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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Statement of Cash Flows [Abstract]    
Net income (loss) $ 2,084 $ (1,383)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Interest credited to policyholders’ account balances 930 841
Policy charges and fee income (2,229) (2,581)
Net derivative (gains) losses (2,921) 4,152
Credit and intent to sell losses on available for sale debt securities and loans 272 (4)
Investment (gains) losses, net 640 (753)
Realized and unrealized (gains) losses on trading securities 53 49
Non-cash long-term incentive compensation expense 44 (23)
Amortization and depreciation 362 242
Equity (income) loss from limited partnerships (184) (371)
Changes in:    
Reinsurance recoverable [1] (826) (824)
Capitalization of deferred policy acquisition costs (550) (519)
Future policy benefits 111 33
Current and deferred income taxes 496 (507)
Other, net (97) 229
Net cash provided by (used in) operating activities (1,815) (1,419)
Proceeds from the sale/maturity/prepayment of:    
Fixed maturities, available-for-sale 14,017 25,629
Mortgage loans on real estate 901 1,417
Trading account securities 177 5,010
Short-term investments (14) 84
Other 270 1,509
Payment for the purchase/origination of:    
Fixed maturities, available-for-sale (16,313) (32,790)
Mortgage loans on real estate (2,604) (1,680)
Trading account securities (166) (142)
Short-term investments 0 (5)
Other (603) (2,377)
Cash settlements related to derivative instruments, net 921 (6,522)
Issuance of loans to affiliates 0 (1,000)
Repayments of loans to affiliates 0 0
Investment in capitalized software, leasehold improvements and EDP equipment (24) (41)
Other, net 123 (15)
Net cash provided by (used in) investing activities (3,315) (10,923)
Cash flows from financing activities:    
Deposits 11,299 12,336
Withdrawals (4,930) (4,647)
Transfers (to) from Separate Accounts 1,109 1,569
Change in collateralized pledged assets 38 55
Change in collateralized pledged liabilities (2,467) 1,492
Capital contribution from parent company 0 750
Shareholder dividend paid (930) (7)
Purchase (redemption) of noncontrolling interests of consolidated company-sponsored investment funds (1) 10
Other, net 29 48
Net cash provided by (used in) financing activities 4,147 11,606
Change in cash and cash equivalents (983) (736)
Cash and cash equivalents, beginning of year 1,816 2,043
Cash and cash equivalents, end of year 833 1,307
Non-cash transactions from investing and financing activities:    
Right-of-use assets obtained in exchange for lease obligations 4 3
Dividend to Parent (22) 0
Transfer of assets to reinsurer $ 0 $ (9,023)
[1] Amount includes cash paid for Venerable Transaction of $494 million. See Note 1 of the Notes to these Consolidated Financial Statements.