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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 265 $ 1,249 $ 700
Adjustments to reconcile net income to cash provided by operating activities:      
Provision for policy losses and other claims 486 589 580
Depreciation and amortization 167 158 149
Impairment losses on exit of business 0 0 55
Amortization of premiums and accretion of discounts on debt securities, net 19 47 39
Net investment losses (gains) 516 (436) (105)
Share-based compensation 67 54 52
Equity in earnings of affiliates, net (11) (7) (6)
Dividends from equity method investments 11 12 7
Changes in assets and liabilities excluding effects of acquisitions and noncash transactions:      
Claims paid, including assets acquired, net of recoveries (434) (482) (471)
Net change in income tax accounts (130) 53 29
Decrease (increase) in accounts and accrued income receivable 83 (48) (53)
(Decrease) increase in accounts payable and accrued liabilities (266) 115 130
(Decrease) increase in deferred revenue (28) (47) 19
Other, net 35 (37) (40)
Cash provided by operating activities 780 1,220 1,085
CASH FLOWS FROM INVESTING ACTIVITIES:      
Net cash effect of acquisitions/dispositions (278) (187) (393)
Net (increase) decrease in deposits with banks (8) (15) 1
Purchases of debt securities (2,980) (6,138) (2,749)
Proceeds from sales of debt securities 1,753 1,071 759
Proceeds from maturities of debt securities 1,171 1,864 1,630
Purchases of equity securities (157) (198) (194)
Proceeds from sales of equity securities 241 172 103
Net change in other investments (7) (12) (11)
Advances under secured financing agreements (15,658) (25,926) (17,584)
Collections of secured financings receivable 15,778 26,109 17,123
Capital expenditures (260) (161) (114)
Proceeds from sales of property and equipment 7 18 14
Proceeds from insurance settlement 3 10 0
Cash used for investing activities (395) (3,393) (1,415)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Net change in deposits 451 1,792 (60)
Borrowings under secured financing agreements 15,533 24,602 15,442
Repayments of secured financings payable (15,695) (24,594) (15,205)
Net proceeds from issuance of unsecured senior notes 0 642 444
Borrowings under unsecured credit facility 0 0 120
Repayments of borrowings under unsecured credit facility 0 0 (280)
Repayments of other notes and contracts payable (7) (6) (6)
Net activity related to noncontrolling interests (2) (4) (3)
Net proceeds (payments) in connection with share-based compensation 2 6 (1)
Repurchases of Company shares (441) (99) (139)
Payments of cash dividends (217) (213) (199)
Cash (used for) provided by financing activities (376) 2,126 113
Effect of exchange rate changes on cash (13) 0 6
Net decrease in cash and cash equivalents (4) (47) (211)
Cash and cash equivalents—Beginning of year 1,228 1,275 1,486
Cash and cash equivalents—End of year 1,224 1,228 1,275
SUPPLEMENTAL INFORMATION:      
Interest 87 64 54
Premium taxes 113 86 72
Income taxes, less refunds of $2 and $3 in 2022 and 2020, respectively $ 189 $ 339 $ 193