XML 21 R9.htm IDEA: XBRL DOCUMENT v3.22.0.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash Flows from Operating Activities:      
Net income (loss) $ 826,000,000 $ 166,000,000 $ 300,000,000
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Capitalization of deferred policy acquisition costs, value of business acquired and sales inducements (60,000,000) (59,000,000) (49,000,000)
Net amortization of deferred policy acquisition costs, value of business acquired and sales inducements 99,000,000 194,000,000 65,000,000
Net accretion/amortization of discount/premium (21,000,000) (7,000,000) 5,000,000
Future policy benefits, claims reserves and interest credited 705,000,000 757,000,000 568,000,000
Deferred income tax (benefit) expense 208,000,000 (20,000,000) 23,000,000
Net (gains) losses (166,000,000) 310,000,000 144,000,000
Depreciation and amortization 8,000,000 10,000,000 21,000,000
(Gains) losses on limited partnerships/corporations 147,000,000 23,000,000 35,000,000
Change in:      
Accrued investment income 19,000,000 (11,000,000) 9,000,000
Premiums receivable and reinsurance recoverable (83,000,000) 85,000,000 105,000,000
Other receivables and asset accruals (5,000,000) 21,000,000 55,000,000
Due to/from affiliates 33,000,000 (21,000,000) 2,000,000
Other payables and accruals 61,000,000 (84,000,000) 158,000,000
Other, net (13,000,000) (12,000,000) (8,000,000)
Net cash provided by operating activities 1,464,000,000 1,306,000,000 1,363,000,000
Proceeds from the sale, maturity, disposal or redemption of:      
Fixed maturities 4,832,000,000 3,487,000,000 3,956,000,000
Fixed maturities, trading 33,000,000 0 0
Equity securities 158,000,000 145,000,000 3,000,000
Mortgage loans on real estate 606,000,000 403,000,000 803,000,000
Limited partnerships/corporations 318,000,000 104,000,000 70,000,000
Acquisition of:      
Fixed maturities (5,743,000,000) (4,988,000,000) (4,582,000,000)
Fixed maturities, trading (33,000,000) 0 0
Equity securities 178,000,000 178,000,000 12,000,000
Mortgage loans on real estate (690,000,000) (433,000,000) (555,000,000)
Limited partnerships/corporations (238,000,000) (158,000,000) (190,000,000)
Derivatives, net (54,000,000) 46,000,000 23,000,000
Policy loans, net 16,000,000 18,000,000 5,000,000
Short-term investments, net 15,000,000 (15,000,000) 50,000,000
Short-term loan to affiliate, net 523,000,000 (584,000,000) (69,000,000)
Collateral received (delivered), net 44,000,000 11,000,000 (86,000,000)
Receipts on deposit asset contracts 70,000,000 0 0
Other, net (110,000,000) (5,000,000) (3,000,000)
Net cash used in investing activities (431,000,000) (2,147,000,000) (587,000,000)
Cash Flows from Financing Activities:      
Deposits received for investment contracts 4,281,000,000 5,197,000,000 3,395,000,000
Maturities and withdrawals from investment contracts (4,718,000,000) (4,220,000,000) (3,686,000,000)
Settlements on deposit liability contracts 0 (1,000,000) (5,000,000)
Proceeds from loans with affiliates, net 12,000,000 7,000,000 0
Dividends paid and distributions of capital (552,000,000) (294,000,000) (396,000,000)
Capital contribution from parent 20,000,000 0 57,000,000
Net cash (used in) provided by financing activities (957,000,000) 689,000,000 (635,000,000)
Net increase (decrease) in cash and cash equivalents 76,000,000 (152,000,000) 141,000,000
Cash and cash equivalents, beginning of year 360,000,000 512,000,000 371,000,000
Cash and cash equivalents, end of year 436,000,000 360,000,000 512,000,000
Supplemental cash flow information:      
Income taxes paid (received), net (92,000,000) $ 2,000,000 $ (13,000,000)
Noncash capital contribution from parent $ 298,000,000