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Consolidated Statements Of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Operating activities    
Net income $ 2,004 $ 1,779
Adjustments to reconcile net income to net cash provided by operating activities:    
Net losses on financial instruments 113 151
Equity in net earnings of other invested assets 30 (153)
Depreciation and amortization 462 358
Deferred income taxes (255) (96)
Share-based compensation 61 50
Changes in operating assets and liabilities:    
Receivables, net (29) (1,348)
Other invested assets (15) 7
Other assets (348) (350)
Policy liabilities 306 1,092
Unearned income 3,282 57
Accounts payable and other liabilities 18 428
Income taxes 839 568
Other, net 1 (2)
Net cash provided by operating activities 6,469 2,541
Investing activities    
Purchases of investments (7,443) (5,050)
Proceeds from sale of investments 2,489 3,047
Maturities, calls and redemptions from investments 3,533 1,209
Changes in securities lending collateral 204 (441)
Purchases of subsidiaries, net of cash acquired (1,638) (61)
Purchases of property and equipment (301) (254)
Other, net (28) (28)
Net cash used in investing activities (3,184) (1,578)
Financing activities    
Net proceeds from commercial paper borrowings 325 225
Proceeds from long-term borrowings 2,574 0
Repayments of long-term borrowings (1,908) (14)
Changes in securities lending payable (205) 441
Changes in bank overdrafts (291) 529
Repurchase and retirement of common stock (622) (545)
Cash dividends (351) (309)
Proceeds from issuance of common stock under employee stock plans 43 76
Taxes paid through withholding of common stock under employee stock plans (98) (86)
Other, net 2 5
Net cash (used in) provided by financing activities (531) 322
Effect of foreign exchange rates on cash and cash equivalents 1 (4)
Change in cash and cash equivalents 2,755 1,281
Cash and cash equivalents at beginning of period 7,387 4,880
Cash and cash equivalents at end of period $ 10,142 $ 6,161