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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash flows from operating activities:    
Net income (loss) [1] $ (828) $ (109)
Adjustments to reconcile Net income (loss) to Net cash provided by (used in) operating activities:    
Interest credited to policyholders’ account balances 269 255
Policy charges and fee income (859) (861)
Net derivative (gains) losses 1,555 815
Investment (gains) losses, net 8 (87)
Realized and unrealized (gains) losses on trading securities (250) 63
Non-cash long-term incentive compensation expense 8 12
Amortization and depreciation [2] 143 201
Amortization of deferred cost of reinsurance asset 0 46
Equity (income) loss from limited partnerships [2] (11) (39)
Changes in:    
Net broker-dealer and customer related receivables/payables 0 283
Reinsurance recoverable (97) (147)
Segregated cash and securities, net 0 (208)
Capitalization of deferred policy acquisition costs [2] (145) (135)
Future policy benefits 41 (198)
Current and deferred income taxes 54 80
Other, net (36) 12
Net cash provided by (used in) operating activities (148) (17)
Proceeds from the sale/maturity/prepayment of:    
Fixed maturities, available-for-sale 2,662 3,238
Mortgage loans on real estate 216 68
Trading account securities 3,376 1,683
Real estate joint ventures 1 140
Short-term investments [2] 747 688
Other 41 (86)
Payment for the purchase/origination of:    
Fixed maturities, available-for-sale (5,065) (2,313)
Mortgage loans on real estate (517) (447)
Trading account securities (518) (2,595)
Short-term investments [2] (681) (377)
Other (62) (48)
Cash settlements related to derivative instruments (978) (503)
Investment in capitalized software, leasehold improvements and EDP equipment (13) (24)
Other, net 97 (407)
Net cash provided by (used in) investing activities (694) (983)
Policyholders’ account balances:    
Deposits 2,271 1,898
Withdrawals (1,048) (1,081)
Transfers (to) from Separate Accounts 445 452
Change in short-term financings 0 (76)
Change in collateralized pledged assets (6) (5)
Change in collateralized pledged liabilities 625 (31)
Increase (decrease) in overdrafts payable 0 7
Repurchase of AB Holding Units 0 (2)
Purchase (redemption) of noncontrolling interests of consolidated company-sponsored investment funds 0 373
Distribution to noncontrolling interests in consolidated subsidiaries 0 (176)
Repayment of loans from affiliates (572) 0
Increase (decrease) in securities sold under agreement to repurchase (573) 17
Other, net 0 4
Net cash provided by (used in) financing activities 1,142 1,380
Effect of exchange rate changes on cash and cash equivalents 0 8
Change in cash and cash equivalents 300 388
Cash and cash equivalents, beginning of year 2,622  
Cash and cash equivalents, end of period 2,922 3,797
Cash and cash equivalents of disposed subsidiary:    
Beginning of year   1,009
End of period   1,235
Cash and cash equivalents of continuing operations    
Beginning of year 2,622 3,409
End of period 2,922 3,797
Cash flows of disposed subsidiary:    
operating activities   274
investing activities   (182)
financing activities   126
Effect of exchange rate changes on cash and cash equivalents   8
Non-cash transactions during the period    
(Settlement) issuance of long-term debt [1] (202)
Transfer of assets to reinsurer [1] $ (604)
[1] Net income (loss) includes $155 million in the three months ended March 31, 2018 of the discontinued operations that are not included in Net income (loss) in the Consolidated Statements of Income (Loss).
[2] Prior period amounts have been reclassified to conform to the current period’s presentation. See Note 14 for further information.