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Consolidated Statements Of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash Flows from Operating Activities    
Net income (loss) $ 926 $ 358
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Realized (gain) loss (39) 435
Trading securities purchases, sales and maturities, net 210 (44)
Amortization of deferred gain on business sold through reinsurance (14) (18)
Change in:    
Deferred acquisition costs, value of business acquired, deferred sales inducements and deferred front-end loads deferrals and interest, net of amortization 109 (155)
Premiums and fees receivable (98) (25)
Accrued investment income (11) (20)
Insurance liabilities and reinsurance-related balances (3) (328)
Accrued expenses 35 (269)
Federal income tax accruals 167 17
Cash management agreement (1,223) (476)
Other (219) 198
Net cash provided by (used in) operating activities (160) (327)
Cash Flows from Investing Activities    
Purchases of available-for-sale securities and equity securities (8,192) (8,437)
Sales of available-for-sale securities and equity securities 1,277 1,573
Maturities of available-for-sale securities 4,570 2,323
Purchases of alternative investments (360) (165)
Sales and repayments of alternative investments 128 81
Issuance of mortgage loans on real estate (1,611) (1,071)
Repayment and maturities of mortgage loans on real estate 846 596
Issuance (repayment) of policy loans, net 16 (74)
Net change in collateral on investments, derivatives and related settlements 1,704 2,593
Other (67) (88)
Net cash provided by (used in) investing activities (1,689) (2,669)
Cash Flows from Financing Activities    
Capital contribution from Lincoln National Corporation 65 475
Payment of long-term debt, including current maturities (60) (30)
Issuance of long-term debt, net of issuance costs   30
Issuance (payment) of short-term debt (40) 19
Proceeds from certain financing arrangements 50 69
Deposits of fixed account values, including the fixed portion of variable 6,367 7,261
Withdrawals of fixed account values, including the fixed portion of variable (3,283) (3,291)
Transfers to and from separate accounts, net (229) 216
Common stock issued for benefit plans (11) (7)
Dividends paid to Lincoln National Corporation (495) (406)
Other (63)  
Net cash provided by (used in) financing activities 2,301 4,336
Net increase (decrease) in cash, invested cash and restricted cash 452 1,340
Cash, invested cash and restricted cash as of beginning-of-year 1,462 1,879
Cash, invested cash and restricted cash as of end-of-period $ 1,914 $ 3,219