XML 50 R6.htm IDEA: XBRL DOCUMENT v3.22.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating Activities    
Net income $ 445 $ 249
Adjustments to reconcile net income (loss) to net cash provided by operating activities    
Net realized losses (gains) 145 (80)
Amortization of deferred policy acquisition costs 440 416
Increase (Decrease) in Deferred Policy Acquisition Costs 495 449
Depreciation and amortization 168 174
Other operating activities, net 15 15
Additional Cash Flow Elements, Operating Activities    
Increase (Decrease) in Reinsurance Recoverable 105 66
Increase (Decrease) in Deferred Income Taxes (41) (70)
Increase in insurance liabilities 449 996
Increase (Decrease) in Other Operating Assets and Liabilities, Net 674 566
Net cash provided by operating activities 429 759
Proceeds from the sale/maturity/prepayment of:    
Fixed maturities, available-for-sale 6,578 5,536
Fixed maturities, fair value option 0 0
Equity securities, at fair value 257 157
Mortgage loans 438 307
Partnerships 73 56
Payments for the purchase of:    
Fixed maturities, available-for-sale (5,514) (5,049)
Payments for the purchase of Fair Value Option Fixed Maturity Securties (126) 0
Equity securities, at fair value (297) (756)
Mortgage loans (756) (400)
Partnerships (317) (245)
Payments for (Proceeds from) Derivative Instrument, Investing Activities (26) (27)
Net additions of property and equipment (31) (23)
Net payments for short-term investments (207) (54)
Other investing activities, net 2 (6)
Net cash provided by (used for) investing activities 126 (450)
Financing Activities    
Deposits and other additions to investment and universal life-type contracts 25 22
Withdrawals and other deductions from investment and universal life-type contracts (33) (44)
Excess Tax Benefit from Share-based Compensation, Financing Activities (43) 0
Treasury stock acquired (400) (123)
Dividends paid on preferred stock (5) (5)
Dividends paid on common stock (130) (116)
Net cash used for financing activities (586) (266)
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations 0 (3)
Cash and Cash Equivalents, Including Cash Held-for-sale, Period Increase (Decrease) (31) 40
Cash and Cash Equivalents, Held-for-sale, Period Increase (Decrease) 0 (1)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect, Total (31) 41
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents 337 239
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents 306 280
Supplemental Disclosure of Cash Flow Information    
Income tax paid (received) 1 (32)
Interest paid $ 67 $ 58