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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities      
Net Income (Loss) Attributable to Parent $ 617 $ 415 $ 870
Change in operating assets and liabilities:      
Accrued investment income (15) (11) (4)
Premiums receivable and other reinsurance balances (100) 162 110
Deferred policy acquisition costs (71) (95) (198)
Reinsurance ceded receivable balances (107) (115) (178)
Future policy benefits, other policy claims and benefits and other reinsurance balances 5,062 2,819 1,537
Deferred income taxes (89) (16) 211
Other assets and other liabilities, net (97) 225 113
Amortization of net investment premiums, discounts and other (54) (46) (55)
Depreciation, Depletion and Amortization 43 49 49
Investment related (gains) losses, net (560) 33 (91)
Gain (Loss) on Disposition of Business (11) 0 0
Other, net (436) (98) (57)
Net cash provided by operating activities 4,182 3,322 2,307
Cash flows from investing activities      
Sales of fixed maturity securities available-for-sale 12,142 6,514 13,214
Principal payments on mortgage loans on real estate 887 973 907
Proceeds from Sale of Available-for-sale Securities, Equity 30 181 98
Proceeds from Sale and Collection of Mortgage Notes Receivable 991 661 490
Proceeds from Collection of Policy Loans 57 102 82
Payments to Acquire Available-for-sale Securities (18,071) (9,619) (15,664)
Payments to Acquire Available-for-sale Securities, Equity (22) (22) (312)
Purchases of fixed maturity securities available-for-sale (1,155) (780) (1,216)
Payments to Fund Policy Loans (32) (41) (42)
Cash invested in funds withheld at interest (67) (131) (60)
Purchase of businesses, net of cash acquired of $53 and $27 (156) 0 4
Proceeds from Divestiture of Businesses, Net of Cash Divested 19 0 0
Payments to Acquire Property, Plant, and Equipment (19) (28) (34)
Change in short-term investments 371 (155) 199
Change in other invested assets 397 (335) (304)
Net cash used in investing activities (4,628) (2,680) (2,638)
Cash flows from financing activities      
Dividends to stockholders (194) (182) (163)
Proceeds from Issuance of Common Stock 0 481 0
Repayment of collateral finance and securitization notes (208) (214) (91)
Proceeds from long-term debt issuance 500 598 599
Debt issuance costs (6) (5) (5)
Principal payments of long-term debt (403) (3) (403)
Purchases of treasury stock (99) (163) (101)
Exercise of stock options, net 0 1 6
Change in cash collateral for derivative positions and other arrangements 31 (32) (163)
Decrease Increase In Reinsurance Deposits Financing Activities 91 0 0
Deposits on investment-type policies and contracts 1,729 1,576 1,309
Withdrawals on investment-type policies and contracts (1,421) (803) (1,109)
Net cash provided by (used in) financing activities 20 1,254 (121)
Effect of exchange rate changes on cash (34) 63 11
Change in cash and cash equivalents (460) 1,959 (441)
Cash and cash equivalents, beginning of period 3,408 1,449 1,890
Cash and cash equivalents, end of period 2,948 3,408 1,449
Supplemental disclosures of cash flow information:      
Interest paid 160 166 180
Income taxes paid (received), net of refunds 368 108 44
Non-cash investing activities:      
Transfer of invested assets 1,798 93 6,275
Right-of-use assets acquired through operating leases 0 23 1
Non-cash deposits on reinsurance 1,581 0 0
Assets acquired, excluding cash acquired 847 0 8
Liabilities assumed (691) 0 (12)
Assets disposed, net of cash transferred (512) 0 0
Liabilities disposed $ 504 $ 0 $ 0