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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities      
Net income $ 136,000,000 $ 530,000,000 $ 365,000,000
Adjustments to reconcile net income to net cash provided by operating activities:      
Amortization and other non-cash items (51,000,000) (60,000,000) (58,000,000)
Realized capital gains and losses (266,000,000) (341,000,000) 175,000,000
Gain on disposition of operations (4,000,000) (6,000,000) (6,000,000)
Interest credited to contractholder funds 579,000,000 585,000,000 601,000,000
Changes in:      
Policy benefits and other insurance reserves (430,000,000) (610,000,000) (612,000,000)
Deferred policy acquisition costs 96,000,000 125,000,000 67,000,000
Reinsurance recoverables, net 90,000,000 66,000,000 51,000,000
Income taxes (86,000,000) 8,000,000 (64,000,000)
Other operating assets and liabilities 245,000,000 69,000,000 136,000,000
Net cash provided by operating activities 309,000,000 366,000,000 655,000,000
Proceeds from sales      
Fixed income securities 3,370,000,000 3,800,000,000 4,858,000,000
Equity securities 1,591,000,000 984,000,000 1,257,000,000
Limited partnership interests 336,000,000 354,000,000 367,000,000
Mortgage loans 212,000,000 0 0
Other investments 58,000,000 61,000,000 39,000,000
Investment collections      
Fixed income securities 1,333,000,000 1,355,000,000 1,448,000,000
Mortgage loans 550,000,000 537,000,000 434,000,000
Other investments 50,000,000 76,000,000 168,000,000
Investment purchases      
Fixed income securities (5,335,000,000) (4,406,000,000) (5,444,000,000)
Equity securities (1,431,000,000) (844,000,000) (1,086,000,000)
Limited partnership interests (375,000,000) (398,000,000) (551,000,000)
Mortgage loans (112,000,000) (532,000,000) (552,000,000)
Other investments (45,000,000) (103,000,000) (270,000,000)
Change in short-term investments, net 25,000,000 (343,000,000) (3,000,000)
Change in policy loans and other investments, net 54,000,000 (63,000,000) (69,000,000)
Net cash provided by investing activities 281,000,000 478,000,000 596,000,000
Cash flows from financing activities      
Contractholder fund deposits 753,000,000 747,000,000 771,000,000
Contractholder fund withdrawals (1,373,000,000) (1,599,000,000) (1,893,000,000)
Proceeds from issuance of notes to related parties 0 215,000,000 0
Repayment of notes to related parties 0 (141,000,000) 0
Dividends paid 0 (75,000,000) (250,000,000)
Other 23,000,000 0 28,000,000
Net cash used in financing activities (597,000,000) (853,000,000) (1,344,000,000)
Net decrease in cash (7,000,000) (9,000,000) (93,000,000)
Cash at beginning of year 43,000,000 52,000,000 145,000,000
Cash at end of year $ 36,000,000 $ 43,000,000 $ 52,000,000