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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net loss $ (512) $ (777)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Net loss from securities transactions 322 310
Purchases of securities (1,362) (446)
Proceeds from sales of securities 926 2,084
Payments to cover securities sold, not yet purchased (653) (3,618)
Proceeds from securities sold, not yet purchased 124 444
Changes in receivables and payables relating to securities transactions 1,597 2,774
Changes in derivative assets and liabilities (20) 681
Loss (gain) on disposition of assets, net 5 (3)
Depreciation and amortization 256 251
Loss on deconsolidation of subsidiary   246
Deferred taxes (35) (88)
Other, net 11 8
Changes in other operating assets and liabilities (17) 128
Net cash provided by operating activities 642 1,994
Cash flows from investing activities:    
Capital expenditures (134) (131)
Turnaround expenditures (44) (50)
Acquisition of businesses, net of cash acquired (2)  
Proceeds from disposition of businesses and assets 4  
Return of equity method investment 4 20
Other, net 5 (12)
Net cash used in investing activities (167) (173)
Cash flows from financing activities:    
Investment segment contributions from non-controlling interests 1  
Investment segment distributions to non-controlling interests (5) (1,462)
Partnership contributions 100 185
Partnership distributions (207) (155)
Purchase of additional interests in consolidated subsidiaries (1)  
Dividends and distributions to non-controlling interests in subsidiaries (58) (170)
Proceeds from Holding Company senior unsecured notes 766  
Repayments of Holding Company senior unsecured notes (750)  
Proceeds from subsidiary borrowings 17 32
Repayments of subsidiary borrowings (612) (48)
Other, net (9) (3)
Net cash used in financing activities (758) (1,621)
Effect of exchange rate changes on cash and cash equivalents and restricted cash and restricted cash equivalents (3)  
Net (decrease) increase in cash and cash equivalents and restricted cash and restricted cash equivalents (286) 200
Cash and cash equivalents and restricted cash and restricted cash equivalents, beginning of period 5,946 4,886
Cash and cash equivalents and restricted cash and restricted cash equivalents, end of period $ 5,660 $ 5,086