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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
5 Months Ended 7 Months Ended 12 Months Ended
May 31, 2018
Dec. 31, 2018
Dec. 31, 2019
Dec. 31, 2017
Operating Activities        
Net Income (Loss) Attributable to Parent $ 94 $ 409 $ 359 $ (46)
Adjustments to reconcile net income to net cash provided by operating activities        
Realized Gain (Loss) on Marketable Securities, Cost Method Investments, and Other Investments 107 (142) 275 60
Recognition of Deferred Revenue 0 (38) (59) 0
Amortization of deferred policy acquisition costs (16) (98) 25 (48)
Additions to deferred policy acquisition costs and present value of future profits (1) 0 0 (2)
Depreciation and amortization (accretion), net (1) 31 51 31
Other Operating Activities, Cash Flow Statement 131 63 205 143
Change in reinsurance recoverables (2) (990) (272) 4
Change in accrued and deferred income taxes 274 29 51 (5)
Increase (Decrease) in Deferred Income Taxes and Income Taxes Payable, Net of Income Taxes Receivable, Tax Cuts and Jobs Act of 2017 0 0 0 396
Change in reserve for future policy benefits and unpaid losses and loss adjustment expenses and unearned premiums 45 (503) 141 387
Increase (Decrease) in Other Operating Assets and Liabilities, Net (60) 302 (169) (219)
Net Cash Provided by (Used in) Operating Activities 603 (741) 557 797
Proceeds from the sale/maturity/prepayment of:        
Fixed maturities, available-for-sale 4,397 3,303 3,498 10,315
Proceeds From Sale and Maturity of Fair Value, Option, Fixed Maturity Securties 5 15 6 50
Equity securities, available-for-sale 0 0 0 203
Proceeds from Sale and Maturity and Prepayment of Fair Value, Equity Securities 49 68 213 0
Mortgage loans 116 101 257 396
Proceeds from Limited Partnership Investments 188 83 134 113
Payments for the purchase of:        
Fixed maturities and short-term investments, available-for-sale (2,447) (3,024) (2,589) (8,713)
Equity securities, available-for-sale 0 0 0 (199)
Payments to Acquire Equity Securities, Fair Value Option (25) (10) (5) 0
Mortgage loans (86) (323) (413) (469)
Payments to Acquire Limited Partnership Interests (80) (97) (156) (235)
Proceeds From Sale of Repurchase Agreements     19  
Payment to Acquire Repurchase Agreements 0 22   0
Net payments for derivatives (200) (303) (272) (283)
Net increase (decrease) in policy loans (26) 18 (26) 12
Payments to Acquire Property, Plant, and Equipment   0 0 (18)
Proceeds from Sale of Property, Plant, and Equipment 44      
Payments for (Proceeds from) Short-term Investments (1,494) 1,770 288 251
Other investing activities, net 22 1 2 43
Net cash provided by investing activities 463 1,580 956 1,466
Financing Activities        
Withdrawals and other deductions from investment and universal life-type contracts 1,782 1,959 2,168 4,549
Withdrawals and other deductions from investment and universal life-type contracts 9,206 10,173 11,074 13,749
Net transfers from separate accounts related to investment and universal life-type contracts 6,999 7,360 8,202 7,969
Net increase (decrease) in securities loaned or sold under agreements to repurchase (406) (11) (204) 360
Return of capital to parent (517) 0 (700) (1,396)
Net repayments at maturity or settlement of consumer notes (8) 0 0 (13)
Net cash used for financing activities (1,356) (865) (1,608) (2,280)
Effect of Exchange Rate on Cash and Cash Equivalents 0 0 2 0
Cash, Period Increase (Decrease) (290) (26) (93) (17)
Cash — beginning of year 537 247 221 554
Cash — end of year 247 221 128 537
Supplemental Cash Flow Information [Abstract]        
Income Taxes Paid, Net $ 271 $ 17 $ 25 $ 57