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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) $ (23) $ 2,116
Adjustments to reconile net income (loss) to net cash provided by (used in) operating activities:    
Realized (gain) loss 631 (230)
Market risk benefit (gain) loss 353 (2,043)
Sales and maturities (purchases) of trading securities, net 583 150
Early extinguishment of debt (gain) loss (94) 0
Change in:    
Deferred acquisition costs, value of business acquired, deferred ales inducements and deferred front-end loads 326 367
Accrued investment income (36) (62)
Insurance liabilities and reinsurance-related balances (154) (2,336)
Accrued expenses (156) 48
Federal income tax accruals (123) 509
Other (566) (721)
Net cash provided by (used in) operating activities 741 (2,202)
Cash Flows from Investing Activities    
Purchases of available-for-sale securities and equity securities (7,785) (5,109)
Sales of available-for-sale securities and equity securities 1,590 1,243
Maturities of available-for-sale securities 5,197 3,610
Purchases of alternative investments (686) (554)
Sales and repayments of alternative investments 574 97
Issuance of mortgage loans on real estate (2,006) (2,132)
Repayment and maturities of mortgage loans on real estate 1,148 624
Repayment (issuance) of policy loans, net (76) (37)
Net change in collateral on investments, certain derivatives and related settlements (306) 3,933
Cash received from disposition, net of cash transferred 0 621
Other 38 (56)
Net cash provided by (used in) investing activities (2,312) 2,240
Cash Flows from Financing Activities    
Payment of long-term debt, including current maturities (300) (100)
Issuance of long-term debt, net of issuance costs 0 346
Payment related to early extinguishment of debt (421) 0
Payment related to sale-leaseback transactions (4) (8)
Proceeds from certain financing arrangements 33 0
Payment related to certain financing arrangements (84) (88)
Policyholder Account Balance [Abstract]    
Deposits 9,623 8,108
Withdrawals (6,250) (6,068)
Transfers from (to) separate accounts, net (303) 87
Issuance of common stock 825 0
Common stock issued for benefit plans (7) (6)
Dividends paid to preferred stockholders (46) (46)
Dividends paid to common stockholders (153) (153)
Net cash provided by (used in) financing activities 2,913 2,072
Net increase (decrease) in cash, invested cash and restricted cash 1,342 2,110
Cash, invested cash and restricted cash as of beginning-of-year 5,801 3,365
Cash, invested cash and restricted cash as of end-of-period $ 7,143 $ 5,475