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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Statement of Cash Flows [Abstract]    
Net cash provided by (used in) operating activities $ 1,496 $ 1,847
Cash flows from investing activities    
Sales, maturities and repayments of fixed maturity securities available-for-sale 24,976 19,378
Sales, maturities and repayments of equity securities 156 25
Sales, maturities and repayments of mortgage loans 3,663 2,821
Sales, maturities and repayments of real estate and real estate joint ventures 106 90
Sales, maturities and repayments of other limited partnership interests 174 146
Purchases of fixed maturity securities available-for-sale (22,143) (26,924)
Purchases of equity securities (12) (35)
Purchases of mortgage loans (2,877) (4,151)
Purchases of real estate and real estate joint ventures (236) (573)
Purchases of other limited partnership interests (682) (480)
Cash received in connection with freestanding derivatives 1,358 4,987
Cash paid in connection with freestanding derivatives (4,788) (1,440)
Net change in policy loans 85 20
Net change in short-term investments (828) (2,125)
Net change in other invested assets (23) (1)
Other, net 17 (75)
Net cash provided by (used in) investing activities (1,054) (8,337)
Cash flows from financing activities    
Policyholder account balances: Deposits 25,722 24,820
Policyholder account balances: Withdrawals (23,527) (20,477)
Net change in payables for collateral under securities loaned and other transactions (1,426) 8,796
Cash received for other transactions with tenors greater than three months 0 50
Cash paid for other transactions with tenors greater than three months (100) (50)
Long-term debt issued 0 1,074
Long-term debt repaid (15) (6)
Collateral financing arrangement repaid (12) (12)
Financing element on certain derivative instruments and other derivative related transactions, net 326 (167)
Treasury stock acquired in connection with share repurchases (999) (500)
Preferred stock issued, net of issuance costs 0 972
Dividends on preferred stock (68) (32)
Dividends on common stock (408) (404)
Other, net (57) 93
Net cash provided by (used in) financing activities (564) 14,157
Effect of change in foreign currency exchange rates on cash and cash equivalents balances (192) (171)
Change in cash and cash equivalents (314) 7,496
Cash and cash equivalents, including subsidiary held-for-sale, beginning of period 20,560 16,598
Cash and cash equivalents, including subsidiary held-for-sale, end of period 20,246 24,094
Cash and cash equivalents, subsidiary held-for-sale, beginning of period 765 0
Cash and cash equivalents, subsidiary held-for-sale, end of period 611 0
Cash and cash equivalents, beginning of period 19,795 16,598
Cash and cash equivalents, end of period 19,635 24,094
Supplemental disclosures of cash flow information    
Net cash paid for Interest 153 136
Net cash paid (received) for Income tax 281 (35)
Change in assets held-for-sale 819 0
Change in liabilities held-for-sale 785 0
Change in net assets held-for-sale 34 0
Non-cash transactions:    
Real estate and real estate joint ventures acquired in satisfaction of debt 170 0
Increase in policyholder account balances associated with funding agreement backed notes issued but not settled $ 400 $ 0