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Condensed Consolidated Statements of Cash Flows (Unaudited)
$ in Millions
9 Months Ended
Sep. 30, 2020
USD ($)
Sep. 30, 2019
USD ($)
Cash Flows from Operating Activities:    
Net cash (used in) provided by operating activities - continuing operations $ 1,045 $ 726
Net cash provided by operating activities - discontinued operations (257) 125
Net cash provided by operating activities 788 851
Proceeds from the sale, maturity, disposal or redemption of:    
Fixed maturities 3,948 5,062
Equity securities 22 20
Mortgage loans on real estate 414 772
Limited partnerships/corporations 229 169
Acquisition of:    
Fixed maturities (4,952) (4,822)
Equity securities (154) (30)
Mortgage loans on real estate (355) (425)
Limited partnerships/corporations (275) (309)
Short-term investments, net (2) 4
Derivatives, net 98 41
Sales from consolidated investment entities 300 484
Purchases within consolidated investment entities (689) (1,120)
Collateral (delivered) received, net (67) (141)
Other investments, net 22 (64)
Net cash used in investing activities - discontinued operations (364) (522)
Net cash (used in) investing activities (1,825) (881)
Cash Flows from Financing Activities:    
Deposits received for investment contracts 4,561 3,483
Maturities and withdrawals from investment contracts (3,953) (4,120)
Settlements on deposit contracts (5) (6)
Repayment of debt with maturities of more than three months 0 (106)
Borrowings of consolidated investment entities 365 853
Repayments of borrowings of consolidated investment entities (613) (726)
Contributions from (distributions to) participants in consolidated investment entities, net 846 598
Proceeds from issuance of common stock, net 4 3
Proceeds from issuance of preferred stock, net 0 293
Share-based compensation (15) (17)
Common stock acquired - Share repurchase (366) (936)
Dividends paid on common stock (58) (23)
Dividends paid on preferred stock (32) (24)
Principal payments for financing leases (16) (3)
Net cash provided by financing activities - discontinued operations 396 599
Net cash provided by (used in) financing activities 1,114 (132)
Net (decrease) increase in cash and cash equivalents 77 (162)
Cash and cash equivalents, beginning of period 1,472 1,538
Cash and cash equivalents, end of period 1,549 1,376
Less: Cash and cash equivalents of discontinued operations, end of period 497 221
Cash and cash equivalents of continuing operations, end of period 1,052 1,155
Consolidating Adjustments    
Cash Flows from Operating Activities:    
Net cash provided by operating activities (325) (435)
Proceeds from the sale, maturity, disposal or redemption of:    
Fixed maturities 0 0
Equity securities 0 0
Mortgage loans on real estate 0 0
Limited partnerships/corporations 0 0
Acquisition of:    
Fixed maturities 0 0
Equity securities 0 0
Mortgage loans on real estate 0 0
Limited partnerships/corporations 0 0
Short-term investments, net 0 0
Derivatives, net 0 0
Sales from consolidated investment entities 0 0
Purchases within consolidated investment entities 0 0
Collateral (delivered) received, net 0 0
Other investments, net 0 0
Net cash used in investing activities - discontinued operations 0 0
Net cash (used in) investing activities 88 (1,085)
Cash Flows from Financing Activities:    
Deposits received for investment contracts 0 0
Maturities and withdrawals from investment contracts 0 0
Settlements on deposit contracts 0 0
Borrowings of consolidated investment entities 0 0
Repayments of borrowings of consolidated investment entities 0 0
Contributions from (distributions to) participants in consolidated investment entities, net 0 0
Proceeds from issuance of common stock, net 0 0
Proceeds from issuance of preferred stock, net   0
Share-based compensation 0 0
Common stock acquired - Share repurchase 0 0
Dividends paid on common stock 0 0
Dividends paid on preferred stock 0 0
Principal payments for financing leases 0 0
Net cash provided by financing activities - discontinued operations 0 0
Net cash provided by (used in) financing activities 237 1,520
Net (decrease) increase in cash and cash equivalents 0 0
Cash and cash equivalents, beginning of period 0 0
Cash and cash equivalents, end of period 0 0
Less: Cash and cash equivalents of discontinued operations, end of period 0 0
Cash and cash equivalents of continuing operations, end of period 0 0
Parent Issuer    
Cash Flows from Operating Activities:    
Net cash provided by operating activities (117) (91)
Proceeds from the sale, maturity, disposal or redemption of:    
Fixed maturities 0 0
Equity securities 0 18
Mortgage loans on real estate 0 0
Limited partnerships/corporations 0 0
Acquisition of:    
Fixed maturities 0 (5)
Equity securities 0 (27)
Mortgage loans on real estate 0 0
Limited partnerships/corporations 0 (4)
Short-term investments, net 0 0
Derivatives, net (2) 0
Sales from consolidated investment entities 0 0
Purchases within consolidated investment entities 0 0
Collateral (delivered) received, net 4 0
Other investments, net 0 0
Net cash used in investing activities - discontinued operations 0 0
Net cash (used in) investing activities 233 778
Cash Flows from Financing Activities:    
Deposits received for investment contracts 0 0
