XML 18 R7.htm IDEA: XBRL DOCUMENT v3.19.2
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash flows from operating activities:    
Net income (loss) [1] $ (563) $ (2,037)
Adjustments to reconcile Net income (loss) to Net cash provided by (used in) operating activities:    
Interest credited to policyholders’ account balances 557 495
Policy charges and fee income (1,724) (1,744)
Net derivative (gains) losses 1,733 1,100
Investment (gains) losses, net 20 (82)
Realized and unrealized (gains) losses on trading securities (401) 181
Non-cash long-term incentive compensation expense 17 15
Amortization and depreciation [2] 268 357
Amortization of deferred cost of reinsurance asset 0 1,885
Equity (income) loss from limited partnerships [2] (39) (60)
Cash received on the recapture of captive reinsurance 0 1,273
Changes in:    
Net broker-dealer and customer related receivables/payables 2 479
Reinsurance recoverable (59) 181
Segregated cash and securities, net 0 (473)
Capitalization of DAC [2] (310) (281)
Future policy benefits 91 (158)
Current and deferred income taxes 99 (478)
Other, net 26 216
Net cash provided by (used in) operating activities (283) 869
Proceeds from the sale/maturity/prepayment of:    
Fixed maturities, available-for-sale 4,842 4,810
Mortgage loans on real estate 288 153
Trading account securities 7,117 4,867
Real estate joint ventures 2 140
Short-term investments [2] 1,518 1,307
Other 95 120
Payment for the purchase/origination of:    
Fixed maturities, available-for-sale (12,385) (5,407)
Mortgage loans on real estate (757) (1,004)
Trading account securities (663) (5,075)
Short-term investments [2] (1,594) (876)
Other (108) (99)
Cash settlements related to derivative instruments (1,089) (756)
Issuance of loans to affiliates 0 (1,100)
Repayments of loans to affiliates 0 700
Investment in capitalized software, leasehold improvements and EDP equipment (31) (46)
Other, net (11) 390
Net cash provided by (used in) investing activities (2,776) (1,876)
Policyholders’ account balances:    
Deposits 4,609 4,120
Withdrawals (2,291) (2,131)
Transfers (to) from Separate Accounts 876 914
Change in short-term financings 0 (51)
Change in collateralized pledged assets (8) 0
Change in collateralized pledged liabilities 1,479 694
Increase (decrease) in overdrafts payable 0 (29)
Repurchase of AB Holding Units 0 (25)
Purchase (redemption) of noncontrolling interests of consolidated company-sponsored investment funds 10 (516)
Distribution to noncontrolling interests in consolidated subsidiaries 0 (334)
Repayment of loans from affiliates (572) 0
Increase (decrease) in securities sold under agreement to repurchase (573) (37)
Other, net 0 (27)
Net cash provided by (used in) financing activities 3,530 2,578
Effect of exchange rate changes on Cash and cash equivalents 0 (6)
Change in Cash and cash equivalents 471 1,565
Cash and cash equivalents, beginning of year 2,622  
Cash and cash equivalents, end of period 3,093 4,974
Cash and cash equivalents of disposed subsidiary:    
Beginning of year   1,009
End of period   670
Cash and cash equivalents of continuing operations:    
Beginning of year 2,622 3,409
End of period 3,093 4,974
Cash flows of disposed subsidiary:    
Operating activities   482
Investing activities   147
Financing activities   (962)
Effect of exchange rate changes on Cash and cash equivalents   (6)
Non-cash transactions during the period:    
(Settlement) issuance of long-term debt [1] (202)
Transfer of assets to reinsurer [1] (604)
Repayment of loans from affiliates   $ 300
[1] Net income (loss) includes $311 million in the six months ended June 30, 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 15 for further information.