XML 17 R7.htm IDEA: XBRL DOCUMENT v3.10.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Cash flows from operating activities      
Net income $ 365 $ 996 $ 319
Adjustments to reconcile net income to net cash provided by operating activities:      
Amortization and other non-cash items (58) (64) (64)
Realized capital gains and losses 175 (49) 77
Gain on disposition of operations (6) (7) (5)
Interest credited to contractholder funds 601 639 677
Changes in:      
Policy benefits and other insurance reserves (612) (529) (611)
Deferred policy acquisition costs 67 31 54
Reinsurance recoverables, net 51 56 30
Income taxes (64) (308) 135
Other operating assets and liabilities 136 (159) (117)
Net cash provided by operating activities 655 606 495
Proceeds from sales      
Fixed income securities 4,858 3,916 5,999
Equity securities 1,257 1,536 1,298
Limited partnership interests 367 539 371
Other investments 39 45 44
Investment collections      
Fixed income securities 1,448 1,733 2,085
Mortgage loans 434 566 363
Other investments 168 208 169
Investment purchases      
Fixed income securities (5,444) (4,698) (7,072)
Equity securities (1,086) (1,385) (1,234)
Limited partnership interests (551) (631) (677)
Mortgage loans (552) (503) (517)
Other investments (270) (238) (211)
Change in short-term investments, net (3) (12) (19)
Change in policy loans and other investments, net (69) (37) (26)
Net cash provided by investing activities 596 1,039 573
Cash flows from financing activities      
Contractholder fund deposits 771 808 854
Contractholder fund withdrawals (1,893) (1,823) (2,028)
Proceeds from issuance of notes to related parties 0 0 140
Dividends paid (250) (600) 0
Other 28 (23) 0
Net cash used in financing activities (1,344) (1,638) (1,034)
Net (decrease) increase in cash (93) 7 34
Cash at beginning of year 145 138 104
Cash at end of year $ 52 $ 145 $ 138