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Consolidated Statement of Cash Flows (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating Activities:    
Net earnings $ 451 $ 412
Adjustments:    
Depreciation and amortization 39 39
Realized (gains) losses on investing activities (12) 46
Net purchases of trading securities (12) (2)
Change in:    
Reinsurance and other receivables 112 (354)
Other assets 12 (40)
Insurance claims and reserves (115) 391
Payable to reinsurers (10) 3
Other liabilities (185) 24
Managed investment entities’ assets/liabilities (239) 70
Other operating activities, net (22) (71)
Net cash provided by operating activities 19 518
Purchases of:    
Fixed maturities (821) (851)
Equity securities (94) (76)
Mortgage loans (141) 0
Other investments (94) (73)
Real estate, property and equipment (71) (33)
Proceeds from:    
Maturities and redemptions of fixed maturities 930 705
Repayments of mortgage loans 9 32
Sales of fixed maturities 99 401
Sales of equity securities 81 67
Sales of other investments 15 43
Sales of real estate, property and equipment 25 2
Managed investment entities:    
Purchases of investments (1,078) (951)
Proceeds from sales and redemptions of investments 1,135 1,104
Other investing activities, net (1) (2)
Net cash provided by (used in) investing activities (6) 368
Financing Activities:    
Reductions of long-term debt 0 (21)
Issuances of Common Stock 10 8
Repurchases of Common Stock 0 (67)
Cash dividends paid on Common Stock (327) (446)
Issuances of managed investment entities’ liabilities 1,774 617
Retirements of managed investment entities’ liabilities (1,574) (861)
Net cash used in financing activities (117) (770)
Net Change in Cash and Cash Equivalents (104) 116
Cash and cash equivalents at beginning of period 1,225 872
Cash and cash equivalents at end of period $ 1,121 $ 988