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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Change in operating assets and liabilities:      
Accrued investment income $ (132) $ (99) $ (111)
Premiums receivable and other reinsurance balances (397) (537) (249)
Deferred policy acquisition costs (322) (490) (311)
Reinsurance ceded receivable balances 231 (209) 61
Future policy benefits, other policy claims and benefits and other reinsurance balances 8,811 4,142 793
Deferred income taxes (61) 211 67
Increase Decrease In Funds Withheld Net Of Reinsurance Recoverable And Deposit Receivable (123)   (63)
Decrease In Funds Withheld Net Of Reinsurance Recoverable And Deposit Receivable   49  
Other assets and other liabilities, net 257 68 255
Amortization of net investment premiums, discounts and other (214) (127) (71)
(Income) loss from limited partnerships and real estate joint ventures (96) (181) (331)
Investment related (gains) losses, net 745 481 539
Increase (Decrease) in Future Policy Benefit Reserves (32) (62) 291
Market Risk Benefit, Increase (Decrease) from Equity Market Change (44) (10) 10
Depreciation and amortization expense 46 41 38
Gain on sale of businesses 0 0 2
Other, net (16) (135) (90)
Net cash provided by operating activities 9,370 4,044 1,343
Cash flows from investing activities      
Sales of fixed maturity securities available-for-sale 28,153 8,195 10,558
Principal payments on mortgage loans 1,219 967 906
Proceeds from Sale of Available-for-sale Securities, Equity 7 1 7
Proceeds from Sale and Collection of Mortgage Notes Receivable 640 436 963
Payments to Acquire Available-for-sale Securities (40,662) (12,647) (16,531)
Payments to Acquire Available-for-sale Securities, Equity (6) (5) (15)
Purchases of fixed maturity securities available-for-sale (1,906) (1,280) (1,314)
Withdrawals From Funds Withheld At Interest     (36)
Deposits in (withdrawals from) funds withheld at interest 274 352  
Proceeds from Real Estate and Real Estate Joint Ventures 258 474 710
Payments to Acquire Real Estate and Real Estate Joint Ventures (578) (551) (700)
Proceeds from Sale of Short-Term Investments 772 353 317
Payments to Acquire Short-Term Investments (1,017) (601) (528)
Proceeds from Maturities, Prepayments and Calls of Short-Term Investments 343 187 131
Payments for (Proceeds from) Productive Assets (28) 102 (140)
Proceeds from Divestiture of Businesses, Net of Cash Divested 0 0 7
Change in other invested assets (14) (49) (23)
Net cash used in investing activities (12,545) (4,066) (5,688)
Cash flows from financing activities      
Dividends to stockholders (229) (219) (205)
Repayment of collateral finance and securitization notes 0 0 (181)
Proceeds from long-term debt issuance, net 640 890 690
Principal payments of long-term debt (28) (428) (403)
Purchases of treasury stock (27) (227) (81)
Change in cash collateral for derivative positions and other arrangements 187 603 230
Decrease In Reinsurance Deposits Financing Activities 268 227 (44)
Deposits on investment-type policies and contracts 7,581 2,860 5,705
Withdrawals on investment-type policies and contracts (4,731) (3,628) (1,365)
Proceeds from Noncontrolling Interests 0 0 90
Net cash provided by financing activities 3,661 78 4,436
Effect of exchange rate changes on cash (130) (13) (112)
Change in cash and cash equivalents 356 43 (21)
Cash and cash equivalents, beginning of period 2,970 2,927  
Cash and cash equivalents, end of period 3,326 2,970 2,927
Change in cash and cash equivalents 3,326 2,970 2,927
Supplemental disclosures of cash flow information:      
Interest paid 213 217 163
Income taxes paid, net of refunds 78 298 129
Non-cash investing activities:      
Transfer of invested assets 9,642 2,006 618
Non-cash deposits on reinsurance 637 2,792 0
Assets disposed, net of cash transferred 0 0 (6)
Liabilities disposed $ 0 $ 0 $ 1