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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating Activities      
Net income $ 2,504 $ 1,819 $ 2,371
Adjustments to reconcile net income to net cash provided by operating activities      
Net realized losses (gains) 188 627 (530)
Additional Cash Flow Elements, Operating Activities      
Amortization of deferred policy acquisition costs 2,044 1,824 1,668
Additions to deferred policy acquisition costs (2,159) (1,939) (1,739)
Depreciation and amortization 510 625 680
Loss on extinguishment of debt 0 (9) 0
Loss on sale of business 0 0 21
Other operating activities, net 213 109 (125)
Increase in reinsurance recoverables (155) (470) (583)
Net change in accrued and deferred income taxes (29) (80) 85
Increase in insurance liabilities 1,819 2,192 2,411
Increase (Decrease) in Premiums Receivable (708) (562) (190)
Net change in other assets and other liabilities (7) (146) 24
Cash provided by operating activities 4,220 4,008 4,093
Proceeds from the sale/maturity/prepayment of:      
Fixed maturities, AFS 6,806 14,996 22,457
Proceeds From Sale and Maturity of Fair Value Option, Fixed Maturity Securties 2 2 0
Proceeds from Sale and Maturity of Marketable Securities 2,173 1,213 626
Mortgage loans 1,036 973 1,506
Limited partnerships and other alternative investments 295 349 537
Payments for the purchase of:      
Fixed maturities, AFS (9,105) (14,255) (21,754)
Payments for the purchase of Fair Value Option Fixed Maturity Securties 0 (216) (160)
Equity securities at fair value (1,183) (1,371) (1,420)
Mortgage loans (1,055) (1,596) (2,386)
Limited partnerships and other alternative investments (966) (1,095) (1,317)
Net proceeds from (payments for) derivatives (129) 54 (7)
Net additions to property and equipment (215) (175) (133)
Net payments for short-term investments (69) (160) (417)
Other investing activities, net (21) 4 (9)
Proceeds from businesses sold, net of cash transferred 0 0 11
Net cash used for investing activities (2,431) (1,277) (2,466)
Financing Activities      
Deposits and other additions to investment and universal life-type contracts 96 88 89
Withdrawals and other deductions from investment and universal life-type contracts (100) (102) (75)
Repayment of debt 0 (600) 0
Proceeds from the issuance of debt 0 0 588
Net issuance (return of) shares under incentive and stock compensation plans 6 (19) 25
Treasury stock acquired (1,400) (1,550) (1,702)
Payments for Repurchase of Preferred Stock and Preference Stock (21) (21) (21)
Dividends paid on common stock (528) (506) (485)
Net cash used for financing activities (1,947) (2,710) (1,581)
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations 3 (14) (6)
Net increase (decrease) in cash and restricted cash, including cash classified within assets held for sale (155) 7 40
Less: Net decrease in cash classified as assets held for sale 0 0 (58)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect, Total (155) 7 98
Cash and restricted cash — beginning of period 344 337 239
Cash and restricted cash — end of period 189 344 337
Supplemental Disclosure of Cash Flow Information      
Income tax paid 622 548 496
Interest paid $ 209 $ 212 $ 214