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Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net income (loss) $ (2,284) $ 1,604
(Income) loss from discontinued operations 3,556 (426)
Noncash revenues, expenses, gains and losses included in income (loss):    
Net losses on sales of securities available for sale and other assets 259 452
Net (gain) loss on divestitures and other (102) 12
(Gain) loss on extinguishment of debt 1 0
Unrealized gains in earnings - net (349) (33)
Equity in (income) loss from equity method investments, net of dividends or distributions (46) 18
Depreciation and other amortization 1,751 2,024
Impairments of assets 26 12
Changes in operating assets and liabilities:    
Insurance reserves 2,082 3,174
Premiums and other receivables and payables - net (544) (936)
Reinsurance assets, net (1,748) (2,551)
Capitalization of deferred policy acquisition costs (1,803) (2,396)
Current and deferred income taxes - net (63) (124)
Other, net 817 603
Total adjustments 281 255
Net cash provided by operating activities - continuing operations 1,553 1,433
Net cash used in operating activities - discontinued operations (104) (322)
Net cash provided by operating activities 1,449 1,111
Sales or distributions of:    
Available for sale securities 5,148 10,704
Other securities 112 157
Other invested assets 763 407
Divestitures, net 0 3
Maturities of fixed maturity securities available for sale 4,938 4,376
Principal payments received on and sales of mortgage and other loans receivable 266 587
Purchases of:    
Available for sale securities (7,987) (15,417)
Other securities (180) (163)
Other invested assets (218) (338)
Mortgage and other loans receivable (239) (601)
Net change in short-term investments 323 1,138
Other, net (51) (662)
Net cash provided by investing activities - continuing operations 2,875 191
Net cash used in investing activities - discontinued operations (4,171) (832)
Net cash used in investing activities (1,296) (641)
Proceeds from (payments for)    
Purchase of common stock (3,325) (1,117)
Redemption of preferred stock (485) 0
Dividends on preferred stock and preferred stock redemption premiums (22) (15)
Dividends on common stock (504) (494)
Other, net 242 723
Net cash used in financing activities - continuing operations (4,557) (615)
Net cash provided by financing activities - discontinued operations 4,409 500
Net cash used in financing activities (148) (115)
Effect of exchange rate changes on cash and restricted cash (66) 18
Net increase (decrease) in cash and restricted cash (61) 373
Cash and restricted cash at beginning of year 1,573 1,571
Cash and restricted cash at end of period 1,402 1,560
Cash and restricted cash of held for sale assets (110) (384)
Cash Equivalents, Restricted Cash and Restricted Cash Equivalents:    
Cash 1,381 [1] 1,531
Restricted cash included in Short-term investments [2] 3 3
Restricted cash included in Other assets [2] 18 26
Total cash and restricted cash shown in the Condensed Consolidated Statements of Cash Flows 1,402 1,560
Cash paid during the period for:    
Interest 470 636
Taxes 709 368
Non-cash investing activities:    
Fixed maturity securities available for sale received in connection with pension risk transfer transactions 1,316 2,818
Fixed maturity securities and other invested assets received in connection with reinsurance transactions 254 0
Fixed maturity securities and other invested assets transferred in connection with reinsurance transactions (148) (714)
Non-cash financing activities:    
Interest credited to policyholder contract deposits included in financing activities 2,416 2,145
Fee income debited to policyholder contract deposits included in financing activities (1,426) (1,044)
Consolidated VIE    
Proceeds from (payments for)    
Repayments of debt 0 (3)
Consolidated Entity, Excluding Consolidated VIE    
Proceeds from (payments for)    
Issuance of debt 1 742
Repayments of debt $ (464) $ (451)
[1] See Note 10 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.