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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Operating Activities    
Net income $ 273 $ 630
Adjustments to reconcile net income (loss) to net cash provided by operating activities    
Net realized capital losses (gains) 231 (163)
Amortization of deferred policy acquisition costs 437 355
Additions to deferred policy acquisition costs (447) (373)
Depreciation and amortization 134 108
Other operating activities, net 79 37
Change in assets and liabilities:    
Decrease (increase) in reinsurance recoverables (75) 16
Net change in accrued and deferred income taxes 53 116
Increase in insurance liabilities 235 138
Net change in other assets and other liabilities (622) (585)
Net cash provided by operating activities 298 279
Proceeds from the sale/maturity/prepayment of:    
Fixed maturities, available-for-sale 3,906 5,072
Fixed maturities, fair value option 3 2
Equity securities, at fair value 645 619
Mortgage loans 329 100
Partnerships 34 68
Payments for the purchase of:    
Fixed maturities, available-for-sale (3,578) (5,105)
Equity securities, at fair value (518) (607)
Mortgage loans (487) (31)
Partnerships (97) (78)
Net proceeds from derivatives 161 26
Net additions of property and equipment (23) (20)
Net proceeds from short-term investments 407 82
Other investing activities, net (5) 1
Net cash provided by investing activities 777 129
Financing Activities    
Deposits and other additions to investment and universal life-type contracts 15  
Withdrawals and other deductions from investment and universal life-type contracts (10) (24)
Federal Home Loan Bank of Boston (FHLBB) advances 0 50
Net increase (decrease) in securities loaned or sold under agreements to repurchase (237) 102
Repayment of debt (500) (413)
Net return of shares under incentive and stock compensation plans (32) (28)
Treasury stock acquired (150) 0
Dividends paid on preferred stock (5) (6)
Dividends paid on common stock (108) (109)
Net cash used for financing activities (1,027) (428)
Foreign exchange rate effect on cash (9) 3
Net increase (decrease) in cash and restricted cash 39 (17)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents 262 121
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents 301 104
Supplemental Disclosure of Cash Flow Information    
Income tax paid 1 0
Interest paid $ 74 $ 41