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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
1 Months Ended 5 Months Ended 6 Months Ended
Jun. 30, 2018
May 31, 2018
Jun. 30, 2017
Operating Activities      
Net Income (Loss) $ 57 $ 94 $ 187
Adjustments to reconcile net income to net cash provided by operating activities      
Net realized capital losses (gains) (4) 107 28
Recognition of Deferred Revenue (9) 0 0
Amortization of deferred policy acquisition costs 7 16 18
Additions to deferred policy acquisition costs 0 (1) (1)
Depreciation and amortization 4 (1) 14
Other operating activities, net 24 131 141
Change in assets and liabilities:      
(Increase) decrease in reinsurance recoverables (1,540) (2) 49
Increase (decrease) in accrued deferred income taxes 5 274 96
Increase in unpaid losses and loss adjustment expenses, reserve for future policy benefits (58) 45 91
Net change in other assets and other liabilities 38 (60) (98)
Net Cash Provided by (Used in) Operating Activities (1,476) 603 525
Proceeds from the sale/maturity/prepayment of:      
Fixed maturities, available-for-sale 221 4,397 5,843
Fixed maturities, fair value option 10 5 25
Equity securities, fair value 0 49 150
Mortgage loans 4 116 204
Partnerships 10 188 64
Payments for the purchase of:      
Fixed maturities, available-for-sale (270) (2,447) (5,496)
Equity securities, fair value (1) (25) (166)
Mortgage loans (78) (86) (162)
Partnerships (14) (80) (107)
Change in derivatives, net (15) (200) (39)
Payments for (Proceeds from) Policy Loans 12 (26) 11
Net additions to property and equipment 0   (15)
Proceeds from Sale of Property, Plant, and Equipment   44  
Payments for (proceeds from) short-term investments 1,643 (1,494) (642)
Other investing activities, net (4) 22 14
Net cash provided by (used in) investing activities 1,518 463 (316)
Financing Activities      
Deposits and other additions to investment and universal life-type contracts 565 1,782 2,495
Withdrawals and other deductions from investment and universal life-type contracts (2,419) (9,206) (7,042)
Net transfers from separate accounts related to investment and universal life-type contracts (1,815) (6,999) (3,976)
Net increase (decrease) in securities loaned or sold under agreements to repurchase (32) (406) 379
Payments of Capital Distribution 0 (517) (299)
Net repayments at maturity or settlement of consumer notes 0 (8) (11)
Net cash used for financing activities (71) (1,356) (502)
Cash, Period Increase (Decrease) (29) (290) (293)
Cash - beginning of period 247 537 554
Cash - end of period 218 247 261
Supplemental Disclosure of Cash Flow Information      
Income taxes received (paid) $ 0 $ 271 $ 45