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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net income (loss) $ 1,842 $ (2,284)
Loss from discontinued operations 0 3,556
Noncash revenues, expenses, gains and losses included in income (loss):    
Net losses on sales of securities available for sale and other assets 453 259
Net gain on divestitures and other (53) (102)
(Gain) loss on extinguishment of debt (5) 1
Unrealized gains in earnings - net (805) (349)
Equity in (income) loss from equity method investments, net of dividends or distributions 13 (46)
Depreciation and other amortization 1,749 1,751
Impairments of assets 0 26
Changes in operating assets and liabilities:    
Insurance reserves 754 2,082
Premiums and other receivables and payables - net (813) (544)
Reinsurance assets, net (598) (1,748)
Capitalization of deferred policy acquisition costs (1,688) (1,803)
Current and deferred income taxes - net 501 (63)
Other, net (15) 817
Total adjustments (507) 281
Net cash provided by operating activities - continuing operations 1,335 1,553
Net cash used in operating activities - discontinued operations 0 (104)
Net cash provided by operating activities 1,335 1,449
Sales or distributions of:    
Available for sale securities 7,387 5,148
Other securities 86 112
Other invested assets 1,342 763
Maturities of fixed maturity securities available for sale 4,101 4,938
Principal payments received on and sales of mortgage and other loans receivable 660 266
Purchases of:    
Available for sale securities (13,300) (7,987)
Other securities (76) (180)
Other invested assets (718) (218)
Mortgage and other loans receivable (202) (239)
Net change in short-term investments 4,449 323
Other, net (414) (51)
Net cash provided by investing activities - continuing operations 3,315 2,875
Net cash used in investing activities - discontinued operations 0 (4,171)
Net cash provided by (used in) investing activities 3,315 (1,296)
Proceeds from (payments for)    
Issuance of long-term debt 1,241 1
Repayments of debt (1,087) (464)
Purchase of common stock (4,007) (3,325)
Redemption of preferred stock 0 (485)
Dividends on preferred stock and preferred stock redemption premiums 0 (22)
Dividends on common stock (488) (504)
Other, net 129 771
Net cash used in financing activities - continuing operations (4,212) (4,028)
Net cash provided by financing activities - discontinued operations 0 3,880
Net cash used in financing activities (4,212) (148)
Effect of exchange rate changes on cash and restricted cash 31 (66)
Net increase (decrease) in cash and restricted cash 469 (61)
Cash and restricted cash at beginning of year 1,372 1,573
Cash and restricted cash of held for sale assets 0 (110)
Cash and restricted cash at end of period 1,841 1,402
Cash Equivalents, Restricted Cash and Restricted Cash Equivalents:    
Cash 1,825 1,381
Restricted cash included in Short-term investments [1] 2 3
Restricted cash included in Other assets [1] 14 18
Total cash and restricted cash shown in the Condensed Consolidated Statements of Cash Flows 1,841 1,402
Cash paid during the period for:    
Interest 200 470
Taxes 158 709
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 0 254
Fixed maturity securities and other invested assets transferred in connection with reinsurance transactions (17) (148)
Non-cash financing activities:    
Interest credited to policyholder contract deposits included in financing activities 0 2,416
Fee income debited to policyholder contract deposits included in financing activities $ 0 $ (1,426)
[1] Includes funds held for tax sharing payments to AIG Parent, security deposits, and replacement reserve deposits related to real estate.