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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities      
Net (loss) income $ (1,364) $ 1,566 $ 5,576
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation, amortization and other non-cash items 847 1,086 686
Net (gains) losses on investments and derivatives 1,072 (1,279) (1,356)
Pension and other postretirement remeasurement (gains) losses 116 (644) (51)
Amortization of deferred gain on reinsurance 0 (4) (4)
Loss on disposition of operations, net of tax 0 4,031 0
Changes in:      
Accident, health and other policy benefits 4,503 2,432 (44)
Unearned premiums 2,541 1,618 598
Deferred policy acquisition costs (702) (608) (125)
Premium installment receivables, net (1,038) (498) (3)
Reinsurance recoverables, net 408 (1,565) (11)
Income taxes (721) 349 (232)
Other operating assets and liabilities (541) (1,368) 457
Net cash provided by operating activities 5,121 5,116 5,491
Proceeds from sales      
Fixed income securities 31,494 31,774 31,950
Equity securities 10,969 4,513 8,405
Limited partnership interests 970 886 1,350
Mortgage loans 0 0 230
Other investments 1,071 1,406 340
Investment collections      
Fixed income securities 728 2,284 2,235
Mortgage loans 163 860 626
Other investments 167 550 209
Investment purchases      
Fixed income securities (36,920) (33,857) (38,121)
Equity securities (9,294) (6,409) (4,648)
Limited partnership interests (1,258) (1,766) (1,265)
Mortgage loans (104) (221) (203)
Other investments (295) (1,647) (371)
Change in short-term and other investments, net 792 4,017 (3,871)
Purchases of property and equipment, net (420) (345) (308)
Proceeds from sale of property and equipment 209 0 0
Acquisition of operations, net of cash acquired 0 (3,593) 1
Proceeds from disposition of operations, net of cash transferred 0 2,058 0
Net cash (used in) provided by investing activities (1,728) 510 (3,441)
Cash flows from financing activities      
Proceeds from issuance of debt 0 0 1,189
Redemption and repayment of debt 0 (436) 0
Redemption of preferred stock 0 (450) (288)
Contractholder fund deposits 133 826 991
Contractholder fund withdrawals (49) (1,140) (1,494)
Dividends paid on common stock (926) (885) (668)
Dividends paid on preferred stock (105) (114) (108)
Treasury stock purchases (2,520) (3,120) (1,737)
Shares reissued under equity incentive plans, net 82 114 63
Other (35) (35) 41
Net cash used in financing activities (3,420) (5,240) (2,011)
Net (decrease) increase in cash, including cash classified as assets held for sale (27) 386 39
Cash from continuing operations at beginning of period 763 311 273
Cash classified as assets held for sale at beginning of period 0 66 65
Less: Cash classified as assets held for sale at end of period 0 0 66
Cash from continuing operations at end of period $ 736 $ 763 $ 311