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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Statement of Cash Flows [Abstract]    
Net cash provided by (used in) operating activities $ 143 $ (595)
Cash flows from investing activities    
Sales, maturities and repayments of fixed maturity securities 3,037 2,241
Sales, maturities and repayments of trading securities 6 0
Sales, maturities and repayments of equity securities 4 24
Sales, maturities and repayments of mortgage loans 447 281
Sales, maturities and repayments of limited partnerships and limited liability companies 87 78
Purchases of fixed maturity securities (2,756) (2,426)
Purchases of trading securities (18) 0
Purchases of equity securities (1) (1)
Purchases of mortgage loans (362) (446)
Purchases of limited partnerships and limited liability companies (65) (79)
Cash received in connection with freestanding derivatives 3,343 3,561
Cash paid in connection with freestanding derivatives (4,109) (3,174)
Net change in policy loans 588 (318)
Net change in short-term investments 275 (85)
Net change in other invested assets 1 (201)
Net cash provided by (used in) investing activities 477 (545)
Cash flows from financing activities    
Policyholder account balances: Deposits 5,018 7,696
Policyholder account balances: Withdrawals (5,940) (6,426)
Net change in payables for collateral under securities loaned and other transactions 19 (18)
Capital contribution 100 0
Financing element on certain derivative instruments and other derivative related transactions, net (166) (130)
Net cash provided by (used in) financing activities (969) 1,122
Change in cash, cash equivalents and restricted cash (349) (18)
Cash, cash equivalents and restricted cash, beginning of period 4,592 3,165
Cash, cash equivalents and restricted cash, end of period 4,243 3,147
Supplemental disclosures of cash flow information    
Net cash paid (received) for interest 34 34
Net cash paid (received) for income tax $ 0 $ 1