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Consolidated Statements Of Cash Flows - USD ($)
$ in Millions
3 Months Ended 6 Months Ended 9 Months Ended 12 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Jun. 30, 2022
Jun. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash Flows from Operating Activities                  
Net income (loss) $ 92 $ 219 $ 319 $ 864 $ (2,264) $ 1,180 $ (2,241) $ 1,887 $ 499
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:                  
Realized (gain) loss (25) 180 (540) 179 (752) 100 (345) (414) 513
Sales and maturities (purchases) of trading securities, net (187) 118 117 230 163 239 300 (87) 266
Amortization of deferred gain on business sold through reinsurance (11) (9) (22) (17) (31) (27) (42) (38) (41)
Impairment of intangibles         634   634    
Change in:                  
Deferred acquisition costs, value of business acquired, deferred sales inducements and deferred front-end loads deferrals and interest, net of amortization 31 54   112 74 346 118 312 48
Premiums and fees receivable (91) (161) (76) (97) (3) (98) (54) (93) (21)
Accrued investment income (35) (41) (40) (10) (80) (34) (67) 16 (84)
Insurance liabilities and reinsurance-related balances 1,275 (762) 3,116 (1,431) 6,166 (1,779) 5,958 (1,955) (699)
Accrued expenses (262) (40) (371) 42 (402) 246 (89) 392 (18)
Federal income tax accruals 39 35 69 166 (498) 215 (535) 361 (98)
Other (74) (216) 135 (251) 383 (263) 399 (213) 169
Net cash provided by (used in) operating activities 752 (623) 2,707 (213) 3,390 125 4,036 168 534
Cash Flows from Investing Activities                  
Purchases of available-for-sale securities and equity securities (3,934) (3,854) (8,204) (8,324) (12,008) (11,917) (14,813) (16,915) (16,761)
Sales of available-for-sale securities and equity securities 105 571 308 1,269 1,196 1,452 2,297 2,268 1,426
Maturities of available-for-sale securities 1,604 1,913 3,231 4,700 4,333 7,055 5,453 9,621 5,354
Purchases of alternative investments (161) (163) (329) (361) (484) (506) (664) (757) (396)
Sales and repayments of alternative investments 131 54 183 128 383 258 446 377 171
Issuance of mortgage loans on real estate (539) (887) (1,366) (1,632) (1,924) (2,210) (2,507) (3,079) (1,800)
Repayment and maturities of mortgage loans on real estate 717 403 1,428 851 1,872 1,274 2,255 1,881 1,154
Repayment (issuance) of policy loans, net 25 (76) (5) 16 17 48 5 62 50
Net change in collateral on investments, derivatives and related settlements 16 1,341 (1,893) 1,888 (3,155) 2,312 (4,070) 3,261 1,474
Other (104) (33) (101) (71) (93) (219) (48) (303) (153)
Net cash provided by (used in) investing activities (2,140) (731) (6,748) (1,536) (9,863) (2,453) (11,646) (3,584) (9,481)
Cash Flows from Financing Activities                  
Payment of long-term debt, including current maturities (300)   (300)   (300)   (300)   (1,096)
Issuance of long-term debt, net of issuance costs 297   297   296   296   1,289
Payment related to modification or early extinguishment of debt           (8)   (8) (13)
Payment related to sale-leaseback transactions (4)   (47)   (52)   (70) (59) (47)
Proceeds from certain financing arrangements     53 50 53 50 186 159 109
Deposits of fixed account values, including the fixed portion of variable 3,046 3,140 6,900 6,378 11,062 9,152 15,229 12,643 14,034
Withdrawals of fixed account values, including the fixed portion of variable (1,884) (1,773) (3,352) (3,276) (4,997) (4,961) (6,913) (6,554) (6,113)
Transfers from (to) separate accounts, net 70 (130) 116 (255) 71 (254) (195) (397) 528
Common stock issued for benefit plans (10) 7 (14) 12 (15) 14 (16) 20 (7)
Issuance of preferred stock, net of issuance costs             986    
Repurchase of common stock (400) (105) (500) (255) (550) (455) (550) (1,105) (275)
Dividends paid to common stockholders (79) (80) (157) (161) (234) (241) (310) (319) (311)
Other   (63)   (63) (1) (63) (2) (60) (6)
Net cash provided by (used in) financing activities 736 996 2,996 2,430 5,333 3,234 8,341 4,320 8,092
Net increase (decrease) in cash, invested cash and restricted cash (652) (358) (1,045) 681 (1,140) 906 731 904 (855)
Cash, invested cash and restricted cash as of beginning-of-year 2,612 1,708 2,612 1,708 2,612 1,708 2,612 1,708 2,563
Cash, invested cash and restricted cash as of end-of-period $ 1,960 $ 1,350 $ 1,567 $ 2,389 $ 1,472 $ 2,614 $ 3,343 $ 2,612 $ 1,708