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Consolidated Statements Of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Adjustments to reconcile net income to net cash flows from operating activities      
Net Realized Gains Losses $ (117) $ 607 $ 1,085
Accretion (Amortization) of Discounts and Premiums, Investments (367) (148) 189
Amortization of purchased intangibles 323 310 285
Deferred income taxes 96 (1,124) 318
Equity in net income of subsidiaries and affiliates (967) (867) (1)
Unpaid losses and loss expenses 4,567 3,470 4,259
Unearned premiums 1,805 1,377 1,435
Future policy benefits 1,841 848 333
Insurance and reinsurance balances payable (105) (155) 446
Accounts payable, accrued expenses, and other liabilities 342 (735) (68)
Income taxes 69 128 (149)
Insurance and reinsurance balances receivable (1,278) (1,072) (696)
Reinsurance recoverable (30) (498) (1,737)
Deferred policy acquisition costs (1,429) (1,100) (396)
Net sales of investments by consolidated investment products 278 450 0
Other 1,374 1,819 789
Net Cash Provided by (Used) in Operating Activities, Total 16,182 12,632 11,258
Cash flows from investing activities      
Purchases of fixed maturities available-for-sale (33,759) (28,672) (27,844)
Purchases of fixed maturities held-to-maturity 0 (208) (618)
Purchases of equity securities (4,333) (1,395) (895)
Sales of fixed maturities available-for-sale 12,815 14,593 16,855
Sales of equity securities 2,996 1,084 4,615
Maturities and redemptions of fixed maturities available-for-sale 10,810 7,026 9,415
Maturities and redemptions of fixed maturities held-to-maturity 0 708 1,712
Net change in short-term investments (763) 1,169 (1,452)
Net derivative instruments settlements (93) (153) (84)
Private equity contributions (1,070) (2,024) (2,649)
Private equity distributions 1,397 1,164 1,017
Acquisition of subsidiaries (net of cash acquired of nil, $560, and $366) (538) (34) (5,166)
Cash And Cash Equivalents Increase (Decrease) Due To Consolidation And Deconsolidation Of Investment Products 27 (17) 0
Other (1,412) (889) (560)
Net Cash Provided by (Used in) Investing Activities (13,923) (7,648) (5,654)
Cash flows from financing activities      
Dividends paid on Common Shares (1,436) (1,394) (1,375)
Common Shares repurchased (1,801) (2,411) (2,894)
Proceeds from issuance of long-term debt 2,408 0 0
Proceeds from issuance of repurchase agreements 4,505 4,984 4,510
Repayments of Long-term Debt (1,437) (475) (1,000)
Repayment of repurchase agreements (4,822) (4,728) (4,508)
Proceeds from share-based compensation plans 356 212 264
Policyholder contract deposits 1,024 645 488
Policyholder contract withdrawals (709) (458) (521)
Third-party capital invested into consolidated investment products 1,614 126 0
Third-party capital distributed by consolidated investment products (1,621) (745) 0
Tax withholding payments for share-based compensation plans (262) (245) (106)
Net cash flows (used for) from financing activities (2,181) (4,489) (5,142)
Effect of foreign currency rate changes on cash and restricted cash (150) (1) (146)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect (72) 494 316
Cash and restricted cash - beginning of year 2,621 2,127 1,811
Cash and restricted cash - end of year 2,549 2,621 2,127
Supplemental cash flow information      
Taxes paid 1,662 1,465 1,242
Interest paid 599 553 552
Market Risk Benefit, Change in Fair Value, Gain (Loss) 140 307 (80)
Net income $ 9,640 $ 9,015 $ 5,246