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Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net income (loss) $ (1,827) $ 4,351
(Income) loss from discontinued operations 3,580 (2,472)
Noncash revenues, expenses, gains and losses included in income (loss):    
Net losses on sales of securities available for sale and other assets 132 578
Net gain on divestitures and other (94) (89)
Loss on extinguishment of debt 1 21
Unrealized (gains) losses in earnings - net (4) 564
Equity in income from equity method investments, net of dividends or distributions (57) (4)
Depreciation and other amortization 2,607 2,893
Impairments of assets 24 14
Changes in operating assets and liabilities:    
Insurance reserves 1,864 2,554
Premiums and other receivables and payables - net (539) 122
Reinsurance assets, net (1,199) (1,597)
Capitalization of deferred policy acquisition costs (2,665) (3,319)
Current and deferred income taxes - net (5) 176
Other, net 1,434 951
Total adjustments 1,499 2,864
Net cash provided by operating activities - continuing operations 3,252 4,743
Net cash used in operating activities - discontinued operations (104) (119)
Net cash provided by operating activities 3,148 4,624
Sales or distributions of:    
Available for sale securities 7,323 12,969
Other securities 192 320
Other invested assets 1,298 645
Divestitures, net 6 237
Maturities of fixed maturity securities available for sale 6,887 6,096
Principal payments received on and sales of mortgage and other loans receivable 483 741
Purchases of:    
Available for sale securities (13,254) (18,263)
Other securities (224) (204)
Other invested assets (364) (505)
Mortgage and other loans receivable (294) (718)
Net change in short-term investments 1,324 (1,621)
Other, net (187) (1,292)
Net cash provided by (used in) investing activities - continuing operations 3,190 (1,595)
Net cash used in investing activities - discontinued operations (4,171) (2,478)
Net cash used in investing activities (981) (4,073)
Proceeds from (payments for)    
Purchase of common stock (4,830) (1,927)
Redemption of preferred stock (485) 0
Dividends on preferred stock and preferred stock redemption premiums (22) (22)
Dividends on common stock (758) (748)
Other, net 137 628
Net cash used in financing activities - continuing operations (6,468) (2,008)
Net cash provided by financing activities - discontinued operations 4,409 1,769
Net cash used in financing activities (2,059) (239)
Effect of exchange rate changes on cash and restricted cash (37) (37)
Net increase in cash and restricted cash 71 275
Cash and restricted cash at beginning of year 1,573 1,571
Cash and restricted cash of held for sale assets (85) (395)
Cash and restricted cash at end of period 1,559 1,451
Cash Equivalents, Restricted Cash and Restricted Cash Equivalents:    
Cash 1,472 1,424
Restricted cash included in Short-term investments [1] 72 1
Restricted cash included in Other assets [1] 15 26
Total cash and restricted cash shown in the Condensed Consolidated Statements of Cash Flows 1,559 1,451
Cash paid during the period for:    
Interest 581 745
Taxes 811 473
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) (825)
Non-cash financing activities:    
Interest credited to policyholder contract deposits included in financing activities 2,416 3,217
Fee income debited to policyholder contract deposits included in financing activities (1,426) (1,567)
Consolidated VIE    
Proceeds from (payments for)    
Repayments of debt (1) (6)
Consolidated Entity, Excluding Consolidated VIE    
Proceeds from (payments for)    
Issuance of debt 1 742
Repayments of debt $ (510) $ (675)
[1] Includes funds held for tax sharing payments to AIG Parent, security deposits, and replacement reserve deposits related to real estate.