XML 19 R8.htm IDEA: XBRL DOCUMENT v3.10.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Statement of Cash Flows [Abstract]    
Net income (loss) $ (2,091) $ 1,559
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Interest credited to policyholders’ account balances (495) (448)
Policy charges and fee income (1,773) (1,698)
Net derivative (gains) losses 1,172 (1,362)
Investment (gains) losses, net (82) 1
Realized and unrealized gains (losses) on trading securities 181 (133)
Amortization of deferred compensation 15 21
Amortization of deferred sales commission 13 17
Other depreciation and amortization (45) (61)
Amortization of deferred cost of reinsurance asset 1,885 (171)
Distribution from joint ventures and limited partnerships 44 50
Changes in:    
Net broker-dealer and customer related receivables/payables 479 9
Reinsurance recoverable 15 (194)
Segregated cash and securities, net (473) (132)
Deferred policy acquisition costs 89 (20)
Future policy benefits 396 1,303
Current and deferred income taxes (645) 204
Other, net 416 84
Net cash provided by (used in) operating activities 1,190 (75)
Proceeds from the sale/maturity/prepayment of:    
Fixed maturities, available for sale 4,810 1,841
Mortgage loans on real estate 153 399
Trading account securities 4,843 5,241
Other 260 110
Payment for the purchase/origination of:    
Fixed maturities, available for sale (5,407) (1,840)
Mortgage loans on real estate (1,004) (1,041)
Trading account securities (5,075) (6,936)
Other (99) (149)
Cash settlements related to derivative instruments (267) (907)
Increase in loans to affiliates (1,100) 0
Decrease in loans to affiliates 700 0
Change in short-term investments 248 (508)
Investment in capitalized software, leasehold improvements and EDP equipment (46) (41)
Other, net 379 243
Net cash provided by (used in) investing activities (1,605) (3,588)
Policyholders’ account balances:    
Deposits 5,227 4,109
Withdrawals (2,611) (1,557)
Transfer (to) from Separate Accounts (305) 767
Change in short-term financings (51) (1)
Change in collateralized pledged assets 0 1,248
Change in collateralized pledged liabilities 694 192
Increase (decrease) in Overdrafts payable (29) 69
Cash received on the recapture of captive reinsurance 1,099 0
Repurchase of AB Holding units from noncontrolling interest (25) (128)
Redemption of noncontrolling interests of consolidated VIEs, net (516) (75)
Distribution to noncontrolling interests in consolidated subsidiaries (334) (243)
Increase (decrease) in Securities sold under agreement to repurchase (37) (199)
Other, net (27) 0
Net cash provided by (used in) financing activities 1,986 4,182
Effect of exchange rate changes on cash and cash equivalents (6) 11
Change in cash and cash equivalents 1,565 530
Cash and cash equivalents, beginning of year 3,409 2,950
Cash and Cash Equivalents, end of period 4,974 3,480
Non-cash transactions during the period(1)    
Repayment of long-term debt [1] 202 0
Transfer of assets to reinsurer [1] (604) 0
Repayment of loan to affiliates [1] $ 300 $ 0
[1] See Note 11 for significant non-cash transactions related to the GMxB unwind and related merger of AXA RE Arizona.