XML 45 R9.htm IDEA: XBRL DOCUMENT v3.25.0.1
Consolidated Statement of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating Activities:      
Net earnings $ 887 $ 852 $ 898
Adjustments:      
Depreciation and amortization 81 78 100
Realized gains (losses) on investing activities 0 38 110
Net purchases of trading securities (26) (5) (2)
Change in:      
Reinsurance and other receivables (769) (794) (644)
Other assets 10 (19) (138)
Insurance claims and reserves 1,225 1,318 1,105
Payable to reinsurers 5 151 115
Other liabilities (153) 72 (69)
Managed investment entities’ assets/liabilities (80) 305 (183)
Other operating activities, net (28) (26) (139)
Net cash provided by operating activities 1,152 1,970 1,153
Investing Activities:      
Purchases of fixed maturities (2,136) (2,005) (4,387)
Purchases of equity securities (187) (146) (239)
Purchases of mortgage loans (191) 0 (273)
Purchases of other investments (247) (150) (141)
Purchases of real estate, property and equipment (133) (72) (86)
Purchases of businesses (9) (234) (10)
Proceeds from maturities and redemptions of fixed maturities 2,145 1,310 2,511
Proceeds from repayments of mortgage loans 41 34 118
Proceeds from sales of fixed maturities 124 650 1,294
Proceeds from sales of equity securities 179 164 174
Proceeds from sales of other investments 107 78 141
Proceeds from sales of real estate, property and equipment 30 3 31
Cash and cash equivalents of businesses acquired 0 26 0
Managed investment entities:      
Purchases of investments (1,880) (1,466) (1,515)
Proceeds from sales and redemptions of investments 2,257 2,228 1,335
Other investing activities, net (5) (6) (4)
Net cash provided by (used in) investing activities 95 414 (1,051)
Financing Activities:      
Reductions of long-term debt 0 (21) (477)
Issuances of Common Stock 17 15 16
Repurchases of Common Stock 0 (213) (11)
Cash dividends paid on Common Stock (788) (684) (1,213)
Issuances of managed investment entities’ liabilities 2,336 670 1,206
Retirements of managed investment entities’ liabilities (2,631) (1,798) (882)
Net cash used in financing activities (1,066) (2,031) (1,361)
Net Change in Cash and Cash Equivalents 181 353 (1,259)
Cash and cash equivalents at beginning of year 1,225 872 2,131
Cash and cash equivalents at end of year $ 1,406 $ 1,225 $ 872