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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities      
Net (loss) income $ (165) $ 136 $ 530
Adjustments to reconcile net income to net cash provided by operating activities:      
Amortization and other non-cash items (32) (51) (60)
Net gains and losses on investments and derivatives (624) (266) (341)
Loss (gain) on disposition of operations 1,070 (4) (6)
Interest credited to contractholder funds 435 579 585
Changes in:      
Policy benefits and other insurance reserves (452) (430) (610)
Deferred policy acquisition costs 62 96 125
Reinsurance recoverables, net (198) 90 66
Income taxes 61 (86) 8
Other operating assets and liabilities (279) 245 69
Net cash (used in) provided by operating activities (122) 309 366
Proceeds from sales      
Fixed income securities 6,841 3,370 3,800
Equity securities 1,298 1,591 984
Limited partnership interests 411 336 354
Mortgage loans 0 212 0
Other investments 246 58 61
Investment collections      
Fixed income securities 1,718 1,333 1,355
Mortgage loans 711 550 537
Other investments 116 50 76
Investment purchases      
Fixed income securities (6,694) (5,335) (4,406)
Equity securities (582) (1,431) (844)
Limited partnership interests (255) (375) (398)
Mortgage loans (825) (112) (532)
Other investments (1,169) (45) (103)
Change in short-term investments, net (423) 25 (343)
Change in policy loans and other investments, net 1,032 54 (63)
Sale of ALNY (480) 0 0
Net cash provided by investing activities 1,945 281 478
Cash flows from financing activities      
Contractholder fund deposits 860 753 747
Contractholder fund withdrawals (1,273) (1,373) (1,599)
Proceeds from issuance of notes to related parties 0 0 215
Repayment of notes to related parties (222) 0 (141)
Dividends paid (1,619) 0 (75)
Capital contribution into ALNY prior to sale 660 0 0
Other (48) 23 0
Net cash used in financing activities (1,642) (597) (853)
Net increase (decrease) in cash 181 (7) (9)
Cash at beginning of year 36 43 52
Cash at end of year $ 217 $ 36 $ 43