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Consolidated Statements Of Cash Flows (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities    
Net income $ 4,342 $ 4,510
Adjustments to reconcile net income to net cash flows from operating activities    
Net realized (gains) losses (44) (3)
Market risk benefits (gains) losses 109 8
Amortization of premiums (discounts) on fixed maturities (196) (178)
Amortization of purchased intangibles 149 160
Equity in net income (loss) of partially-owned entities (739) (278)
Deferred income taxes (16) 131
Unpaid losses and loss expenses 1,224 2,338
Unearned premiums 2,446 2,214
Future policy benefits 1,178 954
Insurance and reinsurance balances payable 1,018 838
Accounts payable, accrued expenses, and other liabilities 10 (410)
Income taxes (74) (144)
Insurance and reinsurance balances receivable (2,088) (2,666)
Reinsurance recoverable 494 511
Deferred policy acquisition costs (870) (796)
Net sales (purchases) of investments by consolidated investment products (115) 109
Other (1,711) 1
Net cash flows from operating activities 5,117 7,299
Cash flows from investing activities    
Purchases of fixed maturities available-for-sale (13,805) (15,131)
Purchases of equity securities (1,413) (1,778)
Sales of fixed maturities available-for-sale 5,292 6,292
Sales of equity securities 1,410 1,413
Maturities and redemptions of fixed maturities available-for-sale 5,542 4,705
Net change in short-term investments 764 (190)
Net derivative instruments settlements (66) (31)
Private equity contributions (1,522) (500)
Private equity distributions 744 538
Acquisition of subsidiaries (net of cash acquired of $32 and nil) (289) (538)
Cash And Cash Equivalents Increase (Decrease) Due To Consolidation And Deconsolidation Of Investment Products 14 0
Other (296) (846)
Net cash flows used for investing activities (3,625) (6,066)
Cash flows from financing activities    
Proceeds from issuance of long-term debt 249 996
Dividends paid on Common Shares (731) (698)
Common Shares repurchased (1,437) (1,056)
Repayment of long-term debt (800) (700)
Proceeds from share-based compensation plans 189 242
Policyholder contract deposits 452 562
Policyholder contract withdrawals (311) (374)
Third-party capital invested into consolidated investment products 1,076 840
Third-party capital distributed by consolidated investment products (677) (1,047)
Proceeds from issuance of repurchase agreements (2,368) (2,662)
Repayment of repurchase agreements (2,072) (2,418)
Other (193) (193)
Net cash flows used for financing activities (1,887) (1,184)
Effect of foreign currency rate changes on cash and restricted cash 217 (102)
Net decrease in cash and restricted cash (178) (53)
Cash and restricted cash - beginning of period 2,549 2,621
Cash and restricted cash - end of period 2,371 2,568
Supplemental cash flow information    
Taxes paid 1,116 845
Interest paid $ 350 $ 316