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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:      
Net income (loss) $ 3,097 $ (926) $ 3,878
(Income) loss from discontinued operations 0 3,626 (1,137)
Noncash revenues, expenses, gains and losses included in income (loss):      
Net losses on sales of securities available for sale and other assets 706 637 662
Net (gain) loss on divestitures and other (81) (616) 29
(Gain) loss on extinguishment of debt (5) 14 (37)
Unrealized (gains) losses in earnings - net (423) (571) 1,075
Equity in income from equity method investments, net of dividends or distributions 0 (54) (15)
Depreciation and other amortization 3,455 3,597 3,841
Impairments of assets 322 27 21
Changes in operating assets and liabilities:      
Insurance reserves 93 341 823
Premiums and other receivables and payables - net (1,168) (571) 544
Reinsurance assets, net 501 727 (204)
Capitalization of deferred policy acquisition costs (3,438) (3,519) (4,157)
Current and deferred income taxes - net 452 468 (338)
Other, net (197) 197 1,968
Total adjustments 217 677 4,212
Net cash provided by operating activities - continuing operations 3,314 3,377 6,953
Net cash used in operating activities - discontinued operations 0 (104) (710)
Net cash provided by operating activities 3,314 3,273 6,243
Sales or distributions of:      
Available for sale securities 12,411 14,063 15,242
Other securities 546 263 360
Other invested assets 4,086 6,588 960
Divestitures, net 0 587 2,568
Maturities of fixed maturity securities available for sale 8,905 9,223 9,083
Principal payments received on and sales of mortgage and other loans receivable 1,304 1,007 1,265
Purchases of:      
Available for sale securities (25,373) (22,990) (22,020)
Other securities (241) (267) (242)
Other invested assets (851) (557) (1,017)
Mortgage and other loans receivable (261) (470) (1,021)
Net change in short-term investments 3,485 (1,538) (5,911)
Other, net (821) (66) (1,754)
Net cash provided by (used in) investing activities - continuing operations 3,190 5,843 (2,487)
Net cash used in investing activities - discontinued operations 0 (4,171) (4,534)
Net cash provided by (used in) investing activities 3,190 1,672 (7,021)
Proceeds from (payments for)      
Issuance of long-term debt 1,241 661 742
Purchase of common stock (5,836) (6,652) (2,961)
Redemption of preferred stock 0 (485) 0
Dividends on preferred stock and preferred stock redemption premiums 0 (22) (29)
Dividends on common stock (976) (1,002) (997)
Other, net 129 605 2,846
Net cash used in financing activities - continuing operations (6,543) (8,943) (2,748)
Net cash provided by financing activities - discontinued operations 0 3,880 3,530
Net cash provided by (used in) financing activities (6,543) (5,063) 782
Effect of exchange rate changes on cash and restricted cash 12 (83) (13)
Net decrease in cash and restricted cash (27) (201) (9)
Cash and restricted cash at beginning of year 1,372 1,573 1,571
Cash and restricted cash of held for sale assets 0 0 11
Cash and restricted cash at end of year 1,345 1,372 1,573
Cash Equivalents, Restricted Cash and Restricted Cash Equivalents:      
Cash 1,274 1,302 1,540
Restricted cash included in Short-term investments [1] 55 55 1
Restricted cash included in Other assets [1] 16 15 32
Total cash and restricted cash shown in the Consolidated Statements of Cash Flows 1,345 1,372 1,573
Cash paid during the period for:      
Interest 389 858 1,059
Taxes 330 708 984
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 4,317
Fixed maturity securities and other invested assets received in connection with reinsurance transactions 0 256 110
Fixed maturity securities and other invested assets transferred in connection with reinsurance transactions 0 (148) (838)
Non-cash consideration received from sale of Validus Re 0 0 290
Non-cash financing activities:      
Interest credited to policyholder contract deposits included in financing activities 0 2,416 4,501
Fee income debited to policyholder contract deposits included in financing activities 0 (1,426) (2,122)
Consolidated Entity, Excluding Consolidated VIE      
Proceeds from (payments for)      
Repayments of debt (1,099) (2,047) (2,304)
Consolidated VIE      
Proceeds from (payments for)      
Repayments of debt $ (2) $ (1) $ (45)
[1] Includes funds held for tax sharing payments to AIG Parent, security deposits, and replacement reserve deposits related to real estate.