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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash Flows from Operating Activities:    
Net income $ 283 $ 635
Change in operating assets and liabilities:    
Accrued investment income (57) (40)
Premiums receivable and other reinsurance balances 138 182
Deferred policy acquisition costs (54) (130)
Reinsurance ceded receivable balances (45) (124)
Future policy benefits, other policy claims and benefits, and other reinsurance balances 2,290 1,174
Deferred income taxes (25) 201
Other assets and other liabilities, net 72 (253)
Amortization of net investment premiums, discounts and other (33) (44)
Depreciation, Depletion and Amortization 33 33
Investment related losses (gains), net 138 (69)
Other, net 39 199
Net cash provided by operating activities 2,779 1,764
Cash Flows from Investing Activities:    
Sales of fixed maturity securities available-for-sale 5,088 10,545
Maturities of fixed maturity securities available-for-sale 670 614
Proceeds from Sale of Available-for-sale Securities, Equity 181 36
Payments to Acquire Debt Securities, Available-for-sale 7,532 11,377
Payments to Acquire Available-for-sale Securities, Equity (22) (78)
Payments to Acquire Mortgage Notes Receivable (631) (987)
Proceeds from Sale and Collection of Mortgage Notes Receivable 378 309
Proceeds from Collection of Policy Loans 66 74
Payments for (Proceeds from) Policy Loans 6 5
Increase (Decrease) in Funds Held under Reinsurance Agreements 71 52
Payments to Acquire Businesses, Net of Cash Acquired 0 (4)
Payments to Acquire Property, Plant, and Equipment (17) (24)
Change in short-term investments (85) 154
Change in other invested assets (233) (194)
Net cash used in investing activities (2,214) (981)
Cash Flows from Financing Activities:    
Dividends to stockholders (134) (119)
Proceeds from Issuance of Common Stock 481 0
Proceeds from (Repayments of) Secured Debt (188) (77)
Payments of Debt Issuance Costs (5) (5)
Proceeds from Issuance of Long-term Debt 598 599
Repayments of Long-term Debt (2) (2)
Purchases of treasury stock (162) (98)
Exercise of stock options, net 1 4
Change in cash collateral for derivative positions and other arrangements 28 (67)
Deposits on universal life and other investment type policies and contracts 1,259 319
Withdrawals on universal life and other investment type policies and contracts (642) (573)
Net cash provided by (used in) financing activities 1,234 (19)
Effect of exchange rate changes on cash 8 (18)
Change in cash and cash equivalents 1,807 746
Cash and cash equivalents, beginning of period 1,449 1,890
Cash and cash equivalents, end of period 3,256 2,636
Supplemental disclosures of cash flow information:    
Interest Paid, Excluding Capitalized Interest, Operating Activities 117 124
Income Taxes Paid, Net 58 14
Transfer to Investments 0 6,198
Capital Expenditures Incurred but Not yet Paid 0 1
Purchase of a business    
Noncash or Part Noncash Acquisition, Value of Assets Acquired 0 8
Noncash or Part Noncash Acquisition, Value of Liabilities Assumed 0 (12)
Noncash or Part Noncash Acquisition, Net Nonmonetary Assets Acquired (Liabilities Assumed) $ 0 $ (4)