XML 27 R9.htm IDEA: XBRL DOCUMENT v3.25.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:      
Net earnings $ 5,443 $ 4,659 $ 4,418
Adjustments to reconcile net earnings to net cash provided (used) by operating activities:      
Change in receivables and advance premiums 51 (133) 5
Capitalization of deferred policy acquisition costs (1,056) (1,086) (1,054)
Amortization of deferred policy acquisition costs 851 816 792
Increase in policy liabilities (302) (552) 726
Change in income tax liabilities (393) (967) (509)
Net investment (gains) losses (1,271) (590) (363)
Other, net (616) 1,043 (136)
Net cash provided (used) by operating activities 2,707 3,190 3,879
Proceeds from investments sold or matured:      
Available-for-sale fixed maturity securities 7,205 3,811 4,418
Equity securities 782 404 570
Held-to-maturity fixed maturity securities 3 3 3
Commercial mortgage and other loans 2,435 1,641 2,190
Costs of investments acquired:      
Available for sale fixed maturity securities (5,542) (2,801) (3,514)
Equity securities (411) (357) (461)
Commercial mortgage and other loans (1,376) (996) (3,897)
Other investments, net (972) (417) (227)
Settlement of derivatives, net (184) 79 (61)
Cash received (pledged or returned) as collateral, net 780 (401) (673)
Other, net 61 (149) 112
Net cash provided (used) by investing activities 2,781 817 (1,540)
Cash flows from financing activities:      
Purchases of treasury stock (2,800) (2,801) (2,401)
Proceeds from borrowings 823 204 1,277
Principal payments under debt obligations (194) 0 (1,416)
Dividends paid to shareholders (1,087) (966) (979)
Change in investment-type contracts, net (214) (160) (83)
Treasury stock reissued 14 17 17
Other, net (28) (17) 34
Net cash provided (used) by financing activities (3,486) (3,723) (3,551)
Effect of exchange rate changes on cash and cash equivalents (79) 79 104
Net change in cash and cash equivalents 1,923 363 (1,108)
Cash and cash equivalents, beginning of period 4,306 3,943 5,051
Cash and cash equivalents, end of period 6,229 4,306 3,943
Supplemental disclosures of cash flow information:      
Income taxes paid 1,367 1,569 961
Interest paid 180 185 211
Noncash interest 17 10 14
Noncash real estate acquired in satisfaction of debt 468 217 0
Noncash financing activities:      
Lease obligations 33 75 102
Associate stock bonus      
Treasury stock issued for:      
Treasury stock issued 20 17 14
Shareholder dividend reinvestment      
Treasury stock issued for:      
Treasury stock issued 41 37 37
Share-based compensation grants      
Treasury stock issued for:      
Treasury stock issued $ 6 $ 5 $ 6