,067	1,020	1,090	15,003	105,803	51,087	70,917	47,850	214,665	493	21,440	92,755	86,837	0	34,514	187,050	47,640	0	0	2,806	4,118	0	40,125	4,265	335,955	0	0	0	718
Excess tax benefits from share-based payment arrangement
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	77	-4,356	600	668	715	-10	2,277	143	678	-238	6	-30	515	1,728	1,758	932	-3,634	597	217	565
Exercise of stock options, net
1,000	1,741	1,669	590	2,000	664	1,084	89	1,163	2,550	1,923	808	1,719	3,569	6,533	1,980	3,239	-1,400	-90	6,882	5,759	-7,764	7,432	3,214	6,364	19,178	-2,227	10,368	1,071	-7,183	4,747	-867	216	-2,231	-6,925	21,416	-5,811	-6,527	796	2,246	5,762
Change in cash collateral for derivative positions and other arrangements
51,000	-95,931	13,145	-35,214	-45,000	65,288	-38,866	-1,959	19,537	-18,794	-39,160	-3,418	-3,628	1,664	-32,306	16,663	40,392	-7,821	91,446	-62,353	31,109	79,152	35,722	17,881	29,680	-4,703	-36,777	-43,390	11,532	-70,037	-47,800	85,469	-100,565	67,930	155,240	14,130	-6,120	-94,730	48,160	62,455	10,439
Deposits on universal life and other investment type policies and contracts
663,000	990,490	62,137	211,373	45,000	543,129	94,995	142,872	83,004	10,437	89,888	714,825	202,850	166,915	361,029	80,995	432,684	72,824	71,777	66,350	66,329	66,886	32,779	15,000	36,257	81,707	80,544	22,465	17,241	368,253	10,324	41,831	37,303	38,868	40,479	274,700	13,724	-6,028	49,296	15,559	65,655
Withdrawals on universal life and other investment type policies and contracts
188,000	536,004	182,701	195,295	195,000	173,351	190,750	173,413	156,486	183,211	166,261	200,744	201,784	142,111	178,157	167,130	41,613	154,696	193,221	166,977	196,623	156,121	150,650	158,907	215,660	220,216	153,089	192,837	204,196	115,854	178,437	10,831	59,922	23,289	-28,594	37,071	110,703	60,513	-4,134	20,770	231,220
Net cash (used in) provided by financing activities
307,000	-101,407	-204,699	495,106	-310,000	350,197	-303,132	-253,660	-115,405	-236,008	-210,188	470,031	-347,835	-1,127	103,496	655,627	297,393	-166,489	-125,315	-76,581	-339,897	254,228	-133,337	-175,678	-200,772	-144,496	100,468	-285,583	-351,602	158,132	164,645	99,533	-140,371	-150,364	61,370	440,752	-249,763	-180,262	94,204	50,930	-158,301
Effect of exchange rate changes on cash
-47,000	28,588	-24,347	-241	7,000	-3,987	-12,260	-41,742	21,989	9,301	9,562	15,304	18,833	-45,374	5,641	-644	20,439	-19,278	-23,523	8,905	-35,090	-31,102	-35,010	11,177	7,306	-10,556	9,696	-30,227	-16,004	-6,058	12,774	-4,252	6,088	1,998	-24,270	11,812	3,923	8,486	19,478	-5,088	-71
Cash and Cash Equivalents, Period Increase (Decrease)
1,371,000	-1,186,863	348,070	267,793	130,000	159,035	332,810	-112,728	206,883	99,128	81,240	-54,764	-22,604	-178,975	345,364	-467,753	-23,193	-222,417	412,031	252,482	-562,490	526,924	-259,372	250,985	203,485	-499,588	449,616	-28,222	-258,051	-343,838	646,389	83,408	-88,937	160,219	91,678	243,301	4,011	-170,414	76,319	32,396	13,333
Supplemental disclosures of cash flow information:
Interest paid
39,000	55,846	38,325	45,829	40,000	45,425	39,905	45,386	39,284	43,864	38,711	44,024	46,401	42,684	45,598	39,333	29,112	44,643	28,844	44,788	29,849	42,801	26,440	41,824	25,434	41,806	16,616	41,835	16,552	24,470	27,420	24,502	24,592	42,912	10,767	34,208	12,846	34,612	12,974	35,573	12,780
Income Taxes Paid, Net
-31,000	29,885	-8,517	19,632	3,000	42,446	40,157	53,041	6,356	9,615	938	14,315	12,132	13,773	3,474	31,516	12,322	28,083	32,801	39,557	-58,864	32,509	11,101	18,121	8,611	10,344	-4,972	96,276	9,125	15,609	40,656	25,623	15,112	18,934	4,968	27,666	77,441	-30,916	8,387	8,892	24,089
Transfer to Investments
0	76,883	2,777,586	2,699,531	721,000	872,805	3,158,821	-711	605,085	1,038,864	3,776	2,241,707	1,653	116,879	1,891	1,041	689	1,750,476	341,964	0	118	2,001,439	-1,580,080	1,580,080	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Capital Expenditures Incurred but Not yet Paid
0	14	-119	105	1,000	0	0	0	0	-	-	-	-	-	-	-	-	-551	-1,317	-2,393	4,514	24,458	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Noncash or Part Noncash Acquisition, Value of Assets Acquired
0	-	0	-16,303	8,000	-	-3,905	-125,132	59,184	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Noncash or Part Noncash Acquisition, Value of Liabilities Assumed
0	-	0	136	-12,000	-	-1,779	-2,313	-34,320	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments to Acquire Businesses, Gross
0	-	-	-	-4,000	-	-	-	24,864	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-