XML 1034 R7.htm IDEA: XBRL DOCUMENT v3.8.0.1
Consolidated Statements of Cash Flows
$ in Millions
12 Months Ended
Dec. 31, 2017
USD ($)
Dec. 31, 2016
USD ($)
Dec. 31, 2015
USD ($)
Cash flows from operating activities      
Net income (loss) $ 4,020 $ 854 $ 5,385
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Depreciation and amortization expenses 795 652 693
Amortization of premiums and accretion of discounts associated with investments, net (1,044) (1,110) (1,141)
(Gains) losses on investments and from sales of businesses, net 363 (183) (560)
(Gains) losses on derivatives, net 3,610 8,779 1,371
(Income) loss from equity method investments, net of dividends or distributions 194 475 481
Interest credited to policyholder account balances 6,260 6,282 5,610
Universal life and investment-type product policy fees (7,708) (9,207) (9,507)
Goodwill impairment 0 260 0
Change in fair value option and trading securities (436) 111 784
Change in accrued investment income (280) (31) 138
Change in premiums, reinsurance and other receivables (991) (2,158) (831)
Change in deferred policy acquisition costs and value of business acquired, net (693) (937) 488
Change in income tax (2,796) (1,522) 715
Change in other assets 691 3,248 2,752
Change in insurance-related liabilities and policy-related balances 8,511 6,321 6,408
Change in other liabilities 1,603 2,801 1,172
Other, net 184 139 94
Net cash provided by (used in) operating activities 12,283 14,774 14,052
Cash flows from investing activities      
Sales, maturities and repayments of fixed maturity securities 95,945 150,658 146,732
Sales, maturities and repayments of equity securities 1,433 1,241 1,117
Sales, maturities and repayments of mortgage loans 10,353 12,977 12,647
Sales, maturities and repayments of real estate and real estate joint ventures 972 826 3,256
Sales, maturities and repayments of other limited partnership interests 1,082 1,542 1,827
Purchases of fixed maturity securities (105,683) (146,397) (148,799)
Purchases of equity securities (920) (1,006) (996)
Purchases of mortgage loans (14,374) (21,017) (20,449)
Purchases of real estate and real estate joint ventures (1,446) (1,515) (1,298)
Purchases of other limited partnership interests (1,486) (1,313) (1,429)
Cash received in connection with freestanding derivatives 5,315 4,259 2,690
Cash paid in connection with freestanding derivatives (8,696) (6,963) (4,211)
Cash received under repurchase agreements 0 0 199
Cash paid under repurchase agreements 0 0 (199)
Cash received under reverse repurchase agreements 0 0 199
Cash paid under reverse repurchase agreements 0 0 (199)
Cash disposed due to distribution of Brighthouse (663) 0 0
Sales of businesses, net of cash and cash equivalents disposed of $0, $135 and $0, respectively 0 156 0
Purchases of businesses (211) 0 0
Purchases of investments in operating joint ventures 0 (39) 0
Net change in policy loans (67) 195 287
Net change in short-term investments 2,087 1,270 (777)
Net change in other invested assets (171) (267) (936)
Other, net (346) (457) (59)
Net cash provided by (used in) investing activities (16,876) (5,850) (10,398)
Cash flows from financing activities      
Policyholder account balances: Deposits 88,511 88,188 92,904
Policyholder account balances: Withdrawals (82,380) (83,263) (94,621)
Net change in payables for collateral under securities loaned and other transactions 903 (3,636) 1,544
Long-term debt issued 3,657 0 3,893
Long-term debt repaid (1,073) (1,279) (1,438)
Collateral financing arrangements repaid (2,951) (68) (57)
Distribution of Brighthouse (2,793) 0 0
Financing element on certain derivative instruments and other derivative related transactions, net (151) (1,367) 181
Treasury stock acquired in connection with share repurchases (2,927) (372) (1,930)
Preferred stock issued, net of issuance costs 0 0 1,483
Repurchase of preferred stock 0 0 (1,460)
Preferred stock repurchase premium 0 0 (42)
Dividends on preferred stock (103) (103) (116)
Dividends on common stock (1,717) (1,736) (1,653)
Other, net 118 139 94
Net cash provided by (used in) financing activities (906) (3,497) (1,218)
Effect of change in foreign currency exchange rates on cash and cash equivalents balances 323 (302) (492)
Change in cash and cash equivalents (5,176) 5,125 1,944
Cash and cash equivalents, beginning of year 17,877 12,752 10,808
Cash and cash equivalents, end of year 12,701 17,877 12,752
Cash and cash equivalents, of disposed subsidiary, beginning of year 5,226 1,570 1,603
Cash and cash equivalents, of disposed subsidiary, end of year 0 5,226 1,570
Cash and cash equivalents, from continuing operations, beginning of year 12,651 11,182 9,205
Cash and cash equivalents, from continuing operations, end of year 12,701 12,651 11,182
Supplemental disclosures of cash flow information:      
Net cash paid for Interest 1,118 1,202 1,178
Net cash paid (received) for Income tax 1,530 672 1,127
Assets disposed, date of Separation 225,502 0 0
Liabilities disposed, date of Separation (210,999) 0 0
Net Assets disposed, date of Separation 14,503 0 0
Cash disposed, date of Separation (3,456) 0 0
Net non-cash disposed, date of Separation 11,047 0 0
Non-cash transactions      
Fixed maturity securities received in connection with pension risk transfer transactions 0 985 903
Reduction of fixed maturity securities in connection with a reinsurance transaction 0 224 0
Reduction of other invested assets in connection with a reinsurance transaction 0 676 0
Deconsolidation of operating joint venture (Note 8):      
Reduction of fixed maturity securities 0 917 0
Reduction of noncontrolling interests 0 373 0
Reduction of long-term debt 0 0 571
Reduction of real estate and real estate joint ventures $ 0 $ 0 $ 688