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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash Flows from Operating Activities    
Net income $ 938 $ 838
Adjustments to reconcile net income to net cash flows provided by operating activities:    
Deferred income tax expense 42 12
Trading portfolio activity (1) (1)
Net investment losses 42 105
Equity method investees (93) 37
Net amortization of investments (153) (140)
Depreciation and amortization 51 44
Changes in:    
Receivables, net (404) (84)
Accrued investment income (15) (39)
Deferred acquisition costs (45) (74)
Insurance reserves 1,559 1,184
Other, net (53) (117)
Net cash flows provided by operating activities 1,868 1,765
Dispositions:    
Fixed maturity securities - sales 2,335 3,284
Fixed maturity securities - maturities, calls and redemptions 1,755 960
Equity securities 388 192
Limited partnerships 45 138
Mortgage loans 75 110
Purchases:    
Fixed maturity securities (5,016) (5,459)
Equity securities (332) (200)
Limited partnerships (235) (322)
Mortgage loans (43) (75)
Change in other investments (2) 6
Change in short-term investments 329 (99)
Purchases of property and equipment (57) (67)
Other, net (4) (5)
Net cash flows used by investing activities (762) (1,537)
Cash Flows from Financing Activities    
Dividends paid to common stockholders (906) (673)
Proceeds from the issuance of debt 490 491
Repayment of debt (550) 0
Purchase of treasury stock (20) (24)
Other, net (12) (12)
Net cash flows used by financing activities (998) (218)
Effect of foreign exchange rate changes on cash 3 0
Net change in cash 111 10
Cash, beginning of year 345 475
Cash, end of period $ 456 $ 485