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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 $ 1,566 $ 5,576 $ 4,847
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, amortization and other non-cash items 1,086 686 647
Net (gains) losses on investments and derivatives (1,279) (1,356) (1,885)
Pension and other postretirement remeasurement (gains) losses (644) (51) 114
Amortization of deferred gain on reinsurance (4) (4) (6)
Interest credited to contractholder funds 448 638 640
Impairment of purchased intangibles 0 0 106
Loss on disposition of operations, net of tax 4,031 0 0
Changes in:      
Policy benefits and other insurance reserves 1,984 (682) (508)
Unearned premiums 1,618 598 801
Deferred policy acquisition costs (608) (125) (85)
Premium installment receivables, net (498) (3) (299)
Reinsurance recoverables, net (1,565) (11) 320
Income taxes 349 (232) 487
Other operating assets and liabilities (1,368) 457 (50)
Net cash provided by operating activities 5,116 5,491 5,129
Proceeds from sales      
Fixed income securities 31,774 31,950 29,849
Equity securities 4,513 8,405 5,277
Limited partnership interests 886 1,350 756
Mortgage loans 0 230 0
Other investments 1,406 340 303
Investment collections      
Fixed income securities 2,284 2,235 2,570
Mortgage loans 860 626 695
Other investments 550 209 254
Investment purchases      
Fixed income securities (33,857) (38,121) (31,317)
Equity securities (6,409) (4,648) (7,176)
Limited partnership interests (1,766) (1,265) (1,332)
Mortgage loans (221) (203) (844)
Other investments (1,647) (371) (666)
Change in short-term and other investments, net 4,017 (3,871) (725)
Purchases of property and equipment, net (345) (308) (433)
Acquisition of operations, net of cash acquired (3,593) 1 (18)
Proceeds from disposition of operations, net of cash transferred 2,058 0 0
Net cash provided by (used in) investing activities 510 (3,441) (2,807)
Cash flows from financing activities      
Proceeds from issuance of long-term debt 0 1,189 491
Redemption and repayment of long-term debt (436) 0 (317)
Proceeds from issuance of preferred stock 0 0 (1,132)
Redemption of preferred stock (450) (288) 1,414
Contractholder fund deposits 826 991 996
Contractholder fund withdrawals (1,140) (1,494) (1,662)
Dividends paid on common stock (885) (668) (653)
Dividends paid on preferred stock (114) (108) (134)
Treasury stock purchases (3,120) (1,737) (1,735)
Shares reissued under equity incentive plans, net 114 63 120
Other (35) 41 129
Net cash used in financing activities (5,240) (2,011) (2,483)
Net increase (decrease) in cash, including cash classified as assets held for sale 386 39 (161)
Cash from continuing operations at beginning of period 311 273 425
Cash classified as assets held for sale at beginning of period 66 65 74
Less: Cash classified as assets held for sale at end of period 0 66 65
Cash from continuing operations at end of period $ 763 $ 311 $ 273