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Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net income $ 8,048,000,000 $ 4,080,000,000
Loss from discontinued operations, net of income taxes 1,000,000 0
Noncash revenues, expenses, gains and losses included in income (loss):    
Net (gains) losses on sales of securities available for sale and other assets 749,000,000 (579,000,000)
Net (gain) loss on divestitures (39,000,000) (6,000,000)
Loss on extinguishment of debt 299,000,000 98,000,000
Unrealized gains in earnings - net (3,238,000,000) (1,267,000,000)
Equity in (income) loss from equity method investments, net of dividends or distributions (180,000,000) 31,000,000
Depreciation and other amortization 2,698,000,000 2,370,000,000
Impairments of assets 1,000,000 25,000,000
Changes in operating assets and liabilities:    
Insurance reserves 1,402,000,000 4,889,000,000
Premiums and other receivables and payables - net (7,646,000,000) (1,381,000,000)
Reinsurance assets, net 20,000,000 (1,928,000,000)
Capitalization of deferred policy acquisition costs (2,543,000,000) (2,688,000,000)
Current and deferred income taxes - net 1,842,000,000 199,000,000
Other, net (783,000,000) (1,033,000,000)
Total adjustments (7,418,000,000) (1,270,000,000)
Net cash provided by operating activities 631,000,000 2,810,000,000
Sales or distributions of:    
Available for sale securities 14,660,000,000 12,559,000,000
Other securities 769,000,000 465,000,000
Other invested assets 1,565,000,000 1,807,000,000
Maturities of fixed maturity securities available for sale 10,416,000,000 17,749,000,000
Principal payments received on and sales of mortgage and other loans receivable 3,542,000,000 4,115,000,000
Purchases of:    
Available for sale securities (21,832,000,000) (34,667,000,000)
Other securities (2,143,000,000) (95,000,000)
Other invested assets (1,023,000,000) (1,558,000,000)
Mortgage and other loans receivable (7,592,000,000) (3,719,000,000)
Net change in short-term investments 3,787,000,000 3,065,000,000
Other, net 385,000,000 (1,366,000,000)
Net cash provided by (used in) investing activities 2,534,000,000 (1,645,000,000)
Proceeds from (payments for)    
Policyholder contract deposits 12,457,000,000 13,172,000,000
Policyholder contract withdrawals (9,467,000,000) (11,214,000,000)
Issuance of debt 6,476,000,000 54,000,000
Repayments of debt (7,600,000,000) (1,839,000,000)
Purchase of common stock (3,105,000,000) (592,000,000)
Dividends paid on preferred stock (15,000,000) (15,000,000)
Dividends paid on common stock (506,000,000) (550,000,000)
Other, net (900,000,000) (298,000,000)
Net cash used in financing activities (2,793,000,000) (1,300,000,000)
Effect of exchange rate changes on cash and restricted cash (72,000,000) (34,000,000)
Net increase (decrease) in cash and restricted cash 301,000,000 (169,000,000)
Cash and restricted cash at beginning of year 2,427,000,000 3,230,000,000
Cash and restricted cash at end of period 2,728,000,000 3,061,000,000
Cash Equivalents, Restricted Cash and Restricted Cash Equivalents:    
Cash 2,378,000,000 [1] 2,760,000,000
Total cash and restricted cash shown in the Condensed Consolidated Statements of Cash Flows 2,728,000,000 3,061,000,000
Cash paid during the period for:    
Interest 574,000,000 592,000,000
Taxes 265,000,000 596,000,000
Non-cash investing activities:    
Fixed maturity securities available for sale received in connection with pension risk transfer transactions 0 477,000,000
Fixed maturity securities received in connection with reinsurance transactions 2,000,000 161,000,000
Fixed maturity securities transferred in connection with reinsurance transactions (212,000,000) (695,000,000)
Non-cash financing activities:    
Interest credited to policyholder contract deposits included in financing activities 1,728,000,000 1,783,000,000
Fee income debited to policyholder contract deposits included in financing activities (844,000,000) (847,000,000)
Consolidated VIE    
Proceeds from (payments for)    
Issuance of debt 808,000,000 2,542,000,000
Repayments of debt (941,000,000) (2,560,000,000)
Cash Equivalents, Restricted Cash and Restricted Cash Equivalents:    
Cash 86,000,000  
Short-term investments    
Cash Equivalents, Restricted Cash and Restricted Cash Equivalents:    
Restricted cash [2] 281,000,000 59,000,000
Other assets    
Cash Equivalents, Restricted Cash and Restricted Cash Equivalents:    
Restricted cash [2] $ 69,000,000 $ 242,000,000
[1] See Note 8 for details of balances associated with variable interest entities.
[2] Includes funds held for tax sharing payments to AIG Parent, security deposits, and replacement reserve deposits related to real estate.