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Consolidated Statements Of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash Flows from Operating Activities    
Net income (loss) $ 356 $ 454
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Realized (gain) loss 43 491
Trading securities purchases, sales and maturities, net 37 (2,539)
Amortization of deferred gain on business sold through reinsurance (32) (23)
Deferred acquisition costs, value of business acquired, deferred sales inducements and deferred front-end loads deferrals and interest, net of amortization 15 (246)
Change in premiums and fees receivable (33) 130
Change in accrued investment income (145) (63)
Change in future contract benefits and other contract holder funds (2) (600)
Change in reinsurance related assets and liabilities 246 (488)
Change in accrued expenses (201) (10)
Change in federal income tax accruals (42) (231)
Other 99 268
Net cash provided by (used in) operating activities 341 (2,857)
Cash Flows from Investing Activities    
Purchases of available-for-sale securities and equity securities (12,694) (11,315)
Sales of available-for-sale securities and equity securities 1,549 6,480
Maturities of available-for-sale securities 3,710 5,027
Purchases of alternative investments (265) (344)
Sales and repayments of alternative investments 116 104
Issuance of mortgage loans on real estate (1,231) (3,459)
Repayment and maturities of mortgage loans on real estate 856 758
Issuance (repayment) of policy loans, net (50) 35
Net change in collateral on investments, derivatives and related settlements 1,680 623
Other (116) (194)
Net cash provided by (used in) investing activities (6,445) (2,285)
Cash Flows from Financing Activities    
Payment of long-term debt, including current maturities (1,096) (108)
Issuance of long-term debt, net of issuance costs 1,289 495
Payment related to early extinguishment of debt (13) (42)
Proceeds from certain financing arrangements 69 50
Deposits of fixed account values, including the fixed portion of variable 10,559 11,564
Withdrawals of fixed account values, including the fixed portion of variable (4,625) (4,384)
Transfers to and from separate accounts, net 427 (1,142)
Common stock issued for benefit plans (11) (20)
Repurchase of common stock (225) (450)
Dividends paid to common stockholders (233) (227)
Other (5)
Net cash provided by (used in) financing activities 6,136 5,736
Net increase (decrease) in cash, invested cash and restricted cash 32 594
Cash, invested cash and restricted cash as of beginning-of-year 2,563 2,345
Cash, invested cash and restricted cash as of end-of-period $ 2,595 $ 2,939