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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Statement of Cash Flows [Abstract]    
Net income (loss) $ 414 $ (1,608)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Interest credited to policyholders’ account balances 292 270
Policy charges and fee income (767) (880)
Net derivative (gains) losses (745) 2,778
Credit losses on AFS debt securities and loans (10) (1)
Investment (gains) losses, net 332 (182)
Realized and unrealized (gains) losses on trading securities 16 27
Non-cash long-term incentive compensation expense 13 15
Amortization and depreciation 123 68
Equity (income) loss from limited partnerships (93) (107)
Changes in:    
Reinsurance recoverable (353) (130)
Capitalization of deferred policy acquisition costs (182) (157)
Future policy benefits 177 19
Current and deferred income taxes 64 (590)
Other, net (216) 281
Net cash provided by (used in) operating activities (935) (197)
Proceeds from the sale/maturity/prepayment of:    
Fixed maturities, available-for-sale 8,478 9,151
Mortgage loans on real estate 280 245
Trading account securities 36 709
Real estate joint ventures 0 0
Short-term investments 0 18
Other 89 775
Payment for the purchase/origination of:    
Fixed maturities, available-for-sale (8,109) (9,939)
Mortgage loans on real estate (688) (353)
Trading account securities (55) (61)
Short-term investments 0 (5)
Other (181) (1,225)
Cash settlements related to derivative instruments, net 302 (2,980)
Issuance of loans to affiliates 0 0
Repayments of loans to affiliates 0 0
Investment in capitalized software, leasehold improvements and EDP equipment 7 (8)
Other, net 55 198
Net cash provided by (used in) investing activities 214 (3,475)
Cash flows from financing activities:    
Deposits 3,041 7,101
Withdrawals (2,232) (1,478)
Transfer (to) from Separate Accounts 500 526
Change in collateralized pledged assets (39) (1,393)
Change in collateralized pledged liabilities 548 93
Purchase (redemption) of noncontrolling interests of consolidated company-sponsored investment funds 2 7
Repayment of loans from affiliates 0 0
Other, net (25) (10)
Net cash provided by (used in) financing activities 1,795 4,846
Change in cash and cash equivalents 1,074 1,174
Cash and cash equivalents, beginning of year 1,815 2,043
Cash and cash equivalents, end of year 2,889 3,217
Non-cash transactions from investing and financing activities:    
Right-of-use assets obtained in exchange for lease obligations $ 0 $ 0