Maturities and withdrawals from investment contracts 0 0
Settlements on deposit contracts 0 0
Borrowings of consolidated investment entities 0 0
Repayments of borrowings of consolidated investment entities 0 0
Contributions from (distributions to) participants in consolidated investment entities, net 0 0
Proceeds from issuance of common stock, net 4 3
Proceeds from issuance of preferred stock, net   293
Share-based compensation (15) (17)
Common stock acquired - Share repurchase (366) (936)
Dividends paid on common stock (58) (23)
Dividends paid on preferred stock (32) (24)
Principal payments for financing leases 0 0
Net cash provided by financing activities - discontinued operations 0 0
Net cash provided by (used in) financing activities (105) (685)
Net (decrease) increase in cash and cash equivalents 11 2
Cash and cash equivalents, beginning of period 212 209
Cash and cash equivalents, end of period 223 211
Less: Cash and cash equivalents of discontinued operations, end of period 0 0
Cash and cash equivalents of continuing operations, end of period 223 211
Subsidiary Guarantor    
Cash Flows from Operating Activities:    
Net cash provided by operating activities 298 425
Proceeds from the sale, maturity, disposal or redemption of:    
Fixed maturities 0 0
Equity securities 0 0
Mortgage loans on real estate 0 0
Limited partnerships/corporations 0 0
Acquisition of:    
Fixed maturities 0 0
Equity securities 0 0
Mortgage loans on real estate 0 0
Limited partnerships/corporations 0 0
Short-term investments, net 0 0
Derivatives, net 0 0
Sales from consolidated investment entities 0 0
Purchases within consolidated investment entities 0 0
Collateral (delivered) received, net 0 0
Other investments, net 0 0
Net cash used in investing activities - discontinued operations 0 (128)
Net cash (used in) investing activities 43 286
Cash Flows from Financing Activities:    
Deposits received for investment contracts 0 0
Maturities and withdrawals from investment contracts 0 0
Settlements on deposit contracts 0
Borrowings of consolidated investment entities 0 0
Repayments of borrowings of consolidated investment entities 0 0
Contributions from (distributions to) participants in consolidated investment entities, net 0 0
Proceeds from issuance of common stock, net 0 0
Proceeds from issuance of preferred stock, net   0
Share-based compensation 0 0
Common stock acquired - Share repurchase 0
Dividends paid on common stock 0
Dividends paid on preferred stock 0
Principal payments for financing leases 0 0
Net cash provided by financing activities - discontinued operations 0 0
Net cash provided by (used in) financing activities (340) (713)
Net (decrease) increase in cash and cash equivalents 1 (2)
Cash and cash equivalents, beginning of period 0 2
Cash and cash equivalents, end of period 1 0
Less: Cash and cash equivalents of discontinued operations, end of period 0 0
Cash and cash equivalents of continuing operations, end of period 1 0
Non-Guarantor Subsidiaries    
Cash Flows from Operating Activities:    
Net cash provided by operating activities 932 952
Proceeds from the sale, maturity, disposal or redemption of:    
Fixed maturities 3,948 5,062
Equity securities 22 2
Mortgage loans on real estate 414 772
Limited partnerships/corporations 229 169
Acquisition of:    
Fixed maturities (4,952) (4,817)
Equity securities (154) (3)
Mortgage loans on real estate (355) (425)
Limited partnerships/corporations (275) (305)
Short-term investments, net (2) 4
Derivatives, net 100 41
Sales from consolidated investment entities 300 484
Purchases within consolidated investment entities (689) (1,120)
Collateral (delivered) received, net (71) (141)
Other investments, net 22 (64)
Net cash used in investing activities - discontinued operations (364) (394)
Net cash (used in) investing activities (2,189) (860)
Cash Flows from Financing Activities:    
Deposits received for investment contracts 4,561 3,483
Maturities and withdrawals from investment contracts (3,953) (4,120)
Settlements on deposit contracts (5) (6)
Borrowings of consolidated investment entities 365 853
Repayments of borrowings of consolidated investment entities (613) (726)
Contributions from (distributions to) participants in consolidated investment entities, net 846 598
Proceeds from issuance of common stock, net 0 0
Proceeds from issuance of preferred stock, net   0
Share-based compensation 0 0
Common stock acquired - Share repurchase 0 0
Dividends paid on common stock 0 0
Dividends paid on preferred stock 0 0
Principal payments for financing leases (16) (3)
Net cash provided by financing activities - discontinued operations 396 599
Net cash provided by (used in) financing activities 1,322 (254)
Net (decrease) increase in cash and cash equivalents 65 (162)
Cash and cash equivalents, beginning of period 1,260 1,327
Cash and cash equivalents, end of period 1,325 1,165
Less: Cash and cash equivalents of discontinued operations, end of period 497 221
Cash and cash equivalents of continuing operations, end of period 828 944
Accounting Standards Update 2016-02    
Non-cash investing and financing activities:    
Initial recognition of operating leases upon adoption of ASU 2016-02 0 146
Leased assets in exchange for finance lease liabilities $ 0 $ 68