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Consolidated Statements Of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Operating activities    
Net income $ 3,860 $ 3,413
Adjustments to reconcile net income to net cash provided by operating activities:    
Net losses on financial instruments 234 382
Equity in net earnings of other invested assets 73 (258)
Depreciation and amortization 895 751
Deferred income taxes (393) (181)
Share-based compensation 139 122
Changes in operating assets and liabilities:    
Receivables, net (299) (662)
Other invested assets (42) 32
Other assets (529) (412)
Policy liabilities 583 1,548
Unearned income 3,346 (182)
Accounts payable and other liabilities 160 632
Income taxes 391 (159)
Other, net 1 (33)
Net cash provided by operating activities 8,419 4,993
Investing activities    
Purchases of investments (17,648) (13,253)
Proceeds from sale of investments 5,339 7,140
Maturities, calls and redemptions from investments 10,656 4,347
Changes in securities lending collateral 145 (620)
Purchases of subsidiaries, net of cash acquired (1,651) (609)
Purchases of property and equipment (651) (549)
Other, net (46) (58)
Net cash used in investing activities (3,856) (3,602)
Financing activities    
Net proceeds from commercial paper borrowings 90 250
Proceeds from long-term borrowings 2,574 1,300
Repayments of long-term borrowings (1,908) (943)
Proceeds from short-term borrowings 0 1,275
Repayments of Short-term Debt (90) (1,375)
Changes in securities lending payable (145) 620
Changes in bank overdrafts (500) 817
Repurchase and retirement of common stock (1,268) (1,169)
Cash dividends (701) (618)
Proceeds from issuance of common stock under employee stock plans 81 116
Taxes paid through withholding of common stock under employee stock plans (99) (88)
Other, net 5 10
Net cash (used in) provided by financing activities (1,961) 195
Effect of foreign exchange rates on cash and cash equivalents 2 (10)
Change in cash and cash equivalents 2,604 1,576
Cash and cash equivalents at beginning of period 7,387 4,880
Cash and cash equivalents at end of period $ 9,991 $ 6,456