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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Cash flows from operating activities      
Net income (loss) $ 804 $ 5,322 $ 6,336
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Depreciation and amortization expenses 652 693 713
Amortization of premiums and accretion of discounts associated with investments, net (1,110) (1,141) (611)
(Gains) losses on investments and from sales of businesses, net (171) (597) 202
(Gains) losses on derivatives, net 8,963 1,451 (21)
(Income) loss from equity method investments, net of dividends or distributions 475 481 327
Interest credited to policyholder account balances 6,282 5,610 6,943
Universal life and investment-type product policy fees 9,206 9,507 9,946
Goodwill impairment 260 0 0
Change in fair value option and trading securities 111 784 (739)
Change in accrued investment income (31) 138 207
Change in premiums, reinsurance and other receivables (2,125) (837) (650)
Change in deferred policy acquisition costs and value of business acquired, net (949) 491 1,134
Change in income tax (1,557) 825 2,075
Change in other assets 3,248 2,752 2,573
Change in insurance-related liabilities and policy-related balances 6,279 6,366 5,847
Change in other liabilities 2,766 1,134 1,885
Other, net 136 164 101
Net cash provided by (used in) operating activities 14,827 14,129 16,376
Cash flows from investing activities      
Sales, maturities and repayments of fixed maturity securities 150,658 146,732 118,526
Sales, maturities and repayments of equity securities 1,241 1,117 490
Sales, maturities and repayments of mortgage loans 12,977 12,647 14,128
Sales, maturities and repayments of real estate and real estate joint ventures 826 3,256 1,012
Sales, maturities and repayments of other limited partnership interests 1,542 1,827 823
Purchases of fixed maturity securities (146,397) (148,799) (130,197)
Purchases of equity securities (1,006) (996) (530)
Purchases of mortgage loans (21,017) (20,449) (17,464)
Purchases of real estate and real estate joint ventures (1,515) (1,298) (2,282)
Purchases of other limited partnership interests (1,313) (1,429) (1,764)
Cash received in connection with freestanding derivatives 4,259 2,690 1,760
Cash paid in connection with freestanding derivatives (6,963) (4,211) (4,003)
Cash received under repurchase agreements 0 199 0
Cash paid under repurchase agreements 0 (199) 0
Cash received under reverse repurchase agreements 0 199 0
Cash paid under reverse repurchase agreements 0 (199) 0
Sales of businesses, net of cash and cash equivalents disposed of $135, $0 and $323, respectively 156 0 436
Purchases of investments in operating joint ventures (39) 0 (277)
Net change in policy loans 195 287 (27)
Net change in short-term investments 1,270 (777) 5,167
Net change in other invested assets (267) (936) (512)
Other, net (457) (59) (341)
Net cash provided by (used in) investing activities (5,850) (10,398) (15,055)
Cash flows from financing activities      
Policyholder account balances: Deposits 88,188 92,904 89,520
Policyholder account balances: Withdrawals (83,263) (94,621) (88,037)
Net change in payables for collateral under securities loaned and other transactions (3,636) 1,544 5,031
Net change in short-term debt 38 0 (75)
Long-term debt issued 0 3,893 1,000
Long-term debt repaid (1,279) (1,438) (2,862)
Collateral financing arrangements repaid (68) (57) 0
Financing element on certain derivative instruments, net (1,367) 181 (747)
Common stock issued, net of issuance costs 0 0 1,000
Treasury stock acquired in connection with share repurchases (372) (1,930) (1,000)
Preferred stock issued, net of issuance costs 0 1,483 0
Repurchase of preferred stock 0 (1,460) 0
Preferred stock repurchase premium 0 (42) 0
Dividends on preferred stock (103) (116) (122)
Dividends on common stock (1,736) (1,653) (1,499)
Other, net 48 17 47
Net cash provided by (used in) financing activities (3,550) (1,295) 2,256
Effect of change in foreign currency exchange rates on cash and cash equivalents balances (302) (492) (354)
Change in cash and cash equivalents 5,125 1,944 3,223
Cash and cash equivalents, beginning of year 12,752 10,808 7,585
Cash and cash equivalents, end of year 17,877 12,752 10,808
Cash and cash equivalents, of disposed subsidiary, beginning of year 1,570 1,603 1,097
Cash and cash equivalents, of disposed subsidiary, end of year 5,226 1,570 1,603
Cash and cash equivalents, from continuing operations, beginning of year 11,182 9,205 6,488
Cash and cash equivalents, from continuing operations, end of year 12,651 11,182 9,205
Supplemental disclosures of cash flow information:      
Net cash paid for Interest 1,202 1,178 1,213
Net cash paid (received) for Income tax 672 1,127 748
Non-cash transactions      
Fixed maturity securities received in connection with pension risk transfer transactions 985 903 0
Reduction of fixed maturity securities in connection with a reinsurance transaction 224 0 0
Reduction of other invested assets in connection with a reinsurance transaction 676 0 0
Deconsolidation of operating joint venture (Note 8):      
Reduction of fixed maturity securities 917 0 0
Reduction of noncontrolling interests 373 0 0
Reduction of redeemable noncontrolling interests 0 0 774
Reduction of long-term debt 0 571 413
Reduction of real estate and real estate joint ventures $ 0 $ 688 $ 1,132