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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities:    
Net income $ 3,930 $ 1,654
Income (loss) from discontinued operations 0 0
Noncash revenues, expenses, gains and losses included in income:    
Net gains on sales of securities available for sale and other assets (417) (265)
Net (gains) losses on sale or disposal of divested businesses (7) 216
(Gains) losses on extinguishment of debt (8) 17
Unrealized gains in earnings - net (853) (3,197)
Equity in loss from equity method investments, net of dividends or distributions 3 167
Depreciation and other amortization 1,423 1,878
Impairments of assets 6 25
Changes in operating assets and liabilities:    
Insurance reserves 3,628 1,727
Premiums and other receivables and payables - net (2,863) (62)
Reinsurance assets and funds held under reinsurance treaties (2,879) (2,131)
Capitalization of deferred policy acquisition costs (1,422) (1,379)
Current and deferred income taxes - net 756 842
Other, net (657) (78)
Total adjustments (3,290) (2,240)
Net cash provided by (used in) operating activities 640 (586)
Sales or distribution of:    
Available for sale securities 6,200 7,040
Other securities 248 1,577
Other invested assets 1,147 1,447
Maturities of fixed maturity securities available for sale 7,823 6,768
Principal payments received on and sales of mortgage and other loans receivable 2,009 1,014
Purchases of:    
Available for sale securities (15,329) (15,121)
Other securities (64) (317)
Other invested assets (649) (717)
Mortgage and other loans receivable (1,997) (1,733)
Net change in short-term investments 4,067 (6,023)
Other, net (1,950) 5,432
Net cash provided by (used in) investing activities 1,505 (633)
Proceeds from (payments for)    
Policyholder contract deposits 5,716 5,761
Policyholder contract withdrawals (5,190) (4,547)
Issuance of long-term debt and debt of consolidated investment entities 27 38
Repayments of long-term debt and debt of consolidated investment entities (1,515) (363)
Borrowings under syndicated credit facility 0 1,300
Issuance of common stock 0 0
Purchase of common stock (362) (500)
Dividends paid on preferred stock (7) (7)
Dividends paid on common stock (276) (276)
Other, net (102) (288)
Net cash provided by (used in) financing activities (2,114) 1,232
Effect of exchange rate changes on cash and restricted cash (17) 10
Net increase in cash and restricted cash 14 23
Cash and restricted cash at beginning of year 3,230 3,287
Change in cash of businesses held for sale 0 9
Cash and restricted cash at end of period 3,244 3,319
Debt of consolidated investments    
Proceeds from (payments for)    
Issuance of long-term debt and debt of consolidated investment entities 495 635
Repayments of long-term debt and debt of consolidated investment entities $ (900) $ (521)