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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash Flows from Operating Activities:    
Net income $ 70 $ 372
Change in operating assets and liabilities:    
Accrued investment income (9) (12)
Premiums receivable and other reinsurance balances 24 85
Deferred policy acquisition costs (107) (115)
Reinsurance ceded receivable balances (32) (109)
Future policy benefits, other policy claims and benefits, and other reinsurance balances 2,360 736
Deferred income taxes (88) 92
Other assets and other liabilities, net 38 (122)
Amortization of net investment premiums, discounts and other (24) (34)
Depreciation, Depletion and Amortization 23 22
Investment related (gains) losses, net 204 (20)
Other, net 120 75
Net cash provided by operating activities 2,579 970
Cash Flows from Investing Activities:    
Sales of fixed maturity securities available-for-sale 3,835 5,097
Maturities of fixed maturity securities available-for-sale 406 439
Proceeds from Sale of Available-for-sale Securities, Equity 180 0
Payments to Acquire Debt Securities, Available-for-sale 4,875 5,689
Payments to Acquire Available-for-sale Securities, Equity (21) (57)
Payments to Acquire Mortgage Notes Receivable (604) (598)
Proceeds from Sale and Collection of Mortgage Notes Receivable 283 166
Proceeds from Collection of Policy Loans 15 44
Payments for (Proceeds from) Policy Loans 6 5
Increase (Decrease) in Funds Held under Reinsurance Agreements 49 54
Payments to Acquire Businesses, Net of Cash Acquired 0 4
Payments to Acquire Property, Plant, and Equipment (11) (18)
Change in short-term investments (19) 67
Change in other invested assets (158) (160)
Net cash used in investing activities (1,024) (764)
Cash Flows from Financing Activities:    
Dividends to stockholders (87) (75)
Proceeds from Issuance of Common Stock 481 0
Proceeds from (Repayments of) Secured Debt (160) (53)
Payments of Debt Issuance Costs (5) (5)
Proceeds from Issuance of Long-term Debt 598 599
Repayments of Long-term Debt (1) (1)
Purchases of treasury stock (162) (68)
Exercise of stock options, net 1 2
Change in cash collateral for derivative positions and other arrangements 93 (80)
Deposits on universal life and other investment type policies and contracts 1,004 256
Withdrawals on universal life and other investment type policies and contracts (429) (390)
Net cash provided by financing activities 1,333 185
Effect of exchange rate changes on cash (24) 7
Change in cash and cash equivalents 2,864 398
Cash and cash equivalents, beginning of period 1,449 1,890
Cash and cash equivalents, end of period 4,313 2,288
Supplemental disclosures of cash flow information:    
Interest Paid, Excluding Capitalized Interest, Operating Activities 80 86
Income Taxes Paid, Net (12) 23
Transfer to Investments 0 3,421
Capital Expenditures Incurred but Not yet Paid 0 1
Noncash or Part Noncash Acquisition, Value of Assets Acquired 0 8
Noncash or Part Noncash Acquisition, Value of Liabilities Assumed $ 0 $ (12)