XML 21 R8.htm IDEA: XBRL DOCUMENT v3.25.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net income $ 698 $ 1,600
Income from discontinued operations 0 (803)
Noncash revenues, expenses, gains and losses included in income (loss):    
Net losses on sales of securities available for sale and other assets 260 83
Net (gain) loss on divestitures and other (3) 0
Unrealized gains in earnings - net (317) (196)
Equity in income from equity method investments, net of dividends or distributions (3) (17)
Depreciation and other amortization 866 851
Changes in operating assets and liabilities:    
Insurance reserves (319) 998
Premiums and other receivables and payables - net 392 676
Reinsurance assets, net (537) (1,937)
Capitalization of deferred policy acquisition costs (761) (882)
Current and deferred income taxes - net 165 176
Other, net (497) (293)
Total adjustments (754) (541)
Net cash provided by (used in) operating activities - continuing operations (56) 256
Net cash provided by operating activities - discontinued operations 0 265
Net cash provided by (used in) operating activities (56) 521
Sales or distributions of:    
Available for sale securities 4,762 2,861
Other securities 18 72
Other invested assets 316 237
Maturities of fixed maturity securities available for sale 2,060 2,137
Principal payments received on and sales of mortgage and other loans receivable 254 134
Purchases of:    
Available for sale securities (7,951) (4,001)
Other securities (40) (134)
Other invested assets (256) (123)
Mortgage and other loans receivable (75) (129)
Net change in short-term investments 3,877 1,973
Other, net (214) (47)
Net cash provided by investing activities - continuing operations 2,751 2,980
Net cash used in investing activities - discontinued operations 0 (2,674)
Net cash provided by investing activities 2,751 306
Proceeds from (payments for)    
Purchase of common stock (2,229) (1,640)
Redemption of preferred stock 0 (485)
Dividends on preferred stock and preferred stock redemption premiums 0 (22)
Dividends on common stock (234) (243)
Other, net 34 (232)
Net cash used in financing activities - continuing operations (2,677) (3,082)
Net cash provided by financing activities - discontinued operations 0 1,938
Net cash used in financing activities (2,677) (1,144)
Effect of exchange rate changes on cash and restricted cash 18 (29)
Net increase (decrease) in cash and restricted cash 36 (346)
Cash and restricted cash at beginning of year 1,372 1,573
Cash and restricted cash of held for sale assets 0 210
Cash and restricted cash at end of period 1,408 1,437
Cash Equivalents, Restricted Cash and Restricted Cash Equivalents:    
Cash 1,393 1,406
Restricted cash included in Short-term investments [1] 2 1
Restricted cash included in Other assets [1] 13 30
Total cash and restricted cash shown in the Condensed Consolidated Statements of Cash Flows 1,408 1,437
Cash paid during the period for:    
Interest 72 181
Taxes 96 84
Non-cash investing activities:    
Fixed maturity securities available for sale received in connection with pension risk transfer transactions attributed to discontinued operations 0 1,316
Fixed maturity securities and other invested assets received in connection with reinsurance transactions 0 40
Fixed maturity securities and other invested assets transferred in connection with reinsurance transactions (17) (163)
Non-cash financing activities:    
Interest credited to policyholder contract deposits included in financing activities 0 1,146
Fee income debited to policyholder contract deposits included in financing activities 0 (529)
Consolidated VIE    
Proceeds from (payments for)    
Repayments of debt (1) (1)
Consolidated Entity, Excluding Consolidated VIE    
Proceeds from (payments for)    
Repayments of debt $ (247) $ (459)
[1] Includes funds held for tax sharing payments to AIG Parent, security deposits, and replacement reserve deposits related to real estate.