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Consolidated Statement of Cash Flows (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating Activities:    
Net earnings $ 632 $ 589
Adjustments:    
Depreciation and amortization 60 60
Realized (gains) losses on investing activities (10) 69
Net purchases of trading securities (25) (3)
Change in:    
Reinsurance and other receivables (2,470) (1,799)
Other assets (1) (63)
Insurance claims and reserves 1,988 1,668
Payable to reinsurers 434 363
Other liabilities (18) 357
Managed investment entities’ assets/liabilities (67) 26
Other operating activities, net (45) (53)
Net cash provided by operating activities 478 1,214
Purchases of:    
Fixed maturities (1,349) (1,463)
Equity securities (141) (101)
Mortgage loans (141) 0
Other investments (143) (109)
Real estate, property and equipment (100) (40)
Businesses 0 (234)
Proceeds from:    
Maturities and redemptions of fixed maturities 1,451 1,047
Repayments of mortgage loans 17 33
Sales of fixed maturities 116 551
Sales of equity securities 158 95
Sales of other investments 25 49
Sales of real estate, property and equipment 25 2
Cash and cash equivalents of businesses acquired 0 26
Managed investment entities:    
Purchases of investments (1,383) (1,223)
Proceeds from sales and redemptions of investments 1,587 1,832
Other investing activities, net (6) (6)
Net cash provided by investing activities 116 459
Financing Activities:    
Reductions of long-term debt 0 (21)
Issuances of Common Stock 13 11
Repurchases of Common Stock 0 (153)
Cash dividends paid on Common Stock (385) (498)
Issuances of managed investment entities’ liabilities 1,773 621
Retirements of managed investment entities’ liabilities (1,898) (1,284)
Net cash used in financing activities (497) (1,324)
Net Change in Cash and Cash Equivalents 97 349
Cash and cash equivalents at beginning of period 1,225 872
Cash and cash equivalents at end of period $ 1,322 $ 1,221