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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Statement of Cash Flows [Abstract]    
Net income (loss) $ 720 $ (845)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Interest credited to policyholders’ account balances 845 859
Policy charges and fee income (2,582) (2,619)
Net derivative (gains) losses (2,097) 2,080
Credit losses on AFS debt securities and loans 47 0
Investment (gains) losses, net (262) (181)
Realized and unrealized (gains) losses on trading securities (98) (421)
Non-cash long-term incentive compensation expense 21 23
Amortization and depreciation 1,230 271
Equity (income) loss from limited partnerships 13 (63)
Changes in:    
Reinsurance recoverable (202) (127)
Capitalization of deferred policy acquisition costs (414) (466)
Future policy benefits 1,811 1,075
Current and deferred income taxes 502 (86)
Other, net (171) (212)
Net cash provided by (used in) operating activities (637) (712)
Proceeds from the sale/maturity/prepayment of:    
Fixed maturities, available-for-sale 10,002 9,394
Mortgage loans on real estate 454 708
Trading account securities 1,320 8,216
Real estate joint ventures 0 3
Short-term investments 1,431 1,916
Other 519 145
Payment for the purchase/origination of:    
Fixed maturities, available-for-sale (16,620) (23,834)
Mortgage loans on real estate (1,208) (913)
Trading account securities (403) (923)
Short-term investments (1,098) (2,134)
Other (678) (305)
Cash settlements related to derivative instruments, net 2,560 191
Investment in capitalized software, leasehold improvements and EDP equipment (31) (49)
Other, net (397) 0
Net cash provided by (used in) investing activities (4,149) (7,585)
Cash flows from financing activities:    
Deposits 7,542 9,464
Withdrawals (3,144) (3,433)
Transfer (to) from Separate Accounts 1,966 1,427
Change in collateralized pledged assets 58 3
Change in collateralized pledged liabilities 1,981 1,898
Shareholder dividend paid (1,200) (1,000)
Purchase (redemption) of noncontrolling interests of consolidated company-sponsored investment funds 4 14
Repayment of loans from affiliates 0 (572)
Increase (decrease) in securities sold under agreement to repurchase 0 (573)
Other, net 49 0
Net cash provided by (used in) financing activities 7,256 7,228
Change in cash and cash equivalents 2,470 (1,069)
Cash and cash equivalents, beginning of year 1,492 2,622
Cash and cash equivalents, end of year 3,962 1,553
Non-cash transactions:    
Right-of-use assets obtained in exchange for lease obligations $ 20 $ 42